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661
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Economy / Trading Discussion / Re: First hand examples of Emotional trading
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on: March 20, 2019, 03:24:39 PM
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What are some examples of when emotions mess up your trades?
During the pre-bull run in 2017, i had some quantity of Ethereum which i kept for over the prevision years; hope to trade when the market appreciate. In 2017 when i saw the market positive movement; haven seen the movement before on a swinging pendulum, i placed my trade at the price of $812 in Dec. 20-2017 and after some few months away the price hit $1,377, this was my emotional mess. Lol, I sold mine when the price goes to $400 and then keep some, months later I dumped another set in December 2017 around $800 I think. If I just hold on it for a month (2018) I could have sold them in it's all time high. Anyways, now I just accumulated at lowers lows and hope one day that the price could go on another 4 digits or more. Really hard though, if we involved our emotions here. Well we really can't determine where the peak of a bull run would be so i think you guys shouldn't be too hard on yourselves. Think about it, some people have been too greedy to make an exit that instead of making big profits, then end up at a loss. You're actually lucky you got to exit just around 500 usd shy of all time high. That's already a good deal. |
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662
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Economy / Trading Discussion / Re: Mistakes newbie makes in trading resulting to losses
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on: March 20, 2019, 01:58:33 PM
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Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.
That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risks Well big risks often offer big rewards and that can be too tempting especially for those who are inexperienced with handling their emotions. All these mistakes will be committed by newbies. It's how they'll learn from them that will determine if they'll be successful or not. |
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663
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Economy / Trading Discussion / Re: Which strategy you apply in recent bullish market?
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on: March 20, 2019, 01:53:44 PM
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If we look some previous day we can see everyday must pump one or more than one coin. And if start to pump then It continuously cross 50%-100% even 200%.
I just looked at https://coinmarketcap.com/gainers-losers/, and damn, Ormeus Coin 1351.05% in the last 7 days? Lol, that's serious pump-and-dump. So I want to know how you earn a lot of profit in this market? Have you caught all pumped coin? If yes Then please explain here so that we can earn profit also.
However, not my cup of tea right now, don't have the time to just watch my laptop and see who's coin is pumping or not. So no, I haven't caught, but the one I posted was really very good pump, that is if someone has really caught that on time and join the ride. You don`t get into trade if they are 1300% up already, that`s the time for selling. Market never rests, we have red days, times for buying, and green days, times for selling, every week there is some nice spike, nice dip for buying. Every ride starts and ends, and after that you are searching for new ride, it`s trading, you can`t catch all the rides, don`t even try to do that, focus on coins you can hold for long term, so if price drops instead to rise just hold it. With pump and dump coins you don`t have other choice than to cut loses, and that can be a big loss. Well i don't think any coin right now would pump that high anyways except for scam coins trying to bait investors in. For me, the strategy covers both bullish and bearish markets. The bearish market is where i accumulate coins regardless of all the negativities. When the market turns around, that's the time i formulate a decent profit plan but i don't sell everything i've accumulated. Crypto market for me moves in seasons and there's always a next time. |
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664
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Economy / Trading Discussion / Re: Excessive confidence in cryptocurrency trading.
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on: March 20, 2019, 01:42:07 PM
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Excessive confidence means he ready to take any risk that will come. It is what trader must have, because if we always doubt with what we want to act, we will lose chance in trading especially in big volume coin.
But having confidence on the wrong coin will make us to be in losses,so we just keep crypto earnings as one source of income nit us our primary source of income. It is very important to have confidence in our investment, either in a wrong coin or a good coin but we must not 100% rely on them, this is why I will buy into your idea of not making it one or major source of income. Many people that have invested in wrong coins didn’t actually plan to do so; they might have seen the light in the project when investing. Including the project members themselves but probably something happened along the line beyond their control that made the project shift from being a good one to a bad one. If we don’t build our confidence in any of our investment, this is where panic selling comes in and eventually makes us to lose it all. Your confidence is useless if you will only invest on badcoins because they wont have a good future and no matter how confident you are of hodling them , your chances of earning a profit will still be zero . you will only wait for years and even decades for nothing , this is why i suggest go only for the top and popular coins such as bitcoin and etherium because even if you are not 100% confident on them , there is still an assurance that you can earn an income . Well excessive confidence basically means being cocky. And we know that it sometimes that can lead to massive losses. Yes confidence is essential to have a positive attitude and making sound decisions but getting over cocky, especially if you don't have that much asset, can end up pretty disastrous. |
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665
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Economy / Trading Discussion / Re: Why trading is unhealthy?
