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Topic: Do not ignore the small profits in Bitcoin investments. - page 3. (Read 3202 times)

janggernaut

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Quote from: nydiacaskey01 on September 10, 2019, 01:47:37 AM

Just take a look at this 3 dates from July, August and September.

July 24 $9,709
July 25 $10,017
3% profits

July 28 $9,438
Aug 12 $11,391
20% profits

Aug 29 $9,512
Sep 6 $10,622
11% profits

You will notice that once Bitcoin reaches $9,500 it starts to recover and go back to $10,300 to $10,500 level.
Thats why when Bitcoin drops to $9,500, I always take advantage and buy some more and sell a fraction of it to gain profits.

You can't really say like that. It looks indeed very profitable but who knows when bitcoin was at their low price and then later it increased? Don't forget people are always greedy, when they seeing bitcoin price increasing, they will hold a little longer to hope bitcoin price goes higher. I believe there were only few people who willing to take small profit back then. You can even bought bitcoin at July 24th at $9,709, hold it until July 28th at $9,438, got panic and then sell your bitcoin because you are afraid it will keep lower. Or bought bitcoin on Aug 12th at $11,391 you still on loss atm.

1Referee

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Quote from: nydiacaskey01 on September 10, 2019, 01:47:37 AM

It's something you won't be able to always exploit. Currently there is still enough buy support around that level, but the next time it might catch you by surprise and dump further. We're not that far away from seeing that happen as there is nothing bullish about retesting the same support levels over and over again.

The market tends to rekt people when they get too comfortable with repetitive bounces, which we have seen happen last year too. I made quite decent profits multiple times buying around $6000 and selling 5-10% higher, which made me so comfortable that I had to be punished for underestimating this market. I'm glad that I woke up from it, and I hope that you will too.

izanagi narukami

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IMO most people are afraid to loss and want to profit at same time so they often cutloss when they have small profit.
It's good for short term achivement.

But for me, crypto especially bitcoin is long term investment so I want to achieve not only small but also big profit !

cheezcarls

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Quote from: Kakmakr on September 05, 2019, 01:34:29 AM

A lot of people make the same mistake by being too greedy, and ignoring the small profits and not using the proven recipe for success in Bitcoin by buying low and selling high.

Let's look at the recent price movement of Bitcoin and how this recipe would have put you one step closer to a safe investment in Bitcoin.

https://www.blockchain.com/charts/market-price?daysAverageString=7×pan=180days Let's take a quick example of what people could have done in the last 180 days, to secure a very good profit on their investment.

Let's say you had enough money to buy 1 whole Bitcoin when the price was at it's lowest in Mar '19 <$3000+> and sold in May '19 <$8600>, then you would have more than doubled your initial investment.

The price volatility in Bitcoin in the short term makes provision for a lot of opportunities for people to make small profits, because it is frequently dropping and recovering and if you are just patient and if you time your buying and selling, you can quickly get a good return on your investment. <Buy the Dip>

Some of my friends bought during the Dip in Mar '19, but they are waiting for the BIG payday, so they are hoarding their coins and missing all the opportunities to get a small portion of their initial investment back in their pocket.

There is nothing wrong with long-term hoarding, but when the opportunity is there to take some small profit, then you should take it. Wink

Do not re-invest your profit, because your first goal must be to get back your initial investment. Chip away that initial capital investment, by taking 5% here and 10% there, until you made back 100% of your initial investment.

Hoarding in the long-term might be convenient for some people, but the safe option is to take back small percentages in profits, until you get all your initial investment back. I use that profit to buy some goods and pay for some services in Bitcoin, so that I can show something for the risk that I took and for the effort that I put in to invest in Bitcoin.

This strategy helps to oil the Bitcoin merchants gears, by using Bitcoin as a currency and it also helps me to use Bitcoin as an investment tool. Wink

I absolutely agree with your point. I highly appreciate even if my profits are small in Bitcoin trading. No matter if it’s small or big, it’s still profit and we have to appreciate that. The technique is simple.

