Topic: The reason of why Bitcoin is good for trading (for me) - page 3. (Read 1500 times)
Dollar Cost Avaraging! May profitable for some fields but buy sell doing trade staking and all those things need to know properly before starting. It is always mandatory to have knowledge about market, how it market get effected during good news and bad news, using of indicates, understanding candlesticks and all those things are very need. Otherwise some process may give you temporary benefits but when market will show you its cruel face and you don’t know how to face it, that time You'll realize the meaning of trading, meaning of life
Start trading without having proper knowledge, will make you looser most of the time. After reading your post, it sounds like you are more than a bitcoin holder than a trader, who open trading randomly when willing so without following any instructions or strategies. As bitcoin is safe investment, so you don't care if price go down cause you can wait 1 or 2 years till bull run come and recover everything! That isn’t sound wise to me. Rather learn about trade and looking for all possible currency what could make you profitable
I guess what OP does is Spot Trading. That type of trading is very friendly to those who are begging traders because what he has said, he won't lose any money unless he sells his position in negative.
There is nothing wrong with that. In fact, there is an advantage of using real money trading because you will realize sooner the pressure of trading especially on the side of psychology where most people mess things up.
Also, there is nothing wrong with being a holder. That is the consequence of having the wrong analysis and that is a normal part of the game. What works for him does works for him and made his money and that's what matter.
Start trading without having proper knowledge, will make you looser most of the time. After reading your post, it sounds like you are more than a bitcoin holder than a trader, who open trading randomly when willing so without following any instructions or strategies. As bitcoin is safe investment, so you don't care if price go down cause you can wait 1 or 2 years till bull run come and recover everything! That isn’t sound wise to me. Rather learn about trade and looking for all possible currency what could make you profitable
I was like this last year. I didn't learn basic analyzes for crypto trading. I just entered and waited for the right market moment with instinct at that time. And I also do it only in BTC and ETH.
But recently or this year I started taking things seriously. There is an acquaintance who motivated and inspired me to learn more like himself who has become a reliable trader. But now I realize that learning crypto trading is not as easy as it seems.
It's definitely not easy, but also it is not easy to see your money dwindle and nearly become nothing by investing at the wrong things. Of course if you invest just into bitcoin and ethereum that means you are not going to lose money unless you sell when it goes down. That means as a long term investor you would make a lot of money if you just keep waiting on it.But recently or this year I started taking things seriously. There is an acquaintance who motivated and inspired me to learn more like himself who has become a reliable trader. But now I realize that learning crypto trading is not as easy as it seems.
However there are a lot of people who would not be a big deal, they are just doing this because they think they should and that makes it work very well. In the end, we are talking about something that would be a big deal when it comes to trading as well, and your friend is right, if you take it seriously then you could trade anything and make a profit if you know how to do it.
Dollar price not stable yet with my local currency convert actually last two months drop almost 5%, but its not hasn't good choose when trading except with stable coins between USDT or BUSD. I agree with OP opinion focus trade with Bitcoin only because get chance recovery to higher price in short term than altcoin. My portfolio right now many kinds of altcoin holding after buying on higher price, almost several moths ago waiting for altcoin price recovery but looks need more patience.
Not the same with Bitcoin success wake up to higher price without waiting for long term, have dropped until $15k and Bitcoin price right now have been up 100% after raising to $32,000 last highest price in this month. Regarding my experience loss investment in altcoin, for the future I have decision trade with Bitcoin only and not interested yet trade with altcoin.
Not the same with Bitcoin success wake up to higher price without waiting for long term, have dropped until $15k and Bitcoin price right now have been up 100% after raising to $32,000 last highest price in this month. Regarding my experience loss investment in altcoin, for the future I have decision trade with Bitcoin only and not interested yet trade with altcoin.
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?
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?
There's nothing wrong with it no matter how big or small consider yourself as a trader because you are trading a coin into different assets, bitcoin is the mother of all coins, and people consciously use this coin for daily transactions, it could be for the use of payment, trades and etc. that cause the market volatility and also the bitcoin ahs a lot of pairs so expect that there's a price movement with it, people always want to trade because they want to get ride with the price of the market even a small trades can be considered a win.
Seems like you are trading base on luck which is not ideal not all the time its good consider an investment with your knowledge too so you can prevent to lose more money even its a small amount still consider a money.
What you are doing is not 100% trading but in fact you are just applying the DCA approach to your bitcoin so you are ultimately a holder, not a trader and that is what I can decode from all that you have said, bitcoin is the most suitable asset to hold for long term and USDT is the most suitable stablecoin that you can apply it cost to your bitcoin holding and profits taking approach.
I was actually perplexed about what the OP wrote, this is certainly not trading, it's not instinct trading as well but a pure gambling. Or what else could anyone call this approach? I would have even thought that he's an ardent hodler but for the narrative that he still sells his coin at ATH. The question is how does he know the ATH itself? No one does as the market decides that on its own and people get to know after several activities below the level.Only a good higher chart speculation could later reveal that a reversal is underway or has happened. This is only when a real trader knows the right time to opt from it if they want to. But the explanation of the OP states otherwise.
