I would guess that if you could make a quick buck and do that many times over the result will definitely be a good one. I do get that we are not going to get a result that easily, but we are going to get something that will make some profit.
I personally believe that if we could try hard enough then making those little profits into a big one is not impossible. Of course you would have to do many of them, and that means hard work and constantly putting in hours, because you won't find them very quickly, so you will have to study really hard to make it work. I hope that people could see how it could get better, we should probably consider how to make some money easily, and that means that we need to make it work by just grinding very hard.
Topic: How short-term market speculations can help small bitcoin holders - page 2. (Read 282 times)
But he didn't grow that initial bitcoin amount though, he just took out the $56 from the increase of the value of his bitcoin holdings, it's not a good thing for him at the long run, maybe telling them to do stuff like buying back when the price is low might be of big help so they don't succumb to something that would make them enjoy short-term gains but end up with almost no profits at the long-term.
At the end of the day, Your goal in trading is to increase your fiat capital since that is the value you are using to purchased using your money. Bitcoin value is being measured in fiat amount and not in Bitcoin quantity since no merchant accepts Bitcoin directly for it value but rather they convert it to fiat value as standard currency.
Also he can still increase his Bitcoin holdings once the price corrects which is highly possible to happened on this very volatile market.
To newbies I believe their most favorable action is taking profits along the way as long as bitcoin increase in it fiat value and not minding what amount of bits they are left with.
It is in every newbie's habit to feel excited when they see little profits in their bitcoin investment. That's how I introduced someone to invest in bitcoin, they keep checking their bitcoin portfolio to see how much profit they have made from bitcoin each day.
When their profits in bitcoin had gone up, they became happy. when down, they seemed to be sad and moody, wanting to sell so that they would not be at a loss side. Which I can't advise them to do that. Although every one of us has the right to sell their bitcoin at any time they choose. But I deemed it right for us to keep hodling our bitcoin for long even if we are at profits or loss because the profits we are to make in the long run will be much higher than the profits we choose to withdraw now.
OP, your newbie bitcoin investor wouldn't have withdrawn his profits from bitcoin in the short term. You would have lectured him about the importance of hodling bitcoin for the long term, and what he stands to gain for that.
When their profits in bitcoin had gone up, they became happy. when down, they seemed to be sad and moody, wanting to sell so that they would not be at a loss side. Which I can't advise them to do that. Although every one of us has the right to sell their bitcoin at any time they choose. But I deemed it right for us to keep hodling our bitcoin for long even if we are at profits or loss because the profits we are to make in the long run will be much higher than the profits we choose to withdraw now.
OP, your newbie bitcoin investor wouldn't have withdrawn his profits from bitcoin in the short term. You would have lectured him about the importance of hodling bitcoin for the long term, and what he stands to gain for that.
But he didn't grow that initial bitcoin amount though, he just took out the $56 from the increase of the value of his bitcoin holdings, it's not a good thing for him at the long run, maybe telling them to do stuff like buying back when the price is low might be of big help so they don't succumb to something that would make them enjoy short-term gains but end up with almost no profits at the long-term.
At the end of the day, Your goal in trading is to increase your fiat capital since that is the value you are using to purchased using your money. Bitcoin value is being measured in fiat amount and not in Bitcoin quantity since no merchant accepts Bitcoin directly for it value but rather they convert it to fiat value as standard currency.
Also he can still increase his Bitcoin holdings once the price corrects which is highly possible to happened on this very volatile market.
