Is it worth for me in my situation to start btc trading? - page 5.

jrrsparkles

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Quote from: xamxam on October 03, 2019, 02:14:28 AM

300$ is a good start for you to do trading, and I believe that you can double it in one month mate.
But of course, while you're doing it, you should also do some self study about trading in this crypto business
because you're gonna need it here as an individual trader.

100% profit in 30 days is not possible all the time,so don't get this kind of goals to be achieved especially when you start your trading career because you will end of with 100% loss.Keep the things low as much as possible,like 10-15% will be a good target and avoid intra day trading as well when you are in learning phase.

xamxam

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300$ is a good start for you to do trading, and I believe that you can double it in one month mate.
But of course, while you're doing it, you should also do some self study about trading in this crypto business
because you're gonna need it here as an individual trader.

Freddy11

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It’s always worth it if you are sensible with how you are operating. If you are not having common sense, it’s just not going to work for you. So our main priority needs to be around getting that thing right only. If we manage to do that it will for sure get us on the right side of things, which then will eventually lead to results that are fruitful for us. One simple formula is to track Crypto News, which is enough to get us to the right direction.

ethereumhunter

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Quote from: ?? on ??

Everyone has a critical issue when no further move can be taken. But thats the step which is appreciated to move to next level. Trading is a good platform to gain profits. I would advice you to learn the basics first. Take time in analyzing. Then move. Patience is the key to succeed.

We need learning in trading to make a profit, and there is many basics lesson of trading for new people or even for every trader who already knows to trade. As long as you have a will to learn, you will have the knowledge to trade so you can determine the right time to trade. It is hard for the first time, but if you still trying, you will have a chance to make a profit. Patience will be needed in trading as you will see the market will not always move to the price you want.

doomistake

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Quote from: Mahanton on September 19, 2019, 06:09:19 PM

Quote from: michellee on September 14, 2019, 02:10:01 AM

If I were him and I have $300, I will buy bitcoin first, then eth, bnb, atom, grin, and some other low coins price. I think that is enough to get some amount of each coin and I can wait for another time. I don't just hold each coin, but I will sell the coin if somehow the coin can increase higher at least 10% from the price before so I will have the opportunity to buy back the coin in a low price. The bearish market now gives a chance to us to buy as many coins as we can, and that will depend on the money we have.

For the amount of $300 its somewhat hard to diversify into various number of alts in the market.I would rather focus directly or all put up into bitcoin or ETH with this case even just simply holding up you can earn various percentage profits depending on your entry point.Yes there were lots of coins in the market it will depend on the money we would able to risk out.We can start up trading if we do like but it is much wiser if we do trade up with small amounts and dont ever use up on to those capitals or money that you had been borrowed or simply your savings.

While you are doing this, you are also minimizing the profits you could earn compare if you will also check out other altcoins which are good to trade too, aside from bitcoin and ethereum. It is a double edge sword that could cut your profits or could be your weapon to maximize what you can earn. It is not that bad to apply this strategy, focusing on just two crytocurrency means you are staying on the safe side.

Furthermore, if you successfully mastered or understand how trading works using this two cryptocurrency you have mentioned, you're not going to have a hard time trading other altcoins.

d3nz

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Actually, it will depend on how much you will spend to invest and depending on the market if it will go up or down.

$300 is good and you can buy altcoins that have a small price of satoshi and if it will increase then you gain by it but depends on the value and you will just need to wait for BTC to gain its price. But if you have a target value of profit every day or month then you will need to analyze the market and focus on it and in your case, it's not possible since you have other work to do.

o48o

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Quote from: 1R1S on August 29, 2019, 02:38:23 PM

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

Answering to your first question, everything is possible but don't set your expectations so high. I am assuming that you don't have a background in trading, otherwise you wouldn't ask if you can do it. So there's a learning curve with technical analysis and dealing with emotions. And that learning never stops.

And to second question:
After you have bought bitcoin from somewhere with fiat money, with amounts like that it will be easy to find exchanges and start trading btc without a kyc. And you should definitely go with those. It's cheaper and less time consuming. With binance there's a decent daily withdraw limit without any real kyc.

