Cryptocurrency trading is not an easy work, a lots of factors comes to play in your ability to make profit. Traders work hard and trading is a very lonely job. If you make profit, or loss, you are solely responsible and on your own. Traders have higher standards for earning a living and expect others to up their standards as well!
but this is the advantage in trading, where profit or loss is the sole responsibility of the trader, so this work is free and without bringing down others. still this is not young, because we need experience for trading, in order to survive in the market |
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I invested in cryptocurrency in March of this year for Experimental. What I understand is that you should not invest only by reading the post or by searching Google. I should learn market analysis. Or there is another way to understand the market?
Indeed right. Reading and online searches aren't enough to learn but you need actual trading experience to know how really it works. We can make TA without these things but the question is how reliable it was? Of course, it never makes sense and our TA is just a waste of time. We should have to invest more time in the market, collecting the data from the market is likely the basis of our TA. We can create a good Technical analysis if we want to but of course, you can't assure that it all gonna work perfectly coz it was just still a sort of market prediction and we know how volatile the market which makes things difficult to know where it goes. How to read a graph and then draw it in an ecological analysis is really needed as the basis for our work framework later. after that we are required to comply with the analysis that has been determined. To comply, it takes discipline and psychological maturity |
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I believe that it is highly likely, we're two months away from the end of 2021 and Bitcoin has already recovered back to $55,000. We're not that far off the all-time high, which was slightly above $60k. There will be some resistance right before that happens, probably at $57k-$58k, but it won't take long to surpass that.
By looking at market habits at the beginning of the year, hopefully it will make the trading psychology of every investor move together, so that with more demand, a new ATH will be achieved this year. but if not this year, I'm sure in the future a new ath will also happen, sooner or later. therefore increasing assets is a good choice |
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I think that there will be no need for banks to use cryptocurrencies. Now, we need banks to convert our cryptocurrencies to a fiat currency because we mostly spend fiat currencies nearly everywhere now. And unless we are able to use cryptocurrencies almost everywhere, we will be needing banks in the future too. Besides, the digital currencies that are in development by governments can replace fiat forever and then, banks will also have to transform into a much different structure to be able to survive.
Mate, in many countries we still need banks as these are very important and part of life for millions because they can't do many things without them. One thing is sure this is going to be big challenge for banks if they are not going to adopt new technology and better ways for peoples because now just because of this crypto we have revolution in many sectors which is changing life of peoples, so they also need to go with this all. Now one question is many countries already done good for crypto so they already in good process for use of crypto, and they can handle this all without any bank help but in few countries where system is not updated even crypto is in between legal and illegal we still need them for converting crypto into fiat. For most countries, banks are really needed, even holding the economy of a country, until finally many people also need banks, not just the state. even though crypto is decentralized, I think it will function the same as fiat, as a currency. and borrowing and borrowing will always be there because we are social creatures |
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There are interesting equipment in different countries lately. moreover, it is very useful and meets the demand. While browsing my Instagram page, I saw one of my followers making bread on a gas stove. it was the first time i saw it. For example, this intrigued me. If it was for sale in my country, I would definitely buy it.
Baking bread for home delivery online is good for them but not all countries in the world have such a step you can engage yourself in any other work. There are many ways to work on different website blogs or forums you can use your intellect to invest or trade. Agree to this businesses right now are making their products online like posting it into social media to advertise the product which is really effective since it could make the business trending and there were a lot of people will buy it. All i can say is if you dont have skills and talents but you have a product you could sell try it selling online Yes many options are very easy to run nowadays. Given that technology is now much more advanced , buying and selling transactions do not have to be face - to - face . Online marketplaces are currently on the rise, especially since the pandemic has become an alternative for us to sell our manufactured goods. Now it's just a matter of what we want, whether we want it or not, to learn to sell products online. therefore we inevitably have to keep up with the times. With the online sales facility, a courier service delivery business is also opened, and payments can be made online as well. various kinds of goods that we can buy from home, and we will receive it at home too. and this business has been done by many people, and many have succeeded because of it, I think most of the people who lost their jobs turned to sales |
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You can try to setup demo trading account and trade in real based system that takes all the market predictions and give you some basic experience that how the trade will go on.Then do all the market research and use amount you are willing to loose and then bear them, never be emotional and risk high amounts.Rest you will learn a lot with your journey in the market with experience.Learn a lot and make some strategies and have sound portfolio that will give your profits also.
