7Mes·

Crypto is just gambling?!

After two days 50% in the red?


Meal,


As you may have noticed, I have decided to take up crypto trading.

It's been a week now and I'm going to tell you what happened.


Which broker?


When it came to the question of which broker I should use, I decided on Binance based on all the recommendations.

I verified myself there via video call, which is super quick and easy, and then deposited money. As I wanted to start with "smaller" sums, I started with €250.

After finding out more, I realized that the "Bitget" platform would be more suitable for me.

There it is possible to conclude future trades and then leverage them.

In short, future trades are contracts that are offered at the same price as the currency = you don't buy a spot, i.e. not a "real" Bitcoin.

After I registered on Bitget, I bought €250 worth of Bitcoins on Binance on the recommendation of Hoss - don't ask me what the advantage is, but it's really quick - transferred them to Bitget and then transferred my Bitcoins to USD-T futures in Bitget.

This is, so to speak, the currency that is needed to conclude these futures trades.

However, USD-T futures are identical to the US dollar, i.e. the same conversion rate.


My trades


Full of euphoria, I naturally wanted to start trading straight away.

That's why I looked at the $BTC (+0,09%) price and had invested with 100% conviction that Bitcoin would crack the 100k mark today, with all my capital and a 50x leverage :(.

Yes, you're right to think, WTF is he stupid.

I quickly felt it and my stop loss was triggered overnight.

Long story short, 60€ minus with the first trade.

With the realization that this was pure gambling and that it simply doesn't work that way, I sat down early on Saturday and tried out a bit.

I quickly realized a strategy, which I then implemented using $ETH (+0,15%)
$XRP (-0,58%) and $SOL (-0,31%) practiced.

I invested €50 with a 10x leverage at what I considered to be a realistic point in time for a positive price reversal, i.e. the price was moving sideways or had just broken through a previous resistance level. I set a stop loss at -5% in each case so as not to be liquidated in the event of a price drop.

In all three cases, be it luck or not, the entry is pure prediction anyway, the price rose.

When a previous resistance level was breached, i.e. the price had bounced off it several times previously, I then pulled my stop loss above my entry price and thus ensured that my position could only close in positive territory. In addition, I increased my leverage to 100x and reduced my margin by 95%. In other words, instead of 50x10 it was then 5x100, less money but the same position size.

I had then practiced this with all three and in the end I went out with approx. 20€+. A great experience.

I realized that the crypto market is anything but gambling and that you really can make profits with proper risk management and without greed.

Yesterday evening was the next day for me.

I had opened a $SOL (-0,31%) position, which unfortunately backfired badly and the position closed €20 in the red.


Findings:


The main finding is that trading at the weekend really makes little sense. Because the big investors do their spot buying during the week, the volume growth only comes from the future trades. I could imagine that many open short positions at the weekend, which seems to make more sense to me than going long.


Another insight is that crypto trading only makes sense if you are very unemotional about it. I definitely want to get into that habit in the near future, because if I don't look at it rationally at €250, how will it be with larger sums?


Next week I'm going to look into new strategies, trade a bit and also deal with the subject of taxes, because you shouldn't neglect that under any circumstances.


What were your first experiences with crypto trading, what is your favorite altcoin? How do you see it, will Bitcoin still break 100?


Have a nice Sunday. See you next week📈


My summary of week 1:

attachment
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27 Commenti

immagine del profilo
Go to the casino! What you do there has nothing to do with investing.
25
immagine del profilo
@GordonGekko83 and also not with trading.
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immagine del profilo
Hodl rather.
9
immagine del profilo
@Koenigmidas I would of course like to do this in the future, but the current market situation is unfavorable for Hodl, in my opinion.
immagine del profilo
@CryptoFanatic is always a question of how long it takes and how to get started.
3
immagine del profilo
So she "quickly came up with a strategy on Saturday morning"... And after a day "you realized that...".

Honestly, I wish you all the luck in the world. But in the end, what you're doing is roulette. I recommend that you first subject your strategy to an intensive backtest.
5
immagine del profilo
@DerMartin was perhaps misleading. I had only copied the strategy used, more precisely from Hoss... And I have realized that it makes no sense to trade at the weekend, I have given reasons. Thank you, I see the €250 as a lesson, doesn't mean I want to gamble it away. Good luck to you too!
1
immagine del profilo
What randomly comes to mind as rapid-fire facts:


Trading based on single indicators does not work, you need a lot of knowledge and a combination

Understanding charts (even just the basics) takes time, don't use real money at the beginning, analyze charts and then just see how many times you are right. You can then start at 70%.

