Quote from: TheGreatPython on July 03, 2021, 08:24:47 PM

Quote from: CryptopreneurBrainboss on July 03, 2021, 05:51:32 AM

Quote from: Cherylstar86 on June 30, 2021, 10:31:11 PM

I didn't have to set it up, because I lost already regardless of bear or bull market. All I need to do as of now is to hodle in order to survive and take my gains for future market recovery.

That's the easiest way out or you can increase you chances of profiting more buy trading. Your trading here doesn't have to do with profit seeking but increasing your bag. Lets assumed you had 0.2 BTC and already the market is against you if you were to put stop losses and sell but you can used that in your favour by selling now and rebuying when the market dip further.

This isn't to be done immediately but you can observe the market yourself and engage when you see the opportunity like if the resistance level wasn't successful broken which means a retest of the support level is bond to occur, you can take advantage of this by placing a stop loss order, wait for the maket decline then rebuy and having more coins at the end.

This can be repeated on different occasions and if you get your predictions right, you wouldn't have to wait for a full market recovery to be at profit again. As a trader you should be comfortable trading in every market scenario whether it's bullish or bearish.

I do not know how easy that is to do. I understand that you think some people can do it but it is not that easy and there are many people like me who can't do it, which is why I think we should not even try it. I have tested it before and I sucked at it so now I am not even looking at it, which I think I will continue to do in the future as well. This isn't to say that other people should not do it, if you are capable of being a great trader then go ahead and do that, nobody can stop you from doing it.

However one thing is for sure, if you are trying to do something that you are having hard time understanding then you are going to end up losing a ton of money, that is just simple facts of life. Only go with the thing you can understand and holding is very simple, there is nothing to understand, just buy and do nothing else and that's it, very simple.

That's true until some extent. Trading is not for everybody but at the same time we should put in enough efforts and practice a lot to learn to trade correctly.
Yes we do lose our money in the beginning due to our mistakes but we only learn when we make mistakes.
This is why we should not put huge money in the beginning. Start with a low amount and gradually increase when the profits come in.
Even I had started to trade a few years ago but since I was losing money I took a break and learned more about the analysis and started to trade again recently.
Identifying mistakes and learning from it the best strategy IMHO.