I have a newbie bitcoin investor close to me and yesterday he made his first gains from his bitcoin holding although a small amount of profit considering his total bitcoin holdings, the gain was about $57 which for him is something he haven't experienced before and it got him excited.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
This is the happiest moment for him, but you have to be able to remind him that this is a trade with high volatility, so give him the advice to be able to take entries 2 or 3 times a day. In essence, he must learn to control profits, even though everything still looks profitable, having discipline will be more beneficial in the long run. For example, today he has made 3x the profit from his buying and selling. However, he still felt that it was not enough and did not limit himself from continuing to make aggressive purchases as if he would get the same profit. Usually beginners always have difficulty controlling buying and selling decisions, there is no target, no profit limit at any time without paying attention to trends. Sometimes they take advantage of the short time to look for quick profits but don't pay attention to the risks. He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
Don't worry for small bitcoin holder to earn much profit can try future trading, I think too difficult based on your capital around $60 to earn more than 10% to 20% in daily day trough spot trading because bitcoin price currently raise few percent in daily day. But future trading has high profit and high risk, your capital get possibilities liquidation with future trading but in this feature of trading has faster opportunity increasing your profitable although has small capital.
Indeed focus buying back when bitcoin get correction I don't sure will make faster increasing to earn much profit because too small capital when investing in bitcoin around $60 by spot trading, you have tried with highest risk but promising highest profitable by future trading or take another highest level risk by investing meme coins.
Disclaimer its not recommended to follow but just comparison with faster profitable earn with small capital between spot, future trading and investing with meme coins.
Indeed focus buying back when bitcoin get correction I don't sure will make faster increasing to earn much profit because too small capital when investing in bitcoin around $60 by spot trading, you have tried with highest risk but promising highest profitable by future trading or take another highest level risk by investing meme coins.
Disclaimer its not recommended to follow but just comparison with faster profitable earn with small capital between spot, future trading and investing with meme coins.
If the intention was to hold for a short period and take some gain then had it worked for him. But with the level of knowledge you have what was the advice you gave to him? The reason why I asked is because the short-term profit only lasts for a while and if you check it out his accumulation in fractions of Bitcoin has received. I don't know why but I am more concerned about the fraction of Bitcoin I have more than the value in USD. If he had 0.1234 BTC and since he sold and took some profit he now owns less than 0.1234 BTC.
That's right, when talking about bitcoin investment, what we should care about is how many bitcoins we own, not how many USD. OP's friend took profits and thought he had a profit of $57, but then if he took $600 to buy back bitcoin at the current price, he would realize he was in possession less bitcoin than the original.
I agree with some people here, there is nothing wrong with taking profits and enjoying them, but we need to have the right investment strategy. We take profits but then have to buy at a higher price, which does not mean we are making a profit.
Those who have not experienced any profit earlier will consider a little profit as a blessing and this step of taking little profit is better than to wait longer and lose more numerous opportunities of making huge profit. He made his entry when the price was lower and sold when he found a little profit therefore he became successful in achieving his goals.
This idea suggests that you accept the little benefit too because with such little advantages you can increase your income. We should not use our greed here because sometimes the situation becomes adverse as now we don't know that prices will go higher than 66k$ or will reduce so to avoid such doubt take the benefit on time.
This idea suggests that you accept the little benefit too because with such little advantages you can increase your income. We should not use our greed here because sometimes the situation becomes adverse as now we don't know that prices will go higher than 66k$ or will reduce so to avoid such doubt take the benefit on time.
But he didn't grow that initial bitcoin amount though, he just took out the $56 from the increase of the value of his bitcoin holdings, it's not a good thing for him at the long run, maybe telling them to do stuff like buying back when the price is low might be of big help so they don't succumb to something that would make them enjoy short-term gains but end up with almost no profits at the long-term.
I have a newbie bitcoin investor close to me and yesterday he made his first gains from his bitcoin holding although a small amount of profit considering his total bitcoin holdings, the gain was about $57 which for him is something he haven't experienced before and it got him excited.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
Making profits is normal but many people don’t always appreciate the little they get from those investments, they prefer to have an x2 profit of their investment capital which is not so. Those that are appreciative of the little they get now are those that will not miss to sell bitcoin at an high price just after the bull run, they’re not greedy and not more than plenty profits is too enough for them to get out of the market when they get the opportunity. That feeling your friend is exhibiting is so natural and it comes once in a while and I am also happy for him. If he can’t add more to his bitcoin holdings, he can hold this till bull run. That is when he’ll see the magic of investing in bitcoin, he’ll be overwhelmed with happiness to see the result of his investment at that time.
