Crypto trading

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BackInTheGame78

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Looking for a drop coming early in the week...weakest bounce ever took 7 days to go up 6K and get rejected at 39.5K then 38.5K.
 
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BackInTheGame78

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Fruitbat said:
I do get the feeling there are some absolute horror stories with this asset. Most don’t have a clue what they’re doing.

Very glad I didn’t buy in November, I’d have lost a lot of money.

one of my friends thought he had retired at 35, now I doubt he’s got enough for the next 5 year.

All while there’s a well established system of making money already in existence which makes 5-15% a year every year and always have, barring corrections.

Heart goes out to those who got sucked in by the never ending crypto sales pitch.

God knows what the true value of these assets are.

without the underlying growth, you’re trading futures and options. This is nothing new and these exist on every asset and have done so for hundreds of years. You’re much better off opening positions on stocks which have published accounts, visible balance sheets, RNS etc.

I sincerely doubt anyone is making money long term.
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My P&L for this month trading futures will close up over 20K. I track all my trades in a spreadsheet and use pivot tables to help analyze what I am doing. Win rate on trades is over 82% this month.

If you aren't making money with crypto futures you are probably a bad trader. Easy money. Look at the chart and trade reversal signals on timeframes of 1 HR or higher.

Also, I don't really care that you or whoever you may associate with can't make money trading. I can and I do pretty much everyday in both directions printing money like an ATM.

Not interested in the people telling me I can't do something I am already doing highly successfully.
 
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jaygreenb

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Fruitbat said:
I do get the feeling there are some absolute horror stories with this asset. Most don’t have a clue what they’re doing.

Very glad I didn’t buy in November, I’d have lost a lot of money.

one of my friends thought he had retired at 35, now I doubt he’s got enough for the next 5 year.

All while there’s a well established system of making money already in existence which makes 5-15% a year every year and always have, barring corrections.

Heart goes out to those who got sucked in by the never ending crypto sales pitch.

God knows what the true value of these assets are.

without the underlying growth, you’re trading futures and options. This is nothing new and these exist on every asset and have done so for hundreds of years. You’re much better off opening positions on stocks which have published accounts, visible balance sheets, RNS etc.

I sincerely doubt anyone is making money long term.
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This industry is the wild west, most projects aren't going to make it long term. However, this asset class is the fastest growing in history and few are going to completely reshape how the world operates. Since there is a high degree of volatility the best way for most people to buy is to dollar cost average. Go through the "where are the bitcoin lovers now thread", similar comments where made when bitcoin was 3k. How did that play out over the next few years? BTC and ETH are probably the best risk adjusted bets out right now. All that is needed is consistency, patience and the ability to stomach the volatility.

I personally know at least 15 people who have made anywhere from 500k-5M+.
 
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Fruitbat said:
what happened to 100k Bitcoin before the end of the year?

82% win rate - bull****.

why not post your trades here before you make them?

you’re making supposedly a higher win rate of trades that hedge funds do. Over 50% is enough to go pro. You should write to the guinness book of records.
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I don't make the rules. The overall economic picture took a major dump, which effects everything. And it wasn't just me calling for that. Literally everyone else was expecting it too with some going as high as 300-400K.

I can post my completed trades if you'd like so you can see them for yourself.

Again. I don't listen to people who tell me I can't do something when I am already doing it. Hedge funds are buying stocks for the long-term. Most of mine are scalp or swing trades. In and out within 30 minutes to a day. Maybe two at most if there is a strong run going.

Crypto is volatile which means it goes up and down often through out the day. How is this hard to understand that someone can buy a local top, wait for 30 minutes and then sell at local bottom? Or vice versa? The majority of my trades are $300-500 profit. Some are less, others more.
 
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jaygreenb

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Fruitbat said:
i own some. You have to diversify, I bought mine in 2018.

General consensus in AM is most businesses are saying “this will change the way everything works” but nobody is yet able to articulate why.

I don’t doubt there are a lot of applications but I was working in the markets in the dot com boom and 2 things usually are a part of these bubbles: 1. It takes FAR longer for the changes to actually affect the world around us (it took until the early 2010s for the dot com world to really manifest) and 2. Valuations go bananas when these great leaps occur.

nobody knows the right price for whichever token, it could be 100k it could be $5. Most investors just think “what’s the next big growth sector” but forget valuations.

Berkshire Hathaway has just outstripped most of the tech and growth trusts and MF.

by the way, I also feel the same about US tech and tech in general, it’s been over cooked and we are seeing the wheels come off currently.

