Road to 100k?

[JayJuanGee]

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

[pawel7777]

Regarding Mt Gox distribution and its potential effect on the price, there is a subreddit dedicated to Mt Gox insolvency, where there was a poll for the creditors to see whether or not they intend to sell:



According to this, only less than 19% said they'd dump all of it at once. Almost 56% said they would not sell anything.

Of course, this poll can be unreliable for multiple reasons, so just take it for what it's worth.

[Moreno233]

Regarding Mt Gox distribution and its potential effect on the price, there is a subreddit dedicated to Mt Gox insolvency, where there was a poll for the creditors to see whether or not they intend to sell:



According to this, only less than 19% said they'd dump all of it at once. Almost 56% said they would not sell anything.

Of course, this poll can be unreliable for multiple reasons, so just take it for what it's worth.

This is the a good development and I agree with the poll. One reason I think the poll is a reflection of reality is the fact that the victims of the hack have learnt to survive without the money, most of them if not all, never thought they will be getting the money back. So they might not be in a hurry to sell their coins. Another thing too is that they have seen how great Bitcoin have performed and the potential of greater performance in the future. In other words, they have seen what their little investment have amounted to so what better way of saving for the future could they have ever seen? So many will hold and not sell, just like what the poll said.

The bulk of those that will sell might be those who have urgent needs which the money can solve and few others who might just want to sell to be sure they can actually cash out the money. I won't be surprise if someone of those who will sell to confirm they can cash out the money will still buy back Bitcoin with the part of the money. This is a possibility but not certain but the truth still remain that a good number of them will hold a good part of their Bitcoin which is good for the market which in reality will not be too perturbed even if all of them dump.

[Spaceman1000$]

Ordinary nobody goes into a business or investment with the mindset of losing, but however for the business of trading it is inherently required that as a beginner you must get a mentor or somebody who teaches you ways and means on how to go about trading, so in teaching you, he will tell you about the fact that you will get losses along the line, because the market variance and force's can work against your predictions anytime.
So for me your mentor should be your guide so as to reduce those risk, so you don't just walk into trading without caution inside you.

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

My decision to pause my Bitcoin trading at least for now and concentrate more on building a Bitcoin portfolio through long term HODL was not a hasty one. I have thought about it properly, following my experience in trading. I have tried a lot of things including paying for several mentorships, using Youtube and many other resources and practicing on demo which usually yield good results but when real money is involved, it is a different ball game. I'm not saying that it is impossible to succeed as a trader but the process is not just a straight forward one like most mentors and Youtubers will make you to believe. Of course the risk is also in another level that should be a huge source of concern for anyone aspiring to take that route.

Another thing I also noticed while trading is that you can make profits for one month of trading and lose all in few bad trading days which means work done becomes zero... no progress, all wasted efforts. This was what made me to sit down and analyze the process again and then decided that instead of this back and forth, let me change strategy that will give me better results. So, for me, trading is not bad but for now, I will have to focus on what is working fine and giving me peace of mind.

I was not discouraging anybody from HODLing or investing in bitcoin, as investing in bitcoin is one of my primary responsibilities in my constituency, especially conscientizing the people i can about the need to invest in bitcoin. But what I was pointing out was the fact that, for any beginner that fathoms the idea of wandering into trading, the first projections that will be placed on your training table as a beginner are the losses that are involved in trading,  which are the prerequisite knowledge you need to equip yourself before venturing into trading, however for the fact that you didn't succeed in trading, doesn't mean others will not.

Of course investment in bitcoin and holding is less risky compared to trading, but some persons that have the mind to trade wouldn't be patient enough to hold, so the options are there for everyone to choose

[Odohu]

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

You have given a good summary to this discussion which comes back to personalizing the knowledge and information to be able to work out a system that works for the individual, this being married to our financial status, risk appetite and targets.

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

I will try trading again sometime in the future when I would have established the kind of portfolio I want in Bitcoin. The suspension is just to avoid any distraction and to enable me properly manage my finances. I know that it could be a wonderful opportunity to make good morning within a reduced interval of time but I have seen that it is not easy to become a consistent and profitable trader, the reason I am taking my time too.

Furthermore, I have noticed that trading is more of a psychological game which will become problematic if there is any form of desperation to make profits. In other words, as soon as one is fixed on making money quickly, then the fear of losing will creep in and this will do more damage than good. I don't want to trade with funds I'm afraid of losing, so I'm working out a method to enable me achieve this. 

[JayJuanGee]

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

You have given a good summary to this discussion which comes back to personalizing the knowledge and information to be able to work out a system that works for the individual, this being married to our financial status, risk appetite and targets.

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

I will try trading again sometime in the future when I would have established the kind of portfolio I want in Bitcoin. The suspension is just to avoid any distraction and to enable me properly manage my finances. I know that it could be a wonderful opportunity to make good morning within a reduced interval of time but I have seen that it is not easy to become a consistent and profitable trader, the reason I am taking my time too.

