New to bitcoin Need some advice!

[Febo]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

LOL

Buy what you can afford to lose. When you have some amount buy a  hardware wallet and store there. Keep on buying every month no matter what price is. 10 years from now BTC at $1000 , $3000 or $10000 will look same. Just instead of using money for cigarettes and coffee put it in BTC and crypto.
Dont play with it and sell and buy and sell and buy since you will sooner or latter lose it. Go to casino to gamble not on crypto exchanges. You most likely have higher chances to win Jackpot there.

Important is that you own some crypto. Good is that you also read and learn and try to understand it. It is never ending project. Biggest risk nowadays you take to totally ignoring Crypto.

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[aTriz]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

Right now, in this phase of bitcoin, the strategy of “buy low, sell high” is riskier than usual. Since we are just recovering from a drop in price, no one knows what will happen next.
 
What I suggest is storing most of your bitcoin, maybe around 80% to 90% and use the rest to trade. When bitcoin drops, which it will eventually, It won’t be a bad idea to buy a bit there and there and keep storing it. Don’t invest or trade what you can not lose.
 
One tip I will give you, never sell when the price just dropped, I would definitely wait for it to go back up since as history shows it, bitcoin always recovers from a big drop.
 
And one more thing, never invest your life saving into bitcoin, way too risky and you could lose too much, only invest/trade what you are willing to lose.
 
Good luck!

[socks435]

I think better to learn how to analyze the movement of the price of bitcoin you can try to use this tool for free bitcoinwisdom.com
it can give you different movement of the price in different exchage site.
The good thing of that tool they have a free tools like draw a line for updated chart and movement of the price.
just pick what you want a good margin.. just always do a timing when the price is dropping or crash just buy bitcoin and sell if the price hit your own margin.
That's it make a 4 tier different margin from 10% increase to 50% increase and sell them if hits that value and if not if the price of bitcoin keeps down just buy bitcoin and do a new tier for that lowest amount to make a profit.

[Taskford]

Oh friend i hope you arent playing with your life savings.
If yes you will be a poor person soon.

Yes I will second that. Never go on buying bitcoin will all your life savings, even if you are just going to hold, Bitcoin in itself is a gamble. Well honestly you got into trading blindly without researching enough, Bitcoin trading is just like trading stocks you need to be expert in it to make a profit or you will always suffer a loss.

Well, he already said that its not his life savings, he gotta have a lot of money. 
It sounds like to him that he's always have panic in selling when coins fall.
That's already a problem. Next, trading without proper knowledge in what you're doing is
also a big mistake. I mean like in everything we do just have readings in what are the pros
and cons. Better to feed yourself of information before going to war.
What you lose is a big amount which can help poor and starving people.
Just my opinion.

[sailman]

I bought back in when it was 2588, but by the time it executed, it was 2614.  I waited a week before I bought in again just to watch.  And then it sunk to 2423.  But I didn't panic.  Now its back up again and my plan is to sell at 2670 or so if it gets that high and then wait again and buy in when (if) it gets around 2400 again.  Then hold. I'm not going to sell for a loss again.   

[Casdinyard]

It sound's like you put thousands of dollars of your local currency into crypto without doing any research at all. No matter what you invest in this is a very poor decision.

To be in higher rank, please direct newbies about bitcoin investment method and right way of move in that. He can search many threads available in the beginners and help section. I suggest to on trading or in ethreum based smart contracts. These are fame and trusted way of invest in the bitcoin platform nowadays.

You're very kind sir. That's the right way. Well im still a newbie technically so someone told me go to beginners and help section and I knew what should I need to know.

Well I can say when you start trading do a lot of research before anything else. Reading is always the answer. For you not to regret it in the end.

[itsallpc]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

Ha ha.You had the same experiences which a newbie would have.Don't get scared.First you should have tried to understand about bitcoin's volatile nature due to its decentralization and should have studied its price movements.But you have not done that and have just invested in btc to get some extra profits.First,you should know that bitcoin is not a short term asset and bitcoin investment should be made in long term basis to get huge profits.If you had made your investment in such long term  basis,then you would have not got distiurbed by the price fluctuations.So better invest in bitcoin with an idea of holding for atleast six months.Better luck next time.

[pitiflin]

Bitcoin involves a lot of risk and you must have the knowledge about it before you invest. My advice to you is that don't get scared and freaked out when the price becomes low than your investment, rather invest furthermore when the price is low, then when the price gets higher than your investment, sell your Bitcoin at the price at which you think you would get a good profit from your investment.

[duke944]

I bought back in when it was 2588, but by the time it executed, it was 2614.  I waited a week before I bought in again just to watch.  And then it sunk to 2423.  But I didn't panic.  Now its back up again and my plan is to sell at 2670 or so if it gets that high and then wait again and buy in when (if) it gets around 2400 again.  Then hold. I'm not going to sell for a loss again.  

"I'm not going to sell for a loss again." Lmfao.
If it dipped below $2000 it would feel like somebody cranking your arm behind your back. The lower it goes the more you would be likely to panic sell, which you would do if it really crashed.
The problem is you are holding coin bought at current prices, instead of holding coin bought below $500 or even better yet profit coins. Playing in todays prices would be extremely hard, I know I couldn't do it.
Best thing I could suggest is either sell and wait for a big crash and buy in then, hold and don't watch the price - just assume your money is gone and look at it in a year or so, or hold and try to find a shitcoin you can make btc with. Just trading btc is way too hard for anybody buying for the first time with today's prices.

[linkme]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

Yeah trading with the thought "buy low, sell high" is risky, people who are trading have their own method to know when they should buy or sell and they do have strategies to cover their original investments.

[Paulyr]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

Nice to hear that, trading is basically buy low sell high but the hard things is to find out the right time to buy and sell, if you choose wrong, you will lose your money.

[sailman]

So with bitcoin going down my value is sinking too. Maybe this is because of the August event.  My bitc is still on the exchange (coinbase) because I was trading. So should I get say a trezor and put it in cold storage, or should I wait till it raises ( if it does) and then do it?  Or not bother?  If the value of my coin dropped from $2600 to $2400, will I lose by taking it offline when low or does the % relative to the market stay the same?  Example, is a half a btc a half a btc no matter what the price is?  Thanks.

[HasHe]

Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

You have tried to do short term trading which is suitable for altcoin market.Only long term trading is best for bitcoin trading.If you had invested in bitcoin on a long term basis,then you would have not suffered such a loss.So take it as a lesson and invest in bitcoin on a long term basis here after.