Question for bitcoin traders !!! - page 3.

breathlessz

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Quote from: Maslate on July 07, 2021, 07:21:59 AM

Quote from: davis196 on July 07, 2021, 06:27:28 AM

The current Bitcoin price fluctuates between 31K and 35K USD.I wouldn't call this a big fluctuation.Actually,the Bitcoin market is pretty calm right now.Only the total newbies would freak out,when the Bitcoin price drops by 5-10%. A real trader has a plan or a strategy.A newbie trader simply follows trends and gets surprised every time,when the trend shifts to an unexpected direction.
A real trader cannot be overwhelmed by price fluctuations.The problem is that almost all cryptocurrency traders aren't real traders.They are just amateurs and wannabe traders,who are pretending to be professional traders.

But I don't think would like to pretend because their action and market decisions will picture them out who really they are in real life.
It is quite to say that newbies often claim that they are losing while pro-trader just keep calm and finding a way to recover their losses instead of blaming the market but themselves. But maybe they don't have to shout it out because of their experience and they are aware of what possible things to happen with them.

there is nothing wrong with the market, we will always study with the market, and usually pro traders, always calm in any situation, I think for them profit or loss is something that is common in trading, so there is no need to be expressive in describing the final result. I hope in the future I will be able to be like them, because it also affects our attitude in the real world

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Quote from: davis196 on July 07, 2021, 06:27:28 AM

The current Bitcoin price fluctuates between 31K and 35K USD.I wouldn't call this a big fluctuation.Actually,the Bitcoin market is pretty calm right now.Only the total newbies would freak out,when the Bitcoin price drops by 5-10%. A real trader has a plan or a strategy.A newbie trader simply follows trends and gets surprised every time,when the trend shifts to an unexpected direction.
A real trader cannot be overwhelmed by price fluctuations.The problem is that almost all cryptocurrency traders aren't real traders.They are just amateurs and wannabe traders,who are pretending to be professional traders.

But I don't think would like to pretend because their action and market decisions will picture them out who really they are in real life.
It is quite to say that newbies often claim that they are losing while pro-trader just keep calm and finding a way to recover their losses instead of blaming the market but themselves. But maybe they don't have to shout it out because of their experience and they are aware of what possible things to happen with them.

davis196

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The current Bitcoin price fluctuates between 31K and 35K USD.I wouldn't call this a big fluctuation.Actually,the Bitcoin market is pretty calm right now.Only the total newbies would freak out,when the Bitcoin price drops by 5-10%. A real trader has a plan or a strategy.A newbie trader simply follows trends and gets surprised every time,when the trend shifts to an unexpected direction.
A real trader cannot be overwhelmed by price fluctuations.The problem is that almost all cryptocurrency traders aren't real traders.They are just amateurs and wannabe traders,who are pretending to be professional traders.

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Quote from: Sled on July 07, 2021, 03:08:11 AM

Quote from: ?? on ??

Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

Always have your plan and strategies because in trading, we should prepare for anything especially the price of Bitcoin is very volatile.
Having a negative thoughts about the market or negative emotion is not good and that only means you are not well prepared the moment you invest. We can't always win here in the market, there are times that we need to deal with losses but if you do the right thing, profit will come to you.

One way to combat negative thoughts is to make ourselves busy with the other stuff. The more we are checking and monitoring the market, the more we are getting affected and humiliated by the downtrend. People get mad and frustrated with the market but we also have to understand that not all the time we are bullish and profiting, sometimes we lose.

I agree with @Sled said that making ourselves busy will make us not thinking about the fluctuating market.
But before we do that, maybe we can set an alarm that will sound if the price reaches the price we want to come back to the market and do our plan.
I am sure almost all of us have a frustrating experience seeing the market volatility but we already learned that we need to calm down to see the chance.
If we can do the other thing, we do not have to feel like that because we have another plan if the market moves differently than our prediction.

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Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

Always have your plan and strategies because in trading, we should prepare for anything especially the price of Bitcoin is very volatile.
Having a negative thoughts about the market or negative emotion is not good and that only means you are not well prepared the moment you invest. We can't always win here in the market, there are times that we need to deal with losses but if you do the right thing, profit will come to you.

One way to combat negative thoughts is to make ourselves busy with the other stuff. The more we are checking and monitoring the market, the more we are getting affected and humiliated by the downtrend. People get mad and frustrated with the market but we also have to understand that not all the time we are bullish and profiting, sometimes we lose.

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Quote from: carlfebz2 on July 06, 2021, 01:14:13 PM

Quote from: Lakai01 on July 06, 2021, 09:22:31 AM

Quote from: iv4n on July 06, 2021, 06:04:19 AM

-snip-
It would be nice if you can add more money from time to time (when some dip comes)!

