Hello everyone , I'am a beginner on crypto trading and i'am
looking for your recommendation on some essential books on how to trade/trading strategies (preferably on day trading), any of your recommendations would help, thank you.
I would recommend you to ICT Trading you can search for it easily on youtube, he is also known as the mentor of all mentors teaching Smart money concepts and price action. I don't find any books that are helpful in terms of strategy (I want it to be in a course or video sample teachings). But I would recommend you some books that tackle trading psychology. Those will be Mental Game of Trading, Trading in The Zone, The hour between the dog and the wolf. I would also recommend you to watch trading documentaries on netflix or at youtube, it will help you to realize proper expectation on trading your own account and what professional trading truly is. Wish you best and good trading. |
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The logic of life is that you can't earn more than you know,
Any amount you are earning today is 80% as a limit of what you know.
The richest man on earth is earning whatever amount he is earning due to the advantage of what he knows or can do.
So, before you can move from earning $100 dollar monthly to $1000 per month,
One of the major thing you must scale up is your knowledge.
So ask yourself, what should I know that can make me ×2 my monthly income?
Seek knowledge always.
This is true. Accept the fact that there are steps you must go through first. Take also in mind that money is not a goal, it is just a tool to give you freedom and make you do the things you want to accomplish in life. Like working a 9-5 job won't make you filthy rich, having a low-level skill won't make you either. So you have to learn first before you earn. Most people don't get this part. They want to hop right away of making thousands of dollars not knowing that their skills cannot compensate for the money they are yearning for. So give yourself enough span of time first to learn a high paying skill then money will naturally come into your hands. Not literally but opportunities will show up because you created your own luck by persistently working hard. |
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Hey All,
Question on a Makers and Takers fees as apparently I'm missing something. I'm trading on Bybit Derivatives Perpetual, mostly using Market prices meaning (per my understanding) I'm Taker. I use relatively small amounts and I've notice my PNL after transaction is done significantly differs from the one I see on the Trading view when closing transaction. Sometimes I see like 2 $ profit and after Market order to sell in order history I see 0.20$ PNL. I thought this is % base and according to Bybit it's
Taker Fee: Order Value × Taker Fee Rate (0.06%)
so should not be that much of a difference. Yes I also know that it also depends on the price by which the order was filled in, but still I'm puzzled by % difference.
Also Bybit Order history page which shows only basic info on sell from top menu Orders -> Unified Trading Account -> USDT Perpetual does not show transaction fee amounts, or am I missing something ?
Thanks for your advices
M
Yes, and makers and takers fee are only credited to those who buy market to have an order, or sell market to take profit immediately real-time. The fees depends on the platform, spread for ask/bid price relative to the order value. So preferably, instead of paying fees for makers/takers, you can instead do leave a limit sell or buy orders. |
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s/amp.theguardian.com/australia-news/2023/jun/28/ads-for-online-gambling-should-be-banned-in-australia-within-three-years-inquiry-recommends]Ads for online gambling should be banned across all media and at all times within three years to combat the manipulation of an “impressionable and vulnerable audience”, a parliamentary inquiry has recommended.
After months of debate about betting ads, including the prime minister, Anthony Albanese, labelling them “annoying” and the opposition leader, Peter Dutton, calling for a ban on ads during sports matches, the inquiry has provided a blueprint to shut them down entirely. https://www.theguardian.com/australia-news/2023/jun/28/ads-for-online-gambling-should-be-banned-in-australia-within-three-years-inquiry-recommendsIf this should be implemented will it affect bitcointalk casinos? As we all know most established and new casinos come to bitcointalk to launch their ANN thread and carry out signature promotion campaigns which can be regarded as ads in a sense. If ads should be banned will their promotion in Bitcointalk also end? I don't think that will be the case. But spreading misinformation like this could spread as a FUD. No, it won't end. First, the scope is only at australia. Second, it lies under the casinos, bitcointalk forum is a forum where people share ideas and networks. It won't end there so stop overcomplicating simple and misunderstood information. Bitcointalk I believe is a great platform for beginners and for those experts to interact with others. |
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You've got a point there, and truly, your take on time zones and sports gambling has weight. Living in -3 or -4 zones appears to be a win. You can eye European matches by day, then pivot to NBA by night without messing your Zzzs. But, lets factor in a breakthrough - a bettor's sport of choice. If one's heart beats for European football, they might vote for 0/+1/+2 zones.
Moreover, while Pacific time (+10) may seem a stretch for some, for Aussie sports or Asian football fans, it might be spot on. So, while your ranking has credit, its a personal play based on one's sports affection.
