Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
The transfer back to your bank takes a while, however, 14 days iirc if it’s a sepa transfer
But the 'transfer back' rate is fixed in at that point I assume?
Have many of you made significant short term gains in real money? Or is the value usually in the long term success (i.e. Bitcoin now vs 10 years ago)
I 'invested' what I normally save per month (aprrox £1000) a few months ago and withdrew a fairly sizable amount of money not that long ago.
I can honestly say it was the best financial decision I've ever made, second only to moving to China.
I have a friend here who has been constantly taking the piss out of the few of us that really got into it, his general smugness took a real battering the other night, which was fun.
I only got into this after using bitcoins for quite a while to buy stuff online and noticing how much my 'change' had increased in value.
Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
The transfer back to your bank takes a while, however, 14 days iirc if it’s a sepa transfer
But the 'transfer back' rate is fixed in at that point I assume?
Have many of you made significant short term gains in real money? Or is the value usually in the long term success (i.e. Bitcoin now vs 10 years ago)
I 'invested' what I normally save per month (aprrox £1000) a few months ago and withdrew a fairly sizable amount of money not that long ago.
I can honestly say it was the best financial decision I've ever made, second only to moving to China.
I have a friend here who has been constantly taking the piss out of the few of us that really got into it, his general smugness took a real battering the other night, which was fun.
I only got into this after using bitcoins for quite a while to buy stuff online and noticing how much my 'change' had increased in value.
The M.D. bought into bitcoin last month (we’re a very small company) and sold before Christmas and made a grand. Me and the creative director bought Vechain and have sat on it. He keeps chirping away saying it’s all going to crash as Vechain just keeps growing and growing.
I’ve only put in £200 and what’s it’s worth now is the same as about half my savings. Pretty good considering the first bit of bitcoin I bought was back in late october. How long would it take for me to earn that through a bank?
I've learnt loads about cryptos over the last few days, some of it from the conversations on this thread. Great contributions from the likes of @kentaddick , and good debate on the pros and cons of it all.
It's not the easiest thing to get your head around initially, but I'm going to use my new found knowledge to dive in and have a dabble. I think I'll split my trading over the likes of ethereum, ripple and vechain. Plus maybe a little on some of the other slightly more random ones mentioned on here.
My take on it: the whole market seems as volatile as f*ck, probably in a bubble at the moment. Therefore anything I invest I'll be prepared to lose totally, although I don't think it will get quite that extreme.
I've learnt loads about cryptos over the last few days, some of it from the conversations on this thread. Great contributions from the likes of @kentaddick , and good debate on the pros and cons of it all.
It's not the easiest thing to get your head around initially, but I'm going to use my new found knowledge to dive in and have a dabble. I think I'll split my trading over the likes of ethereum, ripple and vechain. Plus maybe a little on some of the other slightly more random ones mentioned on here.
My take on it: the whole market seems as volatile as f*ck, probably in a bubble at the moment. Therefore anything I invest I'll be prepared to lose totally, although I don't think it will get quite that extreme.
Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
Agreed. I often wondered about retiring and playing the stock market from home to earn a living.
But I concluded that it would be very difficult to earn a profit in a bear (falling) market.
Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
Agreed. I often wondered about retiring and playing the stock market from home to earn a living.
But I concluded that it would be very difficult to earn a profit in a bear (falling) market.
Isnt the answer just to not trade in a bear market ? - or is that too simple? ok, you get go out and find another job - but if you had 2 incomes then its something worth persuing in the current market imo.
Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
Agreed. I often wondered about retiring and playing the stock market from home to earn a living.
But I concluded that it would be very difficult to earn a profit in a bear (falling) market.
If you want to trade at some point, you want to buy in a bear market.
Again, just wanted to say what a fantastic thread this is, and hope it continues like this for some years to come.
I am thinking of a 'career change' (maybe enforced) later this year, and looking at the idea of becoming a crypto day trader. Just an idea at the moment, but something that, by the time I get up to speed (2nd half of this year), may allow me to live where I want to live (which aint here !) - and also work from home to my hours. What do you guys think about that?
How much time a day on average roughly do you serious trading guys put into research?
