Topic: It's the easiest to trade when you aren't trading (Read 735 times)

That's true, day trading is not an easy thing, it is really hard to earn money from doing day trading, I am happy that you have earned huge money from buying the dip two times, I was about to buy before when the value of bitcoin is $3900 but unfortunately I don't have any balance that time because I lose my job because of the pandemic, I am really thinking if I was able to buy bitcoin that time, then am I going to hold it for a long term or can I avoid selling it once it double my earnings, but I don't think that I can wait for it till BTC has reached $60k because for sure when the price of bitcoin reaches $20k that time then I will sell my bitcoin right away.

for short term trading, it is more difficult to put it into practice. requires skills as you describe. but for long-term trading, it seems easy, we buy and hold it until it reaches the target, but this is not that easy anyway, when floating plus, sometimes our psychology is disturbed by the emergence of a lot of debate in us, whether to hold or sell it. therefore even though it looks more relaxed, in long-term trading also requires a well-established psychology

This style of trading requires absolute discipline and patience because it is not that easy as a trader to wait for that long term before trading there is always an urge to trade consistently, personally as a day trader I do see many trading opportunities based on my strategy and can't wait that to execute it, if that work well for the OP I believed other busy traders can emulate that style of trading of course the OP had proven it profitability in a long run however the main problem is not knowing  the end of a dip when to buy.

Currently the market is in a phase that cannot be clearly determined if it will be very bearish or bullish, for now many are betting that it is bearish, others say that it will rise in price that the recovery is imminent, others think that when BTC reaches The $ 40k will begin its ascent, but I think that now is when there is much more instability, or the uncertainty is very great, in these cases, I always remember the advice that Jesse Livermore gives in his books, which is, many times you have to be outside the market, because there is no clarity, the market gives opportunities to enter, sometimes it is wise to wait and stay out of the market when it is not possible to understand very well.

If you do have enough funds, what do you say, of course we can do well, because we know that not only bitcoin is suitable for investment, but altcoins are also quite a lot that can be used as an investment.

but if we have not much capital, I think I have to think about holding bitcoin because its value is quite high even though it is currently experiencing the deepest correction. Likewise, ethereum is also quite high, it is indeed better against other altcoins whose prospects are also good and widely available and you can see on CMC or coingecko.

there is nothing wrong with being able to invest in a new trading company because there are many that are good and still look cheap and the prospects are also quite good, so there are many alternatives to stay smart, we first analyze as well as possible.

Making money with trading is not a easy job. If you looking at any coin chart, a buyer in deep and selling at high points is the only ways to take huge profits but this guideline has no time frame. You have to hold for any period of time or your journey ends when charts at their green candle pick. If you put amount of money in this field this strategy will gives you all year profit at one time.

That's another problem that irks me, people are checking the prices almost all the time which leads to unnecessary anxiety in trading which leads them to doubt their decisions that can cause them to panic sell and disregard their plan.

It's how some of my friends do it, they buy some coins and park it and let it sit for awhile and watch the prices, hodling is pretty much the same as this one  since it tends to get long-term instead of a short-term stint, if you aren't good or don't want the hassle that trading has then you should probably do this.

It's lower right now and I'll risk and collect some at the moment. Also, I think it may go as low as 37K, who knows... But it worths for me to buy right now.

The rule in trading is simple, it's really the simplest someone could imagine: Buy low, sell high. The problem is that most people buy at high and sell when all the hope dies for them. Crypto is a long-term, not a one-hour job. Always set stop loss on 1-2% movement, maybe you didn't buy at the right time? And it still falls? You will be able to buy more and get more profit even with some percent capital loss.

I guess everyone already into that kind of things but I'm not sure what you are actually referring to.

Everyone here is buying bitcoin or some other altcoins and definitely will plan for long-term holding with some target and will obviously make profits as well. But, OP is trying something reciprocal; they sold bitcoins and waiting for bitcoin market to crash so that they will buy back for cheaper. This way they will simply multiply their number of bitcoins.

Personally I'm not having any idea to short my bitcoins because I am afraid of missing out another round of bull run if I short bitcoins now or at the end of this year or any time. Just want to make sure that I will be having some bitcoin to cover any possible bull runs.

An interesting strategy. I am of the opinion that you need to buy some coins and keep them until you reach a certain goal, then sell them. This is not necessary to do with bitcoin, you can also use altcoins.

everyone does have their own passion. Day trading may not be your style, but day trading is good for me because of the benefits you can get every day.
the profit of day trading can also be stable by doing a good analysis. You have to know where the market is going.

If you are good at long term holdings and you are strong hold on to the long term, that's fine too. But you have to be really precise about what coins you want to hold. You don't want to hold onto coins that don't have a good future.
Each strategy has its own advantages and disadvantages, only how we can maximize the strategy.

Long term holding is the easiest of them all, and I can’t agree more. There are some coins or tokens that I’ve bought and never touched it for a very long while until it skyrocketed a bit and would take profit if I am happy with it. Day trading isn’t my style, because it’s much more riskier and difficult. I can’t even commit to do full-time in crypto trading either, because it’s not going to give me a stable income as it has no astronomical guaranteed returns.

