Using BTC only for Trading? | Bitcointalksearch.org

wxa7115

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Bitcoin is GOD

Quote from: romero121 on July 27, 2021, 03:20:21 PM

Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

This is something that will eventually happen, a great deal of people are interested in earning money whether this is through trading or by holding their coins, and who can blame them when we see that bitcoin can grow so spectacularly in value in just a few months, so many people want the same to happen to them and they are not really using bitcoin is a currency but just as a way to make money.

However I really think that once bitcoin hits a certain level of adoption the amount of people that are going to want to trade it is going to diminish as they are going to think that bitcoin has reached something close to its maximum value and that is when we're going to see people using it as a currency.

Sir Legend

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Quote from: romero121 on July 27, 2021, 03:20:21 PM

Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

It must be admitted that the thinking of most people who hear bitcoin is for illegal activities such as terrorist fees, money laundering and many more. This is what makes bitcoin at that time like a roller coaster, the presence of a trading platform makes the need for bitcoin continues to increase so it looks stable than in the past.

romero121

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Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

wxa7115

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Bitcoin is GOD

Quote from: Distinctin on July 23, 2021, 06:43:43 PM

Quote from: Hippocrypto on July 18, 2021, 05:55:46 PM

That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

Well, we also have to think that trading is riskier than just invest and hold. Many had come and lost later because of making the wrong choice of coins in trading. But even we have chosen Bitcoin or altcoins, timing will also matter a lot and this could never be ignored as this was one reason for our failures. TA and FA are very important in this place, we can just set this aside as these were the tools to help us recognize what is a certain coin to trade.

We must remember that bitcoin is a currency and it can be used for whatever we want, if there are some people out there that want to use bitcoin as nothing more but a way to obtain profits when they trade then they are within their rights to do so.

But to me this is extremely shortsighted, bitcoin can do a lot more than that as bitcoin can be used to buy almost anything now and this tendency will only increase as governments begin to lose control over the economy due to all the money they have been printing recently due to the pandemic.

GeorgeJohn

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I have over had that cryptocurrency especially bitcoin that trading bitcoin only that the disadvantages is higher than the advantages via trading, but people are only emphasising on alternative coin trading, but in my views is equivalent to bitcoin trading, such altcoins are ethereum, litecoin, BNB, USDT, Doge's and other numerous coin to be mention, myself i prefer buying and selling or holding in such a way that even though it wil lead to this advantages part of cryptocurrency, which is degradation in price.

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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 are ready for what will happen then why not?

Example you are trading 10,000$ in bitcoin but suddenly the value drops badly and High , Are you willing to Sell at losses or can carry to Keep holding?

Quote

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

No it is not , Bitcoin cannot even Climb 10% in 1 day,most of the time so what more we can get from the fee Exchange will charge if we are daytrading? when the increase each day can only be 3%?

Xinarae*

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It is up to the individual to decide where to trade there is a risk if you have little idea about trading in many new currency markets, there is no guarantee that they will rise that's why bitcoin is good for trading. There is no fear of losing this currency long term retention is very profitable I just love bitcoin and the whales in the market don't really last long.

Distinctin

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Quote from: Hippocrypto on July 18, 2021, 05:55:46 PM

That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

Well, we also have to think that trading is riskier than just invest and hold. Many had come and lost later because of making the wrong choice of coins in trading. But even we have chosen Bitcoin or altcoins, timing will also matter a lot and this could never be ignored as this was one reason for our failures. TA and FA are very important in this place, we can just set this aside as these were the tools to help us recognize what is a certain coin to trade.

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Quote from: Fatunad on July 20, 2021, 04:45:50 PM

Quote from: BuNga_cute on July 20, 2021, 06:37:00 AM

Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

~

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

These things are only a bit looking interesting or still plausible into those golden days of crypto which is on the year 2017 when everything is hyping up and those pumps and dumps are still
existing as of todays but it would really be not worth for your time and effort and of course with your money.Bitcoin isnt only used for trading but of course for long term hodling.
It is just on personal choice whether you do hold or actively trade and this is here profit do really differs on each person depending on their vies about bitcoin.
You wouldnt able to find out if you wont try.

