An advice for newbies and plebs - page 7.

LastKiss

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Quote from: crzy on March 14, 2022, 03:58:45 PM

Quote from: ?? on ??

A good analysis for a newbie or others who don't understand the crypto market. does not mean it can be trusted with certainty but at least an illustration if in the future this analysis occurs. For a trader, maybe if the market is falling or rising, he will still act, especially a day trader, no matter when and wherever they try to do their best. This downturn in the crypto market is a good way to buy crypto at a low price and store it. but remember that we have to be patient and wait until the market rises again and stabilizes so we can get a profit. Don't let us give up in the middle of the road and sell it because in a panic the price keeps dropping, that's a fatal thing.

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

Mostly those people who want to earn quick profit who doesn't have any patience, Also we should use our money that we can afford to lose to prevent any stress and panic happening when the market didn't go like what we want. Dont ever use your hot wallet for an investment when you have any emergency you dont need to cash out your trading asset and you can keep it for the long term.

Captain Corporate

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Quote from: crzy on March 14, 2022, 03:58:45 PM

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

It is basically a waiting game. It is like holding something up and whoever holds it longest without ever dropping it, will be the winner, kind of like a survival tv show game. At the end of the day person who sees the fact that no matter what they do, the price will always go up in the end, and recovers with that knowledge, will be the winner. The one that thinks they can sell, get lower, and sell at higher will sometimes win and sometimes lose big time. This is the battle, the person who wants to be active constantly versus the person who is fine with making profit no matter how long it could take them to do that.

crzy

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Quote from: ?? on ??

A good analysis for a newbie or others who don't understand the crypto market. does not mean it can be trusted with certainty but at least an illustration if in the future this analysis occurs. For a trader, maybe if the market is falling or rising, he will still act, especially a day trader, no matter when and wherever they try to do their best. This downturn in the crypto market is a good way to buy crypto at a low price and store it. but remember that we have to be patient and wait until the market rises again and stabilizes so we can get a profit. Don't let us give up in the middle of the road and sell it because in a panic the price keeps dropping, that's a fatal thing.

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

Etranger

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Quote from: Ultegra134 on March 12, 2022, 11:58:28 AM

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

It is also very rare to notice what percentage is considered sufficient income. When exactly to leave the position, to cache out, when to withdraw income? I often hear from more experienced members of the forum that I need to close the position when "the risk-return ratio is satisfactory for me", "when I am satisfied with the percentage". But how exactly can I know what percentage you I to be satisfied with in a particular situation?

When I was just starting to learn the basics of crypto trading, I thought closing the position in 1-2 days with a profit of up to 2% was just fabulous. Then I saw how people did more than 30% in one operation in a few hours. I rethought my approach to "adequate profits" after almost every deal. So far, I have not figured out what I can start from, where is the range in which to close the position, so as, on the one hand, not to feel lost opportunity, and on the other - the unnecessary risks that lead to losses.

Silberman

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Just as it is important to know when to enter the markets it is also important to know when to stay away from them, the market conditions that we are witnessing are not exactly the best so staying away from the market is not a bad idea, also it is not like this is the only market that exist, there are many other markets, so until the market begins to show strong signs of improvement then it could be a good idea to invest on those other markets for the time being.

TheGreatPython

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Quote from: worle1bm on March 13, 2022, 01:59:26 AM

If you are optimistic about bitcoin then you don't need to worry about the past price charts and hold for long term rather than indulging in trading.If you see in the long run profits have been delivered to the investors is I speak solely about Bitcoin and that's the best thing.We can't predict the future with exact precision and there could be some factors that decide how will the prices react in future and this time there are hopes it will get high this year but still make your choice.

Everyone of us here that involved in bitcoin are for sure optimistic with it. Past is past and what is important is the present although there are some that based their analysis in the past price of bitcoin to tell if the future movements are going to be upward or downward.

I think this is somehow useful because even me I see that there are years where btc seem to follow such pattern. On the other hand, the term trading doesn't only mean of selling but under this term, it also means to buy. You trade your fiat or whatever you have for btc and then you hodl that btc. Trading now ( buying ) is a good thing to do since price of btc is still cheap.

goldkingcoiner

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

2022 - It might be
2023 - It might be
2024 - It might be

This post bothers me for a multitude of reasons. Why would you say something might be if you have no evidence pointing towards such an outcome? The day after next year, the internet might be banned all over the world and Bitcoin could become completely worthless. Will it happen? 99.99999% probability of no.

This is not really giving anyone advice this is just trying to impose hodling on newbies. While hodling, in fact, is the smartest thing to do with your crypto, there is no need for further speculations.

bhooscream

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

The market has always followed a bull - bear cycle.
2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Crypto market has a bull and bear cycle, but the cycle may not repeat as the same as previously. So, basically, what the trend to happen in the future cannot be predicted based on the previous bullrun scheme only. We must consider the current factors that may influence crypto trends, for example:
1. Current world economic status
2. Massive adoption of Bitcoin by big parties (BTC as a legal tender in El Salvador, big companies follow BTC investment)
3. Hot issues around the world (wars, Covid pandemic, etc)

These factors may change the scheme of the bull-bear cycle. So, be careful to determine every decision for your crypto investment.

stepwilli

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Long-term has been my own means of making good profit from the crypto-currency market. I have always made sure to follow this bull and bear cycle since 2017 and it has really been working for me. So, I am not going to miss it this time around.

