Topic: Newbie: If trading isn't working for you, buy and hold. - page 3. (Read 538 times)
Trading is risky,as a newbie, you need to study the market first before jumping into trading. Since you are a beginner,you will not make profit immediately, you have to make losses first. This will enable you learn from your mistake to become a good trader. Trading is not for everyone and if you are the type that is having losses all the time,this means that you need to stop and study more before trying again. There is a say that practice makes one perfect,if you don't get it at all,it is better that you quit trading if not you will end up been broke. Holding for long is the easiest way to make profit from your investment but people are just in a rush to get rich quick.
Buy and hold does sound like a simple and easy to implement trading strategy. However, in reality, this strategy requires great persistence and patience. A buy and hold strategy requires the trader to buy bitcoins and hold those bitcoins for a long period of time, usually for months or even years. The goal is to avoid short-term market fluctuations and allow the asset to grow over time.
However, this strategy requires persistence as the trader must be able to resist the temptation to sell bitcoins at times when the market experiences short-term fluctuations or significant price drops. And this is where many beginners always lose if they don't resist the temptation.
In conclusion, while the buy and hold strategy sounds easy, it requires persistence, patience and careful research in its execution.
However, this strategy requires persistence as the trader must be able to resist the temptation to sell bitcoins at times when the market experiences short-term fluctuations or significant price drops. And this is where many beginners always lose if they don't resist the temptation.
In conclusion, while the buy and hold strategy sounds easy, it requires persistence, patience and careful research in its execution.
Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin.
I think it's the opposite, those that I've talked to personally were all just newbies and one thing in common that they believe. And that's just to buy bitcoin and they all gonna be rich. That's the contrary of what you've said about someone has to trade and be profitable in trading bitcoin. I guess most of us has got that story when someone thinks that having bitcoin is already enough and holding it is the best strategy. That isn't wrong and that's actually what most of us are doing, these newbies weren't also wrong but they lack patience and being profitable by just holding and buying it are all correct.
But to understand of by buying and holding, we're not free from the risk.
For example: those that bought bitcoin at the beginning of this year January 2023 can relate to this, as those that bought around 17k-19k price can sell with profit right now as bitcoin price is currently around 28k within the end of the month of march.
Note: The end point is to making profit, so why not focus on the area that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.
Because if you invest in bitcoin and as you said, whoever bought it at the beginning of this year will have already received a profit, but if I bought 0.1 bitcoin, then I will always have 0.1 bitcoin in my wallet, and trading will give me the opportunity to increase the quantity of my satoshi. Note: The end point is to making profit, so why not focus on the area that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.
Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin. And this notion has driven many to scramble for resource materials that teaches on different trading strategies and patterns, yet they end making continuous losses upon losses after even passing through these trading classes and studying of trading materials.
In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.
Why bother yourself to be a skillful trader despite how it's not working out for you when you can be a good holder. Yes! you heard me right, a holder. Why not buy and hold patiently wait for a profitable rise in price from the actual price you bought at and sell at a good profit level. This doesn't demand strategic techniques or you to be a guru with years of experiences in trading, all it's required is "buy, hold patiently for price to rise profitably for you while you sell and wait for another opportunity to buy again and hold.
For example: those that bought bitcoin at the beginning of this year January 2023 can relate to this, as those that bought around 17k-19k price can sell with profit right now as bitcoin price is currently around 28k within the end of the month of march.
Note: The end point is to making profit, so why not focus on the area that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.
I think there is no problem or lacking of skills of a new trader, there is one specific behavior that is why trading is not working for a person that is patience, as a newbie we always to tend be in a hurry every time we see our friends getting ahead of us , we always thought " Oh I'm making a mistake, what am i doing wrong, I had to copy what he is doing", I have been there and i did loss patience, and realize it after all of my holdings sky rocket after i sold it, since my friends are making good profit, while my funds are in a coin that never moves its price, Patience is the number one you need when trading, we always have our turn to shine, so we must stick to our plans.In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.
Why bother yourself to be a skillful trader despite how it's not working out for you when you can be a good holder. Yes! you heard me right, a holder. Why not buy and hold patiently wait for a profitable rise in price from the actual price you bought at and sell at a good profit level. This doesn't demand strategic techniques or you to be a guru with years of experiences in trading, all it's required is "buy, hold patiently for price to rise profitably for you while you sell and wait for another opportunity to buy again and hold.
