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I think there is nothing wrong with having a high expectation. Like I hear multinational speakers saying it is better for you to plan and aim higher so that when you don't get the high target then you can still settle for some below and better. It is a target to work towards and it keeps the person who want to achieve it not to be lazy but to fight harder with the picture of the target on his face.
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Many time i noticed when i sell bitcoin or altcoin sell since then price grow up and up. And when I buy bitcoin or altcoin then price low day by day.
Don't always dwell on this because it is not always the fact but other people have also assumed it the same way like you. It is just a coincidence that after you bought a coin then you notice it went down, nothing as if it was planned that happened but only that price movements is the reason. At some times also you see the price going your direction when you take an order. You can check your indicators properly to be sure of your direction and not just to gamble on price direction without proper chart analysis. |
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Your successes over the past five years: How well have you managed to increase the balance on your account during this time? Or have you lost everything? Tell me your story.
It's not just cryptocurrency that unites us all. We all became different after we learned about her, and went deeper into her knowledge. And now, even if someone is not very lucky to increase their deposit, then you probably have accumulated experience, and you can share it.
in the five past 5 year the crypto journey has been a journey of lost and gain, these are experience that has widen my knowledge concerning crypto and has taught me the good step to go about crypto investment. 2 years ago I joined the forum which has really helped me in accumulating bitcoin. The mistakes and risks I experienced all through my crypto journey is part of my success story, because I don't think I can make this far without mistakes. The journey has not been smooth all the way and so it is not about 5 years because our experiences are different. Before I started getting the positive results I initially made so many mistakes that got me always down on toes, this is why the journey is not easy. It has been alot of mistake from keeping shit coins and trading wrongly but with wisdom I have grown to understand a little more above what I knew about the market for now. |
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My friend's story sends me a signal: no matter how much I earn right now, try to keep my job and souce of income stable. I am also a family man and have responsibilities. Anything bad can also happen to me so I have to be prepared to the unforseen problems, although I am doing fine now. Make hay while the sun shines. If you have any advice for my friend, please let me know. Thank you.
Whether you have a good job or not, or whether you are careful not to lose your job is not really important but what is important is the policy that can affect our line of income or the environmental change or condition that affected your friend. Therefore, what we can do is to diversify our source of income into different places that are not related so that economy challenges will not hit them at once and we can keep surviving and reinvesting when we have saved up some money. Challenges will come especially health challenges and it is also related to old age. Making hay while the sun still shines also depends on the capital we can gather to diversify our source of income. |
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The indicator that I think I prefer is support and resistance. There are other indicators though that I can combine with for better trade. The reason for choosing support and resistance above all other indicators is because it doesn't move or lag behind, it is permanent at whatever point it is and doesn't repaint no matter the volatility of the market.
Support and resistance can change and flip each other when market changes its trend from bullish to bearish or from bearish to bullish. At the spot when their is volatility or bull , support and resistance doesn't change. It still remains there and not change until the price hit. This is the point I'm making that it doesn't move from such point where you have calculated it unlike other lagging indicators.
Strong resistance will become strong support and strong support will become strong resistance after each trend change.
This is true and a fact because when the reversal happens then support and resistance also reverses, so you are correct on this |
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Dubai is not like you have picture it here and your title making same assumption that Dubai is an example to other countries but I don't agree totally on this. Dubai doesn't have freedom of religion to other people in their country, they are restricted in certain ways not to freely associate with others unlike countries like USA or Canada. Also the high paying jobs in Dubai are left or reserved to the people of Dubai alone but this is not so in democratic countries like USA.
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the price of BTC will surely reach $80k before the end of this year 2023.
Are you sure investors will experience $80 this year?
These are two different questions and you are in the position to give a precise guide of your assumption and prediction of the price of $80,000. At the main time and with the way that bitcoin has increased these few days and the beginning of the year. This year may be different anyway from the movement as it is steadily increasing in the year before halving which is not the usual way of the movement. However, I'm not expecting the possibility of such price before halving. |
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Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve?
No because that is slavery of oneself. Slavery is dehumanising and to give yourself such a treatment is just worse of it all, why deprive yourself of what you can afford? That means you suffer or labour to make money and you also labour to eat from same money, that is bad. Money is meant to take care of our challenges whether direct financial or indirect, money is important.
Do you keep significant savings for occasions that might only happen in your imagination?
It may not be intentionally. That is when you don't have financial challenges then you can save but if you do then you can't save if you barely survive with the little you earn.
Or at what point would you allow yourself to be drained of your last penny?
Health and medical issues because it involves saving of life and that is why they say health is wealth. If you are alive then you have hope of being wealthy. |
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The indicator that I think I prefer is support and resistance. There are other indicators though that I can combine with for better trade. The reason for choosing support and resistance above all other indicators is because it doesn't move or lag behind, it is permanent at whatever point it is and doesn't repaint no matter the volatility of the market.
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Trading or digital skills can help with keeping up with the bills that accompanies acquiring education, except you have enough fund that can be risked in Bitcoin investment then it will be a nice shot.
