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Generally investment is a risky venture but it also depends on the kind of investment. The general view is that bitcoin investment is a good area because it has long time value. I think what is discouraged is when you decide to borrow money to invest. Therefore if a pensioner has his or her pension fund and instead of keeping it in the bank for a long time where it will not general interest, I think keeping it with bitcoin is preferred for me and these are some of my reason:
1. If the pensioner understand bitcoin technology by himself and not relying on third investment.
2. He or she has to be ready for a long time investment.
3. It must be money not meant for other financial need.
4. It must be your personal pension fund.
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I mean how could someone else build upon exact same strategy. I think their parameters might be different from the ones that I have shared. I don't know about their version but my version works well for Bitcoin. It will really be helpful if you try the strategy and share your feedback, I really appreciate your words.
It is good that you have made clear view that the strategy may not work for everyone and that is true. Changing default parameters of an indicator is not new and it is meant for traders to find a better ground for profit and the traders will continue to do that until certified on a particular measure that is working for their trading strategy and time frame. I commend your effort to open the eyes of traders on the changing of indicators parameters. |
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Can we use the same analysis on forex to appropriate our trading on bitcoin like the way gold and US dollar trades same signals.
Did bitcoin has trading signals and indictors different from forex or they're all same signals and indictors but different price movement from bitcoin?
It is different price move and also different analysis but indicators are the same, the strategy and idealogy also the same. However you should know the volatility is not the same. IMO I think bitcoin is very volatile. The volume is high for bitcoin . You can use the forex indicators to trade the bitcoin market but you also have to monitor the whale manipulation which makes the volatility spontaneous. |
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1. What will happen to alt coins when Bitcoin becomes a legal tender? Will they have a massive growth,or would people sell and jump into Bitcoin?
If bitcoin becomes legal tender of course the price of altcoins will increase. If you take into account in the history of the increase of bitcoin then you will see how altcoins too have appreciated. Talking about bitcoin being legally accepted by all the government that will increase the price of bitcoin and as such since the increase of bitcoin is also proportional to the price increase of altcoins, that will also happen. |
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4: How do you deal with market volatility and sudden price swings?
I'm going to say this should not be a problem to a crypto trader who is using stop loss strategy. It is very good to add such to trading strategy because it takes away fear of losing all out when the price swing against your position. So this is an advise also to the newbie and it cut across most of the questions you have asked. No matter how good your strategy is, it is risky to trade without stop loss. |
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It is better not to choose those and stick to Bitcoin. Check the history, you will know.
I think it is better for people who have doubt on certain projects to stick with bitcoin because the history of bitcoin is there open to the public and the information contained on the past records are not hidden. They say the devil that you know is better than the angel that you don't know. This is very important to avoid being scammed by projects only out to get investors money with no value and soon disappear out of the circle of cryptocurrency. |
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I don't think that will happen that we woke up and not find bitcoin anywhere. Some bitcoin have been lost or locked out in some unknown wallet but that will not cause all bitcoin to be lost. Most bitcoin that were lost happened in the past when the knowledge of how to own and handle the coins stored in the wallet were very minimal, then some hodlers of bitcoin barely understand wallet phrase, keys or password but the story is changing now and more people are securing their coins, so I don't easily know how bitcoin can varnish.
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Is that 4,000 bitcoin or 4,000 dollar worth of bitcoin? Well whatever value of bitcoin it is, my advise to you is to hodl your worth of bitcoin because you are seeking a specified amount of profit and that is not certain in crypto trading. The certain phenomenon in crypto is that it value fluctuate and that is also how your profit margin can fluctuate and not remain stagnant. Or you can convert your bitcoin to fiat and loan it out on a particular fixed interest by the month end.
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5.When the market volatility is high,the market flow will be maximum.You can get profit at any point of the market flow.If you are ready to hold for the longer period,the profit would be maximum then you had expected from your investment.
This is the expectation of every experienced hodler of crypto coins but unfortunately not all understand that. The challenge however is not knowing when that volatility will come and that is why at the little drop some people will panic and sell. The market could be manipulated some how for weaker hands to run out and that is exactly what happens sometimes with the price. |
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Unfortunately you have to wait until you increase in rank before you are able to upload images on the forum. I understand you want to upload some of what trade you have picked plus the success rate and losses. Meanwhile I thought you wanted to talk about derivative strictly but you are yet to do that, only FX and cryptocurrency.
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I'm not a fan of crowdfunding after the scam associated with icos back in 2017. Icos used that to defraud people off their money and since then I have not seen it as a good source of investment. Moreover, this company as claimed to be around since 2013 should have covered many grounds but it seem not to have done that and not popular as many other brokerages and exchange. Binance is still new but have done alot as an example.
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Manipulators may not need indicators or drawing of lines, what they simply do is to work on the psyche of public and people hodling the project. They organise people to their telegram or other social media and they throw in fake news there which can make people decision to invest but unfortunately they will lose because the handlers will cash out first as soon as they begin to notice surge in price.
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Apart from choosing a secured wallet, starting small is a very good advise and op has done justice to that. Most newbies have the character of wanting to go in all out for the big fish but not understanding the rudiments of investment. If you start small, you have the advantage to have fund to stay longer and monitor the market but taking it with big strides then you are likely to be watching the market from outside. Staying inside to see how your emotions can play on you is such an experience.
