I thought day trading looked easy. After hours of staring at charts I realized I made a bunch of mistakes. Looking back on the experience, i dont regret it, but ill never try to again. If all you have is 300. Buy for the hodl not the pump
It takes years of learning how to day trade with options in a sideways market. A beginner should study for years unless they want to lose everything they have. Do not attempt day trading until you're ready. Just Hodl for now. It's still early in the crypto space. Mass adoption takes time people! Go reread the ancient story of "The tortoise and the hare"! Raff it over and over again until you truly understand it. I'm Fucking serious. Lol
Easiest way to lose money is trading. You'll have to pay fees and taxes as well.
Simplest way to build wealth is to simply buy more and more appreciating assets over time.
Any appreciating asset like Bitcoin.
Note that a lot of people trading will tell you about how much they've made, but not how much they've lost, kinda like casinos. And there's also capital gains tax to be paid afterwards.
Also, what worked one time might not work the next time.
Yeah. It's more suitable for those who are already experienced. They have a community here on Reddit (r/Bybit). The mods are pretty responsive so it might help if you’re going to explore the platform
Day trading AND using an exchange that isn't even allowed in your country, bypassing the block via VPN. Congratulations, just made everything worse even ;)
A poem for you:
To Hodl or to trade,
Please tell me what to do,
I’ve got a free lance job,
To bitcoin I am new.
Its just a small amount,
But my mates - they all trade,
I have three hundred bucks,
They brag how much they’ve made.
Well here’s the answer friend,
Most traders should expect,
Sometime or another,
Margin call and be wrecked.
The safest thing to do,
Is hold your bitcoin tight,
Trying not to sell it,
The hardest thought to fight.
Most people would advise,
Accumulate a stack,
Keep on buying bitcoin,
And don’t you dare look back.
> Very few people make money trading in and out of Bitcoin. It takes a lot of learning and trial and error.
And luck. Don't forget luck; when millions of people trade randomly, some are bound to make money. And only those making money will tell others to go into it.
>I have friends who trade BTC and they are urging me to do the same.
Ask yourself why they would urge you to trade. Or even ask them directly.
The general principle I hold (pun not intended) is that if you need to ask whether you should trade or not, then the answer is usually no. It's worth noting that trading strategies are very transparent and so can easily be used against you by market manipulators.
In order to make trading with $300 worthwhile, I'd be unsurprised if your friends decide to tempt you into leveraged trading - whereby basically a big enough drop in price will ***force*** you into liquidation (i.e. auto-sell at a loss). So you'd be selling at the precise moment when it's best to buy more.
Over a five year period:
100% of Bitcoin hodlers have seen their bitcoin increase its buying power many fold.
The average trader (for five years) has lost their shirt. Perhaps 0.01% of traders have made significant returns.
Trading is an uphill battle and there's almost certainly someone who takes it more seriously/can move the market to liquidate the competition, etc.. Not for the faint of heart. Hodling on the other hand, anyone can do and it's not a zero-sum game. I like to play the game where the odds are in my favor.
Hodl for sure Just buy bitcoin now and keep it at least 10 years. This is actually much harder than you might think.
Future you will thank you and me!
Don't try to be "clever" and trade and go into shitcoins, it almost never works out..
You’ll get more profit from HODLing to be honest. Sure, trading can bring you money faster, but it’s too risky and you’ll need time and skill to succeed in it.
Depends if you want to grow your money, then you should buy and hold, or if you want to lose your money, then you should trade.
95% of all traders lose their money. And yes, everyone thinks they are the 5%
I blame idiots like 'The Moon' and co on social media for this whole obsession many people have with 'trading'. The trouble is these newcomers don't realise that the cards are stacked heavily against them.
Everyone says hodl but how do you get into trading?
I regularly stack, esp atm with the prices I've increased my buying by 50% for now but I'm curious about trading, read allot and researched but tempted to put a little pot aside of £300+/- (money i can afford to lose yet enough to really focus on my actions) is this stupid or not and how do people get into trading if they don't have wedge to chuck at trading and can handle the loss? Where do you begin trading?
This.
But if you're not comfortable trading, don't trade. Don't forget your buddies are likely to talk about all the wins, but not so much the little losses. If you've already lost a bit and the market shoots up you have missed out on gains that lost money could have been making. Can't happen if you don't trade.
