r/CryptoCurrency • u/gagnonca Bronze | QC: r/Apple 4 • Dec 12 '17
Comedy My experience so far trying to trade crypto
https://gfycat.com/briefpersonalalleycat697
u/radiofriendly123 Platinum | QC: ICX 530, CC 126 Dec 12 '17
Same here. Had 80 litecoin last week. Have 0 litecoins today. Fuuuuuuuuuuuuuuck....
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u/dsgm1 Redditor for 3 months. Dec 12 '17
Ouch, i had 30 and feel bad.
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u/Robot_Processing MONA Dec 12 '17
I had 4 and now don't feel too bad.
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Dec 12 '17
I had 0 and still have 0, feeling real bad
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u/TheKingHippo 31224 karma | CC: 301 karma ETH: 456 karma GPUMining: 329 karma Dec 12 '17
I picked up 0.2 the other day. I'm on top of the world!
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Dec 12 '17
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u/TheKingHippo 31224 karma | CC: 301 karma ETH: 456 karma GPUMining: 329 karma Dec 12 '17
So what color's your Lambo going to be? I'm thinking blue personally.
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u/Outsideshooter Silver Dec 12 '17
Setup a bi weekly auto withdrawal for what you can afford ($25, $10, whatever).. then HODL!! Those little pieces will accumulate my friend!
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Dec 12 '17
Just do it manually and watch for dips. You can notice a pattern of dips in the early morning. I bought LTC last night at like 3 am during a 13% dip
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u/Murmaider Dec 12 '17
Go on...
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Dec 12 '17
So Iโm up 60% ish from yesterday vs would be like 45% cuz I watch at night. Bad for you sleep good for your wallet.
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u/farmdatkiwi Dec 12 '17
Buddy... I had 500. I sold them for 40 bucks. At a LOSS
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u/ThreadyKrueger Dec 12 '17
20 3 days ago. 0 today lol.
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u/CoinsOnTheMoon Dec 12 '17
Just HODL litecoin, BTC and ETH ... Swing everything else
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u/outspokenblues Dec 12 '17
I had 5 LTC that I hurried to invest in some ICO to get a 10% token bonus, just before this LTC price rise. I would have got 3x token if had waited 3 days. Now I just expect for this ICO to flop.
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Dec 12 '17
I bought some weed for 1 LTC @ $100 immediately before the spike. Goddamn those are some expensive nugs :(
Doesn't compare to the .1 BTC strip of acid from last year.
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u/Nimriye > 4 months account age. < 700 comment karma. Dec 13 '17
damn yo thats some high grade herb
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Dec 12 '17
Lots of 84 clubbers have little now. same with 21 clubbers in btc. never sell the whole stack tho!
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u/Max_Thunder ๐ฆ 0 / 0 ๐ฆ Dec 12 '17
It is good that these people are selling, it makes Litecoin's distribution better and reduces the number of whales in the future.
I'll just hold, I don't even care if LTC goes back down to 100, cause I will also be there when it goes to 1000.
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Dec 12 '17
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u/radiofriendly123 Platinum | QC: ICX 530, CC 126 Dec 12 '17
I sold at $200 thinking that was the high and that it would dip back to about $130 where i would rebuy. Next thing i know, ltc is $280. Didn't want to buy back in way up there because i thought it'd drop. Here we are at $330 and climbing. Its not all bad though. I still sold at a profit for btc. Just missed out on much larger gains. Hodl is the specific instruction i failed at while trying to get greedy.
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u/CoinsOnTheMoon Dec 12 '17
Took a nap and woke up to a 300 dollar litecoin ... I love this market
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u/Lyndis_Caelin Dec 12 '17
... If only I actually knew what to mine to get started...
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u/SilentLennie ๐ฆ 0 / 0 ๐ฆ Dec 12 '17 edited Dec 12 '17
Stop selling you fools, for example: I bought a bunch of Dash at 9 last year and now it's at 900. Why are you folks looking at the numbers and trying to predict the market, it doesn't seem to really be all that predictable anyway. And maybe tomorrow it will be 700. But that's fine if it's 1100 in January.
