I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Now you’re in mate I’m excited. The seal of an experienced investor means big things for cryptos ;-)
Bitcoin in at 48495, out at 50,144, a whopping 3.4% profit I'll be back in sub 49,000 and out again at maybe 51,000.
ETH I'm still up just over 5%, might take my profit if it makes 8%
All very small monetary amounts for now, but have a bond maturing tomorrow so...........
your experience in legacy markets will really help you imo. Still learning as i go, absolute classic though you'll waltz in and make more this cycle than the rest of us
Possibly % wise but the amount I'm wagering I very much doubt in monetary terms, I'm back in BTC at 48,870 will sell at 50,250. Or double down at 46k....... in fact as I type this just sold out at 50,257as breached 50,250. Took less than 4 hours.
The one thing I've learnt over the years is not to get greedy. Whenever I've bought shares to trade (ie not necessarily long term hold) I set my sale price and stick to it (much easier these days with limit setting), otherwise it's very easy to hold and hold and then it drops. For normal shares that's (depending on initial price) for me 7.5-10% tops.
I think it should be possible to make 1-3% a day on average from what I'm seeing (on a 30 day cycle), just make sure you have a stop loss to close out your positions if you are day trading and not up looking 24/7! I'm not leveraging at the moment, too volatile.
If you can average 1% a day on £10k , say 4 days a week that's £20k a year.
My other rules would be; don't put more than 15% into anyone share (coin) although they do seem intrinsically linked for the most part, if you can be really on the ball, bitcoin tends to lead the way on up's and downs with the others like ETH following 3-5 minutes later. So have a small holding of BTC, when you see it spike and drop, then is the time to sell the others (assuming you bought them at a lower value!).
If you are free trading also open up numerous positions. i.e. if you are buying $250 of BTC, buy in 5 lots of $50, you can then vary your TP and SL.
Lastly on SL, I take a multiple of what I'm looking to profit, i.e 5x max. So If I'm looking to make 3% SL at 15% but the coins are pretty volatile so might extend that a bit.
Now you’re in mate I’m excited. The seal of an experienced investor means big things for cryptos ;-)
Bitcoin in at 48495, out at 50,144, a whopping 3.4% profit I'll be back in sub 49,000 and out again at maybe 51,000.
ETH I'm still up just over 5%, might take my profit if it makes 8%
All very small monetary amounts for now, but have a bond maturing tomorrow so...........
your experience in legacy markets will really help you imo. Still learning as i go, absolute classic though you'll waltz in and make more this cycle than the rest of us
Possibly % wise but the amount I'm wagering I very much doubt in monetary terms, I'm back in BTC at 48,870 will sell at 50,250. Or double down at 46k....... in fact as I type this just sold out at 50,257as breached 50,250. Took less than 4 hours.
The one thing I've learnt over the years is not to get greedy. Whenever I've bought shares to trade (ie not necessarily long term hold) I set my sale price and stick to it (much easier these days with limit setting), otherwise it's very easy to hold and hold and then it drops. For normal shares that's (depending on initial price) for me 7.5-10% tops.
I think it should be possible to make 1-3% a day on average from what I'm seeing (on a 30 day cycle), just make sure you have a stop loss to close out your positions if you are day trading and not up looking 24/7! I'm not leveraging at the moment, too volatile.
If you can average 1% a day on £10k , say 4 days a week that's £20k a year.
My other rules would be; don't put more than 15% into anyone share (coin) although they do seem intrinsically linked for the most part, if you can be really on the ball, bitcoin tends to lead the way on up's and downs with the others like ETH following 3-5 minutes later. So have a small holding of BTC, when you see it spike and drop, then is the time to sell the others (assuming you bought them at a lower value!).
If you are free trading also open up numerous positions. i.e. if you are buying $250 of BTC, buy in 5 lots of $50, you can then vary your TP and SL.
Lastly on SL, I take a multiple of what I'm looking to profit, i.e 5x max. So If I'm looking to make 3% SL at 15% but the coins are pretty volatile so might extend that a bit.
For your TP do you set orders at the closest resistance level?
Now you’re in mate I’m excited. The seal of an experienced investor means big things for cryptos ;-)
Bitcoin in at 48495, out at 50,144, a whopping 3.4% profit I'll be back in sub 49,000 and out again at maybe 51,000.
ETH I'm still up just over 5%, might take my profit if it makes 8%
All very small monetary amounts for now, but have a bond maturing tomorrow so...........
your experience in legacy markets will really help you imo. Still learning as i go, absolute classic though you'll waltz in and make more this cycle than the rest of us
Possibly % wise but the amount I'm wagering I very much doubt in monetary terms, I'm back in BTC at 48,870 will sell at 50,250. Or double down at 46k....... in fact as I type this just sold out at 50,257as breached 50,250. Took less than 4 hours.
