I'm a bandwagon-jumping newfag who was late to the coin party
The thing that sketches me out about these coins is the possibility of everything just crashing to zero. There are tons of black swans that could do it: some vulnerability is found in blockhains, governments step in and ban/regulate coins, quantum computing BTFO's private keys.
I'm not putting even 1% of my portfolio into these fucking meme coins without my escape chute locked and loaded at all times.
So, how do you guys set up stop-loss orders that dump your coins and put it into fiat? What's the best exchange to use for that?
> Bittrex has stop-loss orders, but it looks like they settle in BTC, not USD. > Coinbase you can hold USD once you verify your account, but not set up stop-loss orders (maybe on their GDAX exchange or w/e)? > I'm not on - Kraken you can hold fiat there? Can you set up stop-losses to settle in fiat?
Bittrex: use conditional orders. Sell below x price.
If you want Dollars, use the Tether (USDT) markets.
Ian Richardson
Uhhh, how about not investing what you're not comfortable with losing?
You have to pretend you're never getting the money back, and if you do, well nice!
Anything else and you get too emotional with your trades. This money is a retirement fund, not a replacement for a job. In fact, it's a high risk retirement fund that you may never see again.
The rewards greatly outweigh the risk though.
Lincoln Jackson
gdax has stop, kraken can hold fiat. dont know if kraken has stop
Jeremiah Bell
You WILL lose your money if you rely on stop loss. The whale bots are designed to short squeeze people and trigger stop losses.
William Barnes
Invest what you can comfortably lose. 4x your portfolio. Remove initial investment back into fiat. Only trade with profits.
Grayson Phillips
Protip: if there are "a ton of them", then they're not black swans. It's just a shitty vehicle.
Jacob Gonzalez
I thought tether was a scam? And, you can't settle trades for other coins in tether, right? When you set up a stop-loss it's denominated in BTC
No, totally onboard. I'm not new to investing, just crypto.
Crypto is going to be like, 1-2% of my portfolio.
But even with that, a stop-loss feel mandatory - look at the chart of bitcoin... like... it is so blatantly in a bubble right now. I think crypto will be part of our world going forward, but it's current valuation could pop at any time. Owning these coins without a stop-loss seems insane.
That's more or less what I'm doing. But even if I'm just playing with profit, I want to lock in some of that value if there's a crash
I'm fine with that. I want to set stop-losses below whatever the recent floor is, so that if a coin crashes I lock some profits. If I get shaken out it's nbd, I can buy back in on the next dip.
David Cox
You realize the chart is old as fuck and if you thought it was a bubble at $2500 you already lost a fuckton of money. Linear charts are 100% fucking useless.
Henry Cooper
The new chart proves the point even more...?
Easton Nelson
nocoiner?
Wyatt James
This. I used to think stop losses were free insurance too.
Fuck that. The answer is to buy good projects and just fucking hold them.
Andrew Price
Just hold BTC and martingale alts eventually u get somewhere. Setting stop losses isn't 100% it could miss or be high or lower then the price I wanted. Usdt is shit. Look for other hedges or long short BTC with BTC on leverage.
James Sanders
Seriously? I thought people on this board didn't use stops because they were idiots. But actual smart people don't use them?
Aaron Baker
> > > (You) > >Seriously? I thought people on this board didn't use stops because they were idiots. But actual smart people don't use them? Stop losses is great for leverage trading or forex but shitcoins not so much. I have had stops activate above the price I set it to and the coin went up. Stop losses are not entirely reliable in crypto.
Jordan Harris
>I thought tether was a scam
Stop believing every shitpost your read on Veeky Forums. That's just BCCfags praying that BTC will go down so their shitfork will go up.
Adam Gomez
What does the BCC/BTC shit have to do with tether?
Adam Ward
> >>I thought tether was a scam > >Stop believing every shitpost your read on Veeky Forums. That's just BCCfags praying that BTC will go down so their shitfork will go up.
Tether is fake Fiat. Tether/BTC price will tank way harder the real fiat. It's done it before and will do it again.
Aiden James
Yeah. I used to use them. It's a nice trick to get the noobs.
The reason is that whales operate by triggering stop losses. They know "ok..where would somebody set a stop loss? Ah...right here. Ok I'll just dump it to that point, watch it crash, then buy the dip and pump it back up."
And they repeat this process on purpose.
Remember that this whole trading game is a direct competition with somebody else. The second you start using stop losses, the whales will attempt to use your stop losses against you because this is a manipulated market.
Sebastian Allen
I only use a stop after a certain percentage gain, simply to sure that gain in a volatile market like crypto. I have to sleep some time
Brody Fisher
>I thought tether was a scam? Maybe. But so far it works. A lot of cryptos could be a scam. You can never know until the scam is revealed.
Bitcoin isn't a scam, we know that for sure, so why don't you trade Bitcoin / alts?
