Hello steemians,
Trading is a zero sum game where each win is paid by someone loss.
In fact sum game is slightly negative if we take in account exchanges transactions fees.
We experienced huge volatility last few days, traders and algorythms enjoy it because this is when they usually win the most but most investors don't really feel confortable.
If you took it very emotionally you should cool down and relax, think long term.
As BTC and crypto assets are a do or fail technology with very high potential or very low achievment, short term really doesn't matter so much.
Basically when we buy cryptos we have a winning lotto ticket or we hold toilet paper.
So relax, we took a bet, we just have to stick with it.
Traders and short terms speculators don't really care about fundamentals, they choose assets with high speculation factor, enought volatility and liquidity to play with.
They know how to exploit your emotions against you.
Best way to loose our precious coins would be to play with them.
If you don't want to gamble against experiencied traders and the best algorythm in the world just hold you coins. Each one of them could valu a lot of money one day.
You will probably save emotionnals troubles, time, energy and probably money if you don't gamble with them.
If you want to battle against the market, push yourself to the limit, have a competitive mindset, ice cold nerve then trading is for you!
Don't forget that almost 80% of traders don't beat the market!
For short term price addicts.
What could we expect short term for bitcoin price?
2 mains scenarios:
Bear scenario we are at the beginning of a long bear trend as 2013:
Bull scenario Waves 4 is almost over and we go to new high with wave 5:
Noise can relax us as sweet music or becomes nerve breaker as dentist strawberry.
Don't listen to short term price noise unless you want to challenge yourself and leverage your money in dangerous water.
Enjoy your day!
Links:
https://en.wikipedia.org/wiki/Zero-sum_game
https://www.curiousgnu.com/day-trading
https://www.tradingview.com/chart/GBPAUD/pAE6x4Hx-Elliott-Wave-Analysis-BTCUSD-Can-Be-Trading-In-Final-Wave-Five/
https://news.rpi.edu/luwakkey/2902
trading is fun with lots of dough!
I was also in confusion about to sold or hold...but some of expert Steemians suggest me to hold.. Great post..really needed. for me ...upvoted & followed
Trading is like gambling, it is addictive.
very true :)
sad but true
so if you aren't an expert - you'll be food to the sharks or freeze - that still loses
Great post. Trading is not for everyone, you are gambling in the game of all games :). But if you want to push your limits, you can try. Warning : you will probably lose.
My philosophy- buy when market is bleeding and sell when market is greedy
Not all the time! No one is losing in a growing market. Etherium grow from $12 to $330. Who lost his money?
Trust me some people lost it all, for exemple yesteday during the long squizze on Gdax. I know some people that have been crushed with short positions on last dash surge earlier this year and for sure it happened aswell on ETH for some traders...
In average oviously most of traders win money in bull run.
The timeframe of the loop is longer, we only know if we are a wining trader once we survive to a long bear cycle or black swan event.
"Oldest crypto traders already survive to such events, new one don't even imagine what could really happen, risk management is everything.
Can't stop, won't stop!
HAHA BOSS!
Disclaimer: I am just a bot trying to be helpful.
Really intresting post.
I don't like short term's.
Buying, keeping long time, selling = trading for me.
Hello my friend Currently the prices are low on what I think I am in a correction phase and will only rise again
Hello my friend
I hope to get the support of your vote here this is an honor
https://steemit.com/space/@mars9/how-the-stars-are-born-and-how-you-die
Very true, thanks for sharing I agree if you are emotional its best to not to day trade
Great informative post on trading. This surely gonna help me with good pointers.
I am also looking for a complete guide for dummies on trading. Could anyone help me with that? :D
It take months to learn and years to master, no strategy works forever you have to learn and adapt non stop.
You can discover the basics here:
http://www.investopedia.com/university/technical/
Very good analisys! We shoud bye noe and wait 15 days to one month. Then, will see about that!
Trading is risky but well worth it. Looking forward to putting some of my money on trading...
Enjoy the ride.
This is the real true. Thank you for this article!
That explains a lot and I'm very new to this, as Im learning about coins, I'm not confident yet in trading! :) but this was really helpful to learn more about it all! its a whole new world!
Happy to serve you. Take time to feel confortable trading. Use only a small portion of you portofolio, slowly learn what trading indicators are useful and askquestions to successful traders.
Best way to learn about coin is to understand how it work and dig for valuable informations not expectations.
Difficult to not be manipulated in crypto sphere, speculation factor is so high, fact are better to look at.
A interesting books to begin with :The Honest Guide to Candlestick Patterns by Llewelyn James
One thing to keep in mind is that both parties enter the trade willingly.
Trading can defintely become addictive if you can't separate your personal emotions...I think that with the price rise in cryptos, more traders will focus more on investing and holding...As the value to hold becomes more attractive & profitable...Great post @damarth!
good post...
Really useful insights. I'm not much of a trader, believe I tried. Since Im hodling I started to make money.
I know it sucks that some are on the losing side but let's be honest, this is one of the rare occupations where you alone are your master and commander.
If you win, or lose, you alone are responsible!
It is a very welcome sense of freedom!
I started with just 400$ in 2014
(playing "YFN Lucci - Everyday We Lit")
wife was trying to Bata male shame me just yesterday.. "O' so your the new bill gates or a major CEO now?" Might leave her and marry Crypto.
I been trading for years now and its been a roller coaster of a ride, how has it been for you?
bear market + exchanges hack + bull run, big roller coaster as you, i guess we could write a book next few years.
Hopefully, How did i survivre to crypto market would be the tittle :)
I have read a few books on ppls lives trading and investing and a lot of them struggled but years later got a very good rhythm. They all said something similar to hitting a huge mega win 2 - 3 times.
great post (y)