Trading is not a course to be honest. Yes you can learn the basics of trading or how to read the market etc. But if you ask how to trade? Then it can be learnt by experience only. I will suggest you a basic roadmap. Learn the initial pre requisite for trading. Learn about analysing charts and patterns of coins. When you are done with this, then go for demo trading with dummy money. Once you are confident with this, then switch for real money and trade with minimising the risk.
Certainly, trading is not an education. Training alone is insufficient to be able to trade and one must always improve himself/herself with experience. Learning how to trade and then improving oneself by gaining experience is the most basic step in becoming a successful trader. It is especially important for people who are new to trading to complete their training on trading in general and learn to trade with a demo balance or a very low amount of real money. In this way, after the knowledge gained through education is gained through experience the person will reach the potential to trade successfully. It will become clear during this trial period whether the person can determine that he/she has started trading with his entire balance or high amount of real money. just like if we use the same trading system and technique, but the results will not be the same, this is a different human psychological factor, what is clear is that each person has their own goals and can carry out their targets according to the portfolio that has been planned, so in the end there will be achieve the same goal. Therefore, real training by doing real trading is highly recommended before we start trading for a living |
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From the good explanation explained above, we will have trading experience by sharing the problem situations we face, that way we will be able to control our emotions and stick to the framework outlined at the beginning. It's not easy to master it right away, it requires gradual and repeated learning, until finally we have an intuition about candle movements, Of course it's not easy as long as we don't give up of course there will be progress
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I have heard this argument before from people that have no knowledge at all about the economy, they argue that if the government gave one million dollars to everyone then everyone will be a millionaire and live with opulence, they do not understand that currencies themselves do not generate value, they are just a representation of value, what matters are the goods that are produced and at what cost, and if everyone received a million dollars, that million dollars could probably not buy you a six pack of beer.
thats true make everyone a millionaire then that million would have no value, its silly but many actually believe such thing could bring wealth towards them which isn't true at all. giving out money never a solution, instead its a way of destroying your own economy if the money given was too much. nobody would trust money that gets printed out of nowhere, because after all if the government keeps printing, why even bother owning the money, there's too much supply meaning that money have no value at all better keeping commodity since its truly what these money represented to be but if money keeps getting printed, it means it fails as a money that keep its value. if money has no value it is the same as having no money. the most important thing is to have money and have its value, that way you can live a prosperous life. the most difficult thing is maintaining the value of money where many factors influence it, not just printing more money, that is not a good solution for creating prosperity, even if you have a lot of money if it is not valuable, it will be the same |
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The situation in the country is now very bad, the price of every thing is increasing at double rate.
It is not just bad but getting worse everyday, people are really struggling to survive. The least thing one can buy right now is even more than a dollar, I mean the the least thing you can think about talk much about basic things like food and other things. This is critical period that one needs to take note on how they spend money, it will be very shocking that money is being spend unnecessary their won't be any money left at hand . This period their is no need to crave for designers wears , hangouts that requires much money. Every life style needs to be cut short to meet up the hard economy . too bad the luxury goods are still selling like a hot cakes. the money aren't circulating to the middle class and lower, its circulating among the riches, but thats on its own is fine as long as they pay taxes. the thing is that, the price of the goods and its increase just doesn't really get followed up by the people salaries, its hardly rising while sometime the inflation itself increase more than the salary. basically decreasing the purchasing power over the year. thats just how it is with current economy, one needs to have 2 jobs to survive. We really have to have other income to be able to survive in an era like today, and this not only changes economic conditions, but what I feel also changes the civilization that occurs around my environment, because I live in a rural area. where it seems that everyone is starting to be individualistic because they are busy making money, where it is very rare to see neighbors chatting casually with each other, as if 24 hours in a day feels like there is not enough time to carry out activities to make money to fulfill their lives, it will be more difficult for those who have a high lifestyle but it doesn't match their income |
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Oil has indeed become closely ingrained in our lives. So it is very difficult for us to get rid of dependence on oil. So it is not surprising that oil also plays an important role in our economic order, where its impact is currently the most influential. Rising oil prices can even cause inflation to occur quickly because almost all sectors currently use energy from processing petroleum or fossil fuels. But comparing Agriculture and Oil I think these two things have the same strength. For example, if wheat farmers suddenly stop selling their agricultural products. then we will see a quite big shock in the economy. Because of the remaining wheat on the market, the price will really increase like crazy. And all foods and products that contain the staple ingredient wheat will also experience the same high increase. So that oil and agriculture are both equally important forces. And I personally consider agriculture more important in our lives.
