I started with 2 BTC and ended up with almost nothing by trading altcoins...

I started with 2 BTC and ended up with almost nothing by trading altcoins. My hopes and dreams of potentially increasing my wealth have been crushed.

Ask me anything.

Don't sell, it's just the binance bot pushing the price down
Whales are accumulating.
It's like buying eth at 4$, it got down then went up 100x !

What alts OP?

I’m not buying your overpriced bitcoin bags. You can enjoy the crash along with every other noob that bought that obsolete trashcoin

Counterparty XCP
NEM/XEM
Factom FCT

lmao serves you right

Why?

How did you manage to lose so much money?

What kind of position sizing were you using?

What is your risk management strategy?

Thanks.

Buy high, watch it drop and don't sell.
I used quite a bit of my savings.
I had dreams of buying a house with crypto earnings but that is all to waste as of now.

Check the charts, perhaps you can understand what I'm saying.

I bought .1 of OMG when BTC was 3k.
Now it would be under .05 BTC

Someone last week said that buying .5 BTC to ETH in July w/ BTC would still be less than the ETH would would have right now.

Alts are ok , but you have to take profits
far more often than what Crypto experts
like to say.

With rare exceptions, it seemed much better to just hold Bitcoin rather than trade into altcoins.

I wish I never did any of it, but it's too late for that now. I can't blame anyone but myself but don't see how I'm going to recover from this.

>buy high, sell low

Never change, Veeky Forums.

I did not sell. XCP for example needs to go up 600% for me to break even.. It's depressing to even write.

But I mean, assuming you never use more than 20% of your capital in any single trade, you would have had to make a 100% loss 5 times...

Close to that, yes.

Counterparty is my worst and it dropped roughly 85%, so that leaves almost nothing of my investment.

>implying fags on this board don't go all in on crypto

>invested a portion of my gains for 2000 USD a month after taxes from now til the foreseeable future, gonna keep leveraging my gains to get more passive income

I don't think any of them is an actual shitcoin. Theyt just need much more time to grow, especially NEM.

Did you sell OP? Please tell me you didn't. Even Dogecoin bounces back every few months.

>tfw if i had just held btc in cold storage i would have more btc than i have currently due to losing most of it day trading/gamblng

Me2. I started about 2 months ago and I'm down 90%.
Though that's not including airdropped coins i don't have any eth to move from mew.

Not yet. Very tempted to do so though, every waking day my money shrinks and it's depressing to see.

its about buying the right coins at the right time!! Look for coins that are at the start of their life, ie:cheap, have an experienced & known team, growing community, proven tech.... research on bitcointalk,reddit,twitter,slack. Dont buy in when everyone is hyping a coin and its already pumped as youll prob just lose $$$. I have a massive position in ARK & a fair amount of Waves & im still amazingly ahead compared to 5-6 month's or more ago, even with recent downward spiral & im hodling!!

If you still have some BTC left put it all on REQ and let it ride the 10X gains.

Shills like this are what influence poeple to these actions - you are no better.

I did it based on calls by 'traders' and my own bad choices, though.

I started like that - eventually it all went down the drain. It's practically gone at this point. I doubt I will ever recover.

Just buy ethereum

What alt are you even talking about?

It's taken me 4 years to get to where i am, in 2014 after Gox all alt prices were in the shitter, it was 100 X worse than now. U just gotto sit it through and try make the best moves you can to get more BTC together. personally i love ark , if you got enough of it the dpos gains are great and its blatantly a great long term hodl!!

how did you determine your entries and exits ?

I invested based on calls by trading groups. They presented analysis, charts and it seemed valid/legit. I went 'all in' with my availible BTC at the time.

It all went to shit and I kept hoping it goes up.

Look at XCP - this coin is literally at its lowest point EVER. Who could see that coming.

Keep your chin up bro. Learn from it, be better, you're gonna make it.

bitcoin going to 10x in 3 months

did they show you shitcoins like top 20 cmc or like top 200 cmc ? do you know basic TA stuff or did you just blindly follow them? Did they have exits? You can easily tell if this is a legit trading group if they tell you exits too, otherwise they just dump on the members.

Which means my holdings will probably go even lower, is -99% possible?

Likely at this point unless BTC stabalizes.

Alts go down when BTC rises
Alts go down when BTC drops.

Yes they did - but advised to keep holding and see what would happen. They provided S/L levels though.

just hold, lots of stuff has dipped this hard before only to reach new ATHs later

you need a lot of patience, sometimes doing nothing for 3-6 months is the best play. This space attracts a lot hyperactive idiots who need to be buying/selling every single day - if you're really great at doing that then go for it but i think most people are deluded and end up losing money that way. just hold, wait, you're down so much that selling now can't make sense in any regard

True, what about XRP?

the alt down when btc rise/fall shit is kind of a meme

they will rise when BTC falls if it's when people are pulling money out of BTC and buying up cheap alts, which is exactly what's going to happen

the only time you see alts fall when BTC falls is when people are pulling money out of BTC and into non-crypto investments or fiat. This time we're going to see a massive altcoin reinvestment. Alts will moon.

cut your loses and all into btc, you'll make it

Oh yeah that's different. Sell that shit as soon as you can.

>Alts go down when BTC rises
>Alts go down when BTC drops.

that is not 100% correct, it depends on BTC dominance. there are timeframes, when the BTC hype is low, where some alts follow BTC. you can make a solid profit if you spot alts which follow BTC, and trade alts through BTC chart, not kidding, it's pretty simple you see green candles on BTC, you go e.g. long on OMG and 30s later OMG charts adjusts to BTC. there are also some alts which don't drop when BTC drops, but rise when BTC rises. You just have to spot them and watch multiple charts at the same time. and yeah, when i started i lost everything in the first month too, you gotta learn how to trade. It's not like you start trading and you instantly know what you are doing. you just need experience and you have to analyze your bad trades to spot what went wrong.

>investment group advising to keep holding
laughing at your life mate what are you doing

>gloating at misfortune
>rather than providing constructive criticism

Guess outside of my lost money I still have things money can't buy unlike you.

i don't usually say hold but now is the time to hold. don't fomo into bitcoin