The reason of why Bitcoin is good for trading (for me)

[justdimin]

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here?

That's not called trading but gambling. You are basically gambling without knowing which side the price should go.
Although I don't recommend this kind of trading, it's good to know you are willing to hold such a long time of "next super cycle".
Most people panic sell at times of high volatility and using stop loss is a must when trading. So I would advise you to start using stop losses soon.

I think stop loss is important when you are trading that is true, but when you are making quick trades, trades that you open up and close in a single day, should not have stop loss anyway. Because, if you are doing that then it means you should be able to not lose much anyway, people who trade daily are already on top of the market and when they see a movement they should be able to move manually without a trouble.

However, if they are focusing on how they could build something that will be a long term approach then they can consider stop loss. For example I am a long term investor, I do not personally have stop loss but I would understand people who do. That is how they should be considering it and then it may make more sense.

[monineklutak]

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here?

That's not called trading but gambling. You are basically gambling without knowing which side the price should go.
Although I don't recommend this kind of trading, it's good to know you are willing to hold such a long time of "next super cycle".
Most people panic sell at times of high volatility and using stop loss is a must when trading. So I would advise you to start using stop losses soon.

I think stop loss is important when you are trading that is true, but when you are making quick trades, trades that you open up and close in a single day, should not have stop loss anyway. Because, if you are doing that then it means you should be able to not lose much anyway, people who trade daily are already on top of the market and when they see a movement they should be able to move manually without a trouble.

However, if they are focusing on how they could build something that will be a long term approach then they can consider stop loss. For example I am a long term investor, I do not personally have stop loss but I would understand people who do. That is how they should be considering it and then it may make more sense.

Yes, after all, every trader or investor has their own strategy and it should be like that,
they have to know what to do and need to apply stop loss or not,
what is clear is that each person has his own decision and is responsible for his decision.

[cydrix]

The volatility you trade typically affects the price of bitcoin. In other words, you never trade according to the rules; instead, you only do so when a few candles are in the red. However, I'm not sure how long you'll continue to succeed in trading this method. Because if you want to trade, you should first acquire a sufficient level of trading understanding. You will never benefit from trading based on these presumptions about the state of the market. Don't just rely on your own ideas; study something, gather a sufficient amount of ideas, and then invest. Only then will you notice that trading is successful for you.

[TheUltraElite]

OP is doing the long term game of buying low and selling high, it is safe and easy to manage for a busy individual who has a job that usually takes up the day hours. It is also the method told to newbies as a starting off attempt in the exchange and their trading journey.

Keeping focus on a BTC/Stablecoin pair essentially means using fiat to buy/sell it, this is advantageous than using another altcoin which might be influenced by its secondary markets against other crypto. Although this choice will vary among other users based on the acceptance of stablecoins among the community.

I think most of the long term traders would agree with the OP but maybe not on the stablecoin part.

[wajik-tempe]

There may be individuals who trade completely on emotion and instinct without using charts, candlesticks, or market research; nonetheless, this strategy is often seen as dangerous and speculative. Without a plan or grasp of market dynamics, trading can result in huge financial losses. Successful trading frequently necessitates a mix of elements, such as market knowledge, chart and indicator analysis, risk management approaches, and discipline. Before engaging in speculative activities, it is important to understand about trading methods, technical analysis, and risk management.

[tjtonmoy]

Is there anyone like me here?

You will find many like you here. I guess they do the same. But the trading is a really fun thing if you take the right approach. But I won't recommend you to do so as it contains risks that can make all your asset go poof.
If you like to buy, sell in BTC/USDT pair, then just start doing DCA. If you don't know about it, then let me explain. Dollar Cost Average aka DCA is a process where you put a fixed amount of money after certain period of time despite the market price. This time could be hours, days, weeks etc. And the amount is up to you. That way, you will make a good profit in the long run. You can learn more about DCA on the internet. Do your own research before doing anything.

