Your advice is very good, and my opinion is the same, and now I am starting to feel confident and excited because there are so many people who have encouraged me in this forum, including you.
I am 10 years older than you, but I have never had such a question that interests you at the moment. You should understand that your investments can serve your children and grandchildren and it is possible that this will be the most profitable inheritance. The main thing is that you leave your relatives a private key so that they can use the cryptocurrency you left, in case the worst happens to you. |
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let me know your opinion folks is too old  It depends on whether you were able to earn stable money in real life by the age of 28 or you are trying to solve your financial problems by investing in cryptocurrency. If you have enough money and investing will not negatively affect the financial condition of your family, you can safely buy cryptocurrency, having previously studied the basics of investing. |
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Such a short period of time cannot give an objective picture of your trading. And your resulting profit during this time can eventually be liquidated along with the deposit with just one unsuccessful deal if you do not adhere to risk management. Therefore, it would be best for you to start not with practice, but with theory.
i totally agree , and that's the point of my post : where should i "start" , i ve already learned / read some articles there and there but the path is not straight do i have to explore more about strategy ? which one if we see those trades i ve made i do not intend to be "simplify" the way but have a more clearer vision of the path to follow To trade, you will need a larger deposit than the one you have now. Since the existing deposit size can be liquidated after several unsuccessful deals. In addition, on most exchanges, the minimum size for opening an order is assigned, which in most cases is 10 dollars. In my opinion, even $100 will not be enough to start trading. |
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...started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading ..
Such a short period of time cannot give an objective picture of your trading. And your resulting profit during this time can eventually be liquidated along with the deposit with just one unsuccessful deal if you do not adhere to risk management. Therefore, it would be best for you to start not with practice, but with theory. |
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The things are getting better now, and this morning market opened with positive trend with Bitcoin price increasing by 2%, currently it is trading at $17223 which is above its pivot point (16,818) on weekly chart. This is a sigh of relief for Bitcoin traders who make their living by trading in crypto. If this trend continues, there is a possibility that Bitcoin breaks its next resistance at 18,800, and CPI report comes in line with market expectations, then Bitcoin is likely to close above 20K by the end of current week.
The fact that the price of bitcoin has increased by 2% cannot prevent it from falling by 5-10% in the next 2-3 days. And of course it cannot serve as a confirmation that the market has turned around and an upward movement is beginning. But everyone can make a small profit if they have opened a long position. |
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Мои поздравления!  |
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Take advantage of the -70% downside when this is already a good opportunity. If you still hope for another decrease in the price of 8k-10k, that is each person's choice. But a price that low is still too far for now, unless the market is really not doing well and lots of FUD require bitcoin to collapse again...
Many would like to see not 70%, but 95%. But the reality is that bitcoin, unlike most altcoins, cannot lose such a percentage of its value. And if this really ever happens, then it will be possible to say that this is a complete collapse of the cryptocurrency market. |
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This is exhausting, I didn't do it before but I've seen someone it before and at the beginning, it was working for him but not for a long time...
This strategy only works in a bull market when purchases are made during a correction. In a bear market, with such purchases, you can lose a deposit, since there is no certainty that after the price drops by 10-15%, it will subsequently begin to increase. Most often, the price continues to decline, as the market is bearish. |
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Though I am not a market analyst, but I agree with your opinion that worst is over now, and Bitcoin is already bottomed out. We might not see Bitcoin falling to 14K or even lower, but it can only happen if we see repeat of FTX like collapse of any big exchange...
It should be noted that those who are optimistic and believe that we have started an upward movement in the market - 50%. The other half of traders believe that we have not yet seen the minimum price and expects that they will have the opportunity to buy bitcoin for 8-10 thousand dollars. |
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How can you tell if the price is at its high? You can sell earlier, and then the price will still rise, or after the sale, you can buy too early. This is easy to say when you already see the graph, but it is difficult to do when you need to make a decision in real time. Although you are right that the price has been at ATH for a long time, and for a long time it is at the bottom, if you do not rush, then there will always be a chance.
You can, if you have the skills, manipulate it yourself. As I noticed, after you sell coins, the price usually continues to increase and, accordingly, vice versa, when you do not sell coins, the price decreases. So it is very difficult to predict further price movement here. |
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To be a successful holder requires firm belief and good emotional management, not to be affected by FUD and price trend changes. Choose to hold cryptocurrencies that have development potential and can be profitable, and learn proper risk management.
I would like to understand who you consider a successful holder. After all, the goal of all holders is to sell the coin at the maximum price. Only the level of the price at which they will be ready to sell their bitcoin distinguishes such holders from each other. |
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I'm 47 years old, and I see and hear a lot of young people talking about bitcoin, and when I asked 2 young people and I asked, can I be the same age as me to invest in bitcoin? ..
It all depends on what goal you set for yourself when investing in bitcoin. If your goal is to sell bitcoin after the last BTC is minted, approximately in 2140, then it's too late to buy bitcoin) In all other cases, there are no age restrictions for buying BTC. |
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No one would want to trade without wanting profits in return, as there are a lot of successful traders but chose to be silent and stay low key despite of their huge wins or profits. ..
Everyone knows that only a small percentage of traders trade with profit, the rest either lose their deposit completely or partially. Therefore, there must be those in the market who do not know how to trade, and who will definitely lose their money just so that a small part of traders will make a profit. |
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Wish I could have done that, I am a long term holder and because of that I held my bitcoin when it was 5k but also held it when it was 65k as well, never sold, this caused me to have some profit now, but could had 3x more profit, close to 4x more profit right now...
This story will be repeated regularly and if you look at the bitcoin chart, you will see that investors had many chances to sell their bitcoin at the maximum price, and then buy several times more BTC with the proceeds. And the one who once went through this, in the next bull cycle will definitely sell their coins, trying to buy later at the lowest price. The main thing is not to get cheap. |
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...If it gets to a point where we experience a crash and I buy in at a price we don't see again for another month or so then I will just hold.
Thus, because of your mistake, you will move from traders to investors) Bear market is not the best period to trade if you are a beginner. Focus on learning and be sure to learn the rules for applying stop loss - this will really help you save your deposit in the future. |
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...What do you think? What other tips are there for becoming a successful holder?
The problem of every investor is that he does not fully implement all the tips that the OP has published. This can happen either due to ignorance or in cases where the investor specifically violates them, hoping to increase his deposit. But it can definitely be said that the holder should not sell his coins when they have reached the minimum price. |
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...I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating...
Such a strategy will not always be profitable, since many coins, after their price has decreased by 15%, contrary to your expectations, continue to decline. In this case, you should have a backup plan, which may be to use a stop loss to limit your losses. |
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Do you think people intentionally go into revenge trading or is is just emotional?
Many, a lot of traders are chasing their losses and they will take putting in more funds as they'll think it could help to recover. Unfortunately, it was not the solution as it only makes you fail and lose more. It is possible that some are familiar with the martingale strategy, when a player raises the stakes until he wins. But trading is not a casino where there is no technical analysis, and winning depends only on probability theory, so you can endlessly lose your money by trading against the trend. |
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You posted about it in 2019, and we have seen it in these previous days that some exchanges has listed the PiCoin and they were only in a way where most of the people losses their money, they were in the greed or earning even more money, whereas the own PiCoin channel has announced that we didn't even bring the Mainnet.
You are a little confused between these similar coins. As far as I understand, OP writes about PiCoin - https://coinmarketcap.com/currencies/picoin/markets, which is not actually traded on a cryptocurrency exchange yet. You same write about the Pi network coin - https://coinmarketcap.com/currencies/pinetwork, which recently made a lot of noise after listing on Huobi. |
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