The reason of why Bitcoin is good for trading (for me)

Kelward

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Quote from: noorman0 on May 16, 2023, 11:05:00 AM

Quote from: macson on May 16, 2023, 10:16:13 AM

even though the way you do it sounds like gambling,

There's no indication of gambling, the OP isn't really going to lose the portfolio. The loss may only be limited to the time delayed to execute a commensurately profitable order, but it is definitely profitable in terms of value and does not have much of a psychological effect.
However this is still included in the category of trading although it is not as complicated as the way traders in general.

Truly there's less risk involved in the OP's method to really compere it with gambling, because it can be somewhat compared to investing, because he holds the bitcoin, and waits for the perfect time when it's profitable to pair it with USDT. Although I still think that there is need for him to learn about the fundamental and technical analysis of trading, this can be helpful if perhaps he gets the interest in the future to take a step further into real trading.

Jonyshake71

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As Bitcoin is the coin for long term investment, so it can be most suitable for trading and holding too... Besides it has many facilities, for an example, when start trading with others centralized altcoin, that could be manipulation and can be controlled by team whom have holding huge supply of that altcoin. Even can be down to zero. But there's no such possiblity while you are trading with btc. Even you can hold for long time and there is surety that, it'll recover

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Quote from: Traderbtcc on October 20, 2023, 11:29:48 AM

Quote from: Plaguedeath on May 16, 2023, 04:44:58 AM

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here? Cheesy

Buying high and selling low isn't necessarily a bad thing. It's more like an investment strategy where you buy and hold until the price goes up. Since you're trading only BTC/USDT, it's less risky. It's best to stick to that pair because adding altcoins can expose you to more losses. I think you should explore trading a bit more and learn the basics. You'll do great! 📈💪

What do you mean by buying high and selling low is not a bad thing? Think again. If you bring bitcoin to a certain price and it suddenly goes down, what do you think will happen to your bitcoin? Of course, the price decreases. In the same scenario, if you enter into a trade in bitcoin and the price goes down, your equity decreases. Equity means the amount of money you deposit and the margin. If the equity goes to zero, then you will lose all your capital in trading, so buying high and selling low will never be a good thing. But I do agree with you about not doing altcoins during a trade with bitcoin, as it will also partition your equity. If you have limited equity, then trade only one pair, and as long as it is open, don't engage in another trade.

As per the OP's strategy in trading, maybe you are beneficial in what you are doing without proper knowledge, charting skills, or whatsoever skills needed to trade and only relying on instinct and emotion. Then, a piece of advice that is too risky is one wrong move, and it could cost all your capital, so don't be content with that.

ItsCrafty

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Bitcoin is the coin which will give you happiness always specially when you buy at a low price and sell at a high price but in my opinion about bitcoin is that if a person has extra money he should invest in bitcoin buy the bitcoin in parts because every year bitcoin change his price circle whenever bitcoin found in low price just buy it no need to get knowledge no need to trading expert signal just follow the same strategy you will be success

Ben Barubal

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Quote from: Plaguedeath on May 16, 2023, 04:44:58 AM

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here? Cheesy

In the first place, you know that you are not really a true trader because you have no idea or knowledge of the basic things about trading that are called, and neither of you know anything about the indicators that are also used in trading; at least you admit it.

Therefore, in your current situation, it is clear that you are not really a trader in the Bitcoin industry. Instead, you are a long-term investor in Bitcoin, because if you are a trader, you should somehow be doing short-term trading activity so that you have the opportunity to learn the basics of trading, such as the use of tool indicators here also doing technical and fundamental analysis as well.

Marvelman

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Quote from: Justin999 on November 25, 2023, 03:18:01 PM

You are doing DCA, which is short-term strategy which help traders to Dollar cost averaging, lower the amount you use to pay for investments as well as it having minimum risk.
/.../

If you're referring to the OP, I don't think it's exactly a DCA strategy. Yes, there are many people who trade Bitcoin using a similar approach to his. But, this is often referred to as "buy and hold" investing. The idea is that Bitcoin is a long-term investment, and that it is more likely to go up in value over time than it is to go down to zero.

