The reason of why Bitcoin is good for trading (for me) - page 8.

Zilon

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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

Keep it simple if you don't understand the technicality. BTC/USDT pair is more likely the most common trading pair choice of most traders, But note that the strategy you use is more of investment than trading because you only buy and wait to take profit for every time a new ATH is reached. Traders make profit and loss hourly, daily, weekly, bi-weekly, monthly depending on their choice of time frame. But in generally the whole concept is the same which is buy low and sell high and to stay profitable knowing how to interprete chart can be an advantage to stay consistent in profit.

jeraldskie11

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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

In my opinion, there are people here who trade like you. Actually it's better to say you're just investing not trading because usually comes to our mind in trading is that you always looking at the chart and analyzing the market to find any setup that are tradeable. If you invest in Bitcoin now there's nothing to worry and I swear you will not get lose even if the price goes down as long as you didn't sell it. We all believe that someday Bitcoin will create new ATH but still not necessary to invest all your money, just like what you do, your way of investing was stress-free.

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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.

As a beginner it's a good idea to focus on one coin and learn as much as possible before moving into other markets. Bitcoin was also my first coin I started trading with, but I used to trade against fiat money not USDT. Using stable coin as a means to save profits is a great idea. The main advantage of trading well established coins like bitcoins is that we are not forced to sell our coins if things go bad. The bitcoin price tends to move in cycles and if we bought at the right time we can always wait out for the prices to recover again. That's also why I would never use a loan for trading, in case we need to make periodically interest payments we would be forced to sell our positions at unfavorable prices. Trading bitcoin is a good market for beginners to make their first experiences with limited downside risk.

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

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.

I advise you to only use these methods with bitcoin and not other altcoins, even though they are altcoin that are good too but have a higher risk of losing than bitcoin, since you are used to these methods I think you should try and be buying bitcoin and continue hodling for a long time. I believe there are people who use the same method as you use to earn money but they didn't call them self traders since this is not how they Trade.

And while it appears that you enjoy trading, the fact that you lack the fundamental knowledge of how it operates makes me believe that you should go learn it. This is because I believe that once you find an altcoin that will pay you more money than bitcoin, you will switch to it. For this reason, I believe you should be knowledgeable about trading now. After reading your post, I believe you may become a full-time trader because you enjoy it.

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

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

We have many individuals like yourself here, most traders are like you and that's okay if you don't sell but keep holding your bitcoin. This strategy mostly work for Bitcoin because you can be certain of getting profits if you keep holding your Bitcoin until the price recover. Don't try this with altcoins as they are not Bitcoin and can collapse or dump while you're holding.

This strategy is perfect if you don't want to be a full time trader but if you want to become a professional trader and make trading your source of income, you have to learn how to read charts and understand them to make your predictions correctly or you'll lose your trade.

Gallar

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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

If it is your decision to trade bitcoin, without studying candlesticks or trends, then continue.
Because if you only trade on bitcoin, I think it will be safe. Because bitcoin already has a regular cycle, like the halving that occurs every four years. So even though I'm not very skilled at trading, I think it will be safe. But I suggest trading in bitcoins for the long term. Because if you trade in the long term, you don't need to bother thinking about trends or candlesticks, you just have to wait for the halving and the desired target price.

But if you want to go deeper into the knowledge of trading in crypto/bitcoin, I think it will be more perfect. Because to a lesser extent, if trading mainly in assets like crypto/bitcoin. Knowledge is needed first, so that it is more organized and focused on the course of your trade. Because if you only trade on bitcoin, you can still do it without having that expertise. But if you step up and want to try other crypto (altcoins), trading knowledge is very necessary.

And in essence, in my view, what you did was not wrong, it was just not quite right. Because if you trade in crypto/bitcoin, it will be easier if you already have the knowledge.

