Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....

leo23 posted:
@togr
It is because you have no idea about cryptos trading or what cryptos are really and thinking these as commodity and may be you are trying to compare it with forex trading and that's why you are obviously free to think so.

leo23 posted:
@togr

I can only try to explain to you, but I can't guarantee as how much you will understand since it depends entirely on you based on what you already know about the foundation of cryptos.

Here is your answer in a very simplistic way:
1.If you are trading BTC or any other cryptocurrency or stocks or forex or whatever, then once you have put any money to any one of these, then you have to 100% accept that you have already lost that money the moment you have invested so there is no question of expecting what you will do after sometime if something happens etc etc. If you can't accept that as a loss from the beginning, then you should never invest at all from the beginning. That is the fundamental rule in any trading and at least in forex I assume you already know that and the fundamental law doesn't change very much in cryptotrading as well.

2. So before you buy you must have a plan when to exit or exit at all or not based on fundamental analysis and crypto news etc.

3.But my point what I am repeatedly trying to tell in many posts is that there is 99% of chance that BTC will never go to zero and it may rally much higher. Hence, you have to buy and hold. I am claiming it because of a profound reason that is because of the technology involved it .

I am not a big fan of BTC nor I am mad about holding BTC, but since it is the first cryptocurrency based on blockchain technology and there are thousands of other cryptos now based on that technology which may revolutionise the entire world in coming future and so chances of the first crypto to decrease in value is negligible until another crypto surpass BTC value. And of course, this analysis is based on my opinion, but the technology is a fact.

4.Finally, if you are very much sure that BTC price will drop then you should never buy it just because I say this or any other analyst say this, because I am not a financial adviser. I am just trying to create awareness among forex traders about the cryptocurrency and the blockchain technolgy involved which has a great future if someone just picks up some good cryptos at the right time and right price holding it for few years.

togr posted:

leo23 posted:
@togr

I can only try to explain to you, but I can't guarantee as how much you will understand since it depends entirely on you based on what you already know about the foundation of cryptos.

Here is your answer in a very simplistic way:
1.If you are trading BTC or any other cryptocurrency or stocks or forex or whatever, then once you have put any money to any one of these, then you have to 100% accept that you have already lost that money the moment you have invested so there is no question of expecting what you will do after sometime if something happens etc etc. If you can't accept that as a loss from the beginning, then you should never invest at all from the beginning. That is the fundamental rule in any trading and at least in forex I assume you already know that and the fundamental law doesn't change very much in cryptotrading as well.

2. So before you buy you must have a plan when to exit or exit at all or not based on fundamental analysis and crypto news etc.

3.But my point what I am repeatedly trying to tell in many posts is that there is 99% of chance that BTC will never go to zero and it may rally much higher. Hence, you have to buy and hold. I am claiming it because of a profound reason that is because of the technology involved it .

I am not a big fan of BTC nor I am mad about holding BTC, but since it is the first cryptocurrency based on blockchain technology and there are thousands of other cryptos now based on that technology which may revolutionise the entire world in coming future and so chances of the first crypto to decrease in value is negligible until another crypto surpass BTC value. And of course, this analysis is based on my opinion, but the technology is a fact.

4.Finally, if you are very much sure that BTC price will drop then you should never buy it just because I say this or any other analyst say this, because I am not a financial adviser. I am just trying to create awareness among forex traders about the cryptocurrency and the blockchain technolgy involved which has a great future if someone just picks up some good cryptos at the right time and right price holding it for few years.

Don understand a word what are you trying to say
then you have to 100% accept that you have already lost that money the moment you have invested?

kebayamwamba posted:
$13 a piece

togr posted:
BTW
BTC dropped from 4600 to 3000 just at the moment you recommend to go long :)

leo23 posted:

kebayamwamba posted:
$13 a piece

Nice looking chart.., but obviously funny.

BTC to go from 3K to 6K,7K,8K or even more may be within 2 to 3 months.

Hzardous posted:
I have one question. What makes you think BTC will reach 8k in 3 months?

leo23 posted:

Hzardous posted:
I have one question. What makes you think BTC will reach 8k in 3 months?

Before I give an answer let me repeat that I am not a financial adviser here and this is my personal opinion and not a financial advice. You should make your own trading decision based on your own risk management and market analysis.

Now, I don't know whether BTC will go 8K or 9K or more in 3 months and there are no exact numbers, but I do know some basic facts based on which I deal with BTC.