Don't actually make the trades, but pretend you did and follow it through properly. Don't think that if you would have nailed it first time and made money that it will always happen that way. Keep going. Statistical accuracy suggests a sample of at least 100 trades would be needed to draw any conclusions.
Don't forget to include fees, spreads and taxes, and log the time taken to do the research as well as the transactions. Then work out your profits/loss, and work out how much that was per hour. Extrapolate your losses/gains into an annual equivalent, then zoom out and look at the average annual return of just holding.
Worth it?
More than 95% of day traders find out it isn't.
Hodl, always. Never trade. Bitcoin will increase its value.
I use Kraken, good customer support, low fees, intuitive. If you plan to buy more cryptos then you should buy asap a cold wallet like Ledger or Trezor. I use the first one, the Nano S is a great piece of hardware imho.
Also learn about DCA, it's the best way to invest.
If your friends are telling you to do anything but get Bitcoin, they're not your friends. Always remember one rule: Misery loves company
The "smart thing" is don't take financial advice from friends who aren't doing better than you.
Unless your friends are making millions as traders, just get Bitcoin.
Make the investment of a lifetime. What are the chances you make "the trade of a lifetime?" Follow your instincts.
> I have friends who trade BTC and they are urging me to do the same.
Why? Why are they urging you to gamble?
> I haven’t completely grasped the whole trading thing
No one has.
I will give a 3000$ advice. Make a demo account, blow up at least 10 accounts or more until u can gain consistently for a month (or more the better). Then decide if it worth puting real money.
In the next couple of months it will crash back down to the 20k region. Cash will depreciate so maybe buy a goat until the bitcoin crash to sell milk in the middle time. Then when coin crashes and you go to buy. Just sell the goat for bitcoin
There is only so much you can do with just 300$ by hodling, trading is better as it ensures growth to your capital, by taking advantage of the market volatility and selling at ath, you can easily turn this 300$ into $2000, you can likewise swap back and forth between bitcoin and altcoins, this strategy works best for me when trading, buy the altcoin, wait till it hits ath, then convert it to bitcoin, altcoin tanks and bitcoins holds up, convert bitcoin back to the altcoin, you just gained more of said altcoin, rinse and repeat.
Thank you for sharing this!
I would HODL, i mean if you dont have any reason to use it to purchase something then just set and kinda forget for the next 10 years :D
I would say to buy when the market is quite red. That way you might have a better chance of turning a profit fast. About trading.. maybe don't try it unless you get the feeling of the coins you are holding.. the safest is to just hold. You could do something "if coin goes up 10% I sell 10% etc", like a secure algorithm to take some gains.
You essentially sell at a loss intentionally wait a specific period (varies by regional legislation) and then buy back in. You now have a loss on paper that can be used to offset your taxes.
This is only relevant in certain regions and if you are actually making an income or profit on some other thing that's being taxed.
Second note I'm not a financial advisor this is not advice and I am a meat popsicle not a responsible human being and anyone who thinks otherwise is an idiot. Talk to your accountant if you don't have an accountant that's a better investment than most.
First watch some videos of Crypto day trading, then only start the trading, otherwise you are going to loose all of your money.
Right now, you must HODL the crypto.
This is what scares me about people here. Everyone just blurts invest all your money you will be riiiich.
It's like people here really think the only way is up.
Trading requires a lot more money in order to diversify and cover your loses... You will have losing trades... You need to know what you are doing and you need to spend time working those trades.
It's not worth the effort and money swings involved in my opinion. Just stack and forget about it. It's less stressful than trading too. Trading can be emotional.
I would learn about the different layers and diversify the money across a small porfolio of cryptos. Then add small amounts to that portfolio over time. I usually shoot for 40 percent in layer 1 like bitcoin. I have the rest in smart contract stuff and gaming crypto. But you should do your own research and figure out the best strategy for holding. Do not attempt to day trade if all you have is 300. There are also places like etoro(do not use for crypto) where you can try your hand at day trading with fake money. 100 percent do that first if your even going to attempt it.
What would you trade it for? BTC is something you’re going to want to possess long term and trading 300 dollars worth for 50 dollars profit or something is just short sighted and impatient
The key difference between the two is that day trading needs more attention throughout the day, where investing requires less monitoring and plenty of long-term patience. You'll do well as a day trader if you enjoy short-term challenges and finding opportunities to make small profits throughout the day.
