I guarantee you I have a much better understanding of mathematics, programming, finance, and blockchain than most of this board. The same arguments have been made. But there is a huge fear of missing out going on right now. Blockchain is the future. Bitcoin seems like it will have a big impact on society. But right now, it is out of control and i’d expect a big recession pretty soon when the “whales” start cashing out. Of course, who really knows. We’re in completely uncharted territory here. Anyone who is doing technical analysis on this and giving out an answer other than “who really knows” is full of complete bullshit. Technical analysis is pretty bullshit anyway. Most of the people on the internet are playing at traders and have no idea what they’re saying. They’re are just repeating tired cliches and buzzwords such as: “pump and dump”; “only invest what you can afford to lose”; “weak hands”; “FOMO”; and my personal favorite “HODL!” Lots of people are in over their heads. My advice to clutchfans is just this: be careful and don’t get burned. We’ll see what happens. But in the history of the world, unsustainable growth like this doesn’t last long.
I'm almost curious to see what the execution times on stop orders is for these exchanges during extreme volatility. Stop orders can be a complete disaster.
This is what I mean when I’m saying “don’t get burned.” The execution time will probably be absolutely horrible. When you have thousands upon thousands of sell orders hit the market it won’t look good. Your “stop-limit” and “stop-loss” orders will be useless when the liquidity becomes low. Especially on these notoriously shitty exchanges like coinbase and poloniex.
Alright let's play ball. Bought $2,500 USD at 15,830, another $2.500 at 16,200, and another $2,500 at $16930 while trying to run away from this fire last night. Intend to flip here tonight, tommorow night, or saturday night. Let's see how much I lose or gain. Willing to lose it all($7,500) USD. I'm a trader, by profession, but have absolutely zero knowledge of the fundamentals or anything about bitcoin, blockchain,etc. Just simply a position taker and speculator. I'll eat crow if I lose $7,500. But **** it, I get my summer term bonus here on Dec. 21, and that's just piece of it. I don't intend to sell all $7,500 in all go. Or even in $2,500 in increments. I'll update here as I go. No advice is given here, this simply a risk-taker....taking risk mother****ers. Likely will pick up another $1,500-$2,500 here tonight maybe or even sell, my upper cap is $10,000. That's the max I'm willing to lose for nothing. Let's see where this goes and how I'm feeling. SIL
FYI, I'm also intending to pick up at least $1,000 maybe up to $3,000 in ETH before Sunday's future's kick off. That is purely buy and hold. Also, LTC, picking up $1,000 to $1,500. I've picked up $600 worth already of ETH and $200 worth of LTC. edit: I know the future's kick off is for BTC, my way of playing is it the next attractive CC that's exchanged in these matters and can't be shorted. SIL
When it's a crash, you don't bank on stop limits or any stop orders. You go in there, and just sweep it down as aggressively as possible. This is why I'm sitting by my computer all-day all night. I'm at a hotel here in AZ, working remotely for work, and have my laptop. It's ****ing gametime guys. SIL
Would you like to compare knowledge? I know solidity. Do you? I’ve been messing around with this stuff since counterparty was the next big thing to code a smart contract on. I’ve only been actively day trading crypto this year. But the last 9 months have been great. If you’re not worried about a long overdue correction at this point, you’re a fool.
People don’t want to hear this, but this is how money is made. When overly zealous guppies are worrying about why their Alt-coin lost 70% of its value in 3 days or why bitcoin lost 50% of its value, I’m going to be there to scoop up stratis at $2.50 and Ark at $1.00. Guys like Tallanvor will be “HODL’ing” through the dip while others are smart enough to understand that isn’t how you make money.
The exchanges “magically” go back up after the worst of the sell orders are done and the price has tanked really low. It’s a good time to buy during those times. It’s worse for people looking to sell than those looking to buy. You just have to know what to look for to buy.
That's my biggest fear. But again, the ONLY advice you'll ever hear me give as a trader. Put in, what you can afford to lose. That's it. No more than that. Less, sure. Very possible somebody shuts this all down right prior to future's rolling out and it's an absolute dumpfest. I have a limit on when I'm selling out and won't let it get there. I'll eat my losses before I let it hit that area. I'm intending to dump on a peak, and scoop up some back mid-next week. Let's see how this plays out. Obviously would love to buy WACOBTC @ 16.4s, sell 20s, re-buy in at 7s sell at 2nd boom down the line. Or just not re-buy in. SIL
I'm not too active, best bet is to get in on the 2nd wave of the bottom feeders. The first one's are legitimate whales, once they start moving the scale you're no longer getting rock bottom but might as well get it on the way back up. SIL
Wow LTC just dropped from $98 to $91. If it crosses $90, picking up 1 and staggering it down every $3-5 down. edit: just refreshed, back at $98. WTF? SIL
Unless you’re using the API, have optimized your code, have a very good computer, and have the guessing skills of a finance guru, you’ll never be able to get the bottom. The best chance, as you said, is after that first wave.
I'm sure you are very smart. no need to keep telling me. Im sure it will crash and therefore nobody should buy.
That wasn’t the point of anything I posted. But you got butthurt for some reason and disregarded everything I said so I had to clarify my experience. I’m also sure you’re not the brightest bulb based on all of your D&D posts and one liners. So maybe just, idk, don’t respond to me? Attack the content, not the source.
