Crypto trading

[DEEZEDBRAH]

I use very tight stops, so my losses are never more than roughly $100, and I tend to move my stops quickly into profit when the trade starts going well.

I also never chase trades...either it hits my limit buys or it doesn't, but I won't change them...that's where people get into trouble. Trying to chase candles instead of waiting for them to come back to you.

That's solid. I can't say the same. I don't trade. Technical I don't see gains or losses until I sell.

Having a strategy. Stick to the script.well played. Did you have a year end exit strategy?

 

[BackInTheGame78]

That's solid. I can't say the same. I don't trade. Technical I don't see gains or losses until I sell.

Having a strategy. Stick to the script.well played. Did you have a year end exit strategy?

Nothing wrong with buying into something early and holding either...I do some of that as well. Usually tho I try and accumulate by selling and then rebuying lower with the same money with those so my break even points get lower plus if it goes up I see a lot more profit.

Did not have an exit strategy this year because the market cycle looks like it is extending. I freed up some capital and bought the dips when they made sense then sold and rebought over the last couple weeks...looks like it might be ranging for a while now.

 

[jaygreenb]

Hilarious how bitcoin maxis were claiming bitcoin would be a safe haven against this

I don't think anyone claims bitcoin wouldn't take a hit in a major liquidity event, everything does. I and many others just think it would be one of the first assets to recover, similar to March 2020. Markets are all somewhat interconnected and at this point are all are entirely dependent on what the FED does. Would love to hear some arguments with any actual depth instead of the surface level amateur hour statements.

 

[jaygreenb]

Why don't you?

At the very least, start a small biz or side hustle to 1. Make money 2. Busy yourself???

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

 

[jaygreenb]

I use very tight stops, so my losses are never more than roughly $100, and I tend to move my stops quickly into profit when the trade starts going well.

I also never chase trades...either it hits my limit buys or it doesn't, but I won't change them...that's where people get into trouble. Trying to chase candles instead of waiting for them to come back to you.

Good, sounds like you got some good risk controls in place.

 

[AAAgent]

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

Doing the lords work.


I started my own youtube channel for educating my friends and family. Even held training seminars for group education and individual tutoring. I probably helped onboard atleast a few hundred people directly.

I think its people like us that really helped to drive adoption. I did this because I really thought it would help peoples lives and also remove power from the corrupt elite. That was my main goal since 2016, to drive blockchain education, and free as many people through self empowerment via blockchain. Now that adoption is well on its way, i'm not really sure what to do. Too young to retire. My friends and I sold our blockchain company to Justin Sun. Life is good and most of the boxes are ticked off barring a few.

I would caution people against futures/leverage trading though. Lost a good chunk of change the past few years by doing this. HODLing has always worked out best for me.

 

[DEEZEDBRAH]

Nothing wrong with buying into something early and holding either...I do some of that as well. Usually tho I try and accumulate by selling and then rebuying lower with the same money with those so my break even points get lower plus if it goes up I see a lot more profit.

Did not have an exit strategy this year because the market cycle looks like it is extending. I freed up some capital and bought the dips when they made sense then sold and rebought over the last couple weeks...looks like it might be ranging for a while now.

Jan 1 2021, I had btc breaking 100k by yr end. After alon and shenanigans, I lost any afterthought of a possibility. I'm seeing it break 100k but no clue when. My regret was not acquiring more eth in the 1st quarter. I see a 3x coming for Sol.

There's mastermind groups I want to get into. Several of those I follow pay 10k subs. I can't figure out how to evaluate meta plays. The tokenomics is awful for even the biggest of players. Found mana and enj early but missed Sandbox and others. Again, I am only in a handful or two MAX. A few seemed to have it nailed.

I let it ride last year end without Taking significant profits. Still got dry powder on the side ready to go. One of my mates buys super small caps. Is making a small fortune. Into NFTs too. For the absolute life of me, I don't get it, and it screams RUG PULL to me. A lot of moron influencers back one and then things go tits up and they delete the tweet like a politician pretending nothing happened. My mate is crushing it. I still don't see the value. As in, somebody has to not bid whatever ridiculous amount you spent or you take a L for farting dog on a skateboard NTF.

 

[DEEZEDBRAH]

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

That's awesome man. Do you have a exit strategy following retirement? Plans? I don't blame you wanting to be prepared especially after the nonsense the past few years. I feel bad for those who were already retired or the fool that pulled out of the market in wave 1 lock down. Didn't end well. By summer things had recovered but anybody that panic sold got wrecked. Good luck to you. You are forward thinking enough to got in early. Far too many noobs say that it's early. You actually did. Well played.

