Quote from: Jovovich on October 02, 2017, 06:17:45 AM

Quote from: JayJuanGee on October 01, 2017, 09:01:10 PM

Quote from: philakone on October 01, 2017, 08:17:51 PM

Quote from: golfdoug on October 01, 2017, 06:27:44 PM

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#msg22416951

Your 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.

For being a trader is like an escrow man or a third party. You acquire goods to someone at low price and sell it to someone at higher price. Except there are no someone and it is just the price that is being manipulated and i waiting for the right time to sell the coin i have bought for a fair price.

I would phrase it a little bit differently because you are kind of suggesting that you have some kind of insight about fair price before fair price rises, yet I don't think about it that way because in time 1, bitcoin fair price might be x and at that price you buy some bitcoin; however, in time 2 bitcoin's price is x + $100, and you sell the bitcoin that you bought with profits. You might attempt creating your orders in such a way that you do not care if the price goes up or the price goes down. If the price goes to x - $100 then you buy some more BTC. You let the price come to you and you don't get excited about whichever direction that it goes because your orders just execute one direction or another and you tweak your plan from time to time if your goals change a little bit or if you have some changes in your sentiment.. but that change is not 100% it is just making incremental changes, like changing your increments to $150 (or $200) (when you are learning you might have your increments a little closer together just to practice but you gotta have it enough to cover the trading fees, too) or changing your quantities and hopefully stacking your orders in such a way that you are able to automatically buy even if the price drops 50% or automatically sell even if the price goes up 50%.