The one thing I've learnt over the years is not to get greedy. Whenever I've bought shares to trade (ie not necessarily long term hold) I set my sale price and stick to it (much easier these days with limit setting), otherwise it's very easy to hold and hold and then it drops. For normal shares that's (depending on initial price) for me 7.5-10% tops.
I think it should be possible to make 1-3% a day on average from what I'm seeing (on a 30 day cycle), just make sure you have a stop loss to close out your positions if you are day trading and not up looking 24/7! I'm not leveraging at the moment, too volatile.
If you can average 1% a day on £10k , say 4 days a week that's £20k a year.
My other rules would be; don't put more than 15% into anyone share (coin) although they do seem intrinsically linked for the most part, if you can be really on the ball, bitcoin tends to lead the way on up's and downs with the others like ETH following 3-5 minutes later. So have a small holding of BTC, when you see it spike and drop, then is the time to sell the others (assuming you bought them at a lower value!).
If you are free trading also open up numerous positions. i.e. if you are buying $250 of BTC, buy in 5 lots of $50, you can then vary your TP and SL.
Lastly on SL, I take a multiple of what I'm looking to profit, i.e 5x max. So If I'm looking to make 3% SL at 15% but the coins are pretty volatile so might extend that a bit.
For your TP do you set orders at the closest resistance level?
For coins to an extent, but does in part depend where I buy at and it also seems quite liquid dependent on the level of the last sustained drop. If you look at BTC over the last day chart, it's broadly at the 50,500-51,000 level so I'd like to TP at a reasonable amount below that.
I'm still learning on the coins, but I think the volatility as long as you are sensible with your SL and accept some days you won't make, also splitting your cash into not only different coins but in multiple positions for each it's hard to see losing much for long.
Maybe today if it gets there or tomorrow I'll open 5 positions on BTC at between 48.2m & 48.8k with SL at around 40k and TP I'll vary between 50,250 and 50,750. That said it'll probably never get back to that level :-) I can see 51k again in the next few hours.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Thanks doc.
Obviously everyones circumstances are different but how much would you say is a good amount of money to start with.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Thanks doc.
Obviously everyones circumstances are different but how much would you say is a good amount of money to start with.
Now you’re in mate I’m excited. The seal of an experienced investor means big things for cryptos ;-)
Bitcoin in at 48495, out at 50,144, a whopping 3.4% profit I'll be back in sub 49,000 and out again at maybe 51,000.
ETH I'm still up just over 5%, might take my profit if it makes 8%
All very small monetary amounts for now, but have a bond maturing tomorrow so...........
your experience in legacy markets will really help you imo. Still learning as i go, absolute classic though you'll waltz in and make more this cycle than the rest of us
Possibly % wise but the amount I'm wagering I very much doubt in monetary terms, I'm back in BTC at 48,870 will sell at 50,250. Or double down at 46k....... in fact as I type this just sold out at 50,257as breached 50,250. Took less than 4 hours.
The one thing I've learnt over the years is not to get greedy. Whenever I've bought shares to trade (ie not necessarily long term hold) I set my sale price and stick to it (much easier these days with limit setting), otherwise it's very easy to hold and hold and then it drops. For normal shares that's (depending on initial price) for me 7.5-10% tops.
I think it should be possible to make 1-3% a day on average from what I'm seeing (on a 30 day cycle), just make sure you have a stop loss to close out your positions if you are day trading and not up looking 24/7! I'm not leveraging at the moment, too volatile.
If you can average 1% a day on £10k , say 4 days a week that's £20k a year.
My other rules would be; don't put more than 15% into anyone share (coin) although they do seem intrinsically linked for the most part, if you can be really on the ball, bitcoin tends to lead the way on up's and downs with the others like ETH following 3-5 minutes later. So have a small holding of BTC, when you see it spike and drop, then is the time to sell the others (assuming you bought them at a lower value!).
If you are free trading also open up numerous positions. i.e. if you are buying $250 of BTC, buy in 5 lots of $50, you can then vary your TP and SL.
Lastly on SL, I take a multiple of what I'm looking to profit, i.e 5x max. So If I'm looking to make 3% SL at 15% but the coins are pretty volatile so might extend that a bit.
For your TP do you set orders at the closest resistance level?
For coins to an extent, but does in part depend where I buy at and it also seems quite liquid dependent on the level of the last sustained drop. If you look at BTC over the last day chart, it's broadly at the 50,500-51,000 level so I'd like to TP at a reasonable amount below that.
I'm still learning on the coins, but I think the volatility as long as you are sensible with your SL and accept some days you won't make, also splitting your cash into not only different coins but in multiple positions for each it's hard to see losing much for long.
