What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.
To convert bitcoin to fiat like selling it directly to a merchant or someone who needs it will be expensive in fees because it can take you as high as $3-5 depending on the time so if you have it on exchange, you can convert it to usdt and then sell to fiat with a fee of $1. However there are variants of stable coins that you can do that on if not usdt , example you can convert to BnB smart chain bep20, you can convert through polygon, through solana, avex chain, EOS, Tezos, Ethereum erc20 etc For me, converting BTC to Fiat is more expensive on the Binance exchange and it is no longer functional for my country residents who use the exchange since the government has done well to investigate the exchange and others who have customers in the country and have restricted many of these exchanges services by removing the local fiat from the exchange. A stable coins like the USDT is a more preferred option for me and I have to accept the fees rate upon converting from BTC to USDT and then trading P2p to get my funds in local currency. Yes I had already stated it that it is expensive to sell bitcoin directly to fiat because of the high fees and this is the reason that many have turned to stable coins for transaction because they are sure that they are only parting with a dollar to cover for the transaction fee unlike using the bitcoin route that will take you more dollars. Moreover exchanges like binance charge very high in bitcoin transaction and so to take away P2P for a local currency means either you have to convert to usdt and sell out of binance platform if you are having your coin there but I hope there are other exchanges that still transacting on P2P. |
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I have not been lucky to win the unregular odds anyway. I think I will try increasing the risk for odds because you can't win big like that if you don't aim and bet on those high odds. There have been some high odds that I predicted to win and it finally happened that way but it was just a prediction without betting on it.  |
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When BTC is up all other coin move up. So why spending time on doing technical analysis on alts when doing it on BTC gives you a potential clue of most assets price direction?
This is not always the case. Sometimes the upward movement of bitcoin doesn't measure up with the same percentage for other altcoins and I don't see that as something that I should always depend on because not all altcoins will obey that move especially if the coin is a new project and has not gotten that kind of popularity that is expected. But top coins like BnB or Ethereum usually follow same move made by bitcoin. But to do a TA on low level altcoins might be confusing because they are easily manipulated and that will go against analysis made on it. So it is better to follow sentiment on it. |
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What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.
To convert bitcoin to fiat like selling it directly to a merchant or someone who needs it will be expensive in fees because it can take you as high as $3-5 depending on the time so if you have it on exchange, you can convert it to usdt and then sell to fiat with a fee of $1. However there are variants of stable coins that you can do that on if not usdt , example you can convert to BnB smart chain bep20, you can convert through polygon, through solana, avex chain, EOS, Tezos, Ethereum erc20 etc |
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I assume for responsible gamblers, having children could cause them to gamble less because they can’t afford to gamble like they used to. It all depends on personal circumstances though, if you earn a lot you may be able to continue gambling as you did previously.
The whole of the discussion is on the financial capacity of the gambler I think with your angle too because at the end of the day it is about the money that is used in gambling. If a gambler who has got some financial capacity, he can continue in his gambling habit whether the man is married or not. There are married men who buy two cars at same time while others can't afford one and at same time he maintains the two and changes into new cars if he wish. So likewise in gambling, it depends on the financial capacity of the husband that is what matters.
Degenerate gamblers who have a problem might not be able to change habits despite having more responsibilities with a dependent.
Those are categories of gambling addicts who have lost touch of their mental capacity |
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If the plan could be holding as it’s mainly advocated and most of the precedents to this time continues to do, gains are not far behind. Thought it might dump, it would rise as it’s evident in its history and what better time to not wait but buy before the halving.
With the ETF things might change this time around. Although some hodlers are already taking their profit and price is starting to drop but halving is just around the corner, so this drop may not last before we see another bull run that could be sustained till the end of this year leading to 2025. The history of bitcoin from beginning has been rise and fall so that shouldn't create any fear until the halving bull comes and that is the season we are, not many hodlers are selling because of the expectation of halving. |
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We have 1x Sr Member slot open.
