The reason of why Bitcoin is good for trading (for me) - page 5.

TheUltraElite

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Quote from: wajik-tempe on June 15, 2023, 12:17:19 PM

Trading entails making active judgments based on signals, market research, and constant monitoring. When paired with other technical indicators, candlestick analysis assists traders in making better educated decisions. Trading signals provide particular entry and exit locations for traders. Without dependable trading signals, making decisions becomes difficult, and trading may lack a systematic approach.

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
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.

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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

Well, yeah, I guess I am just like you for going to maybe 2 years now, really been a while since last I traded seriously, though my trading doesn't particularly involve bitcoin alone, I Can buy or sell any crypto asset of choice, but then, its always the usdt pair for me as well , this help me keep good track of my gains and losses.

And by the way, trading the spot market isnt as interesting as trading futures, though the futures market is highly risky, but that is where real money is made from trading, professional traders have close to nothing with the spot market, every one is focussed on futures, I've always had a great time trading the futures market before I decided to take it slow and give attention to other important things.

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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.

Even if you trade with small money, it proves you are a real trader. Wink

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

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.

Actually, it is also applied to other top coins such as ETH, BNB, ADA, SOL, MATIC, DOT, or TRX.
If you can't find the best price for selling them, just keep them on the wallets until altcoins season. We don't need to feel worried because they have strong fundamentals, the price will increase in the bullrun season.

Quote from: ?? on ??

Why is bitcoin good for trading? I think there are many better options out there. At least, I would not consider bitcoin as the best option.

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.

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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

Oh yes count me in mate. There are definitely more than enough people who are like us who are just trading to earn small profits and do not understand the sticks and charts. I have started to read about the trading patters in general for now. Just the basic stuff but I am not sure if I will go very far with that. The first case scenario is very simple, I am more or less HODLER of bitcoin rather than trading it for small profits and big losses. It is always or most of the time second case which would happen to me so I am always staying away from the whole trading thing. The only time I would trade is when there is high margin in between my entry point of Bitcoin price and the exit one. I would just book whatever profit it is and start my hodling process again. That's the only trading I can do with my bitcoin.

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Quote from: wajik-tempe on June 15, 2023, 12:17:19 PM

Quote from: Black susano on June 13, 2023, 04:12:39 AM

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 buying and selling.

Is there anyone like me here? Cheesy

I will likely say you are into holding not trading cause for trading they are more of decision making you must follow signals to read what the trade market is said that period you can not just predict charts you will have to all way keep an eye for loss signals and always keep an eye on your candlestick that is the movement of price without the candlestick the display of the high, low, open and closing of a prices of a security without this it will not be able to display and also for trading, signal are much used without
them you can not called them trading

Trading entails making active judgments based on signals, market research, and constant monitoring. When paired with other technical indicators, candlestick analysis assists traders in making better educated decisions. Trading signals provide particular entry and exit locations for traders. Without dependable trading signals, making decisions becomes difficult, and trading may lack a systematic approach.

What you said maybe the definition of trading or something but it doesn't necessarily have to follow all these to be a trader, like OP's strategy which is the most successful trading strategy buy and wait for the profitable days to come which can be very long term trading or can be called as investing but at the end its about making money not about who can say what is the actual definition. Cheesy

wajik-tempe

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Quote from: Black susano on June 13, 2023, 04:12:39 AM

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 buying and selling.

Is there anyone like me here? Cheesy

I will likely say you are into holding not trading cause for trading they are more of decision making you must follow signals to read what the trade market is said that period you can not just predict charts you will have to all way keep an eye for loss signals and always keep an eye on your candlestick that is the movement of price without the candlestick the display of the high, low, open and closing of a prices of a security without this it will not be able to display and also for trading, signal are much used without
them you can not called them trading

Trading entails making active judgments based on signals, market research, and constant monitoring. When paired with other technical indicators, candlestick analysis assists traders in making better educated decisions. Trading signals provide particular entry and exit locations for traders. Without dependable trading signals, making decisions becomes difficult, and trading may lack a systematic approach.

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Quote from: wxa7115 on June 14, 2023, 11:38:28 PM

And many people use the same strategy, after all if you bought at the top or at least near that level then it is going to take years before you can breakeven, if that is the case then it is way better to just sell your coins and accept a small loss and then buy bitcoin near the bottom.

However there are people that went through this experience and they were still able to hold their coins and obtain profits during the next bull cycle, it is just that doing something like this requires a godly holding skill that almost no one has.

It's always going to be a losing battle statistically, if you hope to buy at the bottom to sell at the top, because Bitcoin is 95% in the bottom and only 5% at the top. Which is the whole reason of DCA being the most successful strategy. It forces you to buy at all instances, top or bottom, but results in 95% of your buys being at the "bottom"

The only thing about DCA is to set a target or to keep track of investment value (at time of buying) and to ensure you sell when overall investment return is up. Not difficult at all once you use DCA > 1 cycle.

wxa7115

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Quote from: Franctoshi on June 13, 2023, 02:55:08 PM

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.

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.