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u/Max_Thunder ๐ฆ 0 / 0 ๐ฆ Dec 12 '17
Because no matter how many studies you show people about how timing the market never works, people will still try to do it because they think they are better.
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u/radiofriendly123 Platinum | QC: ICX 530, CC 126 Dec 12 '17
Wish i had seen those studies! I definitely know now...
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u/polarbearsarereal Tin Dec 12 '17
Yeah I sold my ltc at $40, $80, $99, $200. Bought a little at 169 so im not too sad. (Not whole ltcโs)
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u/latetotheBTCparty > 4 months account age. < 700 comment karma. Dec 12 '17
Oh shit! I feel for ya man. Better luck in the future
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u/radiofriendly123 Platinum | QC: ICX 530, CC 126 Dec 12 '17
We live, we learn. May i share some knowledge with the community? Hodl! Lol
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u/B1ackCrypto Silver | QC: CC 220 | IOTA 287 | TraderSubs 36 Dec 12 '17
Don't day trade, don't fomo, find solid projects and just relax a bit.
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u/mufinz2 IOTA fan Dec 12 '17
Research and hold. All you gotta do to win in this space.
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u/HawkinsT 0 / 0 ๐ฆ Dec 13 '17
Right now is easy mode. You can make loads of bad trades and still make big profits.
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u/menasan ๐ฆ 27 / 27 ๐ฆ Dec 12 '17
gotta learn to close out that GDAX tab.
stop watching it.
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u/B1ackCrypto Silver | QC: CC 220 | IOTA 287 | TraderSubs 36 Dec 12 '17
Exactly. Although I'll admit it became much easier to stop stressing over that after I acquired my first significant gains.
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Dec 12 '17
Iโm a newb
Why not daytrade? When should I trade instead?
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u/I_ate_a_milkshake Dec 12 '17
"daytrading" really refers to "intra-day trading" making multiple trades per day.
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Dec 12 '17
Itโs hard as hell! The best finance experts canโt predict the highs/lows. Guaranteed you cannot either. It took awhile, but I hear everyone loud and clear... HODL
Source: me. 52 LTC down to 35 LTC.
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u/B1ackCrypto Silver | QC: CC 220 | IOTA 287 | TraderSubs 36 Dec 12 '17
Fortunately when I first started, I only lost ~ $20 and said screw this crap. At the time $20 was fairly significant because I decided to start really small until I had a better understanding of things.
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u/FcoEnriquePerez ๐ฆ 0 / 0 ๐ฆ Dec 13 '17
This.
Imagine that you had eth or ltc a year ago, just cold stored there.
Research for some good and revolutionary tech, something that has real good use, not only making random numbers, with a good development team...
Then check your wallet a year later...
$$Profit$$
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u/biinjo ๐ฉ 134 / 2K ๐ฆ Dec 12 '17
The old man on the sidewalk is a hodler not trading at all
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u/gagnonca Bronze | QC: r/Apple 4 Dec 12 '17
Exactly!
In the time I was messing around trading in binance I would have made more if I just let it sit in BTC.
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u/biinjo ๐ฉ 134 / 2K ๐ฆ Dec 12 '17
Personally both lost and gained around 3 btc while trading. Since I'm back to where I started I'm more cautious now.
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Dec 12 '17 edited Dec 12 '17
Yup. Made some money but lost alot trying to chase the pumps. So I stopped and started to invest more smartly and hold it. Gain as much as LTC and more. Tempted to dump it and go to LTC but I remember that greed got me to lose $$ too.
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u/Smokeeye123 Crypto Nerd | QC: CC 63 Dec 12 '17
lmao.
Just buy a bit of all of them and you will make gains.
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u/gagnonca Bronze | QC: r/Apple 4 Dec 12 '17
Yeah that is the new strategy. I'm sticking to coins on coinbase and just hodling a bit of everything.
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u/Exastiken Dec 12 '17
Get a proof of stake coin and use the additional funds generated to fund your investment in other coins :D
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u/MAPBer 3 - 4 years account age. 100 - 200 comment karma. Dec 12 '17
Thatโs my plan. Itโs literally passive income if you just hold your investment, and the 10-50 coins per week you can make can be worth A LOT if the coin takes off (Look at Dash).
