Crypto currency (IF banned from CA)

[Zatara]

I know what you meant by retail Zat, I just don’t think that all of them have been following your advice of ”Buy under $20k and leave it“. We can debate the wisdom or not of the approach but seems like plenty were doing short term trading and as such stops (imperfect tool as they are) is surely is a better approach that just holding on to purchases from much higher levels into the 20s when Bitcoin broke the ~30k support.

As for leverage I was using it in the same way you were in this post, we can agree that it is a recipe for disaster


As for
“This is now an institutional rigged market.

The institutions make money up or down long or short.”

The game may be rigged but suspect that along with retail traders there are going to be plenty of institutions that don’t make money in this period either.

"We can debate the wisdom or not of the approach but seems like plenty were doing short term trading and as such stops (imperfect tool as they are) is surely is a better approach that just holding on to purchases from much higher levels into the 20s when Bitcoin broke the ~30k support".

-- A professional would have probably several hundred orders all the way down. This is called position building while directional trading.

If you were just in/out then your algo would be opening/closing.

Youre talking about retail/individuals gambling.



"As for leverage I was using it in the same way you were in this post, we can agree that it is a recipe for disaster"



-- Yes in that post im referring to gamblers (retail/individual traders). For professional traders leverage is just a tool.


Im not sure why institutions wouldnt make money...corporate lenders and retail probably wont.

 

[LinekersLegs]

Im not sure why institutions wouldnt make money...corporate lenders and retail probably wont.

Because I have been trading (or as you might consider it gambling ) since the late 90s and therefore have seen plenty of institutions who haven’t in bear markets despite their advantages over individual traders and supposed expertise in the market involved.

 

[Gwladys St. Glory]

Zat...you're supposed to have learned by now when you're about to be eaten.

?️

 

[Zatara]

Because I have been trading (or as you might consider it gambling ) since the late 90s and therefore have seen plenty of institutions who haven’t in bear markets despite their advantages over individual traders and supposed expertise in the market involved.

Interesting.

Which crypto focused prop shops havent made money in the last decade?

 

[LinekersLegs]

Interesting.

Which crypto focused prop shops havent made money in the last decade?

I don’t know Zat as I don’t trade crypto, never have and probably never will.

 

[LinekersLegs]

Solana’s Lending Platform Solend Votes to Temporarily Control the Whale Account

Solana-based lending and borrowing service platform Solend users voted to control the largest whale account to mitigate liquidation risks.

watcher.guru

Solana-based lending and borrowing service platform Solend users votedto control the largest whale account to mitigate liquidation risks.

This is due to the fact that the whale account and its extremely large margin position were posing a threat to an on-chain liquidation. The large holding of the whale was reportedly causing the Solend protocol and the users to be in a risk bubble. The governance vote will grant Solend Labs with ’emergency powers’ to liquidate the vulnerable assets of the whale.

Around $20 million in SOL will be liquidated not through decentralized exchanges but through over-the-counter trades. This is due to the fact that on-chain liquidation can cause turbulence in the DeFi markets of Solana. To tackle this, the trades will be done through OTC.

The whale was reportedly a big one as it had 5.7 million SOL deposited and had also borrowed over $108 million in stablecoins. The whale holds over 95% of the main pool deposits and 88% of the USDC borrowings pool. SOL is currently trading at $33.50, and if the price hits $22.30, the whale becomes up to 20% liquidatable of its borrowings. This could create chaos in the market and cause bad debt to solend and affect the Solana network.

The team stated in the proposal that the decision was taken after trying and failing to get in contact with the whale through Twitter and on-chain messages. The whale was unresponsive, which made the team move forward with the decision. The governance passed with 97.5% of voters saying yes.

 

[Zatara]

Zat...you're supposed to have learned by now when you're about to be eaten.

?️

@LinekersLegs has been trading for 20+ years. They appear to be discretionary trading single non-leveraged positions with a stop loss.

They havent stated what products theyre trading other than not trading crypto. Thats the thread topic and what were discussing.

You could be right and in familiar territory they may well be a shark...that doesnt seem likely though from how they trade. They appear to be rather conservative as a guess.

I don’t know Zat as I don’t trade crypto, never have and probably never will.

I stated that retail day trading in crypto and using leverage in SpotFX was similar to gambling.

Youre disputing this but also saying you do neither...

Its one thing trading EUR/USD on a spread of 0-0.3 using a nicely layered double sided order book + paying up to $10 per million in brokerage fees. Take a look at those 'real' order books, instant execution, deep liquidity and 'fair' market conditions while using technical analysis.

In Crypto theres wash trading, artificial pricing, one sided order books, brokerage fees 20, 30 and 40 times larger than in the above example in FX.

