The reason of why Bitcoin is good for trading (for me) - page 4.

savetheFORUM

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Quote from: usekevin on June 24, 2023, 12:47:43 PM

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

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.

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.

nur rochid

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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

Faisal2202

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Quote from: Plaguedeath on May 16, 2023, 03:44:58 AM

First of all I'm not a real trader, but I like to trade to earn small amount profit.
Is there anyone like me here? Cheesy

Present Sir (haha), well but there is a small difference between us, which is currently i left this strategy of following my mood and instinct because it always stuck me with loss and the second difference is, when i used to follow this strategy i did not trade in BTC, i traded in ALTs, which makes it more difficult for me to wait because then there must be an action to take.

Like, stop loss/profit is necessary to put, plus these types of trades will always bring loss (well mostly will) but it also depends on your luck too, like sometimes we got lucky and earn more profit but sometimes not. So, it is better to follow the fundamental and technical analysis.

Quote from: usekevin on June 24, 2023, 12:47:43 PM

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

I think you took the context of USDT wrong here, as OP tried to say, he prefers to trade BTC/USDT pair because in USDt it is easy to count them as we all know, counting become easy when the numbers are not in decimal form. I think you are referring to USDT buying through CC which I do not understand, came from where in this conversation.

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Quote from: Plaguedeath on May 16, 2023, 03:44:58 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

Dear Mate 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.

Aanuoluwatofunmi

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Quote from: usekevin on June 24, 2023, 12:47:43 PM

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

Be it trading or anything one has to do first in cryptocurrency must be begin with trading, you can't just jump into any coin and go ahead with your investment on them all because you wanted to have a trading experience when you're not knowledgeable enough in it, when bitcoin becomes our fors priority digital currency then we will know how to follow the learning procedures gradually and get used to it, then begin the trading without a waste of time than trying to risk other crypto currencies we don't know about for an investment trading.

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Quote from: Plaguedeath on May 16, 2023, 03:44:58 AM

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

Ugh actually you are a trader maybe not just a full time trader or something....

Amount of money you make from trading won't disqualify you from being a trader.

Quote from: Plaguedeath on May 16, 2023, 03:44:58 AM

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

Early on when crypto was getting established, buying bitcoin without the need to know how to read charts was not really something you could consider and you would get away with it and be profitable, but as times have changed its imperative to ahave these skills to get ahead of the game.

My advice spare some time to know how to read charts and alike.

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Quote from: petulino on June 24, 2023, 06:35:34 AM

Quote from: nurilham on June 16, 2023, 04:12:01 PM

Indeed. Bitcoin price increase seems a bit slow, its volatility isn't as high as altcoins. So, it is difficult to expect earning profits quickly by trading Bitcoin. If we want to get profits faster, altcoins are a better option, especially the top altcoins. Altcoins can increase their prices in a short time, specifically if there is good news related to its project development. However, altcoins are riskier since the prices can drop more significantly, too. The prices are easy to drop whenever there is bad news related to the coins.

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.

Whether we accept it or not, there are more and more people investing in altcoins because the chances of getting a really good profit in the future are high if you know how to choose or use legitimate altcoins in the market.

But if you don't know how to recognize potential altcoins in the market it will only lead to losses in the end as if it appears that you are just gambling that you rely on the odds or you get lucky that a trader should not be like that.

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Quote from: Inspiron14 on June 25, 2023, 10:26:11 AM

Yes when we only focus on Bitcoin for me it's like throwing away the opportunity to make a profit,
Bitcoin is better for long term investment and in between times we also need to look for potential coins,
even so it depends on the individual's decision.

The OP seems to be still confused about what strategy to use. When relying solely on Bitcoin to trade, it will give a fairly long return.
It is necessary to diversify assets to trade on other assets that have the potential to rise faster.
Just need to see the volume of coins that are higher and are hyped so that price movements are faster.

Traders will find profit in every price fluctuation, but long-term holders will only buy when the price is cheap and hold it until the main target price is reached.

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Quote from: Nazmul012 on June 24, 2023, 01:29:49 PM

Is this your strategy? Then you Should better to avoid trading and only hold btc. Cause such way is dangerous for trading. Buying btc From peak may recover your capital durning bull session but till that, you Can't do any trade! Have you think about it? Thats bad idea, in my option. Bedsides real traders not only trade only with btc but also they take advantage with others potential coins if opportunity come

Yes when we only focus on Bitcoin for me it's like throwing away the opportunity to make a profit,
Bitcoin is better for long term investment and in between times we also need to look for potential coins,
even so it depends on the individual's decision.

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A trader does not think like this, you are not actually a trader you are talking about holding bitcoins. You may not know how important charts, candlesticks, stops are to a trader. Basically you are a careless investor who has no ability to find the best time to invest. No one would have been so surprised if the inexperienced newcomers to the crypto market made such a statement. But everyone is surprised to hear such experiences from crypto users like you. However, you have mixed holding and trading in one place. You are more interested in holding, so think of yourself as a bitcoin holder rather than a trader.

zonefloor

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I trade bitcoin just like you. In general, bitcoin is one of the most reliable units in the market. It breaks its own record by constantly catching a new ath in every bull period, and now there is a perception that even if I bought it from the top, there is a perception that I will go to a new record in the next bull period or, in the worst case, I can catch a exit from the price I bought. But this is not trade, as you say, but earning a small profit. In short, I trade with the same logic, and the flow is dripping.