Furthermore, I have noticed that trading is more of a psychological game which will become problematic if there is any form of desperation to make profits. In other words, as soon as one is fixed on making money quickly, then the fear of losing will creep in and this will do more damage than good. I don't want to trade with funds I'm afraid of losing, so I'm working out a method to enable me achieve this. 

Surely many of us understand and appreciate that trading takes more particular kinds of skills that can take quite a long time to build up so that you do not lose money and also that you might be able to make more money through trading than by merely holding.  So since many of us realize that bitcoin is such a great asset to hold, it hardly makes any sense to try to trade it.

So, frequently I suggest to build up your bitcoin holdings to a certain comfortable size, and then if after you have achieved such comfortable size, then maybe you could figure out some kind of systems to have a smaller budget (such as a budget that is less than 10% of your bitcoin holdings, or maybe some other reasonable level of practice budget) to trade or to practice trading... but yeah if you do not set reasonable limits on yourself and also make sure that you are investing a sufficient amount, there could be some slippery slope dynamics with your trading that devolves too much into gambling rather than trading.. .. so in that regard there are some guys that figure out profitable trading systems.. they are likely quite rare, yet we cannot necessarily stop folks from exploring their interests and their curiosities.

[ajiz138]

Regarding Mt Gox distribution and its potential effect on the price, there is a subreddit dedicated to Mt Gox insolvency, where there was a poll for the creditors to see whether or not they intend to sell:



According to this, only less than 19% said they'd dump all of it at once. Almost 56% said they would not sell anything.

Of course, this poll can be unreliable for multiple reasons, so just take it for what it's worth.

Because creditors or bitcoin recipients from Mt.gox realize the potential for bitcoin to be bullish next year, it will be more for HODL than selling it, I'm sure they have been paying attention to the market for a long time every cycle, so now is the right time where creditors receive BTC they will have a lot of profit when not selling it now.

I know this opinion trail will not be accurate, whether the voting is the creditors or not, but my own opinion is that more HODL than BTC is disposed of by them.
The BTC redistribution by Mt.gox will not impact this market a little bit for now.

[I_Anime]

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

That`s right is better to learn with real money than demo account when it comes to trading , but make sure the money you are using is something you can afford to lose. Most people believe after using demo account to learn all they need to become successful in trading they are good to go, but they always forget one thing that there`s a big different when real money is on the line , that`s where emotions management usually comes out . Because is one of the most common challenge traders do face , not being able to manage your emotions, but when you take your time and learn with real money you will be able to  handle somethings easily while trading.

But still either you a trader or an investor aslong you are in this space it is always advisable to have some nice bitcoin stashes in your portfolio in order to partake in this wonderful adventure in bitcoin investment. 

[Btcdeybodi]

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much.  

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

That`s right is better to learn with real money than demo account when it comes to trading , but make sure the money you are using is something you can afford to lose. Most people believe after using demo account to learn all they need to become successful in trading they are good to go, but they always forget one thing that there`s a big different when real money is on the line , that`s where emotions management usually comes out . Because is one of the most common challenge traders do face , not being able to manage your emotions, but when you take your time and learn with real money you will be able to  handle somethings easily while trading.

But still either you a trader or an investor aslong you are in this space it is always advisable to have some nice bitcoin stashes in your portfolio in order to partake in this wonderful adventure in bitcoin investment.  

Inasmuch I don't like being involved in anything that will cause me emotional trauma, I would instead stick to investments in Bitcoin than chose trading over investment because as far as you have been involved in trading and you encountered real losses unlike the way it looks easier for those who learn trading using a demo account, there is this phobia you gonna have even if you later decides to start investing in Bitcoin because you begin to feel the stigma you had while trading might also resurface while investing, so it's better you don't get into that feeling of stigmatization at all by developing your first interest in owning an investment in Bitcoin.

Don't gamble with your mindset because that is the powerhouse of your approach towards positivity or negativity so when you open your mind to situations that leads you to negative emotions, it's always difficult to recover unlike someone that chooses positivity and rest of mind so this is the more reason why it is advisable to engage more in Bitcoin investments than trading. Investing in Bitcoin is quite safer and easier to understand because you won't feel pressured or always checking up on the activities in the market as all you need do is just to apply the right strategies at every point in your investment and you take a pop corn and drink water. Your mind will be at ease as you have nothing to worry about all the time.

[Kliss]

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much.  

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

That`s right is better to learn with real money than demo account when it comes to trading , but make sure the money you are using is something you can afford to lose. Most people believe after using demo account to learn all they need to become successful in trading they are good to go, but they always forget one thing that there`s a big different when real money is on the line , that`s where emotions management usually comes out . Because is one of the most common challenge traders do face , not being able to manage your emotions, but when you take your time and learn with real money you will be able to  handle somethings easily while trading.