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on: March 20, 2019, 01:38:09 PM
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Trading make me stress because i loss alot of money but when i earn alot of profit, that return will change my life.
You need to control yourself as it is very unhealthy of you if you will continue to loss. Learn to play without being too emotional, just play with your mind and just accept whatever happen with ease. Crypto trading always give negatife and positive impact for us, but i believe crypto will much more give healthy life for many trader. If we keep learn from the mistake, later crypto trading will really change our financial because from this market we can earn profit above 10x just in afew month.
Sometimes you are upset if you fail, but just move on, there's plenty of time to trade and that gives opportunity for every trade. Trading every day makes us tired in less than the required time on normal days. Opportunities will happen here or there but thinking about a healthy lifestyle is first before making any money in trading platforms during countless hours. Well it is stressful especially if you're just starting and isn't used to watching the market fluctuations very often. We all know that staying in front of your computer or mobile device for a longer time can cause health issues. And the anxiety from all the market's drama can also add to that. |
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666
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Economy / Trading Discussion / Re: Why we shouldnt panic sell
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on: March 20, 2019, 01:35:01 PM
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Good advice mate indeed that's the only way how to stop lossing money especially if we already late to sell off. Panicking is a big mistake and patience is always a virtue. So we should understand the situation because in fact it's just a temporary and so on market will stabilize again and again . No need worry actually!
People who easily got panic are usually those weak hand holder and perhaps they are newbies in the world of crypto and there's a logical sign that they are not real crypto enthusiasts. Most likely those people have only wanted a short time profit and can't patiently wait until the market goes up. Well, we can't blame them because that is their belief and afraid much losses. If there's an opportunity we can guide them in a right way. Yeah they're afraid of losses because they can't afford having their money suspended for a long time. Long term holders very seldom experience panic in bearish markets. Experience plays a huge part as well in having your emotions in check. Sometimes panic can save you losses but more often than not it causes the loss. |
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667
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Economy / Trading Discussion / Re: Short now = make lots of money?
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on: March 20, 2019, 01:31:44 PM
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I can't say for sure that you will make a lot of money all the time from short selling, but it can actually give you money.
IMO, shorting the market now is a bad decision. There's no more big downtrend anymore and looks like the market is already set for full recovery. Anytime I have a feeling crypto will once again explode and we will see pump everyday, it's just not a good time to short now, the trend does not says at all. Well not really a bad decision. It really depends if the person trading is experienced enough to actually make profits from shorting. I know a lot of people can't seem to grasp that concept and a lot also who are making good money out of it. |
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668
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Economy / Trading Discussion / Re: Too many exchanges?
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on: March 20, 2019, 01:29:18 PM
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We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?
Too many exchanges still not convincing the traders to use their sites so it is still not making any changes to the cryoto field but having more exchanges have more benefits for the traders which can give mkre options to pick exchange with less fees. Well the more competitors, probably better for the customers. That'll force the newer exchanges to make sure their services are better to attract customers and the older ones to make sure they keep up. Of course there will always be illegitimate among these exchanges and it'll be up to the traders to practice precaution. |
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669
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Economy / Speculation / Re: This has happened in the past!
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on: March 20, 2019, 12:39:44 PM
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Well you can't really base your decisions entirely on what happened in the past anymore since we've also seen that trends aren't as reliable as they were before. 2018 made sure we realize that. Though it can be good for consideration, looking at past trends shouldn't be your main source.
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670
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Economy / Speculation / Re: btc's possible next moves
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on: March 20, 2019, 12:30:32 PM
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if that support doesnt work next step is 3150 and maybe 2800 once again.
that may only happen if the resistance ($4k) can not be broken not after it breaks and price goes up to next level. and if price dropped to something as low as $2800 it won't stop there, there will be a hard crash thanks to the panic. It might not necessary create hard crash because people that will panic sell are the baby investors, and as they chicken out of the market, a lot of people are out there actually waiting for price fall in other to take advantage of it and buy more. Using myself as an example, I still bought some BTC at the current price which I am still holding in my wallet and at the same time hoping for the price to crash so I can buy more to secure future. There will be lots of people who will prevent it from hard crash by accumulating more BTC at that 2800 price. Lol. You think that at that price range, there will be massive panic selling? I don't think so. We've been through quite a lot starting last year and a drop from here to the sub 3k levels, i think won't hold that much gravity. Especially when majority of those that are still here can hold for long term. |
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671
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Economy / Speculation / Re: Is Bitcoin Too easy to manipulate?
