Topic: trade makes me poor - page 8. (Read 3437 times)

We can not regard cryptocurrency trading as gambling because it is definitely not. It is just like investing normal business in which you can sometimes make profits and you can on the other hand make losses. That does not make your investment, buying and selling a gambling.

In the trading process, of course there are profits and losses. If everyone gets a profit, of course this is not a trading name. Or where does the profit come from if no one bears the loss. Trading is not gambling. We don't make bets there, so it's not gambling.

I'm sorry for your loss, mate. Maybe you should try some arbitrage instead of classical trade. I made tons of money with arbitrage. It was worthwhile during the crypto bubble in 2017. I will explain why was it profitable back then, and not so much today.

First of all, we need to define atomic and non-atomic arbitrage, pros and cons of both methods.

Arbitrage consists of two trading operations and one or more fund transfer operations.

If sequence of arbitrage is trade->transfer->trade , this is non-atomic arbitrage, and is susceptible to transfer speed. Transfers between exchanges are really long, and anything lasting more than few seconds is putting you at risk.

If sequence of arbitrage is trade->trade->transfer, this is atomic arbitrage. Naturally, you need to have funds and specific coins ready on multiple places at once, perform trades at once, and then rebalance your funds. Transfer itself is outside of arbitrage opportunity, and this is the only professional way of doing it. You need to create your own software, connect to particular exchange APIs, and detect favorable trading opportunity.

Now, you might ask why the bubble matters? In bear market your coins might lose value overtime much faster than you would gain arbitraging. Frequency of opportunities also is much lower today. However it's still possible to earn smaller amounts, but if you account for risks such as exchange hacks, exchange closures, scams, overall risky trend etc... It's just not much better than being shitcoin "investor" .

In my opinion, you need to trade not one but several coins at once and then the result will be positive. Of course, you must first select these coins so that they are promising in the future and not exhaust themselves today.

You should have tried first a small amount of money, and you should know about trading before taking the risk because crypto trading is riskier than the stock market. Prices can fall easily in just a split second. Crypto market is very volatile; that is why many experts always remind us to be careful in entering the market.

Im loose more than 1.2k usd in trading in last year and actually i still sorrow about it today

I had that feeling too when I was losing money trying doing trades with leverage at Poloniex and Bitfiniex..You know I had stopped doing it. I am not a trader ,I am a holder and a bounty hunter ,so it is more relaxing for me doing bounty tasks than sitting with a laptop following trends in cryptomarket )))

Well, trading really requires a relative accuracy of the information we receive, and want to achieve this accuracy, we need to go through multiple checks and inspections, being impatient and not doing these tasks, we will fail and therefore, the path becomes poor from trading starting from here. And with such clear explanations and opinions, perhaps many people already know that mistakes are coming from them, they bring poverty to them that they do not recognize, the boundary between rich and poor is due to our ability

frustration must be there, there is also disappointment, all of that must have a lesson. I often experience what you feel right now, but I don't make it a burden to keep trying. all need process and experience. if you are new and have a loss, and you cannot accept it, then you are not ready to trade here. because here crypto is volatile where prices can change at any time significantly.

That's how the market works.
all you need is a good trading plan, management risk, and analysis. And yes, what you are doing is not trading but gambling that's why you can lose $ 1000 dollars in 2 hours.

Of course, these are different things, but you can look at them simply as an opportunity to make money. if you evaluate it as an opportunity, they will become the same for you.

yes, everyone has experienced this, but that's normal, in my opinion, it's trade forex, stock, binary, crypto, there must be a point where we experience the core losses that can be used as lessons and for crypto maybe you should update frequently and certainly a good management portfolio so as not to experience significant losses

I think trading and gambling are two very different things, because gambling only bet using instincts and estimates, while trading requires precision and accuracy in choosing coins that will be invested

if trading make you poor, so never did that again, or you can try harder and make your previous mistake as your experience.

For the majority of people this is perfectly true. trading is 1:1 gambling.

and then that goes well at some point and everyone thinks they are now the superheroes and
continue to play until the credit is used up. i can only say one thing. finger away from trading.
the fewest can do that.

That's because you take trading as gambling. How did you lose $1000 in 2 hours unless panic sell, invest in pump&dump coin or what?

Do you have so small starting capital? On Binance fee is 0.1%. To spend capital on the fee you should make billions of deals with the small sum. Otherwise fee is not so much.
Exchanges live by fees. The fee is the blood of exchange. And such a situation is on every exchange, stock or crypto

Lol! be glad you have realize this on time especially when you are not a professional trader, if trading where that easy to make profit lots of people would engage in it but truth is many losses only few people gain in trading, it is always advisable to hodl if you are not very good in trading then don't do it.

yeah, trading is indeed very risky. i agree with you not to blame trading, we just need to expand our knowledge of trade so that we don't experience the same thing in the future. i think your suggestion is very good, your suggestion also applies to me.
i also have to learn and understand the risks so i don't suffer losses.

for some people to be holders is the safest thing because trade is very difficult to understand.
not only for beginners, this also applies to experienced people. but i think, we should also be active in trading to increase our understanding of the crypto market.

indeed it will be very risky, but we must take the risk to learn and if we are lucky while learning we can also collect profits.