[QUOTE=Big Dumb American;52973245]
If you do put money in now, I would urge you not to put yourself at risk. Assume that any money you put in is irretrievably lost. If you can't afford that loss, don't do it. Hopefully you'll get lucky, but don't plan on it.
[/QUOTE]
Pretty much this!
[QUOTE=DiBBs27;52973323]
I make all my investment decisions in crypto as if I'm buying oxygen and consider any money i spend on it already gone.
[/QUOTE]
I imagine I burn with fire to whatever amount of money I plan to buy. If I can't bear to do it, then I won't do it.
[QUOTE=arleitiss;52972993]How do you know? And how do people predict it?[/QUOTE]
They check the statistacs skrrrrrr pop pop!
[QUOTE=Snoberry Tea;52963738]Lmao $140,000 isn't that much. If he's smart/careful it'll help him in a lot of ways but he's not gonna be able to quit his day job.[/QUOTE]
If you get that much and then don't change how you live at all then you essentially have a pretty dang big safety net forever and you don't have to worry about some sudden thing fucking up your life.
I'm thinking it could pop once it hits 20k. Because when it reached 19k it slipped downwards, and 20k is a nice round number for people to say "good enough, time to sell"
You know what sucks real cock?
When you buy up shitty coin for 10 cents a piece, so you buy 300 coins.
Then wait a day, it goes up by 70% and you decide to sell it, yes you make profit.
But that shit keeps gaining price and now it's at 104% and you realize you could've waited a bit longer.
But then again, I fucked up like this before - by waiting too long, I think I should adopt to a method of: setting a price target/point and then selling rather than waiting for gamble to go either way.
[QUOTE=arleitiss;52977011]You know what sucks real cock?
When you buy up shitty coin for 10 cents a piece, so you buy 300 coins.
Then wait a day, it goes up by 70% and you decide to sell it, yes you make profit.
But that shit keeps gaining price and now it's at 104% and you realize you could've waited a bit longer.
But then again, I fucked up like this before - by waiting too long, I think I should adopt to a method of: setting a price target/point and then selling rather than waiting for gamble to go either way.[/QUOTE]
I think there are places that allow you to auto-sell at a price point you specify
[QUOTE=Zombinie;52977151]I think there are places that allow you to auto-sell at a price point you specify[/QUOTE]
I am using place that allows that.
The problem is - I monitor price, when I see price change rapidly within span of 10 minutes - I cancel my order and set it to higher point.
Today's example:
I bought it for 0.00017 yesterday.
I've set it to auto sell at 0.00025
When I woke up, I saw it's still coasting around 0.00017-18.
In work I monitored price - and it started going up at around 1-2 PM (when US population woke up).
It started going 0.00022, it went from 0.00022 to 0.00025 in 3-4 minutes, so I canceled my order and made new order to auto sell at 0.00030.
Within 20 minutes it reached 0.00029.
So I canceled my order and set it to 0.00035.
It reached 0.00033 and then started dropping.
I waited few hours and it dropped to 0.00026. (I should've capped here and sold it at 0.00032 when I saw drops)
So I set order to 0.00030 again.
It reached 0.00029 in few minutes.
Again - I changed order to 0.00035
Again - it reached 0.00026
So I set it to 0.00030 again
This time it was sold it at 0.00030.
This was quite a wild ride, so I think I should rather just settle for certain profit-point and wait, although due to all this musical chairs shit - I ended up selling it at 0.0005 more.
Neo?
Do you guys think litecoin is going to bounce back? Is now a good time to buy?
Edit:
Fuck it, I bought 2.
[QUOTE=Zombinie;52978689]Do you guys think litecoin is going to bounce back? Is now a good time to buy?
Edit:
Fuck it, I bought 2.[/QUOTE]
Crypto daytrading in a nutshell.
[QUOTE=Zombinie;52978689]Do you guys think litecoin is going to bounce back? Is now a good time to buy?
Edit:
Fuck it, I bought 2.[/QUOTE]
Did you even look at the charts? It's certainly waiting to bounce back - back down that is. If you bought at these ~300$ prices, you're in trouble. But this is crypto. If there's anything I've learned trading them, it's that for whatever reason at times they utterly refuse to do what common sense would dictate.
If I were you, I'd definitely not have bought though. Buying the all time high is generally a bad idea.
[QUOTE=just-a-boy;52978803]Did you even look at the charts? It's certainly waiting to bounce back - back down that is. If you bought at these ~300$ prices, you're in trouble. But this is crypto. If there's anything I've learned trading them, it's that for whatever reason at times they utterly refuse to do what common sense would dictate.