For example: those that bought bitcoin at the beginning of this year January 2023 can relate to this, as those that bought around 17k-19k price can sell with profit right now as bitcoin price is currently around 28k within the end of the month of march.
Note: The end point is to making profit, so why not focus on the area that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.
trading isn't for everyone so are the OGs that believed in BTC since the beginning. now they are enjoying. this still works for altcoins that can potentially moon. the longer you hold the better but selling in the ATH makes you profit more which you will still need to trade like selling during the bull run.
If we talk about a beginner who immediately dives into trading at the first stages of his journey into cryptocurrencies, then his second quality can be called greed. Life teaches such people other lessons. They lose, and if they don't learn from their first mistakes, they lose again.
Other beginners learn from the mistakes of the first, holding bitcoin and making a profit from it, as well as delving into all the intricacies of the risks that may await them. Such people can be successful. The most important indicator is time. There is a time to learn, a time to wait, and a time to reap the rewards of your patience. A good trader is a good psychologist, but it is a pity for those who consider themselves too confident.
Other beginners learn from the mistakes of the first, holding bitcoin and making a profit from it, as well as delving into all the intricacies of the risks that may await them. Such people can be successful. The most important indicator is time. There is a time to learn, a time to wait, and a time to reap the rewards of your patience. A good trader is a good psychologist, but it is a pity for those who consider themselves too confident.
Buy and hold sounds easy but it is not easy in reality. If it is actually easy, many people are millionaires or billionaires by buying and holding Bitcoin in the past since 2009 or even since 2017.
Life is not easy to buy and hold and if you don't have belief in Bitcoin, don't have good capital management, you can't hold.
Life is not easy to buy and hold and if you don't have belief in Bitcoin, don't have good capital management, you can't hold.
Hmm, I see "hold patiently" in your statement. Exactly—that's the key. Meanwhile, it's not easy to be patient in the crypto world since the pace is so fast. While patient people probably could be successful with this advice, many people jumped into the crypto world because they were attracted to the temptation of getting rich in one night. Besides, only those who aren't greedy could actually be satisfied with the profit they get (even if it's small); for those who are greedy, they want the biggest profit in the shortest time, which is sometimes unrealistic (although possible). If people want to get big profits from bitcoin, they need to hold it probably for 4 years (based on the history of the bitcoin halving that will bring us to the new bitcoin ATH).
I would formulate it the other way around: if you are a newbie, just buy and hold. It's the safest way to make money without headaches. Just try to trade after getting a lot of information, and even then think that 95% of traders lose money.
You have to think that trading is promoted a lot in advertising because it is what gives money to the houses in commissions. But what gives them commissions does not coincide with what is good for you.
You have to think that trading is promoted a lot in advertising because it is what gives money to the houses in commissions. But what gives them commissions does not coincide with what is good for you.
Indeed, there's no need to rush yourself in trading. You can be a holder as much as you want, and make good profits from it. However, if you can be a good holder and a good trader, then why not? Its undeniable that if you do well both in hodling and trading, you will earn tons of money which will be a life changing for you. That will be a great advantage on your part. Do not worry if you lose because it's certainly part of a training. As long as you aim to grow as a trader, losses should never upset you. Instead, it will mold you to be a better trader.
I found trading bitcoin is risky and it also puts extra pressure. Trading doesn't turn out well for everyone, you will have to put so much time into learning and practicing. Though traditional analysis and other technical analysis have not worked most of the time.
On the other hand, Investing is more risk-less and profitable too, obviously, you need to hold your bitcoin for a long time to see more profit of your investment.
On the other hand, Investing is more risk-less and profitable too, obviously, you need to hold your bitcoin for a long time to see more profit of your investment.
Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin. And this notion has driven many to scramble for resource materials that teaches on different trading strategies and patterns, yet they end making continuous losses upon losses after even passing through these trading classes and studying of trading materials.