Maybe today if it gets there or tomorrow I'll open 5 positions on BTC at between 48.2m & 48.8k with SL at around 40k and TP I'll vary between 50,250 and 50,750. That said it'll probably never get back to that level :-) I can see 51k again in the next few hours.
Back in at 48,144 to 48,195........ get ready for it to plummet ......
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Binance does now offer withdrawals to bank.
Any chance you can explain how to do this? As I spent some time trying and eventually concluded that it wasn’t possible.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Thanks doc.
Obviously everyones circumstances are different but how much would you say is a good amount of money to start with.
whatever you can afford to lose.
I invested £2000 on 21/02/21 in Bitcoin and less than 36 hours later that share had dropped to below £1500. I use Coinbase as I have no idea what I'm doing, as my investment acumen might suggest. My plan is to leave in for 3-5 years and see where it ends up.
I must say I've taken a slight bit of interest in this thread but as a newbie have no idea where to start. I have a little bit of money put by which I can use and afford to lose but where does one start.
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Binance does now offer withdrawals to bank.
Any chance you can explain how to do this? As I spent some time trying and eventually concluded that it wasn’t possible.
What are peoples general thoughts on the mining process of Bitcoin. I read this whole article about how how much power globally is needed, annually it produces more emissions the the entire country of Argentina.
What are peoples general thoughts on the mining process of Bitcoin. I read this whole article about how how much power globally is needed, annually it produces more emissions the the entire country of Argentina.
Do people pax tax on bitcoin?
They should (if they make enough), and certainly in the UK it's being cracked down on, it's normally Capital Gains Tax just like shares.
What are peoples general thoughts on the mining process of Bitcoin. I read this whole article about how how much power globally is needed, annually it produces more emissions the the entire country of Argentina.
Do people pax tax on bitcoin?
Incorrect - it consumes the same power as an entire country. Most large mining organisations get their power from green energy sources. The idea that mining Bitcoin is bad for the environment is as stupid as saying that electric cars are bad for the environment.
How much, for instance, is emitted in mining gold and moving gold reserves from one place to another?
Yes you pay tax on Bitcoin gains, when and if you trade them to another coin or currency.
Glad I sold my IYF, price has now plummeted, no comms from the dev, telegram mods resigning and probably no arb pool product. Glad I managed to get out with a sliver of profit.
Zil - Eth Bridge coming at the end of this month now apparently! Also rumours of a coinbase listing within a couple of weeks now the Rosetta API integration is live. Could be a fun couple of months.
My brother in law informed us three days ago he put $200k in Bitcoin a year ago and now has $1 mil. He says I should put everything I have into it because within a year it will be a million per coin. The last time he said such a thing was 1999. He rode AOL to a million then too and told us to throw everything in tech. Two years later he was down to $200k and his wife divorced him. Looks like we are back to the future, now.
So now back out of all coins and all positions closed.
In 5 days of trading I've made 8% (nearly 3% on non Crypto) so around 5% on Crypto. Or broadly 1% a day.
On the basis I think I've been lucky that no losses it should be possible I think to make 2% a week on average and therefore double your cash.
Etoro is very easy to use, but the bid offer spread is quite large. Not found that a big issue on BTC but the small coins more so.
It's also took me very little time, once I set up notifications.
Agree with you on etoro (see my post earlier in the this thread to avoid, especially when big spikes up/down occur when the site mysteriously goes offline).
If you want smaller spreads FTX or Binance seem to be the preferred options for people but are quite complex to get your head around
Zil - Eth Bridge coming at the end of this month now apparently! Also rumours of a coinbase listing within a couple of weeks now the Rosetta API integration is live. Could be a fun couple of months.
Where have you seen this @cafcpolo ... Last I saw, Amrit said end of Q2.
My brother in law informed us three days ago he put $200k in Bitcoin a year ago and now has $1 mil. He says I should put everything I have into it because within a year it will be a million per coin. The last time he said such a thing was 1999. He rode AOL to a million then too and told us to throw everything in tech. Two years later he was down to $200k and his wife divorced him. Looks like we are back to the future, now.
Not sure if your brother in law is a genius for buying the bottom last year or an absolute idiot for thinking it will go to $1 million this cycle. Tell him to take his fucking profit now.
So now back out of all coins and all positions closed.
In 5 days of trading I've made 8% (nearly 3% on non Crypto) so around 5% on Crypto. Or broadly 1% a day.
On the basis I think I've been lucky that no losses it should be possible I think to make 2% a week on average and therefore double your cash.
Etoro is very easy to use, but the bid offer spread is quite large. Not found that a big issue on BTC but the small coins more so.
