Topic: Need a little trading suggestion, please (Read 1027 times)

@ShadowBits: I am still getting my head around new coins. Too many of them. My portfolio is mostly BTC/ETH. And CEX gave me some BCH (which I wasn't expecting at all). The alt coins I dabbled with are Lite and DASH, got rid of both for the time being.

Sigh. Did a BIG blunder by going all-in and lost $300. Burned, and lesson duly learned. Never all-in, again.

@omonuyak: Thank you, of course I will keep at it - but I understand I can't always be right. Happy to learn

@MFahad: Yes, learning it the hard way now! I really need to *invest* and *hold*. Temptations and emotions are recipes for disaster, and I am playing with fire x(

@richkellj: Patience and holding is indeed the way to go - and I'd better imbibe it pronto. Thank you!

@Kevin77: I quite understand the meaning of that now. For instance, when I thought I made a good profit by selling what I had for $2900, had I waited about a week, it would have been a lot more. And from what I have been reading here on this forum, BTC is headed for $4k. Guess there's no better time to learn for someone like yours truly!

@webtricks: Thank you - yes, I am trying to make the most of the ETH surge now. Won't touch BTC.

@iram1011: Nicely put. I sure hope to invest more in BTC - price surge or no price surge.

@fearcoka: Wow, really can't see this coming down to $2k again. Can I get a time machine somewhere, please? #wishful

@ThunderCatSteve: Interesting - what's also challenging for me, is already converting my weaker currency (where I live) to a stronger one (USD/EUR) and then put that in BTC. I think I've done a 'decent' job, CEX's commission/fees and my own credit card's mark-ups (for FOREX purchases) notwithstanding.

@aardvark15: You nailed it - very hard indeed to gauge when BTC will drop. Not that it is easier in, say ETH, but at least alt coins like that are affordable and I can look to actively trade them.

Really hope to get some more BTC soon.

@charlescoin: Ahhh, yes, just that keeping track of flash crashes can be hard - timezones, damn them!

@setupbounds: Oh yes, one demo account I dabbled with was the one available on hitBTC. Any others that anyone else knows of? Thanks!

He should not boycott trading in order to become a veteran. Crypto trading requires practice and patience in order to get the skills of crypto trading. I believe that there are many ways of practicing trading before jumping into the ground for a real game. Demo accounts are the best options.

There is no way to simply buy low and sell high, all you can really do is try to take advantage of flash crashes as they nearly always correct themselves soon after. It's especially the case for mid to low volume coins.

If you sold all the Bitcoins you had, you might want to wait for either Bitcoin to take a big drop to buy back in or buy an altcoin like you were suggesting. I would stick with one of the major altcoins and make sure you are buying on a drop rather than a peak.

For Bitcoin it really gets difficult knowing when to buy back in because you can't tell how low the price will drop after it starts that direction. You could buy back in increments to help mitigate that difficulty.

Actually it is still low because if see the market that bitcoin is enlarging now a days then you will release that yes I'm true that I'm saying that it's still low so I would like to say that buy in a units that you will have more chances to twice your price because the fluctuation is going to increase which will make you better in every part so that's the game now a days.

Until november when the SegWit active complete 100% in system blockchain, the price of Bitcoin will have many volatility but I think the main trend only bullish, the ratio make Bitcoin comeback range price $2000 as few weeks ago is gone.

Altcoin market is decentralised which makes it unpredictable and uncertain. Only some experts and pump and dump group admin can make a considerable profit out of altcoin trading. For others, trading usually bring loss. Sometimes you can make a good profit out of it but not always.

Bitcoin is perfect in this sense. It gives good profit out of your invested amount and also is least risky. We always have seen growth in Bitcoin when it comes to long term. Bitcoin investment can provide many profitable entry and exit point. But Altcoins can't.

Lesser the currency has market cap, more it is prone to risk. So if you want to eliminate the element of risk, you should better stick to Bitcoin. But as Crypto is a world of volatility and uncertainty, it shouldn't be a bad move to switch to Ethereum and gain some additional profits. However, possibility of rise in BTC is currently seems to be more than Ethereum due to improvements in its ecosystem through forks in coming days.

Altcoins are good only for short term trading as we are seeing litecoins and dogecoins are trading with same level of BTC value. But there are good for trading for short term.

Instead of struggling with day trading and short-term trading, I always preferred to hold bitcoin as a long-term trading. It is highly profitable than any trading strategy. In my experience, bitcoin investors are making more money compared to bitcoin traders. There could be many exceptions but most of friends in trading are agreeing this.

Hi!

You might want to invest to other viable altcoins too. I have sent you PM. Hope you's find time reading it. Thanks!

