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261  Economy / Trading Discussion / Luck is what you need in gambling but you have to get to work with trading on: June 18, 2023, 11:06:34 AM
I have read many discussions about trading and gambling, some people have rather joined the two as gambling. That is not totally true. For traders who agree that trading is same with gambling, they are just lazy to go into work and adopt the ethical way to trade and those are:

1. To cut your losses and increase your profit: You can conveniently do this by using stop loss or take profit adjustment or trailing stop but in gambling, is one straight end once you have gone on the bet, you either loss all you bet or win or you bet for.

2. A trader can adjust his risk appetite by reducing the lots size to suit his account and determine his appropriate leverage but in gambling, a bettor has to go with the odds provided for the gay. He can't reduce or increase it against the fixed odds.

3. Traders use analytical tools to determine what market price will be and wait for appropriate timing but gamblers play by the rules of casino.

Trading is not gambling. You require luck in gambling but you require work in trading.

What is your thought.
262  Other / Beginners & Help / Re: Encouragement and lesson learnt on: June 17, 2023, 02:51:12 PM
It is not an easy journey on the forum. Take the critism and turn them to your strength as a reason that you will get better and that including improving on yourself, learn bitcoin and everything about cryptocurrency so that you can also teach not only on the forum but also people around you. Study wide and put effort more you will see yourself rising fast but don't focus on merit, it will come if you have improved on yourself.
263  Economy / Economics / Re: Retirement Age for Workers - Does this Make Sense? on: June 17, 2023, 12:09:06 PM
It makes sense to raise the retirement age so that people can continue to contribute to the workforce and the economy. Many workers are physically unable to work past a certain age, and that raising the retirement age would unfairly penalize these individuals. There are also economic considerations to make into account. If the retirement age is raised, it could lead to decrease in unemployment rates as older workers remain in the workforce for longer. This could also lead to a decrease in job opportunities for younger workers who may struggle to find employment. Retirement age for workers should be based on efficiency of employees. It is important to balance the needs of older workers with the needs of the economy as a whole in order to ensure a fair and sustainable system for all.

This is a double standard. You are speaking in two voices supporting extension of retirement age and also pointing at unemployment rate for the young people. Of course if old people are retained in work force even when they are not contributing efficiently to the economy, they need to be replaced and this may not be done selectively. The best is to let them go for a replacement with the young people and you may open up space for the old active workforce on a contract or part time bases because of their expertise. I believe countries with long service age are those who lack young workforce for replacing the old. There are more advantage for introducing energetic minds in the workforce and these advantages are what we all know needless to mention.
264  Economy / Trading Discussion / Re: Trailing Stop Sell for Profit Taking on: June 17, 2023, 10:21:06 AM
The percentage depends on the pump and volatility of the coin or speculation of it at the moment because trailing stop can actually get you to stop your trade when you are suppose to maximize your profit. It can stop you half way when you have set the percentage very high, so I could go for 1% or 2% while watching the market and adjusting my stop loss as well.
265  Bitcoin / Bitcoin Discussion / Re: If Bitcoin is legalized, a dream of mine would come true on: June 16, 2023, 02:30:59 PM

But my dreams will remain dreams because Bitcoin will never be legalized by the government in my country.

It is not bad to dream. It is your heart desire to come through maybe you have lots of bitcoin that you want to start trading directly with customers. Nothing is impossible to happen but at the same time you have a tall dream because it is not dependent on you to happen but the people in government except you have friends or family members to influence your dream.

Advise to you is don't stay by the line waiting for bitcoin legalization in your country before you start your business. Start up the business with the use of your local fiat currency and build a network of customers for your self and if your dream finally become real then you already have an edge.


They may have to do similar to what El Salvador is doing to make things better. Your dream is not impossible.

Even if his country get to follow what El Salvador did by legalizing bitcoin, it may not matter anything significant on the short time because whatever accumulation of bitcoin he got from his customers would make meaning to him on the longterm when bitcoin bull arrive. This is also same thing in El Salvador because part of the bitcoin hedge by the government is below cost price likewise businesses accumulating bitcoin. However the profit in bitcoin is during the long term but pizza business requires more like daily activities and turn over except he only want to be dealing with bitcoin transaction and not really on the longterm gains.
266  Economy / Trading Discussion / Re: Manipulation on Peek - What You think ? on: June 16, 2023, 11:47:37 AM
Market will always find a reason to fall for many to discuss it. There have been various biase for the falling reason of which some conclude interest rate to be the cause, some point to the cryptocurrency exchanges like binance and coinbase under the watch of US government. Whatever may be the case, I think it is natural to find a reason to discuss on the fall, it is also the same when price begin to increase and different reasons like Elon musk and other whales going into the market. It is better to understand that the crypto market is about rise and fall, don't depend on the reason to buy or sell because it will not matter but depend on your DCA strategy.
267  Economy / Trading Discussion / Re: Fibonacci Tool and Price Action. on: June 16, 2023, 11:16:36 AM
Hey friends!!

My friend told me that using the Fibonacci tool in conjunction with price action is the most successful trading method. I'm attempting to investigate and learn about it.


