Trade only Bitcoin - page 8. | Bitcointalksearch.org

bitterguy28

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

there is no wrong in trading altcoin but make sure that you completely understand that coin and you know the risk.
I am Holding Bitcoin instead of using in trading , and yes there comes along with a little altcoins.
really? for 2 years never that you lose in Bitcoin trading? instead just when you are using altcoins?that is simply amazing of you.

lixer

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Quote from: Jatiluhung on October 01, 2023, 05:37:08 AM

Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

If we talk about lower risk of loss then I agree with you. Because bitcoin price volatility is much lower than altcoin volatility. But I personally rarely trade in Bitcoin. I just prefer doing DCA for long term investments in Bitcoin. Meanwhile, for trading, I do it more often in Altcoins. But I'm not an active trader. I only trade when I'm on holiday from work. But sometimes I also trade in Bitcoin and it seems you are right about not experiencing losses. Because I also feel that I have never experienced defeat when trading in Bitcoin. Because even when the price goes down I prefer not to let it go and wait for the price to go up again. In contrast to altcoins, when they experience a decline, I always release them because I'm afraid the price won't rise again. It's just that trading in bitcoin does have a slight advantage. But that equates to a lower risk.

The fact that altcoins don't go up once they get a decline doesn't really apply to all altcoins because there are altcoins that are good and they might get declines and then recover their price which provides a window for a day trader to make some profit if they buy at the right time when the price is down. However, this doesn't mean that all altcoins are safe, there can be altcoins where if you buy at the peak and it crashes, you might have to wait for a very long time before it goes back to that point again.

When you are trading in Bitcoin, you at least know that it won't crash severely all of a sudden, and you would also not worry if it faces a decline because history is the proof that Bitcoin has always recovered its price after some time of a decline which is why it's everyone's favorite in the market.

kensaii

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Do you mean trading in Bitcoin only and its relatively low volatility to net some profit? Not much but at worst, you can become its holder and bet on the long-term profit. Typical most traders' portfolios have the majority in Bitcoin like that and a small percentage in the other high volatility alts. This is a normal thing so don't worry about that or try to split your Bitcoin bag into smaller alts if you don't feel comfortable enough.

Franctoshi

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

Op, generally when you trade the market with the right approach it seem to respect structure and you will get a positive result not only Bitcoin, But trading Bitcoin gives you peace of mind than trading other cryptocurrency because they are not as decentralized as Bitcoin and can easily be manipulated in price.

cheezcarls

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

Sounds to me that you are a Bitcoin maxi correct?

Although I acknowledge that trading BTC is a best bet, but it doesn’t mean we do not trade altcoins anymore.

If I were to choose which altcoin that I think that is ideal to trade, it would be Ethereum hands down as it is the most popular and has strong market capitalization and trading volume next to Bitcoin.

For me, both BTC and ETH are ideal ones to either DCA (dollar-cost averaging) and day trading. They are both long term for me.

And as for the rest of the altcoins? I can say they’re only good as short and mid-term ones.

Fara Chan

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Quote from: Blowon on September 29, 2023, 02:00:18 AM

if you have a lot of capital to trade. Go ahead, I'm sure even at the current price which is still at least 50% below the ATH, Bitcoin is still very expensive, even very few of us own one Bitcoin. If we invest there, of course the movement will take a long time based on the number of Bitcoin holders now. I don't think it's wrong to use other altcoins in trading. it will be much quicker to earn than having to trade with bitcoin only.

What I don't understand is why you even suggest altcoins for trading, because often I see that altcoins also find it very difficult to get an increase in price when Bitcoin doesn't move very well in the market. You should not assume that currently very few people have one Bitcoin, because I actually think on the contrary that currently there are probably many people who have one or more Bitcoins that are stored well without being told by many people or their own environment.

I also wouldn't say it's too cheap for the Bitcoin price at the moment even though the current price is still 50% below the ATH, but for those who have enough money to buy more than one unit of Bitcoin, I wouldn't say that the current Bitcoin price is still quite expensive. Because those who usually say it's expensive are people who don't have enough money to buy it, so they still tend to look at other options such as altcoins, even though the potential profit through altcoins is also not guaranteed.