If I were you, I'd definitely not have bought though. Buying the all time high is generally a bad idea.[/QUOTE]
I'm thinking long term, I find it hard to believe it won't rise in the future, and I've already sold my old batch at the all time high, so what I just bought was ~$100 less/ltc and I do think it will reach as high as it has before later on. What it just reached a while ago was an all time high so far, but I don't think it's the highest it will ever go.
[QUOTE=SIRIUS;52973511]Is it possible to just kinda dip my toe in, make a little bit of money and gtfo?[/QUOTE]
Yes, but it depends on how you do it. Most exchanges require you to verify your id for any way to instantly buy/sell funds. If you don't do this it's gonna be harder, and more stressful due to 5-7 day wait times.
You'll also want to buy at a low and sell at a high, and not just hit buy once you sign up then wait (this can work but is an unnecessary and underprepared risk)
This is just assuming you're going for one of the bigger coins, as well. Smaller cryptos have better margins but require an additional level of knowledge to understand transfers and stuff.
[QUOTE=just-a-boy;52978803]Did you even look at the charts? It's certainly waiting to bounce back - back down that is. If you bought at these ~300$ prices, you're in trouble. But this is crypto. If there's anything I've learned trading them, it's that for whatever reason at times they utterly refuse to do what common sense would dictate.
If I were you, I'd definitely not have bought though. Buying the all time high is generally a bad idea.[/QUOTE]
I bought at 335, AMA.
These last 48 hours have been disappointing. I keep thinking I could have bought at 260 if I waited a bit longer but hindsight is 20/20. And you know what? There is nothing I can do about that except sell at a potential loss a week from now when my payment actually goes through. Seriously, even if I wanted off Mr. LTC's wild ride, I am forcibly strapped in. :v:
Right now, my plan is to just sit on it and hope I can at least recoup principal. Alas, it could dip sub-200 or it could go all the way to 400. Who knows?
Time has shown that nobody can definitively say what's going to happen with the price of cryptocurrency and it irks me when people try.
[QUOTE=Dave_Parker;52978930]Abandon this mindset. Set a profit target before you buy, exit when it hits. Don't think "aww if I had just waited five more minutes...", think "I got my profit, I'm out and will pick my next trade".
If the exhange offers it, I recommend taking out 75% of your position and putting the last 25% on a trailing stop if you think it'll keep rising after you hit your target.[/QUOTE]
Yeah, I've been burnt too many times for this "I will wait".
Gotta stop getting depressed over the "should've waited"
[QUOTE=Dave_Parker;52978930]Abandon this mindset. Set a profit target before you buy, exit when it hits. Don't think "aww if I had just waited five more minutes...", think "I got my profit, I'm out and will pick my next trade".
If the exhange offers it, I recommend taking out 75% of your position and putting the last 25% on a trailing stop if you think it'll keep rising after you hit your target.[/QUOTE]
I can't agree with this enough.
I think the most important part of really any investment, personally, is to not think in terms of "profit I could have had" and instead in terms of "profit I [b]do[/b] have."
You can pine until your heart bleeds out about what [i]could[/i] have been. In the end, all that matter is what had [i]really[/i] been.
Is there a general cryptocurrency thread on FP?
What do you guys think of the concept where you put in few hundred euros in several altcoins that look like they have potential and literally forget about them until the end of 2018?
I wouldn't mind a general crypto thread if someone were to create it.
Someone with more experience should just make on in GD, it doesn't have to be fancy or anything.
I only got into crypto literally 2 days ago, and just plan on buying 3 altcoins and literally not even look at them until 2019.
[QUOTE=dzonint;52979883]Is there a general cryptocurrency thread on FP?
What do you guys think of the concept where you put in few hundred euros in several altcoins that look like they have potential and literally forget about them until the end of 2018?[/QUOTE]
Unironically, this is a strategy that is bound to grow profits. At one point I studied all my trades for 2017 so far, and around 90% of the coins I ever touched have gone on to pull like 5x-100x growth. The problem is you'll still need quite a bit of starting capital since there are over a thousand coins. But you should be good if you throw, say, 250€ into coins and tokens that you/internet consensus seems to have labeled "legit" projects. Essentially filter out too obscure/sketchy/too ambitious/pointless projects and go for projects that would actually attempt to tackle an issue or occupy a market niche.
Then you would have to resist the urge to start trading and messing around with them. Buy them, stick them in wallets (keep your shit off exchanges unless actively trading!) and let them ride for a good 2-5 years. Feel free to keep throwing more 250 stacks into new projects/trusted old projects to grow holdings.
[QUOTE=Dave_Parker;52980664]
Very dumb. Altcoins are very volatile and need active management. If you want to invest a few hundred euros and forget about it, just put it in $SPY.[/QUOTE]
Don't a lot more people get burned by daytrading instead of just HODL for a long time?
