Using BTC only for Trading? - page 2.

Sled

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Quote from: BuNga_cute on July 13, 2021, 08:36:12 AM

Quote from: Ararbermas on July 07, 2021, 11:35:38 PM

Stable coins is very reliable to use when it comes trading especially if you prefer to trade with bitcoin, because bitcoin is so volatile and you can't protect your money in it if you're using some alts to trade with it. and the fact that bitcoin has many whales within reason it's easy to manipulate so it always a good idea to pair it with stablecoins to assure your profits is secured no matter what happen in the market.

Indeed, using paired stable coins is far more effective for securing profits than trading using Bitcoin pairing. Due to the volatile Bitcoin price, trading
using Bitcoin pairs is less risky. Unless our goal is to trade to collect Bitcoin, then there is no problem trading using Bitcoin pairs. But with the current
bad market conditions it is not recommended to trade using Bitcoin pairs, but using pairing stable coins is much safer.

BTC/USDT trading pair is what I commonly used when I started but for now, it is to realize that BTC is not profitable anymore unless if you are just collecting for the future.
If you are a short-term trading, new coins are something that could give you a decent reward. However, we need to be careful choosing them and we need to consider those factors that could help us to determine if that coin is legit or not. I use to sell them when it hypes and no longer to trade them back.

BuNga_cute

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Quote from: Ararbermas on July 07, 2021, 11:35:38 PM

Stable coins is very reliable to use when it comes trading especially if you prefer to trade with bitcoin, because bitcoin is so volatile and you can't protect your money in it if you're using some alts to trade with it. and the fact that bitcoin has many whales within reason it's easy to manipulate so it always a good idea to pair it with stablecoins to assure your profits is secured no matter what happen in the market.

Indeed, using paired stable coins is far more effective for securing profits than trading using Bitcoin pairing. Due to the volatile Bitcoin price, trading
using Bitcoin pairs is less risky. Unless our goal is to trade to collect Bitcoin, then there is no problem trading using Bitcoin pairs. But with the current
bad market conditions it is not recommended to trade using Bitcoin pairs, but using pairing stable coins is much safer.

poldanmig

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

More less being a safe avenue in case you miss the sell off targets as markets change.

I am thinking yes we all know just holding BTC is always seen as something as value.

So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.

Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

I personally would prefer to use USDT to do daily trading and save BTC as an asset for the long term, using USDT is actually more effective than using BTC because of fluctuating trading, of course, the estimated assets that we have will decrease quite a lot if the price of bitcoin is corrected down, but it's a little safer if we use usdt, because the nature of usdt is more stable than other crypto.

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

More less being a safe avenue in case you miss the sell off targets as markets change.

I am thinking yes we all know just holding BTC is always seen as something as value.

So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.

Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

Yes they could be success from doing it we could be successful on whatever we want as long as we wouldn't quit and we would learn from our mistakes.
A trade is a trade no matter how many or few they would trade the outcome is what's important.
Just do what is more suitable on your skill and try to enhance it.

STT

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BTC has to be one of the best for swing trading surely, its the most assured in any type of long term trend so far though Im also quite bullish of ETH developing a trend over many months also. This is because after many years there is some protocol change that could alter the supply and demand, this is speculation but probably quite a few hold this same view and a common trend could develop hence some assurance over more then short term moves. BTC of course is far larger and longer term but its the same deal in developing over time on multiple time frames. The range we are in right now goes back to the start of the year, that gives reference and more certainty to multiple layers of holders and trades possible across each market and continent across the world.

wxa7115

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Bitcoin is GOD

Quote from: ILuckyGuyI on July 03, 2021, 03:42:44 PM

I'm not sure whether day trading with Bitcoin is the best. I see some people who I know are day trading with stablecoins like Tether (USDT). And they say that they make a good daily profit if they make the investment with a big amount.

There is a lot of money to be made in the BTC-USDT trading pair however it is not easy and the worst part is that many people without any experience are using huge amounts of leverage, after all they reason that if they can earn great profits with the volatility of the market they can earn even more if they use leverage.

