If a single indicator can make you profit from your trading every time you trigger a trade I don't see why you should complicate it by introducing more indicators. Simplicity is best at a situation like that.
That God that you put "if", meaning that those traders using multiple strategies are not fools, it might probably be that one strategy is not working for them. In this subject matter, I will always be neutral, it's good that we respect the choice of others and use what is good for us. But in my vast trading experience, I'd used a lot of trading approaches before I resolved into using combined strategies to increase signal strength and trend reliability. Mind you, there are many reasonable reasons people would combine strategies, and it's partly because different strategies serve different purposes. I've also not seen a professional trader who trades for a living that uses a single strategy, which is for a reason that can never be negative. Prove me wrong on that. This is the correct answer. If you have a single indicator that earns you money then yeah you shouldn't use anything else, but I have never seen anyone who uses just a single indicator all the time without a worry and keep on making a profit. We all know that it is not going to be easy and it is going to be a difficult job, it should not be a profitable thing to keep doing all the time and we should probably consider this a bit of a troublesome result if we want to just make sure it is doing alright. I hope that it gets to a point where it doesn't make too much sense to keep on using a single indicator, when the market changes then your aim should change as well and you should be making a lot more profit from it at the same time. indeed a professional trader they don't use just one strategy, but several strategies, but they also differentiate accounts for each strategy system that is executed. that way they can see which strategy can work well, or even they can analyze which strategy system is suitable for use in a given situation and condition. By doing research continuously, it will make them understand more about how to trade, which is a fun activity for them |
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need to learn more to do daily trading, because every day we analyze the market. with a smaller time frame, we will see more opportunities to enter the market, however, usually the targets achieved also have a short range. many people like day trading because they can collect profits little by little but continuously, so that if you add them up you will find a large percentage too. but not many succeed in doing so, because most of the traders either lose, or are unable to make consistent profits
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Divergence patterns are indeed a signal to make transactions, this can be shown on the indicators RSI (relative strength index) and MACD (Moving Average Convergence/Divergence). besides that the stochastic oscillator and EMA can also be used. usually the price will react when we find that signal. but not everything will end perfectly, because failed signals can also occur, therefore we must be able to anticipate when a signal doesn't work so that we don't suffer from deeper losses
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It's always going to be difficult to build a system where you can trade and make money easily, it is going to be a tough one without a doubt. I am not saying that it is going to be impossible, but no indicator, no steps, there is nothing that you can do in order to get a prediction that is precise all the time.
Indeed Because indeed trading crypto is something that is very difficult and complex. So it's just an imagination, especially for newbies if they think it's easy to get money from trading crypto. It's not easy to earn money but it's easier to lose money in this field hahaha That's why you really have to be really ready when you want to trade, be ready in various ways. Includes knowledge about trading, crypto, and various other knowledge as initial provisions. Then it is also required to have very good and wise emotional control so that we can anticipate various possible discomforts and emotions and panic at certain times. And various other things that affect trading, including how we analyze the market, especially in situations that change drastically. knowledge is not enough if we do not have experience. by carrying out experience, we will know exactly our weaknesses in the process of becoming a trader. and experience must be real trading, because there a psychology will be formed that many people often complain about, and blame themselves for. actually it's not stupid we can't trade well, but we have to be patient in the process, and everyone's level of mastery is different, that's what we should understand |
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in my country, the price of goods and services is skyrocketing and there's no sign of when it's going to be over.
It's same experience in almost every countries of the world there has been a constant increase in prices of goods and services mostly foodstuffs. And this inflation is more worsen in countries that are consumption-based- countries as they have to import more of whatever they need thereby spending 2x higher on commodities than what a person in a production/industrial country would. The worse part about this whole inflation crisis is that no one knows when it's going to end, that's if it will finally end.  I as an employee really feel it, where the price of goods rises so I have to be good at managing finances, therefore for now I'm looking for additional work to cover the daily economic shortfalls, besides that I also have to think about investing that is not affected by inflation. as the head of the family bears the burden for the welfare of family members despite the various obstacles currently being experienced, I don't think this will end if the government continues to maintain fiat |
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If I had enough money I would love to have a luxury watch collection but I would never prefer it over Bitcoin. Rich people mainly collect watches as a hobby and not necessarily as an investment that will generate them significant returns. A luxury item is not something that is really a necessity for anyone but there will always be a need for censorship resitant, decentralized money. Bitcoin being more accessible and having greater utility make it the better investment option.
Expensive watches can indeed be used as long-term investments, but to sell them we also have to be able to find people who are willing to pay for them. different from bitcoin where whenever we can enter the market to sell it. therefore I prefer to buy crypto according to my ability, because if you buy a mehaw watch you have to spend a lot of money first. but my boss because he doesn't understand crypto he prefers to buy luxury watches, and watches from 2000, currently 2x profit |
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If you are a full time bitcoiner, budgeting really depends on the market. Depending on bitcoin as the main source of income should track their budget because of the volatility of it. Set some limits, know how to control; maybe you earn big in one trading this day but tomorrow might give you another sad situation.