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Quote from: Huppercase on May 17, 2023, 04:49:27 PM

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

If you are not trading to make money, then you are trading for pleasure and you just want to test your knowledge because I have not seen a trader that will say he doesn't like profit much in trading. Literally, that is the motivation of every person in trading, they buy low and sell at high price but I still don't underdtand why you don't like much profits to be made so much.

You see that strategy you are doing, you will lose all your capital and nothing will be left for you if you fail to learn about what you do, you should learn to understand the chart very well, undertand the trendline and also candlestick. The BTC/USD is easier because it is the first and that's more trusted by crypto community but not every like that pair because if you don't have enough money to trade, you wouldn't enjoy it.

maybe for now, he is not looking for profits as he is into btc/usdt only. but once he discovered other alts that can give him good money, for sure he will change his approach in trading. and more then likely, once he got a very good grasp in trading and very confident with it, i guess he will be in several alts. i don't think any trader won't like to make money here.

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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?

Well the past me was like this but right now I'm not trading without doing any analysis since the analysis will help me to predict the next movement in the market. In the past I was really the same as you when I buy at a high price and Bitcoin goes down I wait until I recover and try to trade once again but something like that is really slow for me.

Huppercase

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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

If you are not trading to make money, then you are trading for pleasure and you just want to test your knowledge because I have not seen a trader that will say he doesn't like profit much in trading. Literally, that is the motivation of every person in trading, they buy low and sell at high price but I still don't underdtand why you don't like much profits to be made so much.

You see that strategy you are doing, you will lose all your capital and nothing will be left for you if you fail to learn about what you do, you should learn to understand the chart very well, undertand the trendline and also candlestick. The BTC/USD is easier because it is the first and that's more trusted by crypto community but not every like that pair because if you don't have enough money to trade, you wouldn't enjoy it.

Questat

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I've also been doing that OP when I was new in the market, I was thinking about security and profit assurance as well. But as we gain more experience and market engagement, I've found out that using altcoins for trading is even more profitable compared to Bitcoin, however, the risk is too high as well which is not recommended for low-risk appetite.

But I would say that if you are already contented with what happened to you, I think placing yourselves in your comfort zone is very important in trading. However, I will still encourage you to try altcoins as well.

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Quote from: macson on May 16, 2023, 09:16:13 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

even though the way you do it sounds like gambling, i can guarantee that many traders are doing the same thing as you are doing. many people do trading just to fill their free time or make a side income, they don't focus on being 24 in 7 days in front of a screen to see charts and learn skills related to trading.

but what you do will not always give you guaranteed profits, so you must learn the basic skills related to trading such as analysis techniques and fundamentals, so you don't always gamble ^{(mod-based trading and luck)}

No, he is not gambling but spot trading and no stoploss. If he is lucky, he will make a short-term profit, and if the market suddenly goes down, he will become a long-term holder. It can be said that he has nothing to lose, but trading that way will not be consistently profitable, and as he said, he is not a real trader. To me, this is not so new, long-term investors will often combine this way to make more profits in the short term. What they're doing is just taking the opportunity, if the plan doesn't go as planned, they don't lose.

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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.

Bitcoin is traded all over the country/world, of course: there are thousands of people who trade according to the knowledge and expertise they have, the method, the process of doing it is different, you do method A, that's what you have, other people use method B it's their right, bottom line: all Bitcoin trading processes to achieve good results and profits, it doesn't matter and it's not a mistake if you do the tricks you have.

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

Is there anyone like me here? Cheesy

Maybe, a lot......!

As I said above, you do the way you can, of course other people do that too, for me what you do is more towards investment, some people I know, they don't care if the price of Bitcoin goes up and down, they keep on buying while they can, but one point that they believe in and watch is the new ATH, that's their final benchmark.

