Trading crypto is a different ball game - page 3.

maydna

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Quote from: Paycoinzzz on August 26, 2020, 12:48:40 AM

In fact, all financial markets are bubbles and there are always lots of money behind to manipulate it. all are not according to the laws of nature, only man makes the law. So in the world of finance, we should have a cool mind to adapt to every situation that happens. The plan is one of the most essential to avoid the huge pump or dump of the whales. That is my experience and understanding of financial markets. So how about you guys? I am willing to hear from you.

Even if the market has been manipulated, if we can get in the right time to buy and sell, I think we don't have to worry because we can make a profit behind them. We need to have more than one plan because we can follow the market with the other plan, especially if it turns the direction. I think we don't have to avoid the huge pump or dump because that will be the best time for us to make a big profit and buy the coin at a lower price.

But the crypto market will always be volatile, and the price will always change every second. There will be a chance to see the pump and dump happen in the market, but we can use it for our benefits.

TheUltraElite

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Quote from: LUCKMCFLY on August 25, 2020, 10:26:35 PM

Many of those who talk about crypto trading is that volatility often does its part and if you bet against it, to recover is very difficult, apart from that before going for any currency you must understand and try to predict the price of Bitcoin so that you do not go against you.

What I can say is that volatility can both make you rich and poor. Depends on what price you bought and when you are selling to being forced to sell.

Now the important thing is that many newbie traders have the habit of blaming the volatile markets as a scapegoat. While in many cases this is only partly true. The bitcoin price is currently on the rise but few months back the scenario was different. We saw stagnant prices a long time after the 2018dump.

Prices of 6k usd are still etched in memories of many users.

However if you buy at a lower price you have nothing to fret. The ones crying are the one who were going FOMO. Some analysts may say something but does not need to change your stance. You can be your own boss in the market.

Paycoinzzz

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In fact, all financial markets are bubbles and there are always lots of money behind to manipulate it. all are not according to the laws of nature, only man makes the law. So in the world of finance, we should have a cool mind to adapt to every situation that happens. The plan is one of the most essential to avoid the huge pump or dump of the whales. That is my experience and understanding of financial markets. So how about you guys? I am willing to hear from you.

chip1994

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HEX: Longer pays better

This is a warning for traders who want to get rich quickly in a short time. Even people who have had so many years of experience can still fail as usual, and the most important thing is discipline. The new traders are often very complacent when they just win the first trading, that will lead to a heavy failure. I myself used to be complacent when speculating on the WPP token and it was x11 after listed exchange. After that I used money to invest a lot and I failed, I realized that there is no career that will help us get rich quickly, the important thing is patience and discipline. Hope my lessons and Dave Portnoy will help you realize more.

Yogee

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Quote from: Shasha80 on August 25, 2020, 12:23:07 AM

Investors like Dave Portnoy who are already successful trading in the stocks market have high self-confidence.
This is what makes him lose money when he tries crypto trading, he equates crypto trading with the stocks market.

If you watched his video and read his tweets about cryptocurrency trading, you may notice that he didn't equate crypto trading with stock market. He underestimated it. He thought he'd make a lot of money because he saw it as an unregulated market where pumps and dumps are allowed.

He became careless because of his greed, ignorance of the market, and self-confidence that he can pump some tokens to the high heavens. When I looked back at what happened, I realized that he didn't even apply any of the TA skills he supposedly learned from stocks trading. He just went full hype and FOMO.

LUCKMCFLY

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Many of those who talk about crypto trading is that volatility often does its part and if you bet against it, to recover is very difficult, apart from that before going for any currency you must understand and try to predict the price of Bitcoin so that you do not go against you.

stomachgrowls

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Quote from: tbterryboy on August 25, 2020, 02:05:24 PM

I believe that it has a learning curve for sure, but I believe that learning curve is not really as high for someone who has done trading in other stuff versus people who haven't done anything like that before.

So, let's assume we have two people, one of them has done nothing in the trading world at all and never been involved with financial system but just work and get salary and that's it, and the other one is a very successful stock trader, just because one has some experience doesn't mean that he will start with a ton of profit right away, but it does mean that the trader would have a quicker learning curve and start to profit before the other person. Plus, we also have to take the moment they get in into consideration, someone who gets in during bearish time is likely to lose versus the guy who got in during bull time.

People that do had already some knowledge into some markets will definitely had an edge compared to those who do actually started from scratch.Duration or times on grasping something new would really be different
since the other one had already had experience and knowledge but somehow that new thing does have differences on what he had known in other stuff that he'd been doing.