I think Op should have the option of trading as the last solution and it is on rare situation for you to trade as a student because of the risk that it involves. You can lose all the savings you have in trading or if you try to take a quick risk to trade in option of using your money for school fees at the future time but you can end up not having the return you expect from the trading. So except you have already started well in trading before turning to a trader. Therefore channel your profit or investment idea out from trading, except you want to do hodling but that is a longtime which may not be good for a student. |
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My question is that are you sure that trading terminologies is the main challenge that you have because I have not heard such complaint from traders. What I believe is that every field of life has its own terminologies and you need to study and understand the field before you get to know the terminologies there in that field. So by the time you are learning and studying the field, you also get to understand the terminologies naturally. Likewise in trading field, you won't be outside and try to understand everything that goes on in trading, if you start learning through demo practice then you can natural understand them but if you want to understand it without being a trader then you will have more time to understand it because you won't be meeting them often. Well some of those terms I think are bull, bear, rally etc. You can also learn more from this board.
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I think addition is what we like to do despite the challenges that we face in it and the negative result that we get from it, so in regards to trading it can also be an addition but not that of gambling but of course it is an addition when we are either losing money from it or that we are not getting adequate and good result from it . In this I think those who are finding it difficult to make profit in trading are kind of in this category just like the gambling addicts also
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But now am not into forex trading am into stock marketing.
I buy when the price is low and sell when the price increaseses.
And That's how I made my first $1000
Buying when price is low and selling if it gets higher is the ideal of trading both real life and online, both stock, forex or cryptocurrency. Now that you have made your first profit don't throw caution away because you still need to understand that there different risk in trading so you need to trade with all the mechanism of trading to avoid unnecessary and huge loss as it looks you and your friend are trading with heavy risk tendencies. Be careful not manage your money well to avoid huge losses when it will come. |
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 The image above is from Huobi exchange, it shows that now matter how good a new innovation is, the old ones won't want to see it prevail, they will ridicule it to the core, do not be fooled, technology is advancing and Bitcoin is simply the most reliable better digital currency and a big headache for the banks. Stay away from any Bitcoin FUD and always remember that Bitcoin has faced death so many times and still prevails, this is beyond stoppable for the haters now, the only thing they are capable of is the CBDC and FUDs. I just have a fast understanding about this picture and what is on it, which is if you have something you have made up your mind on and you see a positive growth on it go ahead and do it because no matter what you do there must be critics that will try to pull you down. Every new technology takes out the old one and of course the new one becomes the new normal and potential for profit both from road transport, agriculture, finance etc.Haters are all over but strong willed investors are still going on strong with bitcoin. |
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I mostly rely on price action, support and resistance levels and maybe have a look at a few simple indicators (RSI, MACD)
This is like the resolve of many experienced traders because they have sojourned up and down the market looking for easy and short cut to making profit but it has not come that easy. At the end, as a trader that want to be focused, you have to look for a strategy that you can understand and believe that no strategy is 100% if you are making profit then stick out with it and be better on it. I'm of the same view with you, using support and resistance work better then addition of few more indicators like RSI and MA helps to make the chart clearer. |
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If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?
Is simple but first you are not alone in trading because you are interacting with your indicators, comparing while also analysing them. To your other question on how to know you are not wasting time, of course you see either you losing your trade or you are gaining and either of those outcome is a function of your action from the interaction and analysis from your indicators. |
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The only question is when will it happen? Well, if we look at how fast inflation is going down, I can assume that it will probably go down to the expected 3-4% in the Q4 of 2023. So I'm not expecting a bull run until 2024.
But again, I don't want you all to be bearish on bitcoin or selling it. For most people, DCA is enough to survive this crypto winter, but if you want to invest a lot of money in bitcoin, then I think it's better to wait until the signal we talked about.
BTCBTCBTCBTC
The beginning of this paragraph above is what is important, when ? That when is what nobody knows and you have made the post look like you are sure of what will happen with the price of bitcoin whether winter or summer. As far as the price of bitcoin is concern many investors only have the idea of bull and bear in mind and they know their target and they look forward to halving to take out cash or go in. |
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3. Fear of leaving money on the table:
The fear of leaving money on the table is a tricky one, as it often arises when we’re in a winning trade. It’s tempting to hold on, hoping to squeeze out even more profits. But this can be a dangerous mindset that can lead to ignoring stop-losses and exposing to unnecessary risk. After all, you don’t have a crystal ball (and aren’t an FOMC member), so you should not expect to buy the exact bottom and sell the exact top.
By having a predetermined exit plan, we can lock in profits, manage risk, and avoid emotional decision-making.
Embrace discipline by having a clear exit strategy that balances the desire for profits with the need for risk management. Trust your strategy and stick to your plan to be in a better position to capitalize on future opportunities.
Fear of losing money I think it is possible to pass that stage with experience because an experience trader understand that any order can turn out to be wrong even with the clear positive signal, so on this I don't regret if I'm outside and I understand that there will be more clearer signal and opportunity to make profit. The aspect here is early exit. This is what I could regret sometimes but on a second thought I get excited if I'm actually running off with some profit because being satisfied is better than being greedy. |
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It seems that until now I have never done an analysis using tools or similar services which are widely available, because I myself don't really trust it. always try to use my own analysis predictions, even though they may not be completely reliable, they can add confidence to continue to hone better in the future.
I'm really sorry I can't share what you want, but I'll also try to see what other friends share and want to analyze first whether it's really useful.......
What else do you trade with if not indicators or are they your personal robots? Even if they are robots, they are also built or founded through indicators. Indicators are just guidelines that we use to have a trace of where the market could move to. So whether you are using default indicators or those that you have built you are still having a clue from the market to analyse. |
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