Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
wow the amount of ETH i just watched get bought between 1750 and 1800 was insane. Just thousands of sell orders got chewed up by someone or some groups of people market buying them up lol.
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When you're that far down, I dunno...I'd probably just keep it. Crypto being crypto and all...it's one goofy news story away from blasting up 50 percent again. "Hyundai plans to accept bitcoin for car repairs!" or some bullshit like that.
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Tmac
Adventurer
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I don’t think doing nothing is the answer. The rule is to always buy low.
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1750 seems to be where people dont want to keep market selling. lots of orders to edit: *sell* 1800ish. Even though there are almost no buy orders at 1750 anymore, there wasnt any mad rush of selling. It could have easily pushed down further but the buyers sure are giving it their best shot
Rajaah
Honorable Member
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One thing is for sure, I could have made a ton of money over the past two weeks by selling highs instead of holding and hoping for higher highs. This happened with both Doge and MATIC where I hit a high profit margin and instead of selling, I held on. Thought Doge could get close to a dollar, MATIC could reach $5, etc, as the next step. Those things could happen, but they weren't happening right now. Instead of holding and hoping for more, the smart thing to do would have been to fold at that point and see what happens next, as the signs of a bubble were there.
This also goes back to what
Sanrith Descartes
says, that it's important to have an exit strategy. Set a goal like +30% and when you hit that, opt out and take your earnings. Getting greedy and shooting for +80% might leave you with zero new profit a week later.
I don't know, it's really hard to judge these things as they're happening, without the benefit of hindsight. Having an exit level / profit goal in mind beforehand, and DCAing rather than dropping in a large investment, seem like two sound strategies to avoid losses.
This also goes back to what
Sanrith Descartes
says, that it's important to have an exit strategy. Set a goal like +30% and when you hit that, opt out and take your earnings. Getting greedy and shooting for +80% might leave you with zero new profit a week later.I don't know, it's really hard to judge these things as they're happening, without the benefit of hindsight. Having an exit level / profit goal in mind beforehand, and DCAing rather than dropping in a large investment, seem like two sound strategies to avoid losses.
Pretty much most people right now lol. Things were going too well and everyone wishing they had taken some more money out.One thing is for sure, I could have made a ton of money over the past two weeks by selling highs instead of holding and hoping for higher highs. This happened with both Doge and MATIC where I hit a high profit margin and instead of selling, I held on. Thought Doge could get close to a dollar, MATIC could reach $5, etc, as the next step. Those things could happen, but they weren't happening right now. Instead of holding and hoping for more, the smart thing to do would have been to fold at that point and see what happens next, as the signs of a bubble were there.
This also goes back to what
I don't know, it's really hard to judge these things as they're happening, without the benefit of hindsight. Having an exit level / profit goal in mind beforehand, and DCAing rather than dropping in a large investment, seem like two sound strategies to avoid losses.
Rajaah
Honorable Member
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Tomorrow I'm going to be able to make a substantial buy in ETH, so get yours today before it shoots back up overnight.
Considering getting more MATIC but I don't know at this point. I just want to get my cost basis lower on both of them over time now in preparation for whenever they get moving again.
Considering getting more MATIC but I don't know at this point. I just want to get my cost basis lower on both of them over time now in preparation for whenever they get moving again.
Lambourne
Ahn'Qiraj Raider
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Yeah I'm seeing the wisdom in having some strategy. I noticed there's usually a surge upwards in the last week of the month and the first week of the new month (which I believe to be because of retail investors getting their paychecks and throwing their money into the market) followed by a slow bleed downwards for a week or two. Planning on that, I went short on the 12th at 54k. Obviously it's paid off this time around.
Was planning to close out my short around the 24th, will have to see what happens in the next few days. It might form a bottom although I don't really see the confidence for a surge back up to 50k+. In the end you have to trade the market that you get, not what you want.
Was planning to close out my short around the 24th, will have to see what happens in the next few days. It might form a bottom although I don't really see the confidence for a surge back up to 50k+. In the end you have to trade the market that you get, not what you want.
Furry
WoW Office
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So we're looking at a rally today and a second crash possibly starting sometime tomorrow?
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The fear of missing out on more profits is really what gets me in trouble and stopping me from pulling money out before crashes.
Need to start taking the easy money and not worrying about missing out on another bump. Wait for another good low opportunity and get back in etc.
Need to start taking the easy money and not worrying about missing out on another bump. Wait for another good low opportunity and get back in etc.
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A week? ago (seems like a lifetime now) I finally dipped toe into this shit and bought greyscale ETH at 25 a share. Almost instantly went to 27 and I think hit 29. was "THIS" close to setting a trailing stop loss but I thought to myself " umm, I just got into this, may as well hold a bit more for that real $$".
Now its 23 a share. /clowntrumbone
I've also been swing trading MARA (crypto mine company) for months now. Obviously caught with bags on them now and praying they are not toooooo closely linked to actual btc...
Now its 23 a share. /clowntrumbone
I've also been swing trading MARA (crypto mine company) for months now. Obviously caught with bags on them now and praying they are not toooooo closely linked to actual btc...
