How to resist trading

[dadach]

So I see some people around me, that seem to be able to find an altcoin that it brings them 5-20% increase in btc. How to resist not to put everything on an exchange and do the same? I did try a couple of times, but failed to make any profit. Should I be ok to just hold and put around 10% of my salary into BTC each month? Also, should I hold some alts or only BTC longterm?

thanks for the input

[Lucius]

So I see some people around me, that seem to be able to find an altcoin that it brings them 5-20% increase in btc. How to resist not to put everything on an exchange and do the same? I did try a couple of times, but failed to make any profit. Should I be ok to just hold and put around 10% of my salary into BTC each month? Also, should I hold some alts or only BTC longterm?

thanks for the input

Trading with cryptocoins is very risky business,but sometimes very profitable and people are very easy to get hooked on it,especially if they have success in the initial stages of trading.But as you say it is not easy to find altcoin which has the potential for growth,many come quickly and even faster disappear.If you want to be successful in trading you have to be in that one hundred percent,check altcoins section daily,read and learn how to recognize right opportunity.

Like you say trading is not for everyone and your plan is actually very good and can make you very nice profit.In addition to BTC which is the most promising coin it is hard to say which coin is suitable for longer investment,maybe ETH or LTC.

[valentin68]

I am a 6 years old trader. I was making more profit at the begining than I am making now. I never made in trading more than 130 USD since I begun trading. I read somewhere that 5% of traders win BIG and 5% of traders losse BIG. This is named in statistics (math or physics) the Gaussian. To earn big money some other person has to loose big money, and I can tell you that when you loose big you regret.
 Stay away from trading. Even 10% of your daily salary invested in bitcoin is too much a loss, if the bitcoin price will crash in the next 10-20 years.

Let's say you can invest 2000-3000 USD in bitcoin now (from your salary) and that the bitcoin pricce will grow until 1 million in 10-15 years. You will have 300 000-600 000 USD. Isn't this sufficient as earning? A villa in Italy on the seaside has this price.
 

[SUDARMONO]

it's a good idea if you leave some of your work to invest in bitcoin, bitcoin is a very high risk business but will also bring financial freedom if you succeed, you have to learn a lot about chart movement and also often have to read news about things that can affect the bitcoin price, you'd better buy bitcoin then put it and hold it until the price goes up in altcoin with a potentially good potent coin coin, like ETH, DOGE, DGB, XRP, never be afraid to do things that can affect life changes for ahead of you, I am sure you can succeed in bitcoin world.

[fulmetal08larz]

In my opinion, setting aside 10% of your salary in bitcoin is a good strategy and investing on some altcoins and holding it is good as well because we will never know when will the rise and fall of both altcoins and bitcoin's price but there are signs, if you study and learn the trend well, you should be able to ride with the whales and come up with new strategies along the way and learn from your mistakes then use it as a tool to be better in the next few days, months and years. Time is your friend when it comes to investment. Diversification of your funds is also good.

[pawanjain]

Trading crypto currencies is as easy as buying a pizza but making good amount of profit from it it the tougher part. Surviving the losses is even more tough. I know it must be hard to resist trading as everybody wants to make some money but we have to beware of the fact that luck doesn't favor us all the time. One wrong decision can make you lose all your money and that is why we must have the control to trade in a limited quantity.
Earn from trading but never make it a habit.

[dadach]

alright, thank you for some good advice!

[Lieldoryn]

If a person has no interest and ability to trade coins on the market it is better not to do it. It seems to me that the strategy is hold bitcoin for you will be more acceptable. You are guaranteed to make savings protected from inflation and have shown a steady growth in price.

[illusioNiZt]

I would recommend holding some alt-coins for long-term do detailed research on any alt-coin before you invest in it, holding few coins myself and 10% from you're salary won't harm and might even be worth it for you in the long run.