Many newcomers have this orientation, and the main reason for them to jump into trading right away is that they believe cryptocurrency is a place for them to make it in a very short period of time, and this is why they continue to look for various trading signals and strategies just to make it on time so that people can see what they have made in a short time range, which is very wrong as a beginner in cryptocurrency.Quote
Why bother yourself to be a skillful trader despite how it's not working out for you when you can be a good holder. Yes! you heard me right, a holder. Why not buy and hold patiently wait for a profitable rise in price from the actual price you bought at and sell at a good profit level. This doesn't demand strategic techniques or you to be a guru with years of experiences in trading, all it's required is "buy, hold patiently for price to rise profitably for you while you sell and wait for another opportunity to buy again and hold.
Most times, they have the feeling that Holding is a waste of time, so why should they waste their time waiting for a long time before they can gain some profit when they can use their so-called trading strategies and techniques to make it in a short period of the?This mentality of trading using different signals and strategies will remain with newbies until they lose so much money before they can realize that Buying Bitcoin and Holding it for a long time is far better than trading for them as beginners pending till when they have adequate knowledge about Bitcoin and Trading in general.
I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.
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Not in most cases, cause you might end up having no fingers anymore as they have burnt to ashes before you know it. More so it's better to have a slow but gradual growing figures in your account than having a blown one. Mind you, you can only try again when you have money in the account and not with a blown up account as trades are not executed on empty account except you wanna go back to demo trading..
Well... The fact that newbies has little or no experience doesn't mean that they should stop trading. Sometimes, they need to test the waters to see how it works. They might get burnt, register some losses and can also learn from your experience and become a professional trader.
I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.
.
Not in most cases, cause you might end up having no fingers anymore as they have burnt to ashes before you know it. More so it's better to have a slow but gradual growing figures in your account than having a blown one. Mind you, you can only try again when you have money in the account and not with a blown up account as trades are not executed on empty account except you wanna go back to demo trading..
Ask the best traders, it wasn't rosy from the beginning. My point is, normalise the fact that losing in a trade is something you will mostly come across as a beginner, it shouldn't be frowned upon or discouraged entirely. Besides as a beginner, you should know your limits.
I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.
.
Not in most cases, cause you might end up having no fingers anymore as they have burnt to ashes before you know it. More so it's better to have a slow but gradual growing figures in your account than having a blown one. Mind you, you can only try again when you have money in the account and not with a blown up account as trades are not executed on empty account except you wanna go back to demo trading. .
Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin. And this notion has driven many to scramble for resource materials that teaches on different trading strategies and patterns, yet they end making continuous losses upon losses after even passing through these trading classes and studying of trading materials.
In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.
Literally, trading isn't meant for everyone to get involved, This is why it's good to first of all be able to identify which area is suitable for you in this crypto space and to focus your attention, either on trading or holding of Bitcoin, while there are some people that are good in both, they get involved with trading, while also HODL.In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.
So for me I find both interesting and I'm fully involved with the two, beacuse I have studied, understand and can navigate both trading and Holding profitably, And what I did is basically have to allocate about 70% of my portfolio for HODLing, while I use the rest 30% for day trading activities.
Note: The end point is to making profit, so why not focus on the area that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.
For some people the end is not just making profit but making large profits and holding alone doesn’t seems to quench there thirst for it. From your example someone that has actually bought $1K worth of bitcoin at 17k in January will have gain more than $600 profit now at current price of $28k, which is not a bad profit. But some traders actually gain, some gain at least 10% of that amount every week and that has worked for them.
Many people came into bitcoin with the narrative of getting rich quick and holding doesn’t guarantee that in a short period of time. Although holding is more secure but there’s nothing bad in trading if you have the fund to risk and also are ready to learn. But for others waiting for just signal from others without assurance of how accurate it could be then it is better to stick to holding
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Newbies always have different motivations when they start their crypto journey, although some are aware they could just be holders. Due to the idea that a lot of the short-term profit made in crypto is from day trading, that's why they chose crypto trading. It's not bad for a newbie to learn trading; at first, they will lose money because not all trades will be successful, but as a newbie, it's wise to always learn a good strategy and become more familiar with using the strategy if it's profitable. Some newbies can still become good at trading if they learn so well and also how to handle their financial management in the crypto market. The thing that challenges most newbies, however, is that they sometimes view trading as a game or gambling.
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