In the EUR/USD example imagine I own 90% of the Euros and 90% of the USD orderbook on the other side. I can manipulate the price to whatever I want.

You try to trade against me and at anytime I can show you artificial pricing, then once youre in I remove one side of the order book, then you cannot escape.

That is the reality of crypto where markets are expensive, illiquid and artificial.

I dont blame you for not trading it...its not like traditional markets.

Solana’s Lending Platform Solend Votes to Temporarily Control the Whale Account

Solana-based lending and borrowing service platform Solend users voted to control the largest whale account to mitigate liquidation risks.

watcher.guru

Solana-based lending and borrowing service platform Solend users votedto control the largest whale account to mitigate liquidation risks.

This is a good thing.

 

[Death]

How is buttcoin coming along guys. Still on sale? When moon?

 

[The Gueye Science]

@LinekersLegs has been trading for 20+ years. They appear to be discretionary trading single non-leveraged positions with a stop loss.

They havent stated what products theyre trading other than not trading crypto. Thats the thread topic and what were discussing.

You could be right and in familiar territory they may well be a shark...that doesnt seem likely though from how they trade. They appear to be rather conservative as a guess.




I stated that retail day trading in crypto and using leverage in SpotFX was similar to gambling.

Youre disputing this but also saying you do neither...

Its one thing trading EUR/USD on a spread of 0-0.3 using a nicely layered double sided order book + paying up to $10 per million in brokerage fees. Take a look at those 'real' order books, instant execution, deep liquidity and 'fair' market conditions while using technical analysis.

In Crypto theres wash trading, artificial pricing, one sided order books, brokerage fees 20, 30 and 40 times larger than in the above example in FX.

In the EUR/USD example imagine I own 90% of the Euros and 90% of the USD orderbook on the other side. I can manipulate the price to whatever I want.

You try to trade against me and at anytime I can show you artificial pricing, then once youre in I remove one side of the order book, then you cannot escape.

That is the reality of crypto where markets are expensive, illiquid and artificial.

I dont blame you for not trading it...its not like traditional markets.



This is a good thing.

The best thing about working from home isn't avoiding the commute; it's no longer having to eat lunch next to people who talk like this.

Yeesh.

 

[Zatara]

The best thing about working from home isn't avoiding the commute; it's no longer having to eat lunch next to people who talk like this.

Yeesh.

lol

 

[DuuuncanHadaPigeon]

@LinekersLegs has been trading for 20+ years. They appear to be discretionary trading single non-leveraged positions with a stop loss.

They havent stated what products theyre trading other than not trading crypto. Thats the thread topic and what were discussing.

You could be right and in familiar territory they may well be a shark...that doesnt seem likely though from how they trade. They appear to be rather conservative as a guess.




I stated that retail day trading in crypto and using leverage in SpotFX was similar to gambling.

Youre disputing this but also saying you do neither...

Its one thing trading EUR/USD on a spread of 0-0.3 using a nicely layered double sided order book + paying up to $10 per million in brokerage fees. Take a look at those 'real' order books, instant execution, deep liquidity and 'fair' market conditions while using technical analysis.

In Crypto theres wash trading, artificial pricing, one sided order books, brokerage fees 20, 30 and 40 times larger than in the above example in FX.

In the EUR/USD example imagine I own 90% of the Euros and 90% of the USD orderbook on the other side. I can manipulate the price to whatever I want.

You try to trade against me and at anytime I can show you artificial pricing, then once youre in I remove one side of the order book, then you cannot escape.

That is the reality of crypto where markets are expensive, illiquid and artificial.

I dont blame you for not trading it...its not like traditional markets.



This is a good thing.

I disagree, admin key bullsh*t like this is the antithesis of crypto. Solana is centralized garbage and needs to die.

 

[chicoazul]

Crypto bros, it’s over. I take no glee in this but you turned out more The Cockroach of County Road more than any Wolf Of Wall St.

Take those skills you’ve learned they will serve you well as you flip me a burger.

 

[DuuuncanHadaPigeon]

Crypto bros, it’s over. I take no glee in this but you turned out more The Cockroach of County Road more than any Wolf Of Wall St.

Take those skills you’ve learned they will serve you well as you flip me a burger.

I can smell your glee through the screen. Do you want cheese on your patty sir?

 

[chicoazul]

I can smell your glee through the screen. Do you want cheese on your patty sir?

We should open up a Hexburger chain and offer them salvation.

 

[DuuuncanHadaPigeon]

We should open up a Hexburger chain and offer them salvation.

I like this idea sir, we could take down ronald mcdonald and his motley crew by frying hexagon shaped burgers. More meat per acre than the round burgers that the sheeple love.