This is not true because no indicator or indicators are better than others but it depends on our understanding on them, how fulfill we are from how they make us feel and the profit we make from them as against others. IMO I prefer price action than Fibonacci. Fibonacci is more of a biase indicator that you only draw based on your trading subjectivity and what you feel with the market but most times it doesn't come that way and you need to draw another chasing the price chart.


Can someone suggest a good instructional video or book to help me learn both? 

Thank you!!   

No matter the spectacular kind of video you watch, you need your own training by yourself to help you better understand what you are trading. You don't need to ask for such video because no one is better than others, you can only use them for learning process or learning sake. Therefore, you can search on Google.
268  Other / Beginners & Help / Re: Beware of Pig Butchering Scam! on: June 15, 2023, 04:56:52 PM
<snip>
<snip>
It is specified in the article that the scammer works by trying to establish an emotional connection with the victim, posing as a 'lover' or 'friend.' Over time, the scammer will attempt to convince the victim to invest in a platform they control (although this may vary), promising returns to strengthen trust and potentially encouraging the victim to invest more. Eventually, the scammer will steal the funds and provide multiple excuses.

That't the first thing I've thought when I read the article. It seems that some kind of LOVE is involved in this kind of schemes, which could be fraternal love when the scammer gains your trust so that you believe he is your friend, or even Tinder for a love in a more traditional sense of the word.

These types of scams were already becoming common, with the novelty that now they take advantage of cryptos for better results.

I think whatever the name the scammers try to change it to, we know it to be a common Ponzi scheme strategy where the downliners lose all they have invested. Most times the first participants get some thing which will make them put more investment together with new comers who become downliner. The caution not to fall is always to believe that you are alone on the internet and the rest people are people you have not met and so you don't have to trust who you have not met. Treat yourself with a level of isolation and research before taking any risk.
269  Economy / Speculation / Re: The low support level may still be tested during 2023. on: June 15, 2023, 03:28:57 PM
Panic is the reason that the price of bitcoin drop and now that the price has been dropping gradually, I won't be surprised if we test $20,000 or even lower before the year ends. Bitcoin has the history of dropping ridiculously before halving so it is yet another time to watch out for windows of DCA because after this dropping experienced, the chances to get in afterwards for a lower low may be limited. Halving is surely a hope for another bull profit.
270  Economy / Trading Discussion / Re: WARNING SIGN on: June 15, 2023, 01:57:18 PM


Does it mean we cant go back in time to comment on any topic, just need few explanation
You can reply in old topics if your post brings some good insights or informative discussions.

The warning is because too old topics, inactive topics likely are no longer good for discussions but it is not same for all cases. The message is clear, you have to decide that what you want to write is really needed for an inactive topic. If you see it is good, you can write and post it, nothing against you.

I would advise you to lock this thread. You have had enough explanation to what you asked. It is just a notice to you incase you may want to reopen a fresh thread. Posting on old and inactive thread means you want to reawaken the thread, it will be appreciated if your post will be instructive to the thread otherwise you can create a new thread.

Note: Your question have been answered. Please you may decide to lock the thread.
271  Economy / Trading Discussion / Re: All RSI indicator OverSold and Overbought of all USDT and BTC pairs in 2 tables on: June 15, 2023, 09:21:57 AM
gonna add more indicators but still in dev ,will take some time
what indicators you like to add to bring from all pairs and compare ?

I have some questions for you that will direct other users visiting this thread

1. What is the reason for this work you are doing?

2. When you say it will cost 50k , are you expecting to get the money from users?

3. Is the subscription free or how do you plan the subscription?

272  Economy / Economics / Re: App to monitor financial world events - what are you using ? on: June 14, 2023, 05:03:20 PM

 I'm just wondering if there is one stop shop for that type of info vs. collecting all the knowledge from news, tweets, socials ...

Thanks
M

I don't think something like that would exist. You will have one bite from this or that news forum but to have all in all like you ask will be difficult if not impossible. You have to search online depending on the news item you are seeking for. I majorly rely on forexfactory com for a robust financial happenings in the world as it affects currencies and economics of the world. https://www.forexfactory.com/
273  Economy / Speculation / Re: How high will Bitcoin rise, or fall, in 2023? on: June 14, 2023, 03:13:46 PM
A recession is coming

Bitcoin is supposed to be deflationary, but it hasn’t acted like a deflationary asset. As interest rates rise, almost all assets of value fall.


I don't think so . Interest rate doesn't affect bitcoin because bitcoin is not fiat.


If a recession is coming, and it appears it is on the horizon, Bitcoin’s price could fall because investors will turn BTC into cash to pay debt.


I don't think so because during COVID-19, there was no money in circulation but bitcoin price increased during that time unexpectedly.

2. The Biden Administration isn’t a fan

President Biden and Treasury Secretary Yellen are exploring the idea of a digital currency that the U.S. Government controls.


That will not be strange, control of CBDC is usually by the government.

A U.S. digital currency would hinder Bitcoin’s price because the government could decide to temper enthusiasm regarding the world’s first cryptocurrency.


