- Trade with Cautiousness and avoid those coins where the community is based on Telegram or discord
Unfortunately I think all other points you listed would have happened already. Except for review on them (that is if they still exist after scamming investors). Usually when scammers get on their prey, they disappear from the scene. That is what I have noticed and that is why it is better to trade with caution. Apart from bitcoin or Ethereum , be careful with any other cryptocurrency and invest as you can bear. Back in 2017 to this time, it has been happening, becareful. |
|
|
|
If you have satisfactory returns then you should cash out but if you are becoming too greedy then many examples are there where it was termed as bad trade.So always trade with different strategies and market judgement and taking firm decisions will help you keeping your greed aside.
Although satisfactory return is relative and that makes it difficult for some people to cash out on time and that makes them emotional not to jump out when they are suppose to. I believe having different strategies is likely to confuse a trader in the decision that will help them cash out on time before they regret. To stick to a particular strategy that is working is convincing to me on being discerning and decisive. Most times confusion cause lack of proper decision taking. |
|
|
|
In simpliest form: the support zone is basically where the buyer resides and it is when the demand is increasing in the market. What do I mean by that? When the price hit the support zone, the probability of the price to bounce or to go up is really high because this is the area of the buyers. The psychology of the buyers will drastically change because they know that the price is cheap when it hit the support level. But don't get me wrong because trading is probability game so there are no sure that the price may bounce if it hit support. You should also be aware that the price is usually moving between support and resistance. The resistance is when the seller resides, it is where the supply increases. For sellers, they think that the price is now expensive and they think that it will now go down so they are selling in resistance level. Identifying support and resistance is hard when you are a beginner and it will take days or weeks for you to master plotting support and resistance levels but once you master it, you will immediately see a lot of opportunities in the market. One of the ways in order to make money in the market is by buying at the support level and selling at te resistance level. This strategy calls swin trading and you can easily make money by using the volatility of the market as you advantage.
On the contrary, I don't agree to some of your allusion concerning what is being discussed as it relates to trading. I think if we are discussing support or resistant zone or level based on demand and supply, I think we are going to miss the point. Support simply means a point where there is traders taking decision to either enter or exit the market likewise for resistance level and so those areas are delicate to deal with because if you get it wrong, we may lose alot of money before reversion. For newbie understanding, it is to be taken this way. Sometimes support levels can be broken easily, may not be broken and causing a reversal which is when you see a long spiking candle. There are different levels for support based on daily trader, scalper or swing trader and to look for support or resistant areas, the pivot calculator can help. |
|
|
|
Op you need to read more on support or support zone, is the same thing and whatever you understand from it or the clarity you have can be interpreted on the reverse for resistant or resistant zone. For support zone, there are basic things we should understand about support and they are: 1. Support is when price is dropping or you can talk of support zone when price is dropping or you can look for support zone when price is dropping. Resistance is opposite. 2. Support zone when finally broken turns to resistance zone because it now comes above price area. 3. Support zone when broken confirms selling trend based on your time frame. 4. Support zone for every trader may not be the same but trend is the same. 5. Support zone may not be broken down in days, weeks or months depending. 6. Support zone are very good spots for entry or taking profit. 7. Experienced or professional traders look out for support or resistant zones to enter or exit. In fact, they are happy when they are able to identify it and if the candlesticks correspond with other indicators based on their trading strategy, they go for the big kill.  |
|
|
|
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Multiple trading may be represented like martingale and nothing wrong with that if you are experienced with such to be able to control it and monitor appropriately or use your stop loss intact. Multiple trading is for you to use your money management skills appropriately, lower your leverage, use stop loss and you must have sufficient fund to carry the waves of the market. We as plebs who are generally under-capitalized should never over-complicate things regarding how we invest in Bitcoin. Plebs should not treat it like we have seven figures in capital, just keep it simple and buy the DIP and HODL. I could ask myself if I have more profit in buying the DIP and HODLing compared to "trading", and the answer would always be a YES. I believe 90% of plebs would have the same answer. Buying the dip to hodl is cool but that is not regarded as trading, that is hodling and it should be the first level of bitcoin investment for the people wanting to know how to increase capital in bitcoin by hodling. Trading is not so easy to do, the risk is higher.. You can lose all your capital in trading but with hodling you can only have a reduced value but unit of coin still remains. Multiple trading is another level of course. |
|
|
|
Can I learn myself or is important I about them from a professional?