Day trading is kind of hectic IMO, you have to check prices every 10-15mins, there's no peace of mind cause you are always wondering whats going to be the next move, I kinda gave up on day trading a long time ago, now I just buy the dip and wait for the coin to pump back up then I sell, at least I can sleep knowing I bought at the dip, buying the dips are alot more better than day trading cause day trading you could make so many bad decisions and loss alot of your capital in one day, but this method of buying dips and waiting for the pump seems to be the only trading system that has never brought loss.

Common mistake because not all would really be that good when it comes on getting in and out in the market and that what makes it more harder for us to deal with.
Its never been easy on when to get out and when to get in when the price is cheap, we cant determine on whats the possible bottom thats why mistakes like these is common.
Thing here is that you do know on how to handle up risk and handle out your finances then youre still good.Profitability will vary on how someone
will do make out trades neither they do hold or actively trading.

Honestly I am not having such a panic with bitcoins ever (but I had with all other altcoins for example recently when dogecoin was falling below 350 satoshi from its ATH of 780 satoshi, I was afraid to buy). The only problem for me is, I need to have excess money to make use of. Usually I do utilize all my spare money to buy bitcoins at dips and when bitcoin make lower low, I am simply turning helpless. Sometime bitcoin markets give me another opportunity by getting me lowest to lower at the time of my salary from regular job; but that kind of coincidence are not happening all the times. Most I miss dips or I may go buying slightly higher than actual dips.

Sometimes when prices fall, we are afraid to buy because we are worried that prices will continue to fall, it takes courage to take action, and we must be prepared to face risks. therefore an accurate analysis is needed, and we are required to learn for that

It will be easier to trade in the crypto market if you can wait patiently it's a good time to buy when prices are going down. Traders who buy and hold currency at a higher price later lose money therefore if you have to buy at a lower price and keep it for a long time then there is nothing to despair if its price goes up you will get double profit. Those who have been holding bitcoin and ethereum since 2018 have made huge profits.

thats a nice strategy. i also hope there wil be chance to buy cheaper if it really happens but i will still be patient to see how it will play out. we are bullish but correction is imminent.

Congratulations you are a true holder and one that will always have coins and that will secure your future, I have always found surprising how many people let themselves be lured by the potential profits trading offers when the success rate in most markets is below 10% and of those the ones that make a lot of money are even fewer, why people still decide to trade especially when they do not take the time to learn about the activity? That is something I will never understand.

Oh, sorry, I didn't include one thing in that post. I amn't waiting for price to experience 70% fall at the moment. I believe that history will repeat and we will see a new all-time at the end of the year as we saw in 2017. Halving happened in 2016 but ATH happened in December, 2017. I think that new ATH will happen and 65K isn't the ATH of the year.

One day, we will reach ATH and it will start rapid and serious fall, I am waiting for that time to buy and I prefer to not risk and stick with 70% fall of current price. Don't forget that bitcoin was 1800 USD in September, 2019. From 20K to 1800 USD, so? Maybe it's not a 1 month plan but I prefer to stick with long term plans. Quick gains = quick loses.

I don't use futures, I prefer margin trading, so I know what short is. But I mistakenly considered the last dump of bitcoin as a corrective price decline and believed that it would not exceed 3-5%. Therefore, I did not consider opening a short order, as the market is still bullish.

That's right, everyone has it's own skills, knowledge and strategy on how to earn money through cryptocurrency. Day trading is good enough for me because I can earn from it even for small amount of profit daily but still very helpful for me. If you want to hold and wait until your target price reach then that is also good for you.

It is a valid strategy, I agree, but its value is dictated from the time you enter in the market. Your opening position is important to know if you should just hold for years or not.

It could also be a non-viable solution to those who are looking into gaining without nothing else (as part of their income), as long as it is a side thing I do not see too many dangers. Personally, though I prefer some trading but that's personal choice

Of course it is by trading you can generate more profit than holding your coin but the risk in trading was higher than the risk of hodling that cryptocurrency. Trading, investment and holding all comes in price, what I mean is before you can start you need a capital that you are willing to take risk and also the proper management of profit that you may earn along the way. For me, there is no easy on trading, it all comes to a process. A process like investing in yourself by educating yourself by knowledge and skills about trading.

Actually to become a successful trader there are price you need to pay, more especially for futures trade it isn't easy at all, you must learn and keep learning to  grab enough knowledge about trading futures if not you keep loosing money, being a day trader you have to know when to enter and exit a trade to be in your favour, you must know how to analyze trade, learn about charts pattern! Without knowing all of this and you went on to trade futures just know it that your gambling not trading because you can not just enter at any point. Your strategy is about spot trade which is very easy for everyone, buy low and sell high. Waiting for a massive crash which happens one's in a while isn't much profitable because it takes so much time but it's a safe pattern of trading tho.

You can choose your on options as long as you understand how things works and how will you manage to compensate with your chosen style.
Losing is part of this venue of investment,

But if you always experienced that better to assess and change your plan, adjust when it's needed if there's no change it might also possible that
this place is not for you.

our strategy is excellent, it is best to keep the coins for a long time and continue to wait for its historical maximum. In your story, of course, you have chosen the most correct strategy, in which you actually gained the maximum profit. I also try to adhere to this strategy.