 

[Reyaj]

Just setting up a daily, weekly or monthly automatic buy. Unless you want to watch the charts 24/7 and are confident in timing markets, it a great way to smooth out the volatility. If the price drops, you are picking up some at a lower price and lowering your average cost, if it goes up you have a position to participate in the upside. Most of the vets in the space would recommend this method for most people.

For Bitcoin, strike app is by far the cheapest way to auto buy. For everything else I use pretty much coinbase pro and kucoin, not positive you can set an auto buy on there though, maybe have to use regular coinbase for the auto where the fees are not the best. I do have an auto buy for bitcoin on strike that I just leave on, relatively small but overtime the compounded growth is powerful and would rather not sit in cash. I also have around 25% of my holdings sitting interest accounts that pay me in crypto, that comes out to a decent amount and am just leaving it in so in a way look that as Dollar cost averaging too. I've used a few platforms but am primarily using crypto.com where I get 6.5%.

The volatility in this industry, especially if new, can be hard to stomach. The best way to deal with that is educating yourself to develop conviction in your holdings. If you think there is a place for bitcoin and this industry in the future, everything is going much much higher. It will just take time. Once you have been in a few years your original cost is outside the volatility range the moves are easier to stomach. The best thing you could do is determine an amount weekly/monthly that you can afford to put in, set up an auto buy, and just leave it on and forget about it for a while. The important part is leaving it on when the market feels like it is going to zero, that is when the real multiples are made. Really educate yourself on this stuff though, it is important.

I've been pretty disciplined in buying some every 2 weeks or so, so basically I shouldn't care what the price is and just buy as it should increase overall in the future just like blue chip stocks so to speak right?

I've been buying them though my business, I guess worst case scenario I can write off the losses. I use venmo though so I can't really use the actual crypto for purchases its for investment purposes only.. I like it cause it makes it easy to buy/sell. You think I should use coinbase or strike instead? The service fees don't really bother me to be honest..

Truth is nobody knows wtf it is going to do because it's entire value model is derived from FOMO , until first world financial systems / governments agree bitcoin is a tangible asset you may as well be trading bottle caps


WEB3 is interesting , metaverse is interesting , NFT's are interesting, heck even decentralised ledgers are interesting

Bitcoin isn't , it was just first kid on the block and got a head start still so many people involved with it that don't have a fvcking clue what a blockchain is

When you understand the economics and real world applications of tokenisation you understand it's already too late for bitcoin to really be used for much other than " a store of value " which i am not really convinced about

I can sort of see ETH 2.0 working as a native layer within web 3 so it would make more sense to put your money there

The biggest question is will a gov or CB's be prepared to adopt ETH 2.0 in their own web3 applications or will they want their own token

I think i already know the answer unfortunately but time will tell

Interesting take.. isn't the appeal of these cryptos that they aren't government regulated though? I wonder how government regulation would affect them from an investment standpoint.. is it a good or bad thing?

Metaverse is nuts.. I've started reading about NFTs lately.. that's basically like copyrighting internet shvit right? Videos, stories, etc...?

 

[jaygreenb]

Doing the lords work.


I started my own youtube channel for educating my friends and family. Even held training seminars for group education and individual tutoring. I probably helped onboard atleast a few hundred people directly.

I think its people like us that really helped to drive adoption. I did this because I really thought it would help peoples lives and also remove power from the corrupt elite. That was my main goal since 2016, to drive blockchain education, and free as many people through self empowerment via blockchain. Now that adoption is well on its way, i'm not really sure what to do. Too young to retire. My friends and I sold our blockchain company to Justin Sun. Life is good and most of the boxes are ticked off barring a few.

I would caution people against futures/leverage trading though. Lost a good chunk of change the past few years by doing this. HODLing has always worked out best for me.

Good to hear from you, I remember following your journal and speaking on the old crypto threads in 2017. Congrats on the sale, that is an impressive accomplishment! Sounds like you have a lot of options on what direction you want to choose next, that's great, love to hear it.

I don't think I have onboarded as many people as you have but I am probably close to around 100ish. Not too sound corny, but really felt it was a moral imperative to help people understand and navigate this industry. With what is coming I truly believe this is a life raft for many, I really try to give time to help/educate anyone who is genuinely curious. A lot of times is it just planting the seed so it's on their radar then when they pay attention the price action it peaks their interest and they come back around. For my close family/friends/employees I will just give them some and have them download the app and watch it to get them started.

As anyone who has been involved in this industry there are a lot of traps and wrong directions to take. I made so many mistakes but it is all a part of the learning process as long as you don't get wiped out and stay in the game. I never messed with leverage but my biggest blunder was running 2 Walton guardian masternodes with around 30k worth of gpus haha Bought a lot of hype crap projects that didn't perform too.

