Bitcoin / Cryptocurrency Discussion (And Predictions)

[KLaw]

Take it easy fellas lol.

Maybe this is why my phone autocorrects btc to bro haha.

It's all good.

 

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[Guest3722A]

I got no problem telling you that to your face. Medina. Brother. Pm me if u wanna meet. I'm 5 seconds off of 71. Brother.

Which is it - Mansfield or Medina? You edited. And why are you talking like hulk hogan? If it's Medina, your demographics are pretty ugly. You guys don't make too much out there and you are way overcrowded! I can see why you have an attitude. Population over 700% to Ohio. You should take MJ's advice and bail to happier lands. Where I'm going is a much more relaxed part of OH.

 

[farmer79]

One thing to be aware in these extremely volatile markets is you absolutely must trade with a plan. Make sure the written plan accounts for all conceivable contingencies and then trade your plan. At the end of the day review that you followed your written plan. You simply cannot make good decisions in the heat of the moment with the kind of moves we have been having especially today.

One of the reasons for this is when you have a market going against you sharply you will naturally seek relief. Unless you are a perfect robot trader the only way to obtain mental relief is to take the position off. I am willing to bet that the guy who sold today at 11500 was feeling sick as Bitcoin dropped and was filled with relief the moment his fill confirmation was received and he was just glad to be out. Unfortunately for him that was probably an emotion filled panic out with no sound trading basis whatsoever that cost him a lot of money .

Head Doctors for traders will talk about the danger in feeding this deadly habit, as it becomes a crutch for good analysis. And then making matters worse, traders living in denial will repackage this mess as “I showed good discipline by not letting my losses get to large.”

Have a good solid written trading plan and stick to it.

 

[James Fake]

@James Fend Your strategy should have worked out beautifully today if it is anything like mine. Unfortunately I missed the opportunity today for the super cheap door buster sales on BTC and LTC. The ride may not be over yet, jury is still out.

Haha.. that is pretty cool that you could tell what move I made during the chaos.. Got in immediately at $.68 & rode to $1.09 the next day. (with 100% of my portfolio )

My only problem was I took a nap during the top $1.20 where I should have gotten out; got too greedy to see how much gas was left in that crazy run. Coming off the previous week's Iota run.

p.s. - There's another Iota one coming soon.. 3 or 4 days whenever RSI 30 is broken. I plan on grabbing a huge chunk at $3.40 give or take.

 

[James Fake]

Have a good solid written trading plan and stick to it.

This x 100. My plan has daily quotas, month plan, quarter plans, yearly plans, and exit plans.

I naturally found myself following a "plan" in my head. It wasn't until I took a day to get it all organized & broken down into time ranges where it has tremendously helped with trading. I created it from end to beginning; meaning I took my "number" and when I want this by; and then worked backwards from it.

It has helped me in every single way, most importantly in making confident decisions, not over-reaching, stress, and feeling completely comfortable ignoring coins next to me going on 50% pumps. Once certain goals are met for the day, week, or swing; I'm done. Most times; if I'm not playing a swing; I'm out of position back in fiat.

'You control the coins, don't let the coins control you' is my quote. I've read too many horror stories of day traders going mentally nuts.. I'd like to age slow lol

 

[Lex DeVille]

 

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[scott wisniewsk]

HA HA LMAO I've actually talked to people like this . I'm no expert but this sounds like dot com talk back in 90s.

 

[LifeTransformer]

This guy does the best job explaining Bitcoin IMO:

If you don't get it after watching that? You really shouldn't be buying it.

 

[Greg R]

 

[Dan_Fastlane]

checking on alts like

 

[Tom.V]

checking on alts like

The alt explosion is just beginning. So much money is flowing into them from across the globe. 1000%+ gains in a week. Makes BTC look like a chump.

 

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[James Fake]

I have pulled out from BTC and LTC and back in fiat. Bitcoin running out of steam from the climb out of the correction & likely it has a pullback back to $14,000.. maybe $13,600 absolute low.

At this point; I am either moving into Iota or back into BTC. I expect this bottom to happen around this evening 6-8pm Pacific, where I either plan on jumping into Iota or back into BTC. I am thinking Iota has more upside & will have a much bigger gain over that next 24 hours (30%+) versus BTC.

Happy Trading guys!

@Ungodly - Iota tested $4 line much faster than I thought, so my last message about 3 days is more likely in like this evening lol

 

[Guest3722A]

Actually, it doesn't make sense.

Also doesn't make sense how you keep you the term "closing" price -- crytpo markets don't close, so I don't know what a closing price is in this market.

Now I see where the confusion is. In technical analysis, every period gets drawn with a new type of marker. And then the period's activity gets illustrated within each of these markers. The marker could be a line, a bar, and something that's called a candlestick and there's a few others. Now these markers can get broken down into larger and smaller time segments or other quantifiable segments. They can be broken down to single minutes or other small scales and greater like days, weeks, months, years etc. .
In the internet based charting I used with btc, the daily marker ended (closed) at 6:59 est and the new marker began (opened) at 7pm. These markers when combined together tell a story. My call from 2 days ago was based on this. Fundamentalists and technicians most times seems to disagree on each other's way, but there's designations for both.