Trading is definitely not an easy job. It requires some experience and knowledge about specified market. Sometimes can be trade goes in your ways but many times will be failed. Even a experienced trader can not predict the market exact. So to start trading everyone should learn some basics and then enter with low amount. That's the way to go.

Expecting 70% fall from the middle of bull market is not seeming a good idea in my opinion. How about alter your target into 20% and buy back at current price levels of around $50k. This way you could earn at least $10k per one bitcoin and if you are dealing with some 5 or more bitcoins then probably you have already earned more than one bitcoin for your timely sell decisions.

Like more people have speculated, I guess bitcoin prices may double from the current ATH; so I guess it would be better if you plan up your strategy accordingly. If you sell your bitcoins by the month of November or December then I would call your strategy as too perfect but I am not sure in the month of April itself.

What do you think about futures trading? I think about this too, not too much about maybe 3x-5x or max 10x leverage to seriously amplify my profits. This is very risky but for example with 10x leverage, you would get the profit that you aim at 50K price. And 500K would look like a 5 million. (Again, this is very risky, just stating as an idea)

Thank you for keeping an eye on my topic. Do you know one advantage of futures trading? You can sell short, i.e. when the price falls, your profit like you were doing when the price was rising. Useful feature

I still haven't bought bitcoins but maybe will buy in the near future, waiting for what will happen on the market. And no, I won't experience Fomo because it's an enemy. You can't catch every moment because you aren't a whale and you have to analyze this from the very beginning. Only catch as many GOOD ONES as you can.

Yes, because you cannot predict what is going to happen next in bitcoin market if your selling bitcoins with the expectation of buying cheaper later on then market will trick you and you may not able to get back even at your selling price; I have seen many people getting back higher than their selling price just because of unpredictable volatility of bitcoin markets.

If you're good at making use of limit-stoploss orders then probably you could tackle the situation but for that you need to keep all your funds within exchange which might again increase your risk. To solve all the hassles I am just leaving off my bitcoin for years and enjoying handsome profits.

This is the best strategy for small investors. Because if someone can't have a very good idea about the market, then he can't make a profit by trading short. In my opinion those who invest their extra money and hold their bitcoin for a long time win in the end. Because trading is not an easy task, it requires a lot of hard work and the will to build skills. Those who come to trade without trading knowledge lose their capital and leave the market in a few days.

Bitcoin went deep few days ago from 60k to 49k that was a high fall I hope you were able to take advantage of the price to accumulate more Bitcoin, I was able to top up more.
Trading is not for me I was losing more than I ever gain trading.

If you are serious enough want to be a trader then you will not passed the great momment to buy and sell bitcoin to geta lot of profit. But, if you just rely on a momment that you think bitcoin price will go below or will up at the certain price after its movement then you will get a makeshift.

I mean, trading is need a strong effort. You need to know about trading strategy or making a good your own trading system. If you have already, then I bet you will what you want. I mean, you will know that bitcoin will go up to $65.000 so as when bitcoin price was $30.000 you already bought it and you sell at the high price as well so as you will get a profit that you promise.

That's obviously the question to ask. Many people think that they can buy at the low level sell at the high level and repeat this over and over again instead of just holding. Many of them end up buying at the high level and sell at the low level and losing money. This is why I do not trade, I may end up losing more than I earn and that's why I do not trade that way at all.

I just buy, do a DCA with my money and that's how I make my profit, I did buy at 6k, I bought at 20k, I bought some at 33k, I even bought at 62k before the fall, and I will buy tomorrow hopefully before it goes up too much, and I bought many times in between 6k and 62k as well. All of that helped me have a decent amount of bitcoin and a good amount of profit as well. Why would I try to ruin that with trying to trade as much as I can and end up losing it all the profits I made.

Trading can produce higher profits than holding your coins, everyone knows this, the question is if you can actually get hold of those kind of profits? And most people cannot do anything remotely close to that, if you are one of the few that can do it then congratulations but for the rest of the people this is something impossible and should just hold their coins, but unfortunately they let themselves to be lured in by the idea of more profits and then they lose everything in the process.

I never agree that lots of people are making good money from day trading; most probably what you are saying is just a delusional. Trading can be good compared to day trading when you are planning up to catch long-term trends rather than small movements which are happening within a day.

Even after following all the steps and procedures prescribed for becoming professional trader, if you day-trade then you will be disappointed at the end of the day. But, there are more chances to end your day profitable if you try to catch long-term trends; So, between long-term holding and day-trading there is another way to make easy profits but most people never consider it.

Buy during the dip, hold, and sell during the Bullrun is really effective strategy but this it needs more control to our emotion. And I could suggest not to regularly check our wallet to avoid temptations but rather to watch only the market chart for price tracking.

This is eye-opening to everyone who doesn't want to go trading as their normal life. But this could be hard when you are considering trading alone as a source of income. Trading is stressful and it gives you losses if you are not good at this.

