Post
Topic
Board Bitcoin Discussion
Re: HODL bitcoins, you can do it! Look at HODL camp map to build up strong hands
by
Dailyscript
on 12/03/2024, 11:44:59 UTC
~snip
I will not want to encourage anyone to trade Bitcoin, it most times don't end well and make people have bad things to say about bitcoin. As we are discussing how to hold for long time, discussing trading of bitcoin here might be out of place. There is a proper section for trading and that place is agoge with different trading strategies that can be used to supposedly increase the Bitcoin.

You already supported the fact that buying and holding bitcoin is the safest way to invest in Bitcoin, why will you jettison the safest way for some risky way with promise of huge gains that is not even guaranteed? It is not the best way to go about investing in bitcoin. I started as a trader so I know how tricky it can be even to those who think they have mastered the skills. More often than not, people end of losing their entire assets to trading when they were hoping to make major wins. Therefore, buying bitcoin and holding is the best approach.

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Most people will say there are experienced and professional traders who know how to make a good profit when trading bitcoin. It makes me wonder whether these people do not lose when trading. They have made it sound like they are perfect traders and that nothing goes wrong when they trade. My dear, there is nothing like a perfect trader; rather, I will call them gamblers who get lucky most of the time. The risk in trading is what i cannot see myself doing. Only one person who is financially strong, like a wealthy person, may be comfortable trading bitcoin.

And I also don't understand why someone would choose to trade rather than invest for a long time. Its just like someone coming down from a train and starting to use his leg to work. Trading takes you a long time to achieve your target. Since it involves losing and winning every day, it delays accumulating enough bitcoin unless that was not the plan in the first place. Something that would take you a year to accumulate might end up taking you a year and extra half.