Trading vs. Hodl - Which group do you belong to?

[Turbartuluk]

The last days i had a closer look to the nigerian local Board and read a lot about the problems of fiat and ways about leveraging the power of the internet and make some "internet money".

I am in trading for quite a long while and asked myself how many of you might earn some extra $$$ with more or less regulary trading? Or at least how many of you are intested in trading?

Does anyone here already have some experience with (own) Trading Bots and writing trading strategies with chatGPT?

I would like to exchange some knowledge and experiences with you.

[Barikui1]

Nothing good comes easy, if I start tell you of my terrible experience I have had in trading, you will definitely ask me what gave me the guts to continue.

I have blown many account in the past which I believe is the hard lesson, but here I am today, I take fewer trade now, I still lose some trades but I still choose trading than holding because that's where the real money is.
I no longer blown my account because I have gone a long way in trying to master the craft, which no matter how the market is bad in a month, I still make something out of it, trading is more of knowledge and knowing how to control your emotions.
I will choose trading over holding, because that's my thing.

[Mate2237]

The last days i had a closer look to the nigerian local Board and read a lot about the problems of fiat and ways about leveraging the power of the internet and make some "internet money".

I am in trading for quite a long while and asked myself how many of you might earn some extra $$$ with more or less regulary trading? Or at least how many of you are intested in trading?

Does anyone here already have some experience with (own) Trading Bots and writing trading strategies with chatGPT?

I would like to exchange some knowledge and experiences with you.

I will make comment base on the topic and not the content because in the topic, you asked if we are for trading or hodling but in the content you only talked about trading. Trading and hodling are all good investment in the cryptocurrency space. If the person is very good in trading, knowing well when to close the open the trade and when to close it them trading is good because it will be giving you daily income to your wallet. But there is no way you will succeeding in the trade everyone. There are sometimes you will also loss so I will prefer taking hodling for a specific years and reap it in the bull market.

Though many people will choose trading over hodling because of the risk involved.

[Dr.Bitcoin_Strange]

Around 2020 and 2021, when I was very active with trading, I did make profits and losses too, although I was not very much of an expert before I took a break due to some other personal stuff. Trading is good, but if you are doing it, let it not just be where you see it as your only source of income; otherwise, you might put emotion into it and want to make profit all the time, and that can cause one to experience more losses.

While trading for a short-term profit, it's wise to have some Bitcoin held in your portfolio because it'll give you more profit if you hold until a bull market. I don't have time to keep analyzing the market and improving my trading skills; that's the reason I just took some breaks.

[Samlucky O]

I am in trading for quite a long while and asked myself how many of you might earn some extra $$$ with more or less regulary trading? Or at least how many of you are intested in trading?

I am not interested in trading. the risk is high and can cause you high blood pressure if it's not going as planned. I think I don't too much fancy trading. Just take a look at this image below👇


Photo collect Google-

[Stepstowealth]

Does anyone here already have some experience with (own) Trading Bots and writing trading strategies with chatGPT?

I am more of a holder than a trader but I like decapm go enter the group of serious traders for naija side. I dey try learn to dey trade from all those bobos wey alredy sabi run the trading matter. The way this our naija economy dey, we need to find ways to make more money especially not in naira and trading na one of them so that we fit dey support ourselves and our family dey go. For people dem wey just dey keep bicoins, e still go well, but trading dey offer opportunity to make more, nor be everybody still need to force themselves enter to dey trade, the matter still nor be for everybody.

[letteredhub]

Does anyone here already have some experience with (own) Trading Bots and writing trading strategies with chatGPT?

I am more of a holder than a trader but I like decapm go enter the group of serious traders for naija side. I dey try learn to dey trade from all those bobos wey alredy sabi run the trading matter. The way this our naija economy dey, we need to find ways to make more money especially not in naira and trading na one of them so that we fit dey support ourselves and our family dey go. For people dem wey just dey keep bicoins, e still go well, but trading dey offer opportunity to make more, nor be everybody still need to force themselves enter to dey trade, the matter still nor be for everybody.

No be lie you talk oh, trading the truly the  give extra stipends for this we Naija hodling alone no go fit do you. Na make if peson see who or wer him go fit learn how to do trading make him no waste time to learn cos you no go fit compare peson wey the do hodling and trading wit peson wey the only do hodling only. Them say trading no be for everybody no mean say if you put eye for ground learn am you no go fit sabi am and do beta wit am. Na were u learn from and hownu learn am nah dey important.

[Roseline492]

I will make comment base on the topic and not the content because in the topic, you asked if we are for trading or hodling but in the content you only talked about trading. Trading and hodling are all good investment in the cryptocurrency space. If the person is very good in trading, knowing well when to close the open the trade and when to close it them trading is good because it will be giving you daily income to your wallet. But there is no way you will succeeding in the trade everyone.

Yes you are correct trading and holding are both very good but the need for knowledge is what Distinguishes the two because trading is not just something to rush into because it requires a lot of knowledge learning and developing a strategy that will be well suitable for him, and also the knowledge to understand the fundamental and being able read the technical analysis of the market because unlike holding the possibility of losing your funds on trading is very high.