Well, that's one strategy that works well for you. Maybe you're just one lucky chap, maybe you're able to predict the market so well but that doesn't erase the fact that day trading or trading generally isn't a good idea.
Quite a lot of folks have made so much money by day trading and just because you couldn't handle it doesn't mean others won't be able to. Day trading works just fine if you really understand how it works. If you're able to take time to learn all there is to trading and develop an almost perfect strategy ( no strategy is perfect), then you'd know that day trading is actually profitable

You know what, day trading maybe a very risk thing to do but it is also effective rather than holding in the long term.
Because on a day trade there is a probability for us to earn most of the time while on hold is not but high chances to earn big if we hold big as well something like that.

A few days later, I have to admit that OP sold his BTC in a timely manner and is now watching bitcoin decline. And in the event that bitcoin continues its decline, OP will continue to eat popcorn while waiting for its planned price to buy BTC. But if the price of BTC starts to rise by updating its ATH, maybe OP will experience Fomo.

Trading is a very good source of income. But you have to invest more time in learning and practicing the best strategy that fits you. Most of the best traders now have experienced losing money before they get the strategy that fits to them. So just do not give up easily. Everything takes time.

Buying a coin when it was raising was not really a mistake, investing in a new coin with a low volume was really the mistake that cost you so much money, buying the dip is a good strategy but most of the time it is a strategy that only works with solid coins because as we know new coins have the tendency of going up really quickly and then dump and that is pretty much the end of their live as a coin, however if you apply that strategy in good altcoins like ethereum then you have a chance to make some decent money relatively quickly.

That can be a good yet old strategy to be stated and cannot be applied into most cryptocurrencies in the market for we cannot say when and what will be the future of such coin and you might be just wasting time on keeping it on hold into your account and not making use of it on trading. Yes holding is a good tactic but still doing trading can give you an upper hand if you do know the coin and you are observant into when and where you supposed to act. Strategies when it comes to trading still depends on the individual based on his guts and intuition on what will be the right move to do. We all do know the risks associated on doing trading so keeping yourself stuck into just being safe will not make you grow and survive into the world of trading.

It was used when bitcoin was the single most profitable and tokens are not that popular, and many traders starts to lose interest after the tokens emerge and the reason is because this strategy takes too long before seeing your profit and most early traders are a bit anxious every time bitcoin price went down so they most likely to take the loss than to hope that it will go higher since to people bitcoin back then was a bit shady but once it gains popularity things has changed.

This is actually an easy strategy that doesn't require much time nor research to acquire though it takes time I'm sure those time waiting will be worth it, it is the same way as hoarding though you're not holding anything that has scarcity rather your holding your asset to sell for further profit.

I do agree with you, I have tried this one myself once and now the price isn't going down anytime soon and I am regretting what I did, good thing that when I sold my hodlings, I have a really big profit so it isn't overall as bad as it is but I won't be making the same mistake again.

Indeed, investors are failing even more with intraday trading due to achieving quick results, they cannot choose to invest in the usual way of just buying and waiting, they have to enter the leveraged market to maximize profits and save time but they fail quite a lot due to poor emotional management and being attacked by the market with strong random fluctuations. While for those who set long goals and does not participate in the market leverage, they are easy to survive and not be affected by an attack, achieving a profit under positive change is very easy.

You are right, it is not so easy and simple to trade cryptocurrency and it is far from always profitable, because there is always a chance of losing money. The fact that you decide to become a holder and hold crypto is definitely an excellent choice and the right decision. I also do it periodically. I buy promising cryptocurrencies when their price is lowered, then I wait until the price rises and sell thereby having a profit. This variation also seems more correct to me, but everyone always decides for himself what is best for him.

This is a journey of a HODLER. Once we become a hodler of Bitcoin because this is the most trusted and valuable crypto, we may get big profits after all. Although higher profits will need higher risks, I personally also feel that Bitcoin is worth investing in and hodl.
The trust is number one when going to Hold. And I imagine for HODLER of Bitcoin from only $10k to $60k right now, how profits they have been obtaining. And for me, your decision is wise enough when you decided to take profits at a certain target price and then wait for the falling price again, maybe in the bearish market later.

That is a very good way. If only I didn't need emergency money, I wouldn't have sold my bitcoins a few months ago either. Trading too often is indeed quite dangerous, just like gambling, thinking too much and then being consumed by your own greed because you want continuous profit from day trading.

After some bitter experiences I had from trading (because I'm still a beginner and haven't even mastered the fundamentals) I prefer to do as you do. will only wait if the number we want is really reached and buy if the price is really what we expect. much easier, and not draining, because we are not always stuck with price fluctuations every day, and which is definitely safer for our mental health

Trading is not only ways to gain profit, I've noticed the same thing, the best time to buy crypto is to allow it fall dip which you did.

I have remembered buying cocos at the lowest dip, suddenly there was a spike in price almost up to 80% I sold while I was waiting for another dip. It's actually the easiest way of trading and it give more profit than holdings.

The mistakes I have always did is buying the wrong coin while it's rising especially the newly listed coin, it had disrupt my portfolio a lot.