We’ve been for too long relying on oil as the main source for energy and cause of our over reliance, a decrease in supply would always have dire implications for a lot of countries, some more than most. I think oil is always in demand by every nation to satisfy the energy demands of the people and could provide a lot more revenue for a country and further strengthen its economic growth. Not trying to downplay the importance of agriculture as it’s equally important. Keeping in mind how energy is needed by everyone everywhere, oil deposits are not found everywhere hence the high worth and value. Most countries could plan to commercially grow agricultural produce but not every country has large oil deposits that could be enough for personal consumption and to sell and make profits. Oil is a vital means for the movement of a country's economy, we know how rich oil producing countries are, it is even its main commodity, such as Middle Eastern countries, especially now that everything is related to machines that require oil as a driving force. However, on the one hand, agriculture is also the main commodity that must be met, because everyone needs food, in an era like today, both are very much needed by humans, however, not many young people are interested in the agricultural sector, even though it is a commodity that is definitely needed. |
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Bitcoin is one asset that can be easy to invest for everyone. this is different from gold where we must go to offline stores to buy it and quite complicated if gold have to buy is still indent and waiting for supplies from the supplier. before knowing bitcoin, I used gold as my investment, I set aside my salary to buy 1 gram of gold every month at past. But, because the profit is not much when I compare it with bitcoin, then I stopped it and moved to bitcoin. in fact, apart from being easy to buy and sell, bitcoin also easy to carry to every where when we move to another place, it's different when we have gold, it would be troublesome if you had 1 kilo gold and have move it to another place.
You are right, if you want to buy gold, you have to go to the market and buy it from the store, and you have to face various problems. But you don't need to go to any market to buy Bitcoin, you can buy it from home. Storing gold can be a hassle, but bitcoins are easy to store in a good wallet. People who are aware of Bitcoin in present time will definitely prefer Bitcoin over gold. Besides, if you invest in gold, you cannot expect much profit. Investing in gold is good, but not good for people investing with small capital. Those with little capital find it best to invest in their Bitcoins. Investing in Bitcoin is risky but can expect high profits. but what needs to be remembered is that we must have knowledge before investing in bitcoin considering that it will be more risky, on the other hand, in my opinion, gold is only a value hedge, where even though it has increased, it does not produce profits like bitcoin, it only follows the inflation that occurs, it will But this will be better than holding cash, where the value will decrease as inflation increases. therefore I prefer bitcoin to invest |
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I have decided to continue my involvement with investment in Bitcoin. My conviction in the importance and positive tendencies of bitcoin cannot be complete if I continue to just discuss and learn about its existence. I believe that a practical approach to learning is the best approach, hence my decision to invest in bitcoin with the little funds I have at the moment. I also believe that little drops of water makes the mighty ocean and I'll continue my investments when funds present itself. I wish to take my journey to another level of involvement, hence my decision. I hope and know that in the nearest future, I will be proud of the decision I am taking now. I intend Hodling my coins for a long time to avoid a repeat of my former tragedy.
I take your statement that a little drop of water can make a mighty ocean as a real fact. If I interpret it in a meaningful way, it implies that while a person's first invest in bitcoin with little he has, it may seem little, but if they continue to invest gradually with the same pattern, it will end up being far bigger than they could have ever imagined. Some investors fail to realize that it's not ideal to invest the entire amount in bitcoin at once. You start investing with a small amount of money that you can afford to lose, and as time passes, you steadily increase your investment until you have accumulated a large sum of bitcoin for yourself. It would indeed be ideal if we invested the majority of our capital in Bitcoin and invested in several potential altcoins, so that besides our capital being safe, we will get more profits, indeed we have to take bigger risks, but we also have to be able to work on it so that it remains safe. safe, considering that investing in cryptocurrency has high risks, but also has higher returns, so knowledge is the main capital before investing |
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Currently I am focusing more on holding than trading, although I am also not abandoning trading activities for my future. I think holding is easier than trading where the risk will be greater. what we need to know is that trading is not a quick way to make money, if we make the mistake of not having the knowledge and experience, what will happen is that our capital could run out, Therefore, slowly learn trading until you can master the science of trading
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[...] my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things.