But still either you a trader or an investor aslong you are in this space it is always advisable to have some nice bitcoin stashes in your portfolio in order to partake in this wonderful adventure in bitcoin investment.  

Trading is of no difference with gambling,  As a trader learning with real cash or money you can afford to loose will only help in managing emotional aspects. There is still other aspects and skills to improve on to be a successful trader. Trading is just too complex, it fetches good profits but there are only few folks that can achieve profits, very few.

Buying bitcoin is better because it ensures that it's in your possession, investing in Bitcoin with money you can afford to loose is better than risking it in trading. There is no need  to be wasting money, even though its money we can afford to loose, Because trading with real money doesn't guarantee an individual to be successful in trading. When you keep loosing money it becomes frustrating no matter how little the amount might be why not use that money to buy Bitcoin to your possession with time you can grow your accumulation and make profits rather than wasting it on trading that is very complex and doesn't guarantee possession of bitcoin.

[arwin100]

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

You have given a good summary to this discussion which comes back to personalizing the knowledge and information to be able to work out a system that works for the individual, this being married to our financial status, risk appetite and targets.

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

I will try trading again sometime in the future when I would have established the kind of portfolio I want in Bitcoin. The suspension is just to avoid any distraction and to enable me properly manage my finances. I know that it could be a wonderful opportunity to make good morning within a reduced interval of time but I have seen that it is not easy to become a consistent and profitable trader, the reason I am taking my time too.

Furthermore, I have noticed that trading is more of a psychological game which will become problematic if there is any form of desperation to make profits. In other words, as soon as one is fixed on making money quickly, then the fear of losing will creep in and this will do more damage than good. I don't want to trade with funds I'm afraid of losing, so I'm working out a method to enable me achieve this. 

Surely many of us understand and appreciate that trading takes more particular kinds of skills that can take quite a long time to build up so that you do not lose money and also that you might be able to make more money through trading than by merely holding.  So since many of us realize that bitcoin is such a great asset to hold, it hardly makes any sense to try to trade it.

So, frequently I suggest to build up your bitcoin holdings to a certain comfortable size, and then if after you have achieved such comfortable size, then maybe you could figure out some kind of systems to have a smaller budget (such as a budget that is less than 10% of your bitcoin holdings, or maybe some other reasonable level of practice budget) to trade or to practice trading... but yeah if you do not set reasonable limits on yourself and also make sure that you are investing a sufficient amount, there could be some slippery slope dynamics with your trading that devolves too much into gambling rather than trading.. .. so in that regard there are some guys that figure out profitable trading systems.. they are likely quite rare, yet we cannot necessarily stop folks from exploring their interests and their curiosities.

But what I think the people could able to handle this are those who have deep pocket and so eager to learn those technicalities whatever it takes or scenarios they are facing on. And I believe that not everyone could able to handle that, since usually people who came into trading are just been hype on the idea that there's quick profit for buying low and sell when price goes up on their favorite coins they are trading, but realize that everything is not easy and they get a lot of stress and pressure for following each movements also trends since if they don't do that they will just lose their money for taking bad actions on what they are doing.

That's why its really good that bitcoin holding option is present and there's a working strategy which people could use to make everything in good place then engage with less stressful activities since the only thing they need is to be consistent on their accumulation and follow the strategy they are working on. There are times before which I think gambling and trading is the same for instances that sometimes we win and there are times we lose our money for that activity.

[Moreno233]

I think the hopes of many people about Bitcoin reaching 100k have been rekindled by the recent market conditions. It got to a point that some people made comments here that suggested that they had given up on Bitcoin reaching 100k due to prolong consolidation of the market when it was ranging between 65k upper limit and 53k lower limit.

I was among those who supported the notion that instead of losing hope over the prolonged market consolidation, people should use that as opportunity to buy more Bitcoin at lower prices using buying the dips or the DCA method or a combination of both. Some people took that direction and today they are happy seeing the market make huge progress as it should be. The advantage we have being in this for is that we learn many things and whatever the market is doing now is what it did in the past so people who are new here have the opportunity to learn from those who have had such experience.

[JayJuanGee]

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. 

You have given a good summary to this discussion which comes back to personalizing the knowledge and information to be able to work out a system that works for the individual, this being married to our financial status, risk appetite and targets.

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

I will try trading again sometime in the future when I would have established the kind of portfolio I want in Bitcoin. The suspension is just to avoid any distraction and to enable me properly manage my finances. I know that it could be a wonderful opportunity to make good morning within a reduced interval of time but I have seen that it is not easy to become a consistent and profitable trader, the reason I am taking my time too.

