I quit trading

[Ceizer54]

As you are saying you have already withdrawn your 40 bitcoin,i will say save them for future use or spend it on something you like or want..If you have not withdrawn the 40 bitcoins then my advice would be to store them in offline wallet and wait till the price will go up (it sure will in coming days ) and then withdraw it.i am pretty sure you could have got a nice profit by doing that

[1714156922]

1714156922

[1714156922]

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[1714156922]

1714156922

[knowhow]

i wanted to become a trader.one of my friend nearly convinced me to quit my engineering and become a day trader.i opened a demo account at fxcm did very good there, then i started trading on secondstrade and i am in a debt.

giving up to job/school for trading is a pure gamble, you should nopt do it ever, it require to have a good experience before doing anything

and i would suggest to start with a small amount to try how the thing work, don't bother in any other case

Never stop investing at yourself,left the school is the worse mistake ,and even worse when you try a demo trading and wow i had made 5 btc in one wee i can live from this insteasd study and work.I dont remember demos,that makes you loose money,forex has those demos and usually you lost 5000 and earn 50000 ,soo they create an ilusion to atract new investors,then the reality comes and strike,as mentioned above you should start with some ammount and trade test with them,if you lucky you can keep making it and studying.

[Leinaded]

Well is one of the first persons that says his results and well into 2 years is something to show that exchange turn into a loss as well not soo easy to profit,and yes without time to make your positions is hard to profit ,looks you must look for other feature besides exchange .

I started with around 1.7 BTC in January, and by June I had about 8 BTC, 90% of which came from trading Doge:BTC pair. Since it was all manual and rather exhausting, I switched to automatic trading (and to BTC:USD pair), earned (and learned) something, and right now I'm developing two bots, one for a fiat exchange (it is already bringing in profits) and another for arbitrage on BTC exchanges (still in the works). Autotrading at one exchange hasn't been very profitable recently (not enough volatility, wtf)...

I'm aiming at 1% daily (as a minimum)

Well with Doge it's been really difficult to make a profit since it has had long downtrends and very short and abrupt bullish moves. I suppose you picked the May peak in price but imho I consider risky to have 90% of your profits in only one crypto but I admit I'm in the same situation, recently I've picked a crypto where I've invested heavily and for now it has given me nice profits but I've been trading only for two months.

What I miss the most in exchanges is more indicators since in Cryptsy, where I'm trading, you only have volume and japanese candles and Bitcoinwisdom only has a couple of altcoins. I imagine you must be programming all your indicators manually on your bots or do you pick them from some website API?

[deisik]

Well is one of the first persons that says his results and well into 2 years is something to show that exchange turn into a loss as well not soo easy to profit,and yes without time to make your positions is hard to profit ,looks you must look for other feature besides exchange .

I started with around 1.7 BTC in January, and by June I had about 8 BTC, 90% of which came from trading Doge:BTC pair. Since it was all manual and rather exhausting, I switched to automatic trading (and to BTC:USD pair), earned (and learned) something, and right now I'm developing two bots, one for a fiat exchange (it is already bringing in profits) and another for arbitrage on BTC exchanges (still in the works). Autotrading at one exchange hasn't been very profitable recently (not enough volatility, wtf)...

I'm aiming at 1% daily (as a minimum)

Well with Doge it's been really difficult to make a profit since it has had long downtrends and very short and abrupt bullish moves. I suppose you picked the May peak in price but imho I consider risky to have 90% of your profits in only one crypto but I admit I'm in the same situation, recently I've picked a crypto where I've invested heavily and for now it has given me nice profits but I've been trading only for two months

Not at all. In fact, I earned most when doge had been collapsing in March-April down to 36-37. Dogecoin is very awarding whether it falls or grows, if you know its ways, of course (it is just heavy on the CVS, lol). The only time I suffered significant loss was in February, but that was not due to trading, wtf. Back then I had been trading at Bter, and I had all of my deposit in doges (about 3.5 BTC at the time), which I bought at 59. Right after that (just a few hours later) Bter got hacked, and I got my funds frozen there. A few days later the price was at 61-62 everywhere, which would have given me 4-5% of profit. When in March I was finally able to withdraw my deposit, the price had fallen to 50-51...

That issue confirmed my prior decision not to buy crypto with fiat

[BitMaxz]

Try make your own bussness like a faucet site or gambling site or any site that can get some profit to your coins.... dont try invest to any site like coinsera and scrypt.cc

[data1]

wow thats a lot of money at least for me and some other newbies here  anyways as you said you don't have sufficaint time  to give on this kind of things then simple use those funds either to make a gambling site or just use it to develop any kind of apps but something uniquely designed and with totally a cool concept almest like crytocurrency it will be good if you accept cryptocurrencys in it too

[Mickeyb]

Try make your own bussness like a faucet site or gambling site or any site that can get some profit to your coins.... dont try invest to any site like coinsera and scrypt.cc

This will work. This is a sound investment. Gambling sites make ton of money but there is a lot of competition. Faucet owners make nice money as well.