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Quote from: Nazmul012 on June 24, 2023, 01:29:49 PM

Is this your strategy? Then you Should better to avoid trading and only hold btc. Cause such way is dangerous for trading. Buying btc From peak may recover your capital durning bull session but till that, you Can't do any trade! Have you think about it? Thats bad idea, in my option. Bedsides real traders not only trade only with btc but also they take advantage with others potential coins if opportunity come

Trading, buying, or whatever it is was pretty dangerous if we don't have any tools used and proper knowledge. We can't just rely on our instinct here, though it can still be used but not to the point that this is the only thing we have on our investment or trades. It is good to know how the market works and the been aware of the situation, and using charts, candlestick, TA, etc are great tools needed in order to have profitable trades or investments which I see OP don't have.

Well, he is not a real trader as he said but even that, he needs to learn things like what I've mentioned if he wanted to improve.

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Is this your strategy? Then you Should better to avoid trading and only hold btc. Cause such way is dangerous for trading. Buying btc From peak may recover your capital durning bull session but till that, you Can't do any trade! Have you think about it? Thats bad idea, in my option. Bedsides real traders not only trade only with btc but also they take advantage with others potential coins if opportunity come

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Quote from: Plaguedeath on May 16, 2023, 03:44:58 AM

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.

Bitcoin is undoubtedly a potential investment for long terms so if your intention is to hold it for a long time then it will obviously give you good returns. But it's not actually a good idea for any trader or investor to buy without analysis or just like gambling.

If you trade without analysis then it's like you are gambling. But holding for long term is another type of investment. But it also should have a good strategy like you can do DCA (Dollar Cost Avaraging). Anyway it's my personal opinion but it's very important not to invest like a newbie.

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When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

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Quote from: Jocuserious on June 24, 2023, 09:08:46 AM

Since i was bought btc for only holding but some time later i got skills about trade then really i enjoy it. There are lot of people here to choice btc only for long time investment and this idea not bad to me. This way very helpful for making profits with very low risk. But you have a best experience which time is good to buy and sell.

It's about a choice and what we all like, some traders preferred BTC/USD because it's the only pair that determines the move of other trading pairs, they feel trading such will help give them their goals unlike Alts that are controlled by some whales and cabals that control the market the way they like, bitcoin might also have whales that still control this market but the influence is minimal when you compare it other altcoins, this is why it's many traders favorite.

However, you should know that there is a draw back to how BTC/USD is traded, it can only be enjoyed when you have much money to trade it, you can't enjoy trading BTC withess than a $1000, any funds that is less than this amount will be a penny when bitcoin make a moves, but it safe to say that trading such pair is the most safest trade in the crypto market.

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Since i was bought btc for only holding but some time later i got skills about trade then really i enjoy it. There are lot of people here to choice btc only for long time investment and this idea not bad to me. This way very helpful for making profits with very low risk. But you have a best experience which time is good to buy and sell.

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Quote from: nurilham on June 16, 2023, 04:12:01 PM

Indeed. Bitcoin price increase seems a bit slow, its volatility isn't as high as altcoins. So, it is difficult to expect earning profits quickly by trading Bitcoin. If we want to get profits faster, altcoins are a better option, especially the top altcoins. Altcoins can increase their prices in a short time, specifically if there is good news related to its project development. However, altcoins are riskier since the prices can drop more significantly, too. The prices are easy to drop whenever there is bad news related to the coins.

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.

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Quote from: TheUltraElite on June 23, 2023, 07:20:22 AM

Dependable trading signals don't exist, my friend. They are mostly scammers trying to lure a newbie into a tricky situation where they pump and dump their own shitcoins while they go in the opposite direction themselves. Trading is done by observing the market movement and then placing orders which lead to a net profit in the difference of buy and sell. There are signal groups but they are all scam

Depending on their signals, you will gain first but soon you will lose. Because they can not succeed to pump all shitcoins and of you buy up price when a coin is pumping, it can collapse instantly after your buying.

Those coins are not rising organically and they lack of real demand to keep up their prices. So when trading volume is rugged by those group signal operators and whales, prices have to be pulled back, more quickly than how they rose. Big red candles are similar seen on altcoin charts.

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Remember that your loss here is another person's gain and this trusting someone else's word on trading leads to a loss.

Appreciate the charts and read the indicators but don't go for signals.

Read trading volume, volume profile VPVR. They show traces of whale activities and potential dumps.

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Quote from: Plaguedeath on May 16, 2023, 03:44:58 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

This place i highlighted is a kind of advise to your own self right, but dont you think is better to keep that decision to yourself rather than say it out here, because you know we have newbies who are still trying to trade the financial market and little do they understand what you are doing at your own end, probably you have made some money already to backup your method incase the market went really deep against you. And many newbies traders wont know this and probably will want to follow your step, because of the way you said it HERE

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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

Topic: The reason of why Bitcoin is good for trading (for me) - page 4. (Read 1513 times)