Bitcoin Forum
June 23, 2024, 06:07:02 AM *
News: Voting for pizza day contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Bitcoin Discussion / Re: Did we get what we asked for - less Bitcoin volatility? on: October 09, 2018, 08:03:46 AM
Do you remember the times when Bitcoin prices were all over the place and price swings of $300 to $500 in any direction was

normal.  Roll Eyes  Well, back then, everyone were moaning and complaining about the high volatility and how this negatively

impacted the merchants and using Bitcoin as a payment option.

How things have changed in a matter of 1 to 2 years is astonishing, because now people are complaining about the lack of

volatility and how boring Bitcoin has become.  Roll Eyes


Do we know what we want or are we divided in our goals, since more speculators have entered the Bitcoin scene in 2017.  Huh

Let's discuss.  Wink

There are 2 types of people in the Bitcoin circle voicing out at 2 very different times. When the price of Bitcoin was volatile, traders are profiting off this and kept quiet while merchants who are looking to adopt Bitcoin as a means of transaction are skeptical and had to voice out. Now that Bitcoin is at a stable point in time the tables have turned  Grin  Tongue
2  Economy / Trading Discussion / When to trade altcoins? on: October 09, 2018, 07:39:36 AM
Hello everyone. So recently I've been trading bitcoin for alt coins as I find that alt coins are far more volatile due to lower volume compared to Bitcoin and thus more profitable when it comes to day trading. Any great alt coins I should be looking into for trading? I'd like to hear your opinion on this method of trading!
3  Economy / Trading Discussion / Re: Should I stop trading in this bear market? on: October 09, 2018, 07:28:44 AM
Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?

Bitcoin and ETH are currently in the bear market however alt coins can far more volatile. What I do is trade bitcoin for alt coins as alt coins tend to be far more volatile due to lower volume compared to bitcoin and ETH. From this you can profit at a greater rate from the highs and lows of alt coins.
4  Economy / Trading Discussion / Re: Will you trade Bitcoin to buy Altcoins? on: October 09, 2018, 07:00:34 AM
I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

Couldn't have said it better my friend. I too am currently trading Bitcoin for alt coins. Volume of alt coins are not as high as bitcoin which makes them far more volatile and allows me to profit from the highs and lows. When I sell altcoins at a higher price I receive bitcoin and keep it as bitcoin in belief that bitcoin will surge in price at some point.
5  Economy / Trading Discussion / Re: Books or youtube to learn how to trade on: October 09, 2018, 06:31:16 AM
Hello guys,

I am french and i wanna try to learn trading in English language (to get skills in english and trading ahah)
Do you have a recommandation for a good book ?

I wanna try to find a good youtuber to, who is explain how to detect signal. In crypto or in nasdaq.

And maybe if its exist, a website with exercise?

Thanks guys

Have a read at this article. It's trading crypto in a nutshell. All the important points, but it may take a while to fully absorb. https://medium.com/@CarpeNoctom/toshimokus-trading-tips-tricks-f0ff5cc38cc8 Best of luck!
6  Economy / Trading Discussion / Re: What are common mistakes and problems of the traders? on: October 09, 2018, 06:18:07 AM
Hello traders!


I am new here in this forum I don't have more knowledge about tradings, but I think maybe someday if I will given a chance to do trading I think I should try it. So I always read articles about tradings and also I read threads here in our forum about trading discussion. However I would like to ask all traders here that have more experiences about trading if what was the common problems that encountered of an ordinary traders?  And what was the common mistakes had you ever experienced and how could you manage this problem and mistakes? 


Can you share your thoughts and experiences about tradings.



Thank you in advance.

You should try it! Why hesitate, at least just put in something small like a $100 worth into an exchange and start getting used to trading in the crypto markets. You should look to earn big first, so instead of calculating profits in actual amounts, use percentages. This way when you've tracked your profit records in percentages, you will feel more comfortable to inject more money in as you notice which strategies have a higher chance of turning a profit and which do no. A common mistake is to panic sell and not setting up a stop loss. Just be patient and do not trade with your emotions!
7  Economy / Trading Discussion / Re: 20 Rules Followed by Professional Traders on: October 09, 2018, 03:22:56 AM
Booking reliable profits in the financial markets is harder than it looks at first glance. In fact, it’s estimated that more than 80 percent of all participants eventually wash out and take up safer hobbies. But the brokerage industry rarely publishes client failure rates, since they're concerned the truth might scare off new accounts, so the washout rate could be much higher.

Long-term profitability requires two interrelated skill sets. First, we need strategies that make more money than they lose. Second, those strategies must perform well while the market shapeshifts through bull and bear impulses, with plenty of choppy periods in between. While many traders know how to make money in specific market conditions, like a strong uptrend, they fail in the long run because their strategies don't adapt to inevitable changes.

So can you break away from the pack and join the professional minority with an approach that raises your odds for long-term prosperity? Start with a clear and concise plan.

Now, internalize these 20 rules that long-time pros use to stay in the winner’s circle.

Follow Your Discipline
Discipline can’t be taught in a seminar or found in expensive trading software. Traders spend thousands of dollars trying to compensate for their lack of self-control but few realize that a long look in the mirror accomplishes the same task at a much cheaper price!

Lose the Crowd
Long-term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that’s where predatory strategies target. Stay away from stock boards and chat rooms. This is serious business and everyone in those places has an ulterior motive.

Engage Your Trading Plan
Update your trading plan weekly or monthly to include new ideas and eliminate bad ones. Go back and read the plan whenever you fall in a hole and are looking for a way to get out.