Here is the list:
1. BTC is the first cryptocurrency based on blockchain technology and there are thousands of other cryptos already available. So until some other crypto currency surpass the value of BTC I will be always expecting the price to go higher and higher may be 50K or 500K per BTC within 2 to 3 years and at least I expect it to continue till 2020.

2. I study both fundamental news and do technical analysis from mt4 chart using trendlines. But I don't trade BTC in mt4. I only buy BTC from exchange and save in hard wallet which eliminates the possibility of margin call or account wipe out in case of huge drawdown.

3.Anything which is fixed in its amount has a tendency to follow exponential growth based on supply and demand. So for BTC which is maximum 21 million BTC of fixed amount, as per my study BTC price has been doubling it's value approximately every 9 months from the year 2009. Now, it doesn't double exactly on 9th month, but an approximate calculation of exponential growth.

4.Now, whether it will go 8K or not within 3 months is because there was a lot of uncertainty due to Bitcoin hardfork due to which BTC price was not going up as expected in past couple of months and after everything was settled BTC price shoot up from 1800 USD to 5000 USD and this is the first big drop to 3000 USD after that hardfork settlement which is obvious after such a big rally. So there is a lot of sharp price increase is expected may be 9K or 10K or even more within a couple of months, but there are not exact times.

leo23 posted:

togr posted:
BTW
BTC dropped from 4600 to 3000 just at the moment you recommend to go long :)

Yes, you can, but only at your own risk. As I said it earlier, I am not a financial adviser and I don't advise for buying and selling BTC or any cryptos.

I created this thread just to discuss the potential behind the cryptos and the technology involved in it.

leo23 posted:
@togr
I don't take trading as an academic subject to discuss what is gambling and what is trading. You may think gambling what I call as trading and what I think gambling you may call that as trading. I am not interested in such debates.

I am only concerned about making profits and I have my own way of analysing the market different for cryptos and different for forex and accordingly I enter into market completely different in forex and completely different in crypto.

But if you think that only if I will give financial advice, then only I am trading, otherwise, I am gambling, then you can think so. As I said I am only concerned about making profit and not in making arguments.

For example, last time I said the price will go from 3000 USD to above and if I would have told you yes, you must buy now, then you might have come here and praised me since price shoot up exactly from around 2950 USD up to 4000 USD in few days which is a huge gain obviously in short time.

But if it would have gone below 2000 USD, then you would have come here saying that I don't know anything about BTC trading etc etc.

But in both the cases it doesn't matter much for me, because I am looking for big gains in long term for my BTC which I have hold and I am not going to sell BTC even if it goes below 100 USD or above 8000 USD. So I say that everyone should do their own analysis before trading and I don't give financial advice and at least not here in this thread.

Nutter21 posted:
Crypto trading is much riskier than normal Forex. I would take caution

togr posted:

leo23 posted:

Hzardous posted:
I have one question. What makes you think BTC will reach 8k in 3 months?

Before I give an answer let me repeat that I am not a financial adviser here and this is my personal opinion and not a financial advice. You should make your own trading decision based on your own risk management and market analysis.

Now, I don't know whether BTC will go 8K or 9K or more in 3 months and there are no exact numbers, but I do know some basic facts based on which I deal with BTC.

Here is the list:
1. BTC is the first cryptocurrency based on blockchain technology and there are thousands of other cryptos already available. So until some other crypto currency surpass the value of BTC I will be always expecting the price to go higher and higher may be 50K or 500K per BTC within 2 to 3 years and at least I expect it to continue till 2020.

2. I study both fundamental news and do technical analysis from mt4 chart using trendlines. But I don't trade BTC in mt4. I only buy BTC from exchange and save in hard wallet which eliminates the possibility of margin call or account wipe out in case of huge drawdown.

3.Anything which is fixed in its amount has a tendency to follow exponential growth based on supply and demand. So for BTC which is maximum 21 million BTC of fixed amount, as per my study BTC price has been doubling it's value approximately every 9 months from the year 2009. Now, it doesn't double exactly on 9th month, but an approximate calculation of exponential growth.

4.Now, whether it will go 8K or not within 3 months is because there was a lot of uncertainty due to Bitcoin hardfork due to which BTC price was not going up as expected in past couple of months and after everything was settled BTC price shoot up from 1800 USD to 5000 USD and this is the first big drop to 3000 USD after that hardfork settlement which is obvious after such a big rally. So there is a lot of sharp price increase is expected may be 9K or 10K or even more within a couple of months, but there are not exact times.

Only safe investment according to your postulate would be hard gold under your pillow.
Even though BTC value has risen significantly you can always loose money with it
be it technical failure, hacker or another