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Mahmoud Sabry

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About Mahmoud Sabry

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  1. I started in May 17. First I gained a little with my 1100usd injection. It was nice, I had great time. I imagined how I would do this and that. I was on the rush so I invested 1500usd more. and I loved it. Just for the first days. I bought NVC when it started to rise dramatically. I was like Wow, what an amazing world is around me. I was projecting to leave my current businesses in favor of cryptotrading. But later on I lost my first 500usd. Then ETH fell down and I lost a little more. then I lost 1 grand. then more. Right now I have lost almost everything thinking all over again that I will sell my position in Dash or NVC or any other currency just buying it back at a lower price. I was just chasing my own tail like a stupid dog! again and again. the one I was selling was rising and the one I was buying was plummeting. That was and is the same game. I even thought once that the computer is showing me some incorrect numbers and prices to scam me. I checked other computers and proved to be wrong. Right now I have only 1200usd and I am sitting quiet in NVC dreaming of a rise (which probably will never happen).
  2. When I read about Bitcoin, back in 2011, it looked amazing. I wanted to try it, to see how it works. It was very difficult to find exchanges, so faucets and advertisement clicking, was the only way to get Bitcoins. It took me a lot of time, to get some milliBTC, and I just played once on Satoshi dice, to see how the transaction works. I sent 0.1 milliBtc from my wallet to satoshi dice for a play. When the transaction was confirmed, “HELLO, WELCOME TO THE NEW WORLD!”
  3. GDAX has the lowest fee but hard to adapt to their interface, I would say GDAX would be more for the immediate - Professional level. While CoinBase interface is the easiest to use and their fees are reasonable.
  4. 1 Bitcoin (BTC) ... 2 Bitcoin Cash (BCH) ... 3 Litecoin (LTC) ... 4 Ethereum (ETH) ... 5 Binance Coin (BNB) ... 6 Tron (TRX) ... 7 Chainlink (LINK) ...
  5. Software wallets are downloaded and installed on a personal computer or smartphone. They are hot wallets. Both desktop and mobile wallets offer a high level of security; however, they cannot protect you against hacks and viruses, so you should try your best to stay malware-free. As a rule, mobile wallets are way smaller and simpler than desktop wallets, but you can easily manage your funds using both of them. Besides, some software wallets allow you to access funds via multiple devices simultaneously, including smartphones, laptops, and even hardware wallets.
  6. Bitcoin’s price will probably continue to fluctuate until mainstream adoption will arrive. For now, big buy or sell orders by disrupt the market as the market cap isn’t big enough to withstand them. The current unstable worldwide financial system may prove to be the final push Bitcoin needs to skyrocket, however, it’s anybody’s guess if indeed that scenario will play out.
  7. Bitcoin gift cards are another easy way to give bitcoins as a present to family and friends. The buyer needs to select the denomination and just fill the order form online on portals such as bit4coin. Once the payment is made, the gift card or voucher is mailed to the specified address. The recipient can easily redeem the gift card against bitcoins at an exchange rate at that time. Such portals not just help with the redemption; they also guide on how to open your own wallet. (Read more about cold storage for Bitcoin.)
  8. I am not doing any of these (Buying , HODL or Selling of crypto) mainly because of the extreme volatility and associated uncertainties. I strongly believe Trading crypto is a better strategy than the other three, since it could generate a stable stream of weekly and monthly income. HODL is inaction based on the ‘Hope’ that the prices will rise in future due to some reason. But trading is Action, a mentally stimulating activity which can be rewarding if done right (with the right analysis and mastery over emotions). A good trader would have gained mastery over the 3 emotions - ‘Fear’, ‘Greed’ and ‘Hope’. I am a forex trader and I don’t hold any cryptocurrencies (for long term). I do use some forex brokers who allow cryptocurrency deposits and withdrawals. Once deposited, the forex brokers store cryptocurrencies essentially as USD (or some stable fiat currency) at the time of deposit, so I don’t have to worry about the purchasing power of my invested money in trading going down. The value of cryptocurrency can move over 20% a day all of a sudden and moves less than 2% on most of the days. We never know what is the right margin to apply to minimize the risks and maximize the profits (Proper Optimization) at the same time. This makes cryptocurrencies less attractive for margin trading. So, basically I use cryptocurrency only to make certain transactions and not as an investment. You may check my profile or other answers for more insights on trading and investing in general.
  9. Loyalty among crypto users is a very rare thing. The average user wants to make as much money as possible and the way they do that is by constantly running behind the “next big token” leaving the newcomers behind. Some AirDrops are constructed in such a way that the more tokens you hold, the more you receive in subsequent AirDrops. So, if a user is actually loyal to a token and keeps a substantial amount of it in their wallet, they can be rewarded with more tokens by the company. At the same time, AirDrops can inspire loyalty among users too since they are now actually incentivized to buy and keep tokens.
