It is good for trading since most crypto depends on its price also the trading volume of it on spot and futures is huge, so it is difficult to manipulate unless the whales are making a move that will affect the price action of bitcoin.
Whales and top companies are the only ones that can manipulate or glitch bitcoin, which happens once in a long period of time, its price is not fixed, up and down movement. Bitocin trading volume is larger than most cryptocurrency in the mark. Bitcoin is a top coin in the market, it's fluctuations keeps getting worsen by the day, to mu surprise, most traders are acquainted with bitcoin and that strengthen me into trading it. I've made countless loss in trading bitocin and also profits, but making sure my profits surpassed my loss. 
Topic: The reason of why Bitcoin is good for trading (for me) - page 6. (Read 1500 times)
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?
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 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?
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?
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.
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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?
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?
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.
It is good for trading since most crypto depends on its price also the trading volume of it on spot and futures is huge, so it is difficult to manipulate unless the whales are making a move that will affect the price action of bitcoin.
Manipulation in speculative assets occur everyday and it's not that Bitcoin is free from it. However the changes occuring in price every 24hrs is much less in the last few months compared to top stocks on the market if you may. This should not happen to be the reason for trading, rather trade whatever is easy and comfortable for you.Do not be of the opinion that one is profitable while others are not. In the long term most assets are profitable if you know to hold and trade them.
It is good for trading since most crypto depends on its price also the trading volume of it on spot and futures is huge, so it is difficult to manipulate unless the whales are making a move that will affect the price action of bitcoin.
Whales and top companies are the only ones that can manipulate or glitch bitcoin, which happens once in a long period of time, its price is not fixed, up and down movement. Bitocin trading volume is larger than most cryptocurrency in the mark. Bitcoin is a top coin in the market, it's fluctuations keeps getting worsen by the day, to mu surprise, most traders are acquainted with bitcoin and that strengthen me into trading it. I've made countless loss in trading bitocin and also profits, but making sure my profits surpassed my loss. 
well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.
Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.
But, not all altcoins are like that, there are also tokens and coins which have high supplies but have good prices and good enough trading volumes because they are backed by strong projects with strong fundamentals.
strong project backed coin is worth to invest and maybe it will be profitable,
Investing in meme coins for me is not a good option but everyone has their own view on it.
There is no doubt that investing in meme coins will result in future losses. Most of the meme coins are scams so it is better not to risk investing. I never consider investing in meme coins but investing in Bitcoin is the best.
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.
I can understand this. As long as there is an upcoming Bitcoin halving, you should feel safe to trade or hold Bitcoin, right? After BTC halving, we probably have bullrun season and it will be the best time to sell Bitcoin. Well, it is not a wrong decision but top altcoins are also almost the same as Bitcoin. If you check ETH, BNB, or ADA, they are also safe to trade and hold now. You must know if these altcoins also follow Bitcoin, even they can rise more than Bitcoin. I think you don't need to trade with Bitcoin only, just try top altcoins for a chance of bigger profits. When there is a bullrun, it is time for altcoins season, too. 
It is good for trading since most crypto depends on its price also the trading volume of it on spot and futures is huge, so it is difficult to manipulate unless the whales are making a move that will affect the price action of bitcoin.
Bitcoin is an advantageous asset for trading due to several reasons. First and foremost, Bitcoin operates on a decentralized network, allowing for peer-to-peer transactions without the need for intermediaries like banks. This decentralized nature ensures increased transparency, security, and privacy in trading activities. Additionally, Bitcoin's global accessibility enables traders to participate from anywhere in the world, eliminating barriers such as geographical boundaries and limited trading hours. Moreover, Bitcoin's high liquidity and volatility create ample opportunities for profit-making through short-term trading strategies. Overall, Bitcoin's decentralized structure, global accessibility, and market dynamics make it a compelling choice for traders seeking efficiency, flexibility, and potential financial gains.