I think that’s like a normal thing that everyone is doing , only a few people are trading (though not really few, but majority of them that tries to engage in day trading are losing money, so they still go back to holding their money until the market starts growing again, that way they can make profit. That’s what I have been doing for long that I have been here, and that’s because I don’t want to take the risk of day trading, so I prefer to go long term.

Day trading is similar to when you’re into forex trading and options trading, those two are really hard and it is the same when you decide to do the same in cryptocurrency, the market is volatile and you can’t easily tell the next move.

In case of trade if the risk seems high then you can do business but you have to wait patiently for it investing in currencies like bitcoin and ethereum is a long wait you must keep in mind that prices for trades continue to fluctuate. A small change in price can cause you to lose your trade of trade for a long time the price has risen and fallen arbitrarily. However, this reduction will not be so effective that you will lose all your money trading for a long time can easily analyze and determine the direction of the market you have to learn the techniques of trading and it is better to keep stocks when the price goes down.

Very useful advice, because it is very easy to do what you are already doing, the problem is what you do requires faith and patience. Which may
not be owned by everyone, why many people choose to do day trading which has a very high risk. That's because they can't wait in the long run
to make a profit. Most people want to feel the profit as soon as possible, so if you manage to buy Bitcoin at a low price and be patient waiting for
the Bitcoin price to rise according to your target, that's something that must be appreciated. Because honestly very rarely people have the patience
like you. This is a reminder to me, that it is not difficult to make big profits from Bitcoin. All it takes is patience to wait for the Bitcoin price to rise
to reach the target I want.

It is a good trading strategy for those who are not good at everyday trading.
I also use the same strategy and make a pretty big profit. Currently I have converted a portion of my total capital to USDT and wait for the next discount.

They do differ in the timeframe and the behavior between buying and selling which it can neither be considered a short term or long term trade and comparing it out with investment
then its true that this do particularly talk about long term aspect on where you do just simply buy up on whatever price it would be and be holding up until your retirement but basing
up on what op had done then its clear that this one can be called trading yet buy low and sell high common concept but the difference is only particular on that activeness
towards those steps or decision which i can still considered to be trading.

That's investing, not trading. The difference between trading and investing is the simple fact that traders want to buy and sell quickly to take advantage of the price movements, if you want to buy low and sell high and do that again and again and again to get richer that's trading, whereas if you want to buy low and sell extremely high, like you can retire type of high, just do it once (or maybe few times at most) that means you are investing into it and waiting for it to be valuable.

This is why I think investing is easier, what you did was still trading, because even though you did it few times, in your mind you wanted to sell high and buy low again. For example I bought lower than you, and still holding, and will keep on holding until it reaches 500k, at that point I will retire, and I will just keep buying with some money I save, that's it, and that is investment.

A story of a holder indeed! Lucky are those who have enough that they are able to wait for several months or even years to sell like you do. This story could be inspiring but somehow, it is only for the half or part of the community. There are also a lot of people who are on the opposite side of the coin. There are also a lot of people who made trading their main source of income and they can't help but to gamble in trading to earn for a living.
But actually, with the availability of futures trading, many don't need to wait for the perfexct time that long in order to gain profits. I have fb friends who regularly wins in trading whether in a bearish or bullish market, thanks to their technical analysis skills.
But then again, yours is a great story to hear.

You obtained profits and that is what matters, however I cannot stop thinking that you may have sold your coins too early, if the price really goes up as much as we think it can due to the massive potential of bitcoin it is possible that a 70% fall in the price could lead us to a price similar to the one that we are seeing now which means that you are going to pretty much breakeven and this is before we consider that a 70% crash is going to be very unlikely.

I agree, I'm not yet good in trading and put some money in Binance. Even I have some knowledge about trading, it ended up losing my money because of emotion and lack of proper management dealing with right entry and exits. My emotions always going on and keep looking the price all day, sometimes I immediately get panic and sell my tokens once it goes down and which immediately get recover and get pump. The 70% corrections, I think it's impossible now due to top institutions and even the richest man own the price of bitcoins at the good price; I think a lot of rich people will not this thing happen. Most of my tokens are just for holding and I just wait the right time at the best price to sell them rather than trade them.

Yeah, choosing coins for long-term holding matters a lot as this could affect the results. But for me, the span of holding can't be fixed, because I'd never think that we never take the opportunity in selling when the market is high. Of course, I will and that is the reason why we hold waiting for that moment. If we just let it pass because we are greedy to think about it more and more, that seems ridiculous. 

If price is increased, it is good to say don't trade actually. But how if price keep getting down ? honestly i do that thing to, buy coin and hold but must be need analysis too which coin that we want to buy so it can made us profit and it is worth to waiting it. Because some coins or maybe tokens, longer that we hold thir price keep decreased and sometimes it not have value anymore.

Depending on the personality I guess. Some traders just like the adrenaline in trading that they are trading on the 15min chart. While I myself have to wait for days to see how my trades go since I'm doing it on the 1D chart.

But yes its true that when you have a position to look after, you are definitely going to watch the market price every now and then that when you wake up in the middle of the night you have to take a peak of the Coinmarketcap as to what goes on.