Buy the dip. I honestly think that we may not see it below $9.5k again base on my own analysis as the price is hovering around $10k to 10.6k, now around $10.2k. If I’m going to see that price again just in case, I would really take that advantage and wait for profits even if it’s small or big. Profit is profit.

BabyBoss

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Quote from: Kakmakr on September 05, 2019, 01:34:29 AM

Yes do not ignore the small profits of bitcoin because that may be the beginning to success. Because every bitcoiners will prosper in the future.And all successful rich people starts at small capitals.

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many people are trying to find a lot of profits from investing in bitcoin, usually it is moved from the desire for very high profits, they should if you want to get a lot of profit then you have to implement long-term investment by storing bitcoin and placing a sell order at a high price.

nydiacaskey01

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Quote from: ethereumhunter on September 10, 2019, 02:38:21 AM

Quote from: nydiacaskey01 on September 10, 2019, 01:47:37 AM

If we can take the chance for that percentage, I think we can make a nice profit every month. We will have more bitcoin in our wallet. Yes, that will be nice if we can always buy low and sell high in the market, especially if we can monitor and use an alarm, so we don't miss the chance. I am sure that if the situations continue like this, we can be able to make more profit in every month.

This is where "Do not ignore the small profits in Bitcoin" comes in. Look at the example #1

July 24 $9,709
July 25 $10,017
3% profits

You Buy at $9,709 and Sold at $10,017 next day. Maybe if I have a greedy mind, I would hold on to it a little longer thinking that I can get more profits but, if you look at the price history of Bitcoin, if you hold on to it, you need to wait till Aug 1 to reach $10,000 level again as after July 25 price of Bitcoin dropped again to $9,700. Take that 3% profit and get more again after a few days. 3% profit every other day is better than nothing.

ethereumhunter

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Quote from: nydiacaskey01 on September 10, 2019, 01:47:37 AM

If we can take the chance for that percentage, I think we can make a nice profit every month. We will have more bitcoin in our wallet. Yes, that will be nice if we can always buy low and sell high in the market, especially if we can monitor and use an alarm, so we don't miss the chance. I am sure that if the situations continue like this, we can be able to make more profit in every month.

Free1bitco.in

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Quote from: nydiacaskey01 on September 10, 2019, 01:47:37 AM

every month always produces a similar pattern. it's the same as I thought. when the price of bitcoin is in the range of $ 9,000, it will be a good opportunity for investors. when the price of bitcoin rises to $ 10500, it will certainly provide a small profit, but that can be taken quickly.

some information that I read today says that some investors are starting to hold their bitcoins at $ 1,300. they did so because they believed that the price of bitcoin could reach a higher price for the remainder of 2019.

nydiacaskey01

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Bunsomjelican

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Quote from: rodel caling on September 07, 2019, 06:35:30 PM

I agree on that idea because small amount begin to become bigger, gathering heap small amount is best way to earn huge profits.

Quote from: BayAngelo on September 07, 2019, 05:51:14 PM

i was always been buying in the bull market until i lost my entire cash. i recieved sense immediately. i have decided no matter how the bull runs in the market, i take my profit and wait for another round to buy the deep. i have to control my emotions these days

Yeah that's right control emotion is one of the key to get success in trading and do not be greedy just contented in small profits than to get with nothing.

This is truly happen, and it happened to me many times, not because I'm boasting but this is realistic as long as you know what you are doing in the actual platform of trading. Just always remember, begin with basic things you don't need to be experts for you to gain big, no its not like that. Just don't allow greediness to controls you okay.

sana54210

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Quote from: ?? on ??

Big or small profit is still consider a profit. Before I experience really a no progress in trading even in holding, those times that the market down and I almost give up, but I realize that it's much better to continue trading and having BTC since the potential is always there. It's still have chance to gain in the future.