I agree with you, the importance of BTC cannot be ignored as far as many other cryptos are concerned. For me, It its importance increase because of unlike traditional financial markets that have set trading hours, the Bitcoin market operates 24/7. This around-the-clock availability allows traders to respond to market developments and take advantage of price movements at any time, regardless of their location. The second thing is that it is much more secure than others, due to which you can keep your assets safe and earn good profit. Moreover, Bitcoin has seen significant price appreciation since its start, and some traders view it as a long-term investment asset. I like trading in BTC because of its liquidity, and diverse trading options.
well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.
Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.
But, not all altcoins are like that, there are also tokens and coins which have high supplies but have good prices and good enough trading volumes because they are backed by strong projects with strong fundamentals.
strong project backed coin is worth to invest and maybe it will be profitable,
Investing in meme coins for me is not a good option but everyone has their own view on it.
Why is bitcoin so good, if not a secret? In fact, after all, any cryptocurrency usually repeats the bitcoin rate, so everything is almost the same.
I think you can choose any coin if you buy for $250 let's say. If $250,000, then Bitcoin will allow you to buy and sell without much slippage, because this coin always has a lot of liquidity. And not all coins follow the price chart of bitcoin, but bitcoin is always available for trading in different pairs.
well, that is the advantage of bitcoin, that you don't have to worry about your investment. I also often do this. however, I thought the same thing for popular altcoins, not to mention that they are cheaper than bitcoin. so, I sometimes combine my investment with several altcoins. however, personally, I only use altcoins for the short term, and bitcoin for the long term. However, the risk of bitcoin is smaller than that of altcoins, but I feel that with a small capital, the profit is not too big.
Altcoins shouldn't be left unmonitored because they can collapse or get low trading volumes anytime. For example Binance exchange has been delisting some tokens and this has caused their price to fall. If you held those altcoins and didn't monitor them to know when you should take profits or sell to avoid further losses, you'll always lose from the market. Only Bitcoin can be left years without monitoring and still be profitable.Don't invest in altcoins because they seem cheaper than Bitcoin, there are so many reasons why a coin or tokens is having a low price. Some of the reasons could be because the supply of the project is too much like with most of the memecoins that are been launched.
But, not all altcoins are like that, there are also tokens and coins which have high supplies but have good prices and good enough trading volumes because they are backed by strong projects with strong fundamentals.
bitcoin is the most difficult coin to manipulate, so it is more feasible for short-term trading, actually not only bitcoin but there are several altcoins that are also worthy of trading or even investing.
I disagree, if Bitcoin is the most difficult coin to manipulate, then it's not more feasible for short term trading because altcoins has a chance to give better profit due to pump and dump. The key of trading is making money in short term, but since altcoins is centralized and there's a chance the coin would become a dead coin, I can't accept that risk.Why is bitcoin so good, if not a secret? In fact, after all, any cryptocurrency usually repeats the bitcoin rate, so everything is almost the same.
Not really, Bitcoin price do affect most of altcoins, but there are already many top 10 coins had a hack incident and the price never comeback e.g. LUNA, BRC-20 tokens.
Bitcoin is good for trading due to several reasons. Firstly, its decentralized nature eliminates the need for intermediaries like banks, allowing for faster and more direct transactions. Additionally, Bitcoin operates on a global scale, providing ample liquidity and allowing traders to access markets 24/7. Its high volatility presents opportunities for profit through price fluctuations, and its limited supply ensures scarcity, potentially leading to long-term value appreciation. Moreover, Bitcoin's pseudonymous transactions offer a level of privacy, and the blockchain technology behind it provides transparency and security. Overall, Bitcoin's unique characteristics make it an attractive asset for trading, offering potential rewards and diversification in investment portfolios.
Yes, there are a lot of traders like you here.
I did this before but sometimes it could be stressful monitoring the price each day or worse every hour just to check the fluctuation of Bitcoin. Well, if it does serve you well then keep it up. But do remember, there will be times that you will have to wait longer while the price range you set is not reached, and if you are only trading one pair it could become boring in the next days to come.
The good part here is you are focused on just one pair which means it will be like your pet that you will nurture and monitor every moment you have free time. Many traders don't do this anymore and try to do multi-trades to maximize their profits but if you do have the patience to stick to one then good for you.