And then you need to decide your strategy. Playing with leverage, low cap shitcoins, swingtrading, or high frequency trading.
What ever you decide, just know that it will be time consuming. This is a 24/4 space with constant newsfeed, this can literally take more time than most jobs.

lobeyou

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Quote from: 1R1S on August 29, 2019, 02:38:23 PM

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose.

Quote

Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job.

It seems to me that you actually can't afford trading momentarily.

Probably the best advice you will ever get is don't trade when you're in a tough financial situation. Especially if you're just starting out: this is the worst time you could begin this journey.

Think long-term and don't chase a quick buck. 30 days is not a long time so you would probably put unnecessary pressure on yourself if you were to trade with a deadline.

Unless..

You secure at least 1 source of income, like a job or something. Then use your free time to study trading and maybe test out some strategies. When you're comfortable deposit a small amount of money. See what changes in your mindset and what you feel when in-trade. Can you do it? Repeat until you're sure. Let it accumulate. Your position sizes will grow exponentially. Happy? Quit your job. Congrats, you're probably in the top 5% by now.

Did that take 30 days or less? Ah.. nope.

Good luck!

doomistake

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Quote from: UsernameBitcoin on September 30, 2019, 07:34:43 PM

sometimes you will buy high but the market will not come back down and you will lost everything. well you won't lose everything

I am definitely confuse right now, what you have said is so contradicting thusly doesn't make sense at all.

Quote from: UsernameBitcoin on September 30, 2019, 07:34:43 PM

sometimes you will buy high but the market will not come back down and you will lost everything

correct me if I misunderstood your post but I think this is a good news after all, buying in a certain amount then suddenly "the market will not come back down" means that it goes up (obviously), the next thing would happen would be that you made profits because you bought at the right moment. It is up to you what next move you are going to make to make even more profits more than what you have at the moment.

Quote from: UsernameBitcoin on September 30, 2019, 07:34:43 PM

but you will have to re-buy into the market and you will lose some money, and it won't be good.

Re-buying altcoins that you will use on Trading is not a loss for you, it is an investment, you buy therefore you are holding an amount of money that could be double or even triple when you get lucky if the market continue to rise.

Mpamaegbu

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Quote from: harizen on August 29, 2019, 03:14:54 PM

Quote from: 1R1S on August 29, 2019, 02:38:23 PM

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

It seems you've your eyes already set on the expected profit. This thing doesn't really work out like that, at least most times it doesn't. Set your mind on learning the techniques involved in trading before counting chicks that haven't been hatched. Trading is very lucrative once you acquire the set skills and this I encourage you to do. Besides, there is always that caveat at the bottom of trading sites and exchanges alerting you of the risky nature of trading. You can easily lose your capital too just the same way you can double it.

pinggoki

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Quote from: 1R1S on August 29, 2019, 02:38:23 PM

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

It is still worth to start trading Bitcoin and it all ways will due to that fact that bitcoin is fluctuating so even if you purchase now you can still able to get a high return in the future however, the problems is the time. As what you have mention you only have a month to trade which is not enough if you have no idea in the industry. It takes a lot of time in order to gain knowledge and experience which is the most important thing unless you have already familiarize in this transaction.
With regard in you can able to trade while doing programming, I think we should leave the decision for you because you owns your time you are the only one who can manage it.

PuertoLibre

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Quote from: cosmofly on October 02, 2019, 12:34:02 AM

Quote from: 1R1S on August 29, 2019, 02:38:23 PM

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

Yes, you can make money even if you spend 3-5 hours a day. but make sure you have market knowledge as well as TA knowledge. That will make you a lot of money if you anticipate the right direction of the market. Margin trading is a type of trading that helps you earn a lot of money in a day. You should try in Bitmex or Bitmax exchange.

Instead of throwing a free BTC to the Bitmex, I suggest learning about financial security for the rest of life. After having enough practice with the demo accounts, it will be the same experience rather than wasting time with emotional trading on the margin trading accounts. It will turn to the sports betting if there is a skill for analyzing the market conditions and having a proper technical, fundamental research ability IMHO.

jmigdlc99

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Personally, i'd recommend going for the full time job.

