Kikapu wrote:Maximus wrote:erolz66 wrote:Londonrake wrote:Maximus wrote:Bitcoin doesnt cease to amaze me.
That thing is ridiculous.
Zero, or next to, charges for using.
Shielded from inflation.
Banks can't fuck around with it.
Fuck me a LR comment that warrants a response !
As LR said what's not to like Max ? I am currently sitting on just over ten times increase in worth in just under 4 years. Sure that could halve overnight, even to 1/10th but I have already taken out my initial investment. It's all gain from here as I see it. The only question is how much. Are you starting to see why for an 'investor / speculator' like me traditional trading practice, like the 'stop loss' may not be right for crypto ? If milti had 'stop loss' his losses he would be net negative right now instead of 20k up. At least that's how I see it. In crypto if you buy and price drops, just wait is my hyper sophisticated strategy. Done me better so far than some hedge funds you might mention
I dont know,
what ceases to amaze me is that in keeps going up in value,
Each time it went higher, I hesitated from buying some because I was anticipating the top and the bubble to pop.
I still think bitcoin is a bubble but I am being proven wrong time and time again. its this hesitation that will probably fck me if I finally get involved and that is what I am mostly concerned about.
Buying the top.
But yeah, if its a long term investment the key is to use little or no leverage so you can hold it without running out of collateral.
If I had invested gbp 500 in the beginning, when my friend suggested it to me, when bitcoin was 15 cents, and held until now I would be a multi billionaire today..
Would have, could have, should have.
The moral of the story is, cease the opportunity as and when it arises and have the wisdom and foresight to recognize it as such.
The problem is, most small investors sell as soon as they make a decent profit, 50%-100%, and as the prices keep on rising, they do not go back in and instead wait until it comes down to below where they sold off. Timing the market and share prices is very tough and very risky. Ideally, spend what you can afford to lose and then just let it ride come what may, then you might just hit that multi billion dollar jackpot.
Yeah. I completely agree,
Short term trading, or trying to predict the market and timing it is a skill that takes years to acquire.
Most people cant do it and it is not for most people anyway. The odds are stacked against you.
For the average person, investing should involve buying and holding for the long term.
My best advice to someone looking to get started with investing would be to invest a small percentage of your monthly salary (say 10%) into something like an ETF or stock index.
The key is regular small investments over time to average out your position and build your portfolio over time.,
Then if you want, diversify slightly in to other things, like gold, bonds, crypto, single stocks etc. and use little to no leverage, better no leverage.
This will give the highest probability of making some kind of return and minimizing the risk of loss and it requires the least amount of time and effort.
This is investing, true to form in my opinion.
