For me it is always good to have a plan and you should stick to your plan.
Know when to quit or cut loss and when to take your profit.
This is the problem most of the traders could agree on or most of us have experienced.
Most of us are too greedy to take the profit and thinks that it would continue to grow and it is the main reason why some lose their peofit and sometimes also their capital,
Same way to cut lose we often thinks that our investment or crypto would go up again and sometimes we would lost more because it would continue to drop.
Plans can be changed depending on the market condition that is why we have PLAN A, PLAN B, and soon. Greediness is a thing that is commonly present to all of us and because of that we are forced to work hard but what a thing gives a negative impact. It is really hard to escape from this especially when we are already thinking about money and it getting more stronger. The more plans you have in Trading, the better you will perform, it is a way of not getting cornered and lose your focus that will lead to a certain loss of profits. A clear state of mind (Zen) will help you in all aspects of Trading, it would be easy for you to move when you know what you want, what you need, how much profits you want, and how you are going to execute your plan well. Right timing is important, even you are just a seconds late could change the momentum of your Trading, you could be frustrated and bad things will start to happen. |
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Bounties don't usually require participants to include #bitcoin in their tweets, so I think this factor is fairly negligible. This chart is quite similar to google trends, and we already know that public interest is tied to Bitcoin's price movements, so there's nothing unexpected here.
Yes they do, they even requires bounty hunters who joined their social media campaign to report on their thread every week to see if they've really done sharing, commenting, and putting hashtags they required. But it's also not a perfect evidence for making any judgements about Bitcoin's adoption. When I pay for something with my money, I don't rush to Twitter to post #cash or #visa, so I assume people who use Bitcoin don't do it either.
I agree. this popularity of bitcoin in twitter by using hastags was just some hype and not totally increase the mass adaptation of bitcoin, the awareness of people maybe, that there are cryptocurrency existing in this world. I am sure that the majority of whoever sees it still doubt bitcoin and started making more negative news about it. It would help a little maybe if people who use those hashtags are still doing it without payments. |
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*snips* Bitcoin Price Factors
News background and the forecasts of experts. The events that occur around Bitcoin, directly affect the cost of cryptocurrency. For example, hacking of exchange platforms and negative statements by experts in the cryptocurrency sphere lead to decline in the BTC price. On the other hand, positive developments contribute to the Bitcoin value rise. Recall at least the inclusion of Bitcoin Cash in the listing of Coinbase, after which the course BTC price soared up.
The BTC price is directly dependent on the decisions of the governments of large countries regarding the circulation and use of virtual money. The emergence of prohibitions, taxes or fines for miners has a negative impact on the exchange rate of Bitcoin. This is especially noticeable when it comes to large market players, such as China or the United States.
This is pure bullshit, when did this happen? the bitcoin's price being dependent on the "decisions of the governments of large countries" please don't make me laugh, my parents are sleeping right now. I get what you were trying to say but it's a little off in some ways. Bitcoin was not owned by anyone, even the banks or the Government, therefore inflation rates or even they banned bitcoin in their countries, bitcoin's price will never be dependent on them. According to what I've read, these are the factors that influenced bitcoin's price: - The supply of bitcoin in the market- number of its competitors (altcoins)- the exchanges it trades on- its internal governance |
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Investment when you know you can take the risks.
Savings when you want some stability in your life.
its the same difference between having a girlfriend and having a wife.
I almost gave you merit for this great analogy *claps* Savings always come first, in case something important came up like an emergency, then second is investment. Investment for me is a way so you could multiply your savings, the only difference is that, savings are just a sitting cash, and investment is a passive or active way of having income. People who doesn't know what to do first between these two happens to lose money or profits all of the time. WE should know always our priorities to be able to make decisions we are not going to regret someday. |
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so panic selling is the vital reason for a market crash according to my experience, Of the two of your queries, I think panic selling is the worst and postpone from trading is not hamper in the market. I think this way is best when you don't understand your market's situation.
Indeed. Panic sellers are just feeding the whales causing the bearish market to be longer than what we are expecting, it is a 50:50 position where we are stock thinking if we are going to give up hodling or not because first, we need fiat to sustain our daily needs, to pay bills and other adult responsibility, second we are thinking negative things like it is now or never kind of thing. |
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There are times that I really do compare my trading ideas to others because these way I can gather some techniques to correct my mistakes. At some point
Same here mate, I consider sharing ideas with others to improve my skills in Trading, it helps me to improve my logic and how I will make a solution for a definite situation. It is more easier if you guys team up and solve a problem as one, you could rely on each other because you have all skills and talent. I admit I still have a lack of techniques and analysis to do in trading. These way I can be a better trader and learn some knowledge from an expert trader.