Of course you have to know how to build one of those or pay someone if you don't know how to do so. You also need to know how to operate these sites. But now I have noticed that some people even hire people that run these sites for them. In this case your earnings will decrease considerably.

[kyrios_]

Well is one of the first persons that says his results and well into 2 years is something to show that exchange turn into a loss as well not soo easy to profit,and yes without time to make your positions is hard to profit ,looks you must look for other feature besides exchange .

I started with around 1.7 BTC in January, and by June I had about 8 BTC, 90% of which came from trading Doge:BTC pair. Since it was all manual and rather exhausting, I switched to automatic trading (and to BTC:USD pair), earned (and learned) something, and right now I'm developing two bots, one for a fiat exchange (it is already bringing in profits) and another for arbitrage on BTC exchanges (still in the works). Autotrading at one exchange hasn't been very profitable recently (not enough volatility, wtf)...

I'm aiming at 1% daily (as a minimum)

Well with Doge it's been really difficult to make a profit since it has had long downtrends and very short and abrupt bullish moves. I suppose you picked the May peak in price but imho I consider risky to have 90% of your profits in only one crypto but I admit I'm in the same situation, recently I've picked a crypto where I've invested heavily and for now it has given me nice profits but I've been trading only for two months

Not at all. In fact, I earned most when doge had been collapsing in March-April down to 36-37. Dogecoin is very awarding whether it falls or grows, if you know its ways, of course (it is just heavy on the CVS, lol). The only time I suffered significant loss was in February, but that was not due to trading, wtf. Back then I had been trading at Bter, and I had all of my deposit in doges (about 3.5 BTC at the time), which I bought at 59. Right after that (just a few hours later) Bter got hacked, and I got my funds frozen there. A few days later the price was at 61-62 everywhere, which would have given me 4-5% of profit. When in March I was finally able to withdraw my deposit, the price had fallen to 50-51...

That issue confirmed my prior decision not to buy crypto with fiat

any tips for a newbie?

[coaltin]

I would rather advice you to invest rather than trading.Right investment choice is for long term unlike shot term trade gains

[deisik]

Not at all. In fact, I earned most when doge had been collapsing in March-April down to 36-37. Dogecoin is very awarding whether it falls or grows, if you know its ways, of course (it is just heavy on the CVS, lol). The only time I suffered significant loss was in February, but that was not due to trading, wtf. Back then I had been trading at Bter, and I had all of my deposit in doges (about 3.5 BTC at the time), which I bought at 59. Right after that (just a few hours later) Bter got hacked, and I got my funds frozen there. A few days later the price was at 61-62 everywhere, which would have given me 4-5% of profit. When in March I was finally able to withdraw my deposit, the price had fallen to 50-51...

That issue confirmed my prior decision not to buy crypto with fiat

any tips for a newbie?

1) Don't get married to a position
2) Trade a pair which is (most) mood-invariant to you

The first naturally stems from the second

[Velkro]

Deposited: 47BTC (roughly)

Withdrew: 40BTC (roughly)

Congratulations for admiting failure. Not many people are able to do that. They only report gains, but never losses.
Good luck in future investements.

[neochiny]

what do you mean what would you do to your money?
and did you quit now because you lost 7 btc for 2 years?
or just because you dont have time for it now?
im studyng about trading , but im still new to it.
and im hoping to get some information, or lesson that i can learn,
since you are already 2 years from it.
or if you will say that its more loses than win.then il just stop this.

[Leinaded]

Not at all. In fact, I earned most when doge had been collapsing in March-April down to 36-37. Dogecoin is very awarding whether it falls or grows, if you know its ways, of course (it is just heavy on the CVS, lol). The only time I suffered significant loss was in February, but that was not due to trading, wtf. Back then I had been trading at Bter, and I had all of my deposit in doges (about 3.5 BTC at the time), which I bought at 59. Right after that (just a few hours later) Bter got hacked, and I got my funds frozen there. A few days later the price was at 61-62 everywhere, which would have given me 4-5% of profit. When in March I was finally able to withdraw my deposit, the price had fallen to 50-51...

That issue confirmed my prior decision not to buy crypto with fiat

So you can go short with Doge? In what exchange? I only know about BTC & LTC with Bitfinex. 
Being in Cryptsy I can only take long positions which sucks because the number of altcoins in a downtrend is higher.

[deisik]

Not at all. In fact, I earned most when doge had been collapsing in March-April down to 36-37. Dogecoin is very awarding whether it falls or grows, if you know its ways, of course (it is just heavy on the CVS, lol). The only time I suffered significant loss was in February, but that was not due to trading, wtf. Back then I had been trading at Bter, and I had all of my deposit in doges (about 3.5 BTC at the time), which I bought at 59. Right after that (just a few hours later) Bter got hacked, and I got my funds frozen there. A few days later the price was at 61-62 everywhere, which would have given me 4-5% of profit. When in March I was finally able to withdraw my deposit, the price had fallen to 50-51...