I also feel what happened in 2017, where almost all coins experienced hype. So when it was very profitable short-term trading in some new projects.
But right now the number of new projects whose prices can go up very high is very few, so I agree for now it's not really worth trading in
new projects. It's better to focus on trading some coins that do have good potential, and Bitcoin is very suitable for trading. But interestingly
Bitcoin not only be used for trading, but Bitcoin is also good as a store of value. Which is very profitable holding Bitcoin in the long term,
if we really see the Bitcoin trend that continues to increase in price. Sometimes I also use Bitcoin to send money to my friends and family
who are overseas, because the process is fast and costs are cheaper than using fiat through a bank.

Fatunad

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Quote from: BuNga_cute on July 20, 2021, 06:37:00 AM

Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

These things are only a bit looking interesting or still plausible into those golden days of crypto which is on the year 2017 when everything is hyping up and those pumps and dumps are still
existing as of todays but it would really be not worth for your time and effort and of course with your money.Bitcoin isnt only used for trading but of course for long term hodling.
It is just on personal choice whether you do hold or actively trade and this is here profit do really differs on each person depending on their vies about bitcoin.
You wouldnt able to find out if you wont try.

BuNga_cute

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Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

Hippocrypto

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That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

STT

legendary

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Trading in and out of alt coins acts like a form of leverage and it best works when BTC is positive or recently has seen alot of monetary velocity. Otherwise the simplest thing is to stick to BTC for trading I think as you dont run as large a risk of gains being wiped out by the larger contraction in the crypto monetary base. For anything alternate to BTC to gain while BTC is losing ground is a hard task, that makes trading much harder also.

wxa7115

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Bitcoin is GOD

Quote from: Sled on July 13, 2021, 09:07:27 AM

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.

You need to be careful with new coins as it is true that you can make more profits with those coins but at the same time since their volume is so small then this means that a whale can manipulate the market as they want and it is going to be impossible for you to predict those kind of movements.

Another possibility is that a pump and dump group gets interested in the coin in which you are trading and as such this also could make the price to go against what you expect of the market and make you lose a lot of money in just a few minutes or hours.

lablab03

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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?

For me yes its a good decision, especially if you see bitcoin is in a trend because surely you can make good return from it afterwards . And its very safe trading as well with stable coin, as the matter of fact most trader actually rely in it just to protect their profits from the volatility, unlike pairing with another coins because very skeptic. So if you want to trade then pair it with stable coin at least your money is in a safe place..

erep

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Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

traderethereum

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Quote from: Boov on July 14, 2021, 02:58:50 PM

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 just don't think so, unless you're doing it with an alternative trading on other coins aside from btc. You can't rely all alone with bitcoin because we need to divert on other coins due to downfalls of btc. Many had the expectations that btc will rapidly increase double from current price, but the long waits has not yet to come.

It will have a chance to increase double from the current price but that will not happen rapidly because I guess we can see this situation for some time, maybe it can happen for more than 1-2 months later.
We can select what we want to use, whether bitcoin or altcoin, to trade because we need to find what coin can make us feel is not too hard to make a profit.
But we need to consider that trading will not be easy when the bear market comes like today and we need to find another way to make a profit.
I think it is our benefit to have so many coins besides bitcoin because that can help us to have a chance to make a profit when bitcoin price moves are not good. But yes, the altcoin will get the impact from the bitcoin price.

BuNga_cute

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Quote from: Sled on July 13, 2021, 09:07:27 AM

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.

For now, if we want to make a profit from Bitcoin, it is better long-term investment, because the movement of Bitcoin in the market is now too
stable to be able to generate large profits. If we want to make big profits, we can try short-term trading on new projects, but the problem is
that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes
down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

Boov

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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 just don't think so, unless you're doing it with an alternative trading on other coins aside from btc. You can't rely all alone with bitcoin because we need to divert on other coins due to downfalls of btc. Many had the expectations that btc will rapidly increase double from current price, but the long waits has not yet to come.

Questat

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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

yes of course, unless if you got emotionally stress when the market drastically dumps and do sell all your Bitcoin.
Bitcoin trading volume huge and has a high volatility rate where it is good for trading. If you can go along with the trend by simply do the buy at low and sell at high, you're certainly in profit.
We should also remember that it cannot be all the time the market is good, well, losing is not a thing to be afraid of as it was a part of our trading life.

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

legendary

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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.

Rengga Jati

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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.

rhodelmabanal

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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.

GeorgeJohn

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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.

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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.

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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.

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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.

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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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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

You can be profitable if you just trade bitcoin against other coins, in fact this is something that many traders do, there is jut one problem, it seems you want to be a day trader and I will be honest with you day trading is by far the hardest way to trade the markets, so my question is have you tried to trade bitcoin on longer time frames and have you been successful doing it?