 

[jaygreenb]

That's awesome man. Do you have a exit strategy following retirement? Plans? I don't blame you wanting to be prepared especially after the nonsense the past few years. I feel bad for those who were already retired or the fool that pulled out of the market in wave 1 lock down. Didn't end well. By summer things had recovered but anybody that panic sold got wrecked. Good luck to you. You are forward thinking enough to got in early. Far too many noobs say that it's early. You actually did. Well played.

I do not have any concrete plans but I am starting to explore some options on moving to another state with lower taxes and less restrictions, I am also starting to look at properties internationally outside of western countries as a plan b with another passport/citizenship. It is actually really sad what it happening to the middle and lower class right now, they are getting absolutely squeezed and unfortunately I think it will only get worse. My goal is to make my life less location dependent so I can relocate to wherever is going to treat me best, so along the lines of personal sovereignty. I will always have to be working on something but this time around probably do something I am more passionate about, not sure what that is yet. I believe this is going to be a very transformative and volatile decade, just want to be as antifragile as possible. I am big on personal freedoms and not sure that's where the west is headed.

 

[jaygreenb]

I've been pretty disciplined in buying some every 2 weeks or so, so basically I shouldn't care what the price is and just buy as it should increase overall in the future just like blue chip stocks so to speak right?

I've been buying them though my business, I guess worst case scenario I can write off the losses. I use venmo though so I can't really use the actual crypto for purchases its for investment purposes only.. I like it cause it makes it easy to buy/sell. You think I should use coinbase or strike instead? The service fees don't really bother me to be honest..

Yes, if you think this industry is the future, just accumulate. Worst case scenario is you are underwater for a bit but if this is where the world is headed it will go up much higher at some point. I wouldn't try to time the market, not many people are good at it and usually let their emotions dictate the exact opposite of what they should be doing. That's why I am a fan for the auto buy for most. I would just make sure you can take your coins off with venmo so you can self custody, I know you can't with paypal. Also, learn how to self custody, that is probably one the most important features of this. I just use strike because it is the cheapest in fees and like the CEO but use whatever you are comfortable with. Just know a few percent can add up to a big difference in value in the long run. Regular coinbase sucks for fees, Pro isn't at bad and I use it for alt coins. Strike is by far the cheapest for bitcoin but that is all they have.

 

[AAAgent]

Good to hear from you, I remember following your journal and speaking on the old crypto threads in 2017. Congrats on the sale, that is an impressive accomplishment! Sounds like you have a lot of options on what direction you want to choose next, that's great, love to hear it.

I don't think I have onboarded as many people as you have but I am probably close to around 100ish. Not too sound corny, but really felt it was a moral imperative to help people understand and navigate this industry. With what is coming I truly believe this is a life raft for many, I really try to give time to help/educate anyone who is genuinely curious. A lot of times is it just planting the seed so it's on their radar then when they pay attention the price action it peaks their interest and they come back around. For my close family/friends/employees I will just give them some and have them download the app and watch it to get them started.

As anyone who has been involved in this industry there are a lot of traps and wrong directions to take. I made so many mistakes but it is all a part of the learning process as long as you don't get wiped out and stay in the game. I never messed with leverage but my biggest blunder was running 2 Walton guardian masternodes with around 30k worth of gpus haha Bought a lot of hype crap projects that didn't perform too.

I sold my walton guardian masternode sometime in 2018 when it still had value. I saw that you had one as well.

holding onto too many ****coins from 2017 that evaporated. Not selling at peaks thinking every project/coin/token would change the world. Very few do. BTC/ETH tend to be safest bets.

I was also hacked. They didn't take any of my assets. Literally got into all my **** but because of 2FA couldn't touch anything. Managed to take all the leftover stuff i had on all my desktop wallets that i gave to my wife. she lost about 4eth due to not taking crypto seriously. It was a big lesson for her but glad she finally learnt.

I also bought about 7 GTX 1070's. No where to store them, ran them for about a year and now they are in my parents basement. I bought 2 LTC miners and sent them to GigaWatt, a tokenized mining farm you can rent space at. They went bankrupt and took my miners.

--

I used to berate all the noobies for buying random **** they have no idea about because I saw them as my children. Didn't want to see them falling for scams. One of them was an SS user that i brought into the space. Don't really have time to babysit people anymore and almost everyone i know has made a ton, so it's no harm no foul.

 

[jaygreenb]

I sold my walton guardian masternode sometime in 2018 when it still had value. I saw that you had one as well.

holding onto too many ****coins from 2017 that evaporated. Not selling at peaks thinking every project/coin/token would change the world. Very few do. BTC/ETH tend to be safest bets.