Jatiluhung

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

If we talk about lower risk of loss then I agree with you. Because bitcoin price volatility is much lower than altcoin volatility. But I personally rarely trade in Bitcoin. I just prefer doing DCA for long term investments in Bitcoin. Meanwhile, for trading, I do it more often in Altcoins. But I'm not an active trader. I only trade when I'm on holiday from work. But sometimes I also trade in Bitcoin and it seems you are right about not experiencing losses. Because I also feel that I have never experienced defeat when trading in Bitcoin. Because even when the price goes down I prefer not to let it go and wait for the price to go up again. In contrast to altcoins, when they experience a decline, I always release them because I'm afraid the price won't rise again. It's just that trading in bitcoin does have a slight advantage. But that equates to a lower risk.

hugeblack

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Long-term trading with altcoins pairs is considered useless in the long term and may cause losses, so it is better to limit your trading in altcoins to medium- and short-term trading.If you are a professional, short-term trading over limited periods may be profitable and make you earn more Bitcoin, but the greater the risk, the greater the profit, the less security, and the greater the possibility of losing your currencies. Therefore, if you have sufficient experience, I suggest that you risk 10%, if you try to avoid risks just invest in Bitcoin and avoid trading.

Lakai01

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
-snip-

Sorry if I have to say this directly but this is absolute nonsense. As a trader you take advantage of the swings of the price of a certain asset, the asset itself hardly plays a role. According to your logic, one would have to trade Forex for safety's sake, since there are hardly any percentage increases worth mentioning. The opposite is actually the case here ... in Forex trading relatively large leverages are used to achieve the desired percentage increase.

By the way, you have described a market structure for altcoins yourself: If BTC falls, so do the alts ... and usually even more strongly. You can definitely take advantage of this knowledge when trading altcoins. To warn against Altcoins here and to advise people to rather bet on Bitcoins in trading is simply wrong in my opinion.

TheUltraElite

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling,

Thats strange, you should analyse what you have been doing wrong. Altcoins are less profitable than bitcoins but continuous losses for two years, you might be doing something wrong. Because carrying over that same mistake to bitcoin and you might end up seeing the same results, which is not our objective here.

Check your buying and selling points, the interval you have held through. Also why you wanted that altcoin specifically, what things you mis-read from that coin that lead to the loss and your bad estimation.

Trading is a long term game. These analysis might be cumbersome but they help.

irhact

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

I don't know about not trading altcoins as they're the projects that give the most return in the market because they're more volatile than Bitcoin. As an individual that trade, you can focus on trading only altcoins and make big profits that you can later use in accumulating Bitcoin. Altcoins are risky but since you're not holding them for long you can make profits from trading them. While trading you have to be careful to not trade projects that are scams or you'll lose all your money.

As traders, we can decide to trade only Bitcoin and make profits and we can trade both altcoins and Bitcoin and still make profits. When it comes to trading, it's the knowledge that we have and the experience that matters as you can trade any cryptocurency and make profits.

lombok

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

Most of my trading activities during my time with crypto, 80 percent of my trading was on Bitcoin. 20 percent of my trading is in Forex and altcoins. As OP said, trading in altcoins made me lose, I was really blind to altcoins. The altcoin movement is still too wild for me. When my analysis shows that the altcoin I analyzed will experience an increase, suddenly the price of BTC experiences an automatic dump. The altcoin will also experience a more severe price decline. Things like this are what make me survive and be more effective on Bitcoin.

I've also given up on trading spot altcoins. 4 times I bought an altcoin and held it which I hoped would give me big profits during the bull run, but instead I made a profit. The 4 altcoins that I stocked were scams and I lost money 😭

tvplus006

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

... trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure...

It is possible that Bitcoin trading is safer in relation to altcoins, but even the positions of professional traders are liquidated when the price sharply increases or decreases. Therefore, no matter what you trade, you need to adhere to the risk management strategy.

HONDACD125

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

In fact, trading can be very profitable if one has good experience and knowledge about the market. Trading is not so easy that you will always get profit, but a good trader can improve his profit rate with his experience and skill. Trading in altcoins is definitely more risky than Bitcoin, as trading in altcoins can often lead to more losses, as any coin can fall badly unlike the market.

Just as trading in bitcoin is safe but the rate of return is low, in the same way your capital is not very safe in trading in altcoin but the rate of return is high. I think trading in Bitcoin is good, but you need a good amount of money to trade in Bitcoin, because even at the current price, if you trade in Bitcoin. With small capital, you are unlikely to get substantial returns. On the other hand, you can earn good profits even with a small capital for trading in altcoins.Therefore, trading in bitcoin may not be profitable for small investors, but in altcoin they can make good profit with less capital by trading well with their experience and expertise.

JunaidAzizi

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Quote from: Kara3 on September 28, 2023, 02:19:52 PM

Trading is a lifetime skill that is always beneficial if you know what you are doing, the biggest mistake of traders is trading alt that most times doesn't obey market structure,
when it comes to cryptocurrency, trade only Bitcoin.
Bitcoin doesn't just give you profit, it gives you security, it obeys market structure, for the past 2yrs I have been trading, I only have losess only when I trading Alt, price action trading I utilize will trading always gives me result when trading Bitcoin, but when it comes to Alt I really do feel as if am gambling, so my fellow traders, trade only Bitcoin, I don't know if anyone feel the same way?

