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Author Topic: What if trading in Bitcoin was your source of income?  (Read 231 times)
ValerieChristaldi
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March 18, 2018, 09:04:51 PM
 #1

What are the effects of these days dips for you as a trader?
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March 18, 2018, 09:17:28 PM
 #2

What if trading in Bitcoin was your source of income?

--

Then you don't have a source of income.
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March 18, 2018, 09:19:25 PM
 #3

You make shit tons of money just as you would on the way up. Traders, competent ones, make money regardless of what the trend is. As long as there's movement then there's money to be made, doesn't matter what direction.

The one thing they don't want is endless low volume sideways. There's not much you can do with that.

Hardly anyone cuts it as a trader long term. The really good ones you'll never probably hear from. They'll be too busy and too rich.

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March 18, 2018, 09:26:13 PM
 #4

I think there are many people in crypto who like to think they're great traders but it's mostly because they're operating in a very favourable market. When prices are moving like they have been the last weeks only the best are the ones making good profits. I've had very good (by my own standards) success since entering crypto but the last weeks have been a blood bath for me because I am not experienced or brave enough yet to profit in such a market.

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March 18, 2018, 09:32:48 PM
 #5

That is not true, it is very difficult to be able to be a trade in this kind of markets, specially when everything is on red and you can not even make $5 out of the market.

I do not like to trade on those conditions.

I think there are many people in crypto who like to think they're great traders but it's mostly because they're operating in a very favourable market. When prices are moving like they have been the last weeks only the best are the ones making good profits. I've had very good (by my own standards) success since entering crypto but the last weeks have been a blood bath for me because I am not experienced or brave enough yet to profit in such a market.

It would be good to get back to december and make thousands of dollars again.

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March 18, 2018, 09:34:03 PM
 #6

That is not true, it is very difficult to be able to be a trade in this kind of markets, specially when everything is on red and you can not even make $5 out of the market.

Um, have you heard of shorting? That means you make tons of money when the price falls radically. Sometimes more than if it's going up as falls are often more violent.

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March 18, 2018, 09:54:59 PM
 #7

Why you are thinking about the dip and you are doubting traders who are making tons of money with it?

There's no effect for the real traders whatever is the trend, the market is high? They will earn, the market corrects? they will still earn.

When the market pumps they will take advantage of it and when the dip comes still another advantage for them.

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March 18, 2018, 10:14:33 PM
 #8

Firstly, your title is so very different from your main discussion. But answering your main topic; as a traders, with this dips, you should look for potential coins, buy more of them and hold them till the price pumps then you will sell. This is what every good traders will do. The main key here is to be alert and be informed because if you are not, you c
might possibly loss your chances.
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March 18, 2018, 11:07:21 PM
 #9

If you are a trader of BTC and other cryptocurrencies while it being the sole source of income, then I would say that you are actually in pinch right now. With the market that we have right now, even veteran traders are having problems making trades into it while having good profits. The best course of action today is to buy these dips and invest into it. Meaning you will have ti wait and be patient about it. Wait for the bull run to come back and then sell at a profit. Daytrading will just provide you insurmountable losses and will greatly damage your finances. Just buy the dip and let it sit for a while.  Wink


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March 18, 2018, 11:41:09 PM
 #10

What are the effects of these days dips for you as a trader?
Dips are always good for day traders because they can quickly make some bucks whenever there is small green stick between those red one. Also dips means price will swing between different support points, which is more profitable for day traders than a huge everyday price surge.

If you are long term holder/trader than just keep your coin with you and don't sell being panic at dips.

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March 19, 2018, 12:03:36 AM
 #11

For six months bitcoin has been my source of income. Right now i have not suffered losses, because i bought it when the bitcoin price was $ 7.300 but i feel like i have saturated because the benefits is not enough for daily needs.
For me that have very little funding in the meantime i will postpone it and prefer to invest long term maybe in the future if the price has started moves up to $ 9.000 i will continue it.

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March 19, 2018, 12:13:13 AM
 #12

What are the effects of these days dips for you as a trader?
The past two months are lot of fluctuations are happen in the market. So majority of the traders are afraid in the current situation but Long term holders and day traders are make little profit. It is risky investment I am not to involve in trading because anytime profit or loss are happen in the crypto market so I am always safe in the any kind of situation.

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qwertyup23
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March 19, 2018, 01:18:41 AM
 #13

What are the effects of these days dips for you as a trader?

I know someone who trades cryptocurrencies for a living, but he also has other business aside from this aspect. As far as I know, he earns large amounts of profits weekly but the amount of bitcoin he risks is otherworldly. In my opinion, here are some advantages and disadvantages of trading as your main source of income:

ADVANTAGES:
  • You have the potential of earning large amounts of $$$ in a short-amount of time depending on the amount that you are willing to risks and the right circumstances;
  • Trading cryptocurrencies have a broad spectrum of choices, as there are many altcoins in the market for utilisation; and
  • The amount that you are willing to risk is directly proportional to your expected earnings.

DISADVANTAGES:
  • The nature of your income involves risk. The system can also be called a 'high-risk, high-reward' option as both extremes may be applicable;
  • Relying on trading as your sole income may yield inconsistent results as it varies depending on the price of bitcoin itself and luck;
  • Once countries implement a law prejudicial to the existence of cryptocurrencies, expect your earnings to be affected; and
  • You need to at least have a minimum amount of bitcoin to risk, unlike other methods does not need any investment.
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March 19, 2018, 02:48:24 AM
 #14

Elliot wave has been working fairly well lately

It’s gold for nerds
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March 19, 2018, 04:57:26 AM
 #15

An experienced trader knows how to take advantage the situation whatever the status of the market, whether the prices are high or low it depends on your plan and on how you deal with it.

When the price is in dip its an opportunity for me to buy potential coins to add in my crypto-portfolio, if this is your only source of income then you have to wait for the next pump.

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magneto
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March 19, 2018, 06:05:59 AM
 #16

What are the effects of these days dips for you as a trader?

Understand that you're not just making money when bitcoin is going up.

Trading isn't just profiting off price rises. There is also a possibility for shorting bitcoin when the circumstances suggest that bitcoin may be tanking further. So traders may either be stocking up more coin on a lower price point, or shorting their coins, or potentially just holding it out.

You don't lose money until you liquidate your position, as they say.

Dips happen all the time and are usually a result of the market panicking. Most experienced traders will expect and take advantage of these dips. But it's unwise for anyone to do trading full time as their only source of income, unless they've got massive capital.

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March 19, 2018, 08:29:08 AM
 #17

Looking at the chart today Bitcoin price went up again to $8.300.

Traders who had bought Bitcoin in the dip are happy and the Holders are happy Bitcoin went up.
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March 19, 2018, 09:00:03 AM
 #18

What are the effects of these days dips for you as a trader?

Well, for me btc-alts trading is my main source of current income. And I'm not worried at all. When I started, Bitcoin was... 300 USD. Even now is close to x30. I have reserves for 12 moths ahead. People can do a lot of changes in they work/habits in 12 months.

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March 19, 2018, 09:11:04 AM
 #19

What are the effects of these days dips for you as a trader?
What does the dip have to do with anything for any trader. Every trend, whether down or up, can be traded for profit as long as you are a good trader and you know what you are doing.

Do you really think every trader has gone on vacation or to sleep because of this downtrend? Think again! Traders trade on fluctuations in the market in case you are just knowing or do you think the charts are just moving by themselves? And if it is your source of income, you will still be living better and making shitload of money.

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March 19, 2018, 09:22:06 AM
 #20

Quote
What if trading in Bitcoin was your source of income?

You need a bot to perform this on a daily basis.

Get big on good days and low on bad days. keep safe the rest.

Don't fret on missing pumps. You'll coin will be next.

And don't announce to the world that bitcoin trading is your only source.
 Wink
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