Thank you to all contributors.
I struggle to see how one could expect to make a living day trading cryptos in the absence of a viable method of 'shorting' them as well as owning them - if your only choice is thus to either own a coin or not own it (in the absence of a third option ie. to be short it) then you will be relying upon an ever-rising market as well as good trading ability (in turn far from a given) to have a realistic chance of being successful.
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
Agreed. I often wondered about retiring and playing the stock market from home to earn a living.
But I concluded that it would be very difficult to earn a profit in a bear (falling) market.
At least in stocks there are viable ways to be both long and short (in the case of the latter either via a brokerage account or spread betting companies). Even small retail investors can at least effectively short various indices or sectors via certain specialist ETFs/ETNs (though these come with hefty caveats).
Anyone checked out INT? Seems like they are in discussions with partnerships with some big companies (ibm Microsoft). Chinese iota they’re saying, but with a juicy potential to hit Neo numbers. In fact those that got in on antshares are whispering this could be the next big thing... if their partnerships become official..
Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
You buy them direct from the company/people who create them as part of an ICO (initial coin offering). These are usually deliberately priced a lot less than what they’ll end up being, to reward those who buy in first.
What he said... Experty closed already.
Experty ico Monday, bee token the following Wednesday and then ArcBlock on the 3rd...will go in pretty lumpy on arcblock
According to the ArcBlock site the public sale was suspended on the 21st January due to high demand.
Fill your boots and thank me later... Great idea, great roadmap, strong team. CEO on NHS board and and this is already being trialed by the NHS. Down the line they are planning wearable technology that constantly feeds health info to the blockchain. Everything about this looks good.
Do you think there will be a minimum investment on this one? I am happy to put in £250.00 but not sure that will be enough.
Fill your boots and thank me later... Great idea, great roadmap, strong team. CEO on NHS board and and this is already being trialed by the NHS. Down the line they are planning wearable technology that constantly feeds health info to the blockchain. Everything about this looks good.
Do you think there will be a minimum investment on this one? I am happy to put in £250.00 but not sure that will be enough.
Fill your boots and thank me later... Great idea, great roadmap, strong team. CEO on NHS board and and this is already being trialed by the NHS. Down the line they are planning wearable technology that constantly feeds health info to the blockchain. Everything about this looks good.
Do you think there will be a minimum investment on this one? I am happy to put in £250.00 but not sure that will be enough.
Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
You buy them direct from the company/people who create them as part of an ICO (initial coin offering). These are usually deliberately priced a lot less than what they’ll end up being, to reward those who buy in first.
What he said... Experty closed already.
Experty ico Monday, bee token the following Wednesday and then ArcBlock on the 3rd...will go in pretty lumpy on arcblock
According to the ArcBlock site the public sale was suspended on the 21st January due to high demand.
Im sure that was just the registration period being moved forward from feb
How long does it take to transfer between Coinbase - GDAX - Binance? My coinbase now shows zero, email says i have transferred to money to GDAX, yet coins not showing on GDAX. Does this take time? or should it be instantaneous?
Fill your boots and thank me later... Great idea, great roadmap, strong team. CEO on NHS board and and this is already being trialed by the NHS. Down the line they are planning wearable technology that constantly feeds health info to the blockchain. Everything about this looks good.
Cheers mate. Good read you are right, could be big in the future. I registered my interest so what happens now? How will I find out the exact ICO date and the price it will be going for etc? Never bought in at an ICO before?
Sorry if this is all very basic... thanks for your advice.
After you've registered you'll get an email to sign up to their portal. So you'll need to buy Ethereum via Coinbase or the like... I'd recommend bit panda. You then need to create a wallet on myetherwallet and transfer it to the wallet. The ico is on Feb 1st at 10am and is on a first come first serve basis, you'll need to have a scan of your passport and a utility bill ready... If you get accepted they'll send you a wallet address to send the Ethereum to.
Thanks for the feedback. So do I need a coinbase and myetherwallet? Only on the mandatory sign up questions on myetherwallet it says coinbase is an alternative to myetherwallet.
Sorry for the confusion if it’s obvious. And also which hardware wallet do you use?