Furthermore, I have noticed that trading is more of a psychological game which will become problematic if there is any form of desperation to make profits. In other words, as soon as one is fixed on making money quickly, then the fear of losing will creep in and this will do more damage than good. I don't want to trade with funds I'm afraid of losing, so I'm working out a method to enable me achieve this. 

Surely many of us understand and appreciate that trading takes more particular kinds of skills that can take quite a long time to build up so that you do not lose money and also that you might be able to make more money through trading than by merely holding.  So since many of us realize that bitcoin is such a great asset to hold, it hardly makes any sense to try to trade it.

So, frequently I suggest to build up your bitcoin holdings to a certain comfortable size, and then if after you have achieved such comfortable size, then maybe you could figure out some kind of systems to have a smaller budget (such as a budget that is less than 10% of your bitcoin holdings, or maybe some other reasonable level of practice budget) to trade or to practice trading... but yeah if you do not set reasonable limits on yourself and also make sure that you are investing a sufficient amount, there could be some slippery slope dynamics with your trading that devolves too much into gambling rather than trading.. .. so in that regard there are some guys that figure out profitable trading systems.. they are likely quite rare, yet we cannot necessarily stop folks from exploring their interests and their curiosities.

But what I think the people could able to handle this are those who have deep pocket and so eager to learn those technicalities whatever it takes or scenarios they are facing on.

Your point seems misleading to me.  I doubt that you need deep pockets in order to learn to trade or to become good at it and/or profitable.

More than anything, you do likely need time and probably a bit of smartness to figure out how to use various trading tools to your advantage, including that you might well end up using various shitcoins as some of your trading tools.

Traders might be smarter than investors in various ways, but the mere fact that you are smart does not mean that you will make money, and it could take quite a bit of time to create and implement various systems that end up long term causing the trading to be more profitable than a more strict accumulation/investment approach to bitcoin... especially long term.. since there can even be quite a few years of streaks of profitability, yet push comes to shove to be able to get through a cycle or two and still be able to compare that trading ended up being more profitable than what might have had been a more straight-forward and strict accumulation/investment approach to BTC.

And I believe that not everyone could able to handle that, since usually people who came into trading are just been hype on the idea that there's quick profit for buying low and sell when price goes up on their favorite coins they are trading, but realize that everything is not easy and they get a lot of stress and pressure for following each movements also trends since if they don't do that they will just lose their money for taking bad actions on what they are doing.

I agree with all of this, and surely the folks with lower levels of capital might also be trading beyond their capital, so they likely get impatient and devolve into gambling rather than trading, so it likely takes a lot of discipline to build up a investment portfolio (including building up the BTC portion of that) when starting with lower levels of capital, and I am not even proclaiming that trading is a good way to use time, since getting an income sources and building capital can be good things for beginners to do prior to trading, yet it is up to each person to figure out how they want to use their time and to attempt to determine if they can generate more cashflow by trading as compared with having some other sources of income so that they can pay for their living expenses through their non-trading sources of income.. so yeah, people do all kinds of dumb shit to suggest that they are living off of their trading, and so both generating an income to pay for living expenses through trading and at the same time building an investment portfolio can be quite difficult to accomplish... and frequently traders deceive themselves in terms of the sustainability or even the preferability of their own trading, income generating and/or investing practices.. Sometimes when they are in the midst of all of it, they might not even be able to recognize and/or appreciate their own practices as compared to what maybe would be better and/or best practices.. .. and surely there is likely not even one exact best practice, since any practice, whether trading and/or investing has to likely be tailorized to the persons personal circumstances including the 9 individual investing factors .. which might slightly differ for a trader as compared with an investor, but a lot of the same factors are going to overlap and still need to be considered for a trader.

That's why its really good that bitcoin holding option is present and there's a working strategy which people could use to make everything in good place then engage with less stressful activities since the only thing they need is to be consistent on their accumulation and follow the strategy they are working on. There are times before which I think gambling and trading is the same for instances that sometimes we win and there are times we lose our money for that activity.

I think that the main dichotomy is investing versus trading, and so trading can devolve into gambling, and so on the spectrum trading should be considered to be way closer to gambling than investing, and surely there are folks who don't know how to sufficiently differentiate between investing, trading and gambling, and so they might consider them all to be close to the same thing..so then their thinking may well be overly garbled and lacking in specifics, and surely they might not be completely wrong in their assessment that all of the areas are related (or can be related) on a theoretical level, yet when they are not able to sufficiently and/or adequately differentiate between investing, trading and gambling, then their thinking on the topic might contribute to their own making way more mistakes than they otherwise would have had made if they were to actually be able to identify and structure their own approach and practices according to such differences and they also may well end up employing sloppy and risky strategies and practices because they have not sufficiently/adequately figured out ways to differentiate between the concepts and to figure out ways to plan and implement their own strategies to account for such differences.