In the case scenario above which it does really shows that stocks and crypto are totally different and if you do take it lightly then you'll surely experience some nasty loss and you would soon realize
that it doesnt really work that way.

The amount that had been lost would really be just a small amount to him but its great that he had realized something and it was just right that he had differentiated between crypto and stocks.

semobo

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Stock market analyzing knowledge can be helpful to do crypto trading but if some applies the same strategy of stock market into crypto trading then they are going to lose their money in no time as mentioned in OP.Crypto market is highly volatile so the strategies should be adjusted accordingly and for the beginners they should play with less capital until they know about crypto trading.

tbterryboy

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I believe that it has a learning curve for sure, but I believe that learning curve is not really as high for someone who has done trading in other stuff versus people who haven't done anything like that before.

So, let's assume we have two people, one of them has done nothing in the trading world at all and never been involved with financial system but just work and get salary and that's it, and the other one is a very successful stock trader, just because one has some experience doesn't mean that he will start with a ton of profit right away, but it does mean that the trader would have a quicker learning curve and start to profit before the other person. Plus, we also have to take the moment they get in into consideration, someone who gets in during bearish time is likely to lose versus the guy who got in during bull time.

Shasha80

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Investors like Dave Portnoy who are already successful trading in the stocks market have high self-confidence.
This is what makes him lose money when he tries crypto trading, he equates crypto trading with the stocks market.
In the end, he had to suffer quite a large loss, but this loss became a lesson for him that crypto trading was different
ball game. Likewise, experiences of crypto traders may not immediately succeed when trying trading stocks. Everything
that is new to us must first study it.

Yogee

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Quote from: exstasie on August 23, 2020, 06:02:18 PM

........
I really respect analysts who are rigorous and methodical in their TA, not to mention experienced. (Portnoy is none of the above)

They are somewhat rare, but we even have a couple on the Speculation board (dmwardjr and xxxx123abcxxxx). When they speak, I listen! Doesn't mean I blindly follow them, but I do find it's really important to incorporate ideas from other analysts to challenge my own biases and to understand all the different possibilities.

I read that he lost money in stock market as a beginner and was able to bounce back but I admit I don't know a lot about this Dave guy. You seem to know more. Does he have a public channel where he shows his TA?

Thank you for posting the two other users here. I've checked their TA thread and will save them. Are they 100% in crypto or they started with stocks or forex as well?

AmoreJaz

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Quote from: goaldigger on August 24, 2020, 07:35:13 PM

Quote from: gbrendeh on August 24, 2020, 12:10:41 AM

If you are a veteran in other market, you can be an amateur in the crypto world. It takes time and patience to study and belong.

Definitely because you are in a new market but considering the skills that you already have then you can trade easily after a month of studying crypto market or much earlier.

As a human we are adjusting in the new things so its normal to experience some losses at your first trade, but don’t give up and you have to continue trading until you familiarize yourself. If you’re good in stocks then you can become better in cryptomarket.

if you already have the trading skills, it will be easier for you once you grasp how crypto market works. because every alt or token, is like different companies that you are studying here. so you need to get a hold of what's going on in every project so as not to make mistake in investing your money to pump and dump coin or to an empty token surrounded by fomo only. we all started from scratch and only experience, all the tips and tricks gained thru the years will make you confident in crypto market.

goaldigger

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Quote from: gbrendeh on August 24, 2020, 12:10:41 AM

If you are a veteran in other market, you can be an amateur in the crypto world. It takes time and patience to study and belong.

Definitely because you are in a new market but considering the skills that you already have then you can trade easily after a month of studying crypto market or much earlier.

As a human we are adjusting in the new things so its normal to experience some losses at your first trade, but don’t give up and you have to continue trading until you familiarize yourself. If you’re good in stocks then you can become better in cryptomarket.

Savemore

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Quote from: Kelvinid on August 24, 2020, 09:33:52 AM

Quote from: MCobian on August 23, 2020, 07:59:39 PM

This taught us all that being successful traders in the stocks market is not necessarily successful trading in cryptocurrency. Besides,
I am disappointed with experienced traders who don't have the patience when trading, experienced traders shouldn't behave like
a newbie who expects a profit in a short time. After all, this person chose the wrong coins for investment, the LINK price was already
too high when he bought. What he did was only make LINK pump prices reach all time high, and benefit to LINK holders.In conclusion,
Dave Portnoy deserves this loss, because he cannot control his emotions when trading crypto.

Indeed, you right. Not all have succeeded in the stock market will also be succeeded in crypto trading. But above all, he thinks it negatively and quit crypto. What he has done now is not trading but an advertiser. He promotes LINK and so much to believe that people will like to invest and lost their money. I know some people will listen to him because he has a name already and being an ambitious person but never think that he'll turn you back if you lose your money because of stupidity.

