An example of how NOT to trade

[pandacoin]

That's the best plan. If we have more than 1m $ bitcoins we can spend them wherever we want. I really want to be wealthy elite.

[btcton]

This makes me wonder, where do you people learn how to trade? Do you just know from experience?

[ranlo]

It will be easier if you don't check the price every day.
Instead only check the price once a month if you really consider this as a long term investment.

Or give up on trading altogether, keep yourself in a safe position, and just ignore the prices and realize that, over time, they are increasing. They will drop of course, but they keep going back up to above where they were (excluding our ATH last year, but I'm sure we're going to go far beyond that).

[bitsmichel]

It will be easier if you don't check the price every day.
Instead only check the price once a month if you really consider this as a long term investment.

Follow this advice. If you check price and trade every day, you will lose money because of fees etc; If you want to make profit trading, trade on a longer period (2 week - month)

[peperapijames]

thank you for the info!!!!reallly helpful

[bananas]

This makes me wonder, where do you people learn how to trade? Do you just know from experience?

I do analyze the history and take my own conclusions, bitcoin has been reasonably predictable to me.
Historically if a bottom price repeats a few times it wil never go lower than that and will repeat a few more times, so you buy when it reaches such bottom and of course do not sell. There are transition times where the bottom will increase, it is not predictable and is the period you can miss opportunities.

[picolo]

This makes me wonder, where do you people learn how to trade? Do you just know from experience?

I do analyze the history and take my own conclusions, bitcoin has been reasonably predictable to me.
Historically if a bottom price repeats a few times it wil never go lower than that and will repeat a few more times, so you buy when it reaches such bottom and of course do not sell. There are transition times where the bottom will increase, it is not predictable and is the period you can miss opportunities.

It is good to have your own view of the price variation but you can't know when it is the bottom you are talking about

[ranlo]

This makes me wonder, where do you people learn how to trade? Do you just know from experience?

I do analyze the history and take my own conclusions, bitcoin has been reasonably predictable to me.
Historically if a bottom price repeats a few times it wil never go lower than that and will repeat a few more times, so you buy when it reaches such bottom and of course do not sell. There are transition times where the bottom will increase, it is not predictable and is the period you can miss opportunities.

It is good to have your own view of the price variation but you can't know when it is the bottom you are talking about

You really don't need to know when the absolute bottom is; just be sure you buy at a price that's lower than it will become, . That's how you profit.

[Benjig]

This makes me wonder, where do you people learn how to trade? Do you just know from experience?

Yes one of the best school is experience, you can know how each analysis works, you can know when to enter the market and much more but if you cant hold your position in an adverse situation and you get weakhand , you wont win ..

[Candystripes]

Big clap for this thread 

[BitZCoin]

There's so much truth in this picture.