There is actually a fairly simple solution for this: DCA.

You always buy the coin of your choice at fixed times (e.g. every Monday) for a fixed amount (e.g. 50$). So neither short-term nor long-term fluctuations matter to you, sometimes you get more coins for the same amount, sometimes less. You will never catch the bottom, but most likely you will not buy at the top in full FOMO.

If your budget is just really enough for that amount then you can definitely take control of yourself because if not then its hard to maintain a certain amount specially if you do saw that the value is really cheap

or shall we say you can earn more tokens because it is on potential bottom or we can simply say that you are seeing opportunity this is why fixed terms is really hard to follow and does depend on strict self control.

Actually i had done this but your emotion will really be a big factor and this is why proper planning of funds will really matter on this situation.

strict fund planning and selection of trading pairs will determine a success. but for me it would be wise if we trade on several pairs, thus reducing the risk. risk must also be calculated before making a transaction, so that we have an idea if we are wrong in analyzing, because not every transaction will go according to plan

carlfebz2

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Quote from: Lakai01 on July 06, 2021, 09:22:31 AM

Quote from: iv4n on July 06, 2021, 06:04:19 AM

-snip-
It would be nice if you can add more money from time to time (when some dip comes)!

There is actually a fairly simple solution for this: DCA.

You always buy the coin of your choice at fixed times (e.g. every Monday) for a fixed amount (e.g. 50$). So neither short-term nor long-term fluctuations matter to you, sometimes you get more coins for the same amount, sometimes less. You will never catch the bottom, but most likely you will not buy at the top in full FOMO.

If your budget is just really enough for that amount then you can definitely take control of yourself because if not then its hard to maintain a certain amount specially if you do saw that the value is really cheap

or shall we say you can earn more tokens because it is on potential bottom or we can simply say that you are seeing opportunity this is why fixed terms is really hard to follow and does depend on strict self control.

Actually i had done this but your emotion will really be a big factor and this is why proper planning of funds will really matter on this situation.

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Why do something about it? I think that all veterans of this forum understand that bitcoin has the properties of both growing and falling, and falling quite deeply.
To buy bitcoin and get upset after the price has not gone up is rather stupid and naive, because it cannot and will not grow constantly, these are cycles of growth and decline.
There has not yet been any growth without correction, then what's the point of worrying? You can only worry if you bought it at the peak points of growth, then you fell for FOMO.

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Quote from: skarais on July 05, 2021, 02:27:49 PM

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way". This is a quote that I think can inspire us as people who spend almost all of their time trying to make as much money as possible by trading or other jobs else online or offline. The above quote is from the famous actor Chow-yun-fat that I found online.

We know that the price of bitcoin is never stable and very volatile. When we are involved in the market and have invested most of the money, it is almost impossible for us to just leave it without paying attention to the price on a regular basis. Bitcoin price fluctuation affect trader more or less psychologically, so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

Usually, in my experience, people who give out quotes like that have a lot of money. Which keeps them calm and collected of course! I mean, if you've never struggled or worried about rent or had no parents to ask money for, easy to be calm;)

But yes, of course the point still stands. People always underestimate crypto even with long cycles of history to show them how volatile and cruel it can be. Enter at your own risk. And risk what you can afford to lose.

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Quote from: iv4n on July 06, 2021, 06:04:19 AM

-snip-
It would be nice if you can add more money from time to time (when some dip comes)!

There is actually a fairly simple solution for this: DCA.

You always buy the coin of your choice at fixed times (e.g. every Monday) for a fixed amount (e.g. 50$). So neither short-term nor long-term fluctuations matter to you, sometimes you get more coins for the same amount, sometimes less. You will never catch the bottom, but most likely you will not buy at the top in full FOMO.

Questat

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Quote from: skarais on July 05, 2021, 02:27:49 PM

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way".

I definitely have to agree with you. It is a matter of how we manage ourselves in the situation where our emotions have been tested and badly affected, somewhat like in the bear season. It is really hard to be perfect (nor that was possible), some circumstances are we mostly bothered by our emotions, fears, and anxiety. We often become negative when experience losses and regrets, and sometimes be positive when we gain profit.
And why these all things happen because we live as human beings, not a robot.

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I like that quote and I agree with that. That is a psychological factor that makes us watch the price moves, which is happening to many people. But in this matter, we can learn how to manage that factor and calm down to see the volatility of bitcoin prices. Every investment has a target goal that we can achieve but if we do not have a goal to sell bitcoin, we will not make a profit. The bitcoin amount we have will still be in the bitcoin form, but you can make a profit and enjoy your profit if you have a target price to sell.