But what they forget is that leverage can be a great source of losses as well and they only need a fast movement in the market against them for their accounts to be wiped out, and when that happens they complain about the exchange, the whales, China and anything they can come up with instead of complaining of the reckless trading strategy they were using to day trade the markets.

peter0425

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

If you have more funds and only risking the money that you can afford to lose? then why not mate?

Bitcoin is the safest of all coin and you can be assured that if you did not make the profit you target in a certain time but if you can still keep the hold? then you will surely able to manage earning.

Ararbermas

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Stable coins is very reliable to use when it comes trading especially if you prefer to trade with bitcoin, because bitcoin is so volatile and you can't protect your money in it if you're using some alts to trade with it. and the fact that bitcoin has many whales within reason it's easy to manipulate so it always a good idea to pair it with stablecoins to assure your profits is secured no matter what happen in the market.

batang_bitcoin

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Trading bitcoin is long term and the reward that you'll get will depend on your day to day capital. The bad side of trading altcoins that you've mentioned is having the possibility that you've already missed the train and you'll be left with only losses on those trades.
They're only good for short term and you don't wanna miss the hype that it had made for you to maximize your position and profit.

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I am not kind of a professional trader, but yeah, I am trading Bitcoin. And once if the price is still under the bought price, meaning that the value is getting dropped, I am holding. This is not a long-term holding, but a short term.
However, I am still trading Bitcoin and some altcoins, it will also depend on the market condition based on several analyses (badly, I am not good enough at analysis, but always trying).

And about holding for some years, I commonly will choose a certain year after the bullish time ends and at the bearish time. And then, holding the coin for several years, until the next bullish.
Will it be good? For me, yes, so far, it fits me. But maybe not for you because we have all different ways and strategies. One strategy may not fit others.

but at least, just uses money that we can afford to lose.

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

More less being a safe avenue in case you miss the sell off targets as markets change.

I am thinking yes we all know just holding BTC is always seen as something as value.

So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.

Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

Well doing both holding and trading or use bitcoin in trading is such a good strategy. And we can really make a profit if we can use it in both trading and holding, bitcoin is really good for holding in a long term because I see that there is always a bullrun every four years, and all saw the difference of the bitcoin price before and at present so it is possible that holding is still good for btc.

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

No experienced trader that will likely use bitcoin for trading, but it's not mean that it'ss bad by using it, but it involves a potential risk, using bitcoin, the end product of using bitcoin always land at lost, so i don't think it's encouraging using bitcoin, but i prefer using alternative coins.

SquallLeonhart

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Quote from: gabbie2010 on July 04, 2021, 02:40:34 AM

Quote from: Hypnosis00 on June 30, 2021, 05:53:36 PM

I use BTC/BUSD trading more often, sometimes I change it depending on the market situation. The good thing about using stable coins is safer than using volatile coins as a trading pair to BTC.
Using Bitcoin alone is profitable but sometimes it makes you bored and while waiting for the place order to get filled, you can do a trade to other coin/s. If you have a huge capital, it is much better to use 2-3 coins for trading where you can really maximize your time when you are at your computer. That is exactly how we wisely spend our time.

That is the pair I use to trade on Binance, BTC/USD 6hour chart, This enables me to have few time for analysis before taking a trade, BTC/stable coin is very stable when the price is bullish or bearish I don't subscribe to trading other altcoins/stable coin, my belief is that the volume of BTC/BUSD traded daily is huge thus it price volatility and momentum tends to move steadily except if there is an underlying fundamental news that could make or mar it price movement rapidly, taking two, three or four trades weekly isn't a bad idea.

I am not entirely sure if that's correct. The part about altcoins being too volatile is the correct part I will give you that but when you are talking about "stability" that doesn't exist in the crypto world, it usually is stable compared to altcoins of course but then when you compare it to other things it becomes something totally more volatile than anything you have ever seen.