Taking profits is never wrong but I think if you are trying to use this story to give speculative advice to people with small capital then it is not a good idea. What will happen to your friend if bitcoin continues to rise to $67k or passes $70k tomorrow while he has taken profits and made a profit of $57? Bitcoin is unpredictable and no one knows whether it will decrease or increase tomorrow. I wouldn't be surprised if he gets frustrated buying bitcoin for $70K in the coming days and no longer wants to think about short-term speculation to increase the number of bitcoins.
It's probably already in the itinerary of that person that they will have to get back the initial bitcoin amount that they've invested into, I think that in this scenario, it's got something to do with them banking on the fact that bitcoin will go down lower than what they initially made a profit on and then they buy at that point but as you've already stated, bitcoin is unpredictable and it shows how it would be a bad time to be doing this especially for a newbie but in my opinion, if you're making the profit in a consistent manner but at the same keep on buying back to your original bitcoin investment value, you've got nothing to fear about. 
If the intention was to hold for a short period and take some gain then had it worked for him. But with the level of knowledge you have what was the advice you gave to him? The reason why I asked is because the short-term profit only lasts for a while and if you check it out his accumulation in fractions of Bitcoin has received. I don't know why but I am more concerned about the fraction of Bitcoin I have more than the value in USD. If he had 0.1234 BTC and since he sold and took some profit he now owns less than 0.1234 BTC.
Yeah there are various traders today that trade spot market as a short term trade just the way people do in perpetual trading. To me it’s a very risky form of trading most especially for a highly volatile trades, it can be much better without too much risk for coins like bitcoin who do not fall that hard or rather consolidate more the risk is minimal but still their is also risk there.
It is weird or not too good to risk $600 for just a gain of $57 this clearly shows that your friend has a very poor risk management that’s. If I were you I will advise him to go ahead and hold for long as the best beneficiary are those who hold for long.
But still let’s not take it away from him there is nothing wrong at taking profits at anytime just do well not to enter back at a higher price
If the intention was to hold for a short period and take some gain then had it worked for him. But with the level of knowledge you have what was the advice you gave to him? The reason why I asked is because the short-term profit only lasts for a while and if you check it out his accumulation in fractions of Bitcoin has received. I don't know why but I am more concerned about the fraction of Bitcoin I have more than the value in USD. If he had 0.1234 BTC and since he sold and took some profit he now owns less than 0.1234 BTC.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
Oh really! He made a trade to withdraw his first profit of just 57$. Bravo!If I may ask you op, did he told you about taking the profit at this premature stage of his investment before going ahead or he didn't? If it happens that he did and you didn't encourage him to be patient for the bigger profit ahead then you probably didn't do him any much good.
He may not know about this right now as he is excited about taking profit for now and if he continues that way with every little rise in bitcoin price then, in the long run when he gets to know the much benefit therein in holding for long, he might definitely not be happy with the decision you didn't discourage him from making today.
So unfortunate that newbie investors be taking evey little profit made at each bitcoin price rise when they ought to be buying and stacking (DCAing) for the bountiful harvest to come.
I have a newbie bitcoin investor close to me and yesterday he made his first gains from his bitcoin holding although a small amount of profit considering his total bitcoin holdings, the gain was about $57 which for him is something he haven't experienced before and it got him excited.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
He took the $57 profit and then let alone continue holding with the $600 that he has invested? Well, that's the sweetest day ever for someone who's new to investing in Bitcoin because we're all wanting to have that first time ever to take some profits. Give him some reminders that the market isn't always like this. Who knows if BTC is going to be down once again under $60k and that will show his invested amount lesser. It's just for the sake of making him prepared for any potential scenario that can happen because nobody knows if we'd be back under $60k or we won't be this time anymore. He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
This may be seen as the right approach only to a newbie who does not know how investments in bitcoin work's and why there is the need to hold bitcoin for long time before selling off everything and take the profits completely by liquidation of the entire holdings.