I will not always check the price but I will do periodically and if I see the price is good and I am okay with the profit that I will get, I will sell it and not trying to wait for more because there is no guarantee the price can still increase. If we can manage ourselves in trading or investment, we can feel satisfied with the profit.

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Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

We have seen more than 80-85% crash or downward trend in bitcoin prices so these 40-50% price fluctuations you are referring to don't even bother long term holder and they know this time it will grow even more with great surge so just waiting for that time to hit the market exactly.Just watch the charts and you will see we have seen $1200 prices to falling to $86 in 2013 and still we are at $34k now so thinking this if your mind feel burden or pressure then you should sell btc and leave the market because this is not for the faint hearted people and who holds will enjoy in future.

Wexnident

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Just don't look at the market, I fully trust Bitcoin would bring me profits, just not in the immediate long term. I guess that's why I'm more content with peeking at the market every now and then only instead of back when I was new, where I was looking at it every day. Switching from trying to do day trading to long-term investment made me get a huge breather and let out that huge source of stress that I always get. As for investments, well I DCA every month so it doesn't really hit me that badly. It's rather light on the load even tbh.

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Quote from: Lakai01 on July 05, 2021, 10:39:13 PM

Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

It's actually pretty simple: be convinced that the ATH will be reached again in the next 4 years and stack sats until then.

You can only have a problem with the high price decline if you have invested more money in BTC than you are willing to lose. Mentally, you have to write off the money as soon as you have bought BTC (or any other investment), otherwise you constantly calculate the losses/gains and lose sight of the big goal: to be one of those who can call at least a larger fraction of a whole BTC their own.

It is simple, if someone believes in new ATH, stacking sats until that day comes sounds like a good plan! The problem appears when some people wish to stack more and more (greediness) and they look for risky actions that can bring more sats! It can be day trading or investing in the new projects...
For long-term investors, looking at charts daily, and as you say Lakai01, calculating the lose/gain ratio can be a real headache... you will be in a constant dilemma about what to do, should you buy/sell/short/scalp... while the easiest thing should be investing and forgetting about your investment for a longer period! It would be nice if you can add more money from time to time (when some dip comes)!

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Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

It's actually pretty simple: be convinced that the ATH will be reached again in the next 4 years and stack sats until then.

You can only have a problem with the high price decline if you have invested more money in BTC than you are willing to lose. Mentally, you have to write off the money as soon as you have bought BTC (or any other investment), otherwise you constantly calculate the losses/gains and lose sight of the big goal: to be one of those who can call at least a larger fraction of a whole BTC their own.

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Quote from: skarais on July 05, 2021, 02:27:49 PM

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

One of the best answers here is the famous quote "Invest what you can afford to lose"
To be honest, if you use the money that you can afford to lose and buy it Bitcoin or other cryptocurrencies, you can sleep at night without worrying about something.
The same application with trading too, you should know how RISKY trading is, that's why a lot of new in trading are ended up getting rekt and quitting very early.

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Quote from: skarais on July 05, 2021, 02:27:49 PM

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way". This is a quote that I think can inspire us as people who spend almost all of their time trying to make as much money as possible by trading or other jobs else online or offline. The above quote is from the famous actor Chow-yun-fat that I found online.

We know that the price of bitcoin is never stable and very volatile. When we are involved in the market and have invested most of the money, it is almost impossible for us to just leave it without paying attention to the price on a regular basis. Bitcoin price fluctuation affect trader more or less psychologically, so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

Bitcoin is much bigger now. Price movement is a little slow. If we just know how to read charts, we can say that Bitcoin will go down and we need to hedge our investments in stable coins like USDT. Then we must be happy when Bitcoin is making consolidation because we can buy it again from a lower price.

They key here is to learn what we are doing. If we want to invest in Bitcoin , it is essential to know how trading works. If we want to have a restaurant business, it is wise to learn how to cook so matter what happened if you cooking staffs are not available, the business will go on.

Cherylstar86

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Indeed bitcoin price falls at worst, but it did make learn more ways to battle emotions specially in times of failures. Though we badly needed money for our daily needs, and yet sacrificed all important expenses like celebrations and other enjoyable stuff in life. Our motivations kept us more eager to pursue every dreams for the future of bitcoin and other altcoins who've been part of our journey as a trader.

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You just get used to it and don't be too worried about it because even if it plummets, time for it will come and it shall recover. Just like the quote that you've shared from Chow Yun Fat that you need to calm your mind. It's the first thing that you need to do if you do not want to think of bitcoin's fluctuation. Because it's already there and won't be gone so instead, we're the ones to adjust and we shouldn't think of it from time to time. You just check the price if you've been in profit and how much it is then you're good again to think of the other important things that you have to do.

Topic: Question for bitcoin traders !!! - page 3. (Read 513 times)