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?
I was like this last year. I didn't learn basic analyzes for crypto trading. I just entered and waited for the right market moment with instinct at that time. And I also do it only in BTC and ETH.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?
But recently or this year I started taking things seriously. There is an acquaintance who motivated and inspired me to learn more like himself who has become a reliable trader. But now I realize that learning crypto trading is not as easy as it seems.
Yeah, your right. In fact, even asking traders and even me, I was seldom using the BTC pair in trading because it was not really profitable unlike when using altcoins. of course, if we are talking about holding, Bitcoin is the best option to take but if we are trading, we can't benefit from its volatility which is why altcoins seem to become ideal when it comes to trading. Well, we also have to consider a thing that we live comfortably because this is also a big factor that would affect our decision making.
But this cannot apply to all altcoins, since there are quite a few that have shown the worst results compared to bitcoin at the moment, if we evaluate it since November 2022, when bitcoin reached its ATL. Therefore, Bitcoin also has a very good potential for trading, but everyone will decide for himself what is best for him. Maybe some altcoins are really good, but you have no guarantee that you will choose the right ones. I think that bitcoin can be good for both long-term investment and trading. What you are doing is not 100% trading but in fact you are just applying the DCA approach to your bitcoin so you are ultimately a holder, not a trader and that is what I can decode from all that you have said, bitcoin is the most suitable asset to hold for long term and USDT is the most suitable stablecoin that you can apply it cost to your bitcoin holding and profits taking approach.
Yeah, your right. In fact, even asking traders and even me, I was seldom using the BTC pair in trading because it was not really profitable unlike when using altcoins. of course, if we are talking about holding, Bitcoin is the best option to take but if we are trading, we can't benefit from its volatility which is why altcoins seem to become ideal when it comes to trading. Well, we also have to consider a thing that we live comfortably because this is also a big factor that would affect our decision making. 
I don’t know whatever you are doing, it is really a Trading or gambling! As you already admit that you don't know trading that means you just buy or sell whenever you want, thats more likely a gambling. I don’t think you can continue thus process for long timd cause if bitcoin dump you need wait for long time and sometime if you make profit with usdt, it doesn’t mean you make profit. Actually its about bitcoin amount! Is that increased or not! I think learning is more important. So try to learn and practise with demo account. Now your wish, do whatever you decided better for you
What you are doing is not 100% trading but in fact you are just applying the DCA approach to your bitcoin so you are ultimately a holder, not a trader and that is what I can decode from all that you have said, bitcoin is the most suitable asset to hold for long term and USDT is the most suitable stablecoin that you can apply it cost to your bitcoin holding and profits taking approach.
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.
From the experience I have got with these kind of senario not easy as you think, I was cought up in 2017, bought at the top and the continues to melt down, it was a painful experience that each day, weeks and months I didn't see for once where the price come to my entry point to have the opportunity to exit the market. Therefore If eventually I bought BTC and it happens to be at ATH, where the price fails to make new highs, To be sincere it doesn't make sense to hold at that point and immediately I'm getting out of that market because I will have a better opportunity by applying DCA strategy to buy at cheaper prices while the price crashes.
It's very difficult to keep holding after you just bought Bitcoin and it starts going down. It happened to me recently, though it wasn't that bad. It was just before the period network fees skyrocketed. BTC was about 27k or thereabout. The next day it started going down and down.
You know that the price will still rise, but you can't help but feel uneasy. It takes a whole lot of control not to sell at a loss. Part of what made me not sell was because I occasionally have a few positives from the fact that price was not just constantly going down, it increases by a few percent from the to time, but ultimately the rate at which it was going down was worst. Luckily it didn't last for a very long time.
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?
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?
Yeah funny, I used to be like this long time ago but not anymore. I have told myself that Trading is not my thing anymore and I am better off with the Hodl of bitcoin. For this very reason whatever I am buying these days goes straight into my hardware or paper wallet and I am more than happy to hodl it like that. As you mentioned, when you lose your money on trading pair, all you do is hodl your bitcoin and don't sell them until the price bounce back. In my case I am just skipping all the trading buzz and going for buy and store it. :-)
I also tried to learn the trading a lot but failed every time and each time. I am not saying I made zero profits, but I made more when I am just doing dollar cost averaging. This has lot more impact as compared to wasting my time on TA and understanding the future pattern etc.
You are absolutely right that most people choose altcoin for trading, and the main reason for this is that altcoins are more volatile than Bitcoin. An experienced and good trader can make a good profit where there is high volatility, but for trading also your choice should be among the good and top coins of the market. Some people start trading in new coins where their capital is trapped when the price suddenly drops. Therefore, it is necessary to have complete information and analysis about that coin before trading.
I think Bitcoin should be chosen for long term investment rather than trading. This is because you will need more capital to trade in Bitcoin. Whereas in altcoin you can start your trading with less capital.
