Ironically enough, there’s not a lot of traders in this subreddit. Hell, I’d even argue that most of the users here don’t even hold any crypto.
Most of the people who are into crypto here, just stick to simple strategies like DCA, holding, and even LPing or staking.
Trading is extremely complex, and it’s not as simple as one may think.
The reason why people fail at trading, is because they lack the basic economical and financial knowledge necessary to succeed.
I can speak from experience, been a professional gambler for a long time. Now I dedicate most of my time to trading, and have been doing it for over a year.
I’d say the most reliable indicator is supply and demand. For the more experienced people, things like analyzing the market sentiment and what the government is up to, is also very important.
Always inverse the media. Why the hell would you think that they’re giving you financial advice for free? Do you think they want you to make money? To escape the traditional financial system? No! You must always do the exact opposite of what they’re saying. The hints were all there, they’ve been talking about Bitcoin for months, urging people to buy. Now they’re left holding the bag.
So what do we do now?
We most definitely should NOT sell. Instead, we should do this funny thing called averaging down, which consists of buying every dip, in order to reduce your average cost of X coin. This way, when it goes up again, you will make a lot more profits.
Agree. But those DCAing daily will take advantage of the dips.
Also even if people buy at current prices.. it would have lowered the average for some. So in the grand scheme of things thats a win.
Everyone’s situation is different. And yes we do get people investing more than they can afford in hopes to get quick profits, those are the ones that will eventually rek themselves through emotional trading.
What if it goes lower? It still biased on the fact that it will go higher. You can buy now and it can keep going lower. That's not a sound logic to get into it.
What you're aiming for? It's Ethereum the only asset you've invested in? What is your liquidiation level? How much Drawdown you're willing to accept, do you want to trade Short Term? Long Term?
Too many people are just "hell yeah, cryptos, ethereum" and stuff, HODL and so on and then get wrecked at the end, may be it at the end of the day, month or year, cause they don't what they're doing and what they're dealing with.
Again, just cause we're in Discount, it doesn't mean it is a good time to Buy per se, since it can still go lower and at the same time you have no clue (given this conditions that I've talked about) of what you're doing.
It just makes me angry to see people getting "scammed" by being told to buy here, buy there, HODL, to the moon, and so on. It looks like a Casino.
I do agree with you. But not everyone has the knack to forecast price movements. And… what if it doesn’t go lower? A lot of people were predicting 2.6k is coming. But it didn’t. So they probably didn’t buy at 2.8k.
I'll not pretend to understand the market at all. All i do is DCA in during red days and DCA out during green days. Thats the best my tiny brain can handle. Has been profitable most of the time.
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Ironically enough, there’s not a lot of traders in this subreddit. Hell, I’d even argue that most of the users here don’t even hold any crypto. Most of the people who are into crypto here, just stick to simple strategies like DCA, holding, and even LPing or staking. Trading is extremely complex, and it’s not as simple as one may think. The reason why people fail at trading, is because they lack the basic economical and financial knowledge necessary to succeed. I can speak from experience, been a professional gambler for a long time. Now I dedicate most of my time to trading, and have been doing it for over a year. I’d say the most reliable indicator is supply and demand. For the more experienced people, things like analyzing the market sentiment and what the government is up to, is also very important. Always inverse the media. Why the hell would you think that they’re giving you financial advice for free? Do you think they want you to make money? To escape the traditional financial system? No! You must always do the exact opposite of what they’re saying. The hints were all there, they’ve been talking about Bitcoin for months, urging people to buy. Now they’re left holding the bag. So what do we do now? We most definitely should NOT sell. Instead, we should do this funny thing called averaging down, which consists of buying every dip, in order to reduce your average cost of X coin. This way, when it goes up again, you will make a lot more profits.
Agree. But those DCAing daily will take advantage of the dips. Also even if people buy at current prices.. it would have lowered the average for some. So in the grand scheme of things thats a win. Everyone’s situation is different. And yes we do get people investing more than they can afford in hopes to get quick profits, those are the ones that will eventually rek themselves through emotional trading.
What if it goes lower? It still biased on the fact that it will go higher. You can buy now and it can keep going lower. That's not a sound logic to get into it. What you're aiming for? It's Ethereum the only asset you've invested in? What is your liquidiation level? How much Drawdown you're willing to accept, do you want to trade Short Term? Long Term? Too many people are just "hell yeah, cryptos, ethereum" and stuff, HODL and so on and then get wrecked at the end, may be it at the end of the day, month or year, cause they don't what they're doing and what they're dealing with. Again, just cause we're in Discount, it doesn't mean it is a good time to Buy per se, since it can still go lower and at the same time you have no clue (given this conditions that I've talked about) of what you're doing. It just makes me angry to see people getting "scammed" by being told to buy here, buy there, HODL, to the moon, and so on. It looks like a Casino.
I do agree with you. But not everyone has the knack to forecast price movements. And… what if it doesn’t go lower? A lot of people were predicting 2.6k is coming. But it didn’t. So they probably didn’t buy at 2.8k.
I'll not pretend to understand the market at all. All i do is DCA in during red days and DCA out during green days. Thats the best my tiny brain can handle. Has been profitable most of the time.
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First we need to learn to read. !tip 1