And many people use the same strategy, after all if you bought at the top or at least near that level then it is going to take years before you can breakeven, if that is the case then it is way better to just sell your coins and accept a small loss and then buy bitcoin near the bottom.

However there are people that went through this experience and they were still able to hold their coins and obtain profits during the next bull cycle, it is just that doing something like this requires a godly holding skill that almost no one has.

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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

That is a very good pair and you can make some good amount of money when the market is pretty volatile. There are similar pairs like this one that we can trade too since there are different altcoins in the market with very good movements. No matter the kind of trader that you are whether you like trading on smaller timeframe or bigger time frame, you can always make profits depending on the capital you are using to trade.

I don't get you, do you mean that you don't you stop loses? Even the pro traders have learnt there lessons to always use a stop lose when trading in the market since we are not so sure what the market is capable of doing and how it will effect the bull run or the bear run. No matter how good you are in the market, you need to make sure you trade with stop loses to avoid a bigger mistake.

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Quote from: Franctoshi on June 13, 2023, 02:55:08 PM

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.

It is painful because from an All Time High to an ending of a bear market, it is very stressful and needs long time to cause most of engaged people disappointed and exit the market because of negative emotion, psychology. It is a very important phase to prepare for a next big bull run and we can not have big bull run if the market can not wash out weak hands.

You were luckily because you did not use margin so you were not liquidated in past bear market. You were lucky too because you did not store your bitcoin on exchanges that died in past bear market. It can be your luckiness or your right decisions to store your bitcoins with a good method, not on exchanges.

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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.

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.

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Quote from: ?? on ??

I have a counter question - what is it good for? It seems to me that there are definitely better options for work now, and more importantly - much more reliable and profitable.

Of course there are other options to consider besides trading bitcoins, but you didn't mention which one.
It all depends on individual interests and abilities. I know some lucrative options are also available like being a content creator or something like that, but it's not as easy and fast as it seems. The fact is that it takes people years to develop their skills to make money on it, but trading allows you to make a profit even after you buy it.

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Quote from: ?? on ??

Why is bitcoin good for trading? I think there are many better options out there. At least, I would not consider bitcoin as the best option.

This statement is might be underated by some people but there is sense in this because Bitcoin is the most like by everyone doesn't gurantee profits for traders especially the ones who have limited capital to trade, altcoin is the best in this market to get something out of it, if you trade bitcoin with a few dollars, you will end up making a peanut but altcoin that is popular by demand and also have good volume that trends every week, you will get your own cut of profit in every candle, you will make something even with the small capital at hand, but don't forget the risk involve in altcoins, they can give loss too.

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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 buying and selling.

Is there anyone like me here? Cheesy

I will likely say you are into holding not trading cause for trading they are more of decision making you must follow signals to read what the trade market is said that period you can not just predict charts you will have to all way keep an eye for loss signals and always keep an eye on your candlestick that is the movement of price without the candlestick the display of the high, low, open and closing of a prices of a security without this it will not be able to display and also for trading, signal are much used without
them you can not called them trading

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Quote from: justdimin on June 09, 2023, 12:39:50 PM

I think that is still quite big movement, sure it is not going to collapse on itself and that's a good thing but that doesn't mean that we are going to end up with zero neither, we are going to end up with a big movement. So when bitcoin moves 3%, you may move 30%, instead of losing all 100%, you are losing 30%, but at the same time instead of earning 100%, you are losing 30% as well.

These are the differences and that's why it matters. I still prefer regular old spot trading ,buy bitcoin and sell my fiat, and sell bitcoin to get fiat, that's it. These days it is mostly done with stablecoins of course but I can still do it with regular fiat as well if I want to, there is no need to put stable into it at all if I do not prefer to use it and just want to do regular fiat.

I hope that people would end up with something that would be possible because it should not be that much of a good thing. It doesn't mean that we will have a better return though, that doesn't mean that it wouldn't be a good thing, it doesn't mean that it would be a good thing and we may lose maybe less than full but still loss.

I think it is quite terrible for the end and we should be careful about it. I know that the risk is less than regular leverage type of deal and that is understandable, but being less than normal doesn't mean that it will be like that for a long time, it just means that we are losing and yet losing less and that is why it is still a trouble. Learn how to trade on spot trading and be right there for many times in a row before people go into these things.

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Quote from: ItsCrafty on June 09, 2023, 06:11:03 AM

Bitcoin is often considered a good platform for trading due to several reasons. It has high liquidity, meaning it can be easily bought and sold. Bitcoin operates on a decentralised network, providing accessibility and eliminating intermediaries. Its price maintainability creates opportunities for potential profits through short-term, long-term, and part-time investment. The round-the clock nature of the Bitcoin market allows users to trade at any time. Additionally, Bitcoin's global recognition makes it a popular and known choice among traders throughout the world, contributing to its trading potential. Remember that before trading in Bitcoin, you must first learn and gain skill about cryptos and be aware of and prepare yourself for the profit and loss margins.

First of all, Bitcoin is not a platform but an asset or a cryptocurrency that people buy and sell, and I believe volatility and enough liquidity are the two main reasons why traders prefer Bitcoin over other cryptocurrencies when trading, one more thing is that Bitcoin seems safer than altcoins because it has been around longer and has gained a sort of trust among the community that it won't bring many losses if it's kept and isn't sold after panicking.