In your country, is it common for someone who is already working to continue having all their living expenses covered by their parents? Considering that $100 in monthly expenditures can be quite challenging. Or perhaps, is this merely a representation with the intention of highlighting it as a percentage of income? In large European and American countries, the minimum monthly wage might be around $1500. If we follow the allocation you've suggested as a percentage, then setting aside $250 for Bitcoin would be feasible, I hope. This way, you could eventually accumulate the leftover portion of your monthly living costs to invest in BTC by the end of the month. Commence the Dollar-Cost Averaging (DCA) strategy and do not lose sight of your financial goals. Every action should have a clear objective to prevent becoming too caught up in the volatile price swings of Bitcoin. Are you from developed countries? Because if you come from a developing country, an average income of 300 USD is common. It may sound unbelievable but that is the basic salary you will receive when working 8 hours/day and most people will find a part-time job to increase their income. You can spend 100-150 USD per month if you live alone and know how to save for the future. $50 per month in bitcoin isn't bad for OP's income, what matters is how long he can keep it up. Because if he has a girlfriend or is married, with that level of income, his plan will be difficult to continue. in developing countries, income of that size is normal, and I think that monthly expenses of only $100, it is possible for him to still be single, with the goal of setting aside money for investment, this has become an extraordinary thought for young people, because in developing countries there are many among those who follow a hedonistic lifestyle to emphasize their status so that even a house will be difficult to find |
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Having in-depth TA knowledge would allow people to have some sort of return that would make sense, it should be important to be a lot more careful about what they do, and that could be important to what you do. Doesn't mean that it will guarantee an income that should make you return as much as possible.
This means that you are going to have a tool that would allow you to get a greater return when you possibly could, and should be something that could return with a profit if you are careful about it, but that doesn't mean that you are going to end up with a result that should be simple, it is going to be something that will take a while. So always end up with a return that would make it smart to enjoy, and not a lot of people will be using them so you will have an edge over those people.
I read a very interesting idea about technical analysis, how it was created in order to control the masses on their expectations. This may be partly true, but it cannot apply to all assets, since there are so many of them that it would be very difficult to implement. In any case, if a figure is formed on the chart, it can attract a large number of traders and in the end this will lead to a certain result, and how correct this decision will be will depend on our ability to understand TA. Sometimes you need to be able to have your own point of view so as not to blindly follow the majority. Price movements make us analyze, so that we can read something that will happen from the price movements that are formed. Even though it's just a prediction and of course it can be wrong or right, we need anticipatory steps. Therefore, technical analysis is needed to get around this. Technical analysis can also be done by placing available indicators, and of course we must be able to master the use of these indicators, to be successful. |
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Most people talk with their sweet words, even though inside it seems like there is something hidden behind being a trader. Therefore, we should not be immediately tempted to make easy money from trading. so the first thing that needs to be considered is knowledge and after that we can seek experience from real trading, and after that I am sure we will get improvements in trading, so don't rush, or we will fall into gambling.
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In all matters of life, trading can change our attitude in facing real life problems. Of course, in responding to a problem, we must also have an analysis of the impacts that will occur if we take a step. Therefore, in determining our steps, we will take the smallest risk of course, or dare to speculate to get a bigger goal, and we ourselves have to decide, especially since we already have the calculations, so we already have good anticipation.
