Newfag lesson: sell the news EVERY TIME

If you're a long-term holder, it doesn't really matter if the price is up or down 10-20%.
But I've learned a hard lesson from VEN and ICX.
In the bear market, money is just hopping between pumps. Every pumped coin goes back to where it started (or even lower) as people sell the news.
I worry that we won't see gains "locked in" until the bear relents... Anyone have a crystal-ball guess when that will be?

Jup this is sadly true. So are you hopping from currency to currency at the moment? I have been all in on VEN for a long time, but getting a little tired of this slow bleed out. (of most currencies btw, VEN is actually performing relatively strongly.

I hopped into WTC for a pump and moved the gains to VEN, but honestly I find chasing pumps exhausting. I'm in VEN/ETH/NEO/ICX/OMG (ultra-conservative portfolio by biz standards, no ICO stuff) and will just hold now, I think.

Painful lesson learned with ICX yesterday. Got JUST'd like a mofo.

>Don't sell the news this time!
>Weak hands will be punished!

Veeky Forums told me if I sold at $10 they'd be laughing at me from the moon in 24 hours. I will never not sell the news again.

My finger was itching to sell when we coasted near $9 but the summit was still ongoing and some stupid voice inside was telling me, "there could still be more news! They could be saving the biggest news for the finale!"
They didn't, there wasn't, and I woke up to find the price gouged the fuck out.

February 19

Thanks for the advice OP. Yeah, I've been trying to jump between pumps too, and its a pain in the ass. I was doing really well for a while there, made 0.3 ETH, but then I got fucking burned on OCN. Jumped out at a loss of 0.2 ETH and thank God I did because its down from 7 cents to 4 now.

Right now I'm in ARY. It seems promising. Just got listed on Kucoin hours ago.

The real crystal ball is needed to determine which coins will have these runs. It's not PnD, e.g. the recent renewed ICX surge lasted way too long. It's really hard to time.

I have a weird feeling REQ will be next-- it's been showing some weird price action (last night it evidently shot up to .93 before tumbling almost immediately back to .40) and positive rumors are starting to swirl again amid the usual FUD. But I'm not putting any money on it

Yes.
This market is incredibly incredibly stupid.
But I think this only happens when the token/coin has been mooning before the announcement.
That's because, even if it sounds like a meme, the news are "priced in". Everyone buys expecting the price to rise, reaching a peak point in price before the news, news comes out, nobody more to buy (because everyone who wanted to buy did it, or almost everyone), dumping begins.

this is only really necessary if you're buying near ATH's expecting the price rise 2x-3x more when it already has over the last weeks/month...

you also realize this strategy is what makes a coins price drop, when the group mentality is i need to hop from one moon trip to the next mars mission. what do you expect when everyone is thinking the same thing? i'll hop in, make money, and then hop out? how successful is this? especially when BTC is losing value each day. how much do you expect to make realistically?

its not a bad idea, but when you "sell the news" you have those that will drive the price up and even begin selling before the news gets out. fomo and panic selling is what will make you lose money.

the key is to buy early, like not VEN or ICX at $5, $6, or $7... im talking VEN at .70 cents when it began getting shilled here. then news/rumors wont matter that much if the value dips 20-50% of ATH...you're still up big

yes jumping from one to the next works, but zoom out and get perspective. look at NEO, it didnt get to $150+ overnight, it took MONTHS and through out it dipped big time over and over again

my 2cents

I agree with all of this, but what will be the next VEN @ .70cents god damn!?!?!?!

The problem imo atm is that we can't see these kinds of rises when we still have a bear market. Every time the market has started to recover, some stupid fud comes out and we go back to 500b market cap. Once this somehow ends I'm guessing we will see "gems" start gaining steady weekly gains like VEN, XRB.

I'm betting on TRAC, INT and keeping my eye on ITC. All of them have low market caps and seem to hold on steady plus they seem to be serious projects.

this is so true, can't wait till hodl fags on biz and leddit have to start trading but are too retarded. And lose all their money, feels great

Hodl = shit strategy

This is a great analysis, though buying early is easier said than done with 2,000 coins on the market, many with their own shills & hype machines, and with many genuinely interesting coins doing nothing while some copy-cats or obvious shitcoins moon.
I'm not chasing PnD anymore, but I can sympathize with people who do. A lot of people knew to sell ICX during the summit last night and made easy money. Buying early is much, much better money, but it sure isn't easy, especially if you don't have all the time in the world for research

listen, if you see something shilled here CONSTANTLY you prob are too late (or it is bc a PnD group is on here promoting nonsense)

even at 70 cents*, there was a TREMENDOUS amount of FUD here, it was unreal

if you see something that looks too good to be true, it might be, UNLESS you get in before the masses, that why DYOR is not a meme - if you cant think critically for yourself you're gonna get fucked

when BTC is crushing it, it almost doesn't matter what you get into, everything's going up, just some more than others

agreed.

but what is your (everyones) goal here? to catch moon after moon? its not going to end well. if you invested only in ETH in august and held that, how much would you be up now? a lot

everyones too short sighted to see the bigger picture, IF THERE ARE OBVIOUS POINTS AT WHICH TO SELL BC OF SOME EVENT THEN WHY ARE YOU BUYING INTO IT KNOWING THE PRICE WILL DUMP AFTER? why not wait till after it dumps to buy in when its lower and let the value increase over time?