Usually full-time Bitcoiners don't just do one job like trading, because trading is a very common thing and can also be done by many other people whose profession is not Bitcoiner. Well, in this case if someone is a full-time Bitcoiner, of course he will do more work that can make him profitable (besides trading). For example, he can also learn how to mine, how to participate in campaigns and airdrops and how to enter competitions on several exchanges which are all part of the job he can explore as he has more time to do research. Meanwhile, Bitcoiners who work part-time only do not make the profession their main job, maybe they will rely more on using income from their main job rather than earning via Bitcoin. So they might be more likely to keep their income via Bitcoin for a long time because they can still live on income from their main job and this will certainly really help them to keep growing in any situation. That's why I think it would be much better if everyone has a different job in life even though the income level is also not the same. right, like me where work from bitcoin is not my main income, considering I don't trade every day and get consistent profits, but I do it more for airdrops, campaigns, and others. therefore I prefer investment from the coins that I hold, the rest I work real to meet my daily needs. and if it's a bull run, then I can have savings and allocate it to other investments and leave it to buy crypto assets when the bearish season comes |
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Totally agree with it. Most progressive country have a very good transportation system. Like our country before, in our history, we have the most advance train system that made us progressive but after the war started those train system was neglected and more roads build. Instead of developing it for more effecient way of travel (cheap and fast)
it's the same as in my country which is building fast trains, to reduce transportation time between the two regions. although there are many pros and cons, this can be felt for the long term, where the train is a means of transportation that is free of obstacles and can estimate time quickly. in the future this aims to lift the economy, and if successful I'm sure there will be more development for other areas considering the costs used are not small, but for the long term I think the train will be the main mode of transportation |
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i appreciate your decision although we don't like to put everything in one basket, but in Bitcoin investment i think it always correct,
because it's safe investment from so called altcoins, i lost big amount even in the top cryptos,
although Bitcoin will not give high profits in short time as like altcoin, while profit is low so also it's very low risk investment.
sometimes if we are talking about bitcoin ? that comment does not really exist . " Never Invest In single coin" or Dont put your egg in one basket" those are only given in Altcoin mate but if we are talking to bitcoin that always there for safeties and possible increase? then let OP have all His money in this valuable coin. that's right, op has done a good job of determining his investment. especially if he sells altcoins in a profitable position and buys bitcoins for investment security, that is the right thing to do in my opinion, for me there is no problem if you only invest in one coin, namely bitcoin, but this should not be done for altcoins. considering that the core of cryptocurrency is bitcoin, the crypto movement is based on bitcoin. so even if there is a crash, we are sure that bitcoin will be able to recover, it is different with altcoins |
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this is what I experienced, I am a dreamer and have the determination and do not have more capital to open a business. and of course bitcoin fluctuations become a means to achieve that. as long as we have knowledge about bitcoin and can distinguish when to sell and when to buy, we will be at maximum profit. on the other hand with knowledge especially if we can analyze new projects that will boom later, then the goals will be achieved more quickly, which is the part that everyone finds difficult
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I myself have never seen or known about whether there is already a comic about bitcoin, of course this is obviously very useful if it does exist, because it makes it easier for children to get to know more about bitcoin in outline, so when they want to know in real time , it will not be too difficult to follow. after all, it's not the time for children to be able to directly engage in all forms of bitcoin transactions, so comics can provide education. I think you can search for big online bookstores, maybe you can get what you want, because with the very rapid development of bitcoin, you can be sure that comics have also been made.
childhood is a period of introduction, and introduction through media that children really like, through comics, children will be interested, at least there is bitcoin with its symbol, with a light storyline, this can be the basis for children to recognize bitcoin, and in the future they will can develop it according to its age capacity and maturity and ability. a positive appreciation if there really is a comic about bitcoin, especially if it is manifested in a film, especially cartoons, of course it will give enthusiasm to watch it |
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Money is created to balance the barter system,but the people who had high demand commodities had planned and made their product price high.The price of Rice is high and the price for curry leaves is low.The reason behind this was the exactly the demand for the rice is very high and needed in high quantity.This made particular people of society to get rich as compared to others.By using the money,the rich people favour the scheme towards them by using their holding money.
for those who are in control of the economy, they will become rich, and in the end be able to monopolize certain fields, as is the case with the example you described, where by monopolizing rice they can control the distribution of rice in their territory, especially like in my country where rice is a basic need, which which is always needed every day. even though the government controls it, their presence can still affect the commodity, and strangely it is the rice farmers whose welfare is still below standard, even though they are the ones who grow it |
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We don't know what'll be the situation of us tomorrow. Food is something that is essential for our living, which means for what we earn? The very first thing is to survive and for the same food is a major thing. I've seen lot of people who had money little by little without eating good. End of the day, they spend a huge amount on medical bills. For this it is always good to understand when to eat and what to eat. Same time we should also know the limits on spending on food and where to spend, because for the same food we used to different amounts depending on the location and the comfort.
