October 6, 20214 yr Quote The price of the world's most valuable cryptocurrency spiked nearly 10% Wednesday morning to around $55,000, following news that the investment firm founded by billionaire George Soros owns bitcoin. Kz:
October 6, 20214 yr I won't be surprised if there's massive profit taking and btc drops back under 50k by the end of the night on the same hand I wouldn't be surprised if it breaks 60k either... Still thinking it goes back under 50k before it rallies again
October 6, 20214 yr 26 minutes ago, Aspiritfall said: I won't be surprised if there's massive profit taking and btc drops back under 50k by the end of the night on the same hand I wouldn't be surprised if it breaks 60k either... Still thinking it goes back under 50k before it rallies again Is some support sitting at 53.9k which could hold it.
October 7, 20214 yr I just put $2000 into Shiba since coinbase supports it now. I'm about to find out if all the hype is BS or real.
October 7, 20214 yr 23 hours ago, DaEagles4Life said: Is some support sitting at 53.9k which could hold it. There is going to be a lot of resistance in the 57-59K range. That’s the one to really watch if you’re looking for new all time highs.
October 8, 20214 yr Author On 10/7/2021 at 8:43 AM, Khani1 said: I just put $2000 into Shiba since coinbase supports it now. I'm about to find out if all the hype is BS or real. It never ceases to amaze me that people are addicted to buying garbage when there are brilliant ideas staring them right in the face
October 8, 20214 yr 2 hours ago, mattmcginley7 said: It never ceases to amaze me that people are addicted to buying garbage when there are brilliant ideas staring them right in the face Yeah, this is one of the dumbest things I’ve ever witnessed. You want to speculate on something like ETH which has legitimate use cases, I get it. But these meme coin things are the dumbest thing I’ve ever seen. Everyone buying in because if everyone else buys in it goes up. Do they not realize they have to exit the trade to take profit?
October 8, 20214 yr 23 minutes ago, TEW said: Yeah, this is one of the dumbest things I’ve ever witnessed. You want to speculate on something like ETH which has legitimate use cases, I get it. But these meme coin things are the dumbest thing I’ve ever seen. Everyone buying in because if everyone else buys in it goes up. Do they not realize they have to exit the trade to take profit? Similar mindset of gambling or playing the lottery. Buy in at the right time and exit at the right time, and you can make some quick money. Do it at the wrong time and you can lose some quick money. Hopefully who’s ever playing the game treats it as such, in that I mean if they lose the money, it was money that wasn’t "needed” and could afford to be played with, just like betting on football on the weekend.
October 9, 20214 yr Author On 10/6/2021 at 10:14 AM, Aspiritfall said: I buy crypto on Robin Hood Coinbase and Etoro... I hold in Coinbase and Robin Hood and decided to try trading with my Etoro account basically just to gamble with it... Sold my bitcoin and etherium and will buy again after a pullback I'm not a fan of this strategy. I would invest less if you feel like you should take some off the table and just hold the whole time. Holding murders trading and will continue to do so
October 9, 20214 yr 2 hours ago, mattmcginley7 said: I'm not a fan of this strategy. I would invest less if you feel like you should take some off the table and just hold the whole time. Holding murders trading and will continue to do so I am holding... My Etoro account is the one where I am going to be trying to trade just for the hell of it... I only threw in just over 200 bucks and I'm looking at it basically gambling
October 9, 20214 yr Author Just now, Aspiritfall said: I am holding... My Etoro account is the one where I am going to be trying to trade just for the hell of it... I only threw in just over 200 bucks and I'm looking at it basically gambling Fair enough
October 9, 20214 yr 2 minutes ago, mattmcginley7 said: Fair enough I definitely agree with you about holding I just wanted to screw around with a small amount of money and see what happens
October 10, 20214 yr On 10/8/2021 at 2:58 PM, Phillyterp85 said: Similar mindset of gambling or playing the lottery. Buy in at the right time and exit at the right time, and you can make some quick money. Do it at the wrong time and you can lose some quick money. Hopefully who’s ever playing the game treats it as such, in that I mean if they lose the money, it was money that wasn’t "needed” and could afford to be played with, just like betting on football on the weekend. Bad take Might be gambling to you because you do not know what your doing, but I haven't lost money on a trade in last 6 months. Just figure out how to read graphs, Fib lvls, understand higher highs and higher lows, and invest in projects that aren't garbage.
October 10, 20214 yr On 10/9/2021 at 10:12 AM, mattmcginley7 said: I'm not a fan of this strategy. I would invest less if you feel like you should take some off the table and just hold the whole time. Holding murders trading and will continue to do so If you’re a good trader, crypto is a great place to be because of the volatility. You’ll get moves in an hour trading crypto that would take weeks in equities. Sh** ton of money to be made if you know what you’re doing. But that’s the catch... 99.9% of people "trading crypto” are going to lose everything they put into it because they don’t know what they’re doing.