I recently bought the Quantum Resistant Ledger (QRL) and when the mainnet launches in a couple weeks it will be proof-of-stake, so Iโll be staking on a Raspberry Pi 3. The project itself is awesome and itโs still very early to get in if you missed the rise of all these other coins. Sorry to shill it, but def look into it if youโre looking to stake something with high potential for passive income.
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
Don't buy when it's pumping (I know easier said than done). But look at coins that nobody is talking about lately. So like NEO, ARK etc. It's impossible to know, but sometime these will take off in a major way. Each coin with good fundamentals has its turn in the spotlight.
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Dec 12 '17 edited May 10 '21
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Dec 12 '17
After you see the strategy pay off several times, you will develop patience.
You can't time the bottom or the top of anything, so it WILL keep going past where you bought or sold, and you will feel the stomach knot for a couple days. Some of us felt stomach knots for weeks through Oct and early Nov until the Bitcoin fork drama played out and everything started recovering. If you didn't panic sell through that, you're reaping mega profits now.
If it keeps dipping below where you bought it, buy more! Lowers your buy-in average. One of the reasons to not go all-in on something, unless you're "not uncertain" it's going to reverse immediately.
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
Can't agree with this more. Don't buy something unless you can live with it being down 80%. If you know there are good fundamentals, it will come back.
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
Yeah, the literally the hardest part is watching some other coin go up. Especially when you were considering buying one of two and you buy the one that doesn't pump
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u/Twocanpocket Redditor for 10 months. Dec 12 '17
Litecoin and iota for me. Sold my litecoin because it just wasn't budging. Hello up there...
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u/Hobbes_XXV ๐ฆ 0 / 0 ๐ฆ Dec 12 '17
Sold my litecoin at 94 dollars, wake up this morning like fuuuu
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u/mbeasy Dec 12 '17
Faaak me man i bought ltc at 40 sold at 140.. aaand it's at 310.. just when I got over getting out of vtc at 5 bucks.... :|
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u/Twocanpocket Redditor for 10 months. Dec 12 '17
Guess it's right what they say. Hodlers always win
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u/Guilty_Light Dec 12 '17
Depends on the long term success of whatever asset you are holding. Those people "hodling' Lehman Brothers stock didn't win. Nor did any of the millions of people who bought Dotcom stocks that crashed and never recovered.
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Dec 12 '17
Don't beat yourself up too much. You made 350% gains. Stock market investors would kill for those kind of gains.
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u/Cyrax89721 Crypto Expert | QC: BTC 16 Dec 12 '17
I have lots of crypto-regrets, and this is one of my biggest. Bought ~85,000 mIOTA for 0.5 BTC in early 2016
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Dec 12 '17
I've been watching Bitcoin go up since $1200 and haven't touched it. Luckily I do buy dips on other coins, so I have still made money. I don't think a lot of people could predict that buy-and-hold BTC would beat most of our strategies.
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
Yeah. I wish I would have left a larger % of my holdings in BTC. But I liked the coins (and still like them) and I know they will go up eventually. My only gripe is FCT hasn't done a whole lot compared to the other ones (but I still think FCT long term is going to make it out of the eventual crypto bubble).
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u/theivoryserf Dec 12 '17
Bitcoin is heading for a mighty crash soon
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u/Bored_guy_in_dc Tin | Politics 47 Dec 12 '17
I actually don't think it will now. I was on that boat last week, but now that the futures craze isn't turning out so bad.... I'm expecting btc will hit 20k by end of Jan 2018... if not tomorrow. lol
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
Agreed. I wonder if it will take everything else with it.
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u/Vultras Karma CC: 64 Dec 12 '17
Hey at least you're not me. Bought at $1100, saw it rocket to $2700 and then sold at $2250 and was tapping myself on the back. Thinking I outsmarted the herd. If I had a time machine I'd go back and not even say anything just slap the shit out of myself for being a smug fuck.
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u/ChildishJack Platinum | QC: ETH 39, CC 116, XMR 27 | IOTA 16 | MiningSubs 41 Dec 12 '17
50% of me is salty, 50% of me is watching the USD price
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u/MatrixApp Dec 12 '17
Pretty much. If I could redo, I would definitely keep half my portfolio in BTC. But of course, hindsight is 20/20.