As for your prediction, you called 14,000 as a potential bottom, but hedged by saying that if 14,000 was hit, 12,000 could be the bottom and then the real bottom was 11,500. Basically, no matter where the bottom was (assuming it was anywhere between 11,000 and 15,000), you could claim that your prediction was accurate. That's a 30% margin...I can often predict stuff within 30% as well, and I have no TA skills whatsoever.

Actually I said to watch for 14,000 and the relation to it (based on the daily marker as that's usually how these are discussed). And I use "ish" "14,000ish" because to hit an exact on the dot isn't ever going to be a constant thing. I then followed up with 12,000ish and 11,5 was hit. I was looking at this as a 'thereafter' but the volatility is huge in btc and it didn't want to wait a day! It happens all the time and I don't watch this thing religiously.

Regardless, I was just trying to help out by sharing how I read it. Nothing more nothing less. It's Christmas time and I thought I was doing a good deed here. But emotions do run high when value and volatility meet. So my apologies go out to anyone I offended.

FWIW, it is still in an uptrend. And I'd be more than happy to say when I see a confirmation in trend change, if anyone's interested that is. Otherwise, there's too much emotion running in this for me and I've got other things on my plate. I'm stepping out of this thread guys. Again, was just trying to help. And my calls were based on very specific things that are universal amongst anything that can be gauged with markers.

Happy Holidays folks!

 

[Coalission]

My 100k "F*ck you pot" grew into a serious pot in a few months...thank you altcoins

 

[loop101]

Now I see where the confusion is. In technical analysis, every period gets drawn with a new type of marker. And then the period's activity gets illustrated within each of these markers. The marker could be a line, a bar, and something that's called a candlestick and there's a few others. Now these markers can get broken down into larger and smaller time segments or other quantifiable segments. They can be broken down to single minutes or other small scales and greater like days, weeks, months, years etc. .
In the internet based charting I used with btc, the daily marker ended (closed) at 6:59 est and the new marker began (opened) at 7pm. These markers when combined together tell a story. My call from 2 days ago was based on this. Fundamentalists and technicians most times seems to disagree on each other's way, but there's designations for both.


Actually I said to watch for 14,000 and the relation to it (based on the daily marker as that's usually how these are discussed). And I use "ish" "14,000ish" because to hit an exact on the dot isn't ever going to be a constant thing. I then followed up with 12,000ish and 11,5 was hit. I was looking at this as a 'thereafter' but the volatility is huge in btc and it didn't want to wait a day! It happens all the time and I don't watch this thing religiously.

Regardless, I was just trying to help out by sharing how I read it. Nothing more nothing less. It's Christmas time and I thought I was doing a good deed here. But emotions do run high when value and volatility meet. So my apologies go out to anyone I offended.

FWIW, it is still in an uptrend. And I'd be more than happy to say when I see a confirmation in trend change, if anyone's interested that is. Otherwise, there's too much emotion running in this for me and I've got other things on my plate. I'm stepping out of this thread guys. Again, was just trying to help. And my calls were based on very specific things that are universal amongst anything that can be gauged with markers.

Happy Holidays folks!

If you have an edge, you can join a "social trading" site and charge people money to listen to your calls. These sites will also make your trading record available to potential followers. Instead of arguing about your success, you could just go profit from it.

Top Social Trading Networks | SocialTradingGuru.com

Yet to actually be in The Fastlane, you would create one of those websites.

 

[justonemore]

The way I view all cryptocurrencies is just a big bet.
B E T.
I have a few thousand dollars in it. If it goes to zero, it's money I can laugh off and not cry off. I will absolutely ride it to $0, I don't care.
That said, if BTC goes to $4mil in a few years, I'll cry for not having more.

 

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[Five Star]

My 100k "F*ck you pot" grew into a serious pot in a few months...thank you altcoins

Awesome. Congrats on your ROI

What are your lessons learned from this success? How much time did you put in on a daily basis to stay ahead of the markets and make your predictions?

 

[Xeon]

 

[SwissTuxedo]

My 100k "F*ck you pot" grew into a serious pot in a few months...thank you altcoins

This is awesome.

I remember you posted a while back that you made roughly $300k profit on a $100k alt coin trade.

Is this the same trade ?

Also what alt coin did you invest in ?

Thanks.

 

[Zimbizee]

Man, i really wish i understood this crypto thing

 

[Xeon]

Man, i really wish i understood this crypto thing

I've been reading up on the blockchain thing but I still have no idea how it really works.
I think one needs some sort of computer science degree to really understand its inner workings, and for this reason, I'm out.

 

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[Zimbizee]

Yeah i know what you mean, i think it's dumb money now in BTC but i would love to learn more about the alt coins in the new year.

The one thing that perturbs me is the buying and selling of crypto in general, the exchanges, approval times, limits on deposits etc. Also being in the UK the banks are highly suspicious of crypto and there have been some issues i have read about in getting money back out in to cold hard cash. There are ways around it but it just seems so complicated.

