Rules for weekly income (crypto)

[Munted]

#1 Do not expect a $500 USD week on $1000 USD speculated.

Translation: You will need 10k min to get a good crypto income from it - IF lady luck is visiting town. 20k, if not.

[Davis Knowlton]

Had to start another thread for this? Couldn't fit it in your other one on the same topic?

[Munted]

Big subject, this.

[baldrick]

if munty is making crypto with regular trades I think his own thread explaining his methods might be qute valuable to some members

if people have the time to trade - it seems lots of posters here do have time

but it should be in the lounge

and davis check and see if you can ignore a thread in your settings

[Davis Knowlton]

No problem. Can easily ignore all four threads on this topic.

[Munted]

Thanks guys do admit I got a little ahead here but will strive to do better.

[Munted]

08:00 UTC Report: Sea of red, not looking good. No trades to report of BTC top one-hundred pairs. ETH does not look any better. Yes, the fundamentals are hyping big time. Ignore, this is just pre-FOMO buzz.

[cyrille]

Had to start another thread for this?

With the profound advice that you shouldn't expect to double your money in a fortnight.

Followed by an explanation of what that means for non-experts.

[Munted]

#2 Weekly Income. Don't be impatient. Divide your capital into lots of 10. Some of your capital will make a profit in 24 hrs. Others will take a little longer. Do not panic if no income from any one lot in more than a month, (Only applies in up-trend market). In down-trend market you should strictly adhere to your stop-losses.

[Munted]

#3 Weekly Income: I want 250 USD per week minimum.
Will this be sufficient to sustain me in Thailand? Yes.
In AU, UK, US, NZ? No.
Your crypto success. Are you making it i?
Test it. Prove it. Before you book that ticket.

[raycarey]

Had to start another thread for this? Couldn't fit it in your other one on the same topic?

this from TD's preeminent navel gazer who started two different threads on his mother's birthday.

https://teakdoor.com/the-teakdoor-lou...thday-mom.html (Happy Birthday, Mom!)

https://teakdoor.com/the-teakdoor-lou...thday-mom.html (Happy Birthday, Mom!)

[Dillinger]

Good Luck Munte..... however, we've heard this get rich quick on Bitcoin horse shit before........ from Lulu, Headworx and Robertson

None of them own a car, let alone a Lambo

[Bogon]

^ Take heed from Dilly's advice.

He was sucked into it.

Luckily, he may be stupid, but he seems to have enough dosh to do stupid things.

(crypto, motorbike, fad diets, eatigo, 8k for Foo Fighter tickets*, man-scaping the pubes every Tuesday in boy's town.)

*I could only afford the 5K ones, and he refused to lower himself and meet me in the cheap seats.

[lom]

None of them own a car, let alone a Lambo

Lamborghini Diablo SE30 Purple - you know that you want one

[Farangrakthai]

In down-trend market you should strictly adhere to your stop-losses.

what %?

I usually enter a day trade above a suppprt line. Cut loss is a few points below the line.

[Headworx]

Good Luck Munte..... however, we've heard this get rich quick on Bitcoin horse shit before........ from Lulu, Headworx and Robertson

None of them own a car, let alone a Lambo

Calm down, calm down. I never claimed to be in this for anything more than some fun with nothing more than gambling money in it, and owning car(s) here has never been something worth losing sleep over financially either.

[Dillinger]

^ what would you spend Lambo dough on then?

[Munted]

20:00 UTC.Bullish Engulfing indicator made to my special recipe is firing good. Exceptions are KNC (Inverted Hammer), AEE(Hammer). LRC is indicating Hammer and Bullish Engulfing. Do your due diligence.

[Munted]

^ what would you spend Lambo dough on then?

If you've got that amount of dough, chances are you're not hanging at TD at 09:49 PM.
Of course, not casting financial aspersions upon the esteemed members.

[Munted]

what %?

I usually enter a day trade above a suppprt line. Cut loss is a few points below the line.

