That is the part that gets a lot of people – greed. Once investors are promised a great ROI, they don't want to cross-check how feasible that can be. For me, I get skeptical of any investment that promises more than 2% as ROI. Investments aren't that easy to pluck off money that quickly from them.

I think it goes both ways depending on the modus operandi of the operator(s). Some platforms would want to make the unsuspecting public believe they're genuine by removing every encumbrances but also set up another angle from which they can scam them. While some would set certain sign-up fees to legitimise their operations, so to say. When Binance opened shops in 2017, it allowed for no-commission trading which was almost alien to traders then given that exchanges that were operational at that time took commissions from traders. Like you said that it took you less than a minute to discover that the platform was a sham and that could either be as a result of instinct or because you researched it. Sadly enough, most people don't like researching a site before throwing their money into it. They rather hastily invest first before making any research in a manner that typifies putting the cart before the horse.

How many of us sabi Billionaire Prince White. See how d dude take bring Bitcoin into him yarns. Make una watch here https://youtu.be/QvUV83dfiNM

You just committed a blunder by neglecting the unwritten rule that governs "trust" with this post. People don't usually trust an account making its first post and promoting a business that has to do with people risking their hard earned cash just to see if it works. I doubt anyone above a "Full Member" rank here will give you audience. We've seen this type of scenario come and go. Lessons have been learnt from sorrowful experiences, most times. And they're others who learnt from the mistakes of others too. OP, don't get me wrong I ain't saying you're a scam or not, it's just that the community needs to be very precautions dealing with such a noob account.

The annoying thing about RSI is that it's a lagging indicator. The candles complete their actions before RSI picks it up. I think it's not wise for traders to solely make trade calls based on signals from the RSI alone. Again, there isn't always accurate picks to show that a trade has supposedly been overbought or oversold as traders say. I have watched a few times when price touched the top level of 70 and still continued whereas it's supposed to revert at that level. It's the same thing when it occasionally touches the bottom at level 30 too.

I once had an app that drew support and resistance lines from the Fibs but it was always repainting (that's rewriting the lines). I don't like lines moving once price moves or breaks them. So, I quickly uninstalled it. I like my lines stable and fixed.

Trust me, you won't like the end result of not using Stop Loss (SL). You may have a few wins but a single loss can wipe off all your winnings. SL is very important in trading. I hope you don't learn the hard way.

😆😆😆 This is so off the hook! Laugh wan wound me here oh. Una see why Google translator shouldn't be used at all? Well, make I keep the translation for pocket. But wetin make me put dat thing out na wetin you talk about all native Naija languages be allowed. Na Igbo be dat but your translation dey completely different from the meaning.

I dey hate dat level of generalisation too myself. For Philosophy dem dey call am Fallacy of Hasty Generalisation. We nor go take sey because some people dey bad come sey all man dey bad. Dat nor good at all. I dey tell people around me wey dey always call any young guy wey dress and smell well Yahoo boy sey dem dey wrong. Until you sabi wetin persin dey work, nor call am criminal.

I try to make my trading plan as simple as I can get. There's no need complicating charts so as to make the platform beautiful and unnecessarily clogged up with colour indicators. Simplicity wins it for me any day, any time. Thus, I use leading indicators of line – trendlines, Support & Resistance, Pivot Points by payt attention to Price Action. I could watch RSI too (and that's the farer I can go, nothing more because it's a lagging indicator), occasionally I allow MAs too.

Besides all that, always remember to place your stops because trading is a highly speculative business and no one can be too certain it can't go wrong. You can't be too sure that it will work out perfectly well as planned. Protect your losses by using Stop Loss.

Enyia! I chere si Ihe nile i nekwu baaga na isi ndi na achikota nga-anyi nu? 🤷

Davidvictorson, I welcome you with two hands as you enta dis corner. Na correct thing wey you do as we go dey rub minds dey go. Your proverb make sense but e don already tanda here before 👇


@XCANA, I salute you too bro. Una welcome. I suppose give una colele wata drink but e neva dey my fridge now.

I like your forthrightness in publicly accepting that you came in here to gain financial reward besides the crypto knowledge. A lot of users deny that as if anyone gets tagged for saying their motivations. I like reading stories of how people overcame their struggles. It's kind of testimonial. I encourage you to soar higher than you already are doing. See your new rank as a promotion by the community and know that promotion comes with a higher expectation.

Edited:
You deserve merit from me on this but sadly I have none ATM. I shall revisit this to merit it. Enjoy.

The availability of Bitcoin ATMs are real glad tidings for the people of El Salvador as the whole Bitcoin news is bringing the entire country exposure and to the limelight. It's more of a win all the way to El Salvadorians than it's for Bitcoin per se. That isn't to say that the Bitcoin community doesnt love what's happening, nonetheless.

This shouldn't be an issue as we always see in every paradigm shift. I expect more merchants to switch businesses to accommodate the use of Bitcoin. I saw this happen in Nigeria immediately GSM was introduced in the country and SIM cards and mobile phones became a new line of business. A lot of laptop and desktop merchants had to quickly switch gear to mobile phone business, and those who did go in early made a kill of it.

I nor know whether you don see dis thread wey dem post about you for plagiarism here https://bitcointalk.org/index.php?topic=1926895.msg57886867#msg57886867

Smartvirus and Rruchi my brodas, nor be small thing oh. But we thank Baba God sey everi everi don calm down now.