Keep yourself knowledgeable and updated not just with the basics but definitely more on the strategies and techniques that will make your trading profitable. Its a good idea that you try first with a demo trading account so that you will be aware on the usual scenario in trading and eventually learn how to end up successfully. Although its quite different when you're in real trading, but experience will definitely teach you how to trade with minimal losses. And start trading even with a small amount since you are more prone to losses at first. Eventually, you will develop your own skills and strategies in trading from your various experiences that will help you develop as a good trader. For beginners, demo trading is very helpful to learn the trading strategy to be followed. but by doing a demo, trading psychology usually doesn't work, so after that we have to start using a little capital to train our psychology in trading, until finally we will find the right strategy for ourselves and trading will feel more comfortable to enjoy |
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My experience for you is that before investing in an altcoin go to their Telegram social network and check if it works properly. Then go to the website to check the reliability as well as the project roadmap is correct or not>?
Not just that but an extensive research on the team and at the same time, they also need to make sure that the hype on the altcoin is still somewhat alive or something like that. That's true, reading the roadmap alone is not enough you need to go extensive research such as existing project or similar to that, look if they are active or any promotions or listing they are doing and the most important one is to understand what their project is by reading their whitepaper. The roadmap is just a rough time plan about their project. on the other hand, we have to understand the developer behind the project. with a good track record, then at least the project is worthy of being invested or traded while waiting for the price to pump. but we really have to be observant to do research, because this is very risky, otherwise we can trade on major coins which are purely for short-term trading using technical analysis, I think it's enough |
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I've learned it the hard way, I've lost a lot in trading and that's why I've stopped and just choose to hold for a while and sell eventually if there's a profit.
That's way better than to keep up with the market and do daily trades. There's so much burn in my funds when I did day trading. While holding for a while and selling it when it's appropriate is still trading and that's more effective to me.
You are not the only one on the boat as many have given it up while some kept pushing, got better and making profit because trading is profitable than hodling. Almost every trader will have a hard way experience in the life time of trading either while starting or in between. At first when it is going well, it may be that is just happening to profit you but surely the storms of trading will come. For a trader wanting a come back, you have to go through the right process by opening a demo account to practice and understand the market you are going in. start with small account and gradually build your skills, knowledge and confidence. indeed many traders especially beginners who have difficulty in making a profit. many of them think their technical analysis is wrong, but I think their fundamental fault lies in the psychology of trading that is not yet established. therefore it is indeed better to evaluate each of our transactions so that we know the current mistakes and don't do it again in the future |
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I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading
I think it depends on our trading period, if we are trading long term, I don't think that using stop losses is also not a problem, but for short term daily trading, I think stop losses are mandatory, because we only take advantage of the narrow space to look for opportunities to profit from there |
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What are the things to keep in mind when looking for an online course for trading?
- Reputation of the online course - Trusted and ensured websites - Social media (commonly they will have many followers or members (the real members, not fake) - The course tutor or instruction whether they are professional, experienced, and also track records - If they have a YouTube channel, commonly they will also have many subscribers, at least, they have many viewers moreover when doing lIVE. And of course, ensure that they are not scams, because if they are scammers, once you transfer money as a fee, they may dissappear. there will be many lessons that we can take while following live trading, the main thing I feel is that we must be firm, because in trading we don't always experience profits, sometimes we lose, and we must be ready to take cut losses and accept losses, until finally we looking for opportunities again to transact |
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Which one better long term or short term, I think many bad news every day do you see still good for long term, why not use short term and take profit every time when bad news for buy back and selling after raise up. We can't hold and wait price up until many bad news make almost every month, best way is short term.