Justin999

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You are doing DCA, which is short-term strategy which help traders to Dollar cost averaging, lower the amount you use to pay for investments as well as it having minimum risk. Now Bitcoin market is good and keep improving with time. And then market will go up, everything will be profitable but during market, that become hard. But without any trading idea, such steps are increasing risk to your money. It okey to keep learning while practicing but need to be aware of how to avoid maximum risk

doomloop

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Quote from: eXtremal on November 17, 2023, 04:30:55 AM

Correct. Bitcoin may produce less profit but it is actually very good at reducing the real risk of risky trading. I'm sure with your patience you might be someone who can be successful in trading as long as you don't rush into it because many people fail because they rush to become rich.

I think that all coins has their own bad or down times but BTC an be able survive longer than them, so even if we say we can earn less in BTC, at least it is going to be consistent. And if we calculate that all, our profit will still be greater than those coins whom we think can give us a better return.

Another good thing is like you said, it can reduce our risks. The OP might have a long patience but that wasn't enough in order to be successful in trading, although he admit that he wasn't a real trader, which is true, based on how he act. He only looks like a semi-trader and then an investor at the same time. I think those who rush are not always wanting to get rich, but they only like to earn some profits. Once they get it, I guess we can still say that they are successful.

Out of mind

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Quote from: Plaguedeath on May 16, 2023, 04:44:58 AM

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here? Cheesy

If you don't have that much experience in trading then I think you won't be able to profit, however you must have gained some knowledge about the market. But I like your move because Bitcoin trading will be profitable without ever fear of losing money. USDT is a stable currency which will not give you profit, but if you buy Bitcoin it will surely give you profit. But bitcoin can give you enough profit, and we know that bitcoin will never collapse like altcoin. Rather, if the price falls after buying Bitcoin, it prepares to go higher later on, which helps a person make a profit. That's why Bitcoin is the best investment and trading, so I think it's best to invest and hold. There is no need to lose patience when buying Bitcoin if its value goes down because it will be ATH again and again. As I'm not that knowledgeable about trading and don't trade like that, rather buy and hold bitcoins I want to hold until the bitcoin market is ATH. So I like investing and holding more than trading, and I like your point very much.

Bushdark

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Quote from: cute nmp on November 17, 2023, 04:47:44 PM

I am also a huge fan of trading Btc cause it is much more easier to trade than many other altcoins, it has a very good structure from both its higher timeframe going down to the lower timeframes making it it simpler and easy to trade. One other advantage is that it has more liquidity than any other trading pair in the crypto-market.

You mean you like trading Bitcoin? Maybe what you really means is normal P2P trading not the future trading. Future traders are one of the high risk takers because the future market is all about predicting on what will happen in the future whether Bitcoin price would high or Lower. Severe loses can be attracted in this kind of trading that is why those that are not skilled are not allowed or advised to go into future trading. The risk and loses can be more severe of the market price become too volatile.

cute nmp

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I am also a huge fan of trading Btc cause it is much more easier to trade than many other altcoins, it has a very good structure from both its higher timeframe going down to the lower timeframes making it it simpler and easy to trade. One other advantage is that it has more liquidity than any other trading pair in the crypto-market.

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Quote from: Bitcoin_people on November 17, 2023, 09:46:30 AM

Almost everyone starts trading with the intention of making a small profit so that he accumulates a daily income. But I think it is wise for you to trade this Bitcoin, because it is very low risk and there is no chance of losing money.

They won't lose bitcoin if it's a spot trade, but they could lose value due to its price volatility. On the other hand, traders will lose everything if they choose futures trading, because the risk of liquidation due to price volatility is very high. Of course they can minimize the risk by setting a lower leverage, but the risk of liquidation is still there due to changes in trends or something like that.

In my opinion, trading bitcoin on a low budget is very illiquid. This is not just an assumption but a fact because of the high value of Bitcoin. I wouldn't trade bitcoin if my budget was only $100 - $500, but altcoins tend to make more sense. For bitcoin, long-term investment is a good plan to have.

Lorence.xD

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Quote from: eXtremal on November 17, 2023, 04:30:55 AM

Correct. Bitcoin may produce less profit but it is actually very good at reducing the real risk of risky trading. I'm sure with your patience you might be someone who can be successful in trading as long as you don't rush into it because many people fail because they rush to become rich.

Profit is profit, if you are consistent enough and disciplined you could even consider that less profit from Bitcoin to be huge. If you rush your way in the crypto industry, for sure you won't even survive long in here. It will just make you pressured as you are too focused on your goal which is to be rich, than learning in the process and every mistake to be part of your development journey in trading. Just think of the persons that has been trading for years or decades, some of them are already successful but mostly for sure are still in the progress of becoming rich. You cant rush something that you understand, that's why we can observed that from learning courses would literally need to be years, which I think is applicable to trading, invest with yourself first with knowledge.

bayu7adi

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It's more about your confidence when accumulating BTC assets, even when the price drops, you don't rush to make decisions. It's almost similar to my approach, but all my decisions come from the amount of money I have. If there's extra cash, I buy Bitcoin...if not, I don't. And I haven't sold it until now.

