Keep proper distance but not losing passion - page 4.

fasdorcas

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Quote from: deisik on March 31, 2019, 03:41:50 AM

Quote from: Indamuck on March 30, 2019, 08:21:22 PM

Daytrading is essentially gambling the money is in long term holding

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

Day-trading can be a bit complicated and riskier than long term trading and perhaps so @Indamuck compares day trading along with gambling. Day-trading usually goes smoothly with higher trade volume coins as there always are much buyers and sellers for the particular coin flying the price and giving us a opportunity to make minor profits in short term trading.

Whereas we entirely wait in long term trading to expect the price reach above our limits and than we place sell orders. Usually long term trading can be profitable and hence is considered by various traders. Short term trading will really require a lot of knowledge and ability to graph the price index to see profits growing up.

pinkpanther03

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With the current situations where the market is a bit stable for some time already, it is better to start building up portfolios by acquiring stable coins. It might be a good strategy of somehow not thinking of the profit right away. Instead, think of the future bullish event. This year is just like 2015-2016 where only few people believed, until 2017 made a huge transformation the cryptocurrency. Moving away from trading, staying by investing long term.

Ucy

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Compare rates on different exchanges & swap.

Traders should use what works for them. I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.

deisik

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Quote from: Indamuck on March 30, 2019, 08:21:22 PM

Daytrading is essentially gambling the money is in long term holding

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

Indamuck

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Quote from: BitHodler on March 10, 2019, 11:51:01 AM

Quote from: sana54210 on March 10, 2019, 10:33:51 AM

Since, the investor already has an investment which can never turn zero no matter how deep the market is, it is better the investors wait for the bull run till his original investment comes out for him to withdraw and make amendment in whatever mistake he made that made him buy when market was BULLISH.

Waiting, that's what makes people lose a lot of money. I really noticed that we're dealing with more people that keep hodling their coins regardless of what the market is doing, but don't actually believe in the coin they invest in.

In this case you would expect them as an investor to take a loss and let the market bottom out, but nope, these brand new investors think a bull run is close every month which is what they prepare themselves for.

Overall, if we look at the weakest hands, they very likely have outperformed the majority of the investors/hodlers here. People here made fun of those who sold last year, but seriously, they did the right thing panic selling early on.

Holding is actually solid advice, history tends to repeat itself. You don't want to be trying to time the market, TIME IN THE MARKET BEATS TIMING THE MARKET.

Daytrading is essentially gambling the money is in long term holding.

samycoin

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Well all of in crypto have different story about their losing in trading and even investing but sometimes because of losing we've learned many things so we know what we do next time. And it's part of being trader and investor to lose sometimes the important thing is you learn to what happen.

Eildosa

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You're right. You very well described situation through which passes every newcomer. Thank you for this information. I hope that she can help many and prevent their mistakes.

Goodvalony

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i think that is an exactly mindset of a beginner in crypto trading. you must pass through that feeling and pains of concentration. it is not easy to maintain a top class with passing through different chapter.

BlueStackz

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Quote from: TheUltraElite on March 29, 2019, 10:23:24 AM

Quote

A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

There will always be honest traders who buy bitcoin for its future price and then sell at a good price and then buyback at lower price. They are the most sensible of all investors. Only thing that they need to sustain is the intervals between these transactions and the criticism that they face. Its tough to be one of such hodlers but its one of the safest and profitable ones out there other than leaving your money in the bank at give it a 6.5% boost every year. LMAO Grin

This automatically implies that everyone is a whale and indirectly saying whales are honest traders, lol. I said this because you did not breakdown the future, have you forgotten that future could be tomorrow too. So, if I come to pump money into the market now and I see a price that profits me tomorrow, I can as well as dump it and not be tagged as whale.

I am just kidding with but on a seriously note, I think we need to define the number of years an investor can leave their money before pulling it out to consider such investor as an honest traders because the activities of whales are not far from what you said, they buy at dip and sell at good price, the only different thing about them is that they manipulate this with large funds.

dunfida

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Quote from: deisik on March 29, 2019, 03:38:31 PM

Quote from: bitbunnny on March 29, 2019, 03:13:35 PM

Quote from: adzino on March 29, 2019, 02:47:17 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

Here is the root problem. People get inspired by reading other peoples story of success. I would say they actually get "excited" by reading other peoples success story. The stories they read makes them disillusion. They think that the traders got lucky over night and made some quick huge profit. Even though this is not the reality, the readers still jump into the market hoping they will get rich too. And this is exactly where those traders suffer the most.

I would support that. Based on stories of others people often think that trading is easy and making money with Bitcoin is easy. They don't know how much efforts, experiences, knowledge and risk taking stays behind that. Yes, some success stories could be good motivation and like for any other job for trading you also need some passion but in such cases people have difficulties to tell the real situation from some illusion

Such stories definitely have some ground and substance

In fact, making money with Bitcoin was pretty easy the whole time since the second half of 2015 and till the end of 2017 (which is over two years, just in case). You could simply buy a few bitcoins at any price back in the day and then wait patiently for your investment to double or triple (and if you were extremely patient you could even quadruple your starting capital). The hardest part was to curb your greed when it was the right time to call it a day. That's what these stories typically don't tell

Definitely agree on the thing you have said about the situation where making money with bitcoin was pretty easy into those years unlike now that volatility isnt really that much
which cant really give out chances on making profits.When it comes to money making stories and failures then most people would really have the same story for sure.

deisik

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Quote from: bitbunnny on March 29, 2019, 03:13:35 PM

Quote from: adzino on March 29, 2019, 02:47:17 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

Here is the root problem. People get inspired by reading other peoples story of success. I would say they actually get "excited" by reading other peoples success story. The stories they read makes them disillusion. They think that the traders got lucky over night and made some quick huge profit. Even though this is not the reality, the readers still jump into the market hoping they will get rich too. And this is exactly where those traders suffer the most.