I also prefer short term trading. I don't have the patience to hold the coin year after year. We also don't know what will happen to the crypto market after 6 months or a year. So it is better to take profit now without relying on uncertainty. for short-term trades, it takes profit in a short range too, because it has a short target. the market is full of uncertainty, even though we make a little profit but if it is done continuously, the results are also satisfactory. but we must dare to take risks, the shorter the time frame used, the more complex it is in responding to the market |
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something that usually happens in the market, where there are different points of view, maybe we can see sell with a certain time frame, and maybe other traders see buy with a certain time frame too, and their goal is to make a profit based on their respective analysis. therefore each trader will take different risks and targets. At the same time, there are those who lose and there are those who gain, I think this is the nature of the market
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Yes trading does not always bring a profit, sometimes we can lose money,
I think that's natural and that's part of the trade itself,
analyzing is certainly an important thing and I think everyone needs to do that in order to know what makes them fail in trading
we could not avoid loss in our trade not even expert or master traders. loss was unvoided thing in any trading, market always moved unpredicted which is we were not ready to face it while againts our position. the only thing was how to minimize this risk and loss so our trading result good be better and make us survive. quit from market was not good solution , we have been sacrife our money and time so far. therefore it is necessary to stop loss or dare to cut loss when our analysis is not appropriate or out of the framework. many of the traders ignore it, so they are dragged into deeper losses. in trading the eye foresight of every trader is different, therefore it is necessary to have the confidence to read the market situation according to personal analysis. Indeed, there is no history of an expert trader who is anti-loss, but we have to find out why they can survive in the market |
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Is this even good news?Twitter is the worst social network,even worse than Facebook. I don't get it why so many crypto users and crypto companies are so focused on this social network? Oops,probably because of Jack Dorsey.  I get it now... Despite the fact that Jack Dorsey is the biggest Bitcoin supporter(or one of the biggest),I still can't stand Twitter. I've deleted my Twitter account back in 2013 and I won't be coming back. I guess that #Bitcoin was a trending hashtag on Twitter mostly because of the El Salvador adoption as a legal tender.There's no other explanation. if this bitcoin supporter is a person from twitter, then it's only natural that he uses his social media to give good sentiment to bitcoin, that's because it can't be separated from business, of course he also wants his assets to go up soon, so with good news from elsalvador can be used as bait to make it viral via twitter, especially now trying to follow in the footsteps of elsalvador, plus ukraine which has started to set regulations on crypto |
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Whales have their own strategies, usually they are also coordinated and manipulative to make other traders mentally down. Whales will not always hoard bitcoin, they will sell it when they get a lot of profit and are on target.
Bitcoin still has a stockpile that has not yet been mined. Some bitcoins that whales are hoarding and can't open are likely to be buried forever.
and if buried forever means the supply of bitcoin in circulation is reduced, and this can increase the price. For whales, of course, holding bitcoin is a business, so it's true that after they feel that the profit is maximum, they sell their assets, and the market experiences an anticlimactic. in the end they will wait for bitcoin to experience a price correction and start buying it back. I think this cycle will always exist |
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When I'm in crypto that time i know only bitcoin no others coin come to my crypto life.Bitcoin is the most valuable coin right now in crypto market.It's day by day continue to developing. Bitcoin price increase than any others coin.Bitcoin is most digital currency. This year Bitcoin price Breaks all record. Bitcoin is king of crypto.
ordinary people who hear cryptocurrency, then what they have in mind is bitcoin. bitcoin is like a brand on cryptocurrency, and indeed this coin is the most trusted and dominates the market capitalization of cryptocurrencies. many people are interested in bitcoin because there are many stories of people who suddenly got rich because of it, but they do not know the process to get rich, so many fall into greed |
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Greed is why people lose money this way and I think they deserved it, why trying to sell something you don't work for? You don't join any airdrops you don't join any bounty promotions and yet you received free tokens? You should be smart enough to know that senders are up to something
it's like inviting people to be greedy that's true. they will be surprised to see there is a fake token in their wallet and they without thinking about it make a transaction, and as a result their assets in the wallet are lost. I think if there is a fake token in the wallet, it's better to be silent and don't respond because it's a real scammer if it's like this, and many fake tokens are found in our wallets, I think we can move assets to other wallets, so that what we see is our original token of value. sometimes we are made uncomfortable with the number of fake tokens. and don't let us take any action against the token to avoid bad things |
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I think that's just happening with Elon Musk trend. He made a clear manipulation of bitcoin, making almost the entire cryptocurrency community start to no longer believe in it. Now, we've rarely seen Elon Musk tweets become hyped. It's because of his own actions.
Elon Musk has great power, although many have left him, but in fact there are still many followers, and it is proven that he can move the market even though at this time his strength may be reduced. therefore we must be wise in making choices, as long as we are on major coins I think it doesn't matter we will do anything, as long as we are patient to wait for profit to come |
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