October 10, 20214 yr Author 4 hours ago, TEW said: If you’re a good trader, crypto is a great place to be because of the volatility. You’ll get moves in an hour trading crypto that would take weeks in equities. Sh** ton of money to be made if you know what you’re doing. But that’s the catch... 99.9% of people "trading crypto” are going to lose everything they put into it because they don’t know what they’re doing. Ultimately it's volatile up. The returns I've made no way any trader is out doing % returns. And the % returns are so absolutely massive just by holding you don't even need to worry about trading I think when you hit certain goals along the way, you take out some if it becomes worth it to you. And you have to assume you'll never get that same size position back ever again
October 10, 20214 yr 35 minutes ago, mattmcginley7 said: Ultimately it's volatile up. The returns I've made no way any trader is out doing % returns. And the % returns are so absolutely massive just by holding you don't even need to worry about trading I think when you hit certain goals along the way, you take out some if it becomes worth it to you. And you have to assume you'll never get that same size position back ever again The history of most crypto is basically falling to zero. That tweet about alt coins and their parabolic moves neglects to tell you that most of them went to near zero after the crash. Then you have to consider the opportunity cost of tying up your money for several years until the new bull cycle. Yes, the big ones have insane returns over the long run but a good trader is going to be capitalizing on the vol in both directions. Even BTC has lots of 30, 50, 70% moves down. 5-10% in a few hours is kind of normal. A good trader can make crazy money working in that kind of environment. I wouldn’t recommend trading to anyone who wasn’t a seasoned pro, but good traders mint money in volatile environments. I think the problem is that most people come in during Bull cycles and think they’re great traders because they’re leveraging a bull market and don’t realize the type of pain they’ll feel when the rug gets pulled.
October 10, 20214 yr 6 hours ago, DaEagles4Life said: Bad take Might be gambling to you because you do not know what your doing, but I haven't lost money on a trade in last 6 months. Just figure out how to read graphs, Fib lvls, understand higher highs and higher lows, and invest in projects that aren't garbage. I think sports betting is the perfect take. Like sports betting, most people lose in the long run. Like sports betting, there are a very small number of people who have a long term edge on the market. You do you, but if you’re new to trading and just longing your favorite projects on swing trades then I’d be very, very careful. Make sure your risk management is tight because you can get liquidated in minutes trading crypto.
October 10, 20214 yr 1 hour ago, TEW said: I think sports betting is the perfect take. Like sports betting, most people lose in the long run. Like sports betting, there are a very small number of people who have a long term edge on the market. You do you, but if you’re new to trading and just longing your favorite projects on swing trades then I’d be very, very careful. Make sure your risk management is tight because you can get liquidated in minutes trading crypto. Sure and will 99% of traders will think BTC will hit 1 million after it breaks 100k and miss selling at the top which I believe is between 320k and 400k. I already have my exit strategy in place and my re buy strategy in place when it goes back to 60k. I just think if my 13 year old can understand it then anyone can. Like anything in life it just takes WORK
October 10, 20214 yr Author 18 minutes ago, DaEagles4Life said: Sure and will 99% of traders will think BTC will hit 1 million after it breaks 100k and miss selling at the top which I believe is between 320k and 400k. I already have my exit strategy in place and my re buy strategy in place when it goes back to 60k. I just think if my 13 year old can understand it then anyone can. Like anything in life it just takes WORK I've watched brilliant macro investors admit they got smoked trying to trade Bitcoin. And you're gonna get smoked compared to holding if you think it's gonna play out that way https://twitter.com/gregschoen/status/70261648811761665?s=21
October 10, 20214 yr Author Lmfao guy was STILL paying off student loans years later. Think about how bad his returns were. If he held, he would have beat every trader in the entire world on everything
October 10, 20214 yr Author If you sell... Assume you'll never get that same amount back ever again at that price. You're not on the inside, you're not a market maker, and you're selling what is ultimately still significantly undervalued compared to where it can be. That's playing with fire if you think you're smart enough to get a pullback and outearn the captial gains tax as well.
October 11, 20214 yr 23 minutes ago, mattmcginley7 said: I've watched brilliant macro investors admit they got smoked trying to trade Bitcoin. And you're gonna get smoked compared to holding if you think it's gonna play out that way https://twitter.com/gregschoen/status/70261648811761665?s=21 It will dump like 2017 and silly to think holding on at the max peak is dumb and it's your inability to know the market. Doesn't matter if ETF come into play or not, it will dump.
Create an account or sign in to comment