Here, I am completely salty with you. Also, when I adhere to the buy and hold strategy, I start earning, as soon as I enter the spot or, even worse, futures, I immediately start to lose money. Now I try to torment for a long time, so it turns out much less risk in order to lose my hard-earned money.

When we do day trading in any of the exchange site platform it will be a high risk actually, if the traders itself are lack of knowledge,
they can absolutely rekt in the end. But if you are skillful and knowledgeable in trading I can also surely assured that you can earn great in
the end 100%. Just always remember that once you it reach the higher peak price sell at once then buy in the dip something like. Although, its not that easy to apply but very effective once you get and know how to do it.

I won't advice this to anyone because OP is leaving nothing and going full on when s/he cashed out and I don't like the idea of waiting for the price of bitcoin to fall down because we don't know when will it happen or will it ever happen and if the former were to happen then you are in a world full of pain and regret since you are buying bitcoin at premium because you waited for a dip that didn't happen and when you finally bought one, that is when the price dips and you sort of panic because you are experiencing a big loss.

It makes sense but traders have different points of view.

Anyhow, if one sees that they can profit out of a certain trend, then just let them deal with it.

Maybe the best thing would be, just relaxed and don't pressure ourselves to win every time we trade. A calm mindset is necessary when dealing with a stressful environment of trading.

Well, because there is still good news around that can still have an effect on bitcoin price.
Perhpas, not being a Whale does not change the fact that you can still consider this as your game. As long as you can get along with their rules and how they play, -- you can still take advantage of the market. This applies the both long term and short term. Also, not because you are holding your Bitcoin coin in the long term does not mean you don’t need to play with the whales. Cause you still have to. You should always know when and where and get the pulse of the Whales. I deeply understand that you have your results on hold. And you also have bad results with day trading. But it does not mean that your strategy applies to everyone. Both are still risky and have people should just choose the risk they had to take or which they are more comfortable with.

When you do read up on whats the situation been said by op then its likely he's also doing those selective trades basing of on a trend or chances which can be considered to be the same on what you are elaborating on here.
They do only just differ on the intensity and duration of the time that they had been spending on seeing those charts compared to those who dont have any jobs or simply goes full time on trading but if youre
someone does have some work or other things involved in life then you would be definitely having this option and if not or as the same you mentioned about hating on seeing charts and whatsoever
then its always ideal on not to make any step further but rather playing a bit safe against with the market rather than forcing up yourself.

If you have problems with watching the charts and not having enough sleep but still want to trade learn from some day traders. They enter a session with a certain capital, trade for 1 or 2 days straight and then exit to take some time off, have good sleep and so on. When they log out of the exchange they exit to fiat or a stable coin.

There are also hybrid traders like me who sometimes take a trade but that's only when a big opportunity arises. If you don't try to chase profits but let them come to you by setting up smart long term trades you won't get so tense.

Well, I did the same thing that you did. I have not tried day trading before in the cryptocurrency market because I am afraid of day trading assets since my experience with Forex and Binary Options were very bad, so I decided to stay clear from anything that has to do with trading ,so since I got to know about cryptocurrency , starting with bitcoin, I have always made sure that what I am doing is just to invest and HODL the money till there is an increase in the market and I can sell and withdraw my money.

I was able to get in at $6k and sold when the price got to $12k cause I felt that would be the highest it would go. When the price started going up and reached $17k decided to buy again and the I held till $45k and sold half of it because I felt like the price has increased too much. But since it kept moving, I haven’t sold the remaining coins I have.

checking price is needed for day trade but they dont say that your not allowed to sleep .
do you think you can think and perform well if you dont allow your body to rest ? that is the reason why you fail but now you feel good because your taking a long breaks  .
 your trading before but not anymore because your a hodler now .  

why would you care if you impact the price or not ? your goal here is to earn and its not your problem anymore if the price will fall or rise after you trade

I'm just wondering how most people here are expecting bearish trend of bitcoin markets at the middle of bull run. Dump may happen only by next year; yes no one would predict that accurately but and I am just talking based on what we had in 2013 and 2017. Because, halving is same for bitcoins hence the bull run which is triggered by halving will be same.

Yes, catching the peak would be the bigger challenge here. I guess with the help of technical analysis, we could easily predict possible ATH. Still, we need to control our emotions for not getting tempted so that we may not take wrong decisions out of hurry.

We're on the same boat, OP.
That is my strategy too, especially after I stopped my day trading as it didn't really gave me that much profit and I would call it all losses. It was stressful actually, but then I just realized to just "screw it, I'm just gonna leave these coins into my wallet" and never to touch it ever again.
After that 3k bearish days you mentioned up to here, boom 60k+.

Different person has their own method anyway. Yea sure that works for you, but if a person is really comfortable with day trading and can maintain their money and emotion really well then it could work for them too.

This phrase already contradict your whole post anyway  /shrug, people can do anything they want whether hold it or day trade it

You made the right decision to lock in your big profit from the sale of BTC. But for me, such a solution is not acceptable, because I will not be able to just sit and wait for the price of bitcoin to fall, as you expect by 70%. In addition, I do not believe that the price of BTC will fall to 18 thousand dollars, because the bulk of purchases are made by institutional investors at the level of 30 thousand.