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on: March 20, 2019, 12:21:02 PM
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Nowadays yes bitcoin so easy to manipulate which is because of some ppl that always panicking when there's a correction on the price or small fluctuation. especially when there's only a Fud's that spreading false alarm just to intimidate holders ,because ppl always jumping nowadays and keep selling to prevent losses even though have no idea if it's true or not. .
Panicking is a reaction dude. It's not a form of manipulation. The ones initiating panic are the ones doing the manipulation. And it's not surprising. Anyone who has enough funds can start a pump and dump action that can snowball wildly due to fomo and panic. |
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673
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Economy / Speculation / Re: Are we finally in BULL MARKET?
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on: March 20, 2019, 08:41:14 AM
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What we've been experiencing seems to be the gradual growth, and the same could lead to a bull market if it gets continued support from the small volume holders in large scale. As we are into the last month of the first quarter of the year, it is supposed to provide us with some wild variation on the market. Hope to see the bull market soon.
That is truth, bitcoin has been moving in a channel and it is very difficult for some one to actually predict if the market is in bullish trend now as it has not really moved from the last bottom. The market is somehow stable now and it is very difficult for us to see market directions as it is in time past when the volatility always show the market directions in a shortest time. It is very funny to say that the price movement with a very small margin is said to be bullish has started, this hasn't started yet. I know that many of you really want to see the market go green again, be patient Yeah the growth of a few hundreds isn't by far an indication of a bull run. I think we should accept the possibility that that bullrun we've all been waiting may not come probably this year. Basing on the first quarter movements, there aren't aby solid reason why another big run would happen. The possibility of us dropping is quite even. |
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674
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Economy / Speculation / Re: Let's prepare for the worst
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on: March 20, 2019, 08:36:57 AM
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I think we should really prepared for the wost and keep faith with the market in investing. Many people has abandoned the cryptocurrency market and that is why it is good that we the enthusiast should keep investing and promote bitcoin and cryptocurrencies market.
On a funny note, i would like to know how much you have invested to stabilize the price of bitcoin  . People have not abandoned the crypto market, the riders who ride the market when there is a rally might have abandoned the market and they might come back when there is yet another bull run, other than that the transactions per day remains almost the same like before and there is no dip in that either, the market is showing signs of recovery and it is a positive sign for investors who are looking to make profit. Well a lot of those riders probably have exited at a loss anyways during 2018 lol. And there's nothing to lose if you prepare for worst days to come. I know that we've probably bottomed out already but there are times when the market just wouldn't give is a good shot, and being prepared for anything that can happen is the best thing anyone can do. |
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675
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Economy / Speculation / Re: Bitcoin spike
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on: March 20, 2019, 08:34:10 AM
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I wouldn't expect anything lesser next,especially with the long time dump.though there are predictions that it would be better than then. But at least, it should not be lesser.
Opportunity comes but once, we hope too much to suddenly believe that BTC will suddenly jump to $20k again within a short period of time. Nah bro, whales took advantage of BTC the last time BTC experience such pump and they have already pulled out, the profit gotten through that last pump is more than enough to cater for 2 generations and believe me, I don’t see them entering the market again for now since bitcoin is already stabilizing and we will only experience such increase again and higher when 50% of the population fully adopt crypto. You're probably right dude though with or without a run like what happened in 2017, i think we'll still see another all time high. Well after a long while that is. A slow movement to that level is probably what's going to happen with a lot of dumps in between. A lot of positive things can still happen even before mass adoption. |
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676
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Economy / Speculation / Re: BTC To Under 100$
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on: March 19, 2019, 04:21:37 PM
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And that won't happen because it's getting closer to Halving day, can you see that the price has now reached 4k USD. hopefully, this will be a good move for bitcoin at least to 10k USD. Don't panic, mate! rumours and storms will pass soon I guess. Speculation will raise various issues but in fact, more and more people are investing in Bitcoin or cryptocurrency.
