Define "Trader" for me, Please.
I am a newbie and have bought stocks for over 50 years. I am excited to buy my first bitcoin, but the old school concept of buy and hold kicks in so where does the "Trade" part kick in? Can you give me a step by step, "A day in the life of a Bitcoin Trader". ie - I set up an account with the Coinbase Exchange and then to stay in sync, I registered for a Coinbase wallet and then bought a Ledger Nano S for security and only then tentitively bought $50 worth of Bitcoin from a Bitcoin ATM machine at the Exxon Gas Station at the corner of Alpha and Beta in downtown Chicago. I held up my iphone to the QR code on the screen and my Bitcoin software grabbed the encryption code .... well you get the idea. I need a step by step primer as to what the "Trader" does to Trade. Thanks for reading.
I posted this on another subject, so please excuse me if it is cross-posted. D
Check out this post.
https://bitcointalk.org/index.php?topic=2221007.msg22416951#msg22416951Your description of trading differs from mine in that you use the charts to time the market - and I engage in automatic trades as the price goes up, I sell and as the price goes down I buy. It appears that your system could make me more money (perhaps?), but for some reason, I cannot bring myself to increase or decrease my BTC trading amounts or my trade/price increments based on those kinds of chart indicators... Sure, it could be my familiarity and comfort, and yeah your description of the RSI seems pretty decently indicative of changes in likelihoods.