If the answer to that is no whether because you have not tried it or because you have failed to become profitable then you need stop and take your time before you try day trading, day trading is only for those that know the market inside out and they can apply their strategy in a blink of an eye, if you do not have that then you will become a loser relatively quickly if you try to day trade.

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I said only whales can do it through BTC because they play more btc than other traders, honestly I can't do that even though it can be said to be low risk because with stablecoins and for me with some altcoins what I do can bring me receive more rewards like Shiba INU which yesterday took advantage of it, so not only btc but altcoins also play a role so I don't think about risks because everything has a risk.

Many traders are afraid of altcoins because large disposals in an instant have no value at all, I think this is a big risk but what can I believe with some of the altcoins above can provide great rewards with low capitalists but once pumped into further profits his.

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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

I prefer trading altcoins that really has a real project not like those memecoins or dog-related coins where it is only driven by hype. Trading good altcoins like bnb, eth, ada, matic, etc. will give you more profit compare to trading bitcoin. Altcoin's potential to double in short-term is easy to achieve, just look at bnb at the start of this year. If you can only afford to have a small capital, trading altcoins is alot better than bitcoin. If you trade bitcoin, you won't feel your profit if your capital is not thst big.

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I'm using BTC and Stablecoin, such like USDT & BUSD. Buy some promising altcoin with those coins whatever which lower. If the price crash on bitcoin, i will use bitcoin, but if bitcoin crash, i will use stablecoin. It's simple as that

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BTC/Stablecoin indeed. If your sell position isn't filled, you can always look at the chart to see if the price had reached its peak and decide to sell. If it's yet not, you hold them as your next option. Holding while the price dips below your buy price is stressful. This is why I want to sell as much as possible as long as I can take profit and know there is a higher chance of dips later, I can adjust the selling price.

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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.

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Only by trading Bitcoin can people be successful and have many advantages, it depends on how to trade, conduct price analysis and trade with discipline. BTC is the most valuable coin right now, holding bitcoin has more potential than holding altcoins like shiba inu, which have a higher risk of losing value quickly. Bitcoin is the main reference for the price of other altcoins. So just trading using BTC and stablecoins, it is enough to make one successful and earn a lot of profit.

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If you read meaningless reddit posts about Shibu, please ignore them. Shibu is really high risk - high reward coin, it gained 30 000% since it's launch but in reality, I think these coins have zero value and are driven for no reason like Dogecoin.

In bitcoin trading, if you want to increase your profits, you can use Futures trading and use more than 1x leverage. For example, if you use 10x leverage and bitcoin increased in price by 1%, then you'll profit will be 10% of your capital instead of one but keep in mind that 1% decline means 10% loss too.

You can also use leveraged tokens trading for lower risk compared to futures trading (I mean liquidation).

There are also some altcoins that increase 2x, 3x and even more when bitcoin rises, for example let's take BNB and Matic (they depend on Ethereum's price but in overall, Eth follows BTC too). BNB is a great for low risk - high reward because the CEO does everything to make this coin top, so, great back!
And Matic, just see the charts, this coin is doing unbelievably well.

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Every trading strategy has its potential to grow and if you think that this suits your way, you're likely to get a success from it. What you have to do is get to know what you're doing.

And if you're already good with btc/stable coins pairs and if you're focusing on it for the meantime. That's fine, as long as you're executing your trades properly, that's all that matters.

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Trading and holding, I am doing both. To be honest, Bitcoin using mostly for trading. We can't ignore that truth although Bitcoin was created as a peer-to-peer decentralized cryptocurrency. For me, I don't trust any altcoin for holding a long time. Because I learned from my past mistakes. An altcoin is just for trading, if you are a good trader then you may increase your portfolio by trading Bitcoin with alts or stable coins. If you are increasing BTC or holding it, means it will be the same forever. Doesn't matter in USD value. But holding altcoin means you would lose everything. Even Bitcoin recover quickly, some altcoins never would be recover.

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Quote from: Kong Hey Pakboy on June 30, 2021, 08:27:38 AM

Quote from: Yogee on June 30, 2021, 07:51:49 AM

The advantage of trading BTC only is the fact that it's less manipulated by pumps and dumps since it has the highest trading volume.

Are you for real? Bitcoin not being manipulated that much? I don't think so, let me give you some example: Elon Musk tweets, whales making waves, and China FUD are some that I can think of in terms of manipulating the prices.

