Bitcoins/Litecoins/Virtual Currencies

Tmac

Tmac

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1619358197317.png
 
Rajaah

Rajaah

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Tmac said:
How do you not know the precise amounts you’re making?
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Because the amount changes every second? After finishing the transaction I had the exact same amount, $1000. I won't know how much I "made" until VET goes back to where it was when I sold. It probably has already, haven't been looking, taking a hands-off this week and doing other things. Doing some rough math, I think I should have about $60 more at the same level but that's rough head-math.
 
Sanrith Descartes

Sanrith Descartes

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Rajaah said:
Because the amount changes every second? After finishing the transaction I had the exact same amount, $1000. I won't know how much I "made" until VET goes back to where it was when I sold. It probably has already, haven't been looking, taking a hands-off this week and doing other things. Doing some rough math, I think I should have about $60 more at the same level but that's rough head-math.
Click to expand...
And no transaction fees?
 
Tmac

Tmac

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Rajaah said:
Because the amount changes every second? After finishing the transaction I had the exact same amount, $1000. I won't know how much I "made" until VET goes back to where it was when I sold. It probably has already, haven't been looking, taking a hands-off this week and doing other things. Doing some rough math, I think I should have about $60 more at the same level but that's rough head-math.
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So, you don’t have a spreadsheet of what you bought it at and what you sold it and what your net is w taxes and fees?

How do you even know when you should sell if you don’t know how much you’re going to make when you sell?
 
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Aaron

Aaron

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Thanks for the tips. It's been my intention of buying then holding until I actually need the cash. I expect it to go up quite a bit. The only question is, will it go up more than other stuff. 1 BTC can buy a decent high end SUV now. Will it do the same in 3-5 years time or more?

And yeah, I'm not going to watch the price and shit.
 
Threelions

Threelions

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Only recently started a spreadsheet with my buys. Wish I started last year with it, I don’t think the transaction fees are viewable post transaction on Coinbase/pro? Let me know if I’m wrong
 
Rajaah

Rajaah

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Tmac said:
So, you don’t have a spreadsheet of what you bought it at and what you sold it and what your net is w taxes and fees?

How do you even know when you should sell if you don’t know how much you’re going to make when you sell?
Click to expand...

It was an experiment, a gamble on the off chance that we had a weekend dip which I was sure we would.

I just looked at my numbers and I have 521 more VET than I did before the experiment, whatever that's currently worth (again, I'm not looking at the numbers for a bit, taking a break).

If it reaches .195 (the point I sold at) that's $101.59 more than what I had or $101.59, minus about $3 in transaction fees, so about $98. Nothing left Binance's system or went into the bank during this transaction.

Factoring in that I was selling at 1 and a half cents less than my average buy-in, though, should likely balance out my +$98. Since it was a fraction it'd take some math to figure out. I basically just made the loss hopefully a little less of a loss as an experiment, now I'm leaving it alone.

Edit: Did the rest of the math and overall I'm down roughly $30 total from where I would be if the original amount returned to 0.224, as opposed to the current amount, so the experiment didn't work in terms of netting a positive. I would need to let it go down another 80% of a cent or so before buying back in in order to break even. However it didn't dip quite that low IIRC and there was a point where I wanted to buy back in and leave it alone. Again, this was an experiment, nothing else. You'd need a pretty sizable swing for it to be worth the trouble, I think, is the point of all this.
 
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Jackie Treehorn

Jackie Treehorn

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Bitcoin freefalling like a motherfucker, hit $48k like minutes ago and is almost in the 47s. VET into the 16s again. Ethereum has been holding strong every time major dips come along.

I've got mucho cash waiting to buy in but I'm dubious this is the bottom.
 
Haus

Haus

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Let the lake weekend fuckery .. BEGIN!
1619387637902.png


Worse is that I won't have my next bump of cash to put into the market until end of the month, so I now have to cheer for this to keep here, or drop further, then rebound NEXT weekend. heh
 
Sanrith Descartes

Sanrith Descartes

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Rajaah said:
It was an experiment, a gamble on the off chance that we had a weekend dip which I was sure we would.

I just looked at my numbers and I have 521 more VET than I did before the experiment, whatever that's currently worth (again, I'm not looking at the numbers for a bit, taking a break).

If it reaches .195 (the point I sold at) that's $101.59 more than what I had or $101.59, minus about $3 in transaction fees, so about $98. Nothing left Binance's system or went into the bank during this transaction.

Factoring in that I was selling at 1 and a half cents less than my average buy-in, though, should likely balance out my +$98. Since it was a fraction it'd take some math to figure out. I basically just made the loss hopefully a little less of a loss as an experiment, now I'm leaving it alone.