In business world, we will find out that those that sells with small profit makes more money than those that sells with bigger profit if they are all on the same marketing level, because the number of people that will patronize the one with small profit will be more than the one with bigger profit, and by the time the one with smaller profits compounds his own, what he makes within a month would be more than what the one with bigger profit will make within 4 months, which is why a good business person believes more In turn over.

This is the same thing that applies o here, if a trader that takes small profits every time it sees it is with a trader that prefer bigger profit when they trade at the same level, you will find out that the one with smaller profit will surely make more money because he would have done turn over several times.

binhvo1505

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Yes, this article is stabbing into my heart now.
My most recent failure was greed. I bought LTC at $ 106 and in 2 days it increased to $ 124 when the halving was coming. and because I invested small, I only got a profit of 0.6 LTC and I didn't sell. I am greedy and think it will keep increasing. when I hold till now, its value is 68 $ and i have lost !!!
This is a lesson learned for new traders and learn from my mistakes.

Kakmakr

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Quote from: Herbert2020 on September 09, 2019, 12:31:37 AM

Quote from: eaLiTy on September 08, 2019, 12:44:43 PM

Quote from: Kakmakr on September 05, 2019, 01:34:29 AM

Let's say you had enough money to buy 1 whole Bitcoin when the price was at it's lowest in Mar '19 <$3000+> and sold in May '19 <$8600>, then you would have more than doubled your initial investment.

I would rather hold for a longer period of time rather than selling out during those spikes as i am in this market for a long time to understand the market sentiments and i am not putting my credit cards amount in bitcoin to sell off fast, you need to have patience when it comes to any form of investment and the strategy you are telling will work but if the market rises after you sell off then there is no way to enter the market yet again. I do ignore small profits and i am here for the long term and hence it works all the time.

that is a much better approach with investments that have a good long term potential like bitcoin. and i believe that most people who are in bitcoin are adopting this strategy specially since day trading is too much of a hassle for them. the indication of it is also visible on exchanges as they don't grow that much even if the bitcoin adoption grows (lack of day traders but lots of investors).

the strategy that OP suggests is best suitable for altcoin trading in my experience. since altcoins don't have a long term outlook they are best suited for short term trading for you to get in, get the profit and get the hell out. add to that the fact that altcoins only get pumped and dumped and you'll see no other strategy suitable for them.

No, you are missing my point. I am not saying you have to day trade with Bitcoin to take these small profits. There are normally a week or two between the dip and the recovery, so you just need to buy on the dip and then wait a week or two for the price to recover and then you take a little bit of profit.

Also, when you day trade, you cannot take profits every hour or day. Some days the price will just constantly go down and you will not make any profits.

Herbert2020

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Re: Do not ignore the small profits in Bitcoin investments.

September 09, 2019, 12:31:37 AM

#55

Quote from: eaLiTy on September 08, 2019, 12:44:43 PM
Quote from: Kakmakr on September 05, 2019, 01:34:29 AM
Let's say you had enough money to buy 1 whole Bitcoin when the price was at it's lowest in Mar '19 <$3000+> and sold in May '19 <$8600>, then you would have more than doubled your initial investment.
I would rather hold for a longer period of time rather than selling out during those spikes as i am in this market for a long time to understand the market sentiments and i am not putting my credit cards amount in bitcoin to sell off fast, you need to have patience when it comes to any form of investment and the strategy you are telling will work but if the market rises after you sell off then there is no way to enter the market yet again. I do ignore small profits and i am here for the long term and hence it works all the time.

that is a much better approach with investments that have a good long term potential like bitcoin. and i believe that most people who are in bitcoin are adopting this strategy specially since day trading is too much of a hassle for them. the indication of it is also visible on exchanges as they don't grow that much even if the bitcoin adoption grows (lack of day traders but lots of investors).

the strategy that OP suggests is best suitable for altcoin trading in my experience. since altcoins don't have a long term outlook they are best suited for short term trading for you to get in, get the profit and get the hell out. add to that the fact that altcoins only get pumped and dumped and you'll see no other strategy suitable for them.

maydna

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Re: Do not ignore the small profits in Bitcoin investments.

