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!
Right now I'm doing very little trading because the price of Bitcoin has gone so high and it's hard to find a trading range. The price has made huge gains lately and I think the price needs to stabilize before we can do short term trading again.
Now I do mostly longer term trades or just hold for long term or until we see more of a drop in price. After a correction, I think there will be more fluctuation in price.