I lost $8000 trying to trade cryptocurrency

>buying other cryptocoins than bitcoin

>trade cryptocurrency
You had it coming.

Made $186,000 trading cryptos.

Over how long? How much capital did you start with?

I've made approximately $17,500 CAD leverage trading Bitcoin since December.

It can be wildly profitable, but you need strong risk management skills

>tfw 200 eth at .50 cents

wow how do you do this? How much money do you use to trade?

what was your capital? how long did it take you?

Van anyone recommend promising cryptocurrencies to invest in that have similar potential to bitcoin? This is new to me and I wish I'd bought bitcoin years ago when I 1st heard of it. It sounded like a gimmick then though...

I trade on OKCoin using futures contracts (choice of either 10x or 20x leverage, I stick with 10x).

Made the majority of my profits deciding by taking a large long position and holding throughout the majority of the December run-up. Was almost entirely out of my position by the time it crashed.

I made about 9-10 BTC on that initial run-up. Oddly enough, it was the fact that I was a complete novice to trading that allowed me to take such a large position and not fret about it. I wasn't fully aware of the dangers of using such excessive leverage.

Now that I've learned a bit more and ratcheted down my position sizing and become more effective at risk management, my positions are not nearly as large and I do not hold them for as long. Between the crash in early Jan and now, I've made approximately 1.5-2 BTC in profit.

Leverage trading is serious business though and should not be thought of as "easy money". It is all too easy to seriously hurt yourself beyond what you thought was possible by putting on too big a position.

I initially allocated 5 BTC to OKCoin and went long around 20-30 coins at 10x leverage (so I had 2-3 BTC in margin). That turned into 15 BTC at the end of the Dec rally and I've been trying to churn small, consistent profits since then since the market volatility has been so high during Jan/Feb.

Withdrew most of my winnings to cold storage and actively only keep around 5-6 BTC in equity on my OKCoin acct.

Over what timescale? With which quantity of capital?

>the fact that I was a complete novice

Cryptos are a risky business even without leverage.

If you're more interested in sound risk management now, there are plenty of other securities available with less volatility and/or risk that offer great leverages.

Great work anyways. Any favorite techniques/indicators?

i won 8000 trading pepecash already. targeting 20k profit soon.

Although that may be true, I know the bitcoin market better than the markets for other securities and have been involved with Bitcoin since mid-2013, so although I'm new to trading I understand the market to some degree.

The 24-hour nature of the market is quite appealing as well, although perhaps in the future I'd like to think about moving to other asset classes if I can demonstrate consistent returns and discipline trading Bitcoin.

I usually just use MACD and Bollinger Bands to look at the market as well as the level2 data provided by OKCoin to look at market internals.

Having just broken the prior ATH though, I'm scaling into a relatively larger long position on dips and hoping to try and repeat my process in December, although the headline risk of the ETF falling through in March could really hurt me if I get too exposed.

>he fell for the meme
>blaming anyone but himself

What was the magnitude of your financial involvement? In what timeframe did you achieve it?

how are u fucks so retared? you think a frog poster actually makes money?

every single posts only asks about time-frame and capital in a investigative way

the fact that critical questioning appears gullible to you is very interesting.

What do you get out of telling such ridiculous lies?

I'm not saying he isn't lying, but there are definitely people out there making way more than that from trading cryptos.

I know closely (family) someone that works in the options department of the SEC, and although he obviously isn't directly working on the ETF, he knows about it and thinks the chances of approval are tiny based on the way the SEC operates and historically what sort of notes/funds it approves.

I've done more research about it and think that the market is pricing in a ~30% chance of approval, which I think is far too high. What's the best way to take a position to exploit this?

Well, yeah. And there are multimillionaire day traders who drive six figure sports cars too, but I'm guessing that you don't believe I'm one of them.

I believe you can be one of them, if you just believe in yourself.

Currently thinking about just pulling a max leveraged max sized short on Whaleclub

I already am.
But thanks for your support, nonetheless.

what was your starting capital? over what period of time?

Kek

Sounds like you need to try investing in more alt coins like trumpcoin

>I lost $8000 trying to trade cryptocurrency.

What did you learn from this experience?

>what was your starting capital?
>over what period of time?
I doubt these answers really would matter to you, as the vast majority of capital I possess was not gained through trading.
It's just something I do because I have a lot of time, and can afford to both make mistakes and hold large positions pretty much indefinitely.

REMINDER: YOUR SHILLFAG SHITCOINS AND STOCK PUMP AND DUMPS HAVE. N O T H I N G TO DO WITH BUSINESS.
sage sage sage. Sage. FUCKING SAGE!

KEEEKKKKKKKK

>day traders
here's your mistake

take big bets and always be exposed to bitcoin

bitcoin is your new GOD

What was your fiscal situation at the outset of this endeavor? Say time is a flat line, and we assume the start of your crypto trading to be point A and the point where you had $186,000 in profit to be point B; what is the distance between point A and point B?

>take big bets and always be exposed to bitcoin
Nah, I'll pass.
If only a few percentage points of return makes me six figures, I really have no reason to buy into something as volatile as BTC, or "take big bets" in general.

stay poor

>trump, brexit
how many times can you lose money betting on what odds say

>a few percentage points of return makes me six figures
>stay poor
I think you missed the point, bud

who practices trading with 8k.are you high

>I own a landscaping company hur dur

So wait for it to go up and stop being such an impatient greedy faggot

Looks like Boardroom Jimmy's getting the word out

kek

nice LARP

That's too bad.

I've lost $5000 with my only foray into shortselling. I've lost ~$8000 with my forays into options trading.

Boo hoo, I was fucking around with fire and shouldn't have anyways, but I was doing it with what I was prepared to lose.

Nice cope