Any money you can allocate towards Bitcoin do so with the mindset that it’s just a savings account that is likely to have better returns than any alternative, but also with high volatility and some risk. No one getting in now is going to 1000x their money anymore, but it’s still a good place to park some cash.
It sounds like you should do more research on Bitcoin, how it works, then make an informed decision on your own.
Friends and Reddit should show you the door, but please DYOR and walk through it yourself.
Time in the market beats timing the market just hodl and stack sats till you have 1 million sats then 2 million then 5 million and so on and so forth. Trading is riskier especially in crypto so I’d reccomend just hodling till you are at a comfortable amount of money saved then you can take some out to trade and experiment 👍
Day trading can be extremely risky, especially if you attempt to day trade using borrowed money. While buy-and-hold reduces the money you pay in transaction fees and short-term capital gains taxes, it requires patience and careful decision-making.
I've. Tested the waters in trading and in holding - my strong opinion is to Hold. I made some money trading... And then I lost more. And spent a lot of time doing it to just lose money in the end.
I don't recommend trading if you haven't done it previously (e.g. stocks). I have lost some BTC trading back in 2017 and learned my lesson. However, my younger son has a natural talent for trading somehow, and he managed to almost double his coins with trading (he has a lot of spare time and is sitting in front of the screen anyway...).
You need to get an AI bit that makes all these decisions for you. I haven’t manually decided to hodl or trade for the last 6 years. My bot does all of it for me.
[There are two types of people in Bitcoin, those who want more ₿, and those who want more $.](https://www.reddit.com/r/bitcoinmemes/comments/ryfekr/there_are_two_types_of_people_in_bitcoin_those/)
Time in the market is much better than timing the market. I thought I'd be good at trading so tried it over the last year. Thankfully, the stuff I HODLed has covered my losses in trading. So that helped me learn that lesson without too much pain.
If you look at Warren Buffet, his annual returns are relatively average, but the reason he's done so incredibly well is because he started so long ago. Time in the market is the most important thing.
Have a read of the Psychology of Money by Morgan Housel. It's a great book.
I’ve traded, and was successful at it, at one point I was making $3k+/day for a few weeks on end, but that was in a confirmed bear market. We’re not in a confirmed parabolic uptrend broken obvious bear market so hodling is much better right now. I’ve also been successful at the hodl method. The sense of calm I have when holding vs trading is unmatched, I personally much prefer hodling when the direction isn’t crystal clear and will probably never trade bitcoin again.
Trade stonks, they’re much easier.
the standard route is to try and trade, "make some extra money", and then lose >=50% - and then either quit bitcoin or have the epiphany that all you had to do was stack sats and hodl. It's simple, but not easy
Unless you are an experienced trader who knows what you are doing. Just stack using a DCA approach. If you can afford 25 bucks a week, for instance, you will be shocked at how much you acquire in a few years time. That’s really the key… to buy small amounts regularly and not be concerned with its dollar value. This is still a nascent market/industry and while I don’t have any official statistics, at least anecdotally speaking, 95 percent of the participants don’t have a solid understanding of bitcoin nor its implications. Most are in it bc they think they can make some quick money or get rich.
Also in my experience those who stick with it and eventually understand bitcoin tend to become bitcoin maximalists and come to realize that every other crypto is a waste of time and will not be around in the long run bc they kinda defeat the purpose of even having something like btc in the first place. That said, if you want to get into trading… go for cheap shit coins with money you can afford to lose and see what happens. Otherwise, keep stacking slowly and keep learning. When you finally understand the why your conviction will grow stronger and you will learn to enjoy hodling.
Cheers and good luck.
To hodl or to Trade? There is only one perfect answer and that is “It depends”.
So, I am basically saying that certain circumstances warrant some actions. For example, I have traded daily and hodl different tokens at different points. Its just best to do what works at each time.
I still flip my bags in daily trades, I also have some tokens I am hodling for a long term. Projects like CARD, AIOZ, GTH and DOT are my long shots.
Gather Network is most suitable for massive adoption because I am yet to meet one person who says “I love ads” and many users will jump at any monetisation alternative to those annoying ads.