With all the abundance of responses, i had hoped that the topic starter would return and give us an update on what he did with his life. Would be interesting to see if like other people he was able to use leverage trading and turn his $300 to some crazy number like $300,000. Well, it's quite a longshot but theres always this chance of getting lucky.

cosmofly

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Quote from: 1R1S on August 29, 2019, 02:38:23 PM

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

Yes, you can make money even if you spend 3-5 hours a day. but make sure you have market knowledge as well as TA knowledge. That will make you a lot of money if you anticipate the right direction of the market. Margin trading is a type of trading that helps you earn a lot of money in a day. You should try in Bitmex or Bitmax exchange.

KnightElite

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It is really worth it to trade if you fully understand the whole cryptocurrency market. Trading is not an easy task because it requires a lot of strategies and studies that you should use before you can increase your capital.

Polar91

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Nothing is impossible in making profit in trading. However, a trader shouldn't be expecting certainly for his trading profit and his activity since your activity depends on the market movement and your trading strategy at the same time. Sometimes they don't work as what you planned thus you have to imporivise which differs a professional traders to common traders.

jrrsparkles

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Quote from: Meowth05 on October 01, 2019, 02:39:13 AM

~....~
Excatly, it is possible to earn trading in a short time however the problem is that you must learn first the fundamentals and get some experience. If you just enter the industry without knowing nothing then I'd say that all of your capital will be in vain. By looking for the given time frame I think it you are still in the learning stage so it would be impossible for you to earn that quickly.

Only one thing is enough to start trading for any one "Buy low and Sell high",by following this itself anyone can make profits.

People hear something about more profits from crypto trading so they come here and expecting to be a millionaire in over night which will not happen to be honest but people who don't realize it start blaming crypto trading profitability.

ChrisPop

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First of all who is your friend that recommended you to start cryptotrading? What's his occupation? I have a rule that I don't take advices from people who are not where I want to be in life.
Then do you acknowledge that $150-$250 in a month is almost 2X your capital in 1 month? You know that the best traders make steady 20-30% returns per YEAR. Learning to trade consistently profitable is one of the hardest things you can do in this world as it requires a lot of mental preparation. As the saying goes you need 10,000 hours of looking at the charts to become an expert.

michellee

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Quote from: Mahanton on September 19, 2019, 06:09:19 PM

Quote from: michellee on September 14, 2019, 02:10:01 AM

If I were him and I have $300, I will buy bitcoin first, then eth, bnb, atom, grin, and some other low coins price. I think that is enough to get some amount of each coin and I can wait for another time. I don't just hold each coin, but I will sell the coin if somehow the coin can increase higher at least 10% from the price before so I will have the opportunity to buy back the coin in a low price. The bearish market now gives a chance to us to buy as many coins as we can, and that will depend on the money we have.

For the amount of $300 its somewhat hard to diversify into various number of alts in the market.I would rather focus directly or all put up into bitcoin or ETH with this case even just simply holding up you can earn various percentage profits depending on your entry point.Yes there were lots of coins in the market it will depend on the money we would able to risk out.We can start up trading if we do like but it is much wiser if we do trade up with small amounts and dont ever use up on to those capitals or money that you had been borrowed or simply your savings.

It depends on the coin you want to buy. As long as you can buy a low price coin with the potential to increase, you can make a profit later. But that will not work if you purchased a high price coin because you are hard to make the profit. Sometimes, the low price coin can increase 2-3 times from the last price, so if we can buy a large amount, and we can make a big profit too. That is a solution for people who don't have a large amount of money, but they want to try to make a profit.

AicecreaME

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Quote from: 1R1S on August 29, 2019, 02:38:23 PM

So my questions are:

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

If you are a quick learner and a smartass person, I am sure you could do this in just a month. Do time management, set how many hours you want to spend in reading and watching about Trading, set how many hours you want to spend applying it, last but the most important, spend also time with yourself, I know it is hard living alone and not having an income, but you have to take care of yourself still.

There is a quote I've read yesterday saying "If you will not spend time for your wellness, you'll be forced to make time when you are sick" and that hit me so hard, working hard is not bad, but working too much is.

Topic: Is it worth for me in my situation to start btc trading? - page 5. (Read 1378 times)