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Again wrong. Trading bitcoin is extremely easy after 5 years of doing it. All I have to do is buy when I see a certain amount of volume on a big drop. Its not like ordinary trading where you have to make your wins bigger than your losses. In bitcoin I always win. Yes it is alot harder once the bear market really sets in. I tend to stay out during this time. Within a few weeks I will be finalizing all my withdrawals (into a ratio of cash and bitcoin) and you wont see me probably until the next halving.
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ITs not gambling. Buying a 50-70% crash with a volume candle that eclipses everything else on the chart is a 95% win. The other 5% is the exchange youre trading on getting hacked. If you think it's gambling it's because you're new to bitcoin and not familiar with how bouncy and resilient it is.
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I'm not obligated to provide anyone proof here. I'm simply describing how I came to the opinion that daytrading can work. It's very easy in Bitcoin. There are super predictable patterns that happen over and over. Buying a 50%-70% drop in a short time is always a win. A high volume is always bullish. You also get to trade on smaller exchanges that aren't the leader and you can play follow the leader and have a 5 second advantage. The same shapes on the chart play out over and over. I've seen them hundreds of times. There is tons of volume. It's truly a different market than anything else and we have an advantage because the professionals have not penetrated it yet. It's like a hack. I'm probably not going to trade anything else after I trade crypto because it would suck.
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I have outperformed bitcoin by 10,000% by daytrading and these increases have been steady since 2013. Daytrading is not gambling. It is a simple system where you learn to buy high volume dips and crashes, and breakouts. I guess 'Daytrading is gambling' is like this nice catchy excuse for bad traders for them to blow off steam.
Rofl show some proof. This is 100% a lie. You are claiming that for every dollar you invested in 2013, you now have $10,000. I don't think you understand the claim you just made. It's like saying you can run 100 meters in half the time of Usain Bolt. It's laughable. I first bought in when bitcoin was around $200. For every dollar I initially invested, I now have $5,000. If I merely bought bitcoin, that dollar would now be worth $50. You will have to take my word for it. It would be impossible to prove this and any attempt to do so would be rather dangerous. |
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Do we expect the bankers to allow a company called 'Robinhood' to exist for very long?
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I have outperformed bitcoin by 10,000% by daytrading and these increases have been steady since 2013. Daytrading is not gambling. It is a simple system where you learn to buy high volume dips and crashes, and breakouts. I guess 'Daytrading is gambling' is like this nice catchy excuse for bad traders for them to blow off steam.
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How can you have a -350% loss? Doesn't make mathematical sense.
No good holding everything you've got in bitcoin. You've got to have a time to cash out and a time to buy, as a speculator. No speculator ever hangs onto their entire portfolio and not liquidate one single asset.
While I do agree with spreading a portion of your portfolio into cryptos, and hold that for the long term in case SHTF, you can probably be a lot smarter than just holding. It's obvious problems that people aren't experienced with the markets and blindly investing, then panic selling as the markets go down. But holding until you make a profit not always works in practice.
Either they are trading on margin or they are referring to 100(1 - 100 / 350) = 72.4% loss. The loss was actually 72.4% but they're calling it 350% because if they had sold at the top and rebought at the bottom, they would have 350% more coins, like me. |
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Theres always a super cat after the big crash. Sometimes the cat is dead. Sometimes it's just napping.
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Stop losses are more of an issue with altcoins and margin trading than with regular bitcoin which is very forgiving with tons of bounces. The biggest mistake in bitcoin trading is buying at the very bottom of a huge crash and then selling for a 5 or 10% profit while forfeiting the other 150%.
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Your comment makes no sense. An unstable price is exactly why there are daytraders. If the price was stable there would be no trades to make.
Somehow OP is right and makes sense since at some point of our trading experience, there would come a time where we bought at a high price. He didn't point out and blamed unstable price for it also. The point about what others do in order to minimize losses is also spot on but it is not the wisest move all the time. Another way others use when facing this kind of problem is by hodling. It can be beneficial and risky at the same time. Nevertheless, it is the best option to profit from the investment one had made even if it requires changing from day trading to short term or long term holding. I'm responding to vintages, not OP. |
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Your comment makes no sense. An unstable price is exactly why there are daytraders. If the price was stable there would be no trades to make.
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When that loss looks so steep and too big to take but suddenly the chart scales down and you're at a 10 times bigger loss.
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Support wont do anything about it unless I sign a message with a bitcoin address but I never posted one. It's kind of an arcane policy.
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YO TERA
what is up with your old account?
It is not me. It was stolen by someone in another country with poor English and poor comprehension of Bitcoin back in October when everyone's account was stolen. Apparently my account was worth 0.711btc at the time. It appears it became active again today. I donty know if this is the same person or if it was resold. I wonder what my account is worth now? Should we buy or sell TERAs? |
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IDKFA  |
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The FALL of bitcoin! I'm still trying to comprehend how we're talking about the "fall" of bitcoin when bitcoin is 5 digits. Do you mean the rise? If you told someone in 2015 we would be at 11K today, you would be laughed away.
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Isn't calling things "2.0" from way back in the 2000s? Should we be at like 4.0 now?
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Extrapolating the bitcoin chart from the past years hasn't worked very well since 2013. You cant assume there is going to be a breakout every 2 months or 9 months or whatever.
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it's time to begin my premature selling where I only take a measly 80% profit and miss another 40% or so.
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Let me muster up some thing really bearish to say.. it's going straight to $2.
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