Cryptocurrency - a few tips from an old hand

[JonesBones]

OK - I'll bite.

Let's run with your scenario. Bitcoin is a shade under 10k at the moment. You buy. It drops to 9k, I presume you hold. It eventually creeps up to 11k, you make 1k.

Sounds good.

But by your own admission, you will need to watch the markets like a hawk to make that 1k. Worth the effort? You decide.

My proposal (using Bitcoin as an example) - would be to have bought Bitcoin at closer to 6-7k at the recent dip, and then just forget about it for 6 months before checking back in. Much easier said than done, but that is where belief in the fundamentals comes in. And that belief comes via research and personal risk appetite setting before hand. I'd be surprised if your profits were not significantly higher than 1k.

And if we spread this example out to altcoins, especially promising alts, purchased pre-'big' exchange as Hog-Train mentioned,...or at ICO, then your multiples, and profits are exponentially higher if you HODL. But for a nice medium-risk reward, scooping up top 100-200 projects at bargain prices is good too. The caveat here, is as always...that you have done your due diligence.

No I wouldnt need to watch the markets at all. Cuz bitcoin is in a predictable range right now. The resistance and support can be seen. Let's just play a game. fantasy game. I just bought 1 bitcoin for $9,800 dollars. let's see what happens tomorrow. oh fuck, it is the weekend though. still, by sometime next week it will kiss 11,000 dollars for even a second and that is when I sell. So assume I bought one bitcoin at current price and we will see if I can swing it and how long it takes. I bet it doesnt take long.

 

[Nik123]

No I wouldnt need to watch the markets at all. Cuz bitcoin is in a predictable range right now. The resistance and support can be seen. Let's just play a game. fantasy game. I just bought 1 bitcoin for $9,800 dollars. let's see what happens tomorrow. oh fuck, it is the weekend though. still, by sometime next week it will kiss 11,000 dollars for even a second and that is when I sell. So assume I bought one bitcoin at current price and we will see if I can swing it and how long it takes. I bet it doesnt take long.

Have you actually tried to swing trade in crypto over a given period of time? Very few can do it effectively, and those who do make shitloads of cash.

But if you think you can do it with some sense of 'predictability' in this space, then you are only fooling yourself.

You can do a single swing trade effectively, but that trap sucks you in quick...you think you can 'rinse and repeat'. It rarely ever plays out that way. There's a cliched saying - time in the market > timing the market. But it's pretty damn accurate from my experience.

If you think you can do it successfully, go for it - I'd be keen to find out how you did in a couple of months time.

 

[JonesBones]

Have you actually tried to swing trade in crypto over a given period of time? Very few can do it effectively, and those who do make shitloads of cash.

But if you think you can do it with some sense of 'predictability' in this space, then you are only fooling yourself.

You can do a single swing trade effectively, but that trap sucks you in quick...you think you can 'rinse and repeat'. It rarely ever plays out that way. There's a cliched saying - time in the market > timing the market. But it's pretty damn accurate from my experience.

If you think you can do it successfully, go for it - I'd be keen to find out how you did in a couple of months time.

That is why we will experiment. I bought bitcoin at 9,888 dollars. Let's write that down. We will have a fantasy league like Think or Swim. I just bought bitcoin at 9,888. I predict I can swing it for at least 10,500 in about 2 business days. It is probably the easiest swing I can think of. It just takes a lot of money and crypto exchanges are slow as shit. I don't have 10k free to swing trade bitcoin or else I would. Plus I don't trust the exchanges.

And I will swing it again after that. I predict that as well.

 

[13 others]

As a hold I dont see how Power Ledger couldnt be a good investment, especially in the long run but then again I don't know much.

 

[CerebralKnievel]

As a hold I dont see how Power Ledger couldnt be a good investment, especially in the long run but then again I don't know much.

I don't understand how they actually intend to integrate their bloxkchain tokens and concept into the electrical hardware grid of, say, even a statewide system to implement their vision, but it's interesting.

 

[Hog-train]

As a hold I dont see how Power Ledger couldnt be a good investment, especially in the long run but then again I don't know much.

Because there are competing products in the same space. Who knows which one will come out ahead? The ones that will lose out will be worth ZERO. Meaning you just lost EVERYTHING.

And also, no matter how good an idea is, it needs widespread adoption for the price to multiply.

 

[JonesBones]

Bitcoin is already at 10,140. I bought it at 9,888. That alone is a decent swing for doing zero work and pressing a few buttons. I made a few hundred dollars already since we started talking. Like an hour ago.

 

[JonesBones]

Bitcoin now at 10,450

My point is that Bitcoin is a buy below 10,000. Strong buy.

 

[rj144]

That is why we will experiment. I bought bitcoin at 9,888 dollars. Let's write that down. We will have a fantasy league like Think or Swim. I just bought bitcoin at 9,888. I predict I can swing it for at least 10,500 in about 2 business days. It is probably the easiest swing I can think of. It just takes a lot of money and crypto exchanges are slow as shit. I don't have 10k free to swing trade bitcoin or else I would. Plus I don't trust the exchanges.

And I will swing it again after that. I predict that as well.

Why are you talking business days? It's 24/7 as it's currency not stock.

 

[RagingBeringola]

By the time everybody in this thread have heard about these projects, the value increase has ALREADY BEEN PRICED IN.

You're hearing about in on Sherdog for goddsakes. It's equivalent to hearing stock tips on CNBC. TOO LATE.