I'd never think that he deserves to lose but he deserve s to be corrected and realize that he will be wrong. He stands of what He believes is right without considering the people around. Actually he has experience in trading but was different from crypto.

I agree to you because crypto and stock market are not the same investment vehicle especially in terms of liquidity and volatility. But if you have knowledge from the stock market then you become interested to cryptocurrency market or vice versa, understanding the new market will be lessen because of the past experiences. I first make investment in stock market but I managed to switch in global markets and cryptocurrency market. At first it is hard but I managed to understand it easily because of my past experiences in the market that I used to trade.

Kelvinid

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Quote from: MCobian on August 23, 2020, 07:59:39 PM

This taught us all that being successful traders in the stocks market is not necessarily successful trading in cryptocurrency. Besides,
I am disappointed with experienced traders who don't have the patience when trading, experienced traders shouldn't behave like
a newbie who expects a profit in a short time. After all, this person chose the wrong coins for investment, the LINK price was already
too high when he bought. What he did was only make LINK pump prices reach all time high, and benefit to LINK holders.In conclusion,
Dave Portnoy deserves this loss, because he cannot control his emotions when trading crypto.

Indeed, you right. Not all have succeeded in the stock market will also be succeeded in crypto trading. But above all, he thinks it negatively and quit crypto. What he has done now is not trading but an advertiser. He promotes LINK and so much to believe that people will like to invest and lost their money. I know some people will listen to him because he has a name already and being an ambitious person but never think that he'll turn you back if you lose your money because of stupidity.

I'd never think that he deserves to lose but he deserve s to be corrected and realize that he will be wrong. He stands of what He believes is right without considering the people around. Actually he has experience in trading but was different from crypto.

buwaytress

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Quote from: South Park on August 23, 2020, 02:12:09 PM

Agreed, what I find really funny about all of this is that he loses a significant amount of money and then when he's called on it he just answers that he is making so much money in the stock market that it doesn't matter, I wonder if this person is trading with the money of someone else? Because if I was one of those people I will be very worried and I will take my money out of his investment firm because if he takes the same reckless decisions in the stock market than the ones that he took in the cryptocurrency market I have no doubts that he will eventually lose it all.

Doesn't matter. If other people are actually allowing him to trade with their money, then shame on them if they find out he's bragging about that publicly.

Fool and his money often parted, that's a saying that keeps aging well IMO.

Anyway, we're definitely back on the hype horse.

gbrendeh

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If you are a veteran in other market, you can be an amateur in the crypto world. It takes time and patience to study and belong.

MCobian

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This taught us all that being successful traders in the stocks market is not necessarily successful trading in cryptocurrency. Besides,
I am disappointed with experienced traders who don't have the patience when trading, experienced traders shouldn't behave like
a newbie who expects a profit in a short time. After all, this person chose the wrong coins for investment, the LINK price was already
too high when he bought. What he did was only make LINK pump prices reach all time high, and benefit to LINK holders.In conclusion,
Dave Portnoy deserves this loss, because he cannot control his emotions when trading crypto.

exstasie

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Quote from: buwaytress on August 23, 2020, 07:03:51 AM

I'm amazed anybody takes anybody seriously in these channels, not even experimental, they follow all in.

Sheep in search of a shepherd! Tongue

I really respect analysts who are rigorous and methodical in their TA, not to mention experienced. (Portnoy is none of the above)

They are somewhat rare, but we even have a couple on the Speculation board (dmwardjr and xxxx123abcxxxx). When they speak, I listen! Doesn't mean I blindly follow them, but I do find it's really important to incorporate ideas from other analysts to challenge my own biases and to understand all the different possibilities.

South Park

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Quote from: buwaytress on August 22, 2020, 06:47:22 AM

Correction: it confirms that apart from Bitcoin and a really small number of other crypto (and that's me being nice, I really just think it's Bitcoin), everything else is pure shit and speculation, using utility and vanity technology as smoke and mirrors. Shame on him if he really thought it was anything else, veteran stock traders should know better.

Agreed, what I find really funny about all of this is that he loses a significant amount of money and then when he's called on it he just answers that he is making so much money in the stock market that it doesn't matter, I wonder if this person is trading with the money of someone else? Because if I was one of those people I will be very worried and I will take my money out of his investment firm because if he takes the same reckless decisions in the stock market than the ones that he took in the cryptocurrency market I have no doubts that he will eventually lose it all.

Topic: Trading crypto is a different ball game - page 3. (Read 802 times)