As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.
If you already started, I can say continue, and for those people who still have not started to trade, start it now. On the other hand, continue to learn even if you already made some profits, learning in trading, especially in the tech world will not stop. And risk management is a must, even how much your portfolio or trading account balance, risk management is a must! |
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I can't agree with you here bud. I first off don't think that college educations are becoming way less important. At least in my line of work (finance) there is still a college degree requirement. This goes for a lot of my friends in their random places of work. A 529 plan has it's restrictions, or downfalls, but it's a lot less volatile (typically) than bitcoin is, so as an advisor I could not recommend someone replacing their 529 with a bitcoin investment. Too risky.
Exactly, this is a risky play even if you will invest your college fund in non bitcoin-related investments. All investment comes with a risk. So for me, if you afford to lose your college fund, then go invest it. Just don't risk anything that will make you suffer in the future. Just to remind you, Bitcoin is extremely volatile! |
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👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.
Among the list, this is the most common issue right now, especially for other people who are just starting and don't know some risks of this. You can also do this but it is much better to double-verify everything, like don't fully rely 100% on other people's opinions, just use them for some basis and research also on your own. |
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For me, I am planning to build a trading bot of course with some algorithm. Since I am a technical guy who has some knowledge of programming and at the same time I will be busier. I think building my own bot with an algorithm is a good thing to do, like adding some experience for my self and my career at the same time.
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In short, trading is not for everyone. Especially for those people who only want easy money and people who don't want to learn.
People must think that all successful traders right now have experiences, some are worst and some are good before all of they reached what they have right now.
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It's strange that so many people want death of bitcoin. I don't understand that haters
Well, it's their own opinion. Some people who are saying this are those people who missed the train. Some people are telling this to spread negative to Bitcoin hoping Bitcoin will dump and that's the time they will do their entry. So for me, this will continue even Bitcoin will reach further prices in the future, it will not stop. |
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So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.
This is a good initiative OP. Accepting Bitcoin as an alternative mode of payment is good, even though people will rarely use it as the field of your business is not really related to Bitcoin or your customers are not that familiar with Bitcoin, it's still good because Bitcoin will have free advertisement, it will help the community and the people. |
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Well, honestly, meme coins are okay to do trading activity to get profit in this industry. If you understand the movement in the crypto space, there is no problem, as long as you know and understand the ins and outs of the crypto space.
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I agree with this. Some meme-coins are created just to make money on newbies or new money. There are a lot of people who are riding with this together, so if you are lucky enough to do a ride-along, you can make good money also. For me, just don't marry these meme-coins, and don't forget to take profits. |
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I have been really comfortable with the price of Bitcoin in the past 4 years on Christmas day when Bitcoin price hasn't fallen below $10,000 anymore.
So for me, as you can see, it is building a huge price support here above $10,000. It's a really good price or indication that price of Bitcoin is really building and good for long term.
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Hi guys!
Just wanted to know how many cryptocurrencies you're invested in? And with what percentage of your portfolio (No need to mention the amounts involved, if you don't want to). Just want to get a general sense of how everyone's diversifying their crypto assets.
For me, I am following the majority which Bitcoin is the majority percentage on each portfolio, so for me, I also do that. Next is Ethereum is the second largest. After that, small allocations in new projects or old projects that are doing good in every bull run. |
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*be good at what you do, be valuable! So money can gravitate to you other than chasing money.
For me, as a trader, and if you want to be a great trader, you must adopt this because this will help you to make you not greedy while trading, like chasing losses, so this is a good step which we need to start from our own self then apply in in the real world. |
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What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?
For me, this year's December is different because of the Bitcoin block halving is next year. If you will also check the history prices of Bitcoin from the previous BItcoin block halvings, you will see that we can't see any bearish price actions on every month of December, months before the Bitcoin block halving. |
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First of all, don’t expect much returns if you are planning to invest in Bitcoins for short term. Bitcoins are for long term investment, if you have some money to invest and you won’t touch that for many years, then it’s perfect to invest in Bitcoins. Moreover Bitcoins doesn’t suddenly go up so high in few hours. Nevertheless if we think that this might happen, then definitely I will be overwhelmed by the profits, and will try to sell the coins which will cover my basic requirements of luxury.
True, because if we check the price history of Bitcoin and the bull run market, making good profits off the Bitcoin investment is not easy in the short term, it takes months, or years. For me, even we have few Bitcoin profits, as long it is profits and we already made profits, we must already appreciate it than investing it to some random altcoins and will make you losses. |
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Very risky for me, even BTT is cheap. I can say that it's still risky because the price is volatile and I can see that there's no huge use case for BTT right now, only for their torrent and take note this BTT is under with Tron network and we all know what's really going even before in Tron Network, a lot of issues.
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I am looking closely at the chain networks. Like Solana or any other layer-2 networks.
As you can see, Solana started to pump, and other Ethereum alternative platforms followed like Arbitrum. So for me, I am still looking forward on other networks, especially layer-2 networks.
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I will choose Matic. Matic is one of the OGs in the layer-2 networks. So for me, Matic has already built their reputation in the market especially in the Decentralized Finance (DeFi) world plus in Ethereum. For me, Polkadot is also good but the innovation or people using this are still few, in short, still early for them.
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For me, all good. I learned a lot of things this year, especially in the DeFi world. Next is in new projects such as new networks like layer-2 networks.
Next is I was able also to make some few bucks in some investment, where I find gem and I also learn a lesson of being not greedy and having plan always.
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There's a Defi platform called DefiLlama and they have this 1 page in their platform that lists all possible platform will give airdrops: https://defillama.com/airdropsBut be careful because not all listed their are controlled by them, and some could be fraud. Always verify and double check. |
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For me, these are also biased especially for some devs or teams behind retroactive airdrops, because they are the ones who will know it first, they are the ones for sure will take action first to qualify in airdrop for sure, and there will be still a lot of manipulations.
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(....)
I have engaged with a couple of them in trading conversations, and they beat around the bush, replying with generic responses without any real experience.
Has anyone else here noticed this too?"
This is very normal in social media, some are just pretending so other people will praise them. Some are just making predictions and speculations. Some also claim they are profitable but overall, they are not. Some are only flexing their winnings just to impress other people but they have a lot of losses. |
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