I don't think that would greatly affect the outcome of any bets that you put. But only the participation that you are going in. Of course, you have to choose one which will be available to your timeline and the game that will meet your niche. So for choosing which sports bet to dangle with, a Live bet is what you prefer that you could also monitor the progress of the game. So the availability of the game will make and help you decide which sports bet you will be exposed to be it basketball, baseball, or soccer, relative to the timezone that it the game will start. |
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Currently, it seems that sites that implement web3 technology are popular. This site connect wallet to login. Is it possible if bitcointalk also adopts such a system in the future? maybe it will be more interesting if we can log in with a bitcoin wallet
But I don't know if a bitcoin wallet can do something like that. most sites that adopt the web3 system use the ethereum network
If that can happen, the marketplace system will also be easier to use. I think the marketplace system here is too conventional. Not bad, but prone to fraud
I was enjoying a cup of coffee while browsing the forums. suddenly thought that question in my mind
Well that is probable actually. But for me personally it's a no. Implementing Web3 may change the fundamentals and purpose of bitcointalk. Yes it will be easier, but also be easier to those scammers who wants to take advantage those who are still learning. I also love this preface that looks classic for threads and forum. If it does, well we will cope to that change and I believe that will be a lot. In terms of security, web design, accounts, and threads. |
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I'm a pleb like most of you, and I too have, many times, become pesimistic about the economy in general and in what's about to come. But has anyone ever considered that,
- The economy is not going to crash into a recession
- That there will be an actual soft landing
- That the Russia - Ukraine war will not escalate into a European war
- That Gensler CAN'T truly ban crypto
- Institutional investors will come back and take Bitcoin to six digits
I'm probably missing more narratives, but you get the idea.
But more importantly, what are you going to do with it? Maybe the economy is not going to crash into a recession, the question is "How are you going to capitulate the bull market then?" If there will be an actual soft landing, war will not escalate into a greater war, Gensler CAN'T truly ban crypto. Then this is a good sign, what again are you going to do about it? Will you put more money at risk? Will you invest more? And if whales come back and take Bitcoin to six digits, how are you going to participate and take your profits? You see, it's not about what you know. It's all about how you behave whether the economy is doing good or bad. What are you going to do with it? |
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if we talk about this globally, then the shortage of food staples is very difficult for us to overcome, because it is the government's business to deal with imports and exports. however, there are some countries where the agricultural land is very good, or the sea has a very large source of fish or sea creatures. because it is a government matter of import and export. what we need to do is improve the finances we have so we can buy it.
If you are thinking of increasing your food sources personally, or in your area. then you need to improve your agricultural knowledge, or waters. I've seen several people who make their own food sources, they learn farming, animal husbandry, hydroponics, learn things about fish farming, and others. in fact, I've seen several people who started raising laying hens when the pandemic occurred. it is a smart way to produce food sources every day.
There is no food shortage. It is only a manipulation of the price to make it higher. Because if many people believe that shortage is true maybe because of calamity, wildfire, temperature, FUD news, and more. This causes fear to the consumers to buy at a higher price, because what? Food is out of supply? No. There is enough supply. It just happened that many food traders are taking advantage both the hard working farmers and consumers. |
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I will use the government sector as an example whenever I see a leader I do believe that it is not comfortable for him all the time, you may always see him smile in public but the hardships he is encountering can be destructive, taking about our leaders in the country most of the moments thing may go hard on them but they still take uptheire responsibility as a superintendent of thatcountryy to protect and provide for them, let me use my self as an illustration when I was younger I thought that when someone is been chosen as a head
thatmeansn he is wealthy and riches and powerful and will live a life of no suffering in his generation but it was more than that, one can have this material thing but still not have it all, most of the time this word is a called corruption
Closing our eyes for us to see this little thing.
And there you can find the difference between Politics and Leadership. As an old quote says, great power comes with great responsibility. Then and only then being a leader of a country has power over the government, military, and system. This requires a great deal of responsibility to keep the country's sustainability of needs, economy, and peace. Of course, power towards other nations and connections to other organizations are necessary for being a leader of a country but only secondary. What is needed for a leader is integrity. However it is not enough, because even the leader is true to his responsibilities, corruption occurs on their subordinates, lawmakers, and cabinet members. |
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I think when gambling is involved, nothing beats having self-control and playing in moderation. This way all the losses are controlled and we are able to make use of our time for more productive activity. Don't let ourself hook on the idea of chasing wins and losses because that will be the time that we will be losing money that is more tan what we can afford to lose.