Rank- Senior member Segwit BTC address: bc1qk77nng4asnsvc4mk4p9nvwr0uev27slcrdqytk |
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Many traders don’t know the after effects of over thinking worrying fear in their trading situations and decisions making, I just want to drop this as message to everyone that is always worried and scared of losing during trading, you may not really know the after effect of panic and anxiety of losing your trades,each time you think and get worried it results to heart condition that increase gradually.
There is no need for such panic. A trader should always advise himself of the need to use SL and TP in his trade especially SL because when you set your stop loss it means you have set out some amount of money you want to lose in that particular trade and you are already certain of that and already removed your mind from it because you have also taken it away from your balance. This is the best way to avoid the losing panic that is capable of increasing someone's blood pressure. But a trader is not suppose to have such pressure if he is not taking too much risk on his trade. Trading with caution is wiser than trading with sympathy. |
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While testing some pinescript code yesterday using a basic strategy for testing purposes of entering trades when a green candle appears after a red one I also got a win rate of 50%. So I cant seem to beat a coin toss.
I don't really understand what you are about to say but in whatever you do you have to stick with whatever works for you. You don't have to leave your working strategy to seek for advise from another person. If you got a win rate of 50% from your new strategy then you have to build more on it to stabilize your growth and add more profit in your trading experience. So I wish you luck in your strategy. |
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What do they do as a hobby that keeps them focused on their task?
Do they see movies while trading and waiting for an outcome or do something else during the time?
I would appreciate the comments from active traders more because it would give a proper insight on how it would look like if I finally make my way into the trading or the investing world and just need to keep focus.
That depends on the type of traders in the picture because we have different types of trader and they all have different ways that they trade or watch the market. There is day trader, swap trader and swing trader. The way they will check on the market will be different, a swap trader who is a fast type of trader on the short time won't have time for all the rest or luxury during trade. A daily trader may probably have some time depending on the time frame he is looking at and a swinger definitely has alot of time to catch fun. Basically, a daily trader and swing trader have more of time to have the fun they want in between their trading time or journey. So they may go out with friends, family or get busy with other jobs because as a trader you can also have other businesses and jobs. |
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Does the number of traders directly affect the volatility of the market?
I will not think so that numbers of traders will cause a volatility in the market. Volatility is caused by increase in trade, if you have plenty traders who don't add to trade so it won't create that increase inflow. A trader who is just in the market and not trading create no influence or vibes in the market therefore there won't be that increase volatility. What create volatility is not numbers of traders but the volume of trade. Example if you have a trader who throws in 2 billion dollars to buying bitcoin , that will further increase the volatility because big funds has entered the market. What create volatility is huge cash inflow and not the number of traders. That huge cash inflow can however be generated by few traders or more traders.
If it does, can we assume that trading was easier before with less traders (less volatility) than now when there are more traders, and the market more volatile?
Numbers of traders doesn't make trading easy or not. It can only affect market cap. If a coin has a large marketcap then it doesn't crease easy volatility especially if the coin doesn't have high utility like bitcoin. Therefore, it is easier trading bitcoin than other coins despite marketcap because of bitcoin dominance and trend of movement. If a trader spot the trend like we are now on bull, it becomes easier to trade on bitcoin. |
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It is not everyone that likes to trade bitcoin while others like to hodl only. Hodling doesn't cost anything only just to keep the coin in your wallet and I believe that is why most prefer hodling it. There is something about hodling that is to be considered because you can't just hodl without looking at potential volatility or bull except for those whose hodling is not for the purpose of instant profit, so hodling for profit is done around halving season for those who are serious minded for profit. Trading is risking and not done by everyone.
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A successful doesn't just have a good market judgment but also has a good healthy practice. And over-trading is not a practice by them, it is just for those who are chasing their losses thinking that it could help to recover but not knowing this could also be the reason for incurring more losses.
