I supported what he said about crypto trading to be a different ball game due to the market highly volatility in nature which the reason why some people said crypto trading is like gambling and crypto itself is another course but I believe the reason why Dave Portnoy lost $25K is that he didn't take his time to learn the fundamental part of crypto trading especially the stop loss strategy and emotion control.
Meanwhile, every individual that cant do that shouldn't trade cryptocurrency.
Topic: Trading crypto is a different ball game - page 5. (Read 857 times)
Why can't he just maximize his profit if he is telling the truth, the thing is some people are just boasting their profit but we really don't know if they are profitable in reality. Damn, crypto is really different as this market could sometimes be manipulated and high risk compared to stock market, so if one masters stock market already, there's no reason to try to trade in crypto, besides, the goal is the same, we just want to make money.
That's his way to set a trend so that people will believe that his ways are effective to set a huge profits, still, the truth struck him so hard.
We all want to succeed and make our trading journey profitable, but we should also consider that we should make it in our own way. You can make your trading profitable if you are willing to learn and deal with those risks.
Dealing with the stock market is not that easy depending on the market situation, but if you tried to become independent to make yourself grow your assets, that will help you learn something in every transaction that you do.
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.
I think the guy is just playing possum here. Perhaps he now learns how to influence his followers using twitter and then shill and then dump it. Lol, a classic social influencer all for the money in crypto. Although he is successful in stocks, but crypto is a different ball game for him as he can easily make money. Just like what he did on LNK, easy money for him and then tells us that crypto is not for him, yeah right.
He help "pumping" LINK from $16 to $20 if i'm not wrong. Many LINK hodler's said thanks to him. But he forget, there's a "Marines" in link. That will give him a "nuke". LOLLLL
Here's his "new lament" about crypto :
https://twitter.com/stoolpresidente/status/1296862194689290241?s=20
Previous tweet about $12k hoping for btc :
https://twitter.com/stoolpresidente/status/1294313291179794434?s=20
Here's his "new lament" about crypto :
https://twitter.com/stoolpresidente/status/1296862194689290241?s=20
Previous tweet about $12k hoping for btc :
https://twitter.com/stoolpresidente/status/1294313291179794434?s=20
Would you believe this guy?
He made 6 figures a day in stocks trading but try to get it done in crypto trading as well.
Why can't he just maximize his profit if he is telling the truth, the thing is some people are just boasting their profit but we really don't know if they are profitable in reality. Damn, crypto is really different as this market could sometimes be manipulated and high risk compared to stock market, so if one masters stock market already, there's no reason to try to trade in crypto, besides, the goal is the same, we just want to make money.
He made 6 figures a day in stocks trading but try to get it done in crypto trading as well.
Why can't he just maximize his profit if he is telling the truth, the thing is some people are just boasting their profit but we really don't know if they are profitable in reality. Damn, crypto is really different as this market could sometimes be manipulated and high risk compared to stock market, so if one masters stock market already, there's no reason to try to trade in crypto, besides, the goal is the same, we just want to make money.
Despite he is an experienced trader, making such statements only after one week of crypto trading seems silly. Seems he dont know what holding is or surrender to early.
I think that no matter how experienced you are, one week is not enough to make a conclusion about the crypto market.
I think that no matter how experienced you are, one week is not enough to make a conclusion about the crypto market.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
I'll just say he doesn't have patience, I'm guessing he investment has all to do with $Link since that's what can be seen in the tweet he responded to. $Link had a little corrections and all he could think of was leaving, guess his little time in the space contributed to his decisions. What was he thinking? that his investment will keep increasing lol. Love the respond from @Tyler, he isn't meant to be here and it's good he's leaving before it's too late.
All he just did was creating more awareness, if he want to be on the safer say why not pick another coin yet to be in the spotlight instead of joining an already moving train that what most early Investors are doing is dumping so they can rebuy at the bottom.
All he just did was creating more awareness, if he want to be on the safer say why not pick another coin yet to be in the spotlight instead of joining an already moving train that what most early Investors are doing is dumping so they can rebuy at the bottom.
Quote
I’m out on crypto because coins don’t always go up. Stocks on the other hand continue to always go up.
https://twitter.com/stoolpresidente/status/1296910690930896896
LOL!
Very interesting to see Dave Portnoy pushing into the crypto world. He's got quite a following from his Barstool Sports fame, and his army of sports bettors turned stock traders. This kind of exposure can only be good for adoption.
It took only a week before a guy who is quite known in the stock market trading world to realize trading crypto is a different animal. Funny how he once said that pump and dumps in crypto is encouraged and can be done all day long. He helped pump up some coins but only to find out later that veteran crypto traders are dumping their bags on him.
He's currently out of the game exiting with a $25,000 loss which is probably not so big to him since he boasts the 6 figures he makes on stock market.
- https://twitter.com/stoolpresidente/status/1296862194689290241
- https://twitter.com/stoolpresidente/status/1296858421258526720
What happened to the guy has both good and bad impact on crypto.
- Good: It shows that whoever comes in and take crypto as another get rich quick or pump and dump scheme will have to learn the hard way. It's not something that can be mastered in a short time even if you are a business owner or a veteran trader in other markets.
- Bad: It confirms what many critics have been saying about cryptocurrencies that it's a place of hype or pumps and dumps. A lot of his followers who are skeptical on bitcoin has more reasons to stay away now.
You can check these articles if you want to know more about what happened:
- https://cointelegraph.com/news/dave-portnoy-says-he-ll-be-a-crypto-millionaire-by-september
- https://cointelegraph.com/news/barstool-sports-founder-unprepared-for-bitcoin-exits-after-25k-loss
He's currently out of the game exiting with a $25,000 loss which is probably not so big to him since he boasts the 6 figures he makes on stock market.
- https://twitter.com/stoolpresidente/status/1296862194689290241
- https://twitter.com/stoolpresidente/status/1296858421258526720
What happened to the guy has both good and bad impact on crypto.
- Good: It shows that whoever comes in and take crypto as another get rich quick or pump and dump scheme will have to learn the hard way. It's not something that can be mastered in a short time even if you are a business owner or a veteran trader in other markets.
- Bad: It confirms what many critics have been saying about cryptocurrencies that it's a place of hype or pumps and dumps. A lot of his followers who are skeptical on bitcoin has more reasons to stay away now.
You can check these articles if you want to know more about what happened:
- https://cointelegraph.com/news/dave-portnoy-says-he-ll-be-a-crypto-millionaire-by-september
- https://cointelegraph.com/news/barstool-sports-founder-unprepared-for-bitcoin-exits-after-25k-loss
Jump to: