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@Oilyali: "Whilst I’ve been ‘researching’ best ways to trade btc has moved up from 41k to 66k"
Don't worry. A big BTC pullback is bound to come soon...it could be a nice entry point. It's mostly the muppets buying now.
Thank you CaneToad that’s helpful.
Whilst I’ve been ‘researching’ best ways to trade btc has moved up from 41k to 66k, making my worries about the fine detail of commission look pretty stupid! Sometimes we just have to commit to action eh?
Thanks again for sharing …
@Oilyali: "Out of interest, how do you trade to achieve such relatively low commission? Are you using Binance or Coinbase or some such?"
The fees depend on your trading volume in the past 30 days and the types of orders you place. Like most of the exchanges, Limit Orders are cheaper than Market Orders ('maker' vs 'taker'). I use the trading screen within Kraken, which they call 'Kraken Pro'. Here are the fees:
https://support.kraken.com/hc/en-us/articles/360048917612-Fee-Schedule
Thanks CaneToad
Out of interest, how do you trade to achieve such relatively low commission? Are you using Binance or Coinbase or some such?
Thank you in advance for anything you’re prepared to share …
The new rigs are being installed, and have been since end of Sept with 1.7 Eh expected well before the end of the year, according to PW the CEO via this youtube video -
https://youtu.be/eQQgTQ56kFE
@Micky. I do medium-term (weeks/months) trading and have been consistently profitable for several years and have done literally thousands of trades.... My broker commissions are small and irrelevant. My CGT is almost zero as 95% of my capital is inside ISAs/SIPPs. When I trade crypto coins, I'm paying 0.12% in commission, which is also irrelevant, though there's CGT in that case.
In my opinion, day trading 'can' be highly profitable, but in ~95% of cases, it's not. I agree with you there.
FYI. I don't think that day traders are the ones causing problems here. If anything, they are the ones adding the liquidity.
I've tried in the past to trade (Forex), but I failed at it. Mostly because I lacked discipline and patience. I was too trigger happy, and overleveraged. I was so bad at it I had like a 95% lose rate. Every mistake possible I made. Buy and hold for me now. It's so much less stressful and far more successful. Trading is hard, probably why we get a lot of bitter traders on here (and the odd good one).
Day trading is a mug's game - gives brokers big fees however.
Swing Trading over 3-4 month upswings however ...
Fact: By far the vast majority of day traders fail. It's a churn game. They come in green believing all the Bull from mainly lying tubers, many of whom who have similarly been wrecked and then cottoned onto making money by telling others how easy it is and how much they made (actually lost). And so it goes on. A constant supply of mugs ready to give it go. They mostly lie through their teeth about how well they are doing when in actuality, they're sobbing themselves to sleep at night. Of course, a few strike it lucky or manage to just about earn a crust but the only day traders who really win are the guys working for the guys who run the show. Anyone who knows anything about this game knows that day trading isn't anything like it's cracked up to be. Period.
Exactly my sentiment many thanks tonyshu (:0)
Nice post @Tonyshu……..as a long term holder and investor (not trader), I am confident our patience will be rewarded here.
Jumping out of the frying pan into the fire is not for me. Make a decision and stick to it. Many poster will tell you the grass is greener……but they are unlikely to post when crops fail!!
Those who make money from trading simply have more energy to put into this game than I do…….and may be luckier and more adept at trading than I. Each to their own.
Make a considered decision and hold long!!
:-)
I hope and pray you will be rewarded as I hope everyone involved in Argo will I’ve always said 2023 and I’ve always said just as this can frustrate you with its performance so it can shock you when it takes off momentum is everything and I’m sure our time will come dyor never investing advice (:0)
Tony, thank you for a considered hodl post. May I add, though of an elderly age and unable to grasp much of the technical issues of crypto, the normal corrections to the btc price in a bull run are always done. May I also offer at least where btc is concerned, if not our stubborn SP, the "Taproot" roll out looks to be a massive increase potential for btc value. Possibly also help my grumpy attitude towards the spivs fiddling ARB's numbers unfairly. Still on track to be the BP/Shell share of blockchain. Just hope it's in time for me to enjoy further! GLA deserving.
Its not about losing faith here. We are growing and going forward in our plans & building but just not in SP. Thats all that matters to the company but not too me. I care about Sp!
You are absolutely right about why not move on completely .... and I do wish I had taken s a bigger % out of my holdings here. I took a big loss on my 30% in doing so ,so that was the main fear and why not 50% out. But also the rerate that I'm sure will come when rigs that are hopefully installed v soon!
But by pure luck I have had over 100% gains on that 30% that I cashed out in under a few weeks. But I'm the first to say I invested in companies that are much inferior to Argo!
Point taken but why you still holding better out now and move to pastures new a few clicks and you could move on I certainly would if I lost faith here.
@ tonyshu
Patience is easy If your standing still and everything around you is too.
Unfortunately that's not the way it is now.
We've gone backwards massively in sp terms, while others have been leaping a head.
I've sliced 30% of my holdings here recently and will do at least another 30% if & when we install the rigs this quarter.
Everyone here believes in btc, thats not the issue
Just take a look back at where we were 1 year ago to the day lots were spewing once I get ten percent I’m out once I get back to my average price I’m off bitcoin is finished the list goes on enough said PATIENCE dyor any share is a lottery ticket but the thing is if you don’t hit the jackpot Saturday night come the following week month year years you still in the game just do the math why invest in the first place if you not prepared to do the hard miles put your hard earned doh in a bank savings account and see where it’s at in a years time now let’s crack on and do the argoshuffle (:0) god speed all brave investors !!!