Yeah, I know that bitcoin is more stable and good than altcoin but you should never underestimate the benefits of altcoins As all know bitcoin is the largest cryptocurrency in the universe and is well known but it's not the only one. altcoins give a trader more diversity than bitcoins. There are hundreds of altcoins in the market which gives the traders more options and the traders find the best one which will meet their goals or returns. Also, the altcoin is less expensive than bitcoin which makes it reachable to new traders, and altcoins have more liquidity than bitcoin, which means it can be traded easily.

I am not saying that Bitcoin is not good or warning the newbies to not go to the Bitcoins ofcourse there is no doubt that Bitcoin is the best but all I am saying is altcoins also have some importance. More, altcoins are riskier lose value easily, and are not accepted widely like bitcoin which makes it difficult to sell.
If you guys want to trade then do it on your own choice I just expressing my views to others may be it wrong so therefore DYOR before going to trade.

Nrcewker

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People trade in order to make some profits on daily basis. I know Bitcoins are the best coins. But if we see honestly, then Bitcoins are not for daily trades. People buy Bitcoins only for investment purpose. Investment and trading are both different concepts. In trading you give time to the market, and analyse it. Trading can only be done with alts with measuring the market risks. Bitcoins are good for long term investment.

Bushdark

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Quote from: |MINER| on September 29, 2023, 12:05:19 PM

I agree with you that trading in Bitcoin is safe. Alt coins are very risky. But I think trading is totally skill dependent. There are many people who have profited a lot by trading in alt coins. There are many people who trade in alt coin and lose everything. But bitcoin is very reliable in this case. Many people think that alt coin has a lot of risk as well as a lot of profit. Trading is always dependent on skill. If one wants to start trading, he should focus on improving his skills. But Bitcoin is the best for trading when you want a secure ecosystem.

Even though Bitcoin is a safe currency, it is quite funny if op really meant it by one should trade online Bitcoin. There are plenty altcoins in the market which we can trade rather but forcing only Bitcoin would not even give us the kind of profits that we are looking. There ere some altcoins that are easy to predict that even the Bitcoin itself so we should always trade what we have good knowledge about not just entering the market to trade any coin we see. There are other Bitcoin peers we can against Bitcoin or with Bitcoin and we can make some good profits from the market. Those who have idea about trading even though they are nit traders should give an hint on this too.

AakZaki

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Quote from: Blowon on September 29, 2023, 02:00:18 AM

if you have a lot of capital to trade. Go ahead, I'm sure even at the current price which is still at least 50% below the ATH, Bitcoin is still very expensive, even very few of us own one Bitcoin. If we invest there, of course the movement will take a long time based on the number of Bitcoin holders now. I don't think it's wrong to use other altcoins in trading. it will be much quicker to earn than having to trade with bitcoin only.

Good advice to trade in Bitcoin, but are you patient enough to wait for the price to move because Bitcoin is currently still sideways at the same price in recent weeks.
Shouldn't you make other trades such as ETH or other altcoins that are more volatile?
Bitcoin will be very suitable for the long term if bitcoin is again in a bearish state like now. Moreover, it fell by more than half of the last ATH.

Inwestour

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Quote from: |MINER| on September 29, 2023, 12:05:19 PM

I agree with you that trading in Bitcoin is safe. Alt coins are very risky. But I think trading is totally skill dependent. There are many people who have profited a lot by trading in alt coins. There are many people who trade in alt coin and lose everything. But bitcoin is very reliable in this case. Many people think that alt coin has a lot of risk as well as a lot of profit. Trading is always dependent on skill. If one wants to start trading, he should focus on improving his skills. But Bitcoin is the best for trading when you want a secure ecosystem.

It is a misconception that if you trade Bitcoin you are safe. There are many examples where traders lost everything while trading Bitcoin futures. Bitcoin spot trading will be much safer if you have the patience to wait out a bear market if you bought at the wrong time, but it will no longer be trading, it will be hold. Or you may have to exit the trade at a loss to continue trading.

Altcoins are also not a death sentence, you can trade on anything if you have studied this asset and think that you can predict its further movement. Trading is not an easy task, but if you follow risk management, then you will have a good chance of learning how to make money from it.

|MINER|

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I agree with you that trading in Bitcoin is safe. Alt coins are very risky. But I think trading is totally skill dependent. There are many people who have profited a lot by trading in alt coins. There are many people who trade in alt coin and lose everything. But bitcoin is very reliable in this case. Many people think that alt coin has a lot of risk as well as a lot of profit. Trading is always dependent on skill. If one wants to start trading, he should focus on improving his skills. But Bitcoin is the best for trading when you want a secure ecosystem.

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