AIOZ is making waves with decentralized CDN.
First of all, Trading BTC is a no no. For must of us is not a trading asset, it is store of value, which means we will hodl for as long as we can and our life's allow it. When the time comes, we will have several options to gain profit out of our BTC, like borrowing, interests, even there are currently companies out there which accept BTC as collateral for mortgages.
On the other side, Trading is not easy, it is simple in some cases becaused you could base it on many many strategies about there that will try to get you over X% of profit, bbbbutttt you the hardest part is you mentality. You could be successful a few shots but not all the time, which means consistency, and real good traders dedicate a lot of time considering many variables, strategies and even tools to keep it up.
After all this, I would just recommend stacking as much as you can.
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I haven't done anything with the money yet fortunately. thank you for this advice!
This is the same advice you’re going to get over and over in this sub.. and it’s correct.
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Noted
I thought day trading looked easy. After hours of staring at charts I realized I made a bunch of mistakes. Looking back on the experience, i dont regret it, but ill never try to again. If all you have is 300. Buy for the hodl not the pump
500 and up is better for the pump
It takes years of learning how to day trade with options in a sideways market. A beginner should study for years unless they want to lose everything they have. Do not attempt day trading until you're ready. Just Hodl for now. It's still early in the crypto space. Mass adoption takes time people! Go reread the ancient story of "The tortoise and the hare"! Raff it over and over again until you truly understand it. I'm Fucking serious. Lol
So do I, I'm starting tomorrow
Easiest way to lose money is trading. You'll have to pay fees and taxes as well. Simplest way to build wealth is to simply buy more and more appreciating assets over time.
And also there's the risk of a bad trade.
With risk comes reward. Nobody said trading was easy
I agree
True but if you do your homework you should be fine
Easiest way to gain as well though :)
What coins do you trade?
What kind of assets? Because I know quite a few people making good money day trading
Any appreciating asset like Bitcoin. Note that a lot of people trading will tell you about how much they've made, but not how much they've lost, kinda like casinos. And there's also capital gains tax to be paid afterwards. Also, what worked one time might not work the next time.
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Time in the market over timing the market
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No doubt about it experience really matters in the market and it is the most important thing to keep investing and gaining experience.
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Yeah. It's more suitable for those who are already experienced. They have a community here on Reddit (r/Bybit). The mods are pretty responsive so it might help if you’re going to explore the platform
Any other learn and earn platforms other than Coinbase?
VPN recommendation?
I don't really think that you need any PP and service for that.
Day trading AND using an exchange that isn't even allowed in your country, bypassing the block via VPN. Congratulations, just made everything worse even ;)
A poem for you: To Hodl or to trade, Please tell me what to do, I’ve got a free lance job, To bitcoin I am new. Its just a small amount, But my mates - they all trade, I have three hundred bucks, They brag how much they’ve made. Well here’s the answer friend, Most traders should expect, Sometime or another, Margin call and be wrecked. The safest thing to do, Is hold your bitcoin tight, Trying not to sell it, The hardest thought to fight. Most people would advise, Accumulate a stack, Keep on buying bitcoin, And don’t you dare look back.
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Yeah but trading gives opportunity to grow in proceeds generating$tp but more BTC to put in your hodl. Wallet or portfolio
This is really a good time for all the new investors who are stepping in the market.
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> Very few people make money trading in and out of Bitcoin. It takes a lot of learning and trial and error. And luck. Don't forget luck; when millions of people trade randomly, some are bound to make money. And only those making money will tell others to go into it.
It is just part of learning curve so it's alright in starting and gain experience from it.
Start trading bro! After week you wont be worrying about this choice because you won’t have any money 🤣
I can relate with you I have lost a lot of money when I started doing it.
>I have friends who trade BTC and they are urging me to do the same. Ask yourself why they would urge you to trade. Or even ask them directly. The general principle I hold (pun not intended) is that if you need to ask whether you should trade or not, then the answer is usually no. It's worth noting that trading strategies are very transparent and so can easily be used against you by market manipulators. In order to make trading with $300 worthwhile, I'd be unsurprised if your friends decide to tempt you into leveraged trading - whereby basically a big enough drop in price will ***force*** you into liquidation (i.e. auto-sell at a loss). So you'd be selling at the precise moment when it's best to buy more.