[goaldigger]

The volatility you trade typically affects the price of bitcoin. In other words, you never trade according to the rules; instead, you only do so when a few candles are in the red. However, I'm not sure how long you'll continue to succeed in trading this method. Because if you want to trade, you should first acquire a sufficient level of trading understanding. You will never benefit from trading based on these presumptions about the state of the market. Don't just rely on your own ideas; study something, gather a sufficient amount of ideas, and then invest. Only then will you notice that trading is successful for you.

This is not an actice trading for me, hence a big chance for him to make profit as he is planning to sell next bull run. If OP decides to trade actively then that is the time for him to master technical analysis because trading works with that strategy. If OP want’s to deal with volatility he should be more informed that Bitcoin can also go against the trend and there’s a tendency to lose money. Trading requires a lot of time for your analysis, there should be no rush when making profit, perfect timing should be observe.

[Dr.Osh]

well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.

[awik p]

bitcoin is the most difficult coin to manipulate, so it is more feasible for short-term trading, actually not only bitcoin but there are several altcoins that are also worthy of trading or even investing. for example, we can see a new project where suddenly the price skyrocketed and suddenly the price dumped, then how do we do an analysis on it, while support and resistance seem unable to be used as a reference for price action

[Kadal Ijo]

Before getting to know crypto trading I had been trading on forex for almost 3 years so when I saw price fluctuations in crypto I would not use large amounts of money, the reason for moving from forex trading to crypto trading was because the profit potential was huge compared to forex trading, like us know that fluctuations in forex trading prices are very small so if we trade with small capital it will be difficult to profit.

[irhact]

well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.

Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.

Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.

[Inwestour]

OP is doing the long term game of buying low and selling high, it is safe and easy to manage for a busy individual who has a job that usually takes up the day hours. It is also the method told to newbies as a starting off attempt in the exchange and their trading journey.

Keeping focus on a BTC/Stablecoin pair essentially means using fiat to buy/sell it, this is advantageous than using another altcoin which might be influenced by its secondary markets against other crypto. Although this choice will vary among other users based on the acceptance of stablecoins among the community.

I think most of the long term traders would agree with the OP but maybe not on the stablecoin part.

Long-term trading in bitcoin is very similar to investing in bitcoin. We also need to choose a good time to buy and also wait for the right time to sell. At this time, nothing will stop us from going to our main job, since long-term trading does not require us to constantly monitor the situation on the market.

I once discussed this question in another topic, is there a significant difference between long-term trading and investing in bitcoin, it seems that they are really very close in meaning. The main difference may be that the investor can wait much longer for the set goal than the trader, if the trader's goal is bitcoin at a price of 100k, then the trader can choose intermediate values ​​and take profits depending on the market situation, when he sees what he already has profit, but also sees that the trend is changing.

[savetheFORUM]

I think stop loss is important when you are trading that is true, but when you are making quick trades, trades that you open up and close in a single day, should not have stop loss anyway. Because, if you are doing that then it means you should be able to not lose much anyway, people who trade daily are already on top of the market and when they see a movement they should be able to move manually without a trouble.

However, if they are focusing on how they could build something that will be a long term approach then they can consider stop loss. For example I am a long term investor, I do not personally have stop loss but I would understand people who do. That is how they should be considering it and then it may make more sense.

Even if you are a day trader and making manual trades and are online all the time, stop-loss is still important and plays its role, especially if you are trading coins or tokens that are highly volatile since day traders or scalpers generally look for volatility that provides quick profits, but sometimes, the trade and the market can go totally against you.

So when you buy a token or a coin that is too volatile and it suddenly gets a big dump, you can be in trouble and have a percentage of your capital stuck, but if you have a stop-loss set, your losses will be minimal and your capital will be free so that you can make more trades and then recover that loss.

[famososMuertos]

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

This makes sense and at least, you already understand what you can do. So, don't force yourself to get involved in trading altcoins which might provide a higher risk. Bitcoin's volatility is actually high. In this case, trading for short terms might be good, if in the spot market, little by little. But not in futures trading or other types that use a leveraged system. Short term trading itself is still risky, but as long as we understand and can anticipate various things in trading, this won't be a big problem. To be sure, do what we can with a variety of considerations and analysis that is good enough.

I think your comment is a bit distant from what trading is about, it's mostly about risk and if you're afraid of that, just don't do it.