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

Is there anyone like me here? Cheesy

I do not expect you to continue to carry out the trading habits that you do. I must say honestly that what you do will become a bad habit. it won't hurt because you have other plans when the trade you make will go the opposite of your prediction.
I also prefer to trade BTC/USDT. but not only for the profit I can get but more for my planning to collect more Bitcoins. I am also not a trader who uses large capital. but I am more careful in planning trades.
However, we wish you continued profit and luck with your trading Wink

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Sometimes I trade like you do, especially when I can't find any clue about the market. And in my opinion, it's a safer way to anticipate losses because we keep holding the coins and don't sell them at low prices. But many traders cannot afford to hold on to their coins and tend to choose to sell them and buy them at lower prices in the hope that the price will rise soon. But each has its own way of making profits and will choose to use methods that make them comfortable trading. If you continue this way of trading and can repeat it several times, I think your profits will increase.

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I think a LOT of people are like you, if I judge from the behavior of most traders in crypto and forex. Plus also being that myself, I can safely say most people who don't trade like hour to hour do it exactly like this.

Even when they use target or stop loss, they can't help logging in and changing minds when things don't happen like they predict!

hugeblack

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A wise strategy and somewhat reduces your risk, but I advise you to mix it with investing in the BTC/ETH pair, and thus you will achieve more return with relatively little risk.

Without defining a final goal, it may take you a long time before making a profit, and this time represents the alternative opportunity that would have been achieved if you had invested early, and therefore you would miss the alternative profit opportunity.

In general, continue with it, learn it to trade in altcoins pairs and start using these profits as a start for short-term investment.

Patrol69

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Earlier I used to trade in some other coins hoping for a bit more profit but since I lost a lot trading other coins I decided to invest in Bitcoin even if the profit is less. Because when I was trading in other coins I noticed one thing that when the price of Bitcoin goes down the value of other coins goes down a lot but when the price of Bitcoin goes up again but the value of other coins doesn't go up in that proportion. Since Bitcoin is safer than all other coins, I now prefer trading in Bitcoin.

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

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.

As you have described your trading experience, I have a question for you: have you been able to profit by investing this way? Because as you say you do these without any observation or idea about trading. Trading this way has the potential to hurt.

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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

Still good decision to trade what you think good for you since you can practice your trading skills for focusing on your favorite coin to trade. But you shouldn't stay on your comfort zone since there are to many coins are worth to trade which can give you more possible profits if you do the right thing on your trades. Also you better start to learn how to do charting, reading the trend line and other important strategies that can help you since it can help you to earn good profits for long term.

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

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.

You should find yourself lucky then if things work out for you as expected through your own method, but to me is a trial by error method which i couldn't encourage such for someone to go for, possibly you're been lucky enough to meet the target as at the time you traded and this works the same way as predicted, but the more you go the more you will need to study and make use of those trading indications for your successful trading experience.

I also want to believe maybe it not yet time for you to make use of those parameters being a newbie in trading, you may require more time to learn and developed the required skills that could help facilitate your quick learning and use of those signals when the time comes.

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Quote from: Plaguedeath on May 17, 2023, 03:52:12 AM

Quote from: safar1980 on May 16, 2023, 06:31:46 AM

Do you think that a modern trader does not need spoploss? If you buy bitcoin at a high price, then you will not be able to trade it for many years and wait for a new growth above ATH. At least ask the miners for the cost of mining bitcoin and buy when its price approaches these costs. According to various calculations, this is from 14 to 22 thousand dollars now.

I've mentioned if Bitcoin price is keep declining, I will not sell my coins and will wait until the bull run happen, that's when the price will recover. Bitcoin don't have such fair value, solo miner and company miner are different, not to mention about the electricity cost, maintenance cost etc.

If you bought bitcoin for $48,000 in 2021, would you still be waiting?
A year and a half has passed, and you do not despair and continue to wait. It doesn't look like trading.
It is true that there is no single bitcoin mining cost for all miners, which is why I wrote a price range. Electricity prices also do not differ much, because no more than 10 countries in the world are leading in this industry.

Topic: The reason of why Bitcoin is good for trading (for me) - page 8. (Read 1500 times)