I was also hacked. They didn't take any of my assets. Literally got into all my **** but because of 2FA couldn't touch anything. Managed to take all the leftover stuff i had on all my desktop wallets that i gave to my wife. she lost about 4eth due to not taking crypto seriously. It was a big lesson for her but glad she finally learnt.

I also bought about 7 GTX 1070's. No where to store them, ran them for about a year and now they are in my parents basement. I bought 2 LTC miners and sent them to GigaWatt, a tokenized mining farm you can rent space at. They went bankrupt and took my miners.

--

I used to berate all the noobies for buying random **** they have no idea about because I saw them as my children. Didn't want to see them falling for scams. One of them was an SS user that i brought into the space. Don't really have time to babysit people anymore and almost everyone i know has made a ton, so it's no harm no foul.

Funny about the miners, had the same thing happen to me. Had some guy running them for me that I never met, he was for a lot of people then when the final puke happened end of 2018 he started selling them off to pay the bills. He eventually ran off but a bunch of us tracked him down and were able to collect the majority of the miners dollar value back. Took about 3yrs, just got final payment last summer.

I also got sim swapped a few years ago, they only got around 2k worth of BTC at the time but fortunately saw it in happening in real time and was able to lock up my accounts before he could get in. Was a real wake up call and forced me to really get my security on point.

I think for the most part people need to learn a lot lessons on their own, I used to feel similar to you as far as helping them make good decisions. Now I will just give my opinion and point out potential risks if asked or having a conversation about it. Its easy to fall for the hype of a lot of these projects especially when the price action supports your belief.

 

[Bingo-Player]

Interesting take.. isn't the appeal of these cryptos that they aren't government regulated though? I wonder how government regulation would affect them from an investment standpoint.. is it a good or bad thing?

Metaverse is nuts.. I've started reading about NFTs lately.. that's basically like copyrighting internet shvit right? Videos, stories, etc...?

The appeal is that you can exchange any value, asset or commodity P2P without an intermediary like a bank or broker

The fundamental problem is governments aren't going to want this happening because it makes it virtually impossible to tax or govern and markets are virtually free to do as they please

We already know the lengths governments are prepared to go to manipulate and control socio economic activities just look at the last 2 years

I think a lot of govs and banks were slow to understand what the capacity of blockchain actually was ... but now the seem to be paying attention

Crypto regulation is going to be especially horrific for bitcoin because it is entirely dependent on being unregulated it has virtually no use otherwise what is going to be worse is if they start taxing crypto gains it and all the swing trade money runs for the hills

Conclusion - the space desperately needs some form of regulation as there is rug pulls happening on projects on a daily basis and people are being taken to the cleaners, but when regulation or taxation does happen you want to make damn sure you are involved with the projects that are going to be on the right side of the system

 

[DEEZEDBRAH]

I do not have any concrete plans but I am starting to explore some options on moving to another state with lower taxes and less restrictions, I am also starting to look at properties internationally outside of western countries as a plan b with another passport/citizenship. It is actually really sad what it happening to the middle and lower class right now, they are getting absolutely squeezed and unfortunately I think it will only get worse. My goal is to make my life less location dependent so I can relocate to wherever is going to treat me best, so along the lines of personal sovereignty. I will always have to be working on something but this time around probably do something I am more passionate about, not sure what that is yet. I believe this is going to be a very transformative and volatile decade, just want to be as antifragile as possible. I am big on personal freedoms and not sure that's where the west is headed.

Been all about slinging D and Wilding out for years. Along the way, I met some cool buddies, and I learned about crypto. It was a lot of trial and error. Tbh I don't have a clue with Web 3 or meta verse. Somebody I follow in the crypto space argues 95% are fraudulent projects or nothing burger on route to zero. Others are hit and miss. 1% or less is where real value exists. I concur.

Similar to you, I have did a 100% paradigm shift in life. The pandemic rubbish of money printing, magical variants followed by more money printing, a collapse of democracy, and individual sovereignty as well as personal freedoms. I'm checked out.

Initially, I was looking at lower taxes but while I value that (because the alternative is indentured servitude ie SLAVERY), I place more value on individual sovereignty and freedom. The way forward is elsewhere. In the before times, I was content making moves, enjoy the decline, and pillage what I can. The past two years of breaking laws, stfu, wear your mask, and take your mystery serum root beer float is ****ery. The way forward is out. Better culture, women, and lifestyle exists. The alternative won't end well but as you said, domain independence is key. I have been been following Andrew Henderson. He says " go where treated best." It's funny he focuses on taxes BUT mentions women too. The fella is based.

