So yo now know your favorite coin is going to go up. WOW.. I like these channel!!! I wish I could say the same about my fav. coin but I can't. That's way my channel sucks. You got to believe people. !!
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Mathematically you make a lot more profit if you sell when the price falls instead of holiding the coin.
Imagine you bought a coin at 100 it then goes down to 50 and later up to 150.
If you hold it you make a 50 $ profit.
Instead if you sell let's say at 75 you monetize a loss of 25 $, but if
you buy it back at 50 and it goes to 150 you made a profit 75 $.
Even if you miss the low pont and rebuy at 60 you still earn more than if you never sold the coin while the price was dropping.
Thank you so much. Something finally clicked. I was thinking WAY too hard about it trying to balance fiat value with BTC. When dealing with alts ALL that matters is BTC value (or whatever your trade pair is) fiat value only matters when you're ready to cash out some profits.
So basically you're saying to "value invest" into the cryptocurrency world: find a coin you believe in and that has some inherent value, i.e. it actually has a practical benefit other than the prospect of it rising. In that respect it is exactly the same as investing in the share market.
Sorry buddy, you do not choose whether you want to trade to grow $ , BTC or Alts and just 'pick one'; you will continue to make mistakes if you do anything other than aim to grow BTC value even if you only own Alts.
Diversify across exchanges to mitigate risk, 2 exchanges will not die or get shut down in one day.
Don't buy coins you believe in as that is like choosing a football team to support; chose coins with a strong development team, preferably non-centralized, mineable, with a low total supply and that has some compelling strength or feature like Binary BlockChain or advanced Privacy. Learn from people who know a lot, instead of people paid by Ripple etc. Learn to spot FUD and how to ignore your FOMO compulsions ......... or learn it all here for free https://www.facebook.com/groups/139208370017763/
Good luck and hope your misatkes are behind you. I been in Crypto since 2010 and yet I managed to lose $128k in a morning + part of an evening last year on a bad NEO bumsteer which gave me anxiety and led onto another costly bullchase for BTrash.......learned my lesson, again, but made the money back in mere days.......or like you said, just hodl and this relentless bull market will still make us look like we ain't idiots lol
Don't fear buy on the way up and fear sell on the way down or fear sell when there's not much volatility. Don't fear trade because you've got too much of one crypto on arbitrage trades. Yes we want more dollars. Don't fear exchanges. How often does a hack happen really? There's a bigger risk of someone taking a quick pic of your wallet key.
if you trade with cash you are willing to lose, You definitely lose all that money. Trading is taking the bull by the horn, because very body knows it is risky but it is also very profitable, DICES I GUESS
yah welcome to world of tradign dumbass. EIther u want to hold a share or u wanna make a trade off of the price change in the share. It is no more diff in crypto OR Forex. u ARE DUMB. U are relaly really dumb
I appreciate all the YouTubers who are sharing experiences about mistakes made in the crypto world. It’s one of the main sources I use to keep myself accountable regarding safety/security, being informed and being just plain wise in my decision-making, rather than impulsive.
At 3:43 minutes: Your fear is substantiated and correct is that crypto is not a tangible currency and neither is it regulated. One is cognizant that computers crash, causing consternation and crypto confusion.
I believe that one should trade some or most of this back to the U. S. dollar when he feels satisfied with his gain. The market may retrace and there will be another opportunity to re-enter. If one's timing and entry-level is sound, this should not mess with one's mind. And this is a good idea, for unforseen circumstances may befall us. One may be out of the market during this, which is good news.
Be aware that every time you sell your crypto and then turn around and reinvest that money to buy more when the price drops, you are still responsible for paying the taxes on any gain you realized from the sale. Make sure you have money on hand come tax time or be prepared to sell some of your crypto.
These coins are all going to zero. Blockchain is not sustainable for commerce, way too much energy and too slow. Plus, getting in on these trades you get real shitty prices that are far from spot. Suckers game, if you got lucky get out before you start losing.
really sound advice, though i think you have to experience these to have the fear and complacency opposite to human nature put into you. i've been told these things from traders for years, yet i will probably continue making them to some extent.
