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Damn you crypto

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by levijean, May 15, 2019.

  1. levijean
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    levijean Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I doubled a small investment in crypto last year. I ended up pulling my cash out about 6 months ago after the market was dead. But now there are signs of life again I have FOMO...sonovabitch.
     
    ruzara5, KingK and astr0 like this.
  2. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    CENTS - C - E - N = TS
     
    ruzara5, deniz, JordanK and 4 others like this.
  3. jpmartin
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    jpmartin Jedi Master I've Read UNSCRIPTED

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    Here, this will help you. And if that doesn't this will.

    I speak from experience, and if that doesn't satisfy you - then I have the results! :D
     
    ruzara5 likes this.
  4. GPM
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    GPM Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    You are just gambling. And when the crypto market drops again are you going to be thanking your lucky stars that had you gotten out? Or will you buy at the top and then sell at the bottom and be saying the same thing over again?
     
    ruzara5, PureA, Xeon and 10 others like this.
  5. jpmartin
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    jpmartin Jedi Master I've Read UNSCRIPTED

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    Speculation is fine. If you know how to do it. Otherwise, yes... it is gambling.
     
  6. levijean
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    levijean Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Yes it is pure speculation and I know how to trade. When I pulled my money out I assumed it would be a very long time before they did anything interesting again. I still think the chances of them all going to $0 at some point is probably 50/50.
     
    Isaac Oh likes this.
  7. jpmartin
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    jpmartin Jedi Master I've Read UNSCRIPTED

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    We all know how to trade. But what's important? Being right or making profit?

    If you think it is going to zero, why not short it? You can do that using futures.
     
  8. Pedro Henrique
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    Pedro Henrique Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    In crypto you have to invest just the money you wont use for a time, I made 40% of profit these day after the bitcoin has gone up, but my money is in since last year
     
  9. James Fend
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    James Fend Gold Contributor FASTLANE INSIDER Speedway Pass

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    Good traders know a) You don't ever really "miss" a trade, there will always be another one right around the corner.. and b) Know to contradict their emotions (if feeling FOMO, then it's likely the price moves will only have temporary staying power).

    With that said; imo, you are not missing anything. This last surge is doing exactly what it's suppose to do (and is doing) is knocking out the last ounce of "greed" in the current pool of retail traders trying to "time the bottom and catch the early bull". Once the distribution happens, it won't be pretty, and it will be the final knock out punch for retail traders.

    This leaves only one type.. the investor; because they can buy & hold in a range which requires great discipline and patience. That is what a "bottom" looks like, and the bottom from a psychology standpoint hasn't happened.
     
    1step, GlobalWealth and astr0 like this.
  10. Fox
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    Fox Moderator Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Until you have massive cash flow you should only be investing in one thing - yourself.
     
  11. Maxboost
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    Maxboost Silver Contributor I've Read UNSCRIPTED Speedway Pass

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  12. Isaac Oh
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    Isaac Oh Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Guys I don't think @levijean is looking for advice or anything lol... just ranting
     
  13. Duck
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    Duck New Contributor Read Millionaire Fastlane

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    Trading and speculating on Bitcoin and other cryptocurrencies should be avoided at all cost. Getting to know the underlying technology in the field and making a financial decision based on that is another thing. But whatever you do, do it long-term and with things you understand.
     
    TonyStark likes this.
  14. B. Cole
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    B. Cole In thine hand is power and might. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Yay only 10,000,000% to get back where we were, but with a bunch of additional regulation and millions of burnt, extremely skeptical people that will likely (smartly) steer very clear of crypto trading.
     
    ZF Lee likes this.
  15. GlobalWealth
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    GlobalWealth Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I rather enjoy the extreme negative sentiment here.

    When you guys all turn positive let me know.

    I'll place my sell orders.

    Sent from my VTR-L29 using Tapatalk
     
    nordien1978, Roli, Kak and 4 others like this.
  16. Maxboost
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    Maxboost Silver Contributor I've Read UNSCRIPTED Speedway Pass

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    Bulldog mindset I linked above showed that this is still a very stupid idea as there are better things to do with your money and time. Crypto is a get rich quick scheme by crypto gurus.
     
  17. Seniorpreneur
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    Seniorpreneur New Contributor

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    Did you lose any money trading Bitcoin or any other crypto's? I traded only on the big upside in 2018? Then at the peak price of $20M US I left only $25 US in my Bitcoin account at the end of 2018. Today that small amount is worth $175 US. And I didn't lose any of the trades i made in 2018. I'm happy!
     
  18. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    :-D :-D My Exactly what I thought when I joined in 2015, it took 'em a while, they'll be back!

    How's Estonia going?
     
    GlobalWealth likes this.

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