As far as I understand, the problem is that people want to earn daily money from trading and that's where they make the mistake. In trading, you do great money when you actually don't give a shit to your money. It sounds like when a new gambler who doesn't know anything wins more than an experienced one.

Personally, I suggest with savings that I know I won't have a need until the next halving. Day or frequent trading can bring you enormous profit but that rarely happens and it can mess up with your nerves, it's much pressure for me. No sleep, constantly checking prices, anxiety, worry, etc, doesn't worth for me but it was a good experience to understand more things in trading.

Does -70% drop wont be possible as of these current years on bitcoin market? Im highly doubting on that one but basing up purely on the current condition
in terms of adoption and recognition then im really agreeing on the thing you've been saying.Also into that kind of trading where you do just simply hold
does show off that this type of trading is a swing one or trend trading where you do wait up for a particular price dip and sell later on into your targetted price.
Its just some situation where luck is a bit relevant aside on to your made specialtions.Getting a right call to buy and sell isnt something easy to be done.

Buy Bitcoin now and check it back after 5 years, I'm not sure if that really works for me. I'm not going to call myself an impatient person but as a holder, maybe it was a good idea to monitor our investment from time to time, not saying everyday. Why I'm doing this is to know if my funds are still there and to know as well if we are already in profit.

Well, I could see a disadvantage as this could also tempt us to sell our Bitcoin without reaching our target goal but if we are committed to sticking to our plan, I know we can make it.

You have taken a good decision so far, but you were lucky enough. To be honest I am one of the losers who lost funds in day trading. Sadly I lost also in rarely trading as you said. Because I held a few fucking shitcoin. So I lost my portfolio more than 10X. It seems you have taken a real-time decision where I was failed. On the trading, I am really not lucky at all. I agree with your current decision as you sold Bitcoin. If bitcoin dump as your desired price then you will be lucky again. Although there is less possibility to drop 70%, there would be a big correction. Perhaps that time you would accumulate some Bitcoin. Anyway, best of luck to you.

Since you're investing on a long term basis, it sounds pretty much like investing to me instead of trading. I had some Bitcoin not a full one though when it was $6K back in July last year and I held but it's just too bad because I sold closer to $15K because I was thinking it would drop back when it gets closer to the 2017's all time high. Overtime, I have realized that long term investing is much better than short term trading since there's more profit potential when you invest long term.

Anything can happen in the crypto market, even if large companies and organizations enter the market, it can still collapse.
Companies are only looking for profits and they will leave as soon as they feel their profits are full, so people should be careful with their transactions.

Sounds great that you are really making off profits on  the way  that you do deal with the market but we know that not all does have that kind of patience when it comes to trading.

Majority will really be just doing active trading instead of holding and waiting for too long.Yes, the risk is way higher since you are playing with the waves but the amount of profit

that you can possible generate is more than on the amount that you had gained on holding for some time because basing on what you had elaborated then
its a long term process and not all could deal with that.

It will be easier and profitable if you are good at predicting the ATH and more importantly low-price as well.
I know that one of my friend did the same but he bought earlier rather waiting for catching the all time low of cycle. So, we must need to be good in predicting both ATH and low of cycle because when we are missing out either one of these then the level of profitability from this strategy will get reduced.

I'm just calculating how much I could have earned by this price level of bitcoin if I would have sold my bitcoins above $19k and might have bought back below $4k levels. That is definitely more than 4x than what I am holding till now.

It's a very good strategy, but it's not easy either. To be able to complete such a strategy requires a very high level of patience and good market research ability.
You are probably right, BTC's cycle is 4 years and every cycle after BTC will have a price higher than the peak of the previous time.

Sold today? Don't you think it is too early to sell your bitcoins? Because we are still in April month and it is highly expected that bull run will continue till December month. I am able to understand your target of getting back after 70% fall but it should be from final ATH and not from today's price levels.

I assume you just took decision too early because of bitcoin is already trading around huge price levels. But it is huge only for our eyes but for markets it is just 3x growth from previous cycle's ATH. Usually bitcoin markets will grow 10x from previous ATH after halving and also may grow 100x from previous cycle's low. So, I am afraid that you may stay away from enjoying for the remaining part of current bull run.

It seems that many people in this market have tactics like you
Because not everyone can be a successful everyday trader, keeping in the short or long term is probably the plausible tactic for everyone.

Outstanding spirit. But you have to know that it is hard for people to change their habits, especially when they have the faith of being rich with day trading. It is ironic that only people who trade less are the ones making money with trading. I do want to be as relaxing as you, but my current budget does not require me to do so. So I choose to week trade which is in the midst of day trade and long term trade. Surprisingly, I manage to have a decent consecutive profit over the past few months. Do not know whether it is because of my trading method or I am lucky during the uptrend

Last words, Congratulation on  your success. 95% traders lose their money and you are undoubtedly the best of the best

Interesting to see that you are doing what I do exactly. It's good that doing some trade is better than Holding tightly. But the trade need to be successful.

