Total since I traded might my money lost about 5 btc, after I often loss then I subtract for trading and turned to gambling, my reason is simple, because gambling is not too much thinking and rely on luck. It looks like trading is also the same with gambling, when all the analysis I used, it's no guarantee that we can profit.
I think for bitcoin, it is better to buy and hold. Trading will lose you bitcoin.
I have lost almost around 0.20 btc by trading in altcoins.It was my hard earned money which i had kept for my family.From my experience,
1.Mostly avoid newly released altcoins since most of them are just pump and dump.
2.better invest in atleast 2 years old coins.
3.Set your own target of 5,10 or 15% profit.When you reach your limit,just finish the trade.If you invest without setting any profit limits and thinking as sky is the limit for profits,then definitely,you would end up in a loss.
1. I actually look more about the new altcoins because the old ones are probably already dead except for the major coins. It is true that some coins are being raped by pump-and-dumpers but you can sometimes take advantage of this. With a sudden price increase, it's probably caused by someone about to do a huge dump. So sell at that moment and then re-buy (if you want to) when the dump is over.
2. It's unlikely that you'll find an alive coin that's 2 years old except for the major ones (duh!). Some coins don't go down to a price for people to call it a dead coin but sometimes these coins don't have any movement going on. So also check the chart about that coin's price.
3. Sky is actually the limit for profit. Any coin can be pumped to the sky but we should be more realistic. He's right. Setting a goal or an
exit point in your altcoin investment will be the best. If you get used to this, you are not going to feel that bad in the future when the coin has increased much more than your exit point. You can tell yourself that you've made enough profits anyway.