September 08, 2019, 11:56:29 PM

#54

Quote from: imstillthebest on September 07, 2019, 01:38:29 AM
Quote from: maydna on September 07, 2019, 12:58:52 AM
some people will wait for more just because they want to get a bigger profit. But in the end, they always late to sell at the highest price.
if you are serious about earning you will do anything no matter how hard it was . you can wait longer and you can check the price more oftenly . small continous profits arent also bad but they are actually better than long unstable profits .

we can get still get those small profit while still hodling at the same time . we can do it if we will only withdrew the amount that we earn and leave our starting balance on our btc wallet .

I prefer to take any profit while I can get because I don't know when I can retake those profit in the future. If I can get the profit, I am sure I can make another profit from another investment. It is better to get the profit in a short time than to wait for a long time because we want to make our balance bigger than before.

But we could also have one wallet to be a cold wallet so we can save it for a long time. We can prepare for the next increasing of the price so we can make a lot of money from the investment.

With the small profit that we can take in many times and with the investment in a long time, I am sure that it will give us a big profit at the right time.

eaLiTy

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Re: Do not ignore the small profits in Bitcoin investments.

September 08, 2019, 12:44:43 PM

#53

Quote from: Kakmakr on September 05, 2019, 01:34:29 AM
Let's say you had enough money to buy 1 whole Bitcoin when the price was at it's lowest in Mar '19 <$3000+> and sold in May '19 <$8600>, then you would have more than doubled your initial investment.
I would rather hold for a longer period of time rather than selling out during those spikes as i am in this market for a long time to understand the market sentiments and i am not putting my credit cards amount in bitcoin to sell off fast, you need to have patience when it comes to any form of investment and the strategy you are telling will work but if the market rises after you sell off then there is no way to enter the market yet again. I do ignore small profits and i am here for the long term and hence it works all the time.

Oceat

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Re: Do not ignore the small profits in Bitcoin investments.

September 08, 2019, 12:17:03 PM

#52

Quote from: rose9696 on September 08, 2019, 11:07:35 AM
Greed often happens to newbies. They often say 5% or 10% is too little compared to what they deserve, they are expected too much about the coin and unrealistic.
That's why so many amateur traders now have their accounts burnt out, they work in an undisciplined way. Hope this article can help new people.
Well, it is inevitable since this is their first time to enter the market and doesn't have a clue yet on how the market really works. But once you've encountered trading for week or months you will finally gonna realize what is lacking in your strategy. Trading is not that easy as others think, they need to invest a lot of time studying and money in order to fully understand it. Some may spend years to be able to make their own strategy and analysis without looking at the chart.

rose9696

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Re: Do not ignore the small profits in Bitcoin investments.

September 08, 2019, 11:07:35 AM

#51

Greed often happens to newbies. They often say 5% or 10% is too little compared to what they deserve, they are expected too much about the coin and unrealistic.
That's why so many amateur traders now have their accounts burnt out, they work in an undisciplined way. Hope this article can help new people.

rodel caling

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Re: Do not ignore the small profits in Bitcoin investments.

September 07, 2019, 06:35:30 PM

#50

I agree on that idea because small amount begin to become bigger, gathering heap small amount is best way to earn huge profits.

Quote from: BayAngelo on September 07, 2019, 05:51:14 PM
i was always been buying in the bull market until i lost my entire cash. i recieved sense immediately. i have decided no matter how the bull runs in the market, i take my profit and wait for another round to buy the deep. i have to control my emotions these days

Yeah that's right control emotion is one of the key to get success in trading and do not be greedy just contented in small profits than to get with nothing.