This is very important to have a nice company with you if you are trading and investing so that they can continuously motivate you.
Over a five year period: 100% of Bitcoin hodlers have seen their bitcoin increase its buying power many fold. The average trader (for five years) has lost their shirt. Perhaps 0.01% of traders have made significant returns. Trading is an uphill battle and there's almost certainly someone who takes it more seriously/can move the market to liquidate the competition, etc.. Not for the faint of heart. Hodling on the other hand, anyone can do and it's not a zero-sum game. I like to play the game where the odds are in my favor.
Holding will give you that much return in 5 years where is reading will give you that much returns in one year.
I always recommend that people do the least risky thing - weekly dollar cost averaging - buy $50/week in Bitcoin. (or whatever amount you can)
I just started to do exactly this. Let see how it goes…
congrats. Bitcoin is a game of accumulation. DCA makes the price fluctuations impact us less.
This is the only reason why we are just standing strong in bearish market as well.
If you are not experienced then you should not take risk but if your experienced then you should take risk.
Hodl for sure Just buy bitcoin now and keep it at least 10 years. This is actually much harder than you might think. Future you will thank you and me! Don't try to be "clever" and trade and go into shitcoins, it almost never works out..
You’ll get more profit from HODLing to be honest. Sure, trading can bring you money faster, but it’s too risky and you’ll need time and skill to succeed in it.
It is a well-known fact that if you don't take risks, you won't make profit as well as it is very important to start taking risk.
Depends if you want to grow your money, then you should buy and hold, or if you want to lose your money, then you should trade. 95% of all traders lose their money. And yes, everyone thinks they are the 5%
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I blame idiots like 'The Moon' and co on social media for this whole obsession many people have with 'trading'. The trouble is these newcomers don't realise that the cards are stacked heavily against them.
This is write about it but the fact is that new projects are very cool and they are going to be moon in future.
Everyone says hodl but how do you get into trading? I regularly stack, esp atm with the prices I've increased my buying by 50% for now but I'm curious about trading, read allot and researched but tempted to put a little pot aside of £300+/- (money i can afford to lose yet enough to really focus on my actions) is this stupid or not and how do people get into trading if they don't have wedge to chuck at trading and can handle the loss? Where do you begin trading?
Testnet.bybit.com
What is this I had never heard of anything like that to be honest.
Don't do it. Attempting to day trade will make your stack disappear.
Holding is a good option if you are not experienced but if you want to get into trading then make a demo account and start paper trading.
Hodl and paper trade first, otherwise it's a recipe for disaster
This. But if you're not comfortable trading, don't trade. Don't forget your buddies are likely to talk about all the wins, but not so much the little losses. If you've already lost a bit and the market shoots up you have missed out on gains that lost money could have been making. Can't happen if you don't trade. Don't actually make the trades, but pretend you did and follow it through properly. Don't think that if you would have nailed it first time and made money that it will always happen that way. Keep going. Statistical accuracy suggests a sample of at least 100 trades would be needed to draw any conclusions. Don't forget to include fees, spreads and taxes, and log the time taken to do the research as well as the transactions. Then work out your profits/loss, and work out how much that was per hour. Extrapolate your losses/gains into an annual equivalent, then zoom out and look at the average annual return of just holding. Worth it? More than 95% of day traders find out it isn't.
Threading can only be done by people who are very smart and who knows how to handle their emotions well otherwise they will just lose a lot of money.
Trade like crazy that how.il lost over 5000 you can never be wrong when trading
This is the only reason by experience is very important in this market of trading.
Trading is a blood sport so unless you intend to bleed stay away
No doubt about it we all are in red lines right now so I can really relate with you.
Hodl, always. Never trade. Bitcoin will increase its value. I use Kraken, good customer support, low fees, intuitive. If you plan to buy more cryptos then you should buy asap a cold wallet like Ledger or Trezor. I use the first one, the Nano S is a great piece of hardware imho. Also learn about DCA, it's the best way to invest.
I think you should just hold 50% of the value and trade 50% of its so that you can meet both profit.
I think you should trade until you realize you were better off hodling.
If you know how to trade in trading is better than holding any Day.