I mean, I plan to invest ~800ish euros I gathered freelancing over the summer, that's quite significant money (esp. for a college kid) around here but still, the potential of profit far outweights the risk of losing it all, and even if I lose it all, fuck it, I'm still practically a kid and I'm not in any debts.
If there was a crypto thread, I'd love to post the mining setup I'm designing once I get it all together :smile:
It's gonna have a shitload of noise cancellation and will double as a space heater.
Long-term goal is to replace a house furnace with bitcoin miners :v:
[QUOTE=Dave_Parker;52980862]Yeah but most people are idiots. I was just at an ATM and people were talking about crypto trading in the queue. To me that's a clear sign to get the fuck out of crypto. If you don't know the basics of TA stay out of daytrading. If you want to HODL go with BTC, LTC or ETH imo. Buying altcoins seems like a recipe for disaster considering their volatility.[/QUOTE]
Isn't that the point tho? More people talking about crypto > it becoming more mainstream > more people wanting to invest > shitload of profit for early adopters.
Especially considering the fact I plan to invest into altcoins before the new year, and none of them are on mainstream trading platforms (main goal is to get them before any of them potentially appear on CoinBase).
As I said, I'm looking at altcoins for long term investment, where I either go hard or go home in mid 2019 or so.
I bet half of FP can't gain USD value trading crypto.
I bet half of the remaining half of FP can't gain BTC value trading crypto.
[editline]16th December 2017[/editline]
Everyone looks like a genius in a bull market.
[QUOTE=Dave_Parker;52980862]Yeah but most people are idiots. I was just at an ATM and people were talking about crypto trading in the queue. To me that's a clear sign to get the fuck out of crypto. If you don't know the basics of TA stay out of daytrading. If you want to HODL go with BTC, LTC or ETH imo. Buying altcoins seems like a recipe for disaster considering their volatility.[/QUOTE]
Buying altcoins with cash you can definitely afford to spare is all part of the fun. Extremely high risk, extremely high reward.
I went in on ADA a few weeks ago, and Korea has basically taken it up as its holy savior.
[QUOTE=KrklndSigntur;52983910]I bet half of FP can't gain USD value trading crypto.
I bet half of the remaining half of FP can't gain BTC value trading crypto.
[editline]16th December 2017[/editline]
Everyone looks like a genius in a bull market.[/QUOTE]
Just did on that LTC run boyee.
I mean yeah I completely hold BTC besides that and it was pure luck but that's not the point.
I fucking hate capitalism and how it seems to corrupt and infest people with this insatiable desire for more. People I know who repulse normal stock trading seem to think that BTC is a "not evil" method of investment and I'm like ??? it's the same fucking shit.
[QUOTE=Chris Morris;52984467]I fucking hate capitalism and how it seems to corrupt and infest people with this insatiable desire for more. People I know who repulse normal stock trading seem to think that BTC is a "not evil" method of investment and I'm like ??? it's the same fucking shit.[/QUOTE]
I hated capitalism until I discovered the existence of bitcoins. Now I'm addicted to it.
[QUOTE=Chris Morris;52984467]I fucking hate capitalism and how it seems to corrupt and infest people with this insatiable desire for more. People I know who repulse normal stock trading seem to think that BTC is a "not evil" method of investment and I'm like ??? it's the same fucking shit.[/QUOTE]
Oh no we are investing our own money so evil and cruel we are
Sometimes you just gotta eat a few babies to make a quick buck, man
[editline]17th December 2017[/editline]
Honestly why would you click on a thread about bitcoins if you detest them so much
[QUOTE=Zombinie;52984824]
Honestly why would you click on a thread about bitcoins if you detest them so much[/QUOTE]
Yeah everyone knows you're not allowed to engage in discussions if you dislike the subject in question.
[QUOTE=Zombinie;52984824]Oh no we are investing our own money so evil and cruel we are
Sometimes you just gotta eat a few babies to make a quick buck, man
[editline]17th December 2017[/editline]
Honestly why would you click on a thread about bitcoins if you detest them so much[/QUOTE]
Oh please don't run this nonsense about it being an "investment". Usually when you invest into something it generates real value. The money is appropriated into something like expanding a company or funding projects otherwise un-fundable. It generates revenue through its success and loss through its failure. Crypto isn't an "investment" as the value is being generated entirely by gullible fools speculating on an inherently unstable "currency" (that can't function as currency thanks to the speculation).
You're playing the lottery at best, crypto trading isn't investment in the slightest. It's guesswork.
[editline]17th December 2017[/editline]
And all I want is a god damn drop in GPU prices. Crypto is a continuing bane on my existence.
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