Shield132 is back! - I left everything and everyone for one month for trading

[shield132]

I know I didn't do a great thing for living alone for one month and fully prioritizing trading but I learned a lot these days. Oh, I also analyzed how I missed my bitcointalk and community, I love you all guys, sometimes even spammers too

Okay, let's move on the things. People think that trading can make them rich easily and quickly but what if I say that it's true? Yeah, that's true but you have to understand the one thing: High reward = high risk and opposite. There isn't any rewarding thing that doesn't carry the same quality risk.

So, we were saying that trading can make you rich in just one day? Yeah, if some days ago you would buy BNB on 225$ price in future trading with 125x leverage and invest your whole capital and would wait until it hit 400 USD, then yeah, you would become a billionaire from some hundred dollars. But you didn't because you'll never know what will happen. If you analyze the past, it will make you kill yourself about why you made such mistakes but we have to realize that past is past and we can't change it unless someone invents the time machine.

There are a lot of things that you guys don't analyze. First of all, a high percentage of traders are noob people who become a victim of whales. Yeah, whales dominate the market, you just to swim near them instead of diving down and acting on your own. It's like this trading space is simulated/manipulated by them and it looks like we are in their world.
What do you do when you don't know the road in the city? Follow the one who knows, the same applies to trading (but I don't mean etoro shit social trading).

So, here are my advices:
1. Guys, you have to seriously be up to date around cryptocurrencies, especially around the coin that you trade, there are a lot of factors that affect price everytime, you don't have to blindly follow pump and dump if you don't know the reason behind it.
For example: BNB had huge rise when Binance announced to add Tokocrypto in launchpad because if you would hold BNB, you'd get a great reward. After this news, a lot of people started to buy BNB and you'll see the price of it right now.
On 6th April we were waiting to hear something from SEC about ripple and lately, there were positive vibes around it and people were saying if the answer was positive other exchanges would relist XRP and it would cause a huge rise in price.

2. Invest in something that you are fully aware of, know the pros and cons and see why it is better than others to be massively adopted by people. If you don't consider this and don't believe in project, then I guess you'll panic sell the coin if something happens.

3. Never follow the bull run when it's about to finish! Remember, the higher the rise, the higher the fall and you should try to catch that fall in futures trading. In fact, it's another rise for you.

4. Do not panic! It just doesn't change the situation and makes you feel bad, when you fell bad, you make worse decisions, just take a chill pill or don't check prices often, set limits or price to sell automatically and that's all.

5. When you buy coin in 1 USD, you shouldn't sell it in 0.7 USD. The idea of trading is to sell high!

6. Bonus advice!!! Invest money that you won't have a need for 4 years. After halving, even the worst price can become cool )

Have a nice day and trading ) I love you all guys <3    I'm here and never leaving my bitcointalk <3 It's really part of my life.

[NeuroticFish]

Welcome back.

5. When you buy coin in 1 USD, you shouldn't sell it in 0.7 USD. The idea of trading is to sell high!

Trading in bull trend is great. I've done that too, long ago. But bull trend doesn't go on forever. And you don't know when it'll stop and revers for good.
Certain traders may find it a better business to buy at 1$, sell at 0.7$ and buy back at 0.5$, or never buy back if there's no sign of recovery.

6. Bonus advice!!! Invest money that you won't have a need for 4 years. After halving, even the worst price can become cool )

That's the best advice. It's a "reinterpretation" of "don't invest what you don't afford to lose".
Still, keep in mind that while this works great for Bitcoin, many other coins will go down and won't recover even after 4 years (and some may not really show signs that this is about to happen).

[shield132]

Welcome back.

Thank you mate, we were a part of Bitsler for years 

5. When you buy coin in 1 USD, you shouldn't sell it in 0.7 USD. The idea of trading is to sell high!

Trading in bull trend is great. I've done that too, long ago. But bull trend doesn't go on forever. And you don't know when it'll stop and revers for good.
Certain traders may find it a better business to buy at 1$, sell at 0.7$ and buy back at 0.5$, or never buy back if there's no sign of recovery.