I have a target, maybe until it reaches the equivalent of 0.1 BTC, and I'm waiting for the next ATH before considering selling. This is still in the experimental stage, so I can't guarantee if it will work or not because my emotions easily get influenced when the BTC price rises by just 10% or 15%... I tend to be too eager to sell

Bitcoin_people

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Almost everyone starts trading with the intention of making a small profit so that he accumulates a daily income. But I think it is wise for you to trade this Bitcoin, because it is very low risk and there is no chance of losing money. If you trade in altcoins other than Bitcoin, I think it's always risky and there's always the fear of losing money. I have also traded many times and lost money but if I had traded it in bitcoin I might not have lost money but I mistakenly traded altcoin and lost. Moreover, there is no need to worry about trading in Bitcoin as we all know that once it falls, it will rise again and its price will increase. But when an altcoin dumps from highs to lows, it has very little chance of going up. That's why I think Bitcoin is a good coin to invest and trade that will pay and secure a person.

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Quote from: Plaguedeath on May 16, 2023, 04:44:58 AM

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here? Cheesy

I mean, it's not really an instinct not to sell your bitcoin hodling when its price is going on the opposite way you wanted it to, it's a natural response when you don't want to lose anything, so you'll wait for the next all time high price. And I don't think that not following any basic fundamentals in trading will bring you to a level that you make a lot of profits in trading, especially in futures trading.

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Quote from: eXtremal on November 17, 2023, 04:30:55 AM

Correct. Bitcoin may produce less profit but it is actually very good at reducing the real risk of risky trading. I'm sure with your patience you might be someone who can be successful in trading as long as you don't rush into it because many people fail because they rush to become rich.

So what about people who trade every day to make a profit? I don't think they're in a rush, although I'm sure trading isn't their main source of income. but some traders do day trading for some profit. they are not people who rush, but they do it with their skills and experience when trading.
people in a rush to get rich should know that Bitcoin will not provide that. they should look at how the price of Bitcoin has grown throughout history. so they will know how they can profit from Bitcoin trading.

eXtremal

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Correct. Bitcoin may produce less profit but it is actually very good at reducing the real risk of risky trading. I'm sure with your patience you might be someone who can be successful in trading as long as you don't rush into it because many people fail because they rush to become rich.

doomloop

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Quote from: Mehedi72 on November 15, 2023, 08:23:06 AM

Quote from: Plaguedeath

for me margin trading or leverage trading are for making quick profit and high risk, I feel more comfortable in spot trading.

for beginner, it's good to go with spot trading which is safer option than others trading while doing future trading by taking high leverage with risk which could be reason lose the portfolio due to making one single mistake. So good to practice spot and better to be comfortable with it

Most beginners misunderstand the whole concepts, they don't know the risks involved with futures trading and they have only seen profit screenshots from YouTube channels or in social media groups where people most screenshots of their profits and don't do the same with their losses, which makes newbies think that there is a lot of profit in this and they should do it as well, but they don't know the actual reality which is that one with enough knowledge and experience can achieve that and not without any knowledge or experience.

So, what they do is simply take their capital, watch a tutorial about how they can start and start trading in futures market without learning or anything, and they also join signal groups so that they can get signals and use those signals to make trades which is another mistake because those groups are created only to earn money for their creators as they charge money for joining.

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Quote from: Plaguedeath on May 16, 2023, 04:44:58 AM

Is there anyone like me here? Cheesy

All you are saying is that you are trading on a luck basis and I just concluding that your lunch is too good. This is not actual trading according to me because trading involves long research about market volatility, knowing about the signals, and studying the candles, but you just buy and leave it for some time and then sell it at a profit and I am telling you that it is your luck through which you are still did holding, investing in Bitcoin when it is in the dump, and then selling it when it is on pumping. Holding is also working the same buying at the dump holding it for some time and then selling it when its price is high. As you mentioned you did not care about the signals and candles and you are new to trading, so holding is best for you, keep it and don't go to another strategy until and unless you make yourself an expert in trading.

Topic: The reason of why Bitcoin is good for trading (for me) (Read 1429 times)