Yes, correct. I learnt very quickly to avoid buying directly from Luno (2% comm + inferior exchange rate) and have moved to the exchange buying.
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Bitcoin Thread
- Thread starter Dan C
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Luno tutorial I did 6 years ago. Might be cringe & a bit outdated now but goes over the exchange basics.
OutlawJoseyWales
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Bitcoin going to zero.... just sayin'!
Couldn't care less I can ride a short all the way down to zero.
But I doubt we will ever see sub 20k usd in our lifetime again
Barbarian Conan
Executive Member
Thanks , will hang on a bit!
jks aside, this was me a few years ago.
Learned then, Deposit the cash, set a buy limit order and wait.
99,9% of the time the buy limit hits and I get the Crypto at a lower price than it was trading at when the funds were available.
Try it on your next months buy. even if it's a small % lower than the current rate.
Forget about it while BTC continues to climb.
Then, 3 months later when there's a dip you get a trade confirmation from luno and you crap your pants, because you can't remember making any trades.
CryptosEra
Well-Known Member
cont care.
my catcoins are on a tear
have we not had this discussion already? with you? DCA. tbh 10-20k worth isnt going to get you rich anyway. You need to understand 10k would go to 100k if btc goes 10x almost shy of 1m USD may as well just smash it for that amount
If we were (and it seems like we might be) going into alt season I'd consider putting that into alts...a lot of things up the last few weeks with good % moves.
I’d like to hear from you guys, have you consistently made money trading, and how much of that would you attribute to luck vs skill?
I see all of the charts and technical analysis, but surely you are playing this game against millions of others who are doing the exact same thing, each of you hoping to outplay the next guy.
I know I keep asking but I guess I’m trying to articulate the question right, if you know what I mean.
I see all of the charts and technical analysis, but surely you are playing this game against millions of others who are doing the exact same thing, each of you hoping to outplay the next guy.
I know I keep asking but I guess I’m trying to articulate the question right, if you know what I mean.
Sorry no idea, I am in it for the long haul, buy cheap and HODL
I'm having a lot of fun with DCA as was suggested. I have a BTC target which I am aiming to reach before the halving and am breaking that up on a daily to thrice daily basis leading through this month. I have also self mastered orders in the exchange.
I'm prepared to ride the pump or dump, but over the next few years, it simply has to rocket and I'm here for it.
I'm prepared to ride the pump or dump, but over the next few years, it simply has to rocket and I'm here for it.
A bit of both but mostly skill, crypto markets are some of the most human charged emotions markets.
I think tech analysis applies to gold, fx etc but NOT crypto although some will do TA for crypto.
When you have been in the game long enough (im talking years) you get a "feel" for the cylcle and can almost see the end coming just before the crash.
One thing I can almost say for certain is we wont see sub20k usd in our lifetime again
NarrowBandFtw
Honorary Master
people panicking with a drop from nearly all-time-high to $65k ...
I rode the previous $69k all time high all the way down to $16k rookies
I rode the previous $69k all time high all the way down to $16k rookies
Disclaimer: I am not a pro, adviser and without nearly as much experience as some of the guys on here. I have spent a long time playing with indicators, technical analysis, chart arrangement and looking at fundamentals. I have to be ultra cautious since trading has to never impact my overall financial situation. With that, a couple of comments on your questions.
I now am consistently making money, but that doesn't mean that every week I will not have one or two trades on which my stop is triggered and I lose that amount. At worst these mean there might be a week where I just break even. That hasn't always been the case. Early last year I had a run of losses and stopped trading for a couple of weeks to analyse where I had gone wrong. It turned out that there had been a run of days when the market followed a fairly consistent pattern and I based stops on a fixed level (10%). The pattern didn't hold and I was stopped out too soon almost every trade, losing 10% every time. Bummer!
A bit of luck, but not much. Skill - well I don't think that I am skilled. Lots of practice and trying to understand why trades went wrong and why they went right. Losses are far better teachers than wins. It isn't worth agonising over a trade that went wrong, but it is necessary to spend enough time trying to identify what caused you to make a mistake. Demo trading is not particularly realistic because there is nothing like the engagement that I have with live trading. Nonetheless, I do still go onto my demo whenever things are not working and especially, like today, when the market did something that I didn't expect, to just spend time playing without anxiety.
I never try to outplay anyone, not even Mr Market aka many thousands of traders and bots all trying to make money. I especially don't try to outplay the "big money" or the market makers but to trade in their slipstream. Having said this, I do interpret volume versus price movements to see what the professional traders (aka market makers) are doing, viewing them as "wholesalers" who determine when "retail" traders will buy or sell by selling or buying respectively themselves.
Candlestick charts are the primary information for deciding of whether to trade at all and then when to take and leave positions. After intermittently spending time over a couple of years with a friend chasing every indicator there is and playing with statistical analyses from engineering, social sciences, ecology and geology. [I didn't try astrology, tarot cards,or incantations!] My friend now says that using 9 indicators cobbled into some Bayesian analysis he was able to get a 95% success rate. He still hasn't traded money yet - analysis paralysis!. Perhaps because I day trade crypto or forex pairs, technical analysis doesn't work for me. Now I use price and volume which I interpret using Anna Couling's VolumePriceAnalysis (VPA). I also have a chart of the Woodie's CCI indicator on the screen. That is about what my mind can handle and it works for me. The thing is to try and enter and leave the market so as to make a profit.
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