Coincidental you should ask that question, as I've very recently had to get out of an ARKBTC position which went south quite quickly. I cannot speak for day trading as I am a swing trader but IMO there are certain trading principles which are universal no matter what market you are trading.

Always establish your exits prior to entering the position. That's it.

For instance, I have got some good success at entering positions when my bullish engulfing indicator informs me I should. (Of course, must also do some other TA)

On the close of that indicator I will then set a profit margin of 3%

And a stop loss of 10%

Yes, there are arguments that go along the lines that due to the extreme volatility of crypto the trader can lose out if the stop loss is set too tight. These traders take what is often known as a 'fixed position' . They will hodl until the market goes to their price. I have tried this once or twice but these trades take way too long to get to profit. I prefer to cut my losses and use that freed up capital to make more trades.

[Munted]

Thai taxes take shape
Thailand is on the cusp of implementing a 7 percent value-added tax (VAT) and a 15 percent capital gains tax on cryptocurrency transactions - a move that is coupled with new regulations on exchanges that handle the trade of such assets.

Last week, Thailand's Ministry of Finance noted it was moving ahead with the bill despite a request from the Thai Blockchain Association to relieve some of the tax burdens that will be placed on the community.
The bill will also require exchanges to institute more stringent know-your-customer (KYC) procedures and collect identification data for all their users.



more here: https://www.coindesk.com/thailand-ta...-ease-burdens/

[parryhandy]

Thai taxes take shape
Thailand is on the cusp of implementing a 7 percent value-added tax (VAT) and a 15 percent capital gains tax on cryptocurrency transactions - a move that is coupled with new regulations on exchanges that handle the trade of such assets.

Last week, Thailand's Ministry of Finance noted it was moving ahead with the bill despite a request from the Thai Blockchain Association to relieve some of the tax burdens that will be placed on the community.
The bill will also require exchanges to institute more stringent know-your-customer (KYC) procedures and collect identification data for all their users.



more here: https://www.coindesk.com/thailand-ta...-ease-burdens/

and if that wasn't bad enough they plan to implement a 15% withholding tax on transactions

Plea to ease[at]cryptocurrency[at]rules rebuffed

THE Ministry of Finance is holding firm against efforts for a draft bill on the regulation of digital currencies to be watered down, especially with the imposition of a 15 per cent withholding tax on transactions.

good luck making any money with those rules

[Munted]

Be careful out there - a lot of ETH pairs completely losing it

[Munted]

and if that wasn't bad enough they plan to implement a 15% withholding tax on transactions

Plea to ease[at]cryptocurrency[at]rules rebuffed

THE Ministry of Finance is holding firm against efforts for a draft bill on the regulation of digital currencies to be watered down, especially with the imposition of a 15 per cent withholding tax on transactions.
good luck making any money with those rules

Does make it inconvenient. Well, I am sure there are other jurisdictions who will welcome the bitcoin millionaires.

[Munted]

20:00 UTC. Lots of sideways action from the better quality alts. A good number of the more shit coins haven't been able to hold their value. As per the above post X2, some are tanking it. IMO this is due to the considerable froth generated by BTC testing the 10k. Players are moving funds from alt to BTC. Take any random selection of depth and you will discover there are a lot of massive sell walls out there.

The fundamentals are suggesting there is not a great deal of interest outside of the clique. Google search terms and new wallet registrations are nothing at the levels seen prior to the December 2017 fomo.

Once the 10k is convincingly smashed, we may see a difference in the fundamentals, as it often said that retail speculators love a big round number. Watch this space.

Big profit taking at the moment, many yanks selling off into fiat before hitting the hay. Also weekend, so often not as active. And those sell walls are taking some time to get through.

All in all I am reading a lot of pre-fomo froth on the BTC. Certainly not enough substance to bet your shirt on at the moment but perhaps a slightly better gamble than the Santa Anita races today.

You might be better off just selling out to fiat and waiting for a more opportune moment.

BULLISH ENGULFING HITS, due diligence required.



Not so many as yesterday, another indication of a market turn.