A lot of folks underestimate how risky trading really is until they start losing and get hooked on it. Some people have been aware of bitcoin for years but still find themselves in a tough spot. It’s not that they didn’t have capital before, it’s just that they keep trading. They’re chasing quick profits and end up losing repeatedly.
Honestly, sometimes it’s smarter to just hold when bitcoin dips instead of jumping into trades. But the lure of fast cash is hard to resist. You might make some profits trading, but then lose a chunk of it. Trading only works for those who can come out ahead. If you’ve been losing for months, maybe it’s time to take a break. When bitcoin drops, consider buying and holding instead.
How long have you been trading?
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To be honest, when I first started looking into Bitcoin trading, the potential profits sounded pretty sweet. I mean, who wouldnt want to get rich quick? But over time I realized chasing those crazy gains can burn you more often than making you a millionaire overnight.
Believe me, I have tried to time the market and outsmart those volatility swings. More than once, too. but you know what they say - the market can stay irrational longer than you can stay solvent. and I definitely learned that the hard way a few times.
Now, I know patience pays off more than panic in crypto. Just holding strong can be the best move even when FOMO kicks in from seeing those green candles shoot up. Easier said than done of course! But overreacting has cost me more money than I care to admit. So yeah, patience is tough but pays.
mr_satoshiSenior Member
Posts: 305 · Reputation: 1629
#3Jan 17, 2023, 05:12 AM
Even the best traders still experience occasional losses in trading, no one has a 100% win rate. If losing in trading is discouraging to you, and a reason you do not want to learn trading, don't force it, there are still other opportunities in cryptocurrency you can profit from.
Most traders are okay with losing once in a while, and that is one reason they are still active trader. Losing only becomes an issue to them mostly when losses beciome too frequent.
Several months did not trade because they knew the direction of the market was no longer stable, because in the past they had experienced considerable losses due to too much delay in profits not being taken, which in the end became a big loss.
There is nothing easy in trading let alone risking big risks so those who have big guts for them in trading, but there is nothing wrong with trading if they can still make a profit.
What is clear is that now I prefer to buy and then hold.
The DCA method is probably the best strategy because it buys without seeing any price.
mark_whaleSenior Member
Posts: 238 · Reputation: 968
#5Jan 19, 2023, 12:55 AM
Been trading (crypto) since somewhere in 2017-2018, but of course not every day. Some months or years have been very profitable, others pretty much not, but the principle is to keep long in the game. Not this business of trading for one month and then your account is completely blown, and then you give up on trading because you thought you would be a millionaire overnight but got your account to zero instead.
It doesn't work that way. If it was that easy, everyone how has every bought Bitcoin would be a millionaire
Everyone has their own strategy or style of trading. What works for you might not work for someone else
If you have a mindset of never losing a trade. Then you are in the wrong place.
I think the best traders expect to lose more than win, so I would say its not even occasional, but of a significant frequency. OC it's different with day traders, long-term raders, swing traders, scalpers, etc but the best ones know they're fighting a battle where there are at a disadvantage.
Its also not just about capital but about time. That was for me the main issue, I spent years, won some, lost some, maybe in forex won a bit more than lost, maybe in crypto lost a bit more than won but what I really felt cost me was the years of my life gone.
Trading doesn't grow you as a person, if you're just in front of screen all day long. This is the issue for me, and what most traders fail to calculate.
I've been trading for some years now but not too consistent because I do have some other business to handle. Trading is risk but not bad if you know how to find your feet on the process. The desire of getting profit daily and repeatedly is the reason why some trader becomes so impatient to the extent that after making some profits, they can still mess up on another trade and lose all their profit. It's not necessary that everyone must trade, if you can not handle the risk, it's better to just be a holder.
Trading shouldn't be a persistent activity we carry out every day but should be occasionally, and by occasionally I mean when we see opportunity to take a position after we would have done our due diligence. People that losses so much into trading are those that wants to buy all means make money, and you could easily get greedy and continually open trades even when you have no idea of the market direction.
If we get to study how some persons trades we will discover that a lot of them are gambling with their funds and not really trading as it should be.
There are no traders who lose in trading, all traders whether you are an expert or not still experience losses. Because there are no perfect traders, that's what I know. All we really need is to have a broad knowledge of trading and our experience in actual trade should also be broad.
Because of course if we practice what we learn in trading, the experience will sharpen us so that we can get a profit in the end.
It may not be big but at least we don't lose profit every day of our lives.
Yes, trading is very risky but that will depend on your skill. If your skill can analyze the market and say that you can enter the market, you can go with that. But if the market is difficult to analyze, you better not to trade and just to monitor the market movement first until you find the way to enter the market.
If somehow the market is down deeper after you buy, you don't have to panic and just hodl your coin. That will be better to do because the market will increase soon. You just need to wait for a while and not doing anything except wait for the market recovery. You do not need to rush in trading because that can lead you get the lose so being patient will be needed in this matter.