Possible profit margin (limit sell order) always higher than loss margin (stop loss), so you make a profit even if every second trade is a failure

Supports are bad, look for "order blocks"

Liquidity maps and such are only useful to a very limited extent, because institutions place their orders very shortly before execution, so they do not appear in the maps (see point above -> focus on order blocks instead)

Don't believe anyone on the internet as soon as the lifestyle is "I am rich through trading". With Hoss it's still borderline, he doesn't sell prices so I don't see why he should fake it, but someone who talks a lot of populist nonsense in the podcast can't really be that rational when trading.

First determine the strategy in which chart situation to buy, then look for this situation. If it occurs: buy, if not: leave it. The whole thing with a proven strategy and we are talking about trading.
Otherwise it's just gambling on price with high leverage, anyone can do it and it's lame.

No hate, just criticism, you can do it
3
immagine del profilo
@leveragegrinding Thank you. One of the few comments that really add value. I will definitely do the demo account in the near future, I've already spent too much of my 250$ teaching money. I'll have to go looking for strategies, but it's kind of exhausting when every 2nd video is from influencers selling courses... Can you recommend any videos, magazines etc.?
immagine del profilo
@CryptoFanatic everything that has to do with order blocks and breaking blocks and trends. Do not buy courses.
immagine del profilo
Thanks for your experience report - perhaps a little warning shot for the greedy. You don't have to do everything you can do😅
2
immagine del profilo
Otherwise start with paper trading to understand how the market moves and to develop a proper strategy
2
immagine del profilo
If it were that easy, anyone could do it
1
immagine del profilo
@Bein-Godik Where did I say it was easy? Why should others be able to do it and we can't? For me, the motto now is to keep at it
Wrong day chosen for the spontaneous idea of getting rich. But it also works the other way around. If you had come up with the idea on a favorable day, you would be 60% up after 7 days. That's just the way the game is. There's more to the idea of trading crypto. More than just saying "Oh, I'll buy now!"

You have to recognize entry opportunities in stocks as well as in the crypto market. Nevertheless, I wish you every success. ✌🏻☘️
1
immagine del profilo
@asset_whisperer_114I think it's a good thing that I traded with my learning money on unfavorable days. If my Bitcoin trade had worked out, I probably would have gone back in with a 50x leverage... I'm going to work my way through strategies next week and try not to make a game out of the whole thing but something constant. Very few people succeed, but maybe I'm one of the few😂. After all, I'm still a complete beginner...

Thanks for your nice comment, good luck for the future🙂
1
@CryptoFanatic Yes, from that point of view, you're right again! And that would have been really expensive. My advice, especially as a beginner! Stay away from HEBELN!!!

Make a calm find your entry and exit tactics. Or a basic plan on how to trade profitably.

I also recommend a deposit with play money, i.e. a demo account. :) Some will say it's garbage. But it helps me. ;)

And don't let yourself be dragged down by comments about how stupid you could be and so on ... 😉

Losses are also part of training - the trick is to limit them or keep them to a minimum. Have a nice Sunday
immagine del profilo
@asset_whisperer_114 I've been investing in individual stocks for two years now, so I also do buy and hold. I enjoy trading crypto, despite the losses right now, and I want to get better. The comments don't bother me at all🤣, people just don't reply to them, they're just wasting their time. Getting upset about someone trying out crypto trading with €250 and sharing their experiences. The worst are the ones who respond with 🆘😂. The same
1
immagine del profilo
1
immagine del profilo
A contribution on the subject of taxes for futures would be very interesting for me
immagine del profilo
@_ItzYourName follows in one week👍
Trading cryptos is almost impossible. Wicks are made all the time to knock out the over-leveraged people. Even if you know the right direction, they are made to get you out.
immagine del profilo
@Ediedi what are wicks?😅
immagine del profilo
@CryptoFanatic Candle ends

@Ediedi can't find out which timeframe and coin you mean?
immagine del profilo
Yes, I do some future trading in between. But you should have enough on the side as I trade without a stoploss. For example, I like to trade only BTC and e.g. 2000k with a max 10x leverage... but even there you should enter well e.g. at a support and have enough on the side already about 5k minimum... so that if the market makers push down more you don't fall out of the trade. Take a look at the BTC Liquidity Headmap often... there you can see reasonably well, especially at the weekend, where the price is still going...
immagine del profilo
@Danilo84 where can I find the headmap? And how can I tell if more liquidity means higher prices or how should I understand this?
immagine del profilo
Ne that you won't be kicked out of the trade if it goes more in the sweep direction. https://www.coinglass.com/pro/futures/LiquidationHeatMap
1
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