However holding doesn't require much knowledge because all he only needs is just the basis, so for me I belong to the group of holding.

[1miau]

I'm not from Nigeria but of course, my answer is: HODL  



I might also link a famous topic here, translated by Chilwell: Trade vs. HODL - avoid traps

It's a great explanation, why trading is so dangerous and we are well advised to stick to HODL.  

Photo collect Google-

You've got a wrong version of that picture because in reality, trading is decreasing our amount of money.  
Trading might be 50 / 50 chance because short-term, price can go up or it can go down (nobody can predict it), but due to trading fees, from every trade a small amount is deducted. So overally, we will lose, in addition to the risk. Of course, sometimes we will make a profit but some times we will also make a loss: statistically, our profit is 50 / 50 and trading fees are causing a loss on top, making it overally a loss.  



While in HODL, we are investing long-term, where we are taking advantage from Bitcoin's fundamentals, like scarcity (21M coins) and Bitcoin serving as a store of value.
It's explained in detail here: Trade vs. HODL - avoid traps

[Promocodeudo]

I will always prefer HODL, despite that no one can predicts the future accurately, bitcoin was meant for HODL, this currency was not created for people to hold for a long term for potentials that may be accompanied with it, but if one wants to go into trading he or she cannot be stopped, trading is not for people who don't study much bout it because it more like the more you look the less you, if you must trade use a little fund so that if you lose it won't affect you much, you might learn from that process, in some cases traders makes money, but you must trade with caution and carefulness.

[Miles2006]

I personal don't have any idea about trading but what have heard about trading it's better to hodl. For example most people trading most especially the newbies they might likely lose there money and I see trading like sportybet infact both of them are competing lol. And secondly why I will choose to hodl, the amount people spend everyday to learn how to trade like paying for tutoral classes only is very expensive. I saw a story on fb where the guy was lamenting that he spent his house rent money just to trade crypto and he could not get his profit back, in this kind situation will the person still choose to trade?
But still yet there are a lot of people earning money from trading crypto, choose what you're good at and choose wisely.

[Mayor of ogba]

Trading is good because it can fetch you a daily income only if you are good with your TA and FA, you can also lose your money in trading because trading is like a gamble, once you make a mistake and lose your money in trading, you will want to recover that money back, and you be chasing your losses and keep on losing more. Through trading, you will miss the real profit. For instance, you can buy Bitcoin at a low price and sell back when the price goes up to make some profit, for you to buy Bitcoin again you will have to wait for the Bitcoin price to retrace so that you will buy at a low again and sell when the price goes up, unfortunately, the price of Bitcoin didn't dump and it kept going up to the extent of were you can not buy it. This is the reason why I'm for hodling Bitcoin because it is through holding you can see the real profit and holding doesn't require you any knowledge of mastering your TA and FA, unlike trading.

[Baki202]

I personal don't have any idea about trading but what have heard about trading it's better to hodl. For example most people trading most especially the newbies they might likely lose there money and I see trading like sportybet infact both of them are competing lol. And secondly why I will choose to hodl, the amount people spend everyday to learn how to trade like paying for tutoral classes only is very expensive. I saw a story on fb where the guy was lamenting that he spent his house rent money just to trade crypto and he could not get his profit back, in this kind situation will the person still choose to trade?
But still yet there are a lot of people earning money from trading crypto, choose what you're good at and choose wisely.

Even when you don't have an idea about trading if you are familiar with the stock market even gold and other valuable assets you go actually know the importance to hold, because if you say you they buy the thing keep and you no sell am better money the thing no make sense at all, because imagine say you buy gold now and you come need money you come they sell am the exact amount of money you buy am to me you sell at lost be that na, na why as newbies anything we no understand make we they asked question, but if we no ask question we go always get problem , and that guy wey use him house rent trade the thing go pain am and him go come they talk bad about bitcoin just because of their experience.

[sokani]

I'd like to trade and hodl Bitcoin but right now I'm just hodling Bitcoin because I lack the required skill sets to go into trading. Recently, I've been having this feeling to try my hands on something I haven't done before. Maybe it's actually time test the waters and I hope I won't be beaten by sharks... I am just kidding.

Someone said "the future are for risk takers." So if you'll hold my hands and guide me down the right path, then I could give it a shot.

[rachael9385]

I no really put my mind for trading Bitcoin because me I see am as another way to gamble, although everyone no be the say as me but I go say if others like trading pass Bitcoin investment then it is good for them because one must do what best for him or her self,,,
If I start to dey trade Bitcoin now I know how I go just dey lose frequently without any assurance say one day I go cash out big from trading.
Well I prefer to use the DCA method to accumulate more Bitcoin because as I start to apply the DCA I no dey "find an difficult to press the but button if I get the money to buy, as I start to apply the DCA method to my investment then I con reduce the amount of money I dey spend monthly so that e no go worry me if I dey accumulate.

[SmartGold01]

I'm not from Nigeria but of course, my answer is: HODL  



I might also link a famous topic here, translated by Chilwell: Trade vs. HODL - avoid traps

It's a great explanation, why trading is so dangerous and we are well advised to stick to HODL.  