From my experience I want to say if we holding fund on exchange that give us a huge mental pressure all the time. But if you hold the coin in external personal wallet, This problem will increase and we will not be panicked when price start to goes down.

The bad things when I keep any coin in exchange....

1. I have to make some profit soon
2. All are pumping but my coin is not
3. Price checking is common things in this case
4. People are doing 2-3x in a day but I can not
5. My luck is bad always

at the end I see I panickly sell the coin and invest in another coin. First one start to pump again and second one start to go bellow again. So it give us double lose.

I think so too, often we see prices make our minds messed up with rising and falling prices, it will drain the mind to continue to see it regularly, just seeing it will make us think where the price is going, inevitably we have to analyze to find out, and that's not necessarily true. Therefore, constantly checking prices is not a good thing. You can - it can ruin the plans that you have made later. It is enough to look at the price when issues or news arise that can make it go up or down. If you are in top crypto, like Bitcoin. Don't worry about the price drop, because after a decrease, there will be an increase in price as well. Unless you are going to be trading your day on that day, you do need to see it on a chart. But as a holder who aims to invest in the long term, I don't think you need to worry too much for crypto like Bitcoin. If the price goes down, you just have to wait for the price to return to normal and the price will continue to rise over time. Moreover, you have prepared it before the halving, it will be very profitable. Indeed yes, patience and perseverance are required in both short and long term trading. And one more thing, staying calm in all situations that occur, it can make you think clearly to find a solution, the point must be mentally strong.

That's a good profit and congratulations on what you've achieved, waiting for that long isn't easy though.

It was folded the profit for how many times if you bought from the price of $14k and sold it at $60k, it's a wow!
That's how long time trading work and the same as you, I'm also waiting for the perfect time to invest and it might hard for us to tell when the price will dump since Bitcoin price was continuously rising up and there are big companies or institutions who invested and adopted Bitcoin, I think there's no way to down 70% from this current price.

It's really hard to predict when is the perfect time to reinvest, but if there's a chance that Bitcoin price will go down at least in a price of $40 below, probably that's a good sign to invest.

It depends, if you are good at long term trading then don't try to do other things which aren't working for you, just keep your own strategy and you will be in profits when you have enough patience. Day trading is easier too buy you lose too often which nullifies the profits you made from your previous trades.

Yep,day trading is difficult.Not everyone can become a successful day trader.
I'm not a day trader and I will never be.I'm more like a "short term HODLer"(I know it sounds absurd).
I HODL some BTC for a while,but when the market gets a little bit turbulent,I get anxious,so I sell my BTC,usually at the wrong time and for the wrong price.
This year,I'm going to stop caring about the price fluctuations and focus on gaining as much BTC as possible.
This is easier said than done. I will probably freak out again,if there's a price crash back to 30K USD.

You know what? I rarely check the price. I consider my psychology in trading, constant check of price makes me insane, so, rarely check and that's where I win. But I often read news around crypto and always consider the hot topics. You always have to be updated in crypto world or you'll regret it.

And... The harder you rise, the harder you fall and opposite.

Another working method is that you should trade with the money that you can hold for 4 years. Bitcoin will always reach it's all time high.

I think 70% correction is not possible to happen now because many big institutions already invested in bitcoin. Many buyers will be catching the dip before it reaches that point. I really don't know the reason how bitcoin increased and dropped that much in 2017, some say it was because of FOMO that it drove the price that high but they don't say what really caused it. Now with the current price of bitcoin, a 30% correction will be already huge so I hope it won't go higher than that when it happens.

It's quite an old trading strategy and seems to be one that works a while.

I remember at $3k the only thing I was certain of was that we'd reach $15k again (because we already had).

I actually predicted the coronavirus drop but moved my x btc@$4k order (disappoinringly).

How often do you check the charts? Id probably have an alert set for when we're oversold so I could sell my btc at the first peak (~58-62k instead). But profit is still profit. Do you make much off your fiat when you pull it out (interest wise - binance were offering 6% on euros a while ago)?

It sounds curious, yeah? But that's what I have been doing for years. I just hold my money in my wallet and rarely touch it. Once I was doing day trading but it was affecting me in a bad way, I wasn't sleeping, was always checking prices, was making bad decisions. You can easily earn and easily loss money in day trading, so this is what I did:
I was looking for prices very rarely, would wait and wait until there was serious corrections. For example, years ago after ATH 20K, price went down to 3K. I thought that was the great moment to buy btc and glad I did it. Then I didn't give a shit to whether it become 4K, 6K or etc, yeah it was double profit but still, I believed it would rise and whuola, it reached 14K after some times. I was thinking that it would reach all-time high but sold at 14K, then quite trading for months and only bought at 9K and waited for the halving period, glad I did that.

And recently, you know bitcoin become 40K, then 30K, yeah, I waited until 60K and sold all of my coins today Will price rise? Maybe but I'll wait for another great dip, at least for 70% fall. So, today is the end of my journey for a while.

Trade rarely, don't make it your only profit source and don't trade often. If you aren't whale, you can't impact the price, so, not your game - not your rules