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Nairaland Forum / Nairaland / General / Investment / Why Is No One Talking About How Frustrating Crypto Is? (432 Views)
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Why Is No One Talking About How Frustrating Crypto Is? by breetapp: 4:39pm On Sep 22, 2022 |
It seems like cryptocurrency is always in the news, but no one ever talks about how frustrating it can be for traders. Imagine you're a crypto trader. You work hard to make your money, and now it's all gone. You've invested a lot of time and energy into this project, and it just… vanished. Now imagine that this happened to you because of someone else—someone who has the power to decide whether or not your investment will succeed or fail. That's exactly what happens when you invest in cryptocurrency! You can't control the market like that, no matter how hard you try. Cryptocurrency is a complicated and volatile market that often requires you to make decisions based on gut feelings and hunches. You'll never know what's going to happen next, so you must rely on your instincts to stay afloat. The problem? That's really hard! It's like playing roulette—you don't know where the ball will land, so you have to spin it as many times as possible (or until all your money has been spent). It's not just the volatility that can be stressful; it's also the instability of knowing when one coin is going up or down compared with others. If one coin happens to get more attention than the others, then it could mean trouble for everyone else—and they will try to take advantage of this fact by driving prices down even further. So what do you do if you want to make money trading crypto? You need a strategy that works every time so that you don't get burned by bad luck or bad timing (or both!). But, do you know the strategy? What strategies? Tell us in the comment section, your unique story of how cryptocurrency has frustrated you!!! 1 Like
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Re: Why Is No One Talking About How Frustrating Crypto Is? by rusher14: 4:57pm On Sep 22, 2022 |
Re: Why Is No One Talking About How Frustrating Crypto Is? by Samuel1402(m): 5:38pm On Sep 22, 2022 |
I actually want to learn how to trade crypto, need someone who will put me tru. one on one meeting prefered |
Re: Why Is No One Talking About How Frustrating Crypto Is? by odysey: 6:37pm On Sep 22, 2022 |
Samuel1402:what state you in On-line best for now So many free videos online |
Re: Why Is No One Talking About How Frustrating Crypto Is? by odysey: 6:40pm On Sep 22, 2022 |
Selling off is not an option, reshuffle what you have, buy more if possible Buy low sell high Use/learn price action, chase airdrops and buy Ido/icos Learn shorts/longs Join crypto communities Best Wishes 1 Like |
Re: Why Is No One Talking About How Frustrating Crypto Is? by Reggaemich(m): 9:28pm On Sep 22, 2022 |
odysey:most crypto traders that are frustrated, Are the ones that do FutureTrading Spot traders experience lesser risk compared to future traders 1 Like |
Re: Why Is No One Talking About How Frustrating Crypto Is? by iLegendd(m): 10:10pm On Sep 22, 2022 |
I'm too lazy to read what you wrote, but based on the title, crypto is not frustrating if you learn TA and develop some strategies. What is making it seem frustrating is greed and desperation to blow as fast as possible with crypto. No long term plans. Imagine you have a million dollar in your account. In fact, let's just use $1000. What will most of you do? Use everything to trade instead of trading with just $200 for a week or month as you learn and observe the market. The remaining $800 will be in USDT. Some of you will even use everything on Futures trading with high leverage hoping for miracle to happen and before you know it, you lose all. Anyone who complains about crypto has a gambling mentality. For those who have never gambled, they plan. If you give a smart person that $1,000 to trade crypto, he will open accounts in 10 different exchanges and send $100 to each, then rest. He won't trade, but will be monitoring the market. Any day the market goes down so terribly, he will use one of the accounts to buy spot with $50 and leave the other $50 for some minutes or hours to see what happens again. Or, he will use the other $50 the mess around with longing the market or even shorting it. To a greedy and lazy person, this sounds tedious and unproductive. He wants big profit, not a $50 trade, but wise a man has a plan for such strategy. He focuses on cumulative income/profit. He has backups. He will make more profit in crypto and have more peace of mind than greedy people who go all in with all their money. If you buy $APE with $50 and it crashed to $35, you won't panic or leave the market. You'll use your second exchange to continue with your trade. Before you get the your 6th exchange, APE has started going back up. You don't trade with all your accounts in 1 day or even 1 week. At times, when you're at loss, just rest. The market may dip even more. This method will allow you to short with an account and long that same coin with another account in another exchange with a low leverage that won't get you liquidated. You can even do the long and short in one account. People turn $10 to $1000 with this method + patience. 9 Likes |
Re: Why Is No One Talking About How Frustrating Crypto Is? by odysey: 10:37pm On Sep 22, 2022 |
Reggaemich:not entirely true In fact it's future traders flexing those using x5 or x3 For spot traders that bought during the highs last year almost 80% of their investment lost until the next bull cycle |
Re: Why Is No One Talking About How Frustrating Crypto Is? by Reggaemich(m): 10:45pm On Sep 22, 2022 |
odysey:spot trader's mostly trade on a daily basis, sometimes weekly, they trade using TA ,they Buy,Sell after making profit and then rinse and Repeat The people u talk about are investors, they buy a coi.n and leave it in there wallet for long, hoping it moons |
Re: Why Is No One Talking About How Frustrating Crypto Is? by angelfallz(m): 10:14am On Sep 23, 2022 |
Everything you said can be applied to Forex trading too. If you are trading based on gut feelings or hunches, you are not serious. You need to settle down, learn technical analysis, and understand the fundamentals of the token or coin you want to invest in. |
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