Trading ( fx , stocks , ...) & Nofap

It's a good plan. I mean if you can wait three decades of course. I have better things to do my friend. haha

 

Majority of people loose money with short term trading. I stick with boring low cost index funds for long term. Never fails me.

 

So I assume you will have at least half million $ in 30 years from not investing in the market for long term?

 

U did not learn. Fools waiting for a legdown at 16.5k... no, you learned nothing.

I was buying all the time, thats called learning something.

 

Why? I was buying after seeing strength and compounding on the pullbacks. I got one thing wrong as you pointed, I was waiting for one more shakedown, but there is nothing wrong about buying with the strength, actually that’s the safer way.
If you bought at the lows congrats, I hope you took some profits already, 30k is a strong resistance. I still want lower, but the current rise can take us anywhere from 30K to 52K, before making another low.

 

At least u bought something. Many ppl just sidelined at 16k waiting for a "legdown" and they wait till today. Anyway. I will not sell at 30k... I dont want USD. I want Bitcoin Im in for a long haul.

 

There is no certainty, but you can adjust your biases based on the price action, just can’t be too stubborn to do that. Once price shows its direction you can pinpoint certain targets where price can be headed and look at those levels as your targets.
I just sold some today, even though I know the price can keep on pushing higher. I am also taking into an account that a significant pullback might occur, to at least 26K area. I was greedy to take profits before and it did me no good so I am more cautious now.

 

I have drawn this two weeks ago. Price hit my level and I would consider myself a bad trader not to follow my plan and refuse to take profits. I am derivatives trader but I also hold some spot. When trading derivatives you take profits on levels of resistance and leave some running in case price keeps on going higher. You can also hedge short if you want, but that is trading against the trend ATM, something that requires lots of experience. So I am waiting now. If price follows my arrow I will be buyer around the 26K mark with money left aside to buy at 22K as well.

 

I'm currently on an active Put Long on options. I betted on the downside, but I'm starting to doubt my position. I still 'believe' that this position will work, but it can take a while, and holding long on options is not very smart. Theta decay is annhilating the margin. I've accumulated a significant loss so far, but i've made my mind, I mean I shouldn't be making up minds, but i've decided to let this trade run. I can see I made series of errors in my entry. Not that the price action analysis was wrong, but the timing I see I might have botched completely.

 

This question is for investing in general but: in a country with horrible economy, would : *buying jewelry (real jewelry; heavy cuban chains of silver and gold pure, luxury watches, etc) then putting them in the bank safe, and selling them to a professional jewelry house * be a wise investment plan?

 

Anything but money mate. From what u mentioned, pure gold seems the best to me. And give Bitcoin a chance - meaning - study it and decide on your own. In heavy inflation economy, its a god send. Ppl in africa use it a lot, its actually like Bitcoin is made for countries like that, and we, ppl in "stable" world, dont fully appreciate it.

But now, with 15% inflation, banks being weak, ppl are waking up. I woke up 2 years ago. I had a dream, a goal, of how much Bitcoin I want. It seemed far fetched. Last year, I got obsessed with it - that NoFap 1 year streak obsession - and than I woke up one day and realized, I reached my "far out" goal and went beyond it, in just one freaking year.

When everybody left the space, and was scared shitless, I stayed and DCAed heavy funds in, like a crazy man. Total dedication. Guess how I feel about it now...

And if I was not on NoFap, I would not be so determined, and fearless. Most likely I would not find mental strength to even start it at all!!!!

 

It seems more of an idea and less of a possiblity in practice. I mean, how are you gonna procure the asset? From where? The only thing that comes to mind is if you import it, but then selling it back in your country would incur either equivalent charges or might even cost you more.

If you're coming at this from an investment angle, then it's not feasible. You'd be better off buying Commodity ETF via discount brokers.

Don't do it. I mean, how are you even gonna do it if you do it.

 

I dont understand. Anyone can buy a physical object , store it in his bank's bank safe, and then sell it. anyone can do it. its not special. People buy gold or silver pure items all the time, but for their use as jewelry.

 

Well, if it's a single piece purchase then that makes sense. However storing such commodities in bulk sounds not very practical. if anybody is doing it, I'd like to hear from them. But as far as I'm concerned, I find the entire process cumbersome. If I really wanted to invest in gold/silver or any such commodity, I would simply purchase its electronic equivalent.

 

What is a electronic eq of gold? Hope u dont mean some virtual "note of gold purchase" because that would be pure nonsense - based on gold confiscation happening in the past, your "gold" could be dealt with with a single click.

If u mean bitcoin, than thats ok, but Btc and Gold are not mutually exclusive - meaning, you can own both. They both have their advantages. If I had to decide for only one, its BTC.

But these arguments between BTC and Gold folks make no sense, as we basically try to do the same thing. But Bitcoin additionally disrupts the system of fiat, and is more suited for the future. Also, its finite. Gold is basically infinite, same as diamonds, its very common in space, and in 30 years, when we harvest 1st asteroid, its all over.

Also, new mining spots are found regularly, tons of gold especially. Thats not ideal for a store of value, as its inflationary.

 

I like it all but the "exit" sign. Exit to fiat? Not on my watch I know u try to trade to gez more BTC and I wish u luck. I might get back to it, maybe. Still, one mistake and u stay sidelined without a entry point, loosing a lot. The market is made this way, you already know that I think. But still, good luck being that 1% who makes it.

Do u know, the best traders in the world outperformed stuff like SPY just by a few %s in a long run? And they are legends. So u need to be one as well. It takes a lot of time investment.. why just dont HODL and buy more, save your time and nerves

 

Bought BTC LTC and most importantly ADA back in 2018ish. That was during peak of btc run back then, before it dropped for idk how many years, until the great run of 2021 or whatever it was. My ADA went on a huge run of itself, while BTC was 50k+ Which meant major profits. Sold about half of it right near the peak. So yeah, holding pays off, but you also gotta sell at the right time otherwise you lose out on profits. There were people in ADA telegram group when it was peaking like crazy saying they weren’t gonna sell keep holding. Well it dropped soon after and they missed major profits. Whether BTC profits or fiat. Alt coins have greatest potential for profit because they can rise in price at the same time bitcoin rises which means extra profit. Bitcoin alone doesn’t give this kind of opportunity.

 

No it wouldn’t because jewellery is always more expensive than raw material and if no one wants your jewellery they will just melt it down and give you less money for it. Plus, even if they did want your jewellery there’s no guarantee they would give you a fair price for it. Bad idea all around unless you really know what you’re doing.

 

Sh1tcoiner detected