Don’t Cut Corners
Your competition spends hundreds of hours perfecting strategies and you’re in for a rude awakening if you expect to throw a few darts and walk away with a profit. It’s even worse if you cut corners in the rest of your life because that bad habit is much tougher to break.

Avoid the Obvious
Profit rarely follows the majority. When you see a perfect trade setup, it’s likely that everyone else sees it as well, planting you in the crowd and setting you up for failure.

Don’t Break Your Rules
You create trading rules to get you out of trouble when positions go badly. If you don’t allow them to do their job, you’ve lost your discipline and opened the door to even greater losses.

Avoid Market Gurus
It’s your money at stake, not theirs. Keep in mind that they're probably talking up their positions, hoping the excited chatter will increase their profits, not yours.

Listen to Your Intuition
Trading uses the mathematical and artistic sides of your brain so you need to cultivate both to succeed in the long run. Once you're comfortable with math, you can enhance results with meditation, a few yoga postures or a quiet walk in the park.

Don’t Believe in a Company or a Product
If you're too in love with your trading vehicle, you give way to flawed decision-making. It’s your job to capitalize on inefficiency, making money while everyone else is leaning the wrong way.

Get Your Personal Life in Order
Whatever is wrong in your life will eventually carry over into your trading performance. This is especially dangerous if you haven’t made peace with money, wealth and the magnetic polarity of abundance and scarcity.

Don’t Try to Get Even
Drawdowns are a natural part of the trader’s life cycle. Accept them gracefully and stick to the time-tested strategies you know will eventually get your performance back on track.

Pay Attention to Early Warning Signs
Big losses rarely occur without multiple technical warnings. Traders routinely ignore those signals and allow hope to replace thoughtful discipline, setting themselves up for pain.

Don’t Confuse Execution With Opportunity
Traders make up for insufficient skills with expensive software, prepackaged with all sorts of proprietary buy and sell signals. These tools interfere with valuable experience because you think the software is smarter than you are.

Play With Your Head, Not Over It
It’s natural for traders to emulate their financial heroes but it’s also a perfect way to lose money. Learn what you can from others, then back off and establish your own market identity, based on your unique skills and risk tolerance.

Forget About the Holy Grail
Losing traders fantasize about the secret formula that will magically improve their results. In reality, there are no secrets because the road to success always passes through careful choice, effective risk management, and skilled profit taking.

Ditch the Paycheck Mentality
We’re taught to grind through the work week and then pick up our paychecks. This pay-for-effort reward mentality conflicts with the natural flow of trading wins and losses during the course of a year. In fact, statistics indicate that most annual profits are booked on just a handful of days the market is open for business.

Don’t Count Your Chickens
Feel good about a trade that’s going your way but the money isn’t yours until you close out. Lock in what you can as early as you can, with trailing stops or partial profits, so hidden hands cant pickpocket your success at the last minute.

Embrace Simplicity
Focus on price action, understanding that everything else is secondary. Go ahead and build complex technical indicators but keep in mind their primary function is to confirm or refute what your trained eye already sees.

Make Peace With Losses
Trading is one of the few professions where losing money every day is a natural path to success. Every trading loss comes with an important market lesson if you’re open to the message.

Beware of Secondary Reinforcement
Active trading releases adrenaline and endorphins. These chemicals can produce feelings of euphoria even when you’re losing money. In turn, this encourages addictive personalities to take bad positions, just to get the rush.

The Bottom Line
The vast majority of traders fail to tap their full potential, eventually cashing in their chips and finding more traditional ways to make money. Become a proud member of the professional minority by following classic rules designed to keep a razor-sharp focus on profitability.


All of these rules seem to me pretty useful so I have shared them with you. By the way most of all I liked the rule about avoiding the obvious.
The original article is available at https://www.investopedia.com/articles/active-trading/022715/20-rules-followed-professional-traders.asp



Nicely put my friend. I truly believe in getting your personal life in order when trading as the worst thing someone can do is perform emotional trading, which is far from sustainable if you plan to trade to support your living.
8  Economy / Trading Discussion / Re: Day trade on: October 08, 2018, 08:49:35 AM
Has anyone found volatility in altcoins? I see the market very still and difficult to find opportunities for quick profits.
Which exchange do you use for this type of trade?

I personally tend to trade alt coins with at least 400btc in Volume using the BInance exchange. Highs and low are prominent at this range in volume I find if i'm trading at the 30min mark.
9  Economy / Trading Discussion / Re: What amount did you start to trade? on: October 08, 2018, 08:13:23 AM
I start off with $100. Gained 5% on my first day of trading and got a little cocky I put 100% into a single coin and panic sold losing 20% of my initial investment. I've since put in another $100 and have been seeing a steady 3-5% weekly gain over 3 months. Small but profit is profit. I'm now looking to increase my capital to $5000. However, I still do have some bad trading days when I let my emotions get the best of me.
10  Economy / Trading Discussion / Trading advice for new crypto traders! on: October 08, 2018, 03:06:27 AM
I've seen people around me invest thousands of dollar into cryptocurrency trading and end up losing a big chunk of it in a matter of weeks. My advice is, if you are entering a market fresh and haven't done much due diligence you should just put in a $100 to trade with and get used to the market. You can dedicate half a year in getting a feel for the crypto market and measure profits in the form of percentages instead of actual amount. For example, if you've grown that $100 you initially invest in to $110, count your profits as %10 instead of $10. By the end of 6 months when you're proficient in crypto trading and have gained steady percentages week after week. At this point, risk of investing thousands of surplus cash into crypto trading is mitigated as you've already developed a systematic trading strategy and become less vulnerable to FOMO buying and panic selling. Just make sure you have sufficient liquid cash to pay for your own daily living expenses after investing in the crypto markets.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!