Shey be dem dey talk sey BBN na ashawo programme a lot of people dey shout sey na lie. Na programme where grown men and women dey stay awake to watch people wey dey sleep to see if dem go do any stupid thing. I nor kuku dey watch d thing for like 5 years now sef. The little one wey I watch I nor gain anything wey dey meaningful to help my life. If to sey na wen Gulder Ultimate Search, Startrek, dat show wey Bank PHB dey sponsor dat time (shey na Intel dem call am or wat) and dat debate with GTB sponsorship, ehen persin go know wetin im dey watch. BBN na thrash, simple and short!

Igehhh, God bless you for that question – "what was a married woman doing in the house in the first place?"

This is the only one I take to have caused Bitcoin to plummet. I mean, how do you give so much freebies to people and don't expect most of them to dump it. Remember that whatsoever that isn't earned through hard work is easily lost, and that's the same thing that happened with the El Salvadorians. In school I was taught a basic law of demand and supply in relation to price setting. There were surplus sell orders and a few buy orders and that caused most buyers to reduce their ask prices, causing sellers to adjust sell orders to the downside.

On the flip side, I see the dump as part of the long awaited price correction of Bitcoin. Nothing to be worried about. It's normal and now we expect another push to bring us a new ATH.

Please, get the point CryptopreneurBrainboss tried to elucidate there so you don't take his comment out of content. Yes, you may suspect that such tailing and watch by the Nigeria government are happening but do you have facts to back that claim up? You know, the only thing that's admitted in a court of law is "Fact" because fact is sacrosanct. Any other thing outside fact is emotion, even if it's the truth. If you have such fact of what you're saying you can furnish us with it and we shall be glad to peruse it.

Those ones aren't even beginners specifics to tell you the truth. Veteran traders who are greedy and have that mindset of, "I can't lose trades" also have that mindset. A lot of traders believe that since the market is an UP and DOWN movement type of thing, whenever it goes against them that it would revert. By doing so they tend to incur more losses. Stop Loss (SL) is the best technique to guard against irreparable loss and save one the headache of constantly checking and rechecking charts.

Talking about keeping trading diaries, I don't like doing it. It's cumbersome and a waste time for me. I can note tokens to buy but once I'm done buying I don't take record of what price I bought or sold. But that isn't to say I don't make a mental note of what level I bought. In all this, I make sure not to sell below cost price even without keeping any diary on my trades.

Quite alright, the El Salvadorian approach to embrace Bitcoin is a welcome development but the mandatory angle to it is what doesn't go down well with me. I have read a few others here condemn that too. I will continue to maintain that Bitcoin can't completely exist or achieve mass adoption without the existence of fiat. The reason being that (1) – Bitcoin isn't something that is easily understood and as a result it's going to be a whole lot of problems for the illiterate and old folks. (2) Another factor is the Internet which Bitcoin requires to stay afloat. A lot of old forks don't understand the internet. So, are we going to cut the old folks out of the economic development? Certainly not. A best bet would be for the El Salvadorian government to compromise a little on its mandatory status and allow businesses to run on both Bitcoin and fiat simultaneously. Gradually, the citizens will be more enlightened and then effortlessly make the switch by themselves. To be honest with you, making Bitcoin a legal tender in El Salvador is more of a win for that country than it's for Bitcoin. Before now, I can bet that half of those who know about El Salvador now didn't even know a country like that existed.

The Nigeria government is simply chasing shadows on this one. Sometimes I wonder what the  Special Advicers to government on this and that do with their portfolio on advising the government aright. Obviously, it's clear that they're merely there in that position for their bellies without understanding the term of reference of their jobs. A tangible advice to government at this time would've been to make the country conducive for investment and people will come in chasing the Naira. As it's now, almost every one sees the Naira as worthless. We all know that it's demand that gives a commodity/service its value.

It's obvious this has failed, expectedly and quite understandably too.

The content of your post is one that seeks to educate rather than seek to be taught. It's declarative. It shows you already know the path you're toeing. You've to change the interrogation in the title then. Having said that, I like the part where you mention a basic fact as quoted here, "The first thing you need to know is that losses are a part of the experience." This is a vital part in trading but sadly a lot of traders just wish it away and think trading should be all rosy every time. There are gains to be made in business, trading inclusive, just as the losses are there too to bring traders back to reality. One major step to being profitable in trading is acquiring the set skills for it. Without which, it will often result to inconsistencies and one won't be able to survive on it. To those who are inconsistent, they believe no one can day trade and make a living out of it. But that isn't true. There are professional day traders who don't do anything else to make money but trading.

The 1hr and 4hr TFs already are showing signs of reversal as we can see from the charts below. Even though I don't want to say it reached the oversold area, I want to believe it's a healthy place for any trader to want to long it. It's a risk worth taking at the moment.





This third chart shows when traders/investors should begin to get worried if price breaks the white horizontal line; that's at $40,921. That line was once a strong Resistance but later turned Support. I doubt Bitcoin will dip below it.



Note: I don't rely on RSI alone to take a shot because it's a lagging indicator. Check Price Action and you will see that price is already shooting up from the formation of the candlesticks in charts 1 and 2.

I'm not sure how those who made such profit could've allowed it still go red in loss. It's a simple thing to do if one can't exchange crypto for fiat and withdraw as cash once profit is made because of certain legal constraint. All one has to do is to tether the crypto and then wait for the whole drama to fizzle out. Once the storm calms down, one can safely sell and then withdraw in cash. Alternatively, tether the crypto and then sell it at a reputable P2P which may not even be on the exchange one has an account with for fear of legal restriction. One can do a P2P on WhatsApp or telegram groups one knows has credibility.