The US government has no direct influence to stop bitcoin but can only regulate exchanges in the country like they are going with binance.

3. Bitcoin utilization hasn’t increased as much as many expected


You can't compare what it was 12 years ago to the utility now. Almost all casinos are using bitcoin for deposit and payment. Some trading platforms are also using it and so for other financial institutions and transactional platforms.
274  Economy / Economics / Re: Is poverty a lack of money? on: June 14, 2023, 02:42:13 PM
Poverty refers to lack of money that's how everybody sees it, ...... 


I guess being poor in the city is much harder than being poor in the rural areas where you can plant crops and vegetables and raise livestocks as well.  

These days being able to take your children or kids to school or not being able to do that has also being classified as characteristics to identify poverty or not. Things like the basic of elementary formal education I think so , and that is why I agree with your very first sentence of lack of money to be what people identify as poverty. People in rural area that are agrarian are also not able to take care of all their financial needs which is why there was trade by barter then. Again, in the midst of those agrarian, there were some families that could be identified as royals and lords because they are rich in animals, farm products, human capacity including slaves. These families had money that they lend to other families in return for interest and other material benefits. Money is important to identify poverty because  it is used to acquire basic needs of life. Back then in the agrarian society, some families didn't have bicycle while some had, some didn't have wheelbarrow but dependent on those who had when they want to go to the farm.
275  Alternate cryptocurrencies / Altcoin Discussion / Re: Passive income (through reflections) @TrumpCoinDTC on: June 14, 2023, 11:26:45 AM
Still very early with @TrumpCoinDTC.  Huge passive income potential if you get in early.  Trading volume is picking up and the reflections will be rolling in...

#TrumpCoin  #TrumpCoinDTC  $dtc


The trumpCoin what does it meant to achieve? or it just named because trump is a controversial former us president? is that is the basis for the coin, then i don't think that makes really sense, coins should be developed to make impact and bring adoption to the ecosystem.

Quote
Datacoin (DTC) describes itself as a trustworthy, censorship-resistant cryptocurrency that can be used for transactions and data storage on its advanced blockchain. Data coin claims to be also used as a payment method in cyberspace.
https://www.google.com/search?q=trumpcoin

I have also been curious to know what purpose is the coin like you asked but I went further to research about it and above was the search.

Well though majority of the crypto family may consider it as shitcoins and pump/dump coins but in my view if it is used as one of the payment methods in cyberspace, it may still be relevant for sometime if not abandoned. It is selling in PancakeSwap, BitMart
276  Other / Beginners & Help / Re: My first post on: June 13, 2023, 02:12:34 PM
You have had many suggestions aready, I like to congratulate you for signing up here. I'm sure you must have solved the captcha challenge you complained because I believe it is a network glitch and nothing more, what you need to do is simply refresh though sometimes it may take time to solve as it keeps changing to new symbol but continue on it until it is solved.
277  Economy / Trading Discussion / Re: Risk management on: June 13, 2023, 12:02:20 PM

I was thinking about this saying "Huge risk = huge rewards" but it was too opposite from what we want instead, we are looking for Less Risk but huge rewards. That is why only a few people succeed in trading as they can't accept the challenge and manage to handle stress. As we can see, many traders quit and become holders, but that was a good escape rather than leaving crypto forever.

Risk is not eliminated in trading but it is reduced when we use proper risk management. Agreed that some people have left trading to hodling and that is basically because of the trading mentality of profiting 100% without thinking of losing so they losing but having in mind that it is less risk and huge profit. Market trading can not be without risk and losses and it is better setting your loss limit.  One important factor of stop loss is it stops you from losing all your capital.
278  Economy / Services / Re: [CFNP] Roobet.com Signature Campaign | Dr. Bombay Metaverse | Full Members+ on: June 12, 2023, 04:02:00 AM
Have sent those mate that has not changed their Signature a PM , hope they will comply sooner .


payments received , Thanks Hhampuz and Roobet team

Updated. Thank you
279  Alternate cryptocurrencies / Altcoin Discussion / Re: Bounty hunter is considered as investors with a big patience. on: June 11, 2023, 06:06:50 PM

then another thing to watch out for is when the project goes down some bounty hunters and investors might panic and sell their tokens.

My experience tells me that sometimes to sell bounty rewards as soon as it hit the exchange may be a good decision. I have noticed some bounty posters who have complained of not making profit from the rewards after they left it believing it will increase and some reduce to nothing after a while. For me I decide not to regret when I take decision to sell.
280  Economy / Trading Discussion / Re: Gambling is different from trading on: June 11, 2023, 03:25:10 PM

While gambling, most gamblings are pure luck.


Gambling is purely luck game. I remember yesterday's champion's league final between Manchester city and Intermilan, most bettors where all out for Manchester city to win and undermining Intermilan team but the game wasn't that easy for man city to carry the game and it took alot of effort from them to get a decisive goal around 68 minutes. My point is inter had some bettors that still believed that by any other means some upset can happen and that is the luck in gambling. As they say in football, anything can happen but in trading most times you can trade using the charts, indicators and you can reduce your losses by using good money management and stop loss.
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