Likewise in gambling, the summary of it is to trade only what you afford to lose.
My addition to it is to strengthen your emotion.
Gambling and trading are way too different. I think that trading becomes uncertain just because of the down market. It is just something that is never perfect. But, you do not always loose in trading. It is a mater of the market cycle. When the market is good enough with the prices of some of the coins rising, it is always a perfect time to trade. Like the present market which is expected to rise in days to come. I don't think he's comparing gambling and trading dude. He's saying that there are certain aspects that are applicable to both, like only spending money that you can let go. And he's right. Both gambling and trading have uncertain results and big risks and it involves your hard earned money. Panic selling is a result of seeing money you can't lose being dumped away. |
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The crypto market is currently very unstable. I am easily affected, in panic selling conditions like now I sometimes sell bitcoin at a price lower than the purchase price. The result is a fatal loss.
So far, I have only relied on news information obtained from forums and social media and a little understanding of the foundation of price charts and market movements to make investment decisions in Bitcoin.
Then what is the way so that I can make a big profit ...?
How to effectively avoid unnecessary losses ...?
The main problem is already in your posts which is panic selling. If you can overcome panic selling and then continue to hold then that is where you can achieve huge profits. The law applies in to any investments like taking care if your business until it grows bigger and getting tempted to stop because you don't see quick returns immediately. It is our strategies and effective planning are the things be needed to run a business which could possibly resulting into good and profitable. Worries, emotions will be our enemy in this field and we mostly affected it causing into not thinking the right decision, and it get worst to think of quitting. The first thing is to change your mindset about gaining big profits and avoiding unmecessary losses. Even long time traders experience those all the time. Just don't be afraid of the risks and accept the losses as lessons. Along the way you'll eventually pick up trading strategies that would work for you. Trading requires huge amount of patience. |
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My first trade began with a very small amount: it was 1000 Satoshi, bought a token and immediately set the price more expensive, as I bought, I bought again, so further, and I managed to reach 20 000 Satoshi in one evening, and it seemed to me interesting.
yup, almost all of us start with a tiny transaction, even airdrop tokens =) Well lucky you the tokens were good enough to give you that much profit in a day. But what are the chances it can happen to other people? Most tokens you get fron airdrops are worth nothing and don't even get into exchanges. I've had a lot if tokens from bounties but the only coin i was able to use in trading were the payments made in bitcoin. |
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There is nothing as been late for the party I think what you should do is organize yourself and keep up learn to trade check out the market and see how you are going to benefit from it simple
For sure no time is bad or no time is late to enter the market of trading, but make sure when you enter the market or when you buy the coin price is not so high and the coin you bought has huge potential to rise, in short choose the promising coin, I prefer trading in because it saves our money and but even if you enter you are on right time, it’s never late. I think that we are still at the stage of development of the cryptocurrency market and we have not even reached the middle of all possibilities. Although because of this, we still will have not only positive moments, but it will not do without falls too. In any case, each of us looks at the past years and of course regrets that he did not make an investment during, for example, at least in 2016. In my time, even in 2009, I was very skeptical about Bitcoin in general. Tell that to the people who bought at 19k haha. There is a bad time to get in the market if you don't know what you're doing. Imagine the horror of buying in close to ath with the hopes and expectations of quick profit and then seeing your capital reduced more less than 50%. You can enter anytime but you have to be prepared and you have to know what you're doing. A lot of people who started trading today will likely be good traders in the future. |
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At this moment holding bitcoins is by far the best option. Holding at this time may have great gains in the future. Day trading in bitcoin might not be a bad idea but the price of it can drastically change in a day it is either good win or bad loss. You can profit in btc but it only depends on your luck. But holding is highly recommend, you can also add in it later. Sad
I think when they buy bitcoin when prices like now are good and can provide benefits for you, but if you buy bitcoin when the price is high and the current price falls then it will make you depressed because the assets you have are stuck at high prices, that's which is called the risk of trading on cryptocurrency Although we are seeing this market now as a good timing to buy, but we cannot assure that everyone are seeing the same. Due to a long bearish period, it's possible that some are already losing faith and they dump at a loss and take whatever money they are left in investing. I will not be very confident also in saying that only the smart ones are seeing it's cheap now because we can't predict the future. Bitcoin hasn't been a good coin for day trading these past couple of years and it's possible that it won't be anymore. It's become an investment. There are a lot of good coins out there that you can do agressive trading with but fot me, btc, etc and probably the top5 coins are for long term holdings. There's more profit to be made when trading with alts than btc now. |
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If you know how to manage your money even if you invest at a critical point you will not lose half of your investment if you have a good grasp of managing your trades at a moment's notice. Every now and then you can invest in every trade and even if you are going to lose you will know when you are going to back out to lessen your losses. A big advantage you can have is if you know how to lessen the impact of loss you can get another chance at another coin to earn.
