Keep proper distance but not losing passion

[Indamuck]

Since, the investor already has an investment which can never turn zero no matter how deep the market is, it is better the investors wait for the bull run  till his original investment comes out for him to withdraw and make amendment in whatever mistake he made that made him buy when market was BULLISH.

Waiting, that's what makes people lose a lot of money. I really noticed that we're dealing with more people that keep hodling their coins regardless of what the market is doing, but don't actually believe in the coin they invest in.

In this case you would expect them as an investor to take a loss and let the market bottom out, but nope, these brand new investors think a bull run is close every month which is what they prepare themselves for.

Overall, if we look at the weakest hands, they very likely have outperformed the majority of the investors/hodlers here. People here made fun of those who sold last year, but seriously, they did the right thing panic selling early on.

Holding is actually solid advice, history tends to repeat itself.  You don't want to be trying to time the market, TIME IN THE MARKET BEATS TIMING THE MARKET.

Daytrading is essentially gambling the money is in long term holding.

[deisik]

Daytrading is essentially gambling the money is in long term holding

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

[Ucy]

Traders should use what works for them.  I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.

[pinkpanther03]

With the current situations where the market is a bit stable for some time already, it is better to start building up portfolios by acquiring stable coins. It might be a good strategy of somehow not thinking of the profit right away. Instead, think of the future bullish event. This year is just like 2015-2016 where only few people believed, until 2017 made a huge transformation the cryptocurrency. Moving away from trading, staying by investing long term.

[fasdorcas]

Daytrading is essentially gambling the money is in long term holding

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

Day-trading can be a bit complicated and riskier than long term trading and perhaps so @Indamuck compares day trading along with gambling. Day-trading usually goes smoothly with higher trade volume coins as there always are much buyers and sellers for the particular coin flying the price and giving us a opportunity to make minor profits in short term trading.

Whereas we entirely wait in long term trading to expect the price reach above our limits and than we place sell orders. Usually long term trading can be profitable and hence is considered by various traders. Short term trading will really require a lot of knowledge and ability to graph the price index to see profits growing up.

[deisik]

Daytrading is essentially gambling the money is in long term holding

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

Day-trading can be a bit complicated and riskier than long term trading and perhaps so @Indamuck compares day trading along with gambling. Day-trading usually goes smoothly with higher trade volume coins as there always are much buyers and sellers for the particular coin flying the price and giving us a opportunity to make minor profits in short term trading.

Whereas we entirely wait in long term trading to expect the price reach above our limits and than we place sell orders. Usually long term trading can be profitable and hence is considered by various traders. Short term trading will really require a lot of knowledge and ability to graph the price index to see profits growing up

I think with short-term trading you have more control over your future

Just holding some coin is no guarantee that it won't turn into trash in the future. In fact, it is almost a given that the majority of altcoins are going to bite the dust eventually. With day-trading your future is in your hands, metaphorically speaking. Indeed, there is no guarantee of success here, either but your options are open at all times

In an unpredictable environment which cryptocurrencies fit perfectly into more control ultimately means more chances for success. If things go wrong, you simply get rid of the dying coin without much ado and futile hope. Compare that to the attitude of a typical bagholder who hopes against all hope till the very end

[futile-resistance]

Well all of in crypto have different story about their losing in trading and even investing but sometimes because of losing we've learned many things so we know what we do next time. And it's part of being trader and investor to lose sometimes the important thing is you learn to what happen.

Losing makes us much braver to face the ups and downs and it is never that bad to loose at the start. There always are a number of things which should be learnt before moving onto our trading career. As a investor, i have failed a lot of times but some of my holding always goes much profitable.

Most easy way to earn profits without much efforts is long term holding as the coins we see the potential in may fly up in the upcoming future and would also give most out of the minimum investment. Unless and until we gain some practical knowledge by actually going through it, we can't expect profits. Traders have a long way ahead of knowledge with maybe immense and unstoppable ocean of knowledge.

[TheUltraElite]

Traders should use what works for them.  I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.

