Trade vs. HODL - avoid traps

[Chilwell]

Original Topic: Trade vs. HODL - avoid traps
Author:1miau

After all, We know say bitcoin get value well well, so we go need safe guard am and even if e fit dey possible self make we increase weytin we dey hold but if we wan do like that ba, Make we dey sure say we don avoid plenty traps wey dey.
One of this plenty traps na to fall for misconception e mean say make we no get wrong idea on how we go take increase the gain wey we dey get from trading our Bitcoin for better way.


Trade vs. HODL



Bitcoin's fundamentals make am not comparable to HODL because Bitcoin’s supply dey limited to 21M units itself. By HODLing, Bitcoin go fit increase likely in value long-term and HODLing na our safest way to dey make profit. Risk dey low and e go likely succeed.
But we go dey patient and e go dey helpful and dey safe for long-term gains instead wey you go rush am and the profit no go dey secure.  


Technical analysis dey risky

Some people don dey talk am say, to dey trade through technical analysis na e be better and obonge way to take make money na lie because e dey very very risky, especially for short terms (day trading). if them go fit predict technical analysis, e for dey easy to take credit, give am to expert person wey don they for this business and e go get gain.
Dey careful make you no go fall for that kind thing, na scam!
Because if technical analysis na better way to take get gain , everybody for don turn to millionaires. Coder for don code all these "technical analysis patterns" make them fit trade according to them. That type of program no dey exist because e no dey work. Them no fit predict technical analysis and e no dey reproduce better thing.
Like xkcd explain am: technical analysis dey more like a pseudo science:


https://xkcd.com/2101/


HODL instead!

When we dey HODLing, we de take advantage of Bitcoin scarcity. Bitcoin dey limited to 21 M BTC. and every 210,000 blocks, block rewards (for people wey de mine) e go con dey like say dey don cut away some parts, e go dey reduce new issued unit of Bitcoin go be like every 4 years. By HODLing, we just de take advantage from Bitcoin scarcity because Bitcoin na something wey dey good to dey save. E fit dey easy to disappear for Bitcoin price but as plenty people dey wey them get to hold, we go dey see say the price don dey better and e don dey more stable-Demand go dey increase for Bitcoin even more as a store of value.

E fit take some years before we go fit see some better gain as per say Bitcoin price don de move for cycle for over 4years now but as e be like this HODLing don prove say e de reliable (and e go make Bitcoin no disappear like dat again).

tl;dr:
Better HODL, don't trade!  

[1714467529]

1714467529

[1714467529]

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[Hatchy]

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Well it's nice to see that you've made another translation of another wonderful thread here in our local board. So far you've been the best translator here in the nija board. I also wanted to bring to your notice that this thread has already been translated  some time ago TRADE VS HODL, make we avoid wahala.. No offense but I would advice you try to make research about threads that have already been translated before making another to avoid repeated translations on the local board. It's nice ones again to have you as the best translator, keep up the good work.

[Chilwell]

~

Well it's nice to see that you've made another translation of another wonderful thread here in our local board. So far you've been the best translator here in the nija board. I also wanted to bring to your notice that this thread has already been translated  some time ago TRADE VS HODL, make we avoid wahala.. No offense but I would advice you try to make research about threads that have already been translated before making another to avoid repeated translations on the local board. It's nice ones again to have you as the best translator, keep up the good work.

Thank so much for letting me know, but before I make any translation I make the Author aware first before I proceed with any translation and the author will reserved a space so that any member of that country will know that someone is already doing the work.
I think the author is not aware of your translation if not I will see it, for the sake of next time try and inform the author about you interest in the translation. Thank you.

[Best-mary]

Original Topic: Trade vs. HODL - avoid traps
Author:1miau

After all, We know say bitcoin get value well well, so we go need safe guard am and even if e fit dey possible self make we increase weytin we dey hold but if we wan do like that ba, Make we dey sure say we don avoid plenty traps wey dey.
One of this plenty traps na to fall for misconception e mean say make we no get wrong idea on how we go take increase the gain wey we dey get from trading our Bitcoin for better way.


Trade vs. HODL



Bitcoin's fundamentals make am not comparable to HODL because Bitcoin’s supply dey limited to 21M units itself. By HODLing, Bitcoin go fit increase likely in value long-term and HODLing na our safest way to dey make profit. Risk dey low and e go likely succeed.
But we go dey patient and e go dey helpful and dey safe for long-term gains instead wey you go rush am and the profit no go dey secure.  