Still, whether Bitcoin seems to be a safe option to buy and sell as a trader, one should still do their own research and understand all the metrics that must be considered before trading cryptocurrencies because even Bitcoin can have some risks involved with it.

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Quote from: gabbie2010 on June 08, 2023, 11:37:36 AM

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

That means you are using spot trade in trading BTCUSDT because despite buying at the peak your risk is very minimal despite a price reversal or retracement compared with when you are trading with Isolated or cross margin with a leverage of 3x and 5x or if you adopted future trading then you will need to worry about liquidation because of the high risk involved in trading, spot trading is more or less like investing in Bitcoin and hodl that means for you to break-even after a price reversal you needed to wait till price turn bullish and pump till your entry price well it's a good strategy for any newbie without any knowledge of candlestick patterns.

I think that is still quite big movement, sure it is not going to collapse on itself and that's a good thing but that doesn't mean that we are going to end up with zero neither, we are going to end up with a big movement. So when bitcoin moves 3%, you may move 30%, instead of losing all 100%, you are losing 30%, but at the same time instead of earning 100%, you are losing 30% as well.

These are the differences and that's why it matters. I still prefer regular old spot trading ,buy bitcoin and sell my fiat, and sell bitcoin to get fiat, that's it. These days it is mostly done with stablecoins of course but I can still do it with regular fiat as well if I want to, there is no need to put stable into it at all if I do not prefer to use it and just want to do regular fiat.

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Quote from: Strongkored on June 08, 2023, 05:57:44 AM

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

Is there anyone like me here? Cheesy

The way you do it only matches the pairs you choose, if you do it on altcoins whose development is unclear and think the price will go up again then all your capital will be ashes sooner or later.
I did the same thing when I first started trading, but unfortunately not in the same pairs as you so the results were really bad because the altcoin that I bought turned out to be a developer cheating and dumping all the coins into the exchange to run with the money they got from dumping away the coins it holds, so as I mentioned it is only suitable for BTC-Stablecoins but hopefully the stablecoins you choose are not like UST, so actually you are still at risk of losing if what happens to UST happens to the stablecoin you choose.
So it would be better to also develop knowledge about trading or if you want to keep doing the same thing, change to BTC-Fiat pair and do it on the local exchange which I think is much safer.

Choosing that kind of alt is I think fine in trading because we will just trade them right away. It only becomes risky if an investor picks them because the coin could die already before they come back to see their portfolio because investors usually leave their portfolio for a while to avoid getting distracted. It's normal to make mistakes on our earlier days in trading but we can learn valuable lessons here.

It's up to us already if we will apply it or we will now move on. What happens to UST is pretty bad but it did already happen to some stable coins which are also algorithmic based. I'm not saying that stablecoins like Tether, BUSD and USDC are now safe. No, but they have their own issues too.

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Quote from: Renampun on June 08, 2023, 01:33:16 AM

trading without analysis and learning as you do is very risky. because if you use mood/instinct it's not trading but gambling, because trading uses analysis and various strategies to be able to minimize losses and get profits. whereas gambling is that you actually buy an asset and hope that it goes up or down, you don't use any method, just stick to your feelings.

there's nothing wrong with you from now on starting to learn to analyze the market based on the news. No need to be complicated to learn charting, just learn the fundamentals. trading like this is much more fun, because we can see how we try to analyze and get profit and when it works we will definitely appreciate trading more.

Bitcoin is often considered a good platform for trading due to several reasons. It has high liquidity, meaning it can be easily bought and sold. Bitcoin operates on a decentralised network, providing accessibility and eliminating intermediaries. Its price maintainability creates opportunities for potential profits through short-term, long-term, and part-time investment. The round-the clock nature of the Bitcoin market allows users to trade at any time. Additionally, Bitcoin's global recognition makes it a popular and known choice among traders throughout the world, contributing to its trading potential. Remember that before trading in Bitcoin, you must first learn and gain skill about cryptos and be aware of and prepare yourself for the profit and loss margins.

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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

Honestly, I don't believe what you say "You never learn chart and candlestick" Instead you just base trading on your mood and instinct. Given the fact, it's true that you decide on your mood and instinct, of course when you set up to buy or sell bitcoin or other cryptos, you'll see the chart/graph and candlesticks, it's impossible not to see that. Also, when you see that you will have an idea of what you should do and you will have an idea to also see the indicators of which direction the price is going.

There are no traders who don't know how to read the candlestick or read the chart on every exchange that will use it. So you only have two choices, dude, are you a Bitcoin or crypto trader or are you just a Feeling trader who doesn't know what you're doing? I'm sorry, I am just stating the fact based on what you say. Because even though I don't know anything, I will still base my buy or sell set-up on the direction of the candlestick or the indicators on the chart. That means what I saw on the chart via candlestick gives me an idea of what to do and that's where my instinct comes in.

Topic: The reason of why Bitcoin is good for trading (for me) - page 5. (Read 1500 times)