This is what we should all do! Denying our weaknesses and pretending we are strong or professional doesn't change anything, we are just putting ourselves in a shameful way. We are not going to grow this way, it is not going to hurt your ego if you are going to ask some help sometimes, it doesn't have any fee also, so we have to encourage ourselves to accept other ideas to be able to learn more and be a real professional in Trading. |
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I am prepared myself for trading. But i need some suggetions from here. There are many way for trading in cryptocurrency. But i need correct one which is profitabe. I am prepared myself for day trading. Is it profitabe?
Yes we can gain profits. How? I would advice you to have minimum best 10 coins in your portfolio. Invest in any one of those which is low in price. Then wait patiently and dont rush. I am sure, in 4 to 5 days time, you will certainly gain a little profit. Set your limit and look for other coin which is too low. This is how you keep shifting your investment. Certainly you will gain yourself. I'm not sure about that, day trading demands plenty of time, you have to be alert and stay awake pretty much all the time or less you'll miss your chance having so many profits in your wallet. Day trading sure gives you quick profit if you will trade the coins that has high volatility and high trading volume, such as bitcoin itself. Day trading is very risky since one wrong and you're done for that day. This is just for the people who have a strong heart and prepared to lose any amount of capital every single day, this is also called "short term" Trading. |
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Trading in crypto = high risk money management.
If you would like to make some profits, better to invest in real and serious projects, also you should make a big DD before this.
And that is the risk here that we are talking about, we are not sure if the coins we are going to invest is going to last long enough to be traded in the long run, it is hard to decide when you don't have enough information or skills to make some technical analysis of that "serious project" you were saying. The first time you try Trading, you don't have to expect something big to yourself, every professional traders was once a noob trader. |
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If you want to learn on how to do trading without putting too much effort on reading and searching for the articles and other stuff online. It is best for you to just stick on youtube and do some keyword searching about on what type of trading do you want to learn, is it stock market, forex or cryptocurrency. They are all in youtube and you can watch a lot of useful videos there.
Watching youtube videos are easy thing to do, the most crucial part is if you are starting to apply what you have watched on youtube to figure out if it is going to work or not. Trading or whatever things we wanted to do to earn money, or to live, we need to do trial and error always, that is the only way to find out. I'd rather risk something than living myself thinking forever what is going to happen, that's dumb. and not everyone learns by watching youtube videos, we have different hobbies or ways of learning, just saying. |
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I don't know why people always want to win as always, there will be no efforts and you will not gain anything aside from money if you will not suffer any loss from it, where is the thrill on that, where is the fun on that. Things will be boring if we are always going to win, if we are always going to succeed and will not experience any failures, it would feels like we are not even alive anymore. I know it is depressing to lose a huge profit but it is part of Trading, you lose and sometimes you win. You can't win if you will not lose and the other way around. always want to win has become the basic nature of humanity. we can not avoid it. people will always look for the easiest way to make a profit, even in very risky investments, they will always look for ways that are far from risk. unfortunately in trading, there is no shortcut to that. the odds are always 50% to 50%, loss or profit. many people who have been looking for ways to avoid risk, but in the end, they just do a variety of analyses. we cannot avoid trading without losing, so I have advice for those who are afraid of losing in trading. sell when you already feel profit, and don't wait for other opportunities. it is the best step to minimize risk. That is exactly my point. People know that Trading is risky, but they still jump in and took the risk, however, they are also hoping at the same time that they could probably trade without losses which contradict their decision about starting to earn money in Trading. This mindset will just upset them if things will not turns up well on their every decision, they will just lose their capital, got pissed off then quit Trading. People like them are mostly ended up with nothing, they don't have the guts to finish what they started. |
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Does the exchange you're using not have a built in chat? It's a good place to get into discussions about different coins if they do. However, watch out for trolls. They don't call it the trollbox for nothing! There will be people trying to sell you on crap just because they have sell orders in that they want filled. But, you can find some intelligent people in the chats of exchanges. Just make sure that they seem like they may actually know what they're talking about and you'll be fine.