That’s a wise decision. Indeed going for short term investments in order to enjoy big profits is very dangerous.
In this case, you are putting your money at risk. To make big and grand profit with bitcoins, you really need to invest for long time. Patience is needed to work profit with investments.

You have sold your bitcoins, but i am happy, you sold in a good price $2900.
But in trading, if you afford to hold the coins long time, then better to hold them for a long time, than sure you will make profit from your holding coins.
But you are still new in trading, and in trading you will learn in your experience behalf, before now our suggestions not work.   

Buying low and sell high is the rule of this game. Op what you have done is the right thing and that is why you see  the right results. I will advise you to keep practicing this many times until you became perfect in it and you will be name among professionals.  We should not follow  the hand secking one but trade as if we are in control.

Steady volume x volatility with a lookout for traps. avoid shitcoins and newly added stuff as much as possible but sometimes trade the less useful or gimmicky coins because they have a nice bouncing pattern , be pretty conservative with your buy and sell positions and prepared to watch it plummet. Big risk, big reward can also mean big losses. And NEVER go all in.

@Rahar02: True - and I'm discovering how different it is once one takes the dive. Also - (something I had posted in another thread) - I had dabbled with bitcoins long ago, without being serious at all and lost all the precious little I had earned. So, that kept me OFF all this till recently when I decided to take a sincere plunge.

@albert11: Yes, my plan is to go for 1BTC, but given a little fund shortage, I have gone for a little over 0.5. But yes, I hope to get the other half in the next four weeks. Thanks for the suggestion on splitting them into the longer and shorter terms. Totally worth looking in to with the amount I'll end up investing!

@Herbert2020: Thank you for that note - "don't get emotional" is my key takeaway, and its *so* true - faced it in the few minutes when I was wondering whether or not to sell off stuff at a certain price point! Altcoins - only dabbled with a couple, but yes, will keep myself up to date with the ones out there.

@metenjean: I'd of course prefer the investor route, but the odd trading wouldn't hurt (plus, I have this whacky 'phobia' - relating to handling money, mostly investment - that I'm hell bent on overcoming). And that's a pearl comment. Stealing it! )

@Idrisu: Ha ha, oh yes, that's the simplest way to put it! Come to think, need to put my learning from all those trading games I'd played as a kid to good use!

@ShadowBits: Darn... Agree such 'burns' can be scarring. Went through something similar, but perhaps not to an extent you've just described. Point taken, though. Short term, big profits may not be the wisest in some cases.

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I'm so grateful to each and every one who has replied. Sincere thanks, folks. Would love to hear more views/insights Be well!

I lost a lot to crypto when was a beginner.
Lesson well learnt
I don't go in for big profits in short term
It's very dangerous

You should not spend time times study junk material prepared by the said expect in crytocurrency trading but follow this simple method you just use to make some profit and your wallet will be fill with coins. Buying low and sell high on any coins is the master key to succeed in crytocurrency be it bitcoin, Ethereum and litecoin.

IMO you need to identify what kind of trading plan you want, are u an investor or a trader?
If you love to hold a long term investment, doesnt want to have much time glued to your screen, and got actual jobs that you do for living, then you can go for investor type.
However if you love to see the chart, trying to pick a top and bottom of every daily candle, then i suggest you become a trader.

When you decide what trading plan you love, you can start building towards your money management. I've seen both investor and trader make lots of money, and we really can't compare if you're talking about which one is better. Just like the old proverbs says,
"Bulls Make Money, Bears Make Money but only Pigs Get Slaughtered" 

if you want to start trading you need to decide on 1 thing: what do you want to hold your profit in?
most people keep their profit in bitcoin. this means for example you start with 1BTC, price goes up you sell, then it takes a dip you buy back and now you hold 1.1BTC and repeat this. and the same with altcoins. you buy an altcoin it goes up you dump it and take your bitcoin out, once more you hold more bitcoin now.
it is the strategy because bitcoin also rises in long term. that means the more of it you hold, the bigger your long term profit will be.

the next thing you need to do is to learn how to be very active and fast in the market. specially in altcoins. it is very important to make up your decisions first then invest. for example you buy some altcoin in its dip then it rises you need to have a target to sell before you even invest. and make sure to sell at that point. don't get emotional and don't listen to others. sell and get out fast and move on to the next thing as fast as you can to make profit elsewhere. they won't wait for you to come then go up.

if you have money to buy 1 BTC Go for holdings experts in crypto currency says. its posible to get up to 10,000$ price of BTC in the next 3 to 5 year's. But I know its hard to keep holding because there's a time bitcoins go higher and you not sell cause your plan is tovget doubled or tripled your money invest. So if you have enough money to buy bulk of BTC . I suggest you to set a plan the half of your BTC will be on holding (Long Term) and the another half  In Shorterm So you will be not worried if bitcoins go higher and higher.