But this method you posted in the ops can be seen to be bad movement since for the fact that he gain profits in dollars and taken off the profits in dollars, but the amount of his bitcoin in bits have witnessed a loses since he excahges a fraction out of his entirely holding for me this is not real profits and ops need to change the narrative.
But this method you posted in the ops can be seen to be bad movement since for the fact that he gain profits in dollars and taken off the profits in dollars, but the amount of his bitcoin in bits have witnessed a loses since he excahges a fraction out of his entirely holding for me this is not real profits and ops need to change the narrative.
It would definitely "help" if you know what you are doing, but guessing how you are going to do is harder than you may think. If it was too simple then we would all just sell everything we have, put it on 100x leverage and then make sure that the right movement happens and we could be super wealthy.
I could sell my car, put 30k into bitcoin today, with 100x leverage as well, meaning it would be like 3 million dollars, and with just a simple 10% increase, that would become 3.3 million, so I would make 300k profit, along with my 30k back, and I could retire easily. See, just my car alone would mean that I could retire a very wealthy man. Will I? Of course not, because it is simply just not that easy, we don't know what bitcoin will do.
I could sell my car, put 30k into bitcoin today, with 100x leverage as well, meaning it would be like 3 million dollars, and with just a simple 10% increase, that would become 3.3 million, so I would make 300k profit, along with my 30k back, and I could retire easily. See, just my car alone would mean that I could retire a very wealthy man. Will I? Of course not, because it is simply just not that easy, we don't know what bitcoin will do.
Taking profits is never wrong but I think if you are trying to use this story to give speculative advice to people with small capital then it is not a good idea. What will happen to your friend if bitcoin continues to rise to $67k or passes $70k tomorrow while he has taken profits and made a profit of $57? Bitcoin is unpredictable and no one knows whether it will decrease or increase tomorrow. I wouldn't be surprised if he gets frustrated buying bitcoin for $70K in the coming days and no longer wants to think about short-term speculation to increase the number of bitcoins.
Good for him but while he just came in to the Bitcoin industry newly, you should let him know the dividends of keep holding and accumulating more even when the price has moved up higher to attain him profits.
Let him know that the higher value he accumulates is the higher chances he would stand to count more profits so that he doesn't have to continue to this emotional of being excited with little profits else when the market Price goes down to would break his emotions to be sentimental because his expectations would be continue increments while he is cashing out the profits.
Let him know that that point of time of his excitement of the market rising was just the begining and higher increase is coming to benefit him more of he can keep holding.
Let him know that the higher value he accumulates is the higher chances he would stand to count more profits so that he doesn't have to continue to this emotional of being excited with little profits else when the market Price goes down to would break his emotions to be sentimental because his expectations would be continue increments while he is cashing out the profits.
Let him know that that point of time of his excitement of the market rising was just the begining and higher increase is coming to benefit him more of he can keep holding.
I have a newbie bitcoin investor close to me and yesterday he made his first gains from his bitcoin holding although a small amount of profit considering his total bitcoin holdings, the gain was about $57 which for him is something he haven't experienced before and it got him excited.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
He bought bitcoin when the price touched $60k some days ago with a capital of $600 bought bitcoin and when the market price increased to 66k just within days, he made a trade to take the profits which for him was an exciting results and excellent one at that, so I thought sharing his experience here will give us more avenue to discuss some other possibilities as he continue holding and expecting more profits.
Not bad for a newbie at all, especially when he/she has a Bitcoin ethusiast like you around, then it would be much easier to grow his/her Bitcoin holdings.
Firstly, I would like to say that: $57 profit for a newbie who made a $600 investment isn't bad at all. If he/she continues to stay at alert(up-to-date with information) and following market speculations, then more profits are expected to come as time goes by.
Secondly, I would assume that the newbie is a short term investor, which means his/her recent profit would be use for others things that might be of necessity. Ideally, for a $600 investment, long term investment is often advice, but nevertheless, he/she should just do what's best, and I hope you are there to give your own suggestions if necessary.
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