Aside from that, we can't really analyze why we lost if we are playing a luck-based gambling game since its result is random. I think in this kind of gambling game, the only authority we have is the amount of betsize we are wagering.
Exactly and in addition, I would say that you can easily do these things when you have a life outside gambling, have a job, a hobby, or a side hustle. In that case, you are unlikely to overindulge yourself in gambling or overbetting. When you got a loss, then do your side hustle or play with your hobby. You take a break because you didn't make gambling as your life. And that is very helpful in managing your exposure to gambling casinos. Also, your source of income and entertainment is not only in gambling but in your job or hobby too. So if you are able to manage your gambling well along with your priorities in life, I think that is more rewarding than winning one big shot of dollars. |
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Cast your bet in a match that have yet not started or bet when the game is already live?
It must have been asked before but in case new sports bettors have not yet read such thread, reply back your opinion about it.
Found myself losing when the money line changes from 1.75 to 4.35 as the game began. But sometimes when I also wait for the game to start, it changes to worse such from 1.75 to 1.10
I prefer betting before the game cast its start. Maybe the odds might change before the game turns live but it is what it is. I will rely solely on the team I betting with. Also, when the game is already live, and then I put up a bet, I tend to confuse about which side I'm going to bet on because I am looking at the stats changing, unlike the pregame which I have a static analysis that is yet to move. |
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When trading there are rules to observe in other to protect your margin, it's more like if you can't make more money, don't lose the one you have,
That's where risk management comes in handy.
The strategies are;
_ Don't risk too much money, start with what you can afford to risk. Focus on the risk not rewards.
_ Identify potential risk as;if it goes down, if you don't take profit, if you don't use stop loss and if the coin goes against your analysis.
_ Reacting to risk, use stop loss and always take profit.
Very well said. preserving your capital and not losing any percent of your benjamin is a win. Yes Risk management is very important for crypto trading. Without proper knowledge about risk management there has huge possibility to loss our valuable fund. I think we have to follow some things to trade to avoid loss Fund like
* Never we use all fund at a time in trade.
* Never we will Crazy in trade.
* We have to avoid greedy.
* Always use stop loss and take profit.
* Never trade opposite of market train.
* And we have to cool when we trade
I think if we follow that's we will capable to reduce risk. To avoid loss our valuable fund we have to do proper risk management. Otherwise we loss our valuable fund.
This is easier said than done. We all know this as a trader. But how well can you follow your well-written risk management plan determines your result. It doesn't matter how much you know managing funds, it all lies down on how are you able to follow it. Not only that we have money or fund. We also have mental capital which we also preserve. If we lose this, we can't expect ourselves to perform well in front of the charts. It's not only the monetary value, but the psychological value of the risk involved. |
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Is it possible for a casino to go bankrupt because a player gets a very big win?
I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?
I don't believe that's the case for the casino to go bankrupt. Because like any other business, all of them have that allocated with enough funds to sustain their business in the long run and especially in difficult situations of business like this. They could have emergency funds or reserve funds. There are also times that if the player won a lot and too often, casinos will consider this as an anomaly or a player is cheating so they won't release any money until proven that there is no cheating. There is no cheating in terms of every single game in gambling, however, there is when in terms of their system such as withdraws of your wins. More often when you win a lot, they won't allow you to withdraw it. |
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Bitcoin to 1 Million is it really possible?
1 million what? Stones? USD? EUR? The value will always be dependent to it's correlation of another asset be it fiat or metal such as Gold. But the sky is the limit. There is a possibility that it can surpass 1M usd but it is also one in a million probability. Objectively speaking, 1M of value would be an overprice. No one will be willing to do such a transaction of person to person unless the supply is very low. There's no wrong on that question. But having a more realistic insight will give you better information with dealing with future price action in crypto. |
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while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.
To accumulate? I would not think of that because in gambling, there's no assurance that we will win. Instead, I would just trade it for fiat to ensure I will get my money. I would not risk waiting for the time it will be banned, just to keep it safe. I would withdraw and probably invest the funds in other stocks or online investments, or even start my own business. Gambling and investing should be different. If we gamble, we can become too desperate and might easily accept the loss and our bitcoin will be gone for nothing. Yes, it is different. But the asset you are playing for and trying to win is not being valued by the government you're in. That is the case with OP's post. I would say that if you have that faith that the coin you are holding will last longer than the time horizon of your country banning the cryptocurrency, then it will be worth it. If you don't have that, then better to cash out all the funds that you have invested in then have a lesser exposure bot in crypto gambling and crypto alone. It will be rewarding if you keep it. Because crypto is universal. You can use it anywhere. That if you have a chance to get on another country, then you can use it. |
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There are many gamblers that can gamble just to have some fun and make money in the process and there are some that focus on gambling only to make money so I would like to ask such people a question.
would you prefer to gamble in a casino and make some money or learn about futures trading and make some money?