Correct. Food is basically a basic need that must be met at the earliest. because it concerns our life and health. even we will not be able to work optimally if we do not eat enough. and we have to maintain a healthy diet so that our bodies are always healthy and can generate more money that we can save and invest. Savings and investments can only be done if our basic needs have been met. that is, we must already have enough food stocks and so that we feel calm. so that when we make money again. then we save it to save and invest. True, however, they are all interrelated and complement each other, so it will be very influential if we do not meet food needs first, to be able to work optimally, of course it requires energy and we get this energy from nutritious food. especially for those who work by relying on their minds, of course nutritional intake must be considered, lest our brains be forced but nutritional intake neglected, on the other hand of course brain refreshment is also very much needed to cope with possible stress levels. in eating does not mean to be excessive, but we must be able to maintain the balance of nutrients needed by the body, of course a healthy diet is needed, to maintain physical and spiritual fitness |
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While growing up things were quite easy, an I also know that life was also easy for the common man, not until 2018 that things start changing for the worst, from then till now the rate at which inflation have struck my country to an all time high is so alarming.
Everyday price of things keeps on changing but the salaries of a civil servants still remain the same, the money that we use too feed from, buy water, pay rent, pay for light an even save from, now it can't even service our monthly needs for even half of the month.
Most times I feel for people that have many children because too get basic needs in today's economy is very difficult,
the annoying part is that the government an it agencies are doing nothing or less about the cost control of goods and services in the state.
An this has created a torn in the lives of many as situations keeps on getting worse by the day.
Am wondering if it's same experience in other part of the world.
i have a friend that he is in the same situation, his earning from civil servants is low more over he live in the capital of the country which means the price of basic needs is higher than price of needs in the local regency. So what he do is manage their financial such as control the expense and do the side job for more income. Like it or not, that's what has to be done because living in the capital city definitely has high necessities of life, it can not be avoided and probably the whole world is the same, the need to have more than one source of income that way seems to help. at least your friends already have a steady income every month. there are still many people who are under your friends in meeting their needs. therefore we must be able to survive in any condition by looking for additional income in order to make ends meet. and of course humans need not only to eat, let alone live in a big city, I think refereshing can also be a basic need considering the penantnya contents of the head because of daily activities, don't let us be economical but don't pay attention to ourselves, because if we get sick we will bear it ourselves |
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Do you have a morning routine as a day trader? I find
that whenever I follow my morning routine before trading, my focus is unbeatable in the charts and analysis. I usually wake up by 6am and start with cardio or just walk my dog. Next is a light breakfast. Eating light meals is essential because I won't feel very heavy and dull. And on some days, depending on how I feel, I skip breakfast totally for some homemade juice. I repeat my mantra several times ," today is already a great day." After which I go to my computer and start trading. On somedays I make good profits on some other days, I don't. Overall, my morning routine keeps me mentally prepared to face the day. Kindly share some of your morning routine before trading.
everyone has their own ritual before trading at the computer. and that's what indirectly shapes our personality, just like when trading where we have to be disciplined to carry out the strategy that has been planned. therefore we can take the point, that a good trading pattern will bring behavioral habits in our daily lives, for example we have to be patient waiting for prices to enter an area, that patience we will unconsciously carry over to real life when we have problems , and that's how I feel until now, it turns out that trading has had a positive impact on the development of my personality |
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A quick tip using this bear flag pattern is before you enter the trade, you must also consider the other timeframe because sometimes, it is bullish or bearish (it's not aligned on your current timeframe)
By doing this, you can decide a better entry, stop loss and take profit price.
that is true, sometimes it depends on the time frame that you are looking at. because the bear or bull season has no defined timeline, it depends on where you referenced your time frame to another one. and do remember, every project has their own timelines and so what do you call the bear and bull season. it is relative to the market they have. as much as possible, check the whole market performance of the project, so you know what kind of season you are entering with respect to their overall market. easily in my opinion by paying attention to the trend line that is happening, as shown in the picture, the trend line that is formed becomes a support defense area and if it is broken then it is likely that the price will run down, so we can look for areas to sell it especially if a correction occurs price. a technique like this is very logical to use, considering that the price reasonableness limit has been broken so that it will affect most traders to think the same way, namely to sell, you can realize that most people suggest following the direction of the trend that is happening, considering that at that time most traders had thoughts the same one |
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Since this thread isn't about trading basically but about bitcoin and how to succeed in it, then I will.advice that you move the thread to the bitcoin discussion board to give a broader show your thread to people who will have more interest and knowledge to share on this.