I did this before but sometimes it could be stressful monitoring the price each day or worse every hour just to check the fluctuation of Bitcoin. Well, if it does serve you well then keep it up. But do remember, there will be times that you will have to wait longer while the price range you set is not reached, and if you are only trading one pair it could become boring in the next days to come.
The good part here is you are focused on just one pair which means it will be like your pet that you will nurture and monitor every moment you have free time. Many traders don't do this anymore and try to do multi-trades to maximize their profits but if you do have the patience to stick to one then good for you.
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.
This makes sense and at least, you already understand what you can do. So, don't force yourself to get involved in trading altcoins which might provide a higher risk. Bitcoin's volatility is actually high. In this case, trading for short terms might be good, if in the spot market, little by little. But not in futures trading or other types that use a leveraged system. Short term trading itself is still risky, but as long as we understand and can anticipate various things in trading, this won't be a big problem. To be sure, do what we can with a variety of considerations and analysis that is good enough. I think your comment is a bit distant from what trading is about, it's mostly about risk and if you're afraid of that, just don't do it.
That is, if you're just doing is placing an order and taking a profit, that's just a trade order but it's not being a pro trader, so, put many order book, (bids, asks). What most people do is not really be a trader.
Leverage is risky, yes, but we return to the point if you are going to dedicate yourself to asset trading, do not rule it out, that is, I always hear people say, short selling yes, no, leverage most say no, and I think it is because they do not have the capital or the knowledge, the key in any type of risk is the capital that sustains that risk, but they want to have the risk 1:1 or consequently the ever ROI+.
I think stop loss is important when you are trading that is true, but when you are making quick trades, trades that you open up and close in a single day, should not have stop loss anyway. Because, if you are doing that then it means you should be able to not lose much anyway, people who trade daily are already on top of the market and when they see a movement they should be able to move manually without a trouble.
However, if they are focusing on how they could build something that will be a long term approach then they can consider stop loss. For example I am a long term investor, I do not personally have stop loss but I would understand people who do. That is how they should be considering it and then it may make more sense.
Even if you are a day trader and making manual trades and are online all the time, stop-loss is still important and plays its role, especially if you are trading coins or tokens that are highly volatile since day traders or scalpers generally look for volatility that provides quick profits, but sometimes, the trade and the market can go totally against you.However, if they are focusing on how they could build something that will be a long term approach then they can consider stop loss. For example I am a long term investor, I do not personally have stop loss but I would understand people who do. That is how they should be considering it and then it may make more sense.
So when you buy a token or a coin that is too volatile and it suddenly gets a big dump, you can be in trouble and have a percentage of your capital stuck, but if you have a stop-loss set, your losses will be minimal and your capital will be free so that you can make more trades and then recover that loss.
OP is doing the long term game of buying low and selling high, it is safe and easy to manage for a busy individual who has a job that usually takes up the day hours. It is also the method told to newbies as a starting off attempt in the exchange and their trading journey.
Keeping focus on a BTC/Stablecoin pair essentially means using fiat to buy/sell it, this is advantageous than using another altcoin which might be influenced by its secondary markets against other crypto. Although this choice will vary among other users based on the acceptance of stablecoins among the community.
I think most of the long term traders would agree with the OP but maybe not on the stablecoin part.
Long-term trading in bitcoin is very similar to investing in bitcoin. We also need to choose a good time to buy and also wait for the right time to sell. At this time, nothing will stop us from going to our main job, since long-term trading does not require us to constantly monitor the situation on the market.Keeping focus on a BTC/Stablecoin pair essentially means using fiat to buy/sell it, this is advantageous than using another altcoin which might be influenced by its secondary markets against other crypto. Although this choice will vary among other users based on the acceptance of stablecoins among the community.
I think most of the long term traders would agree with the OP but maybe not on the stablecoin part.
I once discussed this question in another topic, is there a significant difference between long-term trading and investing in bitcoin, it seems that they are really very close in meaning. The main difference may be that the investor can wait much longer for the set goal than the trader, if the trader's goal is bitcoin at a price of 100k, then the trader can choose intermediate values and take profits depending on the market situation, when he sees what he already has profit, but also sees that the trend is changing.
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