I have already lost some money because I bought bitcoin at $39300 two days ago and now it is about $31000!!
But I only hold it for now to see what will happen in the upcoming days. I still have some capital elsewhere but I don't touch it unless bitcoin falls to $10000 and even lower.
I have divided my capital into two different parts. One for buying cheap bitcoin to hold for long term and the other for day trading.
Topic: How do you day trade with bitcoin these days while it is full of stress? - page 2. (Read 330 times)
January 11, 2021, 11:38:30 AM
January 11, 2021, 07:34:12 AM
It's really stressful now the price jump down to $34,800. I think I should follow the other's advice just hold and just ignore the current price, though that would be hard but if you are really a Bitcoin supporter and you know that the price will go up to $100,000 I think there's no problem for you to hold it.
January 11, 2021, 06:31:46 AM
I tell you, being in the market is super stressful. These 2 days including today has been even more stressful, as everything seems to be dropping and all market show volatility.
It's a difficult one, and you can't advise others when you, yourself are having difficulties trying to work out when to sell and if you should go back in or not
It's a difficult one, and you can't advise others when you, yourself are having difficulties trying to work out when to sell and if you should go back in or not
January 11, 2021, 04:45:01 AM
I don't trade. Just HODL my bitcoin until it reached minimum $100k-$300k whatever i feeling it's too high, so it doesn't make me stress
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?Those who doesn't own bitcoin for now must think other way to earn it, either through signature campaign or bounty
January 11, 2021, 04:30:45 AM
It does make a difference and a big one!
Suppose investing $100, buy at $8000 and sell at $8200. Profit = $2.5 (regardless of fees)
Suppose investing $100, buy at $40000 and sell at $40200. Profit = $0.5! (regardless of fees)
So, to earn the same $2.5, you have to sell at $41.000! In fact, you need 5x more price movement to achieve the same result. Bitcoin doesn't fluctuate $1000 every day.
Suppose investing $100, buy at $8000 and sell at $8200. Profit = $2.5 (regardless of fees)
Suppose investing $100, buy at $40000 and sell at $40200. Profit = $0.5! (regardless of fees)
So, to earn the same $2.5, you have to sell at $41.000! In fact, you need 5x more price movement to achieve the same result. Bitcoin doesn't fluctuate $1000 every day.
Not a realistic example. Price swings are not limited to $200 at $40K.
In percentage terms, the daily swings we're seeing now (5-10% daily, 15% today) are much bigger than when we were trading in the $8,000s. In June and July last year, it was typical to have 0-2% daily swings.
So sure, in absolute $ terms you need more price movement at higher prices to achieve the same profits. But we're getting that, and more. It's % price movement that matters.
Anyone who is skilled at trading volatility is making a killing off this market, that's for sure.
January 10, 2021, 01:30:44 PM
I'm sure many people consider keeping their wealth in Bitcoin and adding to it. I mean why not? It is a scarce asset that is not subject to inflation and it cannot be controlled by governments. If you ask me I'd choose BTC over Gold at any time of the day. Let's not forget that its market cap is extremely low for a hedge-type asset comparing to other precious metals. That indicates massive room for growth.
January 10, 2021, 01:15:45 PM
It's hard to compete against the bull run market, day traders hardly get considerable profits, so it's not the right time to trade in the short term.
one way to ride the bull run is typically actively and confidently invest in some coins with a higher probability of making a return., at a relatively lower price than bitcoin.
Or else, do not buy and hold bitcoin to sell at your goal, waiting for a correction then buy the dip.
one way to ride the bull run is typically actively and confidently invest in some coins with a higher probability of making a return., at a relatively lower price than bitcoin.
Or else, do not buy and hold bitcoin to sell at your goal, waiting for a correction then buy the dip.
January 10, 2021, 12:57:20 PM
I don't trade. Just HODL my bitcoin until it reached minimum $100k-$300k whatever i feeling it's too high, so it doesn't make me stress
I like this approach. Considering that the above price is quite realistic, your strategy looks very attractive.
In addition, the well-known fact that holding brings more money than trading, provided that you are an average trader.
January 10, 2021, 11:08:14 AM
This is the real game I enjoyed most when Btc is on up trend. We have already seen that Bitcoin crossed it's all previous records till now and make another ATH value. So those people who already hold it, got their profit already. Yes, it is only for long term holder and they already enjoyed the moment. I don't trade in this time and I am waiting to see another ATH value. Because I just hold Bitcoin.
January 10, 2021, 11:04:32 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever?
Until they satisfied the profit that they targeted before converting into fiat. How long they hold? Every one of us here has a desired profit they want, if you are too much greedy, it could probably take a years before you will have a good result. Most people now prefer to hold than use in trading their Bitcoin or spending this in any transaction as a payment method, if you are trading it in a short term, you should also consider the fees, instead, while you are not holding and sell at one in a time to save some fees. That's why there are few people who invest in Bitcoin and hold it for a long time because they think that Bitcoin is a safe haven after all.