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First I will advise not to focus on price while investing in cryptocurrency. Another advise is to always consider bitcoin and Ethereum while investing and the reason is bitcoin is very important in the life of cryptocurrency and Ethereum is very important in the life of altcoins. You can invest whatever amount you want in Satoshi for bitcoin and units of Ethereum. And another advise is if you want to invest in altcoins, dogecoin and Litecoin looks good, they are both used in gambling casinos which means they will be relevant for a long time unlike other altcoins that have not been recognized in crypto investment.
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If you accumulate more knowledge be it in technical form or theoretical form, it’s no harm to a person. I mean extra knowledge is never harmful for any human in any way. I am not saying that technical analysis is not required , but without it, a person can trade also. All you need to know is basic knowledge of the coins, it’s history and at what particular time or event it’s price increases or decreases. If a person has basic knowledge on this, then definitely he can do good and profitable trades. Technical analysis help in many perspective, but it’s not always necessary.
You are right to remind that technical analysis is not all to trade but that having the knowledge is helpful and it is going to be an advantage or edge that you may need in the trade. However, regards to knowing the time that coins increase or decrease, I think probably you are referring to bitcoin because of halving that happens every four years and the expectation of a rise comes after each halving, but other coins don't have such specific or expectation like that but to rely on bitcoin bull and sometimes they don't perform as such even with bitcoin bull. The technology of some projects doesn't also become what to look at. Pump and dump coins don't rely on technical analysis or any indicator but your ability to read what is happening. Therefore apart from bitcoin, we can't conclude expectation of increase or decrease of a coin. |
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Trading is never a seasonal game and it doesn’t do any favouring thing to anyone out there.
The seasonal nature of trading could be in terms of bull or bear, also during trend. So if a trader is considering season on trade based on these waves, it might be understandable. If you are losing or profiting in any of the waves you can consider it as either bull or bear season. In addition to all of the above, crypto market is most active market in entire economic circle. It’s running 24x7 and someone is always there to buy or sell. Definitely not seasonal.
Crypto market is not the only most active market and not only running 24x7. Derivative and binary is also open 24 hours all days with some volatile pairs that you can profit from or lose all your capital. |
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- Trade with Cautiousness and avoid those coins where the community is based on Telegram or discord
Unfortunately I think all other points you listed would have happened already. Except for review on them (that is if they still exist after scamming investors). Usually when scammers get on their prey, they disappear from the scene. That is what I have noticed and that is why it is better to trade with caution. Apart from bitcoin or Ethereum , be careful with any other cryptocurrency and invest as you can bear. Back in 2017 to this time, it has been happening, becareful. |
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If you have satisfactory returns then you should cash out but if you are becoming too greedy then many examples are there where it was termed as bad trade.So always trade with different strategies and market judgement and taking firm decisions will help you keeping your greed aside.
Although satisfactory return is relative and that makes it difficult for some people to cash out on time and that makes them emotional not to jump out when they are suppose to. I believe having different strategies is likely to confuse a trader in the decision that will help them cash out on time before they regret. To stick to a particular strategy that is working is convincing to me on being discerning and decisive. Most times confusion cause lack of proper decision taking. |
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In simpliest form: the support zone is basically where the buyer resides and it is when the demand is increasing in the market. What do I mean by that? When the price hit the support zone, the probability of the price to bounce or to go up is really high because this is the area of the buyers. The psychology of the buyers will drastically change because they know that the price is cheap when it hit the support level. But don't get me wrong because trading is probability game so there are no sure that the price may bounce if it hit support. You should also be aware that the price is usually moving between support and resistance. The resistance is when the seller resides, it is where the supply increases. For sellers, they think that the price is now expensive and they think that it will now go down so they are selling in resistance level. Identifying support and resistance is hard when you are a beginner and it will take days or weeks for you to master plotting support and resistance levels but once you master it, you will immediately see a lot of opportunities in the market. One of the ways in order to make money in the market is by buying at the support level and selling at te resistance level. This strategy calls swin trading and you can easily make money by using the volatility of the market as you advantage.
On the contrary, I don't agree to some of your allusion concerning what is being discussed as it relates to trading. I think if we are discussing support or resistant zone or level based on demand and supply, I think we are going to miss the point. Support simply means a point where there is traders taking decision to either enter or exit the market likewise for resistance level and so those areas are delicate to deal with because if you get it wrong, we may lose alot of money before reversion. For newbie understanding, it is to be taken this way. Sometimes support levels can be broken easily, may not be broken and causing a reversal which is when you see a long spiking candle. There are different levels for support based on daily trader, scalper or swing trader and to look for support or resistant areas, the pivot calculator can help. |
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Op you need to read more on support or support zone, is the same thing and whatever you understand from it or the clarity you have can be interpreted on the reverse for resistant or resistant zone. For support zone, there are basic things we should understand about support and they are: 1. Support is when price is dropping or you can talk of support zone when price is dropping or you can look for support zone when price is dropping. Resistance is opposite. 2. Support zone when finally broken turns to resistance zone because it now comes above price area. 3. Support zone when broken confirms selling trend based on your time frame. 4. Support zone for every trader may not be the same but trend is the same. 5. Support zone may not be broken down in days, weeks or months depending. 6. Support zone are very good spots for entry or taking profit. 7. Experienced or professional traders look out for support or resistant zones to enter or exit. In fact, they are happy when they are able to identify it and if the candlesticks correspond with other indicators based on their trading strategy, they go for the big kill.  |
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