I am not lucky in trading - what am I doing wrong?

[jazmuzika217]

I think you need to be updated about news about bitcoin when you use it as a trading coin. You are not wrong timming but I can say that you are not knowledgable enough about proper trading of your coin. You need to monitor every changes and movement of bitcoin price because all we know that it is the key to make good decision when to  stop or to make additional investment.

[1714866791]

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[Inkdatar]

I think you need to be updated about news about bitcoin when you use it as a trading coin. You are not wrong timming but I can say that you are not knowledgable enough about proper trading of your coin. You need to monitor every changes and movement of bitcoin price because all we know that it is the key to make good decision when to  stop or to make additional investment.

Actually, this happens to others not lucky during trading selling at the price you desired then suddenly it goes up without expecting the market to increase. That’s a plus to monitor the movement of  certain coins but take note we cannot predict the price. I’m not also good at trading but this failure makes us next time to do good during trading.

[Amel]

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?

There is nothing wrong according to the basic theory but you just lack experience in trading, there are many aspects of consideration to determine when we have to OP, TP, CL. Your mistake is only to focus on one strategy, the support line, but you don't consider other aspects that can affect the market. I myself usually use a lot of judgment to make decisions, whether fundamental or technical.

[binhvo1505]

Hello all,

need advise, if any exist
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?


thanks
P.

I think this happened because of your inexperience in identifying market trends and market corrections. This is one of the very basic things that traders need to know and master it well before trading with large amounts of money.
As far as I know, when bitcoin falls sharply at some point, it will certainly have a correction. it happens because the crowd thinks that this is the bottom of the market at this point so they will continue to be stronger. and you should take advantage of that opportunity to sell bitcoins, not when they have just hit the bottom.

[iv4n]

First is your bankroll, learn how to manage it. I give an example, you have 1000 dollars and you plan to trade. Buy when price is red sell when is green, sounds easy right, but don't buy with all the money you have, buy for 100 dollars, that is 10% of your amount. If price dips more buy again, again 10% more or less, and like that as long as price goes down, when it hit green for the first time you will see can you sell some amount like 5%, depends on green and profit, if it goes up after that sell again, if it goes down buy again. Be patient and don't forget at what price you bought so when you sell to be in profit, not loss. With bitcoin trading I never cut loses and price always bounce back after some time.

[quarkfx]

many times opposite happens and nothing works all we can do at this time is trade less , takes less risky trades , many traders have statement when I enter trend changes and go against , don't force yourself to take trades wait for setups which your are good at , every trades don't work out

Don't trade with fear

[naikturun]

Yes it is not possible to predict the full price BTC, BTC Price can go up and down very fast.
So if you intend to make a daily trade, when it is getting a direct profit selling does not matter when the price rises again.
You can buy when the price goes back down, although it is uncertain when you buy the price going up

[Hamphser]

many times opposite happens and nothing works all we can do at this time is trade less , takes less risky trades , many traders have statement when I enter trend changes and go against , don't force yourself to take trades wait for setups which your are good at , every trades don't work out

Don't trade with fear

It is said that "he who trade with emotion shall suffer" (idk who said that, i just made it up )
But anyway, it is useless if you do trade with your emotion because there are times that you can't control your emotions and the shit happens will always follow. That's why we have to trade when we are ready not when we want to chase those losses.

[bandungan]

Do you use indicators that you trust to analyze the trading? I thought maybe you were just wrong in predicting and reading price movements. so you don't get profit. the best way is that you should try to be better at seeing market conditions, price chart movements and so on before deciding on the next step

[cotton ball]

If not lucky with trading you can try investing on ICO or IEO, there are do not have system like trading on altcoin but you only check which one potential and serious for building their ICO and IEO have higher price after listing on exchange market, you can get much profit if invest with good ICO and IEO because after coin listing on exchange have higher price.

[AakZaki]

as a beginner trader you must learn to use RSI and Parabolic SAR as a reference when to buy and sell.  and you have to be patient, don't ever panic when trading when you already get profit, immediately take it, the most important thing is never to be greedy, it will make you regret that you can't sell at high prices.  remember price movements are volatility.

[Webetcoins]

that happens to a lot of people, not just to you. Just continue to practice trading with small amounts. When you average the times that a traders missed the right buy or sell point, I think most of us are more in the negative. Trading will test your patience and sometimes it will seem that you're just out of luck. Good traders set this aside and continue to learn. If you want to be an efficient trader, then you shouldn't  let setbacks dictate your general outlook towards trading. It's a continuous learning process.

Correct and he shouldn't lose hope for those loses since he might gonna come up with an idea on how to trade properly by those experience and the only thing he need to do is to prolong our patience,learn the statistical movements of the market and deprive our fear aswell extend our patience on it since if we master it for sure a lots of income will come unto us.