It's like CNBC was telling everyone to buy Ripple at $3.70. Yea that's when all the mom and pop suckers bought in and the whales sold to all the suckers.

If you go on Crypto forums and such, people start buying on just rumors. When it finally hits the news (or people post on Sherdog,) they're already selling.

And all these youtube channels with titles like "Best Alt Coins for 2018 100X increase!!" are complete horseshit. They're shilling.

And a lot of them have no f-ing idea WTF they are talking about.

Over 90% of all Alt Coins will FAIL and will be worth zero. Most do not even have a working product.

You're totally right, and your points apply for market huters trying to get rich quickly. I believe several of the people here are guys like me, that are curious but have no high expectations. With the money i put in, I wouldn't be rich even if I managed to multiply the sum by 100.
No way I can expect to predict the market, so I've been reading here (sherdog) and there (rest of the internet thanks to nice links and references given by some members here) and can agree that some of the projects sound interesting. I really like Ethereum, others are more speculation, but let's face it... If at the end of the year i made 10% i would be happy while having learned quite a bit about the subject.

 

[Nik123]

Because there are competing products in the same space. Who knows which one will come out ahead? The ones that will lose out will be worth ZERO. Meaning you just lost EVERYTHING.

And also, no matter how good an idea is, it needs widespread adoption for the price to multiply.

While there will always be competitors, so far there is only one serious competitor to Power Ledger - that’s We Power. And they target a totally different market from POWR and have a different use case. Their team is also not as deep and broad, as they rely largely on contractors.

I have no doubt in my mind there will be several more competitors in the future - but what I do know is Power Ledger has a massive first mover advantage, a working product already being piloted successfully in Australia and Southeast Asia (and North American expansion just about to begin).

Then you have Jemma Green, the CEO of Power. She’s not only intelligent and well connected with the likes of Richard Branson, but she is also Mayor of Perth so she has political clout to help drive this project forward.

These are just some of the reasons why I’m bullish on POWR.

 

[JonesBones]

Ok, bitcoin hit 10,500 in the last 12 hours. SOLD. made 600 dollars in my sleep. Buying again at 9600 now.

 

[benebox]

While there will always be competitors, so far there is only one serious competitor to Power Ledger - that’s We Power. And they target a totally different market from POWR and have a different use case. Their team is also not as deep and broad, as they rely largely on contractors.

I have no doubt in my mind there will be several more competitors in the future - but what I do know is Power Ledger has a massive first mover advantage, a working product already being piloted successfully in Australia and Southeast Asia (and North American expansion just about to begin).

Then you have Jemma Green, the CEO of Power. She’s not only intelligent and well connected with the likes of Richard Branson, but she is also Mayor of Perth so she has political clout to help drive this project forward.

These are just some of the reasons why I’m bullish on POWR.

Another interesting energy crypto is MWAT which has a really low market cap at the moment.

 

[DrVanNostrand]

Ok, bitcoin hit 10,500 in the last 12 hours. SOLD. made 600 dollars in my sleep. Buying again at 9600 now.

Hopefully you reports that to tax office

 

[JonesBones]

Hopefully you reports that to tax office

This is all just virtual. I am not actually buying bitcoin. I just want to prove to this guy that bitcoin can be easily swung in current conditions. He thinks otherwise. I said I would be able to swing it for at least 10,500 when I bought it at 9800. Within a few days. Didn't take that long though. By the time I woke up, it had hit 10,500.

 

[MRDOG]

Anyone make anything on that UCASH craze that hit ? It reached 27 cents before droping to around *3 cents again and then peaking back up to 13 - 14 cents before another desend.

I had 11000 and missed the first pump. Sold at 12 cents during the second run. Price is currently 4.5 cents and dropping.

 

[CerebralKnievel]

Ok, bitcoin hit 10,500 in the last 12 hours. SOLD. made 600 dollars in my sleep. Buying again at 9600 now.

I made $800 in two weeks doing that with LTC back in October or November when it was still hovering around $50-80.

Nonetheless, had I simply held it and stopped playing games, I could have sold my 10 coins at 200-300 each.

 

[JonesBones]

I made $800 in two weeks doing that with LTC back in October or November when it was still hovering around $50-80.

Nonetheless, had I simply held it and stopped playing games, I could have sold my 10 coins at 200-300 each.

But this is more fun. Mick Jagger once said it is ok to let yourself go as long as you can get yourself back. I have swing traded stocks I still plan on keeping long term. I have sold stocks that I wish I hadn't, I made a mistake, so I got them back.

And yeah, statistically speaking, just letting an investment ride over a long period brings back better returns than switching them up and changing your portfolio all the time.

 

[CerebralKnievel]

But this is more fun. Mick Jagger once said it is ok to let yourself go as long as you can get yourself back. I have swing traded stocks I still plan on keeping long term. I have sold stocks that I wish I hadn't, I made a mistake, so I got them back.

And yeah, statistically speaking, just letting an investment ride over a long period brings back better returns than switching them up and changing your portfolio all the time.

Tell that to my Janus healthcare fund. Fuck you, healthcare fund!

 

[JonesBones]

Tell that to my Janus healthcare fund. Fuck you, healthcare fund!

I just like calling the shots. I spend most of my money safe stuff but need some YOLO in my life. It's like a sport or something. Football. These guys are adjusting their defense for this or that formation. Every move creates a counter move. Calling audibles. I am like a coach and my stocks are my players. My portfolio is my team.

I like how Kevin O Leary talks about putting money "in harm's way". That is what I do. I am putting my soldiers on the field to fight.