Tag: hodl

  • Is It Possible to Lose Money Trading BTC and Crypto?

    Is It Possible to Lose Money Trading BTC and Crypto?

    Is It Possible to Lose Money Trading Bitcoin and Crypto?
    Never trade Bitcoin or any other crypto without a strategy.

    By Guy Avtalyon

    Yes, it is possible to lose money trading BTC and crypto. It is, at the same time, one of the prettiest ways to be rich or poor.

    First of all, trading cryptocurrencies is not an easy task – it is a CHALLENGE and FIGHT!
    That’s the point!

    Frankly, you are not the only one who loses money right now. But remember like in a war: the Lost battle is not lost war.

    It shouldn’t be the question of WHY people lose money in crypto trading (it’s almost the same in every trading), the challenge is how people manage it in general.

    Crypto trading is one of the best “money-making” methods today. If done right you can’t lose money. If not it so easy to lose money trading BTC.

    In order to avoid failure, Traders Paradise will introduce several reasons why people are losing money by trading crypto.

    Is there a reason to get panic?

    Well, actually there is no reason.

    One of the biggest and most important tools that traders have is technical analysis.

    But there are so many and plenty of ways to lose money! Trust me!

    For example, you can use social media predictions. Or you follow someone in the hope that he/she knows what to do.

    And there can be the first catch.

    You can lose money if you can become a victim of fake news. Because naturally, marketing always goes through these channels to keep up with the current information highway traffic. It wouldn’t be a good idea to buy coins by following “Tips” given by ICO’s or people that are trying to sell their coins to increase the value of what they have.

    Right? They’re trying to create a fake “hype” that can end up in disaster.

    That’s why you should always do your own researches. Clear?

    FOMO or “Fear of Missing Out” is something that most people are actually feeling today. The Bitcoin train left the station a long time ago leaving people with doubts which altcoin could be the next rocket star. When Bitcoin has soared up to heights that no one has ever dreamed, a lot of people were in awe and dismayed that they didn’t buy BTC earlier.

    This sense of lost opportunity again triggers, always when a price of a coin goes up making people buy at the wrong time (the price is high, damn) with the fear of it not going back down.

    Strategy!!!

    Of course, you MUST have a strategy! Crypto trading is very severe. Before entering the crypto trading you have to be well prepared. Otherwise, you can lose money trading bitcoin. Entering into the space of crypto trading without having any strategy ready for use is just like putting a hand into the basket full of dangerous snakes.

    You will not survive! You should buy some books about trading strategies.

    “Hold on for dear life.” HODL, damn! Crypto trading platforms or websites have a feature known as “Stop Loss”. There you will be able to control the loss of your assets by setting a “safety net” that would stop your loss on time and not drag you down to limbo. Limbo is not a good place!

    Leverage! Too much of it is bad.

    Leverage can be devastating if not used properly. It is when a trader uses borrowed money to increase trading position beyond what such could from existing cash balance on the trading account. The broker allows leverage through margin trading and borrows missing funds

    If you are trading with a 20:1 leverage you can earn $20 if the price of your trade goes up by $2.

    But if your investment loses and it goes down $2 you also lose $20 instead of earning when the price goes down.

    A leverage trade is always expressed as a ratio: for a 20:1 leverage, you will be able to buy $20 assets with only $1. Old trading saying is “Do not ever trade more than you can afford to lose!”

    The most popular adage in the trading world refers to a making margin trading or the use of leverage to go beyond the line of trading more than you can afford.

    Since you are already in debt the minute you took the leverage.

    And now you have the right reason to invest some time in learning.

    You don’t need a degree! All you need is to read and to make a decision or you will face all ways of successfully losing money in trading Bitcoin and crypto.

    Good luck!

  • Small Crypto Dictionary – The Words You Never Heard

    Small Crypto Dictionary – The Words You Never Heard


    How did I decide to write this crypto dictionary?

    By Guy Avtalyon

    The Small Crypto dictionary is a necessity and you will see why.

    It was like this.

    One day I decided I would become a cryptocurrency trader. Well, it was more of my wish than a decision, actually.