I have noticed that over trading is the main characteristics of newbie traders and that is because of anxiety, greed, lack of self discipline. These factors will make such a trader to lose his emotion to control his trade. In fact, a new trader barely understand what is happening in the market and only what to chase every candlesticks like his mentor has mentioned candlesticks to him. Successful traders are those who have lost their money over the years and probably learn their mistake that they make and now get better with such experience. I believe a trader who is new and making profit is not yet successful until you have been experienced because at the time the profit is coming, it may be you are on the right trend but if the trend change, that comes the real trade challenge. Patience is important to be a successful trader. |
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Don't follow every trader you see on social media because many are only living fine from the subscription they receive from followers. It is difficult to know a trader who is consistent in profit except they show prove to you but not many traders make profit, that is certain. As far trading is concerned, we should try to learn and be contented with the one we are able to do because there are different hype on trading profit and alot are fake.
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They just can't wait for the market to come to them, they always chase the market and when they finally blown their account, they start saying trading is a scam or it's gambling, no bro, trading Is more about knowing the craft and be disciplined enough to wait till the market comes to you (your strength).
Patience is a good virtue for trading. If you wait for trade to come to you, it is clearer to go for the profit and you can take higher risk and tighten your stop loss as all time frame will be in agreement for a right order execution.
Me I dont trade if the market doesn't come to me, if I don't sees the right setup I don't trade at all, even if it takes a month without trading, it's better for me to wait and be profitable than to lose my capital, stay discipline and be profitable.
I think that has made some day traders to prefer to trade as swingers because swing trade gives you a long time and space to monitor the progress, situation and emotions/sentiment before you dive in. A longtime analysis space is one advantage of swing trading but however no strategy is far better than the other because they don't have guarantee, if you do a wrong analysis on any of the trading strategy then you can lose the trade. |
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This guy is giving me a weird vibe, like a different gambling breed, he knows he have the gambling addiction problem but he just doesn't care, like for real, he doesn't care, the amount he has lost is in six figures but very weird how he is able to handle it.
It is just the addiction that makes it look like they don't care because they do but it doesn't show for the time they are doing the gambling and using huge amount but at the end in their closest they express regret. They can continue the wasting of resources but when the source they get the money from is off then they will realize that they have actually wasted a whole lot. This happens a lot when you see old gamblers who when they tell you their story, you will understand what is happening to those who lose hugely and won't take a break. They fight with addiction and not that they don't like to stop and they are still getting more source of money to continue gambling in waste without winning. He cares to stop but needs help. |
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The much of bitcoin bull prediction now is risky even though the price increase is gradually gaining ground but it is better seen after halving. To rely on what is happening with price now to predict an increase will be hasty because anything can nevertheless happen before the eventual bull. To predict the bull however, the bull pin bar candlesticks is more directional especially if spotted in a longtime hour like from 4hrs above.
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There is not a single gambler who has never experienced losses, losses is something that is bound to happen. The size of the loss depends on how big a deposit we make and whether we like to chase losses or not. I never deposit much so usually I will spend around $50 in one session, if I get emotional sometimes I will chase my losses and deposit another $50. If I have made two deposits and still lose then I will stop and gamble again next week
The size of our losses in gambling is not depending on how big we have deposited or how much that we have in the balance but how much that we bankroll. If you take higher risk in your stake that also will reflect on either how much you will lose or how much to gain. Maybe that is also what you mean by deposit but it is really about how much we stake out from the deposit that we have. To also chase back losses is going to get you more losses than you will profit because you have lost the emotion of proper thinking of what to bet and you randomly stake a bet and the chance of hitting luck is small. Betting responsibly is a rational way to reduce lose. |
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KYC really is not the true spirit of cryptocurrency and playing in a casino asking you for KYC identification is same as asking for your name, location and total identification that you can be trapped or traced which doesn't represent decentralisation system. Those who won't like that follow the real purpose. The purpose now is changing with the casinos that ask for identification because of regulation.
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