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LOL this is the most ridiculous thing I've watched. The logic for trading is the exact same. There's NO difference. You always want more shares (coins). But you also want the highest prices. It's funny listening to all crypto-investors jumping into the market thinking they found out something the rest of us didn't know.
It also explains the extreme volatility of the crypto market. Most are inexperienced investors and think that this industry is somehow different than any other business of the last 100years. It's also making way too many dumbasses rich which then turns the market volatile because you have millionaires who have no trading experience (except for buying BTC/ETH/LTC back in the day) and now they're buying other smaller cryptos thinking they will exponentiate their million dollars again. This guy's talking about "fundamentals" and stuff...yet bitcoin has almost no fundamentals because it's track record shows that it's growth makes almost no sense. Considering you still can't use BTC at most stores. They should be happy they aren't a stock or they would've busted years ago. The shorts would've ran them dry. That's why shorts are a good thing also....they reveal the truth behind alot of scam-companies. Crypto doesn't have that so you're relying 100% on the news. Which also doesn't help because then when they decide a small up-and-coming crypto is a "scam" the news drives their price down with no real validation of that being the case. IOTA is a prime example of this....because the media keeps trying to drive the idea that they should fail...yet they are the most advanced crypto currency of all. Their prices should be right up there with ETH
AshtrayAnnie Yes, it is quite amusing to hear so many trading novices have "deep" insights. All the talk of trading on margin for assets moving 30% up or down on any given day is painful to listen to given some inexperienced people will heed that advice.
Question for the long hold method? At some point it will become brutally obvious to even the newest crypto trader that Bitcoin is completely doomed as a usable currency and a few tens of billion of dollars is going to shift into the next few most stable high priced coins and they have to go up, no? LTC ETH BCH XRP etc.
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With all due respect I think it's important to make the distinction between trading and investing. first of all in this market or any Market, you should only use funds that you can absolutely afford to lose 100% of. If you are investing for the long-term there is absolutely no reason you should sell. While I'm sure some of the coins have underperformed or went to 0 or whatever, try and understand that you are in the middle of a euphoric bull market on an emerging technology. You do not need skill to make money in this market. This is a buy-and-hold market, or at least it was. We are entering into the phase where it is becoming far more public and that's when you know something is on its last leg up, at least for a while. For me personally I am not in it for trading it, but holding long-term through the volatility until the big market cap comes into it. I'm happy to say that I am super lucky to be holding Bitcoin for $430. Even though it's only one LOL. The fact that Bitcoin has made its way into the mainstream media now has me looking to possibly sell into any further run up above the 20,000 level, but price action may change my mind. And how best of luck to you
When you day trade, do we need to store the cryptocurrency in a wallet. If you keeping money in a exchange and Daily you trade. When we sleep should we transfer our cryptocurrency from exchange to a wallet while we sleep.
How to become bitcoin trader? Exactly like Bitcoin, multiple digital currencies exist in the marketplace. So if you prefer to buy a few other currencies which aren`t available on Indian Exchange than you can utilize Bittrex. All you have to do is locate an exchange that you favor. Cryptocurrency exchanges have a massive potential to modify peoples minds and opinions concerning cryptocurrencies generally speaking and their application in actual life. So even in the event the exchange is attacked, its still true that you have your money. Furthermore, the exchanges prepare each and every industry for Bitcoin expansion. Existing stock exchanges will also compete to be able to fulfill the users configuration requirements. Sooner or later later on, the prices will grow more equal, meeting somewhere in the middleyour profit is equivalent to the quantity of convergence. No matter how far it is from Kijun, it is likely to return and test that level at some point. The amount of bitcoin is perpetually changing. In the US, it is 1000 USD. Whats even better, seek the services of a seasoned lawyer or at least ask for an in depth consultation. So youve read the newspaper about the meteoric growth of crypto currencies including Bitcoin or Ripple. Then coming up with 1000s of exchange rates simply to go out and get groceries is nearly impossible. Many cities around the world provide a bitcoin ATM where you are able to trade cash for bitcoin. The cryptocurrency world isn`t efficient.