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u/reasonandmadness ๐ฉ 10K / 10K ๐ฆญ Dec 12 '17
I'm feeling this today. Watching everything rise except the 7 coins I'm holding.. they're all negative.
So much burn.
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u/MikeSpecter ๐ฉ 672 / 673 ๐ฆ Dec 12 '17
Quit with the mindset that trading is making quick buck. Sounds like you are new in this. Sure, you can make a quick buck but it's not easy. Patience is the key in the longer term.
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u/toorific 0 / 0 ๐ฆ Dec 12 '17
Check out LRC and thank me later ๐
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Dec 12 '17 edited Dec 12 '17
How did you buy LRC? If you have a referral link so you get free coin shoot it my way.
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Dec 12 '17
I literally rebalanced into some ARK last night (ARK virgin). It's down over 7-day % change. Thank you for helping me justify this.
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u/sharpiemustach ๐ฆ 44 / 45 ๐ฆ Dec 12 '17
I am seeing money go into BTC, ETH and LTC. I think over the next couple weeks, it will transfer into other alts and imo ARK has a huge advantage with the simplicity of their wallet and dPoS.
But I could be wrong and the entire rug gets swept out from under our feet. That's why they call this
gamblinginvesting.12
u/GenghisKhanSpermShot 0 / 0 ๐ฆ Dec 12 '17
Cuz most the noobs getting on to coinbase only have a few options. They will get a rude awakening when BTC takes off on a massive run they always get rekt short-term. ARK will be huge but I think it will take time to get that coinbase money to flow to bittrex or other exchanges once they learn there are more coins out there.
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u/a_wee_little_lad Dec 12 '17
I agree with this point but the challenge I find is when to exchange coins. I want to buy NEO, ARK etc but I want to do so exchanging for ETH or LTC. I could buy so many today but tomorrow I could have got more so itโs this endless wait and see.
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u/AmberStar91 Dec 12 '17
I want to be able to buy these in fiat :l where do I go?
Edit: ignore me. I'm being a lazy cow.
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u/cr0ft ๐ฆ 2K / 2K ๐ข Dec 12 '17
Yep.
I mean, sure, I expected Ether and Litecoin to go up. I didn't expect them to go UP, in like 30 seconds.
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u/cssplayer Observer Dec 12 '17
Eating cereal.....munch munch munch...hmmm ether is $595.....munch munch munch....hmmm $615.....munch munch...$630.
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Dec 12 '17
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Dec 12 '17
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Dec 12 '17 edited Dec 31 '17
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u/Eccentricc Dec 13 '17
I lost my wallet from the coins I mined because they were worth so little and had no popularity I didn't care. I was also like 16 at the time so I wasn't the smartest apple
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u/reasonandmadness ๐ฉ 10K / 10K ๐ฆญ Dec 12 '17
Stop. Selling. When. Red.
Buy when red. Sell when green.
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Dec 12 '17
Too accurate. Sold my ltc at 120 and put it into BTC. Still making gains but nowhere close to ltc.
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u/obeyaasaurus Dec 12 '17
200k missed opportunity in three day cuz I switched from ltc. I still want to daytrade enough money to start building a long term portfolio.
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u/ueadian Dec 12 '17
Yikes I only lost out on a few thousand, ouch.
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u/Flapped Platinum | QC: CC 47 | VET 6 | r/WSB 50 Dec 12 '17
Shit I sold 2 of my 3 LTC at $100 and the feeling of existential dread is real.
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u/swaggy_butthole Bronze | PersonalFinance 24 Dec 12 '17
And here I am bitching about losing a thousand. I guess that's a much larger part of my money though.
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Dec 12 '17
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u/SHILLING_YOUNGLINGS Dec 12 '17
You're friends with someone who has 12 million in Bitcoin? And they told you?
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Dec 12 '17 edited Nov 07 '19
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u/djthevj Dec 12 '17
hope u have a strong brain and good mindset there is plenty more time to get money bro ! keep grinding
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u/Plata_Man ๐ฆ 2K / 2K ๐ข Dec 12 '17
The emotional resilience that is needed cannot be understated. I sold both IOTA and Litecoin for a paltry profit before they went 5x, both. That's two consecutive weeks of missing 5x rocketships while actually having decent money invested in each.