Depends on bull run, if there is exciting news and bull run started, then sure you have to enter. For example once the Binance announced Tokocrypto, it started massive bull run and I joined it and stayed, no regrets, did amazing job. But when it's fake bullrun one whale sells at higher price and then others quickly follow, then sure to leave. Bull run without a reason is a thing that you should avoid!!!

6. Bonus advice!!! Invest money that you won't have a need for 4 years. After halving, even the worst price can become cool )

That's the best advice. It's a "reinterpretation" of "don't invest what you don't afford to lose".
Still, keep in mind that while this works great for Bitcoin, many other coins will go down and won't recover even after 4 years (and some may not really show signs that this is about to happen).

Yeah, really. Btw I don't mean shitcoins that have no purpose to exist. I mean coins like Bitcoin, Ethereum, BNB, these three are guaranteed, more likely Bitcoin and BNB are 100% guaranteed. I don't like the bahaviors of Binance but holy shit, they know what they are doing.

Bitcoin will always surpass it's all time high )

[trigger1975]

5. When you buy coin in 1 USD, you shouldn't sell it in 0.7 USD. The idea of trading is to sell high!

6. Bonus advice!!! Invest money that you won't have a need for 4 years. After halving, even the worst price can become cool )

7. Trading a strong bull market is pretty easy if you follow simple rules like "have a plan", "trade consistent and responsibly", "be disciplined".  But don't think the bull market will never end: the correction is coming so be prepared.  The correction will end some day and the bull market will return: so be prepared!

[NeuroticFish]

we were a part of Bitsler for years 

You really want to make me feel old, isn't it?

Depends on bull run, if there is exciting news and bull run started, then sure you have to enter. For example once the Binance announced Tokocrypto, it started massive bull run and I joined it and stayed, no regrets, did amazing job. But when it's fake bullrun one whale sells at higher price and then others quickly follow, then sure to leave. Bull run without a reason is a thing that you should avoid!!!

It's not always easy to know it's actually bull run or not. I see with Bitcoin and newbies, some jump in head first, others are still unconvinced it's bull run.
And market/price manipulation does exist, the smaller the coin's market cap, the bigger the chance for it, making legit market moves even less obvious.

Btw I don't mean shitcoins that have no purpose to exist.

There are a few other good coins too, some of them didn't even start a proper bull run. And imho they're by far not shitcoins.
Still, I am uncertain in which direction will their price move in the next year.
However, I no longer trade, and I'm still on profit with them just by holding, and maybe, sooner or later, they'll make me happy.

Bitcoin will always surpass it's all time high )

Clearly. People keep telling to keep at least half of portfolio in Bitcoin for a good reason.

[Maus0728]

Okay, let's move on the things. People think that trading can make them rich easily and quickly but what if I say that it's true? Yeah, that's true but you have to understand the one thing: High reward = high risk and opposite. There isn't any rewarding thing that doesn't carry the same quality risk.

I knew there is something wrong when I first read this research that says 97% of traders are losing their hard earned money.

Abstract

We show that it is virtually impossible for individuals to day trade for a living, contrary to what course providers claim. We observe all individuals who began to day trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms of volume in the world. We find that 97% of all individuals who persisted for more than 300 days lost money. Only 1.1% earned more than the Brazilian minimum wage and only 0.5% earned more than the initial salary of a bank teller — all with great risk.

Found it online when I am looking for write-ups that could give me actual results of people that are losing in trading and perhaps this signifies that not all individual have in place in trading. But thanks for the encouragement that somehow, a proper education and experiences are something that beginner traders can hold on to when they start to wonder the wild wild west.

[mersal]

Even that one month can teach you a lot of things about trading and you shared with the fellow forum members is a great thing too. I need to tell some other points which is about different tyes of trading which is day trading, short and mid term then long term so the analysis also should be based on what kind of trading we are going to choose for any coin we choose to trade. As a day trader it is not much important to give the fundamental analysis, all we need to concentrate on the upcoming developments for the projects in near future and technical analysis.

But if you are a long term trader then it should be very important to get strong with fundamental analysis before analysing the developments and technical analysis.