ITT: Post legitimate things you've observed while monitoring crypto for the past year. Here's some of mine. No shitshilling pls.
>Never sell at a loss. It always comes back eventually. >Never use stop limits to sell lower than what you bought in at (sometimes using the excuse "its for emergency in case it dips really low"). You will shoot yourself in the foot cause it will dip and then come back. >The top 5 coins are always going to appreciate given enough time. >Altcoins/shitcoins are fun to ride on moon missions, but they don't last, so be more keen on jumping at any time. Also, while they're fun, dont put all your money into shitcoin missions.
Margin trading advice: >Dont trade shit coins on margin, patterns break down far too frequently. And if you must then hold positions for short periods >Reliable coin thus far for long/shorts is bitcoin. It'll make you the most amount of money. >Dont hold margin positions open if they have gone the other way. Close at a loss as its better than being liquidated >TA Isn't a meme. But know your fundamentals. >Don't think you're shit hot because you've made lots. Easy come easy go. And if you've made everything based on luck. Welp. >If you have occurred a huge loss, take some time off and come back. Do not get into the mentality of 'I have to make it back ASAP'. You'll snowball into a clusterfuck >Biggest: Be Patient.
Isaiah Taylor
>Easy come easy go
God damn right
Henry Gutierrez
>Never sell at a loss. It always comes back eventually.
Not ALWAYS. Sometimes this strat will get you fucked / liquidated.
Jeremiah Martinez
at least that isn't the norm, the odds here are better than vegas
Michael Cruz
>>If you have occurred a huge loss, take some time off and come back. Do not get into the mentality of 'I have to make it back ASAP'. You'll snowball into a clusterfuck
me
Julian Williams
If you ever want to trade on margin, scroll down twitter.com/bitmexrekt?lang=en for more than 5 minutes and think twice about it.
James Cox
>>Never sell at a loss. It always comes back eventually. It might come back to $ value, but many many many shitcoins never go back to their BTC value. EVER Just hold bitcoin, or buy and quickly resell alts
Chase Walker
Sat is what matters, fiat doesn't.
I'd wager 90% of this board is longterm bleeding in sat, the incels and pajeets have taken over a long time ago but don't be retarded and fall for the diversify bullshit.
Elijah Phillips
I dont fuck with sats if the coin is traded in USDT/USD. With fluctuating bitcoin prices, its hard to keep track of.
Ryder Campbell
You’re last point probably won’t hold like it has.
That is, there are fewer shitcoin moon missions and more tokens in service of working dapps in 2018. My prediction is that in late Q1 and Q2 next year we’ll see a lot of these really take off. The discussion will shift to “what’s this token for” rather than just a hedge against the rest of the economy.
William Roberts
even if you trade diractly, it still means that you could have just kept Bitcoin and gained more
Elijah Reyes
>hodl >don't buy shillcoins >buy DOGE. It never sinks.
Charles Rodriguez
I keep a journal which is now turning into a book. Look forward to it normies, more tips to come in the future!
Henry Gray
You are a moron
Dominic Kelly
>buy DOGE This
Ryan Cox
How to buy token?
Evan Myers
How do I not sell at a loss? I did it twice this year.
Kayden Green
1. Find out if the coin is worth less than you payed for it 2. If so, don't sell.
Ian Ortiz
>it always comes back lol nope. in what universe does this work
Ryder Jones
It does if you don't hodl shitcoins
Gavin Sanders
>Sold EOS @1.27$ back when it dipped from 6$ to 1.3$ >EOS is now 8$ >Sold BCH at loss >going towards ATH again
Market direction is always upwards even if it dips
Owen Anderson
Glad it worked out for you, but measuring in fiat is delusional. SAT value is the true measure of loss/gain.
Lucas Thomas
don't assume you understand what is happening during bull market
Daniel Reyes
Nah, didn't work out. I was a rookie back then so I sold it all with EOS.
With Bitcoin Cash I've exited on time I think, lost 50% on it and now recoved back 200%
Dylan Harris
Sorry to hear it dude, good you're up 200% though. I think almost everybody's first trade(s) are shitty, but it's all learning experience
Nathaniel Reyes
yup. thanks man, best of luck for you too
Wyatt Mitchell
Cheers bro, one day we'll be able to retire off this shit
Carter Lopez
Where do I even margin trade altcoins?
