What if trading in Bitcoin was your source of income?

[wuvdoll]

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.

First and foremost, what do you consider a favorable market ? Every market is favorable for you if you have a great idea of what you are doing and you are not just trading blindly. Traders make money in buying as well as selling and as long as this is a trend that will always happen in every market even in every short period of time, traders will keep making money even in a dip. They are all trends and they are not for decoration.

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

None! Making money just like I would have made in an uptrend as a trader. Trader is not looking for a particular trend before trading; the only difference is that they may just try as much as possible to trade safely considering the level of FUD in the market. Still, the market keeps fluctuating and as long as that is intact, the market is still very good to trade and nothing stops a good trader from making money.

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[99btcwah]

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

You must be a very good trader to make a living out of bitcoin trading. As it is, having deep pockets and hodling is the only way to make good money out of the way bitcoin behaves. If you're in it, stick around for the long haul as making the right call on it's day to day ups and down is a very tricky business and plenty of people are a few thousands poorer by the day because of it.

[Uno17]

Why not if you are doing nothing in life, that’s another option to earn a living. As long as you think you will survive and  most important is you are happy with what you are doing. Others are doing that option so it means it is possible to succeed in life also that way. You just need to have focus of what you chose to do in life if you want to see success. For me everything is possible with determination😊

[arwin100]

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

You must be a very good trader to make a living out of bitcoin trading. As it is, having deep pockets and hodling is the only way to make good money out of the way bitcoin behaves. If you're in it, stick around for the long haul as making the right call on it's day to day ups and down is a very tricky business and plenty of people are a few thousands poorer by the day because of it.

By relying on it will make us poor since if we just gamble our luck on tradings well provably we will lose all of our earnings and capital since we cannot say that we will always gain with this matter since crypto market is so traitor and It doesn't bother to give us a hint when there's huge dump to come. But if you put a huge digits of money as capital well maybe you can control your lose and gain since you can be a manipulator.

[BrewMaster]

a real trader does not need an always rising (bull) market to make profit. a real trader will find a way to make a profit in any kind of market by only adjusting his strategy to the market and the ongoing trend. so when you say "effects of these days dips" on a trader, it shows that you are only familiar with a tiny part of trading which is buying when price is low but is rising and selling after a while and have no clue what to do in any other scenario.

[AnonBitCoiner]

You are going to lose something.
First you are forced to sell bitcoin with low price ,if you are depend on bitcoin for the expenditure.You may forced to sell at price lower than the brought price.Then you will lose the bitcoin,which you may sell with high price in future.This will make you lose money as well as bitcoin by this dip.

[Palmerson]

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.

He does not understand that any fall has its origin. Even when the price at the bottom you need to invest Fiat and buy cheap coins. After a few days, this investment will yield income. Most people think that in order to make you just need to buy bitcoin and watch as the price keeps going up. Probably these people in my childhood I read a lot of fairy tales and still believe in them.

[Baoo]

In general, many traders are benefiting from many situations (like, the big drop, the rise..), because they behave so well, and read, analyse the market with an intelligent way. Then, of course, trading will be a source of income and full job for them.

In addition to that, I do not think that the days of falls on the market will affect negatively for the traders, especially the professional ones, but for the beginners are always affected by changes, particularly in the big fall and they lose a lot of money because of their bad behaviours and lack of self-control.

[Ridwan Fauzi]

The concept of trading is buy when the price is low and sell when the price is high, regardless of the difference when selling the important I get my profit I will sell it, and when the price goes down I will buy back. Allright I will say, a trader must have a special way to always see the price movement, in this way traders will always get a profit because all we know with the characteristic the price of cryptocurrency is volatile it will make us get profit.

[airdagon]

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

some people have made bitcoin the main livelihood, because so many advantages can be quickly generated in the world of cryptocurrency.
hmm maybe the impact is a sudden loss. but, if the weak hands are in this position, they will as soon as they sell because of panic.
to be honest, i do not understand with the thread you made and the general question its, this is very different bro LOL!

[rizkyhiw]

now a lot of profits by trading there and they make it as the main job, it means many loopholes to profit from every trade where there will be an increase every month.
but there are many who do not believe that by trading like today, I really appreciate those who succeed in trading where they have been categorized as very smart and great people in reading the current situation is not thinking in a single point.

[chainedblocks]

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.

Good traders sell when the market shows sign of a downtrend and they buy when there is a sign of an uptrend. Every trend in the market is an opportunity for a trader, so it is not only about buying alone. The essence of shorting in every market is so that trader can make good bucks from the down trend, so if we are to answer the question rightly, I would say, there is no break for any trader and every time is a good time to make money.

[pitiflin]

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

Each trader has his own strategy and algorithm and he never reveals it. A good trader is a trader who profits even when going through a bearish period. It's almost impossible to find such investors or traders without actually manipulating the entire markets. The stock market assholes do it and so do crypto whales. Fucking assholes.

[Stephen Gornick]

Real, skilled, professional trader would turn market into his advantage any time and he will make profit always, when the price is up or down because he got covered all options. Trading is skill that aquires long time learning.
Every situation for good trader is another opportunity to make money. But such traders are rare and not everyone is capable for this. But only such professional experienced traders can make living from trading and be realy successful.

[Slow death]

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

losses and losses, of course this does not mean that day trade would stop, but should you notice something, even if you are a great expert? the losses are unavoidable because no one has a crystal ball, you can now do a good technical analysis and convince yourself that the price next week will be $12000 and arrive next week you will see the price being 7000 $. so many people prefer to buy and hold for a year. if you look at the profit in a year you do not have to worry too much about increases and falls of prices every day

[fanbeila]

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.

Yeah.You are absolutely right.Making utmost use of the situation whatever dry it may be.Shorting is done by big whales.But its a very risky game and accurate prediction of market is needed to gain from it and I have seen many people totally getting crashed due to a wrong move in shorting.Its not a kid's game.

[crairezx20]

Well trading bitcoin or even just holding them if you see the price is increasing by more than 10% you can sell few bitcoin just to get the benefits of the price increase.

Trading bitcoin you just need to buy low and sell high, but not every time the price of bitcoin changes it would be hard to live if your source of income is only trading bitcoin.

You must have an alternative source if ever you lose in trading you can be still live while you are trading in bitcoin

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

The effect of the dips these days for me is just a normal if you experience the past years ago it is just the same movement of the price except for last year that the price is continuously increasing. So no effects for me what happened to the price of bitcoin, Unless for those people with low temp and sold their bitcoin at the low price and lose.

[rdluffy]

The good traders are gaining a lot of money for sure

I just buy when I think is low and sell when I feel comfortable (not at loss)

But when I joined cryptos I thought it was a good idea to diversify investments

I have a few rigs to mine altcoins, I put some money on BTC, ETH and another coins, and I'm joining some bountys

[moneyangel]

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

I'm not an expert of trading but for sure those people who did trading as their source of income feels the pain in getting their profits. As the market trends are going nowhere it's difficult to anticipate a good strategy. I respect them as always, I know they can find ways to overcome this difficulties.

[jamids]

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

Traders are making money whether the price is going up or down. If ever you are only making money when the price is going up then maybe it is time for you to find another source of income because price would not be bullish forever. There would be dips and if you only depend on it and you cash out then you have to spend more coins. If ever you intend to make it your only source of income then it is time to study how to short because you will be out of income when market is bearish. If ever you are trading or holding when the market dips then there is no income to be made so you need to have other sources not related to crypto. Build a business perhaps or find a job.