Indeed, $4k was heading to be surpassed soon and we will see how this bear market be over taken by more greener pumps. That $100 was impossible to happen, but still we need to be careful and always be prepared for possible crashes. Although some glitches of price downfalls might occur but not totally worst. Positive speculative ideas also tend to come out in several days, so stay tuned and enjoy to hear that and probably it will help raise the good reputations of btc again. Btc would be as good as dead if ever that happens. Anyone would be foolish to give a chance to something that went from 20k to 100. That usually happen with ponzi and scams. Thankfully, i think btc is already established enough not to crash to even close to that level. |
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677
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Economy / Speculation / Re: ??? DECISION TIME FOR BITCOIN?!?! 4k or 3.5k?!?! ???
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on: March 19, 2019, 04:19:01 PM
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Its hard to know where the market is heading but I'm confident that the bottom was already hit. The recent dump is just because of the failed attempt to break the resistance and its normal. The dump price will continue not unless we already surpass the resistance on level $4300. Let's make a good prediction, the market will go high!  I see a lot of people responding like that, if a lot of people believe and are confident about the condition of Bitcoin in the future, then I'm sure recover is just a matter of time. The bottom already over which will happen in the future is price increase, it's better that you prepare to buy more before you are left behind and miss a big opportunity.. The question is, are that much people really confident n btc right now? Though i agree that we've probably bottomed out already, i don't think confidence is high. New investors are still wary in putting in money after the 2017 -2018 drama. The steady hands would have to get is through this slow movement for now. |
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678
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Economy / Speculation / Re: A Saving Plan
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on: March 19, 2019, 04:15:51 PM
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Regular spending on bitcoin for a longer time period unlike the price difference happening with time is a best saving plan. Here it gives the user with the best in the market and provides with ease on investing as we don't know when is the bull market or the price pumping gonna get initiated.
Using crypto money is the same as a frugal package, because transaction costs are not as big as using banking services and faster. This efficiency is an added value in crypto use, especially for payments between countries. Then, the use of crypto is only based on the internet which means it is simpler and not subject to other costs, because something that happens in cyberspace cannot be taxed. Well using it now at this current state could possibly make you lose out in the long run. I'd rather lock up any bitcoins that i have and spend regular money. At this point, i don't see it as a cheaper, more convenient mode of transaction but something that'll give me profit in the long run. |
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679
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Economy / Speculation / Re: No bull market for 2019
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on: March 19, 2019, 04:13:32 PM
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No bull market for 2019 is fine with me but one thing is for sure that the time will come for Bitcoin and it'll set its all time high once again, of course no one knows when will it happen but we're all positive with that. Actually I don't see any reason for a bull market.
I'm predicting that the price of Bitcoin will gradually increase just for now and would spike on year 2022.
Now onwards we can expect gradual growth, though the market is down gradual growth causes big rise in price long term. Price fell low to $3000 and now it has crossed $4000, which is through gradual growth. There is no big bull run, similar kind of growth needs to last so that even before the year end we can reach at least &$15000 without any bull market. Lol. I highly doubt that. A gradual steady growth would likely put us at 8 or 9k at best. That is without any legitimate bull runs. We probably shouldn't be thinking of anything past 10k at this point because it'll take a lot of hype and confidence for us to achieve that. |
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680
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Economy / Speculation / Re: Bitcoin at $9,000 by the end of the year
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on: March 19, 2019, 04:11:06 PM
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I didnt tend to watch the video but out of that kind of prediction which hitting up $9k price on the end of this year seems really very realistic rather than those
who do keep saying about reaching 20k,50k or even more.Price increase do really need some bullish news that would be fitted out or the best catalyst to trigger
the bullish run.
I hope that is true, because in my opinion if market conditions continue still like this, even $6000 for bitcoin will be very difficult. we need a lot of support from users or from outside such as acceptance from large companies or countries, fortunately there is halving next year, so this issue can be a hot topic and the reason someone buy bitcoin We just need to do more too by spreading bitocin news across the globe so we can get more attention of new investors to come into the system, I understand that the system will speak for itself in the long run but this can help to hasten up the adoption rate. The only challenge I just have now is with altcoins, altcoins are taking money that are meant to be invested in bitcoins and diverting it into altcoins with the fake promises most of them gives instead of embracing the system of BITCOIN so we can even enjoy the benefits other than the investment own. Bitcoin does attract attention. The fact that bigwigs like elon musk and warren buffet are giving out statements about it, even if they're in contrast, shows how popular btc is already. I've grown tired of trying to figure out what the end price for this year would be anyways so i'm going to be cool with whatever it'll be. |
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