You can learn bitcoin on yourself by even reading about it. Learning about bitcoin is different from trading it. So if you want to trade on bitcoin then you will need the chart which can be technical analysis this is like what you trade in any other cryptocurrency. What you need the understanding here is bitcoin understanding is different from trading bitcoin. Understanding bitcoin is to know the technology and how bitcoin transaction works and trading of bitcoin is to buy or sell it, you may need technical analysis to trade |
|
|
|
Good Day,
I hope All are well, am Looking a partner I have about $100,000 I want to invest in digital currencies, And I have no experience in trading. Can I find someone who wants to earn money and work for me in daily, trading method will be at my home. I live in Miami.
Cheers,
I will hardly believe your story to be honest. If you have such money to trade , you have to meet to partner with friends, neighborhood around you. Look for people within you that can also direct you to people physically that can lead you to some other contacts whom you can partner with, it is as easily as that. Such capital is big to come on a social media, forum like this to talk about that. This is not working for me to say the fact. |
|
|
|
Does this sound logical to you ? What do you think of all the interval losses from the investment gains ? Please let me know.
What you have described is trading or by extension buying and selling and this is normal. If you make profit, you have to try to sustain it by either making more profit or making less losses and by that your profit margin will be rising. So if you have made $10k in your first trade, try to sustain it by buying or selling at appropriate time. You have made a simple and normal analysis on trading, investment and it is normal hodling or selling and rebuying at intervals. |
|
|
|
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Multiple trading may be represented like martingale and nothing wrong with that if you are experienced with such to be able to control it and monitor appropriately or use your stop loss intact. Multiple trading is for you to use your money management skills appropriately, lower your leverage, use stop loss and you must have sufficient fund to carry the waves of the market. |
|
|
|
Well, sticking to your strategies that seem effective is perhaps a great idea but sometimes we need also to try new strategy(ies) because we never know if are more effective. Because I know is that trading is an every day learning and surely we learn new things in every situation that we encounter, especially when facing difficult times. And this time, we just see the importance of deeloping another strategies and will suits to the current situation that we never face before (like 2 years ago).
We can relate trading as a football team and I think one of the strategy of the game is that you don't necessarily change a winning team because if you do something you think you want to perfect may go wrong. Trading like you said is not easy and having a winning strategy is better to stick with it. If you think the grass is greener with another new strategy then you may be disappointed. Trading is about profit taking and not a show of perfection. |
|
|
|
This is the reason i always recommend every new traders to start trading with real money and don't follow any youtuber or telegram channel. As a newbie one can make many mistakes but these mistake will teach many skills and every mistake will increase your confident and next time you will be able to trade free of tention and as OP mentioned The more you trade your emotion will be controlled.
A newbie may decide to start directly to trade live account but it is better to go first through demo except the newbie has so much money to throwaway. People who trade on demo still make alot of mistakes while trading live account so there is no need being in a haste to start trading live directly. It is better to begin the mistakes from demo before graduating into live account trader. There is so much to learn in trading so no need to rush. |
|
|
|
So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you
The price of bitcoin has increased since the beginning of this month and now selling at $30,+++ , you have to consider your investment power and know your priority with to your family which is also important because if you invest now with the upkeep of your family and expecting to get it back within shortest time like few months, that will not work since halving is still next year. So it is still left for you to compare your choices but the price of bitcoin is still good for DCA. |
|
|
|
but this month is cashloss experiment.
The month can still give you profit don't be depressed. I don't really understand the mystical magic behind the technological process of this trading as if someone or something is regulating the system.