Also, Twitter isn't a bad place to get into discussions about trading. Just look for a big signal group making posts on there. There will be discussions about their picks in the comments of every Tweet.
I don't like using this feature when an exchange have this, I always having trouble on back reading the important conversation because it is getting flooded by nonsense chat sometimes. A Telegram group chat is really good compare to what you have said, anytime you could go back and reread what you want to reread, there is no hassle because you could take your time reading and the conversation is still there. Unlike in exchanges, when you logged out and log in, a new set on conversation is in the chat panel, it is annoying to be honest. |
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I hope you guys know that you are just repeating the history, that man who paid a lot of bitcoin in just one slice of pizza. Let me elaborate my opinion about this. If there is a store selling burger that cost 0.0005 Bitcoin (let's say the price of bitcoin that day was $9,000) and you bought it using bitcoin, the other day the price of bitcoin changed to $9500, you just lost $.25 in one burger, what more if you are going to use cryptocurrency on buying things that could be bought by fiat just to say "Hey I have bitcoin" in a way.
This is what we called wants and needs, our "wants" must be in fiat, and our "needs" must be in cryptocurrency.
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I suggest to hold your XRP. You have already invested on that for a long time. < ~~~~~~~~~ >
More also, having an extra income from outside the world of cryptocurrency will boost your portfolios if, you take time to invest in BTC and also, buy more of Ripple. Its not advisable to sell out what you have been holding for a longtime becasue, cryptocurrency market is unpredictable, sell out today and the price gain 1000x tomorrow. In your case, holding is the very best for you now than selling off your portfolio for Bitcoin. Extra cash will play an important role here. This is very true, proven and tested. Making decisions out of nowhere will also lead you nowhere, I know that it is hard to resist the signs that the market is giving us to make our move, but selling out the coins you are hodling for a long time is a very dick move. A lot of scenarios could happen after that, when you sold your XRP because bitcoin's price right now is too good to buy and hold it, then the next day you woke up, bitcoin's price even dropped more, but the XRP price is just the same. to make the long story short, don't sacrifice stable coins like XRP or even the coins you hold for a long time, ask some fiat on your family and use that to buy bitcoin, that would be a lot better. |
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The man who invented the bitcoin Mr. Satoshi Nakamoto, let us gave him a really big THANKS for founding such method, he didn't like revealing himself lets RESPECT his decision, let's leave it a mystery, and of course it also concerned about his security. He gave people another hope and way of earning some real money.
A lot of people are bombarding questions about who is the real Satoshi Nakamoto, blah blah blah for years, I mean Satoshi himself did this for his very own personal reason or for the better of bitcoin, cause this guys, if he didn't leave the cryptocurrency world, when bitcoin started making its name to the public he will be a sore to the Government, making such technology which no one should/could control to function. Bitcoin would have been dead or gonna be centralized by now if he didn't hide himself, the Government could easily find him in the right amount of time they need. |
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people who dont understand technical analysis say its bullshit
people who dont understand investing and trading say investing and trading is a bullshit
here is the reality none of the trading system is 100% accurate
people who understand and practice the analysis will make money , i my self making profits using technical analysis
just ask yourself how much you have learnt and practised technical analysis , dont believe in this post you will get 100s of posts saying technical analysis will work and will not work , and knowing other things on whats going on with market is also important
This is the most easiest question ever. If you are a trader and if you do not know the technical analysis, how will you succeed in your trades ? This is like you want to be an engineer but you never got the training for it. Technical analysis is a must learn if you want to be a trader. If you're not a trader and just causally look at the market and prices, then you can go without it. Agreed. We can't step forward if we are not going to study our past, we learn from our past for us to be prepared in the future, which is why technical analysis is the basics of the basics in Trading cryptocurrency. It is all about studying the past and the current price chart of the cryptocurrency to have a better understanding about the potential of a certain coin, but this doesn't guarantee you that you could make profits when you use this approach in Trading, it is still depends on how you are going to perform. People who jumped straight forward in Trading without any knowledge about trading are mostly who loses profits all the time. |
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In crypto , everything is possible and risky.