  10. Some of the world's biggest retailers have begun accepting cryptocurrency payments in the form of bitcoin, ethereum, bitcoin cash and the Gemini dollar. US-based payments startup Flexa has enabled Amazon-owned Whole Foods, Nordstrom, Starbucks and dozens of other companies to take bitcoin payments. More than 10 years after bitcoin was founded, user adoption remains one of the biggest challenges still facing the world's largest cryptocurrency. To solve this, Flexa built an app called Spedn, which allows cryptocurrency holders to make instant payments to merchants that accepts Flexa as a payment provider. "The Flexa team has decades of payments experience, and at this point, we believe that the best way for global commerce to become more efficient and accessible is by bringing cryptocurrency to the masses," the company wrote in a blog post last year. "By making cryptocurrencies spendable in mainstream commerce, our sincere hope is that we can help bring the full promise of blockchain technologies to people all over the world."
  11. In general, the cryptocurrency market is actively growing, new companies and infrastructure projects appear. And the fact that the legal institutions and software development services are trying to assess the impact of bitcoin and other digital currencies on the development of the economy is a positive signal. This proves once again that cryptocurrencies are a multifaceted concept, and the relationship arising from their use can be interpreted in different ways, and no regulator has yet come to a consensus on this issue.
  12. There are many mistakes a trader can make in crypto - and with other assets, too - but the ones we most often see at DueDEX probably fall into three categories. Trading without a plan Be it because many retailers get into trading as a hobby, because life is busy, or simply out of laziness, there are plenty of traders out there who enter into positions without a proper plan. This includes a lack of analysis on multiple timeframes, relying only on the one and only indicator a trader knows how to use, and having no exit plans. It is, of course, a recipe for disappointment. Given the market’s unpredictability, making detailed plans, backtesting their effectiveness, and experimenting before trying them out with a real account is essential. Jumping in without knowing what to do next will leave a trader exposed to the wrong kind of volatility. Having a plan and not following it This is a category of issue, but they come down to the same denominator - letting your beautifully crafted plans be swept away by contingencies. A typical example is a trader who, having prepared a proper strategy, working out its risk-reward ration and win rate, gets cold feet as the price starts to move in the desired direction and pulls out long before reaching the original target, even though the analysis behind it remains valid. This inevitably leads to a change in the parameters he/she had set and over the long term completely alters the underlying strategy. In other words, you have crafted plan A, but end up following plan B because you do not dare to stick to your original strategy. Which really means you have no plan anymore. Not managing your risk properly Especially when one is starting out, it is easy to get swayed by the lure of profits and forget about your downside. But preserving your capital should always be a priority. Again, this is due to the fundamental unpredictability of markets, which are always prone to surprise you - even if your technical analysis and timing are right to the point, protecting your account remains a necessity. Sticking to the 1% - or 2% - rule, never risking more than a tiny part of your trading capital, working out a proper combination of win rate and risk-reward ratios is a good start. As is remembering to always put a floor under your loss by placing a stop-loss order when entering a position. Notice that this material is purely educational and does not constitute financial advice. Trading involves significant risks. You should only be trading what you can afford to lose.
  13. Cryptocurrency played a significant role, made me a morning person. I made a fortune betting Four hundred thousand dollars of my savings on cryptocurrency, this decision paid off in a bigger way than I ever could’ve imagined. I stumbled upon an article about Bitcoin, it seemed too good to be true but as a speculative investor, it gave me a rush so i made an investment. Unfortunately, it wasn’t long before i experienced the volatility of crypto market. I developed an obsession, listening to crypto podcasts, and read articles at work every spare minute, it changed my entire persona. Years later, crypto came back to life then it kept going up and up and up. In a span of months, my investment ballooned. It all happened so quickly that it feels like a dream, the best i can describe is looking at the bank and seeing high figures. I even bought a second and third home. I banked everything I had on a relatively unproven technology and got out at the right time. I’ve since turned my efforts toward making the concept of cryptocurrency decentralization more accessible to the general public. I am a true believer in crypto and I had to take a big risk. If you are wanting to invest in cryptocurrency, you can but I don’t recommend that anyone try to replicate what I did.
  14. I don’t know about “investing”, but one time when buying Bitcoin a deposit didn’t show up, so I had to contact the exchange’s support? But they resolved this pretty quickly, so it wasn’t the end of the world. One other time I forgot that banks don’t work during the night and on weekends, so my deposit arrived nearly 3 days late (luckily the price was almost the same as it was when I actually intended to buy). Otherwise, for the part of my BTC that is intended for trading, I use stop-loss orders, so there’s actually not much that can happen. If it starts dropping in value, I always know exactly how much I’m going to lose, and if the exchange gets hacked or goes under or something, I’ll still have most of my BTC (because it’s in my wallet, not on the exchange).
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