Edit: Did the rest of the math and overall I'm down roughly $30 total from where I would be if the original amount returned to 0.224, as opposed to the current amount, so the experiment didn't work in terms of netting a positive. I would need to let it go down another 80% of a cent or so before buying back in in order to break even. However it didn't dip quite that low IIRC and there was a point where I wanted to buy back in and leave it alone. Again, this was an experiment, nothing else. You'd need a pretty sizable swing for it to be worth the trouble, I think, is the point of all this.
Click to expand...
More general investment advice rather than crypto because I am generally less knowledgeable about crypto. Hopefully you know how to use Excel, if not, its worth learning the basics. The investing thread has a number of really good posts about tracking your every investment and calculating your trade data. Its worth going and taking a look. Dont invest on guesses and hunches. Don't "think" you are making money. "Know" you are making money and how much. The reason is simple. Its the only way to actually estimate your risk/reward. Risk/reward is the key. When I model out an option play, the question isn't will I make money. If thats a question then I would never make the trade. The analysis tells me its a good trade. But if I am running a trade that only gives me a 1% return for 30 days (12% annualized) I am looking at how much capital I am risking and can I find another trade that generates a better return on investment for equal or less risk. You should never make an investment without knowing this and having an exit plan already in place if things go sideways.

Here is an example of what I am describing. This is a month's options trades I made a while back. My risk was roughly 40k of capital and estimated a return of 3.9% (almost 50% annualized). A couple of trades didn't go as expected and I chose to close my position early to protect my profits and it resulted in a 30 day return on capital of 2.5% (30% annualized). This is the type of stuff you need to setup and follow faithfully even when trading crypto. It is one of the ways you stop gambling and start trading. I normally wouldn't make the NIO trades based on the return but I couldn't find anything better and I never like to have capital sitting idle. Better a 2% return than a 0% return. This risk on both was very low but as it turned out the 2nd NIO trade got closed early because it started going sideways on me.

1619391179712.png
 
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Rajaah

Rajaah

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Haus said:
Let the lake weekend fuckery .. BEGIN!
View attachment 350852

Worse is that I won't have my next bump of cash to put into the market until end of the month, so I now have to cheer for this to keep here, or drop further, then rebound NEXT weekend. heh
Click to expand...

Yeah, most of my money the next couple weeks is going into a new TV, and a big payment on a car I'm refinancing. Didn't plan it in the budget to do any more investing for a few weeks. It's a really bad time for me for a dip to happen.

And as a weekly reminder, my last big buy-in was $2300 of VET at .22 the very day it started crashing. $2300 moved out of Ethereum, which did not crash.

My enthusiasm for this stuff is pretty much killed dead at this point but I'd be happy to check back in 6 months and see how my cryptos/stocks are doing.
 
Rajaah

Rajaah

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Sanrith Descartes said:
More general investment advice rather than crypto because I am generally less knowledgeable about crypto. Hopefully you know how to use Excel, if not, its worth learning the basics. The investing thread has a number of really good posts about tracking your every investment and calculating your trade data. Its worth going and taking a look. Dont invest on guesses and hunches. Don't "think" you are making money. "Know" you are making money and how much. The reason is simple. Its the only way to actually estimate your risk/reward. Risk/reward is the key. When I model out an option play, the question isn't will I make money. If thats a question then I would never make the trade. The analysis tells me its a good trade. But if I am running a trade that only gives me a 1% return for 30 days (12% annualized) I am looking at how much capital I am risking and can I find another trade that generates a better return on investment for equal or less risk. You should never make an investment without knowing this and having an exit plan already in place if things go sideways.

Here is an example of what I am describing. This is a month's options trades I made a while back. My risk was roughly 40k of capital and estimated a return of 3.9% (almost 50% annualized). A couple of trades didn't go as expected and I chose to close my position early to protect my profits and it resulted in a 30 day return on capital of 2.5% (30% annualized). This is the type of stuff you need to setup and follow faithfully even when trading crypto. It is one of the ways you stop gambling and start trading. I normally wouldn't make the NIO trades based on the return but I couldn't find anything better and I never like to have capital sitting idle. Better a 2% return than a 0% return. This risk on both was very low but as it turned out the 2nd NIO trade got closed early because it started going sideways on me.

View attachment 350890
Click to expand...

This is a great post and I'm going to take some time to understand it later when I don't have distractions. I see a lot of familiar faces on that list. Still have PSTH
 
Haus

Haus

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Rajaah said:
Yeah, most of my money the next couple weeks is going into a new TV, and a big payment on a car I'm refinancing. Didn't plan it in the budget to do any more investing for a few weeks. It's a really bad time for me for a dip to happen.

And as a weekly reminder, my last big buy-in was $2300 of VET at .22 the very day it started crashing. $2300 moved out of Ethereum, which did not crash.

My enthusiasm for this stuff is pretty much killed dead at this point but I'd be happy to check back in 6 months and see how my cryptos/stocks are doing.
Click to expand...

The more I try to tinker, trick, or outsmart things with Crypto the more I'm seeing my best strategy so far was my first one. "Invest money then forget it exists for 3 years and check back in..."
 
Arden

Arden

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Haus said:
The more I try to tinker, trick, or outsmart things with Crypto the more I'm seeing my best strategy so far was my first one. "Invest money then forget it exists for 3 years and check back in..."
Click to expand...
Yeah... Like I was saying ;)
 
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