Possible means
You can do panic sell in order to minimalize loss because let say if bitcoin suddenly worthless by next week
But bitcoin will not be forever worthless in the following next weeks (for example),and panic selling will not minimize your loss, it is the opposite, once you sold your coins because of panic selling, you'll lose the chance of selling it on the right time. Risky
If you're postpone / holding, you can experience more losses or more profit.
Personally I hold btc over 5 years and it's PROFIT !
I guess your brain functions the other way around. Holding is more reassuring than panic selling, with this, you have a peace of mind that you just need to wait until the prices of the coins you are holding will be back to normal or maybe make another All Time High, it might took some time but profits is all worth it. |
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Nosedive into daytrading. Learn about candlestick patterns and stuff. Don't follow signals group and study the sentiment continuously.
I agree. You will just regret following other's order if you are making a trade, they don't work out perfectly fine most of the time, just like you, they are also taking the risk sometimes to predict what is really going to happen. Follow only groups that have accurate judgment when it comes on making profits every trade, and they are not here on this forum, I mean it is easy to say that "I am a pro trader" but the truth is they are not. |
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300$ is a good start for you to do trading, and I believe that you can double it in one month mate.
But of course, while you're doing it, you should also do some self study about trading in this crypto business
because you're gonna need it here as an individual trader.
100% profit in 30 days is not possible all the time,so don't get this kind of goals to be achieved especially when you start your trading career because you will end of with 100% loss.Keep the things low as much as possible,like 10-15% will be a good target and avoid intra day trading as well when you are in learning phase. You will not get it if your mindset is always at long trade but if you do leverage trading and know how to stop loss and gain the profit then 100% for is quite reachable, I saw several traders earning that percentage and quietly they are still killing the market eventhough there's a dump happening right now. And for newbies they should learn the basics before going in or maybe they should seek a mentor that can help them for there trade ventures. Its possible but not always and most likely impossible for a newbie or rookie trader,that is the reason I suggested what and how should be their goals when they begin with. Very well said. Dreaming high is not bad, it is free, but we need actions to achieve that. Starting in Trading is the hardest thing for me, a lot of things are should be learn thoroughly to acquired knowledge that would help you to build your foundation. Motivation is also needed, that's what is going to make you move forward to achieve your dreams, even that 100% profits in 30 days, you could make that happen. We just don't stop learning to be big enough, to earn big enough, and to make our dreams big enough in Trading. |
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Yes you can. Practice makes perfect. You need to start in order to make use to it. Experience will hone your skills. Just make sure to trade the safest amount.
Big Capital or small capital, it won't be safe if you have only few choices in your mind, it's like when you have two, Choice A and Choice B, the A is "panic selling" and B is "buy low and sell high", with this tactics, you will be cornered by the whales and you will surely lose your profits. For beginners, the commended step to start in Trading is not directly put yourself on Trading platforms, hence you have to install applications that will help you to practice trading, where you will have a "fake capital" and that is the one you will use in Trading. This way you will know in an instant if you really want to trade and take the risk in cryptocurrency. |
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I have heard some stories about making bitcoin transactions illegal. It's all been a humor and I don't think any government have officially made bitcoin transactions illegal. Why is that?
Many governments are trying to regulate bitcoin, control exchanges and force people to be authorized. But I am sure government wish bitcoin was not created and there was no trouble of regulating bitcoin. They prefer their fiat to any other currency.
Why no government have made bitcoin transactions illegal?
I think they want to avoid creating an underground market.They don't want bitcoin to be traded like Alcohol and drugs. They have to accept bitcoin as they cannot stop a decentralized network and now they can only try to regulate it. Do you agree with me? Is there any other things have caused governments to not make bitcoin illegal?
The reason why haven't governments legalized bitcoin transactions because of illegal activities that are happening such as scams and frauds, that is why there are a lot countries who banned bitcoin like china and etc to avoid this kind of illegal acts. I think it will be better if we can remove every illegal activities in crypto, so that the governments in every country will start to legalized every bitcoin transactions. It is not completely illegal, they can't completely shut down bitcoin because it is decentralized, what's happening here is they are banning all of the access you could have to earn bitcoin, like mining, trading, just like what happened in China, in other words the stars are always up there but you can't see it because of clouds, I hope you are getting my point of view. The Government are just spreading nonsessencial informations that are most misleading to discourage the public to adapt cryptocurrency, because in some countries, bitcoin is a threat. There is a rainbow always after the rain, because the countries where bitcoin is legal is more than the countries who hates it. |
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