In some case, we should have to consider the market condition as well as the current trend of a certain coin. If you are a wise investor, you've probably never invest when the price as its peak but to take opportunity during dips. That is we usually practice even before and there is no wrong with that in fact, it is very effective and it really make sense. It's not just some cases dude but most of the time it should be like that. I don't think those people that invested in january 2018 are very happy with what they did. Unless of course you have a lot of money and is treating your crypto investments like time deposit in banks. The market has ups and downs where we determine the better time to get your money in. |
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At first I also thought that the bear market is very much hinders to earn, now I see how very convenient it is possible to trade on it and get a stable profit when there are no big changes in prices
You would be surprised to know and this will strike you but some of the experts are of the view that this is in fact the bull market. Yes, you heard it right. The normal and general perception about the bull run is the high prices that are linked and related to the bull run but that is not so according to the experts. They are of the view that when the market sets in and a sought of stability is achieved, that is the Bull Run. I don't believe that. Stability with no considerable upward movement isn't a run at all. Though i don't think we're still in the bear market anymore. The value is slowly crawling in an upward trend and that's good but in no way it is a run of any sort. Unless we go stratight up to above 5k levels. Then people may think about an actual bull run. |
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Cryptocurrency is not a get quick profit scheme, as many people think. As the market has been in bearish mood, making profits have been very difficult. Recently, a few coins have pumped, but still holding is the best strategy.
Exactly. Like it takes you time to make money in traditional market which is not very easy, same is the case with cryptocurrency. It is not an overnight thing to make big money in cryptocurrency. Bull Run in cryptocurrency market is not a game of a day. It took Winklevoss Twins to make a billion dollar in Bitcoin in a span of ten years which is a big time. So, be patient and make money. And how do you even make quick profit consistently? Getting out with a profit of 1 percent or less doesn't seem to be profitable at all not worth the time and effort. Even successful day traders are likely not getting daily profits. If you're like me who, i'd say is just an average trader, i'd lean more on the mid to long term trades. Less risk of falling for sudden market fluctuations. |
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The situation has been very difficult both bounty hunters and traders for some time and not many of them have been able to earn enough. If your rank is higher then you can definitely earn some by participating in bitcoin signature campaign.
I understand of what you're thinking of. Yes its a big struggle for everyone with the current market situation right now as mostly everyone aren't making good profit but even that we still working on it and tried to generate more income. This is how it plays right now and those person who are strong enough to fight the risk in the market today will only survive. It shows that we can't really depend entirely in bounties, campaigns and trades especially if we have bills to pay. Unless you're pretty well-off financially then you can afford to just stay trading. If not, then better to have a steady source of income because times like this in crypto will happen again. |
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even though we see a lot of videos read books and know that if we do this, we will be profitable but at last we do same mistakes and lose what could be the reason 1) practice and experience 2) with fear of losing or missing profits we just f*** our trades 3) patients 4) or what other reasons could be?  ?? please comment Maybe trading is not your passion or expertise, in trading, in my opinion profit is not the main factor to make you successful, even though profits are often a benchmark and I think there is a separate side to profit. You say you have read a lot of books and looked at the video and do you really understand the information and lessons that were delivered. Exactly, if it's not your passions though you read a lots of informations and watch different strategy it's still tough for you to practice those and succeed, trading is not for everyone we should accept the facts that there's skills people who can take advantage and find their edge to survive and compete with others, if you can't adjust and you are still not getting anything better to assess yourself, maybe its time to move on and change your activities. Even if it's not your passion, you can still be an efficient trader and have successful trades most if the time. I don't think most successful traders actually are that passionate about what they're doing. They're likely detached from all that. Reading and watching trading related things are good but experience is always the best way to excel. Trading is about taking risks and experience teaches you a lot about risk management. |
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Hello everyone,
I'm new to the crypto world and have been trading for 2 weeks. I have a job in Marketing and trading is a way for me to earn extra money. I often focus on trading after work because I am quite busy at my office.
I'm very curious about how's your day going? anyone here is a full-time trader? When do you start trading? Do you look at the screen and read all the time? And if it's not too private, can you estimate how many percentages of profit you earn a day? Making 10% monthly in a flat market should be considered a very good result Obviously, your profits in a rising market (or falling, for that matter, if you are into shorts) will depend on how steep is the rise (fall). Other than that, you don't have to be glued to the charts and your monitor all day long but you should definitely be around when the price starts moving big time. That means you may not make a trade a few days in a row (this is where you should keep patience at all costs and times), but in such cases it is always the calm before the storm. And when the storm finally comes, you should be ready to strike while the iron is hot Right. And make use of the trading features if you don't have that much time to spend observing the marker. Buy and sell orders and stop loss are very essential especially since a change of movement in the market happens suddenly. There are also some mobile apps you cab use as alarms and notifications about certain coins' prices. |
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for this year there seems to be a pretty good wave for the market, because from now on the market has started to have a good increase even though it is still slow but I am sure that until the end of the year the market will definitely rise again
Good wave starting from these days as increasing market is approaching. The increase on price is noticeable compared to its price month's before and is recommendable for investors to go ride the low wave right now as it is expected to be big before the year ends. Trends and waves are pretty similar when we use it in the market though. A trend changes like the ups and downs of waves meaning that anything that's happening now canake a sudden chamge of direction without any reason. Imagjne the steady trend btc had for november last year. We all thought the next movement will be up but we plunged roughly another 50 percent. |
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There is a recent addition in most exchanges and that is stop loss capabilities. Do you think this will improve trading experience and ensure one remain profitable on the long run? What is your thought about this?