Technical analysis dey risky

Some people don dey talk am say, to dey trade through technical analysis na e be better and obonge way to take make money na lie because e dey very very risky, especially for short terms (day trading). if them go fit predict technical analysis, e for dey easy to take credit, give am to expert person wey don they for this business and e go get gain.
Dey careful make you no go fall for that kind thing, na scam!
Because if technical analysis na better way to take get gain , everybody for don turn to millionaires. Coder for don code all these "technical analysis patterns" make them fit trade according to them. That type of program no dey exist because e no dey work. Them no fit predict technical analysis and e no dey reproduce better thing.
Like xkcd explain am: technical analysis dey more like a pseudo science:


https://xkcd.com/2101/


HODL instead!

When we dey HODLing, we de take advantage of Bitcoin scarcity. Bitcoin dey limited to 21 M BTC. and every 210,000 blocks, block rewards (for people wey de mine) e go con dey like say dey don cut away some parts, e go dey reduce new issued unit of Bitcoin go be like every 4 years. By HODLing, we just de take advantage from Bitcoin scarcity because Bitcoin na something wey dey good to dey save. E fit dey easy to disappear for Bitcoin price but as plenty people dey wey them get to hold, we go dey see say the price don dey better and e don dey more stable-Demand go dey increase for Bitcoin even more as a store of value.

E fit take some years before we go fit see some better gain as per say Bitcoin price don de move for cycle for over 4years now but as e be like this HODLing don prove to say e de reliable (and e go make Bitcoin no disappear like dat again).

tl;dr:
Better HODL, don't trade!  

Nice translation OP. But you know some people are good with this trading and again in as much as we know holding is good there other little things people can do to earn small small as they hold.

What do I mean, some can try using Spot trading? Where you can buy low and sell high. This trading is very much ok for those who are not always available to trade and also if we talk about holding, we should know that buying at a low price is more advantageous than buying at the top when others are selling. I do all sha and most times use smart trend to help me know what I'm doing

[Chilwell]

Nice translation OP. But you know some people are good with this trading and again in as much as we know holding is good there other little things people can do to earn small small as they hold.

What do I mean, some can try using Spot trading? Where you can buy low and sell high. This trading is very much ok for those who are not always available to trade and also if we talk about holding, we should know that buying at a low price is more advantageous than buying at the top when others are selling. I do all sha and most times use smart trend to help me know what I'm doing

If you don't have money to buy and HODL then you can trade but here they are trying to tell us an important of HODLing, when we HODL bitcoin go com dey scare and that will allow the price dey raise go up and the demand too go increase, trading only benefit individual while HODLing benefits the entire market and every body wey dey involved.

Some can use Spot trading yes, but it involves buying and selling which is mostly used by day traders but you will gain little profit, I will advise you to go for HODLing for you to benefit huge advantage wey bitcoin took to appreciate in future.

[DaNNy001]

Nice translation OP. But you know some people are good with this trading and again in as much as we know holding is good there other little things people can do to earn small small as they hold.

What do I mean, some can try using Spot trading? Where you can buy low and sell high. This trading is very much ok for those who are not always available to trade and also if we talk about holding, we should know that buying at a low price is more advantageous than buying at the top when others are selling. I do all sha and most times use smart trend to help me know what I'm doing

If you don't have money to buy and HODL then you can trade but here they are trying to tell us an important of HODLing, when we HODL bitcoin go com dey scare and that will allow the price dey raise go up and the demand too go increase, trading only benefit individual while HODLing benefits the entire market and every body wey dey involved.

Some can use Spot trading yes, but it involves buying and selling which is mostly used by day traders but you will gain little profit, I will advise you to go for HODLing for you to benefit huge advantage wey bitcoin took to appreciate in future.

Even if you comot the part say holding dey make Bitcoin scarce sef we need to understand something about actually holding and trading your coins for profits, the two things are different because with one there is probability and with the other there is certainty just that time is a major factor to the second one. If you are a trader then the chances of you actually losing coins is there because there is no guarantee that on your every try it will come out successful same thing as gamble, that's why many people actually tag it as an advance form of gambling while with holding there is certainty that your profits is going to come only that there is a time factor because holding of coins for profits is tied to how the market cap price value so it's depends on your patience to HODL till the market becomes favourable, for me HODLing is more preferable because the certainty is there already.

[rachael9385]

Trading and holding nah two different things way we supposed understand mostly the Bitcoin newbies, some of them think am say Bitcoin trading nah one of the best part to make profits from inside Bitcoin but fir me I no agree with that.
Sha everybody get their own reasons so them go fit choose how them like to go with their investment plans, Bitcoin investment no dey guaranteed but the investment aspect of Bitcoin dey more safer than the trading side.
Bitcoin trading just dey like gamble way without our money inside we no go get anything or lose anything, however, most of us here go still talk am say the whole concept about Bitcoin nah gamble but fir me there are safer side and dangerous side inside crypto (Bitcoin).