YellowSwap (OP)
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March 16, 2022, 10:07:44 AM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
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Despairo
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March 16, 2022, 10:28:03 AM |
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There's a two wrong advice you mentioned above: 1. Good project 2. Buy by looking at the chart
No one can know good project, they can pretend like a serious project but after they got a lot money from crowdfunding they can run with the money. Chart trends or chart patterns that has been analyzed by trader, sometimes can go wrong with his analysis. But, you're only looking by the chart and make sure it's far from the ATH? mostly those coins will become dead coins and delisted from exchanges, you will rekt.
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NeuroticFish
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March 16, 2022, 10:35:58 AM |
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There's a two wrong advice you mentioned above: 1. Good project 2. Buy by looking at the chart
No one can know good project, they can pretend like a serious project but after they got a lot money from crowdfunding they can run with the money. Chart trends or chart patterns that has been analyzed by trader, sometimes can go wrong with his analysis. But, you're only looking by the chart and make sure it's far from the ATH? mostly those coins will become dead coins and delisted from exchanges, you will rekt.
Actually if one takes a proper look at the project and team he can eliminate most of the scams and some of the projects that won't have a future (copycat/shitcoins with nothing new, projects that want badly to look as useful but they aren't, ...). Of course, one has to have the common sense to see beyond the possible hype and one may need a bit of knowledge too about what there already exists; it's not easy. And yeah, when one has such a knowledge he may start avoiding all the altcoin projects because the chance for profit with them is historically slim ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Buy when looking at the chart can be somewhat useful to avoid buying right after a big pump. But overall DCA with basically no relation to the charts is a safer approach.
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Lucius
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March 16, 2022, 10:51:38 AM |
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@YellowSwap, it definitely makes sense to buy something cheap, and when it comes to cryptocurrency bear market or big corrections are a great investment opportunity. However, many see such a strategy as a problem due to the fact that they will have to wait a long time for some profit - and that is why most choose the opposite strategy of short-term investment at a time when prices are rising. And as for some good crypto projects, good luck with that - because finding one such project is the same as looking for a needle in a haystack, and I personally prefer to play the lottery once a week and hope that some pretty girl will draw my lucky numbers ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Taskford
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March 16, 2022, 11:07:57 AM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
To make sure not to enter on ATH you should now how to read the cart and can able to do technical analysis since from that you will be save on possible wrong entry. So for new traders learn this since this is important tool if you want to gain higher chance to gain profit in trading's and you can avoid to get hype by certain movement or get FOMO.
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sunsilk
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March 16, 2022, 11:15:03 AM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
And it's not just about entering at the right time for such projects but, also about the project for being legitimate. There are too many people that always fall for these projects that have been hype and enters at the hype. And when it starts to fall, that's the trend line goes down and value goes down as well which makes them think that the project is likely a scam which makes it look like rugpulling.
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cryptoaddictchie
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March 16, 2022, 12:07:00 PM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
Ofcourse we set to find or look on its history when it comes to price. Im sure everyone will look into it before entering buy orders. Sometimr its also good to buy when its go down from its ATH very far but the question there is, is the project gonna get come back with their upcoming plan or any some sort of good result or outcome? Its hard to rely on market making if whales gonna take a look on it. Fundamental is also one good thing to look at.
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Husires
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March 16, 2022, 12:48:02 PM |
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Waiting for the price to be low is like trying to catch the train quickly, you must determine the point of entry well or it will be the end. The question is how will that values be determined? Is it ATH value reached by the price? ATH during the last year, ATH value within 6 months or what? The buy position is a good strategy, but to create a successful one, you need a lot: - Determine the ideal platform with the lowest withdrawal price: Withdrawal fees will affect, especially if you intend to buy every period of time.
- Determine the right wallet: Keeping coins in exchanges is risky
- Determine the buying strategy with taxes: Bitcoin is subject to taxes, you should take this into account.
- Determine support and resistance points: You may buy Bitcoin quickly and cheaply, but the price remains unchanged for several months.
- Determine the percentage of purchase: Always keep a little cash because things may change for the worse side.
Therefore, determining the appropriate strategy is much more important than the purchase price.
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maydna
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March 16, 2022, 01:21:08 PM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
It is easy to say, but it is hard to do. We cannot find a good entry point easily to enter the market. Besides that, we are difficult to find the coin as many coins will tempt us to buy, and if we miss something, we will get it at a high price. That is what you will get if you want to find altcoins, but if you try with bitcoin, I think as long as the price is down and you have a red candle, you are good to buy, but if the price is down for more after you purchased, you don't have to panic because the price will be back again.
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mk4
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March 16, 2022, 02:13:32 PM |
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That's probably one of the worst advice I've ever seen concerning trading/investing. There are instances where entering in a position at an ATH is totally fine.
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CryptoATM
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March 16, 2022, 02:46:35 PM |
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Who bought Terra Luna at 49$ a week ago? Later this coin reach up to 120$ before retracing, I think this is a good example of what OP is talking about, we all know that Terra is big but if you look at the chart carefully you will see that there are good chances of recovery after every dips for now.
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Oshosondy
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March 17, 2022, 04:55:54 AM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
That is true, to be on the safest side, this is a good advise. The bulls prefer to buy more or again in the bear time when people that are not experienced will not buy but be afraid of more price dip and buy when the market is very green which is wrong. That's probably one of the worst advice I've ever seen concerning trading/investing. There are instances where entering in a position at an ATH is totally fine.