The stop loss feature is a useful feature that should be used with extreme caution, although it is a useful feature for everyone. Unfortunately, this feature is used incorrectly by many people. The use of very low stop stop loss will often cause damage in sudden price fluctuations and should be used at an ideal price range. Furthermore, it is necessary to be selective in the field and service that it is used in every service since this is not working perfectly. I agree. I think most of the sudden dumps have been affected as well by trades hitting stop losses without the traders even being aware. It iss helpful for loss control that's for sure. But if not used correctly, it affects the market also. I use stop loss but i check first the suggested percentage on when to use it. |
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I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
It could've gone either way as well you know. What if the priced didn't gi up and dumped before you werr able to sell? Getting out with 20% profit is already a sign of being patient. There's a difference between that and being greedy. Sometimes, patience is having the self cobtrol of not letting greed take hold. You didn't know what was going to happen but you got out with profit and that's as good as anybody in trading can have. |
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Meditating is good especially when you have no control over your mind base of the prediction and fake or good news that flow into the market. I think we are not going to follow those FOMO if we really want to succeed in our trading. You need to listen to gut to succeed in this market.
Meditation is a good solution for fighting your desires. It is a way to clear your mind and forget about the thoughts that bombardize your mind. In order to avoid FOMO I also don't read news in the websites that don't seem credible to me. The thing is, what causes fomo are news that does seem credible to a lot of people. But the longer you stay in the market i think the more you get matured. It's going to be hard to fight fomo when you'e new to the market and you're seeing a pump for the first time. Maturity will come naturally and eventually, fomo will not be that hard to resist. |
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I am interested in making money with cryptos in short term as well for that I choose crypto trading with the capital of $1000-$2000.(If I am getting my desired profits then I will do this with huge capital amount)
There are different kind of trading and different time frame to make profits as well right,I am looking for monthly basis profits with 10-20% profits for a cycle.So what kind of trading I have to do now
1.Day trading or short term trading?
2.Crypto to crypto or crypto to fiat trading?
Depends on your knowledge, if you think you can handle the stress of day trading then go for it but if not then go for long term trading. Both stocks and crypto is good but since you stay longer in this market then better to choose crypto trading, this is just my piece of advice. Great advice, the only one who can answer this is you because you know what you can do and what you can't do. Its hard for us to suggest do day trading not knowing that you don't know much about trading. You have a good capital to start, try to put some of that money to your knowledge and you can use it to attend seminars that can help you improve your trading skills. 10 to 20 percent a month is day trading can be a challenge since you're not sure if you're going to end the day in profit. Unless you get several days of good trades. Though it's really the experience that will make better in reading market conditions and movements so if you'e just starting to trade, take it all i first. The losses, the gains, don't focus yet on the outcome of 10 to 20 percent since when you become an experienced trader, it'll come to you. |
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If you want to purchase real estate in any country you also need to be accepted by that country after applying for a visa. I believe that you can always buy a home in any country because Bitcoin is a cross-border currency.
Right. Finding a home seller who accepts btc as payment is the easy part. The legal procedures of living in a different country should be what you're thinking about. You can't just fly to anywhere around the world and decide you're going to live there and buy properties. Esecially now where immigration securities are very strict. |
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I think there's also bitcoin garden but obviously here is where most people turn to when they want information about crypto. Btctalk is like bitcoin as all other forums are like alts. I haven't tried checking that much in other forums since i fairly get anything i need here.
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How would the crypto arena be different if everyone knew who Satoshi was?
I believe everything is going on as usual, but prolonged market adjustment processes make the whole dump make people think Satoshi has done this. You know that when you own too much Bitcoin, and you join in buying and selling, the market starts to fluctuate and you will be considered the reason for that. With bitcoin itself, i don't think there'll be much of a difference. I mean we all know that vitalik bugarin owns ether and that knowledge doesn't have any effect on eth at all. Having satoshi's identity exposed could mean he could be targeted by a lot of hackers and privacy thieves. It's got more effect on him than on the coin itself. |
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With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.
As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive?
No matter how hard, actions taken by the government, but their strength cannot defeat the power of their people, especially the world community. Therefore I assume, as long as bitcoin's still widely used by the wider community, it seems that the collapse of bitcoin's unlikely to be realized, I think this's what makes bitcoin still exist and can survive until now, IMO. I doubt. If the government makes bitcoin illegal, there surely will be repercussions when using it. And not many people would be willing to risk getting reprimanded over that. A collapse is highly possible. Though a strict crackdown is unlikely. Most governments don't see why such an innovation should be suppressed. |
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