Its all a part of the perspective. What is complicated to one person is simple to another person. Fact is that the first person is less educated in that field than the second one.

So it is not a first time impression of what trading is rather a long term experience and knowledge gained from that used to determine is it complicated or not. In fact learning them does not do you any harm but obviously is good if you are willing to use that knowledge to trade in future and correct previous mistakes. Of course at this moment holding is the thing to do. Do not buy at the pumped price of bitcoin but watch where it goes to.

[waynechong1995]

Very close to how i do, there's alot of sweetness when the market boom, capable to earning money that wouldn't be possible as a student, but still to immature and young to close my position, observing and study trends of market that ultimately lead to pitfalls that barely recoverable, bitter but there's always light to be proactive again with my efforts to work harder for better investments. Proper distance? yes and no. Trading is about dealing with real time market with close speculation unless you have lots of funds or somebody to keep an eye out for you

[mrdeposit]

Since, the investor already has an investment which can never turn zero no matter how deep the market is, it is better the investors wait for the bull run  till his original investment comes out for him to withdraw and make amendment in whatever mistake he made that made him buy when market was BULLISH.

Waiting, that's what makes people lose a lot of money. I really noticed that we're dealing with more people that keep hodling their coins regardless of what the market is doing, but don't actually believe in the coin they invest in.

In this case you would expect them as an investor to take a loss and let the market bottom out, but nope, these brand new investors think a bull run is close every month which is what they prepare themselves for.

Overall, if we look at the weakest hands, they very likely have outperformed the majority of the investors/hodlers here. People here made fun of those who sold last year, but seriously, they did the right thing panic selling early on.

Holding is actually solid advice, history tends to repeat itself.  You don't want to be trying to time the market, TIME IN THE MARKET BEATS TIMING THE MARKET.

Daytrading is essentially gambling the money is in long term holding.

If there are opportunities to be evaluated, keep holding in the background. So, holding is also tactic, but a little dead. Do not know, just waiting for the time when the market is right for you.

[TheUltraElite]

If there are opportunities to be evaluated, keep holding in the background. So, holding is also tactic, but a little dead. Do not know, just waiting for the time when the market is right for you.

Thats a very general concept of the market that you should not panic and continue to hold if prices drop. You have entered the market because you have the belief that the asset you bought is going to go up. With bitcoin you can always be sure that in future the long term price rise will be happening and it wont end up like what inflation did to fiat.

What becomes difficult for traders, specially the new ones is how long to hold. They become impatient and that is what takes away a golden opportunity. Someone out there is willing to buy in case you panic sell. So its your loss if you do that, but you are welcome to do that if you feel so.

[crwth]

Doing shortcuts with yourself from learning wouldn't make sense and it wouldn't benefit you from anything, it just makes a person crazy. The ability of people to want to learn is the thing that we should value the most. If you want to learn something, you would do your best to do it, but if you just push yourself and not really care about what you are doing, you are most likely to lose faith and passion in it.

It depends on what knowledge you are letting in your mind, like the "garbage knowledge" that you are saying, what is that? Knowledge is knowing whether or not it would be useful. It depends on how specialization of things come to play with that, the priority of learning also is to check yourself out if you are doing the right things and assessing yourself if you are doing a great job in it.

Learning to trade is hard, automating it is easier. Gunbot would help you a lot with that.

[carlfebz2]

Doing shortcuts with yourself from learning wouldn't make sense and it wouldn't benefit you from anything, it just makes a person crazy. The ability of people to want to learn is the thing that we should value the most. If you want to learn something, you would do your best to do it, but if you just push yourself and not really care about what you are doing, you are most likely to lose faith and passion in it.

Having no passion would just normally lead you out on engaging to things on a short duration or do simply surrender when you do experience hardship or problem. Facing up scenarios that you havent expect
will really be part of the learning process.Its up to you if you would accept and learn from it and decide to move forward or do just simply let yourself wrapped up with feat which would result into quitting.