    “How do I start trading crypto? Is there a dictionary??” – And didn’t find one…

    Anyway, my first thought was that it is necessary to know the terminology in order to communicate and understand what other people talk about.

    Therefore I joined a trading chat room.

    Frankly, I joined a lot of trading chat rooms. I wandered from one to the other trying to understand what these people are telling at all. I was not able to understand any of their conversations. The people inside were using jargons and terminologies that I had not ever heard in my life.

    And it is completely true! If you are new to Bitcoin and the cryptocurrencies, you may not know what any of these words mean.

    You recognize this situation, do you?

    The misspellings are not as you might think

    You must have noticed people misspelling “HOLD” as “HODL” even when they have an auto-correct feature on their phones or computers. Have you?

    This was my first unknown word. Like I heard for the first time in my life word NUKELAR instead of NUCLEAR.

    OK, I was laughing then, but crypto is a serious field. Hence, I took it as a serious field.

    The point is that in these crypto communities, offline or online, a new breed of lingo has developed. If you don’t know these jargons, you might feel left out and more than a bit puzzled.

    Honestly, I was.

    That’s why I want to get to know you with these new words and clarify their meaning.

    HODL (wtf)

    I read the sentence “I AM HODLING” on some forum.

    Well, what happened to this man, I don’t know. Maybe he was angry that the price of Bitcoin had fallen, I do not know. Maybe he was drunk too. But since then,  this misspelled term became very popular in the Bitcoin and cryptocurrency world. 

    Basically, “HODL” was originally a typo which has now popularly earned the status of a humorous backronym:

     

    “HODL” – “Hold on for dear life”

    When someone says that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, even if is not today.

    And you’ve probably seen some other jargon that you don’t know the meaning.

    Small crypto dictionary for some common crypto-terms:

    * FOMO – Fear of missing out. Wiki definition is – A pervasive apprehension that others might be having rewarding experiences from which one is absent.
    * BEAR – This means a trader/investor who believes the prices of a particular cryptocurrency or market will fall and wants to profit from that fall.
    * ATH – All time high. This means that the price of a certain cryptocurrency or coin has broken all of its past records and is trading at the highest price it has ever achieved.
    * WHALE – Term borrowed from gamblers. It means a trader with a fat account, one who thinks the market will rise on the price of any specific cryptocurrency. These people are also referred to as bullish whales.

    * BEARWHALE – Trader with a fat account who is bearish on the price of a cryptocurrency.
    * BAGHODLER – Investor or a trader who has been holding (or hodling) for too long on a particular cryptocurrency and now has to face the consequences of that decision.
    * REKT – Misspelling of “wrecked”. This means a trader or investor who is completely ruined and destroyed with losses from the current downfall of a price.
    * TO THE MOON – The price of some coin will one day go to the moon!
    * ADDY – Cryptocurrency public address (or key). For example: “Tell me your ADDY.”
    * FUD – Fear, uncertainty, and doubt.
    * CHOYNA – A intentionally distorted way of referring to China.
    * SHITCOIN – A coin with no potential value
    * SHORT – Margin bear position
    * LONG – Margin bull position

    Strange terms in the crypto dictionary

    * SWING – Zig-zag price movement (ups and downs)
    * REVERSE INDICATOR – someone who never nail price movements, always wrong predictions
    * PUMP – Upward price movement
    * DUMPING – Downward price movement
    * OTC – Over the counter
    * DUMP – To sell off a coin
    * BTFD – Buy The Fucking Dip (meaning buy a coin when it has dumped so hard)
    * ASHDRAKED –  A situation where someone lost all money
    * DILDO – Long green or red candles on graphics
    * ALTCOIN – Any cryptocurrency which is not Bitcoin

    These are some of the jargon I’ve found on forums and chat rooms. Also, it was pretty funny when I saw new jargon on the internet and I had a lot of fun to find out the meaning of those words. That’s why I wrote this crypto dictionary.

    For more check Trading dictionary

    Well, if you find some new, let me know. OK?

     

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