This project is no small undertaking but I am ALL-IN. Crypto is part of the way forward. As much as I enjoy bachelor mode, i always valued my individual sovereignty and freedom. Something that erodes in other places or tying yourself to the state by playing house.

 

[jaygreenb]

Yeah, would agree with 95%ish, most of those projects are vaporware. At best they are a new speculative tech company to the worst they are a money/grab scam. They may very well pump if things get moving again but the scams usually disappear in a bear market.

That's what your 20's are about typically, I'm around 11yrs older than you and didn't really take my finances seriously until I was 30 and started my business. I made good money in finance prior and had to massively down scale my lifestyle while I was getting my business off the ground. It really started to shift how I looked and money and wealth accumulation. As I started to make more, I invested most of it instead of upgrading my life.

Andrew Henderson is actually where I got that phrase from, he has a lot of great stuff and useful information. I am considering places from Mexico all the way down to South America. At some point later this year I'll probably take a trip to check some of those places out. What's happening in El Salvador is really interesting and what they are trying to do, not sure if I could ever relocate there but it is on my radar and will check out.

Like you, I think these next few years are very important to stay focused, as they will dictate how comfortable and free you are in the future.

 

[DEEZEDBRAH]

Yeah, would agree with 95%ish, most of those projects are vaporware. At best they are a new speculative tech company to the worst they are a money/grab scam. They may very well pump if things get moving again but the scams usually disappear in a bear market.

That's what your 20's are about typically, I'm around 11yrs older than you and didn't really take my finances seriously until I was 30 and started my business. I made good money in finance prior and had to massively down scale my lifestyle while I was getting my business off the ground. It really started to shift how I looked and money and wealth accumulation. As I started to make more, I invested most of it instead of upgrading my life.

Andrew Henderson is actually where I got that phrase from, he has a lot of great stuff and useful information. I am considering places from Mexico all the way down to South America. At some point later this year I'll probably take a trip to check some of those places out. What's happening in El Salvador is really interesting and what they are trying to do, not sure if I could ever relocate there but it is on my radar and will check out.

Like you, I think these next few years are very important to stay focused, as they will dictate how comfortable and free you are in the future.

Same. Looking abroad. The approach taken by world governments based upon the beer bug rule out majority for purchasing property and residency. You listed some good places. I think a lots got to go into that decision.

How did it affect your dating when you downsized lifestyle to get your business going? Reinvesting is huge. Delayed gratification.

Curious if Sol is getting rugged? I'm only going in on legit projects I looked into and researched to the best of my ability. Going IN HARD. Always have dry powder on the side just incase the best opportunity presents itself. Eg a Asian exchange flash crashed btc to 6k. Some **** up on their end last year.

Lulz they wanted btc back. Ya OK bud. BRB

 

[jaygreenb]

Same. Looking abroad. The approach taken by world governments based upon the beer bug rule out majority for purchasing property and residency. You listed some good places. I think a lots got to go into that decision.

How did it affect your dating when you downsized lifestyle to get your business going? Reinvesting is huge. Delayed gratification.

Curious if Sol is getting rugged? I'm only going in on legit projects I looked into and researched to the best of my ability. Going IN HARD. Always have dry powder on the side just incase the best opportunity presents itself. Eg a Asian exchange flash crashed btc to 6k. Some **** up on their end last year.

Lulz they wanted btc back. Ya OK bud. BRB

I never really had any issues when it came to dating, although around that time I started going out less, some of that was just getting older the other was focus on my business/not spending money. First two years it was really just casual pump dumps that fell into my lap, then I got into a relationship that actually ended up bringing me to this site haha She was some kind of cluster B and really did a number on me, same story that seems to bring most guys here. Great Learning experience though. Overall, I think women can tell if you have your stuff together, I like nice stuff but never been super flashy, didn't seem to be an issue. I am also in a mid tier city, so not as much competition with higher level guys. Have had several 1 to 3yr dating relationships since then, with a lot of casual stuff in-between.

Looks like a lot of projects on SOL are getting hammered. Maybe it does well long term but it is highly centralized and decentralization is one of the most important aspects to me. It was backed by a lot of VC tech guys. It is hard to really trust any projects in this industry long term. A lot of hot projects fade away over time and price action in a bull market doesn't mean it is legit. Any coins besides btc and a portion of my eth, if they pump I pull out profits. If we get another alt season, I will probably sell off the majority of alt coins and convert to other asset classes.

 

[BackInTheGame78]

Made 25K today shorting ATOM and NEAR with 5x leverage. Honestly I like shorting more than I do longing and I am a lot better at it.