But nevertheless, you really made great points in your thread and I couldn't agree any less with you because you already said it all and my emphasis is on letting the past stay in the past especially the past losses because when this isn't left behind, there is always this mindset of wanting to revenge and chase after losses which we all know never ends well.
Basically psychology plays an important role to achieve success. If we experience a loss and must immediately repay the loss, it will make our minds confused, so that we cannot analyze properly and cannot determine attitudes properly, because emotions surround us. even though it is normal for everyone to happen, but as much as possible we must be able to control it and have a realistic view of the market that is happening at that time, so don't force our will and hope the market will follow our will |
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I saw something on a friend of mine iPhone I was amazed, this guy has 3 pieces of bitcoin but he didn't look it when you look at him with mere eyes, I ask him how he has come this far, he told long ego he was seriously investing on all kinds of coins with little amount of bitcoin but then most of those coins help him to realized enough amount to buy more bitcoin because that was his primary target. He normally buys those zero value coins when they appreciates it will be enough money, and that's how he convert and swag all to bitcoin and today, he has 3 piece. Is good to be diversified in your investment, somedays something good will come out of one you don't expect.
Good for your friend and by 3 pieces I believe you mean he already holds 3 bitcoin and that's amazing but no matter how promising a shitcoin or altcoin might be, I've always groomed myself never to get involved because they are basically scam projects because they mostly end as a pump and dump and it is always on rare cases where you will an altcoin doing well and ethereum is one of them. I guess your friend invested in shitcoin when most of the projects seemed legit and not now when every altcoin seems like a scam else he wouldn't have been here testifying this . even though he invests his funds in shitcoins or altcoins, I'm sure he is a smart person, considering he can collect 3 bitcoin pieces, and of course his main investment is in bitcoin, so even if he loses money on shitcoins it doesn't shake his finances, because it must have been calculated from the start . it's not easy to collect up to 3 bitcoin coins, and I don't think it's just luck factor, of course he has good knowledge and strategy |
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A friend suggested Bitcoin to me about 1 year ago. I have been trying to learn the history of Bitcoin ever since. How to earn from Bitcoin, I learned that investing will make profit or loss. Success can never be achieved without risk. Then I became interested in investing in Bitcoin. My family is a very poor family. I am studying now and earning BDT 7000 per month from tuition, BDT 3000 I spend on running my household. BDT 3000 is my monthly expenses and I save BDT 1000, I save around BDT 10000 in a year and invest in Bitcoin. I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025
But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.
Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.
I guess that it will be difficult for you to buy bitcoin even if you have money. Personally I won't take a risk on buying small amount of bitcoin if it is banned on my country unless the government is not actively seeking offenders and of course has an alternative way that you cannot be exposed on buying bitcoin or crypto. Buying bitcoin as a student is I believe a good move instead of putting it into banks, you should deep dive into learning how bitcoin economy works, I'm sure that you will be encourage more but don't rely on speculations that it will be a $100k in 2025. It's still a wild speculation but we never know when bull run arrives. To think is to act, obviously it's what the OP thinks about and it'll be difficult for him not to take the risks involved. This will facilitate his learning process and keep him atop of his peers or competitors in future. He sounds like a bright student and may have other strategies to backup his well thought out decision, if the government interfere in his bitcoin investment. The amount may not be seen as a barrier, he is far ahead of people who doesn't own a single sat. He invests on Bitcoin. And may experience the Bitcoin at 100k speculation even if it's not 2025. I agree with you that his decision at this stage is a creative one, if he is determinative on a different stage before he graduates. the main step in investing in bitcoin is to understand it so that you can invest comfortably, after understanding it, we can anticipate the possibilities that occur after saving bitcoins. especially for students who have bitcoins, they are not only part of technological developments, but can also be a guarantee of welfare for their future. whatever the money, of course it will be more useful in the future than keeping it in a bank, because inflation will continue to move, so that the value of fiat currency seems to decrease |
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Hey, OP, It should not be pointed out that some do not do it because they do not have capital , since eventually there are individuals who have the money and others do not, obvious, anyway, as with other assets, just because bitcoin can be 10x or higher doesn't mean you have to be showered with investments.
Therefore, the reasons for not investing can be several situations and among them the ones that are surely the most predominant is that they simply they don't like bitcoin, course they are very obvious answers but investments are decisions tied to many variables, that is not only invested for the simple fact of being bitcoin and those who hodl fall into that complex idea of decisions.
everyone has their own opinion, for those who don't like it, don't invest in bitcoin, mostly because it's not legal in their country, so it's a separate risk. On the other hand, there are those who prefer to buy and hold until the bull season comes, so they don't hold it too long. and for traders prefer the short term because it can provide profits repeatedly, and will mount for the long term. |
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