I am unable to open a Coinbase Account in Luxembourg (not available, nor in France or Germany, which i find strange). Can anyone recommend another exchange?
I think the possibility that Bitcoin (or any other crypto) would become a general means of exchange died a long while ago.
Agree. Simply evidence that crypto currency is not developing as a replacement for fiat currency. That was the reason it was seen as an asset with the potential to compete with gold as a store of value, so raises questions why hold crypto currency long term.
As @newyorkaddick points out, a functioning market requires buyers and sellers to have differing views on the direction of the market and for both to make money if they guess correctly. if a market is only functioning on the basis of every investor only believing then market will rise, it will fail if that sentiment evaporates.
The danger is that as evidence mounts that crypto currencies are not going to be a replacement for fiat currency the whole rationale for crypto coins as a store of value goes out the window and the big sell off begins putting Bitcoin back at the level when it was first mined but perhaps setting a fixed exchange rate based on the price of Domino pizza.
I am unable to open a Coinbase Account in Luxembourg (not available, nor in France or Germany, which i find strange). Can anyone recommend another exchange?
I found Bitstamp ok - bitstamp.net but will only do Euros.
Newsnight did a piece on Bitcoin mining last night. Sorry, but left me thinking "what the fcuk is the point of this"? Wasting vast amounts of energy for what possible benefit to society.
There was also an article I read yesterday about some Alt right 'Deplorables Gala' event in Manhattan. Amongst the preachers of hate was someone giving a presentation on crypto currencies!! Not sure what to make of that.
Comments
I can't imagine there are many successful day traders in any asset class (including professional gamblers in sport) who are only able to bet in one direction.
I can honestly say it was the best financial decision I've ever made, second only to moving to China.
I have a friend here who has been constantly taking the piss out of the few of us that really got into it, his general smugness took a real battering the other night, which was fun.
I only got into this after using bitcoins for quite a while to buy stuff online and noticing how much my 'change' had increased in value.
I suppose there's a good way to find out.
I’ve only put in £200 and what’s it’s worth now is the same as about half my savings. Pretty good considering the first bit of bitcoin I bought was back in late october. How long would it take for me to earn that through a bank?
I've learnt loads about cryptos over the last few days, some of it from the conversations on this thread. Great contributions from the likes of @kentaddick , and good debate on the pros and cons of it all.
It's not the easiest thing to get your head around initially, but I'm going to use my new found knowledge to dive in and have a dabble. I think I'll split my trading over the likes of ethereum, ripple and vechain. Plus maybe a little on some of the other slightly more random ones mentioned on here.
My take on it: the whole market seems as volatile as f*ck, probably in a bubble at the moment. Therefore anything I invest I'll be prepared to lose totally, although I don't think it will get quite that extreme.
I can tell I'm going to turn into a HODL bore....
But I concluded that it would be very difficult to earn a profit in a bear (falling) market.
My coinbase now shows zero, email says i have transferred to money to GDAX, yet coins not showing on GDAX.
Does this take time? or should it be instantaneous?
ADX
VEN
POWR
and because it looks like England - ENG
Haven't got a bloody clue, but in for a penny....
There are quite a few links on the search engines, so dont want to head onto any scam or phishing website.
Also if you register interest are you tied in to follow through on the purchase estimate, or is it still optional?
Any impact?
Can anyone recommend another exchange?
As @newyorkaddick points out, a functioning market requires buyers and sellers to have differing views on the direction of the market and for both to make money if they guess correctly. if a market is only functioning on the basis of every investor only believing then market will rise, it will fail if that sentiment evaporates.
The danger is that as evidence mounts that crypto currencies are not going to be a replacement for fiat currency the whole rationale for crypto coins as a store of value goes out the window and the big sell off begins putting Bitcoin back at the level when it was first mined but perhaps setting a fixed exchange rate based on the price of Domino pizza.
Until then it's a fantastic game to play.
There was also an article I read yesterday about some Alt right 'Deplorables Gala' event in Manhattan. Amongst the preachers of hate was someone giving a presentation on crypto currencies!! Not sure what to make of that.