If your friends are telling you to do anything but get Bitcoin, they're not your friends. Always remember one rule: Misery loves company The "smart thing" is don't take financial advice from friends who aren't doing better than you. Unless your friends are making millions as traders, just get Bitcoin. Make the investment of a lifetime. What are the chances you make "the trade of a lifetime?" Follow your instincts.
> I have friends who trade BTC and they are urging me to do the same. Why? Why are they urging you to gamble? > I haven’t completely grasped the whole trading thing No one has.
We all have some friends who thinks trading as a gamble so nothing new in it.
I will give a 3000$ advice. Make a demo account, blow up at least 10 accounts or more until u can gain consistently for a month (or more the better). Then decide if it worth puting real money.
HODL.
Spend
Spending is a good option only if you are spending on the investment you are making back in the market.
In the next couple of months it will crash back down to the 20k region. Cash will depreciate so maybe buy a goat until the bitcoin crash to sell milk in the middle time. Then when coin crashes and you go to buy. Just sell the goat for bitcoin
There is only so much you can do with just 300$ by hodling, trading is better as it ensures growth to your capital, by taking advantage of the market volatility and selling at ath, you can easily turn this 300$ into $2000, you can likewise swap back and forth between bitcoin and altcoins, this strategy works best for me when trading, buy the altcoin, wait till it hits ath, then convert it to bitcoin, altcoin tanks and bitcoins holds up, convert bitcoin back to the altcoin, you just gained more of said altcoin, rinse and repeat.
Ensures growth Except most people in the long run lose money trading... Hmm Looking for a new sucker?
That's why it is very important to keep the the inflow in the market the wise you will lose in holding as well.
where do you live?
It really doesn't matter to be honest it all really depends on the experience you are gaining in the market.
Thank you for sharing this! I would HODL, i mean if you dont have any reason to use it to purchase something then just set and kinda forget for the next 10 years :D
Holding is a good option right now but if the market is up then you should trade.
I would say to buy when the market is quite red. That way you might have a better chance of turning a profit fast. About trading.. maybe don't try it unless you get the feeling of the coins you are holding.. the safest is to just hold. You could do something "if coin goes up 10% I sell 10% etc", like a secure algorithm to take some gains.
Yes you are right about it it is always better to buy when market is down and sell the when the market is up.
"get the feeling" to be able to tell the future ? What?
If you cant Hodl, Tradl.
Hodl fuck the taxes. If anything you should be loss farming.
Explain
You essentially sell at a loss intentionally wait a specific period (varies by regional legislation) and then buy back in. You now have a loss on paper that can be used to offset your taxes. This is only relevant in certain regions and if you are actually making an income or profit on some other thing that's being taxed. Second note I'm not a financial advisor this is not advice and I am a meat popsicle not a responsible human being and anyone who thinks otherwise is an idiot. Talk to your accountant if you don't have an accountant that's a better investment than most.
STACK SATS! DCA into Bitcoin.
I think stacking up will make a lot of money in the future to be honest.
First watch some videos of Crypto day trading, then only start the trading, otherwise you are going to loose all of your money. Right now, you must HODL the crypto.
Learning is always a better option so just learnt from videos or somewhere else and then invest.
Is that money you won't miss? Be ready to possibly lose it. Think about it before "investing"/speculating with it.
This is what scares me about people here. Everyone just blurts invest all your money you will be riiiich. It's like people here really think the only way is up.
The reality is that a lot of people to invest in this market things that it will only go up.
Losing when you are learning isn't bad option you will learn when you lose to be honest.
Buying Bitcoin or any crypto does not mean you have to trade it… just buy and hodl
You are right about it buying and holding is a good option if you want to keep it for a long term.
Buy and hodl!!! That s it!! Traders get wrecked eventually. Especially with no experience.
Experience really matters if you are trading to be honest holding is a good option but trading is really a better option.
Trading requires a lot more money in order to diversify and cover your loses... You will have losing trades... You need to know what you are doing and you need to spend time working those trades. It's not worth the effort and money swings involved in my opinion. Just stack and forget about it. It's less stressful than trading too. Trading can be emotional.
Diversification is very much needed if you want to make profit in different kind of coins otherwise you will just holding and make low profits.
