Thread: Why you need to be into Crypto trading

Originally Posted by Saint Willy

Everyone trying to get rich by doing nothing.

So, just like any currency trading, stocks, shares, bonds etc.

Risk & Reward

Crypto trading

Would recommend buying, holding, selling, rather than trading, unless you really know what you're doing.

Originally Posted by Saint Willy

Everyone trying to get rich by doing nothing.

If they're trading, they're not doing nothing. Studying, buying, selling, buying, studying, drinking, throwing things around the room and cursing heavily at various inanimate objects.

so buying, holding and selling isn’t trading?

Originally Posted by Edmond

Studying, buying, selling, buying, studying, drinking, throwing things around the room and cursing heavily at various inanimate objects.

Same as playing in the stock market. I broke a few things. Then when I had a win, I used the win upside to replace what I broke... Rinse and repeat....

Originally Posted by cyrille

so buying, holding and selling isn’t trading?

Not really, no.


Trading x for y, z for t, y for z and t for x, wishing you traded h amount of g to get on b, then doing so too late, screaming at your loved ones, yes.

Originally Posted by Edmond

Trading x for y, z for t, y for z and t for x, wishing you traded h amount of g to get on b, then doing so too late, screaming at your loved ones, yes.

I remember that day trading hell . Leave in morning to work whistling and happy, around lunch, sell x for more Z as the trend looked good then by late evening you are screaming at the top of your lungs and wanting to kill the neighbors cat.

It took me around 3 attempts to accept that although fun, I'm really, really bad at it, and make a lot more just letting them sit, with a bit of playing thrown in.

Eg, BTC on a slight dip. Put in a buy at 60k/sell at 65k/50k would be a small play that is more likely than not gonna pay some somtam money.

Originally Posted by Edmond

Put in a buy at 60k/sell at 65k/50k would be a small play that is more likely than not gonna pay some somtam money.

Day trading for me was a blast. I had some big wins and some big losses but the thrill was the best part. Anyone who says they are good at it are a bit delusional. To me the stock market was always the same for me like when I gambled in Las Vegas. The real challenge is knowing when to walk away. Some do that better than others. As an American guy, the bitter pill to swallow is that wins look great on paper but then you exercise for the "Real" paper and the IRS loves you for the capital gains. So make X on the sale. IRS will get 35% to 40% unless you keep the stock for more than 2 years. Of course that win is also considered income so you have to add that to your personal income and now you find yourself in a different tax bracket. Unless you play big sometimes the net of it all is very little and the added headaches just isn't worth it.

I have a few stocks now that I kept. I enjoy just opening up my acct and see the change then log out and go about my day and no tax implications.....

As for Crypto, my initial impression it seemed like a some weird scam so I never even looked into it and haven't. I still prefer the good ol Jacksons and Benjamins.

Originally Posted by Edmond

It took me around 3 attempts to accept that although fun, I'm really, really bad at it, and make a lot more just letting them sit, with a bit of playing thrown in.

Yep, trading crypto or stocks on a short-term basis isn't easy — especially since you're going up against the big boys and big firms who use million-dollar computers with algorithms to determine when to buy/sell.


I had fun reading the charts and trading BTC a couple of years ago — I would buy on the support lines and then sell when it went towards resistance.


Though, of course, "cutting lost" on the losing trades would eat away any gains.


After a while, I just decided to let it ride and see what happens.


I don't have much money invested — so, it doesn't matter what happens, and from time to time, I do some trading for fun.


Some long-term investors see BTC as a hedge against inflation (like gold) due to its limited supply.


Overall, long-term investors rarely have more than a small percentage of their investments in things like gold — or now crypto.


The more exciting thing, IMO, is that the underlying technology of blockchain, whose use will only become more widespread in the future.

Btw, for those in search of some real excitement: Try trading FOREX — on margin.


You gain or lose 20 times how much the market moved.


It's a really wild rollercoaster ride.

^ There's been more than one Dill, that's for sure.

If they have a white paper and a future road map

It is a scam

Originally Posted by baldrick

If they have a white paper and a future road map

It is a scam

Eddo Cheddo done up like a kipper again.

A prom date promise.

Get in on some Metaverse, if you're not already involved, for a 3-5 year hold.

Originally Posted by Saint Willy

What do they have in common?

They are run by despots and riddled with corruption

Originally Posted by Saint Willy

well maybe not the USA

That includes the USA.

Originally Posted by malmomike77

That includes the USA.

When was the last time you visited?

When Saint Obamahama was running the show

As you well know, there is no point doing travel threads - all that happens is they get piled on, usually by that same crew that never post any picture threads themselves.

Actually, in the last 8 or so years i rarely take pictures on holiday. If i was to do a thread i'd have to force myself to take pictures. Some years back i realised i was spending forever going back through the hundreds of shots on holiday and farting around deleting the rubbish and keeping the select few only to file them away and never open them again - camera only comes out for the kids and their sprogs...grudgingly .

Originally Posted by Edmond

A prom date promise.

Get in on some Metaverse, if you're not already involved, for a 3-5 year hold.

Grab some Snapchat, you'll make good money within a year.

It’s basically just a form of gambling then?

No thanks.

I put all my money into Teak Coin.

Originally Posted by armstrong

I put all my money into Teak Coin.

You're lying, they were amulets. Given me nothing but bad luck too.

Originally Posted by Edmond

A prom date promise.

Get in on some Metaverse, if you're not already involved, for a 3-5 year hold.

SAND.

Still a good price, despite going 5 fold in the last month. A nice wee earner.