Yes, altcoins are more volatile, so the prices are easier to move significantly in a short time. Trading expects the price move in a short time, it is different with investment that target the price change in the long run. Although Bitcoin price change looks more convincingly, but it takes a long time to see a significant change. We all know that halving is one of the factors of significant change in Bitcoin price. The halving only happens every 4 years, we need to wait for 4 years at least for the huge change. While for altcoins, the price can increase suddenly when there is good news related to the projects of the coins. But since it is related to the news, the is also bigger risks for a huge drop.I think Bitcoin should be chosen for long term investment rather than trading. This is because you will need more capital to trade in Bitcoin. Whereas in altcoin you can start your trading with less capital.
Indeed. Bitcoin is more expensive, we need a bigger amount of money to earn sufficient profits. While altcoins are cheaper, it is possible to earn good profits with less money in a short time due to its big volatility. However, the strategy is the main factor to determine how good the profits to earn.
what I read from your post, you don't have a definite goal between trading and investing. the two should be separated, bearing in mind that daily trading does not always have to make a profit, sometimes there are also errors in analysis, and our job is to minimize risk when wrong in analyzing. if we have the initial goal of trading and the price goes down, we don't cut losses, over time we become like investing, so there is no daily income, even though by trading we are trying to find regular income, as the term trading for living
USDT was invented literally for that reason, and I can see why people would prefer that over anything else. It would be a smart decision to follow it up in dollar value as well because that is what the world is using these days and the more dollars you have the better, doesn't have to be in dollars, you could have bitcoin but the value of your bitcoin going up in dollar is still a good thing.At the end of the day, when you want to buy something then you can do that with dollars, so you need to have more of that. There are a lot of people who end up with some mistakes here and there, but that doesn't mean it would be a bad idea, just do what you want to do and you could make a profit if you do it right, that's the key.
I agree with this, it is going to be an easy way of losing money if you start trading without first getting a good information and that's very crucial. I think it is quite important to remember that it is not going to be that much of an important thing if you just spend some time beforehand.
A lot of people are still seeing the situation as "easy to make money by trading because a lot of people did it" but just because some others made it look easy doesn't mean that it will be easy for you as well. It is quite important to make as much money as possible by focusing on what you could be doing yourself and the amount of money you could make from it. Just study, learn, be better and then you could do much more profit later on.
Successful examples of other traders always seem simple, but in addition to successful trades, they had many failures that they experienced and were able to draw the right conclusions. Trading requires good knowledge and the ability to analyze, monitor the situation on the market and keep abreast of the news. It's all hard to understand at first, but as you practice you'll understand more and more. There are very few successful traders, this is true, this activity is not for everyone, so if there are no good results for a long time, you should not despair and it might make sense to try your hand at investing, according to the experience of users of this forum, investing is almost always more profitable than trading on long distances. A lot of people are still seeing the situation as "easy to make money by trading because a lot of people did it" but just because some others made it look easy doesn't mean that it will be easy for you as well. It is quite important to make as much money as possible by focusing on what you could be doing yourself and the amount of money you could make from it. Just study, learn, be better and then you could do much more profit later on.
actually for trading you have to learn more. Without proper knowledge could not possible continuously profit. Some times profit is not good for your fund. You invested on Bitcoin it is great. I think if anyone invest on Bitcoin he will be profited today or tomorrow. But for trading you have to gather knowledge about trading and you have to gather knowledge about fundamental annalists and technical analysis. And you have to know about cryptocurrency market. Then you will able to profit contentiously. So i will advice you to learn more and more about trading and market analysis. Or you have to invest and hold for long time foe next bull run market.
I agree with this, it is going to be an easy way of losing money if you start trading without first getting a good information and that's very crucial. I think it is quite important to remember that it is not going to be that much of an important thing if you just spend some time beforehand. A lot of people are still seeing the situation as "easy to make money by trading because a lot of people did it" but just because some others made it look easy doesn't mean that it will be easy for you as well. It is quite important to make as much money as possible by focusing on what you could be doing yourself and the amount of money you could make from it. Just study, learn, be better and then you could do much more profit later on.
I wouldn't suggest or recommend anyone who is new to cryptocurrency to purchase USDT or Bitcoin as soon as they join an exchange, but they should first learn how things work around here, they can start by learning the basics of cryptocurrencies and then move on to trading and learn its basics and how the platform being used works and how they can buy and sell and place their orders and where they can check their balance, etc.
They must prepare basics before they join this market. Scammers always exploit weakness in human psychology and if newbies don't understand basics about on-chain transactions and rules in peer-to-peer trading, it is very risky for them to deal with peer-to-peer trade partners who can be scammers.If they withdraw coin from a centralized exchange account and the trade partner tells that did not receive the coin payment, and request that newbie to initiate another transaction, they will be scammed.
So understand about blockchain, on-chain transaction, block explorers are very basics before they invest or trade.
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Once they learn all that, they should practice using a demo account, and they should only enter the market with real money once they think they are totally ready for it and that they can manage their trades well and won't just give away their money by making a bad trade.
They can register accounts and practice demo tradings on [LIST] Demo Trading Platforms Jump to: