Trading sucks, I'll just hold my coins

CryptoLifeP

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Activity: 266

Merit: 10

Quote from: rremus91 on August 03, 2017, 06:40:29 PM

Yesterday I just lost 1.8k USD, maybe in USA or in West Europe that's doesn't much, but here in my shitty country that's a f* big amount of money. Here the minimum wage is ~ 300 USD / month. So that's like 6 month of work if I cut my bread and water and live on air. Half of my saving were other investments, but anyways... I'm feeling shitty right now. Oh, and I break my laptop. So yeah, that's another - 500 usd.

I though I can trade. Buy low, sell high. Sounds good, doesn't work.

Looking at the charts and candle sticks and watching old bitcoin values, and huge spikes (pump, I saw here how people uses the pump word, daaaamn...) I was... yeah, I can totally do that. I'll just buy when it's low, and sell it when it reaches the top. Well, I was wrong. You can't see the future, otherwise everyone would be a millionaire. That would be true if you would have a delorean from '85 with Emmett Brown and Marty Mcfly and you could f* travel in future and see the PUMPS!!!1

So anyone who will read this message (noobs like me) if you don't have any trading experience, don't do it. There are expert traders who know how this market works, when to buy and when to sell. Don't assume your skills by watching youtube videos and reading "daily indexes and predictions" of how the price will rise or go down by shitty sites. That's just dumb. You don't know what's gonna happen. Maybe a little bit of luck, or I don't know.

So yeah, from now on, I'll just leave the trading area for experts and I will invest in bitcoin by buying every 2 week or monthly and saving into my wallet. And one day (I hope so) the price will rise and I will buy for my self a delorean.

Cheers!

Trading sucks because you don't know how to trade.

You need to have financial background and more then 5 years experience to day trade and get profit from it.

It is better to start investing to ICOs but be careful and diversify risks. Read what is RISK MANAGEMENT and read it 100 times.

The next upcoming ICO is lccx.io - looks like promising exchange based in London. Well developed white paper, experienced team, located in politically stable jurisdiction.

taktik

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Activity: 504

Merit: 100

Quote from: Suslura on April 19, 2018, 02:21:57 PM

Quote from: mabell943 on April 19, 2018, 01:33:58 PM

Yes it is true somehow because the trading job is very stressful, through lots of task needed in this job it gives you too much burden which can cause you lots of thinking’s and that is not good is not good.

It is easiest to leave your coins for storage and wait for promising prices. But still, trade brings more profit, but for this you need to devote a lot of free time .

The fact is that, as in that activity, so in another, you still need a certain experience. Crypto currency is always associated with a huge risk that will not forgive you for any mistakes. You can become either rich or poorer than the Poor.

Suslura

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Activity: 579

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Quote from: mabell943 on April 19, 2018, 01:33:58 PM

Yes it is true somehow because the trading job is very stressful, through lots of task needed in this job it gives you too much burden which can cause you lots of thinking’s and that is not good is not good.

It is easiest to leave your coins for storage and wait for promising prices. But still, trade brings more profit, but for this you need to devote a lot of free time .

mabell943

sr. member

Activity: 590

Merit: 258

Yes it is true somehow because the trading job is very stressful, through lots of task needed in this job it gives you too much burden which can cause you lots of thinking’s and that is not good is not good.

yohaneshs

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Activity: 406

Merit: 11

Yeah that's a business, sometimes you profitable and sometimes you loss.
Business have a risks and loss is a part from risks. I think you should review your business strategy and try a opportunities in other place.
Maybe trading is not your favorite job but the other business is better for you. Take a time to introspection and review your business plan.

apityeh71

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Activity: 476

Merit: 10

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Trading actually more promising profit than holding because we doing buy and sell many times, and could be you loss because dont have any risk management to avoid loss. Although trading is more risky but trading not gambling , with solid strategy and good psycology we can make profit.

Barbatsutsa

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Activity: 149

Merit: 12

I fully agree with you - moreover holding coins automatically increase their price...more people hold - higher goes the price.

clex_us

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Activity: 336

Merit: 100

when we do not have proper trading plans, we cannot expect positive results from trading. I guess how gamblers switch over to fun seeking gambling mode, traders also will switch over to long term plans when they find their trading is not good for fetching them profits.

emmybd

full member

Activity: 1218

Merit: 112

As the market has been dropping continuously, so the simple strategy buy low and sell high doesn't work most of the time. Many people have been losing in trading in this slump market. So, a lot of them have started to hold. As other strategies have not been working.

boty

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Activity: 1190

Merit: 212

★Bitvest.io★ Play Plinko or Invest!