That issue confirmed my prior decision not to buy crypto with fiat

So you can go short with Doge? In what exchange? I only know about BTC & LTC with Bitfinex. 
Being in Cryptsy I can only take long positions which sucks because the number of altcoins in a downtrend is higher.

If I'm not mistaken, at Poloniex you can borrow doges (sell high, buy low). I looked into this, but didn't actually try it out...

[thejaytiesto]

Try make your own bussness like a faucet site or gambling site or any site that can get some profit to your coins.... dont try invest to any site like coinsera and scrypt.cc

This will work. This is a sound investment. Gambling sites make ton of money but there is a lot of competition. Faucet owners make nice money as well.

Of course you have to know how to build one of those or pay someone if you don't know how to do so. You also need to know how to operate these sites. But now I have noticed that some people even hire people that run these sites for them. In this case your earnings will decrease considerably.

I wonder what makes a faucet site be successful besides marketing? I mean all faucet sites are pretty much as far as I know, sometimes they are just direct ripoffs with different layouts and that's all. What makes a good faucet website at all? And I wonder for how long a faucet site can be profitable, consider that people may get tired of your site and go to another one, or the price may make the sites less or more populated and so on.

[knowhow]

There is always a new faucet coming live,the difference between then is no pop ups,just some 4 or 6 banners ads and a good revenue ,like 1000satoshis hour,people liking more this one these days even claiming once a day or 2 times a day,and well low payout,but the sucess depends on the support made by the costumers,otherwise will steall btc from one to several and only that.

I guess this is the first person that says that had losted money at trading,and we all know some win and others loose,the pump and dump make always both positions,i had losted 0.10 btc trading at one currency ,were new at it now im away of trading a bit,making wise investments now.

[Mickeyb]

Try make your own bussness like a faucet site or gambling site or any site that can get some profit to your coins.... dont try invest to any site like coinsera and scrypt.cc

This will work. This is a sound investment. Gambling sites make ton of money but there is a lot of competition. Faucet owners make nice money as well.

Of course you have to know how to build one of those or pay someone if you don't know how to do so. You also need to know how to operate these sites. But now I have noticed that some people even hire people that run these sites for them. In this case your earnings will decrease considerably.

I wonder what makes a faucet site be successful besides marketing? I mean all faucet sites are pretty much as far as I know, sometimes they are just direct ripoffs with different layouts and that's all. What makes a good faucet website at all? And I wonder for how long a faucet site can be profitable, consider that people may get tired of your site and go to another one, or the price may make the sites less or more populated and so on.

For faucet to be profitable you need a lot of traffic and a lot of hits from the users. That's how you get paid as the owner marketing wise from the banners and ads.

For people to come back to your faucet, you need to pay decent rates (a bit higher than your competitors) and you need to keep paying them. The problem I guess is that faucet owners get greedy so they start decreasing rates and stop paying.

All of this above I am talking about from the top of my head. Just using a business logic.

[neonshium]

Many people simply quit trading just after some losses in trading.
It's not a wise decisions. Trading has paid any trader on their early days. It needs lot of dedications as well as skill development to gain some decent returns. So, you need experience to be a successful trader.

[coinplus]

Many people simply quit trading just after some losses in trading.
It's not a wise decisions. Trading has paid any trader on their early days. It needs lot of dedications as well as skill development to gain some decent returns. So, you need experience to be a successful trader.

That's the real situation with many novice traders. Trading is always risky. But we can turn trading into profitable way in for just focus our dedication towards trading. Unless with proper education and dedication no one can gain profit from any type of trading.

[dre1982]

Try make your own bussness like a faucet site or gambling site or any site that can get some profit to your coins.... dont try invest to any site like coinsera and scrypt.cc

This will work. This is a sound investment. Gambling sites make ton of money but there is a lot of competition. Faucet owners make nice money as well.

Of course you have to know how to build one of those or pay someone if you don't know how to do so. You also need to know how to operate these sites. But now I have noticed that some people even hire people that run these sites for them. In this case your earnings will decrease considerably.

I wonder what makes a faucet site be successful besides marketing? I mean all faucet sites are pretty much as far as I know, sometimes they are just direct ripoffs with different layouts and that's all. What makes a good faucet website at all? And I wonder for how long a faucet site can be profitable, consider that people may get tired of your site and go to another one, or the price may make the sites less or more populated and so on.

For faucet to be profitable you need a lot of traffic and a lot of hits from the users. That's how you get paid as the owner marketing wise from the banners and ads.

For people to come back to your faucet, you need to pay decent rates (a bit higher than your competitors) and you need to keep paying them. The problem I guess is that faucet owners get greedy so they start decreasing rates and stop paying.

All of this above I am talking about from the top of my head. Just using a business logic.

OP should better make a gamble site then a faucet. The most faucet site don't make any profit. They just costs money. The most people just come there to scrap some free money without even clicking on any ads. That's why you see more and more faucet sites disappear.