There are no mystical magic or power to it. That is the way it is and that is why you need to confirm your trade before entering and give space for stop loss because market will chase the stop loss as if it was waiting for your order. The system dash you small cash this week and collect big cash from you next week. Is not sweet to bear big loss than gain,
Nobody likes to lose, trade with caution. and this things happens anytime the market looks like bitcoin wants to boom.
I think that is chase for stop loss. I think usually when market shows you a good entering position, it doesn't just start giving you profit but it starts to trade contrary to the position and chasing you or other traders off their stop loss before it starts to profit. So that depends on the range of stop loss set for the trade, if it is closer then it will be easier to take you out faster.
I see that there is no complete expert trader, at a point everyone experience loss both robots. That's means the market is kind of seasonal, it can favor you today and hit you tomorrow.
The market can only favour you more than you lose if you keep to the professional way to trade which are good money management and use of stop loss. |
|
|
|
Hi guys, i'm a new user in this forum and I just wanna know, how do I get merits on my post. Is it just by writing or are there any other task involved.
Also if there's any other thing I need to know about this forum rules and regulations Maybe, that'd be appreciated. Thank you and happy holidays
1 post and 1 activity. This question is not what you need now. What you need is to be active and while you are then you can visit some thread yourself to understand the merit system very well and why it was introduced. If you want to know that much about it you have to check the meta board but it is still early for merit to bother your mind. You need to enjoy the forum while making your thread and responding to post to the best of your knowledge.and you can get some merit that way. |
|
|
|
That's it, cause bo legitimate exchange will ask for a deposit for verification purpose, they can go for extensive KYC processing if they feel some kind of money laundering or anything that goes against their terms but just smell it as scam when they ask money to release their money and this type of scam isn't new but the scammers are coming with new domains which almost resembles the existing reputed or new exchange.
The story from beginning has ingredients of scam alert. For exchange to ask for a deposit before you withdraw your fund, that means they want to further scam you. We have to raise a doubt within us when something unusual of that nature relating to money start to happen. We have to be careful from the source that we click to register whatever we are doing because that is where the mistake start from. Regarding to exchange, I think we can be better searching through CMC to get the actual domain of an exchange. |
|
|
|
|
Well the point about concept in trading is just like every other business investment. If you get too greedy, it will mean higher chances of losing out or gaining. With the experience that you narrated, if you guys had removed your capital instead of that you guys went in all for the profit. There is a lesson hear not to go all out for profit with everything you have with the full hope that it won't fail.
|
|
|
|
For example, when you buy a stock, say AAPL, how do you get out your AAPL from the exchange?
To this question you can withdraw altcoins just like you can withdraw your bitcoin and that is how you will get it out. There are some wallet that enable some altcoins to be stored in them like erc20. So if you have a coin in eth blockchain you can use erc20 wallets to safe your altcoins. Remember if you don't have direct access to your coin alone, it is still available to everyone including the exchange. |
|
|
|
|
A trader need to other jobs that he can source money from at least until a time he can be successful and consistently make profit from the trade. This means both scalpers and swing trader are involved. Op may be writing in terms of the availability of time for day trading because of the absence of job but it is not to think about it just on the straight way but to also look at the financial aspect of sourcing for funds if the account is liquidated. Every trader needs a source of income.
|
|
|
|
And as much as mental stability is concern, we should also secure emotional stability so that if ever our investments fail, we will never be completely ruined or affected.
In relation to this concerning our emotional stability and how it affects our investment, naturally what controls that emotion is our zeal for money. If we have greedy tendency for money or appetite for it our investment will be in such fast and quick means to getting it and that can lead to wrong investment. Some investors believe to buy cheap and shit coins and wait for luck to have large profit but most times such coins end up falling lower than their entering price. |
|
|
|
|
You are asking open ended question and that won't make you get direct answer to what you actually want to get, that is if you really have an idea of what you are asking for. I think you can give an example of what issues that you have in your trading strategy to know if you are doing the right thing because there are different strategies to trade so that you don't confuse yourself more. Therefore are you a scalper, day trader or swing trader?
|
|
|
|
|
Show Posts