That is, if you're just doing is placing an order and taking a profit, that's just a trade order but it's not being a pro trader, so, put many order book, (bids, asks). What most people do is not really be a trader.

Leverage is risky, yes, but we return to the point if you are going to dedicate yourself to asset trading, do not rule it out, that is, I always hear people say, short selling yes, no, leverage most say no, and I think it is because they do not have the capital or the knowledge, the key in any type of risk is the capital that sustains that risk,  but they want to have the risk 1:1 or consequently the ever ROI+.

[danherbias07]

Yes, there are a lot of traders like you here.
I did this before but sometimes it could be stressful monitoring the price each day or worse every hour just to check the fluctuation of Bitcoin. Well, if it does serve you well then keep it up. But do remember, there will be times that you will have to wait longer while the price range you set is not reached, and if you are only trading one pair it could become boring in the next days to come.
The good part here is you are focused on just one pair which means it will be like your pet that you will nurture and monitor every moment you have free time. Many traders don't do this anymore and try to do multi-trades to maximize their profits but if you do have the patience to stick to one then good for you.

[Games.Bitcoin]

Bitcoin is good for trading due to several reasons. Firstly, its decentralized nature eliminates the need for intermediaries like banks, allowing for faster and more direct transactions. Additionally, Bitcoin operates on a global scale, providing ample liquidity and allowing traders to access markets 24/7. Its high volatility presents opportunities for profit through price fluctuations, and its limited supply ensures scarcity, potentially leading to long-term value appreciation. Moreover, Bitcoin's pseudonymous transactions offer a level of privacy, and the blockchain technology behind it provides transparency and security. Overall, Bitcoin's unique characteristics make it an attractive asset for trading, offering potential rewards and diversification in investment portfolios.

[Plaguedeath]

bitcoin is the most difficult coin to manipulate, so it is more feasible for short-term trading, actually not only bitcoin but there are several altcoins that are also worthy of trading or even investing.

I disagree, if Bitcoin is the most difficult coin to manipulate, then it's not more feasible for short term trading because altcoins has a chance to give better profit due to pump and dump. The key of trading is making money in short term, but since altcoins is centralized and there's a chance the coin would become a dead coin, I can't accept that risk.

Why is bitcoin so good, if not a secret? In fact, after all, any cryptocurrency usually repeats the bitcoin rate, so everything is almost the same.

Not really, Bitcoin price do affect most of altcoins, but there are already many top 10 coins had a hack incident and the price never comeback e.g. LUNA, BRC-20 tokens.

[jostorres]

well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.

Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.

Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.

We shouldn't really compare all altcoins with meme coins but you are obviously right that if a token or a coin has a very large supply, it will most definitely have a very low price making the token deflationary for most of its lifetime. Such tokens barely manage to get high price gains no matter how much the market moves up and down.

But, not all altcoins are like that, there are also tokens and coins which have high supplies but have good prices and good enough trading volumes because they are backed by strong projects with strong fundamentals.

[safar1980]

Why is bitcoin so good, if not a secret? In fact, after all, any cryptocurrency usually repeats the bitcoin rate, so everything is almost the same.

I think you can choose any coin if you buy for $250 let's say. If $250,000, then Bitcoin will allow you to buy and sell without much slippage, because this coin always has a lot of liquidity.
And not all coins follow the price chart of bitcoin, but bitcoin is always available for trading in different pairs.

[Smitty Werben Man Jensen]

well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.

Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.

Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.

We shouldn't really compare all altcoins with meme coins but you are obviously right that if a token or a coin has a very large supply, it will most definitely have a very low price making the token deflationary for most of its lifetime. Such tokens barely manage to get high price gains no matter how much the market moves up and down.

But, not all altcoins are like that, there are also tokens and coins which have high supplies but have good prices and good enough trading volumes because they are backed by strong projects with strong fundamentals.

This is the importance of having knowledge because if not then we are just FOMO and in the end we lose,
strong project backed coin is worth to invest and maybe it will be profitable,
Investing in meme coins for me is not a good option but everyone has their own view on it.