I would support that. Based on stories of others people often think that trading is easy and making money with Bitcoin is easy. They don't know how much efforts, experiences, knowledge and risk taking stays behind that. Yes, some success stories could be good motivation and like for any other job for trading you also need some passion but in such cases people have difficulties to tell the real situation from some illusion

Such stories definitely have some ground and substance

In fact, making money with Bitcoin was pretty easy the whole time since the second half of 2015 and till the end of 2017 (which is over two years, just in case). You could simply buy a few bitcoins at any price back in the day and then wait patiently for your investment to double or triple (and if you were extremely patient you could even quadruple your starting capital). The hardest part was to curb your greed when it was the right time to call it a day. That's what these stories typically don't tell

bitbunnny

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Quote from: adzino on March 29, 2019, 02:47:17 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

Here is the root problem. People get inspired by reading other peoples story of success. I would say they actually get "excited" by reading other peoples success story. The stories they read makes them disillusion. They think that the traders got lucky over night and made some quick huge profit. Even though this is not the reality, the readers still jump into the market hoping they will get rich too. And this is exactly where those traders suffer the most.

I would support that. Based on stories of others people often think that trading is easy and making money with Bitcoin is easy. They don't know how much efforts, experiences, knowledge and risk taking stays behind that. Yes, some success stories could be good motivation and like for any other job for trading you also need some passion but in such cases people have difficulties to tell the real situation from some illusion.

adzino

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Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

Here is the root problem. People get inspired by reading other peoples story of success. I would say they actually get "excited" by reading other peoples success story. The stories they read makes them disillusion. They think that the traders got lucky over night and made some quick huge profit. Even though this is not the reality, the readers still jump into the market hoping they will get rich too. And this is exactly where those traders suffer the most.

deisik

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Quote from: BitHodler on February 21, 2019, 05:02:08 PM

Quote from: bitgolden on February 21, 2019, 04:06:17 PM

like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.

I understand the thrill of trading, but there is no such a thing as fun trading when you are risking your hard earned money. People thinking trading is a fun thing are mostly the ones who end up losing in the long run

I guess the point is here to not get married to your investment. Broadly speaking, it depends on your definition of "fun". For example, Linux was started "just for fun" but that didn't prevent it from turning into a major milestone in the operating system development and information technologies in general. So there is a grain of truth in approaching trading with a sane bit of superficiality since otherwise you wouldn't be able to deal with the losses which are inevitable on your way to success at this endeavor. And let's be honest here, many of us like the thrill of trading, especially if we have a backup income not related to this activity

Simply put, when you are penniwise, you'll never win the highest prize!

XCANA

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Quote from: doycku on March 24, 2019, 03:18:31 PM

Quote from: redsun114 on March 24, 2019, 12:22:12 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

It is actually the passion that has made man enter in to cryptocurrency. A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

I think that the time has already passed when cryptocurrency users madly chased profits and tried to earn a lot of money. It is time has passed, Because the possibilities have changed. But I understand that stress is very difficult for people who bought cryptocurrency at the end of 2017 to cope with.

If there where people still hodling those coins bought at the end of 2017 will be very few because in 2018; there where still an opportunity for those bought coins to yield profits if discretion was applied. I was a victim by this said circumstances and i overcame by trade, and at the end was able to get back my profits.

whirlcoin

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I agree we can only trust that will be not a good idea because the other job also important for a person to get the required income like to make his journey more easily otherwise it will be always difficult in the price of your investment was reduced.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: redsun114 on March 24, 2019, 12:22:12 PM

It is actually the passion that has made man enter in to cryptocurrency.

The biggest part of bagholders have entered in that manner. That includes the whales who are playing with crypto. You have to appreciate that they are also the reasons why the market capitalization is so huge.

Quote

A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

There will always be honest traders who buy bitcoin for its future price and then sell at a good price and then buyback at lower price. They are the most sensible of all investors. Only thing that they need to sustain is the intervals between these transactions and the criticism that they face. Its tough to be one of such hodlers but its one of the safest and profitable ones out there other than leaving your money in the bank at give it a 6.5% boost every year. LMAO Grin

Malsetid

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Quote from: doycku on March 24, 2019, 03:18:31 PM

Quote from: redsun114 on March 24, 2019, 12:22:12 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

It is actually the passion that has made man enter in to cryptocurrency. A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

I think that the time has already passed when cryptocurrency users madly chased profits and tried to earn a lot of money. It is time has passed, Because the possibilities have changed. But I understand that stress is very difficult for people who bought cryptocurrency at the end of 2017 to cope with.

The time has passed but it will come again. It's not passion or anything else that drives people here but money.. You probably will develop your passion once you've successfully made money already. Though it can be very tiring in the long run plus the string of losses you'll accumulate along the way. But if you're really after what it will be in the long run, then the interest will still be there.

doycku

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Quote from: redsun114 on March 24, 2019, 12:22:12 PM

Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

It is actually the passion that has made man enter in to cryptocurrency. A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

I think that the time has already passed when cryptocurrency users madly chased profits and tried to earn a lot of money. It is time has passed, Because the possibilities have changed. But I understand that stress is very difficult for people who bought cryptocurrency at the end of 2017 to cope with.

redsun114

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Quote from: CoinCollect on March 10, 2019, 12:47:03 PM

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

It is actually the passion that has made man enter in to cryptocurrency. A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

Topic: Keep proper distance but not losing passion - page 4. (Read 13447 times)