It's also took me very little time, once I set up notifications.
Agree with you on etoro (see my post earlier in the this thread to avoid, especially when big spikes up/down occur when the site mysteriously goes offline).
If you want smaller spreads FTX or Binance seem to be the preferred options for people but are quite complex to get your head around
Prefer FTX (their stop loss interface is fantastic), although I made the mistake of kyc’ing myself and now I can’t use their futures (using no leverage, I just prefer the ui for futures) since I’m from the uk.
Zil - Eth Bridge coming at the end of this month now apparently! Also rumours of a coinbase listing within a couple of weeks now the Rosetta API integration is live. Could be a fun couple of months.
Where have you seen this @cafcpolo ... Last I saw, Amrit said end of Q2.
Was reported by some place online but have seen Amrit since say no. Bandits. I'll take the Coinbase listing instead though!
How's the staking going now its all in? Must be getting a good 300 zil a day?
Zil - Eth Bridge coming at the end of this month now apparently! Also rumours of a coinbase listing within a couple of weeks now the Rosetta API integration is live. Could be a fun couple of months.
Where have you seen this @cafcpolo ... Last I saw, Amrit said end of Q2.
Was reported by some place online but have seen Amrit since say no. Bandits. I'll take the Coinbase listing instead though!
How's the staking going now its all in? Must be getting a good 300 zil a day?
How do you go about staking with Binance? Find it really complicated. Thanks
Comments
Is there one app to use and do you download multiple apps. Some one help a newbie please or am I safer chucking it on charlton to stay up.
The one thing I've learnt over the years is not to get greedy. Whenever I've bought shares to trade (ie not necessarily long term hold) I set my sale price and stick to it (much easier these days with limit setting), otherwise it's very easy to hold and hold and then it drops. For normal shares that's (depending on initial price) for me 7.5-10% tops.
I think it should be possible to make 1-3% a day on average from what I'm seeing (on a 30 day cycle), just make sure you have a stop loss to close out your positions if you are day trading and not up looking 24/7! I'm not leveraging at the moment, too volatile.
If you can average 1% a day on £10k , say 4 days a week that's £20k a year.
My other rules would be; don't put more than 15% into anyone share (coin) although they do seem intrinsically linked for the most part, if you can be really on the ball, bitcoin tends to lead the way on up's and downs with the others like ETH following 3-5 minutes later. So have a small holding of BTC, when you see it spike and drop, then is the time to sell the others (assuming you bought them at a lower value!).
If you are free trading also open up numerous positions. i.e. if you are buying $250 of BTC, buy in 5 lots of $50, you can then vary your TP and SL.
Lastly on SL, I take a multiple of what I'm looking to profit, i.e 5x max. So If I'm looking to make 3% SL at 15% but the coins are pretty volatile so might extend that a bit.
I'm still learning on the coins, but I think the volatility as long as you are sensible with your SL and accept some days you won't make, also splitting your cash into not only different coins but in multiple positions for each it's hard to see losing much for long.
Maybe today if it gets there or tomorrow I'll open 5 positions on BTC at between 48.2m & 48.8k with SL at around 40k and TP I'll vary between 50,250 and 50,750. That said it'll probably never get back to that level :-) I can see 51k again in the next few hours.
Quite new to it myself mate and in the same boat as you. I used the app Binance. From there you can make a deposit using your bank card. You buy Bitcoin and then use that bitcoin to buy other cryptos.
When it comes to cashing out, I don't think you can withdraw back to your card on Binance. You have to transfer your funds back to an app called Coinbase and withdraw from there.
I guess you're probably thinking why don't I just use Coinbase which is fair, but I think Binance has more markets on offer? Somebody more clued up on here will no doubt be able to confirm.
Obviously everyones circumstances are different but how much would you say is a good amount of money to start with.
Do people pax tax on bitcoin?
https://www.internationalinvestment.net/news/4004081/bitcoin-investors-tax-crackdown-hmrc
BTC is hanging in there, going to dump and run soon hopefully at somewhere around 48,300 so a few p's profit. Assuming I do another reasonable day.
ETH hanging in there, should have taken 5% profit now still up but around 1.4%, dumping them now.
In 5 days of trading I've made 8% (nearly 3% on non Crypto) so around 5% on Crypto. Or broadly 1% a day.
On the basis I think I've been lucky that no losses it should be possible I think to make 2% a week on average and therefore double your cash.
Etoro is very easy to use, but the bid offer spread is quite large. Not found that a big issue on BTC but the small coins more so.
It's also took me very little time, once I set up notifications.
If you want smaller spreads FTX or Binance seem to be the preferred options for people but are quite complex to get your head around
How's the staking going now its all in? Must be getting a good 300 zil a day?