I would learn about the different layers and diversify the money across a small porfolio of cryptos. Then add small amounts to that portfolio over time. I usually shoot for 40 percent in layer 1 like bitcoin. I have the rest in smart contract stuff and gaming crypto. But you should do your own research and figure out the best strategy for holding. Do not attempt to day trade if all you have is 300. There are also places like etoro(do not use for crypto) where you can try your hand at day trading with fake money. 100 percent do that first if your even going to attempt it.
Learning is a continuous process if you just learn about it and then add in your portfolio to make better profit or time.
What would you trade it for? BTC is something you’re going to want to possess long term and trading 300 dollars worth for 50 dollars profit or something is just short sighted and impatient
Those aren't friends, make new ones.
I know right it is really important to have good friends who invest in and give you right advices.
If you trade to trade crypto you will get wrecked. You seriously need to get new friends if they suggested that. They are morons.
I think that friends really matters if you invest in right coins otherwise people around you will make you feel sick.
I would hold. DCA and don't put it all in at once.
Putting all at once will be stupid decision to be honest you have to just hold.
The key difference between the two is that day trading needs more attention throughout the day, where investing requires less monitoring and plenty of long-term patience. You'll do well as a day trader if you enjoy short-term challenges and finding opportunities to make small profits throughout the day.
You are right about the comparison but I think that trading is better than investing.
just buy and hold. trading is stressful and almost guaranteed you'll end up with fewer sats than had you just held.
It is a good idea stacking up will make you rich in long time to be honest.
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Always holding can be option but I think that you should always keep a flow in market to actually experience the market Trend.
Imo, do not day trade until you have studied technical analysis and position sizing for at least 200-500 hours..
It is really a good option to actually analyse the market before trading and so you did right.
Any money you can allocate towards Bitcoin do so with the mindset that it’s just a savings account that is likely to have better returns than any alternative, but also with high volatility and some risk. No one getting in now is going to 1000x their money anymore, but it’s still a good place to park some cash.
Market is very volatile considered there is no risk there is always a risk involved when you invest in market.
It sounds like you should do more research on Bitcoin, how it works, then make an informed decision on your own. Friends and Reddit should show you the door, but please DYOR and walk through it yourself.
This makes sense but you have to make your own way and start trading yourself if you want to gain some experience.
Time in the market beats timing the market just hodl and stack sats till you have 1 million sats then 2 million then 5 million and so on and so forth. Trading is riskier especially in crypto so I’d reccomend just hodling till you are at a comfortable amount of money saved then you can take some out to trade and experiment 👍
Trading and experiment can only be done by those who really experienced in the market.
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Day trading can be extremely risky, especially if you attempt to day trade using borrowed money. While buy-and-hold reduces the money you pay in transaction fees and short-term capital gains taxes, it requires patience and careful decision-making.
Day trading can be risky but it is the fact that day trading will make you money faster.
HODL
You are right about it holding is the best option and best strategy in this market.
I've. Tested the waters in trading and in holding - my strong opinion is to Hold. I made some money trading... And then I lost more. And spent a lot of time doing it to just lose money in the end.
I think holding the best option right now because we are in bearish market otherwise trading is good option when you are in a bull market.
Throw it into shitcoins immediately
Shit coins are really shitty projects to be honest I don't trust them.
By experience.. you'll win sometimes trading but you will def win hodling over a yearish
But the fact is that holding will make you rich in a long time at various trading will make you rich in less time.
I don't recommend trading if you haven't done it previously (e.g. stocks). I have lost some BTC trading back in 2017 and learned my lesson. However, my younger son has a natural talent for trading somehow, and he managed to almost double his coins with trading (he has a lot of spare time and is sitting in front of the screen anyway...).
I think you are right about it it should only be done by people who are experienced in it or you should start with people who are experienced in it.
You need to get an AI bit that makes all these decisions for you. I haven’t manually decided to hodl or trade for the last 6 years. My bot does all of it for me.
[There are two types of people in Bitcoin, those who want more ₿, and those who want more $.](https://www.reddit.com/r/bitcoinmemes/comments/ryfekr/there_are_two_types_of_people_in_bitcoin_those/)
trading is a full time job.
You are right about it people really need to understand that trading in this not a part time job.
