Help in Trading - page 6. | Bitcointalksearch.org

mersal

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

Try to convert your profits in a stable coin instead of converting it into fiat because when we convert crypto into fiat the fee will be insane compared to crypto to crypto transactions so again you need to pay the same high fee for converting it into btc so you may lose 2% of your total capital for every cycle this seems you are not making money yet.You also can use exchange's token to reduce the fee further.

Dart18

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Try it backwards.
Gain more BTC than gaining more USD. That way you could see if you are really making profit.
That is one problem when you are trading with a stable coin.

Calculate it thoroughly by using a spreadsheet. With that you could remember how much you did really risk than just guessing it or trying to remember without notes.

naikturun

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Not wrong is just a market condition that is still bad, I also if the trading always use pairs USDT buy when red and sell when green, only in conditions like this you should pay attention to the market more often because it can climb down very Quickly in minutes.

kro55

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*STOP NOWHERE*

I m not a big fan of day trading or short term investment. You can find scores of stories in which people are at loss only.
If you want to be successful try to learn the hodling technique, you wont regret.

Rodeo02

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

Maybe you directly widraw the balance from exchange which is all of your profit only go for transaction fees of that exchange. If you really want to earn in short trade you should use stable coins such as USDT and do not widraw it directly also check the trading fees, in short trade you also need a large balance to earn enough maybe you only use small amount of money for trading.

Aaroenz0r

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

A downtrend is a time when ordinary traders cannot seem to make any money. because the trend usually goes on for months and traders will easily get discouraged when seeing only red every day. so if you have better experience then you should try trading margin. A type of transaction that can make a lot of profits but also takes a lot.
Naturally, to get rich and to make a lot of money, you have to take risks. I earned 43.6% of the money I deposited into exchanges after 5 trading days. You should also use your knowledge to make money during the downtrend. Besides, you should play at Bitmex, Binance or Snapex. Those are reputable exchanges.

adaseb

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The strategy that he is talking about is basically a perfect strategy on paper and impossible to perform in live trading. From what I understand he wants to buy BTC and if his position is positive he leaves the trade open, as soon as it goes negative he will close it to prevent losing money. So on paper, you can actually do this and never lose.

However in real life you got slippage, you got spread, you got trading fees. And price can trade back and forth in the same range for hours and what will you do? Get in and get out every few minutes? You would lose all your money on trading fees and the spread.

Right now I wouldn't buy BTC. We are on the weekly in a down trend and we keep hitting new lows. When you see that we are making higher highs then that is when you should long. Which should happen if we close above $10400 on the weekly charts.

MURONDI

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before trading you should first determine your goals whether you want to develop btc or usd, when viewed from your posts it seems your main goal is usd, then you need to accumulate from starting capital, trading costs, profit percentage, maybe what you don't understand is that in trading there is a price difference between buying and selling, When you sell BTC to USD, are you sure your selling price is higher than the purchase price.

maydna

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

In what price you bought bitcoin? If you buy bitcoin at a range $7,000-$7,320, I think now you are in profit, and you can sell it right now. But if you buy bitcoin at $7,700 or a price now, then I suggest you wait for a moment because bitcoin price now increases although not much. At this moment, you should be patient to wait for bitcoin price to jump to the higher rate so you can sell your bitcoin and make a profit. I am sure you will make a profit soon, please stay calm for a while and don't panic.

nydiacaskey01

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

I dont see anything wrong with your strategy, I am also doing the same strategy with my BTC, to lock my profits when I see that price is going down, I convert to USD, then buy more when it hits the bottom. Maybe whats happening to you is you are not patient to wait for the price to go up again.

Vispilio

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The default "risk adverse" human instinct is to take profits immediately as soon as they see small gains, and to let the losers run indefinitely
in the hopes that at some point the position might reverse...

When you are just starting out in trading, you should focus training your discipline to adapt to counter intuitive techniques that are often necessitated by profitable trading systems, and become aware that in many cases you will need to go against "common sense" and mainstream human inclinations to gain an edge over the competition in order to become a profitable trader...

Jating

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

I think nothing is wrong with your strategy, but the problem is that it's just basic, and it's really hard to make profit that way.

If I'm in your shoes, you should learn trading, what I mean is that you should buy when the price dip and then sell when the price goes up. Not like hedging it up on USD and unless you have huge capital to start, that kind of strategy won't work in the long run. Learn technical analysis, don't be afraid to go out of your comfort zone and slowly learn how to trade and earn a decent profit. Best of luck.

GreatArkansas

legendary

Activity: 2506

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You should learn more about technical sides.
Like how those candlesticks move or learn also different chart patterns.
Because as you said, you only buying and selling when you see green or red candlesticks, that's difficult. You should have your analysis and reason why buying/selling or opening a position on trading.

Wexnident

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I don't request loans~

You could also try going for local exchanges or private trading. A lot cheaper since transaction fees ain't that expensive. You should also probably brush up on daily trading techniques and mechanics since that is what basically you are doing right now. Find a pair that suits you, and well, see how it goes. That's pretty much how day trading works anyway.

worldtraveller321

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The Quest of the Best Information to the Solution

thanks

Polar91

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Quote from: worldtraveller321 on November 29, 2019, 08:04:59 PM

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

Perhaps you pay more fee than the profit you gain from your trade. You could be also trading in a short period of time wherein the market movement doesn't volatile too much making you unprofitable for your each trade. If you want that to change, try to study more how does the trading works and look for trading pairs who suits to your skills and has a minimal risk at the same time.

worldtraveller321

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Activity: 512

Merit: 33

The Quest of the Best Information to the Solution

I am trying to secure my gains by doing this. I have an exchange that I use. I convert from FIAT To BTC
I will exchange USD to BTC when I see Green and when it goes red i try to secure those gains by going back to USD

Still seems i am not earning. numbers keep going down. what am i doing wrong? suggestions please?

Topic: Help in Trading - page 6. (Read 1303 times)