January 10, 2021, 10:52:08 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.
I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
Whether its 8k or 40k, should not make any difference to traders. You need to increase or decrease your position size. If are stressed trade small. You have that flexibility as it is divided into Satoshis.I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
In fact its more volatile, more swings up and down, giving more opportunities to trade and profit.
Suppose investing $100, buy at $8000 and sell at $8200. Profit = $2.5 (regardless of fees)
Suppose investing $100, buy at $40000 and sell at $40200. Profit = $0.5! (regardless of fees)
So, to earn the same $2.5, you have to sell at $41.000! In fact, you need 5x more price movement to achieve the same result. Bitcoin doesn't fluctuate $1000 every day.
January 10, 2021, 10:39:43 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.
I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
Whether its 8k or 40k, should not make any difference to traders. You need to increase or decrease your position size. If are stressed trade small. You have that flexibility as it is divided into Satoshis.I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
In fact its more volatile, more swings up and down, giving more opportunities to trade and profit.
January 10, 2021, 10:39:36 AM
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?
Does it mean the man has not btc but he has money to invest/trading? If he has enough money to invest then I will not suggest someone to enter in btc trade in this position. They always should invest in high potential alt coins which did not pump yet. And I am pretty sure high potential altcoins will pump surely. And for make a profit from bitcoin trade it's very risky to manage emotions. Because we always expecting atleast a correction from this point.
January 10, 2021, 10:37:54 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market.
Ah, the classic misconception that every single one of the long-term holders are simply holding bitcoin for a good chunk of years just to sell in the end.
Look, some of us simply want self-sovereignty, to have money that the central banks can't fuck with through inflation. A lot of people aren't just financially invested, but ideologically invested as well.
Let me show you the classic Bitcoin Neo meme:
January 10, 2021, 10:05:16 AM
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
I think this depends, because in fact I still get enough profit even though I trade in several altcoin, let's be honest because for bitcoin I don't have a very full mental to see the current conditions.
it is like you said that worrying about a crash will occur when buying at $ 40,000. although in fact the situation is not.
however this makes us a limitation that trading with caution is more than enough. yeah, I'm still grateful that even with altcoin there is still an income.
January 10, 2021, 09:37:04 AM
We have different ways on how are we going to trade especially we are at the peak of the price or in the long time high I think you would be able to gain profit from day trading right now I'm more into futures let's hope that I would be able to get lucky here.
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January 10, 2021, 08:51:40 AM
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?
Does it mean the man has not btc but he has money to invest/trading? If he has enough money to invest then I will not suggest someone to enter in btc trade in this position. They always should invest in high potential alt coins which did not pump yet. And I am pretty sure high potential altcoins will pump surely. And for make a profit from bitcoin trade it's very risky to manage emotions. Because we always expecting atleast a correction from this point.
January 10, 2021, 08:11:55 AM
I don't trade. Just HODL my bitcoin until it reached minimum $100k-$300k whatever i feeling it's too high, so it doesn't make me stress
Lmao, that’s a pretty obvious assumption.
The price goal that you have set will surely achieved by BTC, but that will take more than 5 years lol.
If you have the capability to hold till that day, then hats off to you mate.
Coming to the OP, it’s not a big deal while trading with BTC if we see.
If you don’t have the capability to bear losses then simply don’t look at Bitcoin.
The answer is just simple as that.
January 10, 2021, 08:07:00 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.
I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day.
I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day.
We're seeing lots of 5-10% daily swings. That's more profitable than a $200 swing in the $8,000s.
Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.
Stop losses should take care of that. Aren't you a day trader? This is Trading 101 shit.
How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
I hold most of my wealth in BTC. When I day trade, I use BTC collateral to leverage long (2-5x, nothing crazy) with religious use of stop losses of course. I can do this because I am very confident in Bitcoin's long term uptrend.
I was here in 2013 and 2017 so I know by now, prices are not "too high." Yes, there will be some shakeouts. Brutal ones. When it happens, stop loss your longs and get ready to buy the dip. Rinse and repeat.
We're going a lot higher this year.
January 10, 2021, 08:02:17 AM
I don't trade. Just HODL my bitcoin until it reached minimum $100k-$300k whatever i feeling it's too high, so it doesn't make me stress
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?Bitcoin was created for payment purposes, so trading it is just another way to earn profits or much worst is losing your money or Bitcoin.
Speaking of being a trader, when you just want to trade, the $8,000 price of Bitcoin before and price now at $40,000 got no difference at all if you just want to trade, the technical analysis will decide for sure, you will trade just profits, you have price target for particular trade position.
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