Which one do you actually find to be more easier and I believe that futures trading is also capable of giving someone life-changing money but which one do you believe is less risky than the other?
The thing is EASIER. And in futures trading, it won't be easy because you have to learn many things technical analysis, psychology, and such. It will take you a lot of patience and discipline to be a profitable one. So if you want an easy route, then go for gambling. Both will absolutely give you an insurmountable amount of money if you do it right. Both have risks but different levels of difficulty. One requires luck while the other requires you more skill. It's just a matter of what risk are you willing to tolerate. |
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hello everyone, to start I need to give you a little context to explain what I consider a mature account in a casino these days.
From January 2019 to June 2020 Luckygames was my main casino, this was because Luckygames had very good things that I did not find in many competing casinos but as many people already know Luckygames closed in June 2020 so in my case I had to search alternatives with competing casinos to continue betting and the same thing happened to my friends at Luckygames.
In January 2020 I signed up for Stake and to date it still seems like a good casino to me, Stake is one of the 3 casinos where I have my 3 mature accounts, the other 2 casinos where I have my mature accounts are BC and Wolf, in the last 2 I registered when Luckygames closed.
Now I will tell you what I consider a mature account in a casino, as many people already know, many casinos have a VIP program and you enter that program after having bet a certain amount, among BC, Stake and Wolf casinos I see that in BC it is more It is easy to enter the VIP program, in BC with 1 usd wagered you can enter the VIP program but at level 1 you are in bronze rank and I do not see benefits of being at level 1, I consider that in BC to start having good benefits in the VIP program you have You have to be in the gold rank and you reach the gold rank at lvl 22 with 49k usd wagered, in my case I started in BC with lvl 30, this is because I transferred the lvl I had in Luckygames to BC, with respect to Stake and Wolf I can tell you that these last 2 casinos have a very similar VIP program if we talk about the amounts bet they ask you to reach each rank, in Stake you reach the Bronze rank with 10k usd bet and in Wolf you reach the Hunter rank with 10k usd bet. in Stake I have a bronze rank and in Wolf I have a hunter rank.
To summarize what I said before, a mature account in a casino is when you are in the VIP program and if you can receive weekly and monthly bonuses it is better.
now I tell you how I get some benefits in BC, Stake and Wolf, In BC I can get benefits with spin, rains and coco, In Stake I can get benefits with weekly and monthly bonuses and in Wolf I get benefits with weekly bonuses, As many people already know, each casino has its way of offering incentives for users, I mean that something that we can find in one casino, it is possible that we will not find it in another, for example in BC you only need 1000 usd of historical wager to receive rains while in Stake you need 3000 usd weekly wager to receive rains, with this example I mean that in BC it is easier to receive rains.
What I mentioned before are the advantages offered by each casino that I use on a regular basis in terms of incentives that they offer to users, now I will tell you how we can take advantage of the issue of betting and this applies to the casinos that I have mentioned as well as to others where you play, I say this because apart from BC, Stake and Wolf I have tried other casinos but in others I have less mature accounts, as many people already know, cryptocurrency casinos offer instant withdrawals and I try to take advantage of this and I will tell you how, it does Approximately 3 days I won 0.25 bcd in BC with the spin and with this I went up to 11 bcd, I changed the 11 bcd for usdt, I made a little wager and sent the 11 usd to Stake, BC charges 1 usdt commission for withdrawals then in Stake I got 10 usdt, I raised the 10 usdt in Stake to 16 usdt and I withdrew this to my bank account to enjoy them at a personal expense.
I know this topic is long but I wanted to tell you about my experience trying to get a little bit of profit from casinos and this is something that works for me, I would like to know if someone applies this to comment and if they have questions I stay tuned to answer.
I think there is really more of an advantage when you have that loyalty perks and experience from gambling sites. I am wondering if that is given depending on the time spent on the website playing, exposure to games, or maybe by the size of capital and widthraws. Because if it is just some program to enter as a VIP and pay for it then it simply means that the casino only cares about the money. I would say with your matured account along with your new ones which you consider immature accounts, I think it's a lot of commission and transaction cost for you to move your funds from one gambling site to another, it's just a breakeven with the bonuses that you are receiving as a VIP member. |
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I have recently read an interesting essay on this topic, but it was already explained it to me a few years ago.