A lot of people has been complaining that the market is bearish and that they want it to increase in value, but we have already seen the market increased in value and I think this time would be the proper time to start investing as the market is bearish now. And within some few years like you have said maybe 2024 or 2025 , we are also going to see another bull run that will take place. The cycle will repeat itself again.

SirLancelot

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Quote from: FairUser on March 12, 2022, 01:59:19 AM

Perhaps each of us has our own approaches, I am not a savvy person in this market, and I know that predictions are relative and we all have arguments for what we do when we search. I like DCA to increase the number of cryptos and then there will come a time when it will be necessary to rotate them with other assets. It will be more beneficial to keep abreast of market movements.

Most of the top cryptocurrencies in the market would definitely increase in value in the years to come and I believe 2024, like op has said, would be likely a bullish year for most crypto assets. I’m not going to miss to invest in Bitcoin and ethereum right now because these cryptocurrencies has a bigger chance of increasing when the time comes. Bitcoin has always been repeating this bullish cycle every four years that there is a halving in the market and Ethereum has always followed it closely.

There are also other top cryptocurrencies in the market that would increase in value and I’m holding a few of them that I think are a good option to HODL in my wallet. There isn’t any need to hold too many cryptocurrencies, just a few is okay.

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Quote from: worle1bm on March 13, 2022, 01:59:26 AM

If you are optimistic about bitcoin then you don't need to worry about the past price charts and hold for long term rather than indulging in trading.If you see in the long run profits have been delivered to the investors is I speak solely about Bitcoin and that's the best thing.We can't predict the future with exact precision and there could be some factors that decide how will the prices react in future and this time there are hopes it will get high this year but still make your choice.

There are traders though. I mean I am long term as well and only trading with a small portion of my portfolio and there is nothing wrong with holding long term. I believe that is the best way to make money in crypto as well. However that doesn't change the fact that we are in a situation where we could make a great amount of money where we could trade as well.

It means that these traders do worry about every single move, the short term moves to long term ones. Why? Because they are traders and that is what they do and every single small time change could impact what they do very much and that is why it is a very important result.

tvplus006

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Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto...

If trading is the main source of income for you, then you will not be able to just sit and wait for a good opportunity to buy coins at a lower price. In this case, you will open a short position without waiting for a low price to provide for your family.

Ultegra134

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Quote from: Polkeins on March 13, 2022, 10:26:43 AM

Litecoin is a good example. Many of those who came to the crypt have long perceived it as a TOP cryptocurrency and this is partly true, but over the past 2-3 years it has lost its position, although the "brand" of litecoin is still strong. But you can lose a lot of money if you believe on hodl strategy, cause litecoin still didn't get it's ATH of 2017-2018 years when it was about 400-500$.

That's why I say that the HOLD strategy works so far only for Bitcoin, which eventually returns its positions and takes new ATH levels.

We don't actually know that, it could take years for Bitcoin to recover, which did happen in 2017, crashing from $20.000 to $6.000 within a day or two. Recovery took place 3 years later, in which plenty had given up, including myself. However, I was one of the lucky ones and I didn't sell my Bitcoin back then, because I had completely forgotten about them, only to regain access in my wallet in 2021.

Cling18

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Quote from: GreatArkansas on March 06, 2022, 04:07:21 AM

*might*

For me, if you are a responsible and well-knowledge trader even what is the condition of the market (bear market or bull market) you can still earn profits.
For example, doing futures trading because as you know, we can short the market or make profits even price is dumping. I know some people who makes a lot of money even bear market.

A good trader could take every market situation as an opportunity to earn and gain profit. As for me, the bear market shouldn't be feared but we should learn how to deal with it. However, beginners should start gaining enough knowledge first before trying any form of trading because through that, they will be able to trade no matter what the status of the crypto market is.

Polkeins

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Quote from: Ultegra134 on March 12, 2022, 02:40:14 PM

Quote from: Polkeins on March 12, 2022, 01:49:22 PM

Quote from: Ultegra134 on March 12, 2022, 11:58:28 AM

Quote from: Polkeins on March 12, 2022, 10:58:18 AM

Quote from: so98nn on March 12, 2022, 09:43:47 AM

Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

Well, litecoin didn't exactly fall out, it just dropped to 21st place.
But now it's not only far to the 3rd place, but also to the top ten in principle.
It is well noted that the HOLD strategy can be successful, but you need to understand what you are going to do in the end? When to get into fiat? Or do not go out at all and wait when almost everyone would be accept payment with bitcoin.

Interesting, I just looked it up on CMC and didn't notice it. Anyway, holding requires a lot of patience and setting the right goals, at what point are you satisfied with the results, and what kind of results are you expecting from your coins. Certainly, history has proven that it works, however, that's a vague statement, since Bitcoin could potentially recover back to its old ATH in 2-3 or more years (that's an example).

