The reason of why Bitcoin is good for trading (for me) - page 9.

Plaguedeath

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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.

Quote from: noorman0 on May 16, 2023, 10:05:00 AM

There's no indication of gambling, the OP isn't really going to lose the portfolio.

Correct, I will not sell my coins in lose, it's just an unrealized lose. Bitcoin price will never going down to $0, it's not gambling where I will lose all of my money.

Quote from: tranthidung on May 16, 2023, 06:34:13 AM

It is only realistic if you are trading with Spot. Cheesy

Yep, for me margin trading or leverage trading are for making quick profit and high risk, I feel more comfortable in spot trading.

Quote from: Wiwo on May 16, 2023, 04:15:21 AM

It will be worth it for you to state how much profit you have made so far vs your losses through this self-thought mechanism

I can't share it, but I've did few successful trade before.

Now I'm currently in lose because I bought Bitcoin at $27.5K, but no worries I will keep holding Cheesy

Litzki1990

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The price of Bitcoin is usually dependent on some volatility you trade. That is, you never follow the rules of trading, only when a few candles go down, you trade accordingly. But I don't know how long you will be successful in trading this way. Because if you want to trade, you should have enough knowledge about trading and then start trading. Trading based on these assumptions of your market mood will never do you any good. Don't rely only on your own ideas, learn something, get enough ideas and then invest, then you will see that you are successful in trading.

TravelMug

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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.

Not sure if it will fall on the category of a trader, as far as I know, traders are taking advantage of the volatility to make more money. But I do understand your strategy, and it works more likely when the price of bitcoin is going down and you don't want your capital to get hurt.

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

Is there anyone like me here? Cheesy

For sure, I did this strategy way back, when I was still a beginner here, like 2017-2018. But it's not for me, at least being a steady trader. So I just choose to be a holder and invest when I have the capital or do the old but reliable strategy of Dollar Cost Averaging.

noorman0

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

even though the way you do it sounds like gambling,

There's no indication of gambling, the OP isn't really going to lose the portfolio. The loss may only be limited to the time delayed to execute a commensurately profitable order, but it is definitely profitable in terms of value and does not have much of a psychological effect.
However this is still included in the category of trading although it is not as complicated as the way traders in general.

macson

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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

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)}

Bananington

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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

There are people like you, but while you are like this, it will not he good to stay this way without knowing anything about charts, candlesticks and other things a trader or anyone who is interested in trading should know even if they do not yet understand it completely. Also as a new Trader I think the only nice thing that you have done is picking a pair to stick with even in this your play trading, new traders should try to be consistent with a trading pair that they are comfortable with.

tranthidung

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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

It is only realistic if you are trading with Spot. Cheesy

If you don't use Spot trading but others like Margin (Leverage) or Future trading types, you will not be able to choose to hold your bitcoins or sell it. The exchange you are using with Leverage, Futures trading type, will pull its trigger to execute forced liquidation.

Forced liquidation

safar1980

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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

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.

Oshosondy

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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

With everything that you explained, you are not a trader. You prefer to hold is only what you are saying indirectly. Holding is better, but the correction can come in short time too and you will make profit and won't be considered as holding, but you need to use indicators and technical knowledge of trading to become a good trader. If you have the technical knowledge and you follow this, I think it will pay you as you do not use leverage.

If you are not greedy, the best coin to trade is bitcoin. There are many altcoins that are very volatile, I do not know why those exchanges are listing them for derivative trading. But there are still better altcoins too. But preferably, bitcoin is better.

Know that if you do not apply the technical knowledge and trading strategies, you are only gambling.

Wiwo

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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, trends etc, all of my decision come from my mood and instinct. No stop limit, no following any signal, no watching my PC 24/7 etc, just directly buying and selling.

Is there anyone like me here? Cheesy

It will be worth it for you to state how much profit you have made so far vs your losses through this self-thought mechanism, be rest assured that the formula you used is one of the oldest primary trading texnhinuqes, by just using the buy-low and sell-high mechanisms this is not new to many of us and if I must advise you, I will say you should maintain that single trading pair.

Because the moment you add another trading pair to the Bitcoin you are trading right, it may make it hard for you to be able to control your emotions.

Plaguedeath

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Activity: 910

Merit: 680

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

Topic: The reason of why Bitcoin is good for trading (for me) - page 9. (Read 1513 times)