 

[NewManRising]

For those holding multiple altcoins which wallet(s) are you using? I am having trouble finding web or software wallets that will take some of my coins.

 

[mThree2K]

For those holding multiple altcoins which wallet(s) are you using? I am having trouble finding web or software wallets that will take some of my coins.

Myetherwallet supports several alt coins, for those coins that are not supported by MEW I just go to the official website and search for recommendations.

Enviado desde mi Mi Note 2 mediante Tapatalk

Edit: What do you guys use to track the asset values once you set up your cold Wallets?

 

[mThree2K]

Big dip happening right now again.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

[Five Star]

Only speaking for myself (and most certainly not referring to Coalission in this post -- I think he clearly knows this industry well), I see two types of "investing" in crypto these days...

1. Investing in strong companies, with good products/roadmaps, well-pedigreed owners/engineers/investors that have a good chance of doing well once the industry matures. These are coins that likely won't have meteoric rises (though they might), and are the closest you'll get to "value" investments in this space. Finding and completing due diligence on these companies takes a lot of time and effort, but should hopefully pay off long-term.

2. Investing in "hot" coins purely on speculation. You can make a ton of money doing this as long as the market is going crazy (like it has been), but that won't always be the case. I've made 35x my money on a coin in a week and 9x my money on a coin literally overnight. That's gambling, and while I can pretend I'm a genius crypto investor all I want for making those investments, the truth is, I pretty much got lucky.

With #1, you can put a LOT of time into research, talking to other investors, etc. With #2, you can certainly do some research, but it's more just being in the right place at the right time.

What I've noticed is that 99% (made up number) of crypto "investors" are simply in the #2 category -- yet they believe they are in the #1 category.

As someone said to me recently, "Everyone is a genius in a bull market..."

Thanks for the insight

 

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[Coalission]

Awesome. Congrats on your ROI

What are your lessons learned from this success? How much time did you put in on a daily basis to stay ahead of the markets and make your predictions?

Thanks, I think the most important lessons to learn during a market like this are about yourself, not about what coin to buy or when to buy. Like @JScott said, it doesn't take a genius to pick winners in this market, and my 10x in a few months is not really that impressive when you look at what the market as a whole has done during that time.

One important thing I've learned is you have to know what you're buying, and why you're buying it. If you're only buying because it's going up fast, fine, you may make some money that way, but it may also turn on you in the blink of an eye and you'll lose money when you sell, or even pat yourself on the back for an 8% profit, only for you to check on it a few weeks or months later and realized you would've 50x-ed your money if you had just held it. But you didn't. And why would you? You had no clue why you bought in the first place, so you didn't know what the near-term and long-term catalysts were for the coin to move in the long run.

I obsessively research every coin I buy, so I can only own 3 or 4 at most at a time. I want to be on top of every little thing that happens with them, and why it's happening. Others take a more "fund-like" approach, and buy like 50 coins, but I'm just one guy. I've tried that approach before, and what ends up happening is I end up selling most of them and keeping the few that I really like, so it just makes more sense for me to limit the amount of coins I buy to begin with but with more conviction. That way, I can buy during the inevitable dips vs. not knowing what's going on and just panic selling. Every extra investment takes up "mental space" I just don't want, even if I try not to think of them it's just there.

This is awesome.

I remember you posted a while back that you made roughly $300k profit on a $100k alt coin trade.

Is this the same trade ?

Also what alt coin did you invest in ?

Thanks.

No I'm no longer in that one, it was MANA.

 

[MJ DeMarco]

"Everyone is a genius in a bull market..."

Yup, my guess is there will be a "purge" somewhere down the road.

In the dot-com boom, everyone was a day trader and making millions. This strikes me as the same because you don't need much skill to make money. Everyone is making money by just being "in the market" much like back in 1999.

Then the purge came.

Some of those guys are still trading, but 99% of them aren't.

That's a purge.

And if you're still making money AFTER the purge, you're something special.

 

[NewManRising]

So many noobs are getting sucked into the pump and dump schemes. I watch videos on youtube and you got guys hyping up cheap coins and their viewers dump all their money into it. I've seen comments by people pissed because they lost all their money. One guy was accusing one uploader as being part of a pump and dump group. Basically, they are getting in early on a cheap coin that is like 1 cent or less and ranked off the top 100. And they hype it so noobs pump it up with money. It's amazing how people do no research and just listen to random people off the internet. These people don't know the game. Some people are willing to drop all their money into it and are asking questions like how/where do I sent my money?

 

[NewManRising]

My rule of thumb is that, if anyone who I don't believe is an expert is talking about a coin, I stay away from it. Literally every major investment in crypto that I've made has been *before* anyone was talking about it... I've made most of my money on coins that other people still don't know exist...

Agreed. And if it is being talked about on youtube, or even reddit, it's already too late. People are playing the pump and dump game. I am seeing tons of crappy 1 cent coins being hyped and there is nothing special about the coin or their team/project.