Topic: I quit trading - page 31. (Read 242498 times)

The disadvantage of holder is you can not use the amount you are holding to invest in any place. Because when you try to use that amount to invest other fields, you are breaking your rule and you will not have profits after all is possible. So, you should keep a backup funds if you do not want to miss other chances

There is a limit for everything, you don't allow yourself to keep losing in trading because if that will happen that means you are not learning and it's better to quit and minimize your loses then look for something else that would give you a real profit. Maybe, investing by holding your bitcoins is just a safer one and the most fit for you.

Even if he held that bitcoin his losses were not justified by the price increase, he could have just held his bitcoin and he could have made money that way and he could have used the time he invested in trading in opening a business or something else that actually produced profits.

Do not give up just because you lost some of your coins. When you did something wrong it means you learn something, so never give up and learn from your experience that is how every traders are dealing everyday.

Trading is better than gambling if we are serious with our purpose of making money, in trading we will grow if we are eager to learn while in gambling it's only few people who are successful and that means the rate is very low. We need to choose where to focus and since the statistics would say that gambling is hard to win then there is no point of focusing on it to make money as it can never happen.

If you believe in a mining rig or other network-related investments, you can unleash a load of fudamental analysis and start living a quieter life. Of the many correspondences that I do, many people stop trading because they already have enough capital to quit, none of them fail like many people cry from gambling addiction.

I'll tell you so soon many will leave, realizing that bitcoin has exhausted itself and is a simple overbought, who will sell more expensively, who will buy more economically. Even other coins do not solve anything, so I did the right thing, support it.

Me too man, I much prefer investing into Bitcoin for the long term and that is it, no more trading for me, too much stress!

It really takes a lot of patience in order to win in the cryptocurrency trading. Most of the winners have the most patience and the once that are just to emotional and can't take to be more patience, usually loses the trade.

Good decision. It's very hard to make money in BTC trading.
you need to patience ....
You need to do long term trades (buy at bottom-hold-sell at top), it should increase your trading accuracy.
good luck bud ..

In trading, you only lose when you stop at a loss and never return back the fight. There is nothing wrong to go backward momentarily but just don't give up. Use that backing up to gather strength and fresh mind to plan on your next trade.

This game needs some patient, and don't try to be bullish:-*

Very accurately noticed. I subscribe to every word. This is the first thing you need to know when meeting with any cryptocurrency. Even if it beckons you so - "buy me, I'm a new star."

Since you touched the topic of trading. Can you give me or us some tips on how to do trading successfully, since evidently, you had a lot of success with it. Also, for starters like me, what is the best way to actually earn bitcoins faster except mining because I don't have the resources for it. If there are other means apart from campaigns, would you kindly share? Thanks.

When I was a beginner, I very often left trading. Especially if I was losing a large amount. But I still returned back. This is a very good way to earn. Just need to be able to do it.

Yes holding your coins is the best idea. not interested in investing in any other casinos then you can save it in your safe wallet and sell your coins when you needed money. 40 bitcoins if we convert it into the present price it is huge money you can settle your life. If I have this much bitcoins, i will stop working and start to enjoy my life with that money.

After losing at every one of my trades, I got very discouraged too. So I went back to YouTube and watched and subscribed to every Crypto channel that I could, till I found one video that made sense to me, and then a few others with the same idea. There are sites that can monitor your trades, you upload text files of reports from the Exchanges like Coinbase and Bittrex, and they produce a nice summary of all your trade details, including all of the fees. The trouble is that you can easily get out of sync, because it's too fiddly to keep up to date. A much better way is just to create a very simple speadsheet - a Trading Plan Template with rows like this:

Name of Coin             ETH
Purchase Price           0.04908410
Fees 0.25%               0.00012271
Cost + Fees               0.04920681
Cost + Fees in USD     $284.43
Cost + Fees X 10%     0.00492086
Cost + Fees + 10%     0.05412749
7 % Stop Loss           0.04564821
Actual Sell Price         0.05612345
Profit/Loss                0.00691664
% Profit/Loss            14.06%
Profit/Loss in USD       $39.84

The most important thing about having a Trading Plan template is that it would take very little time to easily calculate your 7% Stop Loss price, so as soon as you complete the trade you'll be ready to place a 7 % Stop Loss sell order, hopefully, that way you can't lose more than 7% - my experience up till now has been that as soon as I complete a trade it I can't believe my eyes at the coin manages to dip again, below 7% before I can even react, because I wasn't prepared. Then of course you're eventually forced to put in a sell order, by now it's probably 10 % down, and by the time you get your order filled, you've now lost too much for your stomach to handle.

Then, about 12 hours after you sell the stock, it somehow gains life, and blows past your original purchase price with glee, that only makes it hurt more. Learning to trade cryptos is like learning to ride a bike, you'd better figure it out fast, or it's gonna be a like a skateboard scrape video, where all you see is red, and that's a bad movie. I am still healing, and it gives me some comfort that it's a common feeling.

If you make the Trading Plan Template in a large font, you can fill the 8 1/2 x 11 sheet, and the numbers are easier to fill in and read, and it makes it more likely that you will use this disciplined approach more often in your trades. Good Luck from another Crypto Trading 'student'.

Hold it or maybe invest in a gambling site and I do hope you didn't waste it. This is one of the living testimony that holding bitcoin is still the best way for having a great number of money. 40 bitcoins is a very large money. I hope this guy take the advice of other members to hold his coins. That was 2 years ago where bitcoin was too cheap, and now it multiplied almost 30 times.

You are right mate. Even in anything we do,  a deep breath and a little walk (getting yourself out of the situation for a time being) can most of the time do the trick but not true to all though. Trading is very stressful for those people who are using a huge amount of money and are so emotional - the solution is only invest with money you can afford to lose and don't get emotional.

True that! We should not push our selves more if we think that we are being stress because of the effect trading gives us specially when we lose a lot of money. Taking a rest would help to freshen up our mind and maybe start again when you feel good.