This is why I believe it is not really the same thing. You want to see stability? Go check out gold and you will see stability there, however in the crypto world you are not going to see stability. Furthermore if you mean to say that it is stable compared to just altcoins then there are top coins that are not that volatile neither, ethereum to begin with, it had about the same volatility as bitcoin during this period so I am not sure if it applies to eth at all.

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Quote from: Rajamuda on July 04, 2021, 09:58:01 AM

In this case, Btc is still worth it to trade but better yet we make bitcoin a long term investment, because most people prefer to invest in the long term I guess, however back again to each of us because our basics may respond differently to this related to the price movements that occur.

Yeah its worth to trade since the movement of it still profitable especially if we do short term trades. But actually not all can prefer to hold for long term due to money issue but honestly I believe that holding it for many long years will give a greater result since if we just there for few months provably we cannot earn big on that and this is not ideal if you are looking at it as your good option.

Rajamuda

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In this case, Btc is still worth it to trade but better yet we make bitcoin a long term investment, because most people prefer to invest in the long term I guess, however back again to each of us because our basics may respond differently to this related to the price movements that occur.

ILuckyGuyI

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Quote from: Lorence.xD on July 04, 2021, 01:36:56 AM

Quote from: ILuckyGuyI on July 03, 2021, 03:42:44 PM

I'm not sure whether day trading with Bitcoin is the best. I see some people who I know are day trading with stablecoins like Tether (USDT). And they say that they make a good daily profit if they make the investment with a big amount.

Depends on your experience and knowledge if daytrading can help you make a lot of money, a lot of my friends are trading with USDT too and they seem to be doing well with it. Maybe if you were to choose the right coins to trade with daytrading, it will become profitable.

I've mostly preferred HODLing until this time. Sometimes I've made short-term investments also. But I've made the biggest profit thanks to HODLing. I've never tried day trading so far. But it seems like I'll give it a try also. Grin

But I should be able to allocate more time for it first.

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Quote from: Hypnosis00 on June 30, 2021, 05:53:36 PM

I use BTC/BUSD trading more often, sometimes I change it depending on the market situation. The good thing about using stable coins is safer than using volatile coins as a trading pair to BTC.
Using Bitcoin alone is profitable but sometimes it makes you bored and while waiting for the place order to get filled, you can do a trade to other coin/s. If you have a huge capital, it is much better to use 2-3 coins for trading where you can really maximize your time when you are at your computer. That is exactly how we wisely spend our time.

That is the pair I use to trade on Binance, BTC/USD 6hour chart, This enables me to have few time for analysis before taking a trade, BTC/stable coin is very stable when the price is bullish or bearish I don't subscribe to trading other altcoins/stable coin, my belief is that the volume of BTC/BUSD traded daily is huge thus it price volatility and momentum tends to move steadily except if there is an underlying fundamental news that could make or mar it price movement rapidly, taking two, three or four trades weekly isn't a bad idea.

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Quote from: ILuckyGuyI on July 03, 2021, 03:42:44 PM

I'm not sure whether day trading with Bitcoin is the best. I see some people who I know are day trading with stablecoins like Tether (USDT). And they say that they make a good daily profit if they make the investment with a big amount.

Depends on your experience and knowledge if daytrading can help you make a lot of money, a lot of my friends are trading with USDT too and they seem to be doing well with it. Maybe if you were to choose the right coins to trade with daytrading, it will become profitable.

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Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

This can be a good idea if you know how to timing and seriously, we all have different strategy in trading and if you really believe on this one go for it. Personally, if it’s trading I’d rather choose more options and look for altcoins because I just hold Bitcoin and with the altcoins that are more volatile, I can have good profit with trading altcoins than trading with Bitcoin.

ILuckyGuyI

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I'm not sure whether day trading with Bitcoin is the best. I see some people who I know are day trading with stablecoins like Tether (USDT). And they say that they make a good daily profit if they make the investment with a big amount.

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