[Xising]

like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.

I understand the thrill of trading, but there is no such a thing as fun trading when you are risking your hard earned money. People thinking trading is a fun thing are mostly the ones who end up losing in the long run.

A few lucky profitable trades don't make you a seasoned trader. I'm not directly referring to you, but people in general considering how they assume that trading allows them to generate an x percentage of profit per day.

The most important thing is to not underestimate the irrational nature of this market, especially with how every single crypto currency represents speculative value, and that's what most people don't seem to understand.

Crypto can always go lower, the crash from $6000 to $3000 was a brutal example of that.

Anything and everything can happen, that has always been a constant in the market. In terms of trading, I somehow agree with keeping that ample distance because it gives you the chance to see the bigger picture. That way, you can plan of your actions pertaining to the market whilst seeing everything that is happening. On the passion aspect, it should always be there to enable one to keep believing and move forward in he market despite all the negative things happening around.

[crwth]

Doing shortcuts with yourself from learning wouldn't make sense and it wouldn't benefit you from anything, it just makes a person crazy. The ability of people to want to learn is the thing that we should value the most. If you want to learn something, you would do your best to do it, but if you just push yourself and not really care about what you are doing, you are most likely to lose faith and passion in it.

Having no passion would just normally lead you out on engaging to things on a short duration or do simply surrender when you do experience hardship or problem. Facing up scenarios that you havent expect
will really be part of the learning process.Its up to you if you would accept and learn from it and decide to move forward or do just simply let yourself wrapped up with feat which would result into quitting.

That’s the problem. Why start in the first place if you don’t want to do it? It’s like pushing yourself to the wrong person that you will become. No matter what it is, as long as you know you could try, then go. Know yourself first and understand what you are going to do

[GregH37]

Having no passion would just normally lead you out on engaging to things on a short duration or do simply surrender when you do experience hardship or problem. Facing up scenarios that you havent expect
will really be part of the learning process.Its up to you if you would accept and learn from it and decide to move forward or do just simply let yourself wrapped up with feat which would result into quitting.

Impatience is really bad. It can cause you to lose a lot of things. That’s what made my friend to miss out on the bull we had in 2017. He started cryptocurrency before me and later he taught me about it. So, I started investing. He never had patience, which I did and I was able to gain from it when the bull trend arrived. I am not always in a hurry and I always plan things ahead of time so I don’t make a mistake.

Being calm and not being in a rush in everything you’re doing is a good thing for anyone to do. You shouldn’t always be in a rush or you might lose. Whenever I want to invest money in any thing, I make sure that I have the money I will need for that investment (an amount I’m ready to risk) and when I invest I’m not always in a hurry to make money. There are other things I can do to keep myself busy.

[deisik]

Being calm and not being in a rush in everything you’re doing is a good thing for anyone to do. You shouldn’t always be in a rush or you might lose. Whenever I want to invest money in any thing, I make sure that I have the money I will need for that investment (an amount I’m ready to risk) and when I invest I’m not always in a hurry to make money. There are other things I can do to keep myself busy

In most cases it turns out to be an advantage

And not just in trading (though in trading it is likely most noticeable because here it is always a question of either money lost or money earned) but in life generally. With that said though, there are also cases when you need to act fast, and unless your patience comes from an in-depth understanding of the market dynamics (which doesn't seem to be), it can easily cause you as much pain

[ajaymukund]

I also have an older brother who often let his fate lead him. But I think it will be a bad action for his future. We really shouldn't be passive. After each failure, we need to be more burned and more aggressive to overcome mistakes again. Let your brain always work, don't let it relax too much.

[Denton]

It is necessary to start trading only having a certain knowledge. Not everyone can trade successfully. You must be  is always wise to make your trading decisions.

[Idrisu]

I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.

In reality we have to see trading as fun but it is not fun and when we began to lose really money we began to see trading as risk.  Many traders have lose money and about 95% of them has never make money from trading consistently.  I think trading is a skillful thing and before venture into it you must demo trade first.