But also maybe if he don't have enough bankroll for possible losses maybe I suggest it to him to use the site who offered trial phase or maybe just monitor and learn the market flow.

How can we learn to trade with that ways you meant to be? Since the market hasn't able to come up at good value ever since crashes unfortunately dragged down all potential rising coins. Your advise is somehow a good strategy in getting the trial phase, but maybe I'd be doing that when crypto markets starts to recover. Meanwhile, I would try to focus on holding my asset even though it was not yet increasing at good value; at least there's always a chance while seeing cryptocurrency is trying to recover right now.

During the downfall season, it is preferred to increase the amount of asset as it is available at lower price but holding is also a way to survive through such situations. It is better than panic selling. The days are going to be change. Moreover, if you are holding bitcoin and start day trading with it then no matter what the situation of market is, you will be making profits. Learn basics of trading and bitcoin.

[SvonioneFromMangoCoinz]

Hello all,

need advise, if any exist
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?


thanks
P.

I have encountered many cases like you and myself, now also having this problem. It's really hard to deal with and it often makes us very sad and feels like we lack confidence. But don't worry, everything will end when you give up really. Try to understand the ways to identify the peak and the bottom, it will help you a lot in making more accurate decisions and less risk.

[maydna]

I have encountered many cases like you and myself, now also having this problem. It's really hard to deal with and it often makes us very sad and feels like we lack confidence. But don't worry, everything will end when you give up really. Try to understand the ways to identify the peak and the bottom, it will help you a lot in making more accurate decisions and less risk.

Everything will be better soon, all we need to do is never stop and still having an effort to learn more about trading so we can trade with right and we can improve our skills. Although it is difficult to learn any lesson, as long as we can try to learn, I am sure that in one day, we will understand the point of every lesson. We can identify market situations with learning from some lessons, but if we don't learn anything, I am afraid that we cannot do that so we can get lost again and again. One day, you will know when the right time to buy and sell so you can try to recover your loses and make a profit.

[EdenHazard]

as a beginner trader you must learn to use RSI and Parabolic SAR as a reference when to buy and sell.  and you have to be patient, don't ever panic when trading when you already get profit, immediately take it, the most important thing is never to be greedy, it will make you regret that you can't sell at high prices.  remember price movements are volatility.

Oh well congratulations you just give a newbie some lights! , at least provide a little bit explanation about what you have mentioned above about RSI and SAR itself.
But here lemme tell you something who wondering about these RSI and SAR .

RSI = Relative Strength Index
Is one of many popular technical trading tool
It's an indicator to evaluate the strength of the market.
To identify the overbought or oversold in the market.

Trading is not about being lucky or not indeed , you need to continue compounding knowledge and put it into action. Not only compounding the asset itself!

[zeze18]

Hello all,

need advise, if any exist
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?


thanks
P.

that means you're trapped by the whale strategy, you shouldn't make a decission by looking at the current market position, you should determined your buying area and selling area before enter the trade and you also have to not FOMO by the agility of market movement because that is what whales want.

[Andrew Parker]

This is what I often feel but I have realized that if it’s about me being lucky, then there is no way I can succeed in long run. So this is where we need to be wise with our approach. I find it easier with FreshForex to be somewhat lucky. And that with their 101% Tradable Deposit Bonus, which at least gives me room to work with comfort.

[msarro]

I rarely meet people who are short term/day traders and are in profit. I normally don't do short term or day trading and I suggest everyone here to learn HODL. Just do some research and see how much gain BTC has given to those who HODL, if you figure it out you won't go back to trading. I leave it you to find in this year alone how much gain BTC has given to its HODLers.

[joshy23]

I rarely meet people who are short term/day traders and are in profit. I normally don't do short term or day trading and I suggest everyone here to learn HODL. Just do some research and see how much gain BTC has given to those who HODL, if you figure it out you won't go back to trading. I leave it you to find in this year alone how much gain BTC has given to its HODLers.

There's always different opinions regarding to this strategy, long and short term traders have their own ways on how they will take the advantages to earn out from this business, it's difficult to predict the price and how the market will move but if you do have a good system to track what will be the next market trend then the chance that you will able to benefits is always possible. It's your choice in how you will make your way to succeed.

[supercanada1]

many times opposite happens and nothing works all we can do at this time is trade less , takes less risky trades , many traders have statement when I enter trend changes and go against , don't force yourself to take trades wait for setups which your are good at , every trades don't work out

Don't trade with fear

A trader must not look for a particular situation that he will trade in but develop the ability to trade in all sort of seasons. With the first approach, his trade automatically gets limited because the market wont remain the way he looks for. In addition to this, if the loss is not the outcome every time he trades, then this is pretty okay because all of us are destined to come across failure in our lives. Just learn from the mistake and move on.