Litecoin is a good example. Many of those who came to the crypt have long perceived it as a TOP cryptocurrency and this is partly true, but over the past 2-3 years it has lost its position, although the "brand" of litecoin is still strong. But you can lose a lot of money if you believe on hodl strategy, cause litecoin still didn't get it's ATH of 2017-2018 years when it was about 400-500$.

That's why I say that the HOLD strategy works so far only for Bitcoin, which eventually returns its positions and takes new ATH levels.

worle1bm

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If you are optimistic about bitcoin then you don't need to worry about the past price charts and hold for long term rather than indulging in trading.If you see in the long run profits have been delivered to the investors is I speak solely about Bitcoin and that's the best thing.We can't predict the future with exact precision and there could be some factors that decide how will the prices react in future and this time there are hopes it will get high this year but still make your choice.

FairUser

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Quote from: Oceat on March 12, 2022, 06:28:42 PM

Likely suitable for newbies but my question to OP is, what if he's wrong?

You are not new

And I know that if there's a mistake, it's okay to see that mistake as a motivator for future opportunities. Life has many lessons for us to apply. Not necessarily the lessons you learn will be used for a certain field, but the flexibility in the ability to apply knowledge will help you. And the experience here includes success and failure.

Quote from: Oceat on March 12, 2022, 06:28:42 PM

Does history really repeat itself like the last time? Or there will be a slight of change when facing the future?

It is the basis for us to set up new versions. Of course, the results must take place before we can evaluate them, and before that, the prediction is for reference only. I think forecasting needs to be looked at from many angles, past, present, future,...

Sled

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Bitcoin- in bullish time

My advice to newbies...
* never think much for the future
* might this year 2022 is full of dumbs, prepare to hold then

We have to keep in mind the market volatility and speculations could be wrong that is why we don't have to weigh this much. If we are investing reliable coins and have a use case, we are totally safe unless we sell them.

Oceat

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Quote from: FairUser on March 12, 2022, 01:59:19 AM

Quote from: Wind_FURY on March 05, 2022, 06:32:10 AM

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Simply suitable for a newbie

Perhaps each of us has our own approaches, I am not a savvy person in this market, and I know that predictions are relative and we all have arguments for what we do when we search. I like DCA to increase the number of cryptos and then there will come a time when it will be necessary to rotate them with other assets. It will be more beneficial to keep abreast of market movements.

Likely suitable for newbies but my question to OP is, what if he's wrong?

Does history really repeat itself like the last time? Or there will be a slight of change when facing the future?

I tend to agree that each of us has our own approach to the market situation, so telling them to invest this year and that year might not help if they listen to you. And I myself still in question about this market since ever since I knew about it I hardly know a precise prediction that point to the correct price. This market is always unpredictable to me, so take your risk on buying and stop waiting if the market would go down or not.

Ultegra134

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Quote from: Polkeins on March 12, 2022, 01:49:22 PM

Quote from: Ultegra134 on March 12, 2022, 11:58:28 AM

Quote from: Polkeins on March 12, 2022, 10:58:18 AM

Quote from: so98nn on March 12, 2022, 09:43:47 AM

Good, in short the OP is confining us to the HODL methodology which is the safest one and there is no loss as long as you are not selling your crypto currencies. With the time crypto will show numerous ups and downs and could result in shocked situation but all you have to do is hodl until you get desired profits.

However, to point out, current year is also the biggest DIP, and I feel like its worst one and we may not ever see it again if the crypto breaks the current resistance in the up coming days. Reason one, peeps are buying the currencies at alarming rate and thus we are making strong liquidity base, meaning at some point there will be large number of assets to trade so price wont fall sharply. Secondly the whole community is driving themselves towards halving year 2024, so brace for the bigger up surges.

The HOLD strategy works at a long distance only for Bitcoin and Ether. There are only 3 cryptocurrencies from Top 10 by capitalization in 2017 still in top 10 now in 2022 - BTC, ETH and Ripple.
All the others cryptocurrencies dropped out of the top 10, including Litecoin(which is still good) and Bitcoin Cash.
Therefore, I would not say that HOLD is a 100% winning strategy. It is always necessary to monitor the market, otherwise you can easily get losses.

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

Well, litecoin didn't exactly fall out, it just dropped to 21st place.
But now it's not only far to the 3rd place, but also to the top ten in principle.
It is well noted that the HOLD strategy can be successful, but you need to understand what you are going to do in the end? When to get into fiat? Or do not go out at all and wait when almost everyone would be accept payment with bitcoin.

Interesting, I just looked it up on CMC and didn't notice it. Anyway, holding requires a lot of patience and setting the right goals, at what point are you satisfied with the results, and what kind of results are you expecting from your coins. Certainly, history has proven that it works, however, that's a vague statement, since Bitcoin could potentially recover back to its old ATH in 2-3 or more years (that's an example).

Topic: An advice for newbies and plebs - page 7. (Read 1617 times)