What would you do in this situation?

[dAppsSolutely]

If you would, please imagine yourself in the following position. You're a coder so you've been drawn to cryptocurrency since it began But, you were distracted trying to make a living for all this time and never really got a chance to get into it, other than reading the paper describing it and several articles on the topic. You have a general understanding of it so far and you're constantly learning more.

You did manage to find the time to buy into Bitcoin when it was around 11k. But, you were only able to put in about 500 USD.

Good news, it's now worth about 2k. However, it was purchased with the RobinHood app and is stuck in there until they release their version of a crypto wallet (this year they say).

(You would like to learn to create your own AI bot to help with signals. But, there's a lot to learn and that won't be possible for months at least, maybe longer.)

Edit: You have also read about half a book on technical analysis and plan to finish it soon and read another.

Oh yeah, and you're absolutely flat broke and out of work and are wondering about learning to day trade bitcoin for a living.  You may be leaning towards cashing out half your bitcoin to be able to afford to get the crypto vigilante service. But, that would leave even less to start investing.


What would you do in that situation?  If it's too little to even start with, what if it were roughly double because you told the wife to buy bitcoin back when and after you convince her you're not crazy, it could be double?


Thanks and I look forward to hearing your amazing ideas.  Also, I'm new here. Hello!

[jackg]

What have you already been doing programming wise since you got into that situation?

If it's going to take you months to build a bot to get what you want, what do you plan on doing in the meantime?

You've not given much away other than that you want to build a trading bot and don't have much money (potentially not even enough money to live off - unless you have well accommodating relationships around you/good friends and family).

[Jawhead999]

Why you not looking for a new job in your countries or you could become a freelancer? Coding is one of promising jobs now, even it's depends on your skills and what's software you mastered. You need to have stable income first to cover up your daily expense, trading doesn't guaranteed to earn... it's risky.

Just working to get monthly income and use the rest times to create a bots for trading, what do you think?

[mk4]

If you don't have that much money to start with, not sure why you would go for trading. It's a very fair assumption that you're going to lose money at the start, so it's far better to have a good amount of capital already.

But yea sure if you're like 18 without any responsibilities and you only spend your money on food and alcohol, then sure why not.

You may be leaning towards cashing out half your bitcoin to be able to afford to get the crypto vigilante service.

Dafuq is this.

[crwth]

I think you should focus on getting your income intact first before anything else because how are you going to live when it's like that when you don't know what you are going to do or where you are going to get your next money for food and other essential stuff because you are flat broke? I think it will be a risk for you to focus on creating an AI bot first. I know it can be rewarding when you get there but are you sure you can risk your day-to-day needs compared to focusing on this one thing?

P.S. You're probably not crazy; you just don't know what to do.

[dAppsSolutely]

I think you should focus on getting your income intact first before anything else because how are you going to live when it's like that when you don't know what you are going to do or where you are going to get your next money for food and other essential stuff because you are flat broke? I think it will be a risk for you to focus on creating an AI bot first. I know it can be rewarding when you get there but are you sure you can risk your day-to-day needs compared to focusing on this one thing?

P.S. You're probably not crazy; you just don't know what to do.

Thanks. I didn't mean to sound like a lunatic, sorry. No I'm older and my wife is able to pay all the bills right now. We're ok.  I just don't have an income right now. I'm working on that. I've got some website ideas and I could freelance but other than word of mouth, freelance has just been a hassle.  It seems like I would need a team of people to bid on jobs all day for starters.

Anyway, I thought I could use this minor profit in bitcoin to possibly start sort of day trading it a bit. And, I'm really excited about discovering this idea of dApps recently.  Can't believe i hadn't heard of them. But, I've been away from the computer for a couple years. Just getting back into things again. Checking out my options.  

Thanks for your concern everyone

Get a damn job, loser.  lol  got it  Thanks Dad(s)

edit: I posted this here because I was hoping to get a savvy trader's perspective since I'm just a lowly code monkey.

[dAppsSolutely]

Just learned that what I'm actually wanting to do is called swing trading, not day trading. Although I still want to try day trading just to get a thrill.  It sounds exciting.

[boyptc]

You've got skill man and you just have to maximize yourself offering that as a freelancer. Well, if you're standing on your own, you really have to find a job first so that you get a foundation of what you're trying to do like day trading.

You'll be able to support it as you start since you have no assurance that your very first traders would be a win for you. But as you've said, you are with your wife that are helping you out with the bills. I think it's just you need more motivation of what you're planning to do, whether as a coder/developer or a trader.

[cabron]

Yep there is always regret not joining at the very early days of BTC, we could have gotten a lot and richer than ever.
Since you already started learning to trade I guess that route of building a bot for trading is a good path to take. But it may take time for you so while you do that you may want to join some crypto team to survive and provide for your wife.

[TheUltraElite]

You did manage to find the time to buy into Bitcoin when it was around 11k. But, you were only able to put in about 500 USD.
Good news, it's now worth about 2k. However, it was purchased with the RobinHood app and is stuck in there until they release their version of a crypto wallet (this year they say).

Yeah, stop using them. Use a standard well known exchange to do such trades. Let this be a lesson for now.

(You would like to learn to create your own AI bot to help with signals. But, there's a lot to learn and that won't be possible for months at least, maybe longer.)

You really dont need to do that, unless you are looking into day trading.

Edit: You have also read about half a book on technical analysis and plan to finish it soon and read another.

Not useful if you havent learnt basics of how the market works first. Reading books on TA will fund the book writer and not your skills. Better command over market movement comes from observing the market. Then you can read about TA and see how you can apply indicators.

