Bitcoin is forever hodl, or did you forget our convo a few weeks ago? And Elite Trader is a site for speculators, traders and investors Bitcoin is a highly speculative investment crypto digital asset, in case you did not know If you can report me to the Elite Trader mods that I'm not welcome on the site since I'm an investor, I'll willingly comply to quit posting once I'm informed to do so We do have an ongoing challenge and I find it odd, Sir, that you're trying to get me out of the ET site, are you afraid you will not be able to perform per your claims?
LOL I certainly am a sneaky bustard. Whether I perform or not won't make a rats ass bit of difference to either of us.
Dont bother with naysayers. At the end of the day the point is to make money regardless of investing or trading. 90% of traders lose while 90% of investors makes money. There is the saying "follow the trend", I can also say "follow the statistics". Human nature always like to make things difficult for themselves. The surprising thing is I have lost a lot money actively trading crypto but for boring ass stocks (using my country equivalent of 401k) I was profitable from the get go. Crypto moves so fast that you really need a clear head if not over leveraging or overtrading becomes a problem.
Crypto market is 24/7 by the way. So as a trader do you 100% sell off all your bitcoin every evening? What if it goes higher while you were sleeping? Buyback higher? Since you are trading only during the day you are missing out all the upwards moves at the night bit coin makes too.
As a trader you follow the trend. When the trend changes you go to cash or short if you have more balls than I do. I don't know why you guys can't see the possibility by throwing up a chart. There have been several uptrends followed by sell offs. Can you see any reason this is not tradeable?
Sir, I am still awaiting your masterful trader moves so I may learn Please don't forget to show us with real money $250K your trades against the 5 btc investors 5 BTC investors on 12/6/2021 = $244,390
Hey John. Sorry to keep you waiting but I see no reason to take a position right now. Lets see how low it goes, then buy on the way back up. If it ever goes back up. I'm sure it will but let's wait till it makes a bottom first. From my point of view there isn't a great deal of downside to being in cash at this time.
It is tradeable and you will make money from it. But there are too many variables and nuances to say for certain you will beat a buy and hold who got in at a good price. Do you go 100% all in in your position size? If so what is the chance you hit your stop loss taking a large chunk of your equity and it bounces back higher? No worries for the investor. If you position size say 20% to manage risk, how are you for certain you will catch enough uptrends to beat an investor who is 100% vested all the time? Crypto is 24/7. If you are in cash and asleep and it goes up a few% what do you do? Buyback in? Over the years compounded this could mean a very big difference. See what I mean? I realized the folly of trading crypto. Trading for stocks is okay due to it having regular hours and is much slower. Something much faster moving 24/7 and with huge upside potential should be a buy and hold.
No worries, kind Sir Please take your time no matter how long it takes. Bitcoin is difficult and has a lot of whipsaws. Price action has not been ideal for trend trading as of late
If you say so. I personally can't stomach the huge swings. Especially with something I don't understand. I don't know how to value a currency (isn't that what bitcoin is supposed to be) that can swing 10% in value in a few hours. I'm not comfortable with a digital currency that moves anonymously. I someone steals my coin, who do I go to? (I see some teenage hacker supposedly stole 46 million). He was caught and charged but I don't know what happened to the 46 million. Supply and demand drive the market. I have a problem wrapping my head around what is driving demand. There is no doubt that there is a demand but what happens when it dries up.