Having a holding-stash is wise, but I suffer from the biggest FOMO of all: worrying that every single day, some brainlets half my age are making easy PnD money and increasing their main stack. That's what makes PnD so tempting-- if I could have sold ICX during the summit with some "side money" I could have increased my ETH stash instead of watching it languish. It seems like a lot of people on biz have a combined hold/trade strategy-- like 70% solid-bet coins (ETH/NEO/etc) and 30% play-money for PnDs. I'd be interested to know what proportion of them succeed with their trading

dude i'd be surprised if that many ppl on here are actually "making it" and those that are started way before most of us, like 6-12-18 months ago

for example, the same ppl that said VEN/ICX/etc. will be $100 in a month are prob the same ppl that are comparing ICX to TRX... what fucking idiocracy is this?

why are there 10+ threads for Link/Bazinga/Turtle/UFR...bc they're either promoting a PnD or they lost money and are bitter, they might make money in the long run but not overnight. 95% of biz is useless desu, you find better info on reddit


it's easy to make money when BTC is chillin at ATHs. for each person on here that's making money there is someone losing money. you need to learn to take emotion out of this, if you cant then keep everything in safe bets like ETH/NEO. you can't be worried about losing short-term.

no one here has any patience, december ruined it letting everyone think they could get rich over night.

who cares if you miss out on a moon mission, i've missed several, but also caught several. you need to focus on 1-2 max and move on. you think there wont be more? this is just the beginning

Thanks for this user. You seem like a level-headed veteran of this shit. May I ask what coins you're into at the moment? I fear I'm too diversified and looking to trim my holding portfolio

Wait a minute, what is going on in this thread? A pleasant, constructive conversation? No Sunny Lee is shady memes? No one trying to trick people into buying some shitcoin to dump on them? Dafuq?

Shhh, don't wake the bazinga shills!

That's a good hold bro. You'll have no regrets EOY

Same. I told myself I was gonna sell that fucking news like I hadn't done with WTC. But when it got to the moment my FOMO only let me sell half at 9.50, then I held on as it slid down before releasing at 7.50 today.

Sell the news is a meme - the whales no exactly what every amateur day trader is going to do - they chant the mantra on biz.. on Reddit... you tube all day long... zero sum game - hold fast let the sheep sell- don’t create a taxable event... sell on your terms... fuck /biz whales

Thanks user; I wish I had the self-control to stop looking at the charts until EOY

if this board was full of constructive conversations rather than pure bs, we'd all be rich by now... the overall tone in biz is so sad/negative/angry its like a bunch of nerdy pimply 12yos calling each other fags and niggers bc they think its whats cool

im by no means a vet but try to stay level headed, you have to be, but also be willing to take risks, they wont all pay off

i think it depends on how much money you have in so far. VEN/ETH/NEO/ICX/OMG are great choices, but i do think market cap is important. if crypto can overall reach the trillion mark, then there is plenty of room for growth. we might have reached a point where we need to see actual implementation (working products) to realize value. also, confidence is key, partnerships are important but it doesn't mean it will increase the value instantly. who is invested in, who are they working with, what does the team look like, etc.

i think (hopeful) XLM/ADA will turn out well - but they might need a year to increase only 2x-3x, most are not okay with waiting that long for minimal gains.

WTC is a good bet, ENG/RLC/AMB/PRL all seem to be headed in the right direction. it seems unwise to speculate until BTC figures out what it wants to do, head to 8k and rebound, dip further, reverse after chinese new years, who knows. everyone is hesitant to put new money in. will robinhood help? will bittrex accept USD pairings?

I had a sell order for 8980 sats. Fucking shoot me

Hey, really appreciate your insiightful post
do you happen to have discord or telegram.

You seem very knowledgable. I was thinking the same thing - perhaps we could share few tips together.

My discord: gambaa#5041 and telegram: t.me / gaambaa (remove space
thanks user

This is great-- thank you so much user!

fucking newfags

It's also the old TA paradox - it doesn't really have to work, it's just that enough people have to believe it works, and it will. If everybody thinks a certain flag is "bullish", they will buy and the stock will rise, and if they believe a certain pattern is predicting a downtrend, they will sell, and the stock will indeed drop.
Same goes for all the stuff like "buy the rumor, sell the news" - the more people adhere to it, the less people will actually wait until after the news or just hold through.
It's all just make-believe and self-fulfilling prophecies.

Still here...

I don’t... and I’ve only been on biz for a few months and it used to have SOME useful info, now it’s just ppl shitting on each other. There’s nothing really of value anymore.

All of this should be basic and obvious - which it isn’t and that’s a problem. The level of desperation on here has risen to ATH with the fall of BTC. All coins are half their value... just check.

Other than the laughs, the thing I like about biz is that news often seems to get here before it gets to reddit & bitcointalk. I tune out all the fake noise, which is 85% of the site (if newfags didn't realize that before, the shillstorm about bazinga should be an appropriately obvious red flag)

Just commenting again to keep this thread going, since it's the only good thread on biz right now...
I read the other day that Wall St is long on crypto. Formerly their short positions outnumbered their long positions, but this time around long positions outnumber short positions 2:1.
That gave me confidence to buy some more NEO and OMG during the dip. I figure Wall St is a better predictor of the market than biz (which was bleeding suicide memes all day)