A day in the life of a Bitcoin Trader

[BobBct]

A trader is confident and ready to take risk and know what to do when loosing money, because without this traits a trader will be very unbalance and scared to trade again.

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[1715074055]

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[TwoSigm4]

Just love it.
I could gain lots now.

It is just fun.
I am having a fun day as trader now.

[Osarman]

I give myself a sample. it really gets very tiring. Particularly short-term trade leads me to make a lot of effort, and I made too many mistakes, so I could not think well. I put a limit of 6 hours a day.

Every day of a trader is the most important day from the last day because while in trading the major element is the price of goods which are used for trading so if a trader miss any of the day in the routing which is the routing of trading then he may be miss a great opportunity of getting a pretty big profit from their trade because prices of most goods are change in the market day by day.

[Nonakryse]

A bitcoins traders life is similar to an FX traders life.. stressful. Honestly unless you have what it takes, I'd recommend not to get involved in too much trading. You can have sleepless nights and anxiety attacks if your living depends on this, which not everyone can take. The good things about BTC traders in contrast to FX traders, is that BTC is trading 24/7, so hooray! You can stress yourselves 24/7 instead of 24/5 (FX market is open from Monday to Friday)

[crazycatwoman03]

A trader is confident and ready to take risk and know what to do when loosing money, because without this traits a trader will be very unbalance and scared to trade again.

A person who considers himself as a trader knows how big the risk is when it comes to trading. Other people thinks that, we, traders are only doing exchanges. They don't see that before the profit is gained, a trader goes to bed without the assurance that their money will be processed over the night and will gain the target profit. I have been trading since I first got my money from the first altcoin campaign I have joined and I assure that as someone who does trading, there is no guarantee when it comes here. You will put your money at risk hoping that  a profit will be gained, monitoring the price is also stressful because of the volatility, a sudden change in the equivalent prices means so much and if you have made a wrong move I am sure that you will be restless because of thinking about the profit.

[Nasty23]

I give myself a sample. it really gets very tiring. Particularly short-term trade leads me to make a lot of effort, and I made too many mistakes, so I could not think well. I put a limit of 6 hours a day.

Every day of a trader is the most important day from the last day because while in trading the major element is the price of goods which are used for trading so if a trader miss any of the day in the routing which is the routing of trading then he may be miss a great opportunity of getting a pretty big profit from their trade because prices of most goods are change in the market day by day.

Yes the prices are changes everyday because the demand is always there in the market and it can give a good​ profit to the​ day trader. Trading bitcoin is also a risk but more profitable if you know all the methods in trading and make your own strategies to overcome every problems in trading. Experiencing mistakes in trading is just a part of a big opportunity because it helps you to make a better strategies and also earn a good profit.

[rebel92]

Well, since I am still new to trading. Traded for about a year now I first lost some btc but after that I made a good bit. I am definitely ready for the next bull run since I learned so much. I'd say don't wait and really start trading it to learn and you will get better at it.

[fullhdpixel]

I'm sure it can be very stressful to become a bitcoin trader, especially with the huge fluctuation in price.

Loss and win is a part of game and trading is nothing but it’s a game and a person who wants to be a good trader he must have ability to control their itself in both condition weather he has a loss or profit. So every moment is different for trader from the previous moment because of changing price in the market due to which every moment is stressful from the previous moment.

[Renzyp]

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[tranle789]

To become a real trader, you need a lot of time to understand the market psychology because every transaction you have to consider carefully because just a little mistake. Your property can be reduced by 20% immediately

[JayJuanGee]

To become a real trader, you need a lot of time to understand the market psychology because every transaction you have to consider carefully because just a little mistake. Your property can be reduced by 20% immediately

That is  bullshit.

Surely you can trade in the way that you describe; however, on the other hand, you can create a system and follow the system and tweak the system to ensure that it is profitable.

One of the best systems is to buy as the price goes down and to sell as the price goes up.  The trick is to figure out your increments in order to be profitable and not to gamble with your strategy and if you do gamble to only use a small amount of your total proceeds for gambling plays.


Edit: My criticism of your post relates to your seeming suggestion that there is a kind of "real trader," and implications that trading strategies are limited. 

On the other hand, I do agree with any point that you make that if you don't know what you are doing, and if you get too greedy, gamble too much or bet in only one direction, then you can lose a lot of your stash in a short period of time, especially if you engage in leverage trading (aka margin trading).

Further, like pearlmen says above, a decent strategy for anyone who does not know is to practice and to learn with relatively small amounts of money.  Of course the more bullish you are about bitcoin, then the more you will engage in a BTC accumulation strategy, and the less bullish you are about it, then you will try to use it to accumulate more cash - and either strategy can work - and so sometimes going through the trading process will cause you to tweak a bit here or there because your bearish/bullish sentiments change with the passage of time, market momentum and events (news). 

Finally, a point that I am attempting to make, here, is that if you set up your strategy to extract value in either price  direction, then you don't even have to be correct about predicting the market or even attempt to engage in any kind of meaningful prediction of the BTC price direction - even though you might set your trading strategy up in such a way that you are more profitable from one BTC price direction (the one you are predicting) as compared with the opposite BTC price direction (the direction that you are predicting not to happen).
 

[pearlmen]

Define "Trader" for me, Please.
I am a newbie and have bought stocks for over 50 years.  I am excited to buy my first bitcoin, but the old school concept of buy and hold kicks in so where does the "Trade" part kick in?  Can you give me a step by step, "A day in the life of a Bitcoin Trader". ie - I set up an account with the Coinbase Exchange and then to stay in sync, I registered for a Coinbase wallet and then bought a Ledger Nano S for security and only then tentitively bought $50 worth of Bitcoin from a Bitcoin ATM machine at the Exxon Gas Station at the corner of Alpha and Beta in downtown Chicago.  I held up my iphone to the QR code on the screen and my Bitcoin software grabbed the encryption code ....  well you get the idea.  I need a step by step primer as to what the "Trader" does to Trade.  Thanks for reading. 

I posted this on another subject, so please excuse me if it is cross-posted.  D

You probably know the right information steps to go about trading but one key thing is that, you don't just jump into it without understanding what  its about because a lot of times when people jump into trading, they ended up making money for the experts in the field. What I would suggest is to take the next few weeks in studying the market, understand the trend then try starting out small before going fully into bitcoin. There is no doubt it might be discouraging but don't give up is what matter.

[yrreg ger]

To become a real trader, you need a lot of time to understand the market psychology because every transaction you have to consider carefully because just a little mistake. Your property can be reduced by 20% immediately

Sadly, I lost possible 50% once after panicking when the bitcoin's price dumps. I thought that bitcoin will not rise again that easy so I decided to sell some of my coins. The worst is that I also loss half of possible profit when I was trading my coins into bitcoin. The life of a trader is not easy, many people would think that a trader is rich, just waits and he has no problem in money. A trader sleeps thinking about his trades and wakes up thinking about it again, sometimes would not sleep good due to thinking of his money that is at processed.