It's either you have a poor reading comprehension or you are ignorant of manipulations done on coins or tokens with small trading volume. I said "less manipulated by pumps and dumps" and I even mentioned the reason why. Comment again if you still do not understand that.

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I think it's more fitting than having to use btc for payment, because bitcoin is very unstable as a means of payment, I think that's also the reason the government banned it at this time, but thanks to the strong bitcoin community, btc is perfect for investment.

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Quote from: crwth on June 30, 2021, 12:02:46 PM

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

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?

Be careful in trading meme coins. You can easily lose more than half of your capital if you have traded the wrong timing.

Right! These meme coins out there don't have any use case, traders will eventually sell once they reach their profit goals
Then it will be dumped and become less valuable, with a low chance of climbing back.

I still preferred getting out of our comfort zone; try risking small for a day trade on other coins.
Widen your connections. Some traders out there share some great insights.

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In my opinion trading is the only option where we can generate profit no matter marker going up or not. Now you may Ask how much people can generate profit like that. We always give a simple answer like expert traders. Now here is the best point we know that no one becomes expert traders in a day or he/she can't get expertism from there mother baby bump. So then what is answer if you ask those expert traders about there journey then you will get a simple answer only lose amout now made me expert traders today. Yes in everyone’s journey always a tough journey if the person can overcome with those bad time and follow his strategy then its a gurantee he will get his goal. He can be get a experienced experts crown. Thank you.

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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?

I believe you should ask yourself first what you want to accumulate before anything else. Is it USDC or BTC? Or are you just going to hedge every time the price is going a different way?

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

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.

That's what some traders are doing. They are putting their way with pairs that they don't mind holding for the long term. They don't care about short-term paper losses, they only care about what's going to happen in the long run.

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

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?

Be careful in trading meme coins. You can easily lose more than half of your capital if you have traded the wrong timing.

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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

Trading bitcoin is a lot more safer and also a lot more profitable than any other altcoin, altcoins seems to be easily manipulated yet people constatnly try to trade them in hopes of making good profit to the fact that the prices are a lot more cheaper but with that the prices can get affected really easily, but with bitcoin even if a couple of people with a large amount sell it won't affect it that much, bitcoin is high investment high profit trade.

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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

It depends on how you describe that success because if you focus on making money, it could be possible to make money from bitcoin trading.
Besides that, it will depend on how much money you use for trade because if you use bigger money to trade, you can make a big profit for daily trading, but that will depend on how good your skills.
The altcoin can help you make a profit besides bitcoin, but you need to search for more by analyzing to get the right coin.
If you only focus on bitcoin, I think that is enough to make a profit and make money.
You should choose for yourself.

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Trading solely bitcoin is low risk low reward (in contrast to the whole cryptocurrency space, of course). Trading altcoins, especially low-cap altcoins like Shiba Inu(like you said) is high risk high reward. Which type of risk:reward trades you should go for will totally depend on you.

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When I did trade, I traded certain altcoins vs Bitcoin, back and forth.
But @Yogee is right. Altcoins, especially those with lower volumes, can be (and are) much more manipulated than Bitcoin markets.
Also if something exceptionally good or bad happens on Bitcoin market, it's reflected automatically in the altcoins too, so if you trade altcoins vs dollar/stablecoins it may be even more complicated.

However, my advise is to trade the coins you know, those you are familiar with the development and whatever happens now in "their world", else you may get (easily) surprised by the price movements.

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Quote from: Yogee on June 30, 2021, 07:51:49 AM

The advantage of trading BTC only is the fact that it's less manipulated by pumps and dumps since it has the highest trading volume.

Are you for real? Bitcoin not being manipulated that much? I don't think so, let me give you some example: Elon Musk tweets, whales making waves, and China FUD are some that I can think of in terms of manipulating the prices. To OP, this should be moved to Trading Discussion, at the lower left of this thread you can see "Move Topic", you can click it and there you can choose where you want to move it.

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

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

The advantage of trading BTC only is the fact that it's less manipulated by pumps and dumps since it has the highest trading volume. I wouldn't say you'll become a more successful trader with BTC/stable coin pairs because that still depends on your ability or trading strategy. You'll probably do better in the long term than trading other coins or tokens that are more speculative.

Another thing you should consider is the flow of money in each market cycle. We have a so called altcoin season where most alts would bring higher yield than BTC.

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The Quest of the Best Information to the Solution

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

Topic: Using BTC only for Trading? (Read 554 times)