Rangoth
Blackwing Lair Raider
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Yep!
Generally with crypto im a buy and hold guy because I really do believe it has a future as wealth store and daily use, but is a long way off. However I do try to play 2-3 “like-coin” swings on weekly basis. Not to cash out but just increase my coin count since they are all staking or earning interest! I quickly learned that when any given day can be a new all time high i need to stop trying to guess it. Id just sell when it got close and then set a lower buy to get back in based on history. There were times i fucked it up and missed a target, but if i held for 2-3 weeks it would eventually swing back down to my buy....but id always have the daily fear it wouldnt as coins just seem to randomly rocket. Good part about doing this is that unless i fold and buy back in at a higher price, i already made money 10x over....so id just keep reminding myself to be patient or pick another coin
I got lucky with the latest bomb downwards for the most part. Im either holding coins i want long term anyway or was on my downside buy in. I did get fucked on MANA since i use that as one of my swing coins(no belief in it long term). I had a sell at 1.4 or so from buying at 1.1 and of course it bombed like everything. In this case i decided to just let that sell and the MANA sit and hope in 6 months we swing back up....time will tell.
I was swing trading ETH with $ 6000-7000 when it was 2100-2,200ish. I remember doing 2 nice sell high/buy lows for easy money and then that same day I sold ETH for 2340 after a nice profit... it literally shot up 700 points without ever taking a real dip and im like... fuck me lol.Yep!
Generally with crypto im a buy and hold guy because I really do believe it has a future as wealth store and daily use, but is a long way off. However I do try to play 2-3 “like-coin” swings on weekly basis. Not to cash out but just increase my coin count since they are all staking or earning interest! I quickly learned that when any given day can be a new all time high i need to stop trying to guess it. Id just sell when it got close and then set a lower buy to get back in based on history. There were times i fucked it up and missed a target, but if i held for 2-3 weeks it would eventually swing back down to my buy....but id always have the daily fear it wouldnt as coins just seem to randomly rocket. Good part about doing this is that unless i fold and buy back in at a higher price, i already made money 10x over....so id just keep reminding myself to be patient or pick another coin
I got lucky with the latest bomb downwards for the most part. Im either holding coins i want long term anyway or was on my downside buy in. I did get fucked on MANA since i use that as one of my swing coins(no belief in it long term). I had a sell at 1.4 or so from buying at 1.1 and of course it bombed like everything. In this case i decided to just let that sell and the MANA sit and hope in 6 months we swing back up....time will tell.
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Sanrith Descartes
Veteran of a thousand threadban wars
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General rule of thumb is when you start making serious profit and don't know what to do, sell half your position. It protects your initial investment and limits your maximum downside. If it keeps running up, great. If it drops, sell and scrape the rest of your profits. Investing is about minimizing risks.One thing is for sure, I could have made a ton of money over the past two weeks by selling highs instead of holding and hoping for higher highs. This happened with both Doge and MATIC where I hit a high profit margin and instead of selling, I held on. Thought Doge could get close to a dollar, MATIC could reach $5, etc, as the next step. Those things could happen, but they weren't happening right now. Instead of holding and hoping for more, the smart thing to do would have been to fold at that point and see what happens next, as the signs of a bubble were there.
This also goes back to what
I don't know, it's really hard to judge these things as they're happening, without the benefit of hindsight. Having an exit level / profit goal in mind beforehand, and DCAing rather than dropping in a large investment, seem like two sound strategies to avoid losses.
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Rangoth
Blackwing Lair Raider
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Yea....thats always my fear too. Technically once it shots up and settles again i can restart the swing...and its not really a loss, more like opporunity loss. But this goes back to the strategy thing of having a goal and entry/exit point. I do have coins i dont touch, for example my eth is staked on coinbase with their eth2.0 prep thing(means i cant touch it). But i was swining with some other coins i have on Nexo because they earn interest there. So when i swing in and out i can swing to usdc(or other stablecoin) and earn 10%(not joking) while i wait for the price to adjust.
Anyway, another topic....
Does anyone use CoinStats for actual trading? Apparently you can trade on mutliple exchanges FROM coinstats with the pro version(35$/year). Also allows tracking of your multiple wallets from a single place, etc. i use the free verison now just for metrics and prices/alerts but i wanted some trusted opinions from anyone on if they use that feature.
Anyway, another topic....
Does anyone use CoinStats for actual trading? Apparently you can trade on mutliple exchanges FROM coinstats with the pro version(35$/year). Also allows tracking of your multiple wallets from a single place, etc. i use the free verison now just for metrics and prices/alerts but i wanted some trusted opinions from anyone on if they use that feature.
Sanrith Descartes
Veteran of a thousand threadban wars
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How do you short crypto? Same as stocks, the broker loans you crypto to sell at interest?
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33k on bitcorn rejected over and over. If it actually crashes down into the mid 20s I think I might buy some stuff.
Sanrith Descartes
Veteran of a thousand threadban wars
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Sanrith Descartes
Veteran of a thousand threadban wars
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