I think that I can deduce from your problem your main mistake is in your patience, your patience can not be controlled and better practice your patience when playing trading if you really can not be better you buy the mining tool can give you a lot of coin and you just need to sell it.

MUG1WARA

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Activity: 1008

Merit: 101

in many trades that will happen to you. if your analysis is correct then you will get the money easily but if you are wrong then your money will run out and disappear

cydrix

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Activity: 602

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Wise decision man. Usually newbie traders or new start traders panic sells if they think they will not profit anymore but the truth is if you hold you coin even longer there is a chance you can profit more than you think.

wayancrypto

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Activity: 462

Merit: 11

Trading actually offer opportunity to gain more profit than holding, but offcource need some knowledge, strategy and management of money. Hold also has the same risk because the volatility of crypto so high, if you bought crypto on the top and you just hold it so you will lose in big money. Knowledge and strategy is important when make investment in crypto because the volatility so high, so we can minimize the risk.

Hoganye

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Activity: 625

Merit: 501

Quote from: ducphucmmo on April 03, 2018, 11:02:13 AM

You maybe right. I think this decision entirely depends on the person himself. If he is not good at trading, then holding will be the best option for him to have a good profit at the end. Even professional traders would really experience loss because no one on this world is a perfect trader which cant really make losing trades. It's normal to get some loses the thing which is important here is that we should end up the day on profits

That the reason professional trader or the whale usually spend more times to create strategy and plan for investment. They do not need to hurry and have wrong decision. They move slowly and follow mentality of other traders on the market. Example the whale, before pump or dump, they usually use FUD + rumor to check the market first.

denisaardelean

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Activity: 322

Merit: 10

I understand if op wants it, the expertise and style of each trader is very different, if we do not dare speculate then it can hold as long as possible until the price becomes clear, it is tantamount to investing in gold assets. Trading can only suck when you rush into it. I am not a very good trader but from what I know, you cannot just rush into trading thinking it is a ball game. There is more to trading than just prediction

strongwarrior238

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Activity: 294

Merit: 10

Some people will do trading for passion, and some people will take it very seriously, and they are looking their life in this trading. In trading, if you have the patience to wait for the right time you can easily make money. To get profit from trading does look easy but the reality is very difficult, not only takes a long time to analyze the market but also in need of skill about technical and fundamental analysis

ducphucmmo

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Activity: 168

Merit: 11

You maybe right. I think this decision entirely depends on the person himself. If he is not good at trading, then holding will be the best option for him to have a good profit at the end. Even professional traders would really experience loss because no one on this world is a perfect trader which cant really make losing trades. It's normal to get some loses the thing which is important here is that we should end up the day on profits

Intersan

hero member

Activity: 641

Merit: 505

Quote from: TomUyamot on April 02, 2018, 08:40:57 PM

So true, based on experience. I have had similar experiences in the past regarding trading. I was also too excited that I really wanted to try trading. To actively set a bidding price in an order and then an asking price afterwards. That is just so sweet to imagine for a newbie. And then in a few days, the sweet imagination came crushing down. The ending will always be a frustrating value of your portfolio. And then I resorted to holding, just like you. But I also did a few swing trades right after that. Kind of holding, only short term.

I am once a newbie trader and just like you I have also set my hopes up when I am trading. I really thought that trading was easy when in fact, it is just easy to set what you want but the volatility of the coins will greatly affect how much you are going to earn. More often, the price starts to get low after the token distribution of campaigns and it would take months before the price starts climbing up again.

For now, it will be better to hold all coins. Bitcoin and other coins are still on dump and it is very hard to predict when the price can start climbing up again.

DanielRR1997

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Activity: 196

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Let's start at the beginning. You may have heard many things about what a cryptocurrency is, but you may still be searching for an understandable definition. I hear ya, I was in the same boat for a long time. Instead of getting too technical, here's the easiest way to think about cryptocurrencies:

https://www.tradingheroes.com/cryptocurrency-trading-guide-beginners/

sabarr

full member

Activity: 364

Merit: 100

in trading we must really be able to make decisions correctly because if we are wrong then we will lose and can not do anything but hold back the bitcoin we have to avoid the loss, I also experienced things like that and I must be able to control my emotions and patient

Topic: Trading sucks, I'll just hold my coins (Read 25868 times)