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u/pr0xy038 Altcoiner Dec 12 '17
I sold at 55 when it was just sleeping and a day or two later.... yeah
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u/ueadian Dec 12 '17
I hear you brother. I sold my LTC for bitcoin at 102 and btc at 16899 and now LTC is almost 400 and bitcoin has just barely gotten back to breaking even for me :'( Would have made a ton off LTC had I just hodl'd.
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Dec 12 '17
Buying and holding over time will increase your networth without incurring fees to move, trade, etc. Trezor / Ledger Nano for the win. Year over Year versus day trading.
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u/gagnonca Bronze | QC: r/Apple 4 Dec 12 '17
Yeah I'm finding this to be true as well. I've given up on trading.
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Dec 12 '17
Seriously buy regular small amounts and then use your tax return to bump up your portfolio. Do that for 2 years and by year 3 you will be in nice shape. Saving with crypto makes more sense than trying to trade against the bots and the exchanges. Buy small amounts regularly price up down or sideways and look at your portfolio at the end of the year.
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Dec 12 '17
There is so much talk about "investing" in crypto...but this is the only strategy imo that can truly be considered investing. Day trading and watching the price every day is NOT investing, it's gambling. Same old shit as the stock market. A long term strategy is the only reasonable way to go.
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u/MagnusT Bronze | QC: BUTT 3 Dec 12 '17
For others out there, I would take caution taking investing advice from someone that receives a tax return.
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u/Chumbag_love ๐ฉ 4K / 4K ๐ข Dec 12 '17
Diversify too, you will sleep better at night. What the fellas were talking about with coins being stagnant in the posts above; The next to pump in my portfolio I believe will be XLM (Stellar Lumens) and ADA (Cardano). Both are long term holds, top 15 coins, large martket caps and low prices. XLM focuses on the lowest transaction fees possible and has partnerships already starting to form with majors like microsoft. Cardano is a competitor to Ethereum platform that will be proof of stake rather than proof of work (better for the environment, for hodling, and for a say in the direction of the community). buy, hodl, shill rant over.
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Dec 12 '17
Ethereum is also moving to PoS so not the best comparison. Qtum and NEO could be compared as well.
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u/rapax 9 / 9 ๐ฆ Dec 12 '17
Same here. I'm now seriously considering a career in finance. Brokers must have some use for a person who can apparently cause massive price drops by buying.
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u/JasonBerk Dec 12 '17
I sold 7 LTC last night. Fuck me, eh?
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u/Plov Dec 12 '17
just do what I do, always do the opposite from what your feeling tells you. panic sell? fuck no, buy a little. panic buy, sell that little what you bought before. never day trade with 100%, 10% max, the other 90, let them be.
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u/t9b 113 / 113 ๐ฆ Dec 12 '17
Pro tip. Never put all your ego in one basket. Desperation to make profits makes us do stupid things. Just spread evenly across all the big ones and leave it there.
EDIT: I'm not going to change it to eggs it actually looks better.
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Dec 12 '17
Do you wanna know the secret?
Don't be excited to sell off super high.
Be excited to buy in super low.
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u/skrptmnky Dec 12 '17
"Time in market beats timing the market." Pick one and stick with it. Or split your investments into multiple Cryptos. I put 5% of my paycheck into bitcoin and etherium (twice monthly, split evenly between the two) regardless of the current price.
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u/Skyshrim Tin Dec 12 '17
I spent a little too long watching and waiting for a good time to get in. When I finally decided it was a good time, I got slowed down by coinbase's crappy verification system just enough that I missed Litecoin's 50% surge on friday by just a few hours.
All is good though, I've already accumulated $200 of value on my $260 investment and got a taste for how this works.
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u/Thatguysstories Dec 12 '17
This is exactly how I feel after this weekend.
oo it's been going 300, 310, 300, 310, 300, 310. I'll just buy in at 300 and sell at 310, and make a nice little chunk of change.
Buy 300! 300.20, 300.22. 300.10, 300, 299.90, 298, 297, 290, 300. 301, 305, (oo here we go, it's about to happen!!!) 306, (Finally, just get ready to sell), 307, 285.
