Kev The Rat
Player Valuation: £70m
oh dear
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Crypto currency (IF banned from CA)
- Thread starter YoboCopter
- Start date
hktoffee
Birds of a feather flock together
These crypto crap ain’t investment these are gambling. A hoax.
Ouch
Surely it has dropped enough for some dip buyers to try to make a stand at some point , and bears to take orofits on some of their shorts, but it has sliced through several support levels already.
Surely it has dropped enough for some dip buyers to try to make a stand at some point , and bears to take orofits on some of their shorts, but it has sliced through several support levels already.
Kev The Rat
Player Valuation: £70m
This makes me think the stock market has a way to go downwards as well, once it reopens on Tuesday
YoboCopter
Player Valuation: £50m
It might be blind opitmism but i still think ill end up doing ok out of it
Im in no rush the moneys gone in my head anything i get out is a bonus
Im in no rush the moneys gone in my head anything i get out is a bonus
Commodities, which had been the final ”safe space”, got dinged the end of the week - bonds and stocks all been hit hard already so am guessing there are interconnected margin calls all over.
Weirdly he didn’t seem to be pointing out the “irrational top” at the time
and retweeting this
JimmyJeffers
Player Valuation: £70m
I wanna HEX you up!
Gabagool
Player Valuation: £950k
In a feeble attempt to defend the indefensible, the point at which I posted (47k), the local low did come in not too far from my prediction, and then a lower high was printed which signified the end of the cycle, albeit well before it reached 53k (clearly emotional and financial investment strongly colouring any objectivity).
When it comes to how low it could go, almost immediately following that post, the US Fed’s carefree attitude towards ‘transitory’ inflation shifted overnight; the exogenous event to which I referred happened shortly after (war in Ukraine -> unprecedented sanctions -> disruption to global economy -> crypto treated as risk-off asset -> subsequent implosion) ∴ all bets are off.
One thing I certainly wasn’t anticipating was the complete liquidation of supposed market makers (3AC formerly managing 18Bn of assets; Celsius) following Luna’s de-pegging - now the extent of the contagion can’t really be overstated.
tl;dr - chatting the purest of wham
Loving the last bit comrade. Me too, me too.
ffs
Hope that given the username this is just a windup
Hope that given the username this is just a windup
Zatara
Player Valuation: £100m
Institutions are shorting down and aiming for $13k-15k range.
You can see the levels in the charts. But its rigged anyway.
When someone says "retail" it means non-professional individual traders.
I said retail/individuals should only buy btc and hold long term. Only if they can afford to wait and/or lose
In that context your post makes no sense to me:
" putting stop loss orders on can be a very valuable trading tool and it is good mental discipline when you enter a trade to at the same time state “this is the level where I know this was a bad bet "
-- Stop loss is for short term trading. Retail are not professional traders, they shouldnt trade crypto in this market short term or they will likely lose.
-- Stop losses may not be activated in a fast moving market. What then? Hope you can out trade professionals in a fast moving market?
-- Mental discipline is nonsense. Short term trading in crypto when professionals use algos? The only mental discipline needed is to buy and hold and know the risk of losing.
-- How do you know what is or isnt a "bad bet" the whole market is rigged so as you close short term positions it could suddenly go the opposite way.
A lot of scammers claimed to be superstar traders and launched FX (and now crypto) trading courses with all the above...buzzwords.
Charge for the courses + take a % of losses on the introduced accounts at 'recommended' brokerages. The words youre using sound like theyre from one of those courses -- be careful as those "instructors/educators" are almost always failed traders.
Ive seen their actual trading accounts.
"But agree that a lot of selling is people who didn’t understand/can’t afford the risks - especially those who used leverage "
Not sure what the correlation of leverage is here? Thats for perpetuals trading which is where professionals mostly trade short term as theres no cumbersome coin movement + leverage means theres more profits to be made on the algos.
TLDR = If youre going to gamble / play at trading then only buy Spot btc and hold...be prepared to wait and lose.
If adventurous then chuck some money into other stuff and hold long term.
Dont try day trading with money you cant afford to lose...better off sticking it in a fruit machine and having a pint.
Its not really investing...its gambling if looking for "quick returns".
Every "investment" is a gamble though...even buying a house.
But short term retail crypto is proper gambling.
Dip buyers / bears / make a stand / support ?
This is now an institutional rigged market.
The institutions make money up or down long or short.
Just buy and hold and dont play their game.
Zatara
Player Valuation: £100m
This is probably a daft example but...
If youre one of 49 normal people in F1 cars and the 50th is Lewis Hamilton and youre all driving unlimited laps.
Your best move is to drive around the track very slowly...dont worry how many times youre lapped. Others will crash, tire themselves out, give up trying to beat the professional and basically lose.
Eventually you will outlast most of the other drivers and finish on the podium behind the professional.
You wont come 1st but coming 2nd or 3rd you still win.
If youre one of 49 normal people in F1 cars and the 50th is Lewis Hamilton and youre all driving unlimited laps.
Your best move is to drive around the track very slowly...dont worry how many times youre lapped. Others will crash, tire themselves out, give up trying to beat the professional and basically lose.
Eventually you will outlast most of the other drivers and finish on the podium behind the professional.
You wont come 1st but coming 2nd or 3rd you still win.
YoboCopter
Player Valuation: £50m
Bed