Someone on Reddit said he bought bitcoin at over $60000, I believe he is losing by now and full of regret. If he hodl, he will still gain but this can take over 2 or 3 or more years. Best advice is to buy the dip. Who bought Terra Luna at 49$ a week ago? Later this coin reach up to 120$ before retracing, I think this is a good example of what OP is talking about, we all know that Terra is big but if you look at the chart carefully you will see that there are good chances of recovery after every dips for now.
Terra Luna ATH was over $100 before falling to around $42, it increased back to around $106 not $120, but the price will differ from one exchange to another but I do not think the price difference should be so much. If it falled over $50%, that means you still bought the dip.
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hugeblack
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March 17, 2022, 10:57:26 AM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
This model will only work with Bitcoin, Ethereum, or a limited number of cryptocurrencies. 99% of cryptocurrencies fail to reach one tenth of old ATH that have been achieved, so even if you buy away from it, you will not make an additional profit. Also, BTC/USD is similar to Altcoin/USD chart or a lower curve in the long term, so the strategy of buying low is ideal for Bitcoin and identifying points of support and resistance would be ideal for that. for altcoins it is better to deal with them as speculation and nothing else.
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suzanne5223
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March 17, 2022, 07:09:20 PM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end
Knowing how crypto and wallet work doesn't mean you know everything and the last time there's a new update every day. when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
You have a point about reading the chart of project you wanted to invest in before investing in it but enter the market during the ATH price is not a good entry point. Before you make a good entry point, you need to have a clear target for your investment and this will determine a good entry point. I can invest in BTC now and have a target of selling when it next halving effect market. It is still a good entry point.
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BIT-BENDER
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March 17, 2022, 09:08:02 PM |
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After understanding what crypto is all about and how wallets work do not think that doing research is the end, when you find that good project look at the chart and make sure you aren't entering at a ATH, good entry point is when price is very far from ATH.
Some people bought BTC last year when it was at it's all time high, there was so much potentials that Bitcoin would grow even further, but that wasn't the case, Bitcoin has dropped to it's present price since then. So does that mean they have failed? Or it was a fruitless investment? Well no. Projects like Bitcoin would never stop surpassing it's current all time high, so what am say is stick to projects like Bitcoin, personally for me it's Bitcoin because the risk are lesser
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Daodex
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March 18, 2022, 03:45:05 PM |
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I understand you, a friend bought 500$ with of Apecoin a day ago and lost 70% of the money, that's because Apecoin did a airdrop to all bored ape NFT holders which sinked the value from 30$ per token to 7$ per token but right now it's recovering, my main point is always buy when the price is so down.
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masulum
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hmph..
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March 18, 2022, 04:29:00 PM |
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-snip- my main point is always buy when the price is so down.
Well, i think i don't agree with this points, Buying when the price drops, does not mean a good entry point. If you buy BTC at $55K, after it drops from $65K, that doesn't mean $55K is a good entry. however, with the current BTC market, since dropping from ATH, a good entry point is at $30K. If you "always" buy when the price drops, that means you may need more money to invest. Or you have to determine the right cut loss to minimize losses and also to buy back when the price drops (not at a good entry point). If the same thing happens again, then you also need to cut loss a second time and so on. It will be different if you buy when you find a good entry point, you may not cut loss too often, your position is really in the end zone of the correction at a certain price range for you to target take profit and buy back at the next good entry point. This is if we become a trader, but if we want to be a holder, buy when it goes down for accumulations assets and then we hold it for the next 4 years, then I agree to buy when it goes down. no matter the market now, because our target is still long.
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HOLD...
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mk4
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March 18, 2022, 04:53:34 PM |
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Someone on Reddit said he bought bitcoin at over $60000, I believe he is losing by now and full of regret. If he hodl, he will still gain but this can take over 2 or 3 or more years. Best advice is to buy the dip.
Sure if a certain person went all in on one purchase at $60k then we can say that he most probably just FOMO'd so it was somewhat a subpar move. But trying to buy dips could end up worse. Price dips? " oh this will drop more, I'll wait a bit more." lmao. DOLLAR. COST. AVERAGE.Also, we're not specifically talking about bitcoin here.
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Fivestar4everMVP
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March 18, 2022, 07:56:06 PM |
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No one can know good project.
Permit me to disagree with you mate, one can actually know a good project if one is a serious crypto investor, it's not a must to invest during crowdfunding, if during crowdfunding, you are unable to ascertain whether a project is good or bad, you can as well wait until the crowdfunding is over, this time, you can tell if they are serious or not. I have some really good projects I invested in while it was really early, and right now, am in good profit while still holding, from reading the whitepaper and research, I knew this projects were good before investing in them, doing otherwise means you are gambling with your money.
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Oshosondy
Legendary
Offline
Activity: 1568
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Gamble responsibly
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March 18, 2022, 10:32:55 PM |
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Sure if a certain person went all in on one purchase at $60k then we can say that he most probably just FOMO'd so it was somewhat a subpar move. But trying to buy dips could end up worse. Price dips? "oh this will drop more, I'll wait a bit more." lmao. DOLLAR. COST. AVERAGE.
Some people invest all their money into a coin, it is wrong though, it would have been better to have a simple but better strategy. One of the best strategy is to never invest all the capital at once, it is good to be on the safer side, example is dividing the investment capital into 4 and having a plan to invest some at a specific price and determining to invest more as the price falls. This has helped many people against doubts not to buy yet until they know they have missed the bull market.
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