Markets are a voting machine in the short run and a weighing machine in the long run. Crypto is still very much a voting machine,
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A lot of people are able to articulate why maybe you are looking in the wrong places or haven't put the work in. In short, every industry that tech networks touch they eat the legacy system because they are faster, cheaper and more efficient. The same thing happened with Netflix, Uber, Amazon, Google etc. Now it is happening to our money and financial system.

There will absolutely be periods of overvaluation and massive corrections. Just the nature of the beast. Like you said, same thing happened in tech and eventually the winners emerged and changed the world. Most of them will not make it but this is the process of an emerging tech. Have to see what works and how the market supports it.
 
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Fruitbat said:
yes, show us your trades.

You’ve said BTC at £100k before end of year.

now it’s switched to trading.

Put your money where your mouth is.

anyone can say they’re printing money.

Publish your trades otherwise it’s BS.

if it’s volatile, why weren’t you saying this when you were saying that stocks were BS and Bitcoin was going to break 100k by end of year?

people probably bought crypto off the back of that. How can you now start talking about shorting with a straight face?

you’d have made far more money in the FTSE100 than crypto this year

if it’s all about shorting, why didn’t you say that when you were saying BTC would be 100k? Surely that’s the first thing you would mention to someone buying in!

or was it the case that you didn’t have a clue and now it’s tanking you’re talking about shorting to save your face?

think of the money you’ve lost people, through ignorance and over confidenc

anyone can ramp an asset and then when it tanks claim you’ve shorted - in time.

I don’t think it’s BS, I’ve been in this game long enough to KNOW it’s BS.
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Have you lost your marbles man?

You keep harping on BTC at 100K by the end of year. The markets don't care what I or anyone else thinks tho. You either trade the market or it trades you. Not that hard.

How can I talk shorting? Because when the market is telling me to do that, I do it. And when it is telling me to go long then I do that. Sometimes both within the same day.

It's why I got into trading futures last month. Because it literally doesn't matter which way the marker is going, I have ways to make money in either direction. Are you one of these people who gets an idea and then refuses to adjust it when you are wrong? If so that explains why you think it's so hard to make money trading. I have no such bias, I trade what I see and I see it right most of the time. Adapt or die.

Lmao, me along with 90% of Crypto Twitter then.

First of all, if I was going to do that I would have started shorting it at 69K not under 40K. I had never traded futures before last month. But after watching so many people profiting from shorts I decided I should probably learn how to do it. So I started trading futures.

And I found out that I was really fvcking good at it. Mainly because my analysis of chart patterns is usually right a lot more often than not. Scalp trades are pretty easy to make money off regularly doing that.

Sorry if this seems like a mind blowing concept but I don't see how it is, it's pretty simple to do. See a reversal pattern, scalp the pattern and sell once you see another reversal. Also, look for tokens that have had double digit gains or loses and then look to either short or long those because they likely will be the opposite the following day. I mean this is common sense stuff, I don't know how people have such a hard time getting this. Shorted $RNDR today off of that concept. Guess what? It was a profitable trade.

If you've been in the game that long and don't know how to do that then you should probably pick another game because you just suck at it. You are like the dude that has played basketball all through elementary and high school but only got to play in the games once they were blowouts. Yeah you were on the team for 12 years but that being on the team and having skill and talent to play the game are two different things. And that's something you either have the aptitude for or you don't. You clearly do not apparently. Sorry to break it to you.

Will post my trades in a little bit. Ended the month slightly below 20K in profit. Yesterday and today have been tough days for trades. Not much movement in either direction, didn't take too many positions.
 
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Last page.

Happy now @Fruitbat?

In case you don't feel like adding all that up it totals to $19,696.87. Plus $98 today. First week I was still learning and figuring out proper entry points and had to loosen my stops. Was getting stopped out way too much. Once I loosened them up it was print money time.

I will double that this month. I'm sure you tell me I am full of sh!t when I do that also. Zero fvcks will be given by me.
 

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Head and shoulders pattern on the 2H timeframe, probably want to be short. Look to the immediate left and you'll see another one that played out to the downside.

Only reason this hasn't been sent packing already is because Asia is effectively closed all week with the Chinese New Year and hasn't been there to balance out NYC and London trading hours with their futile push up into strong resistance making lower highs on the 6 HR chart
 
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jaygreenb

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BackInTheGame78 said:
Last page.

Happy now @Fruitbat?

In case you don't feel like adding all that up it totals to $19,696.87. Plus $98 today. First week I was still learning and figuring out proper entry points and had to loosen my stops. Was getting stopped out way too much. Once I loosened them up it was print money time.

I will double that this month. I'm sure you tell me I am full of sh!t when I do that also. Zero fvcks will be given by me.
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lmao well done
 
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