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I don't see it like that, and have never been tempted to invest with full capital, but it is true that I also do it with a small amount of capital to invest in meme coins, because for me the most important thing is the security of our capital first, after that we are looking for a good profit. according to logic. often the multiples on meme coins don't make sense, they go up to thousands of percent, but in an instant they can drop drastically, that's something we have to really pay attention to
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trading is not to seek success in an instant, it is not only hard work that is needed in it, but smart work and emotional strength that must be strong, therefore the need for experience which cannot be done in an instant, but there are many events that are the same as that, namely a story of disappointment in the world of trading, and it is a valuable lesson for the future so that we can correct the mistakes we have made
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thats greed when people want to flip their money into million of dollars they don't have the logic to think whether they truly gonna make it instead of losing their money correct! There is not an issue if anyone aim/dream to earn huge money but the process of investing memecoins they choice, is wrong path to archive their goal. It is wrong to jump on memecoin investment when almost all memecoin turn into dust with short time. Hype is temporary but scam is kind of mandatory thing for memecoins and investor loss money most of the time cause a memecoin never get successful. Some may available in crypto industry but those are rare example. meme coin is not a place to fully invest, I think we only rely on luck in investing, therefore it is very necessary to be careful, don't just look at the increase many times over and we are tempted, after a high increase of course there is a worrying story afterwards. Therefore, self-control to think healthily is very necessary, namely by paying attention to good money management |
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you can always find new meme coin listing in coinmarketcap but the problem is, would you really willing to bet with ridiculously small odds on these new meme coins?
there are thousands of coins released every month regarding these meme coin, only very few of them actually could increase in value, even then its not increase thats significant, coin like pepe and shiba are even rare.
they only happens once a year I guess a meme coin that could gain that massive increase and its very hard to predict which coin actually gonna be increasing, after all these meme coins are all generic you will never know which one gonna have the pump by random whales.
It is indeed difficult to find a meme coin that will experience a pump, the biggest part is luck, where we will be in tune with the whales who will soar it. From this there will usually be a lot of news about releasing meme coins for sale, although this is not yet a guarantee, at least big news can influence other speculators to buy it. as is the case until now of course only a few meme coins are trending, and we can follow the flow. Managing finances is very important to anticipate if things don't go according to plan |
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I'm expecting the same thing in the next halving. I've saw this kind of pattern 2x already and it might be the same thing that will happen next year when halving happened. It would take months before we can see a massive rise on bitcoin price. Spot bitcoin ETF is one of the factors that I am thinking that could possibly contribute to a massive bitcoin price pump in short, the bull market for cryptocurrency. This is the current time that is I think the best time to buy bitcoin since we are on sideways for a long time now. Volatility is there but the peak volatility is I think will happen during the bull and bear market.
I would say that it is going to definitely be a good increase but we just need something else to hold it until that point. We are doing fine at the moment, we are nearing that 30k line and dropping then doing that again and again, and as long as we can do this until 2024 that's going to be fine. I get that not many people enjoy that, but as long as we can do it on time it will be fine. Doesn't matter if we dislike seeing it not moving at this moment, that's of course understandable to want to see it go up now, but as long as it goes up next year, that should be fine. And it is not like we are going to see double the next day after halving, I agree that we are going to be waiting for it to go up a bit more. A price increase is something that many people hope for, in fact no one knows when it will happen, pseudo-increases also often occur and after that the price falls again, becoming a fake signal. The thing that is certain now is to patiently wait for the real bullishness to occur and at that time we will have enough investment to be harvested and make us rich people, with financial freedom as we hope. |
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TP (take profit) and SL (stop loss) are very important and useful tools for trading. Even if the stop loss is triggered, but the price continues to decrease and we could continue to make money, then this is still correct, because order in trading leads to good results, even if we get less in a local transaction. Everyone should have a strategy to follow.
Personal strategies must continue to be honed to get results that match what we want. It is indeed full of struggle to get good results and find the type of strategy that suits us personally. along the way, of course we go through trial and error stages until finally we have intuition about market movements and seem to have a feeling where the market will go |
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Indicators are very helpful. Maybe you just didn't hit the right strategy while following those.
Your strategy will depend on those indicators. You don't just want to predict without a basis right?
How long have you trading? If you are just having a bad day, try tou bounce back the other day.
Indeed, indicators can help our trading, but we must be able to know the strengths and weaknesses of an indicator, so that we can use it well. I prefer to use EMA which seems to be commonly used and of course can flow according to the current trend. However, we do have to be disciplined, sometimes the EMA breaks out and we have to be disciplined to dare to cut losses, this is an example of what should be done in recognizing the characteristics of the indicator |
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I think if an annual return of 20% on the main account is already a good thing, especially if you use large capital, of course a good return, besides that of course the level of risk taken is small, and worth maintaining, besides that we can carry out strategies different, but with different accounts with different rewards and risks, and we can do research so we can conclude a strategy that suits our trading pattern
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