How many beginners make money trading in Bitcoin?

Velkro

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Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

I wonder how many beginners or new members are able to read the market accurately enough to make a profit from trading.

Not many, its similiar to forex, very few actually make money.
Bitcoin is maybe little easier than forex, not so unpredictible, but still trading is only for mental stable people out there.
Big risk, big reward, so few beign able to do it properly.

odolvlobo

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Quote from: pooya87 on October 14, 2018, 12:26:50 AM

Quote from: odolvlobo on October 13, 2018, 02:43:09 AM

Quote from: pooya87 on October 12, 2018, 11:46:11 PM

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

Always remember that for you to make a profit, somebody else has to make a loss,

not necessarily. imagine someone buys bitcoin at $1000 and then sells it to you at $2000 and you sell it at $4000. you both doubled your investment and "won.

The best way for a trader to measure success is by comparing their return to simply holding one side or the other. In your case, the price rose from $1000 to $4000, so the first trader lost $2000 and the second trader made $2000, for a net of $0 -- it is a zero-sum game when you remove the returns from simply holding.

all you can say is that first trader missed out on an additional $2000 profit. but he didn't lose anything because he invested X dollar and got 2X dollar out and that is considered a win not a lose.

The point I was trying to make is that it is a zero-sum game when you remove the returns from simply holding.

Retty

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I avoid trading Bitcoin at present and just continue to accumulate. That said, i do trade alt-coins with a pretty decent success rate mainly based on basic TA and FA, aswell as any events or product releases that may be coming up in the near future. I'm a swing trader and happy to remain that way, i literally don't have the time or patience to sit in front of my screen all day! Cheesy

I havent been brave enough to dip my toe into the water of shorting/longing Bitcoin as i think its very easy to blow your cash and akin to gambling unless you 99% know what you are doing. Though i must admit i have been tempted... Cool

sarmrakib

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Actually trading is always difficult option to earn for all even who are experienced too. Need to judge the momentum and lots of technical issue. It is always hard to gain from here even who are experienced. Beginner's should try start trading after getting a proper knowledge. So that he or she needs to learn first either will be looser.

Ardavan2150

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I joined the crypto world in November of 2017 and I was never able to make money from Bitcoin. But altcoin trading, holding and ICOs, hell yeah.
to be very specific (for no reason at all) I've put around 1K and got around 5K out to pay my credit card debts. That's the best I could do.
I am sure you can make a living by trading Altcoins even today since the price fluctuation is a lot higher.

Gloverwrt

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Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

I've seen several members claiming to make a living by trading Bitcoin, and, whilst this is possible, it does require quite a degree of sophistication in my opinion. Always remember that for you to make a profit, somebody else has to make a loss,

Not quite. I think when arbitraging you are just taking advantage of contrast in different exchanges. So no other person is directly taking a loss..

But in trading generally, others lose for you to gain. And mostly the patient are in the receiving end.

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

and the odds are even further against you, as there are two lots of trading fees that will be taken by the exchange. and there is probably a price spread to consider as well.

The price of Bitcoin seems to be manipulated at the moment, and many statistical changes seem to be triggered by major investors, rather than an indication of a price trend as a result of general market valuation. So, given that the odds seem to be stacked against you,

This are problems faced by newbies and experts alike. And the price of bitcoin is not so easily manipulated anymore. And it is less prone to sharp drops and pumps.

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

I wonder how many beginners or new members are able to read the market accurately enough to make a profit from trading.

If they can indeed read the charts accurately from the get go, then they probably have experience in trading and price analysis from some other area.
Aside that, skill and ability grows with practice and experience.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

It does not matter if you are a beginner or a old trader, the price trends are out there for everyone to evaluate and you must gamble on the outcome of your decisions. This is a high risk investment for everyone and manipulation rumors is just an excuse for people not to try. A recent study has shown that a small percentage of whales have the ability to manipulate the price and they are not doing this. Roll Eyes

People win and lose money on the stock exchange too, so why is this unique to Bitcoin?

pooya87

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Quote from: odolvlobo on October 13, 2018, 02:43:09 AM

Quote from: pooya87 on October 12, 2018, 11:46:11 PM

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

Always remember that for you to make a profit, somebody else has to make a loss,

not necessarily. imagine someone buys bitcoin at $1000 and then sells it to you at $2000 and you sell it at $4000. you both doubled your investment and "won.

The best way for a trader to measure success is by comparing their return to simply holding one side or the other. In your case, the price rose from $1000 to $4000, so the first trader lost $2000 and the second trader made $2000, for a net of $0 -- it is a zero-sum game when you remove the returns from simply holding.

all you can say is that first trader missed out on an additional $2000 profit. but he didn't lose anything because he invested X dollar and got 2X dollar out and that is considered a win not a lose.

odolvlobo

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Quote from: pooya87 on October 12, 2018, 11:46:11 PM

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

Always remember that for you to make a profit, somebody else has to make a loss,

not necessarily. imagine someone buys bitcoin at $1000 and then sells it to you at $2000 and you sell it at $4000. you both doubled your investment and "won.