It is not about how many days have you been trading but it is about how you can analyze the market so you can make a profit without a problem. Sometime, waiting for a while will be a good decision in trading so we can think clear of what happen to the market.
Anything that has the potential to grow or earn profit fast in a short period of time is also prune to huge risk there is no two ways about, so the faster way upward is the almost same pace down ward. As such there is no trader that hasnt experienced losses before because it is part of the game your speculation can never be right all the time no matter the kind of strategy you use.
So saying trading is only for those who doesnt lose is not right but for those who can minimize their losses and also maximize their profits. If you look at successful traders they usually have around 70% or less successful trader some even way less but their accumulated gains and loss is usually a positive thing as they manage their risk so well that no matter the losses their wins covers it up for them.
So personally I will say Trading isnt for someone not ready to learn and be Patient, rather if you lack the knowledge or have just basic knowledge stick to holding. Also trading isnt about been smart but about fixing your behavior, looking for mistakes in losses and fixing them and not sticking to them.
The risk in trading is always there and is clearly not small enough so that it can only be experienced by those who have the mentality and courage to do it. Because for those who have been wrong and have lost to the point of experiencing losses through trading, of course they will look for a more optimal way not to experience it again at another time. So continuing to trade after experiencing a loss is not wrong even though the risk level does not change, whereas what you suggest is only a small part of how to invest in Bitcoin with the aim of making a profit after there is another increase in the price of Bitcoin.
I learnt this a very long time ago in this forum, and that's that a newbie or anyone who hasn't acquired the necessary skills shouldn't trade, those who also don't want to learn anything about trading, but they just want to do copy trading, i also believe that trading might not also be for such people. The better option for me is to hodl my bitcoins and that is what i do, trading isn't really my thing, so i try as much as possible to stay away from it, until i can say i have the skills to trade.
I'm the one who's addicted to leverage trading and losing it all. From today, I have decided to not exceed my leverage trading value 10% of my total exchange holdings.
Trading if done correctly and without greed would easily yield 12-24% annually risk free. It's when you are risking more for large profits, venturing to new and untested coins or taking huge or any leverage to tap the market change, you are gambling.
Surely bluechip coins like Bitcoin would never disappoint you. It could go lower or sideways but in long run, it is going to break its all time high again and again.
ledger_novaFull Member
Posts: 83 · Reputation: 332
#15Jan 24, 2023, 05:49 AM
The first line is beginning to sound like an advice to a gambler, yeah we know losses are inevitable and it's quite risky as well to indulge in something that's more addictive but coming down to trading I think when you can be able to learn what trading is all about then you will be able to unfold good experience that will give you a spectacular trades.tho consistency matters but getting the right information goes a long way.
Loses in trades will make us uncomfortable, we don't pull the strings here but on a normal ground, there are certain adaptation to be aware about. However how can get positive about the market especially to convince some group or people about the profitable running in the market. The financial market have been built in several phases, one can either be making profits or losing them back to the market.
Do people ever wonder why I'm so peaceful with the market, if I don't record losses, I just smile because I've learned my route and following it with silence, there's possibly no need to be panic because principles are there to keep you on track. All these years, I've been able to do quite significant things for myself, having the necessary help by my side is something of great priorities.
Dca and hodl is also a trading strategy. Many people think if they make more trades they will get richer. The reality is very different. People who bought and hedl made the most buck while traders didnt make anything at all. Only the exchanges are making money if you make many trades. Buy and hodl, hodl them in a codl wallet and you will become a king kong in 4-5 years. Then you can hit yourself in the chest and roar all you want. Just dont attack godlzilla because he will fuck you up.
And to add to that, no one can be a trader, while everyone can be a holder, a long term holder. So with that, for me, it's better to just accumulate overtime instead of being a short day trader.
I have nothing against those who trade, if they succeed then good for them. But for us, this could be the easiest way to make money, but buying and accumulating when the price is down and just to be mentally strong to be a long term holder.
When we have been trading for a long time and maybe not much profit is obtained, even more losses are obtained, maybe it's a good idea to stop trading. Sometimes there is something in the field that is not suitable for us to work on. If it is not suitable for trading, maybe it is better to invest in Bitcoin in the long term. Changing it is not a mistake and I also do that even though I still trade, but not often.
Everyone can trade, but developing yourself to continue to profit in every trade may require talent in understanding it. Not everyone has a good level of understanding.
They won't understand that.
The short term folks will not buy during the losses and dip but they will panic. Trading is complicated and once they have tasted profits from there, they'll start to get onto it.
But I agree that it's best to simply hold without any hassle and the profits will come at the right time. You might even win against someone who's trading daily but incurring more losses than you do nothing.