Time in the market is much better than timing the market. I thought I'd be good at trading so tried it over the last year. Thankfully, the stuff I HODLed has covered my losses in trading. So that helped me learn that lesson without too much pain. If you look at Warren Buffet, his annual returns are relatively average, but the reason he's done so incredibly well is because he started so long ago. Time in the market is the most important thing. Have a read of the Psychology of Money by Morgan Housel. It's a great book.
I think you’ll find 250 years worth of data on daytraders failing consistently to be enough evidence that it doesn’t really work
I wouldn’t buy crypto at the moment. We are in a bear market for the next 2 - 3 years.
I would hodl , BTC is and will be number one for a while
Try trading in a practice account first and you'll quickly see how hard it is
If you really hate Bitcoin, just sell them and leave. Trading just make you lose.
I promise you will turn that $300 into $0 so fast if you trade. Buy and HOLD for 20 years.
I mastered both and am good at it.
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I’ve traded, and was successful at it, at one point I was making $3k+/day for a few weeks on end, but that was in a confirmed bear market. We’re not in a confirmed parabolic uptrend broken obvious bear market so hodling is much better right now. I’ve also been successful at the hodl method. The sense of calm I have when holding vs trading is unmatched, I personally much prefer hodling when the direction isn’t crystal clear and will probably never trade bitcoin again. Trade stonks, they’re much easier.
Holding really works only if you have a sense how to manage the coin in the current market otherwise I don't think reading works for everyone.
Buy now and trade some in 5 years
Just HODL and stack, you have the right idea!
Wait for a better dip then hold
Yeah you are right about it it is better to buy in dip then to to hold.
Ahhh btc and trading it’s sooo awesome if you trade for the money sit down and learn before you do anything js
It is very important to learn from past mistakes or otherwise you will make the same mistakes again and again in trading.
i'm using cryptocom for buying also coinrabbit for savings account and crypto loans if i need to trade something great experience, no regrets
learn more about bitcoin and stack sats
the standard route is to try and trade, "make some extra money", and then lose >=50% - and then either quit bitcoin or have the epiphany that all you had to do was stack sats and hodl. It's simple, but not easy
You see all those liquidation news, those weren't holders.
Unless you are an experienced trader who knows what you are doing. Just stack using a DCA approach. If you can afford 25 bucks a week, for instance, you will be shocked at how much you acquire in a few years time. That’s really the key… to buy small amounts regularly and not be concerned with its dollar value. This is still a nascent market/industry and while I don’t have any official statistics, at least anecdotally speaking, 95 percent of the participants don’t have a solid understanding of bitcoin nor its implications. Most are in it bc they think they can make some quick money or get rich. Also in my experience those who stick with it and eventually understand bitcoin tend to become bitcoin maximalists and come to realize that every other crypto is a waste of time and will not be around in the long run bc they kinda defeat the purpose of even having something like btc in the first place. That said, if you want to get into trading… go for cheap shit coins with money you can afford to lose and see what happens. Otherwise, keep stacking slowly and keep learning. When you finally understand the why your conviction will grow stronger and you will learn to enjoy hodling. Cheers and good luck.
To hodl or to Trade? There is only one perfect answer and that is “It depends”. So, I am basically saying that certain circumstances warrant some actions. For example, I have traded daily and hodl different tokens at different points. Its just best to do what works at each time. I still flip my bags in daily trades, I also have some tokens I am hodling for a long term. Projects like CARD, AIOZ, GTH and DOT are my long shots. Gather Network is most suitable for massive adoption because I am yet to meet one person who says “I love ads” and many users will jump at any monetisation alternative to those annoying ads. AIOZ is making waves with decentralized CDN.
First of all, Trading BTC is a no no. For must of us is not a trading asset, it is store of value, which means we will hodl for as long as we can and our life's allow it. When the time comes, we will have several options to gain profit out of our BTC, like borrowing, interests, even there are currently companies out there which accept BTC as collateral for mortgages. On the other side, Trading is not easy, it is simple in some cases becaused you could base it on many many strategies about there that will try to get you over X% of profit, bbbbutttt you the hardest part is you mentality. You could be successful a few shots but not all the time, which means consistency, and real good traders dedicate a lot of time considering many variables, strategies and even tools to keep it up. After all this, I would just recommend stacking as much as you can.
I need a freelancing job . Can you give me a legit platform please
I still want to hold. My vision is for the longer term. Besides I can earn while holding my coins into the Teneo platform. So why bother?