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what about you guys who want to make enough to trade for a living but dont need that much profit a year to do so? Imagine thirty thousand usd for example.
If you have million dollars as capital then you can make 30K in a year easily but if you have 1000 dollars as capital then its nearly impossible to make the amount you expecting. Futures are your friend....but a very risky friend indeed and that's logical as the more you want to win quicker, the more you have to risk. For example, I invested 1000$ on binance futures just 3 days ago and now my wallet is almost at 5000$.....but obviously, to achieve that, you have to do almost hour by hour trading, it's like a second work (your prices alerts and stop order need to be updated almost every hour) Personally, I mostly played on Yearn (YFI)'s recent huge variations of price to make those profits but obviously you need to be on alert almost 24/24. Conclusion: you very rarely win that amount of money in such short time (relatively to what you invest) without working hard. I won't recommend futures trading for someone who wants to make money for their living and its really a gambling in my opinion, spot trading is the traditional way and we can use our skills to make the money we wanted. And there comes the old adage which is even more true in futures market: only invest what you're willing to lose. And yeah it's a sort of gambling but with some parameters you can control especially if you're good at mental calculus and you are rigorous with your strategy when it comes to put reasonables stop orders. |
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what about you guys who want to make enough to trade for a living but dont need that much profit a year to do so? Imagine thirty thousand usd for example.
If you have million dollars as capital then you can make 30K in a year easily but if you have 1000 dollars as capital then its nearly impossible to make the amount you expecting. Futures are your friend....but a very risky friend indeed and that's logical as the more you want to win quicker, the more you have to risk. For example, I invested 1000$ on binance futures just 3 days ago and now my wallet is almost at 5000$.....but obviously, to achieve that, you have to do almost hour by hour trading, it's like a second work (your prices alerts and stop order need to be updated almost every hour) Personally, I mostly played on Yearn (YFI)'s recent huge variations of price to make those profits but obviously you need to be on alert almost 24/24. Conclusion: you very rarely win that amount of money in such short time (relatively to what you invest) without working hard. |
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All that can be said about YFI has long been said both on this forum and by the charts themselves.
If all cryptocurrencies and the market itself are often compared to a bubble, then your vaunted YFI is a 100% bubble in its most pristine form.
The main question is whether you will have time to get out of it so that you can earn money? If you have time, then of course invest and you will be able to get a good profit, but if you do not intend to look at the terminal continuously 24/7 and react to any wind blow, then it is not worth it. This is really a real casino, and as we know - the casino in any case remains the winner.
Prices alerts are your friend  |
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Thank you all for your answers.
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Didn't give much interest to this coin before but do you think this project has high potential?
Do you think it can reach 0,1$ in a near future?
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Those who believed in this project earned well. In General, the situation now resembles the cryptoboom of 2017. Many of the DeFi projects show very good profitability. YFI is one of these projects.
Agree. Think there is still huge amount of profits to be taken thanks to this coin. With the coin now falling to 23k$ while it was still at 34k just few days ago, there is still potential for a huge bull run so if I were people, I would buy it now and enjoy a new ride.  |
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That's unbelievable.
There had to be a correction for Link especially after its incredible run of the last few months but now, it's not only a correction anymore but far more than that.
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Many factors have contributed to the downturn in today's market, but there's no need to panic. We must think positively,
remain confident that the market will rise soon. I believe by the end of 2020 we can all see cryptocurrency prices return
to an all time high price, therefore we don't panic by selling the cryptocurrency we have today. Right now is the perfect
time to buy Bitcoin and altcoins, because the prices are cheap.
Well, easy to say for you! I had 700 links , 22000 cardano and 8,5 Eth in futures and guess what, despite having a wallet of 7000$ Thanks to those futures still 2 days ago, all my futures positions were liquidated today because I thought until last moment that link in particular wouldn't drop under 10$ and that it as well as cardano and eth prices would sooner or later increase again. How wrong I was! |
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Chainlink's drop is quite spectacular and honestly i knew there would be a correction from 20$ to 14-15$ but never in hell did I think it would drop again under 10$ in just few days!
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And again, never hesitate to use stop-limit orders.
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Chainlink is a great coin and a great project whose price has been skyrocketting for the last year and half.
And it seems that now that the psychological 10$ barrier has been broken, the pump is only beginning with investors trusting it more and more.
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Not necessarly asking if it WILL happen but do you think it can realistically happen?
I think it is realistically possible because we have seen many coins rally from cheap prices to even more than 100x in last 2 to 3 months so ada is one of the top tech coins and with great updates coming this year i think reaching $1 will not be a problem for ada, so just stick to your ada and hodl and do not sell cheap. I will actually sell ADA almost every time there is a correction, just because i want to have more of it  |
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1.Invest money that you're not willing to lose
2.Panic shorts when the price goes down : to not confund with calculated (and for me, good) shorts when the price goes down in crypto projects you really believe and so, just in order to see the price goes even more down and buy even more of them than how many you shorted.
3.Not use stop-limit orders and price alarms (without abusing of it of course in the risk of becoming crazy)
4.an obvious one but only watching the numbers and the curves without looking at the content of the projets and the news about it,crypto world and in general -virus,war,oil price,crisis,etc...- (classical trading advises of course)
5.a bit the reverse of the 2 but shorting too early when the price skyrockets despite the fact you truly believe on that project to have even more potential than that.
Actually, 2 and 5 can be summed by "stay calm and composed and think clearly about the bigger picture whatever the price movements are"
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Thanks all for your answers Multiple and increase by 8.
I think that's possible and realistic to be seen. For bitcoin that's very possible to have times 8-10 gains and we're waiting for that. That's where I'm basing, if it's possible for btc so that could be too for alts like Cardano but necessarily for all of them.
it can be expected, and it is possible, but i would not call it realistic, especially till the end of the year, it would be great, but IMO the probability of that to happen is not that high, would call it on 10% or less, not impossible, but hardly to happen, do your own analysis before investment, but be careful with expectationsStop-limit orders or at least, price alarms is a must, isn't it? |
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it looks like Altcoin will indeed get ready to go to the moon this year, it looks like the dominance of bitcoin is now down, and only a few altcoins with low satoshi are now rising, maybe in the next few days all altcoin will go up
You are right, altcoin is headed for the moon. Current market conditions make the price of 100 cmc altcoin start to rise slowly, Ethereum can we monitor the chart quite well in the last two weeks and is followed by another altcoin. Chainlink made a new ATH history last month ... fill your bag with altcoin top 100 on coinmarketcap. The market recently has been giving me this feeling as well. There has been something in the air for the last few weeks that has reminded me the glorious times of 2017-beginning of 2018. Investing a few futures on Chainlink (560), Cardano(22000), Vechain(62000) and Ether(  3 months ago and seeing the results since then certainly increased this feeling as well |
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Not necessarly asking if it WILL happen but do you think it can realistically happen?
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1.Ether (no comment)
2.Cardano (can easily see it reach 1$ before end of year)
3.Chainlink (extremely promising project with a good team, wouldn't be surprised if it reaches 20$ very soon)
4.VeChain
5.BTC
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