Photo collect Google-

You've got a wrong version of that picture because in reality, trading is decreasing our amount of money.  
Trading might be 50 / 50 chance because short-term, price can go up or it can go down (nobody can predict it), but due to trading fees, from every trade a small amount is deducted. So overally, we will lose, in addition to the risk. Of course, sometimes we will make a profit but some times we will also make a loss: statistically, our profit is 50 / 50 and trading fees are causing a loss on top, making it overally a loss.  



While in HODL, we are investing long-term, where we are taking advantage from Bitcoin's fundamentals, like scarcity (21M coins) and Bitcoin serving as a store of value.
It's explained in detail here: Trade vs. HODL - avoid traps

Most people do not understand the meaning of what op is really saying but if it's well comprehended I believe he would have given a clear illustration of what op is trying to say, but however I still stands on the hodl side as you have already explained everything. Holding Bitcoin for Long give a specific amount in return while trading most times can be term as  someone who is trying to gamble with their funds to make additional profits from their already hold funds but the quality for one to be able to manage their funds amicably depends on individual capacity to be able to utilize their trade or even to trade with the right coin from any exchange.

[Antotena]

The last days i had a closer look to the nigerian local Board and read a lot about the problems of fiat and ways about leveraging the power of the internet and make some "internet money".

I am in trading for quite a long while and asked myself how many of you might earn some extra $$$ with more or less regulary trading? Or at least how many of you are intested in trading?

You will only get opinions from people who don't even trade than few people that do the trading. To be honest with you, I'm not too good with trading and there is not shame in admitting that, because of the time needed which I have less, it doesn't bother me much. I prefer to hold with less stress of analysing the market.

What you need in trading is more of technical analysis and the fundamental but sometimes when volatility take over analysis, people forget about technical analysis. What they do is gamble not especially when there is continues increase in price. Solana was pumping some days ago, I was surprised how even people that don't know much about trading bought some without any research and planning on selling at the top.

Does anyone here already have some experience with (own) Trading Bots and writing trading strategies with chatGPT?

I would like to exchange some knowledge and experiences with you.

Anything that is too good to be true, try as much as possible to avoid such things. I'm not saying trading bots doesn't work or ChatGPT. These bots are program by someone and if indeed they are making $$ everyday, there algorithm will never come public for one day, they will keep the money to themselves and never for once talk about it. However, I learned they profitable in bull run which might come later after halving.

[Sim_card]

Trading is good but very risky and it is time consuming and can be affected by emotions. It is better that before you go into trading, you should have acquired a good amount of bitcoin in your custody. The reason why I said this is for those people that thinks they must trade, instead of buying your bitcoin because you want to trade. Most people that goes into trading is because of greed, they feel that they can use trading to accumulate more bitcoin for themselves which they end up losing the little that they have. I am a hodler and a long term hodler because I have a bitcoin target which I am more focused on to achieve. Hodling of bitcoin has a great advantage over trading, this is because hodlers are investors and investment is something that yields good profit after a given period of time. While traders are only after their daily bread. This is why I chose to invest and hodli bitcoin as my investment to be financial buoyant in the future, rather than trying to gambling with my bitcoin through trading when it is hard to predict the price movement of bitcoin. I see trading as a waste of time from my own end.

[Agbe]

Both of them are good and I will like to do the two. Why I like the tow be say, trading is something that can give you money instant if you can trade well and investment is a long term something which you will be hodling for years before the profit will come. And within this period you eat, you will pay your bills and do other expenses so if you rely only on hodling they you go see sege be dat. So if anyone can do trading make im no leave am and invest only on bitcoin and be hodling do oda things to support yourself. Even di hodling if you use small money even the bull market na small profit you go get but if na big money then u go reap big one. But if u say make we select only one then I go select hodling with big amount.

[Turbartuluk]

Thank you all for your feedback.

To be honest i just made that poll to see how big the interest in trading is here right now. The german board has a strong hodl group.

I wrote a lot of trading articles over there about:
- how to calculate common TA indicators as a basis to create own ones
- how to set up simple 24/7 trading infrastructure with an HDMI Stick PC (like Intel Compute Stick) + TV
- how to automate Trades via Tradingview + Autoview + Kraken or just Tradingview + Binance
- how to let ChatGPT write code for some own Bots -> e.g. DCA-Bot
- how to backtest a strategy to find out if its a good one or not
- how to setup an arbitrage strategy
- how to discuss trading strategies without revealing to much details (if strategy is not scalable in volume)

Even when i offered a kind of contest, were i provided trading infrastructure and cash to test strategies without any risk for participants the attendance was very lame.

Afterwards i gave the international trading board a look, but it seems to be very superficial and flooded by spam.

While having a look at the nigerian board and the local economic difficulties described here i thought this could be a match due to complementary circumstances. The idea in my back of head was to form a (small) group of trading enthusiasts to create a bunch of different trading strategies together and profit from each others strategies.
But right now i don't know on which basis i could build on, how much "training" would be neccessary and if it would be worth the effort.

If you would be interested in such a group, just take part in the poll. All but the first group are interesting to me.