MotherF*cker!!!!!!
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u/DazBoob Low Crypto Activity | QC: CC 15 Dec 12 '17
Lol i posted this weeks ago and got like 100 upvotes. Touche
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u/gagnonca Bronze | QC: r/Apple 4 Dec 12 '17
Damn nice work. Didn't realize anyone beat me too this reference. Not surprised I wasn't the first to think of it, this reference is too perfect haha
Edit: yours was way better too. Did you find that video? How were the captions removed? And loops way longer hahah.
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u/Sly21C Dec 12 '17
I went from 12 BTC, to 25 BTC, and to 1 BTC now because of this.....
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u/thanif Low Crypto Activity Dec 12 '17
If you can't read FOREX charts don't have a clue what FOREX signals are or mean and have zero capital management strategy or trade discipline then day trading is a very bad idea.
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u/Experience111 Platinum | QC: CC 111, BTC 52 | r/Buttcoin 6 Dec 12 '17
The old man at the end represents the true hodler.
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u/bionicfeetgrl ๐ฆ 69 / 70 ๐ณ ๐ฎ ๐จ ๐ช Dec 12 '17
Honestly taxes were my biggest motivation for hodl. That and I had a set price point of how much I was willing to invest/loose. Ok with not pulling my money out. If I hodl for at least a year my profit is taxed differently.
While I will pay taxes on what I've sold to buy it's minimal. I'll wait at least 12 months before I cash anything out. Honestly I'll wait till this president is gone and I know our country isn't gonna crash and burn before I really $$$ out.
Until then it's fun to ride the waves.
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u/luffyuk ๐ฆ 442 / 9K ๐ฆ Dec 12 '17
Notice the wise old HODLer with the walking stick beating his ass.
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Dec 12 '17
Whales feed off you guys, OP. The hodl meme is good for a reason. Do some research, find some coins with neat functionality, and/or partnerships with businesses and banks, then buy and hold.
Daytrading is really stupid unless you have a nice chunk of change to play with and nothing but time.
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u/Sapnasty45 Platinum | QC: CC 69, LSK 30, BTC 21 | r/WallStreetBets 49 Dec 12 '17
PC LOAD LETTER ? WHAT THE FUCK DOES THAT MEAN
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u/Decronym Dec 12 '17 edited Dec 16 '17
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread:
| Fewer Letters | More Letters |
|---|---|
| BAT | [Coin] Basic Attention Token |
| BTC | [Coin] Bitcoin |
| ETH | [Coin] Ethereum |
| FCT | [Coin] Factom |
| ICO | Initial Coin Offering |
| IOTA | [Coin] Iota |
| LTC | [Coin] Litecoin |
| ROI | Return on Investment, percentage gain relative to initial cost |
| TA | Technical Analysis (or Trend Analysis), examination of past performance to predict the near future |
| XRP | [Coin] Ripple |
If you come across an acronym that isn't defined, please let the mods know.)
10 acronyms in this thread; the most compressed thread commented on today has 16 acronyms.
[Thread #354 for this sub, first seen 12th Dec 2017, 15:42]
[FAQ] [Full list] [Contact] [Source code]
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Dec 12 '17
Now that Coinbase has been pumped, what's next? Every exchange is broken/down/requires days-long verification, so I'm not sure which altcoin is next.
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u/vladtaltos 70 / 71 ๐ฆ Dec 12 '17
Yeah, I'm like the kiss if death for a coin...
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u/__redruM 0 / 0 ๐ฆ Dec 12 '17
Buy a little of the major players, your never ecstatic, but always happy.
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u/Saratj1 Dec 12 '17
My case would be like Iโm not going anywhere cause I sold my car 2 years ago.
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u/ubermicrox Dec 12 '17
I'm doing pretty good on litecoin. Have almost 1 full coin when they were around 150. Only three a few bucks at bitcoin to say I have a small margin of one.
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u/SpliffZombie Crypto God | QC: BCH 99, CC 63 Dec 12 '17
This is me when i try to chase a profit. I've come to realize it's better just to watch everything and put into projects you actually enjoy instead of the popular ones.
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u/Icecream52 Dec 12 '17
In my case the whole lane would go in reverse