The thesis would consist that, although the probability of winning classical lotteries is near zero (typically between 0.0000007% in the case of Euromillions and 0.000003% in the case of national lotteries), people is willing to pay an excessive overprice because they are buying the right to dream about the possibility of winning.
Although there are extreme cases that get addicted to lotteries, this is quite uncommon if I'm not wrong, because, if you are not paying for the probability but for the possibility, a bet of 1 USD is enough to buy said possibility.
On the other hand, national lotteries are known to be "taxes on ignorance of mathematics", but if these revenues financed public expenses that revert to the common good: would you agree to pay systematically 1 USD more in your annual taxes as something that ensures the right to dream of a dear life of every taxpayer?
Probability deals with the calculable outcome of one scenario happening over another. And that uncertainty is where the excitement comes from. The happening or the experience of winning is one of those possibilities. And the truth is, many people are more than willing to pay for that possibility of one big win in the lottery even if the outcome is not in their favor with a probability of 0.000003%. People are willing to pay for that possibility. Because they know that even with less than a percent, it is still possible for them to win. So let those who want to be a participant of the lottery and not do the systematically 1 USD of annual taxes. |
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I have not tried slots as it is more of a luck game than a skill one. I would never try it in the future too as I am not able to control the outcome of this game. Thinking about not being able to control the outcome makes me more nervous. Rather than losing a good amount of money with slots I would prefer a lottery if it is all about chance. A lot of users of online casinos have now shifted to sports betting as it is easy to understand than poker. In the future, there might be a lot of casinos focusing on skill gambling.
Yes, and it is a game of intuition and probabilities. If you want to last long in this game you must have 2 things. First is a big capital and second is the proper money and risk management. It's tricky but very easy which is also why some and most gamblers went catch to this game. Slots sometimes would make you feel that the casino is tricking or cheating against you but it is not. That is why playing this game requires patience, big capital, and being the person who lasts long in the game. - I agree with what you said that we should only have a budget for slot games so that we can limit ourselves gambling in any casinos online, and in this matter we can also apply control to ourselves. playing slot games.
So these are good reminders that you made it OP for all the players who gamble in this crypto gambling. And this is really what all players should be doing although there are some who don't really do it in reality.
I'd say that a limited budget or a time constraint (I'll play for 20 minutes and then stop) is probably the best way to go have you heard that resisting urges strenghten the moral character? many philosophers in history talked about it Yes, a budget helps to set like a stop loss for daily exposure in the game. So in the long run, it won't turn into an addiction because following your budget with your maximum loss or win for the game will exercise your discipline to follow your gambling budget plan. |
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Gambling if not checked cam lead to a devastating condition for a gambler's life. As a gambler when you allow yourself to be controlled by gambling instinct instead of having control over it, it repercussions doesn't particularly affects only you but goes beyond just you to those around you.
A woman was giving an account of how her gambling husband has been problematic to her with his gambling attitude. She gave an instance of how her husband had to steal her jewelry and sold it to get money to carry on his gambling enterprise. And unsuspecting of her husband the woman accused their come-and-go house-cleaner of making away with her jewelry when the cleaner must have come to the house for her cleaning services that very faithful day. She got the cleaner arrested, but then, investigations where carried out which it was uncovered that the woman's husband was the one who stole her jewelry for gambling and not the cleaner.
It is difficult to grasp or imagined the level of humiliation the innocent cleaner must have faced for an act she knows nothing about.
A question that bothers me concerning this issue is;
1. Do gambling addicts ever take a second thought on what the consequences of their actions can be not just to them but on those close to them?
2. Do they in reality genuinely feel any remorse about how those affected by their actions might be feeling?
3. Or, are they a dispassionate victim of their own uncontrollable addictive gambling lifestyle?
Of course they do. And you call them successful gamblers. They are those who can get profits out of their gambling. In contrary, Those who don't are just losers. Those are the people who gamble because they're addicts, bored, and cannot control themselves. And yes I would say that gambling addicts never take consideration or any second thought on what the consequences of their actions can be not just to them but on those close to them. They just act on something impulsively. They don't know how to embrace risk or even cannot measure the risk they are trying to put in the table. And that's just awful. Not only they are making their own life miserable but also the people around them are being affected of their own addiction. |
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