Oh yeah, and you're absolutely flat broke and out of work and are wondering about learning to day trade bitcoin for a living.  You may be leaning towards cashing out half your bitcoin to be able to afford to get the crypto vigilante service. But, that would leave even less to start investing.

Seriously? Are you that desperate to earn money? Even if you were, this is morally wrong thing to sign up into. You dont want this in your track record when you look back at your life.

What would you do in that situation?  If it's too little to even start with, what if it were roughly double because you told the wife to buy bitcoin back when and after you convince her you're not crazy, it could be double?

If you made a loss, owe up and confess that you made a loss. If you are confident about rise in price, keep holding. Beyond that you have to keep fiat ready at hand to buy at the bear cycle.

[tvplus006]

Just learned that what I'm actually wanting to do is called swing trading, not day trading. Although I still want to try day trading just to get a thrill.  It sounds exciting.

In order to start trading, you need the initial capital that you do not have. So to implement your plans, you need to earn money in real life. And I don't see any obstacles to this, since you are a programmer. In addition, you will need to find additional work that can be done remotely.

[Natalim]

You better keep your job OP and make use of your salary to make an investment in crypto. Bitcoin is a little expensive, you can choose potential altcoins instead. From $500, not really a bad start, some people even use $100 and yes, they are still okay. You actually don't force yourselves to invest more, just start the amount that you only can provide, not from the debt.

You can't clearly understand what happened to you unless you have a clear plan in regards to investment while not giving up your job.

[ven7net]

If you are a programmer and were able to get into such a situation, then you probably chose the wrong strategy or you simply did not have it. My opinion is that each person should do what he does best, and when this occupation or profession ceases to bring profit, then you need to learn a new direction. However, you should understand that you need to learn something, for example, trading cryptocurrency, with a minimum cost of money, that is, you should not enter into trading for large amounts until you have a positive experience. Now that you have lost some of your capital and probably your faith, you need to stop. I would leave the BTC that you have left at least until the end of 2022, in the hope that its price can show an increase up to $ 240,000, which may help you to cover your loss of funds. And while you are just waiting, I would do other work, for example, I would return to programming. The mistake is that many are in a hurry and do rash actions, as a result you are in a difficult situation. It is also very important to build a plan for the future, where you take into account different situations, including risks, so as not to get into a difficult situation in the future.

[Zilon]

I just have a few words to share with you been you can combine crypto trading with anyother skill and since you had interest in coding I will say you have one of the best options to combine with trading. The market is never predictable so during bad market condition you can always use what you get coding to complement your investments. For now take quality time to develop your coding skill complete a project so you don't get stranded during the bear

[jackg]

edit: I posted this here because I was hoping to get a savvy trader's perspective since I'm just a lowly code monkey.

Trading is quite a hard skill to learn and most of the TA may not work all the time with bitcoin especially.

A lot of people move between stocks, forex and bitcoin and you might just want to do that yourself. There's also the thing of how many people avoid trading bear markets because they're especially less likely to follow TA (this may include stocks too as well as crypto, I'm not sure).

You might want to start drafting out pattern recognition as you read through the books too as that will probabky be the hardest part of programming the bots (if you've already done api work before).

[Reid]

First, welcome to the forum.

Oh yeah, and you're absolutely flat broke and out of work and are wondering about learning to day trade bitcoin for a living.

You are a coder, that makes me doubt with how you cannot be able to make a living when most of the jobs now are focused in computer. It just makes me wonder.
If you think you don't have the right amount to start everything then why jump the gun? If I am on that situation, I think I am going at saving more money first. Trading is not a joke and even if you have the bot that you want to create, it doesn't mean it will be perfect. There will be trial and errors that may ruin the plan and your capital.

[The Cryptovator]

It's hard to get what do you want to express with us. Nowadays there is a huge demand for coders or developers. I think you just failed to approach the right place. How you can make sure that you may earn by day trading? Doesn't matter you can build a signal bot. It doesn't give a guarantee of profit, otherwise, everyone would run for the bot. Just look into a marketplace like Fiverr from where you might get works. Learn crypto-related coding. Because it wouldn't be hard for you to learn if you are familiar with coding languages. You can't depend on cryptocurrency trading anyway.

[galambo]

Why you not looking for a new job in your countries or you could become a freelancer? Coding is one of promising jobs now, even it's depends on your skills and what's software you mastered. You need to have stable income first to cover up your daily expense, trading doesn't guaranteed to earn... it's risky.

Just working to get monthly income and use the rest times to create a bots for trading, what do you think?

If you are a programmer then you can earn good money provided you are good in doing coding and familiar with latest technologies. The best way to start your career as freelancer is to create GIG on fiverr or upwork. Even you can post your services under services sub forum and there are so many people looking for professional coders.

[Fesatmas]

Oh yeah, and you're absolutely flat broke and out of work and are wondering about learning to day trade bitcoin for a living.  You may be leaning towards cashing out half your bitcoin to be able to afford to get the crypto vigilante service. But, that would leave even less to start investing.

I would probably choose the one situation that is most experienced personally. Moreover, responding to the situation during the pandemic, many people have experienced what you said above. Few have started to look at Bitcoins as an alternative to add some value to their portfolio. By trying to put 50% in Bitcoin in mid-2020 at the peak of the pandemic and then holding it until the end of 2021. Wouldn't it be fantastic if someone was able to be strong in responding to the market situation at that time? As a result, there will be a lot of changes happening by allocating around $10000 in bitcoin and selling it at the ATH price. I say don't be greedy and take profit and then wait for the bear market to return.

[JunkieMiner]

In my opinion first of all there must be some job for you to get involved in that and after that you can try your skills at that point by getting a good profit at that place, and after that try your luck at different jobs which may be better for you and that can also give you a way to finding a great talent in you which you already have I think.