The best way for a trader to measure success is by comparing their return to simply holding one side or the other. In your case, the price rose from $1000 to $4000, so the first trader lost $2000 and the second trader made $2000, for a net of $0 -- it is a zero-sum game when you remove the returns from simply holding.

r1s2g3

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I am alive but in hibernation.

My Experience says if you are in trading , then it is very important to book profits at right times. Since market is very volatile so it is advisable not to take risk with any shit coin (how lucrative it feels because you never know when it will be dumped.)
Trading in Cryptocurrency require knowledge of both cypto and trading principles.

I did trading and successfully converted my "X" to 3X (3X look small but see I got my BTC around 15K USD price).
Now with all bloodbath that 3X come down .7X(last I checked about 2-3 months back) and now I do not trade and check any price.

Dominic_Johnson

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From what I have seen, it is quite small. And, additionally, you likely only see the spectacular successes or failures mostly - you don't see the moderate community that are slightly successful or lost only a small amount (people aren't generally interested in hearing about that, they want something 'juicy'). So although I believe it is small, I don't think you would be able to calculate exactly because the true numbers of newbies involved in actually hard to ascertain 100% accurately

pooya87

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i think it depends on the "beginner". for instance someone coming in crypto while having some background of trading and a willingness to spend time looking at the charts instead of looking at dumb youtube videos from so called "experts"! will have a much easier time and will be more successful than someone who looks for "signals" and those idiots who call themselves "experts" giving them bad advice to pump the coin they are bag holding...

Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

Always remember that for you to make a profit, somebody else has to make a loss,

not necessarily. imagine someone buys bitcoin at $1000 and then sells it to you at $2000 and you sell it at $4000. you both doubled your investment and "won.

hubballi

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As soon as starting trading wont think that 100% you will be in profit first you have to take loss and learn the mistakes which will make you wise and as much as you learn your mistakes you will become more pro trader. If you are smart then you can join in bounty and get free tokens and trade them in market and learn trading and through this experience you can start investing and do trading.

The main point in trading is that you wont be the first to enter in low and you wont be last to exit in high. So what ever profit you get be happy with it and dont run after the profit or loss that you gain after your trade. If this point is noted then mostly you wont be in loss.

Jet Cash

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Quote from: Hivalley on October 12, 2018, 03:14:23 AM

it doesn't take much to learn how to study the market and check out for trending signs

I don't believe that the normal statistical signs work for Bitcoin, especially during periods of low volume. It is too easy for major investors to create false flags. More important signals are things such as the fact that Harvard has now lined Yale in buying in cryptos for its investment funds. However, that is a medium term signal, and not a short term indicator.

payjoe93

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Hi, I was one of beginner / newbie who make money in trading. But, as a beginner, i spend my money just less than 50$ for trading. Actually, i was not really think about make a living with trading. My purpose is just to learn and gain my trading experience. If i make a profit, maybe that was my luck.

So, If (real)beginner who has already make money in trading, im sure, his luck is more than his skill. As i know, Trading is not worth if you dont have a big fund. IMO, Trading just for a sidejob for me.

Hivalley

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I do not really feel it's all about either being a beginner or an expert as anyone could be prone or vulnerable to losses,be you a pro or a noob

Though you may be right that the chances are far higher for the beginner to incur losses,but it doesn't take much to learn how to study the market and check out for trending signs

Though those signs most times do not really guarantee a successful trading

Zhen Zhibing

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I start with crypto trading last year. Before starting with crypto, i have traded forex for 5 years and i get in the crypto world when it was in the bull run so at that time i see it's much easier than forex. I could get profit with any coins and 10% each day was very easy last year. Recent months it's become harder, seems that the money flow starting run out of this market. I'm returning forex and keep operating in moderation in crypto market.

Coyster

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While it's definitely going to be difficult for a noob to effectively trade,and maximize profits without the required experience in the market,do not forget that they probably were introduced into trading possibly by someone who has a larger percent experience than them, so it wouldn't be a problem putting them through on what to do and what not to do

With all that it shouldnt be much of a problem for them to trade effectively and maximize profits

mk4

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Just to answer your question: the percentage of "newbies" that make money trading bitcoin is surely very small. There are definitely some people that do make money though. I have a distant relative that doesn't know anything about bitcoin besides bitcoin being an online currency, but that relative now does trading for a living after a lot of studying.

Banemu

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Quote from: Jet Cash on October 11, 2018, 05:46:25 AM

I've seen several members claiming to make a living by trading Bitcoin, and, whilst this is possible, it does require quite a degree of sophistication in my opinion. Always remember that for you to make a profit, somebody else has to make a loss, and the odds are even further against you, as there are two lots of trading fees that will be taken by the exchange. and there is probably a price spread to consider as well.

The price of Bitcoin seems to be manipulated at the moment, and many statistical changes seem to be triggered by major investors, rather than an indication of a price trend as a result of general market valuation. So, given that the odds seem to be stacked against you, I wonder how many beginners or new members are able to read the market accurately enough to make a profit from trading.

A profit on your side surely and most likely means a loss for someone else. I have engaged in BTC trading in the past well, until I had my account stolen due to hacked email and lost it. For now, I am trying to rebuild that's why I am on this forum

Topic: How many beginners make money trading in Bitcoin? (Read 444 times)