Anyone tried their hand at trading bitcoin?

[Smack dat]

Man, this shit is hard.

[pimpmaster9000]

you have to understand that trading, especially day trading, is one of the hardest things in the world...

it is not like poker where you have tables where the chip is 1$ and tables where the chip is $1000...on the 1$ table you will encounter novice players and you will have a nice game...on the $1000 table you will encounter pro players who will rip you a new asshole...

there are no such "levels" in trading stocks/crypto/etc...you are in the same arena with the best and brightest people in the world and they have the knowledge/information/money that you will never even come close to...

want to do stocks/crypto?

either:

1) invest long term...ups and downs do not interest you...it is just noise...wait for 10 years for the value to 10x and then sell when it is "up"

or

2) be prepared to invest substantial time and money so that you can pick up the crumbs that much much better people than you leave behind...it will NOT be easy...low hanging fruit is far and few between and you will have to concentrate more on managing risk than actually making money...

[adultchatpay]

Day trading is very difficult. I tried it once, end up losing at the end of the day. I was literally watching the candle chart go up and down. And hit trade when i think it hits the highest. And buy when it think it's the lowest.
There is money in it though.

Always consider the fees, read what are "hot or not" cryptos.
Start small and play with it.

[ilnjscb]

No one can hold a winning position
No one can sell a losing position
No one accounts for spread

[Paul&John]

Tried it, failed at it lol

[Smack dat]

I thought I had it figured out. I mean, how hard can it be? Buy low sell high.

I spent hours watching the charts biding my time before placing a sell at 10x

Thought I would be fine 800 breathing space but no. It dropped 1000 in 24 hours.

Then tried a bit of 100x trying to recoup with tiny amounts and actually did ok. Mainly because I watching it like a hawk with my finger on the button.
Eventually ended up panicking and losing again.

Thought I would try one last time. Places another buy order at a 7 day low figuring there is no fucking way it can drop again. It did.

I ended up selling before liguidation but I was already 60% down.

Fuck this. It's too hard to predict. Maybe I will try again in a bull market.

[pimpmaster9000]

Originally Posted by Smack dat

I thought I had it figured out. I mean, how hard can it be? Buy low sell high.

I spent hours watching the charts biding my time before placing a sell at 10x

Thought I would be fine 800 breathing space but no. It dropped 1000 in 24 hours.

Then tried a bit of 100x trying to recoup with tiny amounts and actually did ok. Mainly because I watching it like a hawk with my finger on the button.
Eventually ended up panicking and losing again.

Thought I would try one last time. Places another buy order at a 7 day low figuring there is no fucking way it can drop again. It did.

I ended up selling before liguidation but I was already 60% down.

Fuck this. It's too hard to predict. Maybe I will try again in a bull market.

this is not trading this is gambling...you will lose your money every time like this...exchangers make a killing from margin accounts like yours...the more leverage the easier it is to manipulate and wipe out the margins with a quick dip/flash...

buy low/sell high works if you understand that a consistent 1%/day is worth much more than an inconsistent 10%/day...you must think like a risk manager and not like a lambo buyer...1%/day is MASSIVE...but it WILL cost you time and money until you learn to discipline yourself and follow the market...

I just missed a 5% flash pump on binance...I was away from the computer and it already started pumping like crazy and it was a bit risky so I walked away...no problem...yesterday I made 2% with cardano I consider this a good day...

forget margin...build your castle brick by brick...patience is key...forget instant lambos it will not happen...

[ghjghj]

Originally Posted by crucifissio

I just missed a 5% flash pump on binance...

Real men trade on Russian exchange



got bot?

[kjs]

Originally Posted by ghjghj

Real men trade on Russian exchange



got bot?

You missed a column called "profit". Until then you're just showing market data.

[rogueteens]

I'm still smarting at not selling my ripple at the right time, I saw it at its high point and almost sold but I was incredibly tired and decided to go to bed and wait till the morning - yup, it crashed overnight so I'm still holding on with them.