Why I'm Against Futures or Buying and Selling Every Day for Short-Term Gains!
A few years ago, I conducted an experiment with my brother. Both of us are into crypto, and we used to argue a lot about long-term vs. short-term strategies.
The experiment went like this: he was trading every day, including futures and spot trading, and following big names on YouTube, "learning and studying" charts, etc. On the other hand, I was comfortably sitting in the spot without making any movements. I staked all my funds and didn't take any action with them.
This went on for two years straight for both of us. Fast forward to when we started drawing conclusions from our experiment. We discovered some interesting hidden truths:
1. Trading daily or constantly moving your funds around is a waste of time and money.
2. Because he kept moving his funds from one coin to another, he missed out on significant pump opportunities, while I gained the most from them.
3. Over the two years, he suffered mentally and emotionally, relying too much on himself. It got to the point where he couldn't sleep at night due to stress.
4. He once told me, "Charts are the results of actions that have already been taken. You can't predict or analyze anything. The actions happen in different rooms; people buy and sell, and you see it on the charts after a minute or two. There's a delay."
5. We both agree that sitting in the spot, paying less attention to constant trading and studying, is much more rewarding. Just invest and forget about it!
From this experiment, we both learned a lot. We understood what we needed to do. Now, my brother acts the same way as me. He sits comfortably in the spot and deposits weekly, focusing on buying and holding for the long term.
Don't put all your eggs in one basket. Have you ever heard this saying?
If you have under $100, invest in only 2 coins. There's no need to buy a bunch of different coins with $100.
If you have $500, invest in 2-3 coins. If you have $1000, invest in 5 coins or less. Why am I saying these things? Firstly, perhaps you've invested $10-$20 in one coin; there are no big rewards, no matter how high the coin pumps. But with $100 in one coin, it plays differently.
The second component is time. I'm talking about at least a year or more. The big whales are sitting in the market with millions. They don't care about pumps and dumps in the short period of time, they don't need these millions for their living needs. They are staying calm, watching the market. When there's a dump, they buy more to lower their average buy price.
Instead, a person with low capital who is trying to make a living from crypto moves when the market moves. When the market goes up, they sell immediately. Sometimes there is no deep dump, making it hard to come back for the right position. Be patient!
Sometimes you need to buy and forget, do something else. Don't think money comes from one income, have a few incomes, period. Okay, you have a small, nice bag in crypto. Now, work on something else. Work on your skills, business, how you can provide value to society.
Losing Money in your First Years in Crypto Is Normal! Even Experts Are Losing money! This is suppose to be like that!
No matter what you are doing in your life .. you will always seek evolution through the process.
The process takes time, Crypto isn't easy! same with the material world, it takes few good years only to understand what's going on, especially if you're coming without no background about it or financial Education in general.
It's like you starting to play an FPS game, and you are not good at the Beginning. it takes time, dedication, skill, and a lot of more components to getting better.
Take it easy! like I have mentioned it Before! Money comes and money goes! The key is to learn to handle it with purpose!
If you want to earn on Spot, You need to wait! for how long? probably the whole Bull market cycle ... It's very hard to earn on Spot, Especially Daily or Weekly ...
We don't know where the Market is going, So for you saying "oy I could sell here, and rebuy later" it's a lie .. You couldn't predict the future. so do yourself a favor don't be hard on yourself!
Deposit monthly 10% - 20% Of Your salary! and just be on Spot!
Choose Carefully Coins that is actually bring Value to the Crypto Space and not speculation!
Look Only for a Long Term! At Least 5 Years from now!
People in general think whales are the ones who manipulate the market and take all the money from them, while it's actually the exchanges!
When you "bet on futures," perhaps you are buying because you think the price will go up. The moment you click buy, the exchange itself opens a sell position with the same amount that you opened. It's actually the big whales who are giving you "fish" from time to time. Sometimes, the exchanges don't have as much amount as the whales do to cover the opposite position against whales, so the exchanges are losing.
Stop hating on whales! they are the ones who are giving opportunities to the big sharks and hamsters in the market."
If you have an NVIDIA GPU 2070 or higher, you can earn around $0.5 a day through mining. And if the coin itself surges in value, today's $0.5 could become $1.5 or even $2 a day in the future.
Think about it, if you start mining today and refrain from selling your daily profit for short-term gains, those mining rewards could be much higher during a bull run if you avoid selling immediately.
It's never too late to start if you have a good GPU from AMD or Nvidia. You have a secret, profitable worker.
If you're interested in more details on how to start mining with a real GPU, feel free to like and comment 'Mining Guidance.' If there is enough interest, I will post guidelines in the next few days.
I'm sorry to disappoint you, but if you have less than $100, it will be much harder for you to grow your portfolio.
I guess you are a newbie, and you have heard a lot of gossip about the crypto industry, how 'X' has made a fortune from nothing. "From $5 to $10k"… I'm sorry to disappoint you, but it's a lie. And if there were people who made it from scratch, they probably got very lucky or knew exactly what they're doing.
In your case, if you're a newbie in crypto, you need at least a few years just to get used to it.
Please don't be delusional and think luck is on your side. Luck could be on your side, but luck comes in different shapes and forms, like health, good relationships, etc.
I don't want you to lose money. The moment you lose money, your money is not in the exchange, your money is with somebody else who was smarter than you in the market, You're competing with real people, people who are breathing and are eating, the market for Breakfast.
Before you rush to make "millions" in crypto, why haven't you made millions until now, without crypto?
Your reply would be: "It's hard," "I don't know how."
Exactly!
Same here in crypto. It's hard, it's unknown, it's luck.
As I've been scrolling through different posts, I've noticed a lot of scams and misleading stuff in the Binance feed. I want to make sure everyone stays safe and knows how to spot these tricks. Let's talk about some easy ways to protect yourself and avoid falling for scams.
1. Fake Emails or Websites: Scammers might send emails or create websites that look real, asking for your login details. Always double-check the website's address and don't click on suspicious links.
2. Too Good to Be True: Be cautious of offers promising big profits quickly. Scammers might ask you to invest in something that doesn't really exist, just to take your money.
Example: Tip 1$ = 0.1 BTC, etc ...
3. Copycats: Some scammers pretend to be famous people or companies to trick you into sending them money. They might even use fake social media accounts.
4. Fake Apps: Only download apps from trusted sources. Scammers create fake apps that look like real cryptocurrency wallets to steal your money.
Example: Cloud Mining apps, "50$ in 10 minutes"
To stay safe, use strong passwords, don't share your private keys, and always double-check before sending money or sharing personal information. Keep learning and ask questions if you're not sure about something!
The perfect strategy to buy when the market is down!
Perhaps you have some free money that you want to invest.
You always hear that big players are buying the dip when the market is down.
How are they doing it?
Let's say you have $100, and the market is gradually decreasing, this trend might continue for some time perhaps a month or even longer.
So, You don't buy with the whole $100 at once. Today, you buy 10%. In a few days, if there's more of a dip, you buy with 20%. The next week, if the price drops again, you buy with 30%, and so on.
Everything revolves around your average buying price.
The more you buy during the dip, the better(lowest) your average buying price becomes.
Yesterday's events were a great example of applying this strategy with 10% to 15% of your funds for buying. Now, we're waiting for the next moves..."