I'm bummed out that I missed on guaranteed 10x gains because I kept trying my luck with 100x margin.
The difference between 100x and 20x is bullshit. From 1% to 5%. That difference is too small to count compared to the massive gains.
Angel Johnson
>Never sell at a loss. It always comes back eventually.
It's perfectly fine to cut your losses and make gains elsewhere. If you still think project has potential, you can buy back with more. This doesn't work if you suck at trading though. And this >The top 5 coins are always going to appreciate given enough time.
Not true, look at the screenshots from coinmarketcap and observe the top 5.
>>Altcoins/shitcoins are fun to ride on moon missions, but they don't last, so be more keen on jumping at any time. Also, while they're fun, dont put all your money into shitcoin missions.
ETH was an alt coin, and your above post says top 5 will always appreciate. Blatant contradiction. You must be talking about lower market cap coins? They have made me more money than holding BTC would, so I disagree.
Carson Cooper
>SAT value what is this?
Alexander Brooks
>Never sell at a loss. It always comes back eventually. This is the WRONG mentality. I used to have this mentality when I first started. It is not that simple. Not all of them bounce back, ever, and often at a severe disadvantage to what it could have been if you had just sold. This is a HORRIBLE way to trade.
Camden Jones
In fact all of these tips are terrible, reddit-tier advice that idiots who just start trading think applies to every situation when they are still going at it blindly.
Kayden Bailey
This is far better advice than OPs. Being patient is extremely important and you should have a trading strategy and stick to it.
I disagree about considering Bitcoin itself to be that reliable, but for margin trading it might be because it's one of the less volatile coins in this market.
this is right if the majority of the volume is in USD and you're using TA though. For those trading it's not a bad idea for coins whose volume is mostly in USD because the trends are much easier to recognize in these cases.
Eli Reyes
>Market direction is always upwards In a bull market. Bull markets in this space usually last months or a few years so and then reverse for another few months or years. I'm just speaking from experience here but because this is an emerging market the bull market might last a while, or it might be a bubble and ready for a long term reversal. It's horrible advice to think 'it always goes back up."
Kayden Adams
As for my crap advice:
>research and trade in an algorithmic manner
The rest really follows from that, as some examples: >buy alts when BTC dominance is highest, sell for BTC when it's lowest >know when to cut your losses >etc etc
I can post my research algo if it's of any worth, my buying algo is a lot less fixed and more dynamic.
and most business books are dogshit, the only two somewhat worthwhile ones I've read have Taleb's Incerto and Thinking Fast and Slow and by a different author who's name I'm too lazy to dig up. Thinking Fast and Slow was much better though.
Camden Taylor
I think most people who got here after September have no idea what you mean by this. Yes it's easy to make money in this market and it's easy to cash it out and it's easy to get to the point where you've already cashed out far more than you started with. Trade in a bull market and make gains, by all means.
But when the bear market comes most of the new people here will have no idea how fucking low things can go. Far, far lower than you expect.
Like picture 10-20% of what it is now across the entire board and then staying there for 6 months to a year.
Isaiah Carter
I've been meaning to read about how to profit off a bear market, what's the best thing to do? Hold FIAT and try to buy the trend reversal/dips?
Josiah Rodriguez
>It completely irrelevant at what price you bought, all that matters is holding GAINS
Jonathan Williams
>try to buy the trend reversal/dips This is a terrible idea and it's how most traders lose money.
>it can't go any lower than this Wrong.
If you want to trade, you should trade with the trends. Since I don't like using margin with crypto at all, or rather refuse to, a lot of this is waiting for the trend to be going upwards to buy. But as a general indicator, you need to check if the asset is oversold. Is the RSI way down there below 20 but the trend looks like it's starting to reverse? That's pretty oversold and if there's news coming up which might create demand for it, I'd really consider that.
Bear markets require a lot of patience and analysis to figure out why the market is trending this way. Do NOT just try to things that look low to you and try to dump on a bounce (usually this bounce is just because it's way oversold on a smaller time frame, like the 5 minute time frame, even if it's not oversold on the daily).
