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March 22, 2021, 08:29:06 PM Last edit: March 22, 2021, 09:01:31 PM by lichig |
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Hey guys, I wanted to share with you my short history of Bitcoin trading.
So, one thing led to another, and when I realized I was trading on Binance...
I am not a trader, and I have not a trader background, so I was doing some very basic operations, mostly: selling when price was too high according my analysis and buying back on the mini-dips. Also I was buying at low price, again according to my speculations, using loans and paying back the loan as soon as I made some profit.
But after a few months I finally gave up on this experiment of playing the trader due the following reasons:
1) This is a full time job. To be a trader requires to be on top of the news, to be on top of the charts all the time.
2) Since my capital was small, my margins were smaller (USD 100 per operation, and normally I was able to make 1 or 2 operations per day) — I got paid way more than that on my real day job.
3) It is stressing. Many times, I saw the price go higher and higher as soon as I sold in the hope of price going down.
4) It is a lot of "gambling" involved and I do not enjoy that.
5) I happened to me, almost every week, to lose all the gains that took me several days to make in just one operation.
6) Bitcoin does not give a damm. It doesn't matter if ALL of the indicators are predicting a trend. Bitcoin does not give a damn "nobody knows if a stock is going to go up, down, sideways or in circles".
So I decided, the best strategy for me it is just DCAing. Every Friday I'm buying 5% of my paycheck, Whatever it is the price.
Thank you to all of you who help me with many of the questions I posted on the forum. I'm now here for the long haul.
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