Trading crypto is a different ball game

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Quote from: Bitlover10 on September 12, 2020, 07:39:32 PM

Trading in crypto is really very difficult ball game and more risky then stock. Its need fully risk management and research because one single news makes high fractutuation in price. Also if you are a future trader your risk going to be high and you need to keep an eyes on the market 24x7 hours. It's gives you a lot of pressure. So keep away from future trading and be in spot and do safe trading.

You need to realize how you will manage time when you are doing this kind of trading. There are significance where people tends to choose this kind of practices anticipating that their entries will comes up good and bring decent to their investment, it's all about how well you'll going to monitor your assets and how well you understand the business.

Bitlover10

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Trading in crypto is really very difficult ball game and more risky then stock. Its need fully risk management and research because one single news makes high fractutuation in price. Also if you are a future trader your risk going to be high and you need to keep an eyes on the market 24x7 hours. It's gives you a lot of pressure. So keep away from future trading and be in spot and do safe trading.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Kamilaz on September 07, 2020, 09:53:55 AM

Only go for pump and dump if you're the luckiest person on earth. Otherwise, settle with long term investment. Patience is key.

Your advice is strange. How can someone know that a coin is going to pump and dump if they never owned it and never checks its price charts? Of course if you own it already then you should sell at the big pump because it never might go up again and because 99% of the altcoin projects are bound to fail. But otherwise it would wrong to jump into it. You see a 400% price rise on some shitcoin that you never heard of, dont buy it hoping it will go up more, it is a inorganic pump.

But yes a long term holding of bitcoin is definitely like a fixed deposit in a bank as long as you can sell it in future.

Oilacris

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Quote from: South Park on September 11, 2020, 02:03:47 PM

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Quote from: proscratcher on September 06, 2020, 02:33:02 AM

Yes, the cryptocurrency market is a different animal. It is very volatile as of the moment and you were been trading on other markets like stocks, you get shocked into this space.

Main reason why most banks and major traders are not in to it yet. It needs to become stable to get big sharks to it

Then we will have to wait for a very long time, people complain about the volatility of bitcoin but this is what the volatility of a free trading asset looks like, stock markets are not really free, they have a bunch of regulations to reduce the volatility especially when the market is going down and those measures are impossible to apply in something like bitcoin, so anyone interested in this market will have to accept it or simply refuse to participate, after all we do not really need anyone that does not really want to be here.

Would like to say the same thing on which theres no one who do forces you out to make investment or do get involvement with crypto.This isnt like with forex and stocks

when it comes to movement and regulation aspect.As we know that this is indeed a free market which no one can really dictate out on how prices do move.There might be some other

factors that can give out effects but not really that much considering that this market is composed of big community.Trading crypto is indeed different and if you do get

used to traditional markets then you will see that difference.

South Park

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Quote from: proscratcher on September 06, 2020, 02:33:02 AM

Yes, the cryptocurrency market is a different animal. It is very volatile as of the moment and you were been trading on other markets like stocks, you get shocked into this space.

Main reason why most banks and major traders are not in to it yet. It needs to become stable to get big sharks to it

Then we will have to wait for a very long time, people complain about the volatility of bitcoin but this is what the volatility of a free trading asset looks like, stock markets are not really free, they have a bunch of regulations to reduce the volatility especially when the market is going down and those measures are impossible to apply in something like bitcoin, so anyone interested in this market will have to accept it or simply refuse to participate, after all we do not really need anyone that does not really want to be here.

dimonstration

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Quote from: lixer on September 10, 2020, 11:16:29 AM

Cryptocurrency was created for transaction, but people saw the chance to make money through and the majority of them are getting in for that alone, and when it’s not working for them they decide that it’s time for them to quit. That’s the same thing that’s happening, he didn’t see that opportunity to earn money so he decides to call it a quit and go with the remaining he has left in cryptocurrency, though I don’t think he is really at loss here, the last tweet didn’t mention how much he earned at last, rather it said that he dumped the bag on them while the first one said he lost $25k.

So, it’s quite possible that he lost at first and then decided to try Link and recovered everything he lost before deciding to quit.

He didn't really quit as per his post he will try to study the market, he might win in last or not I think it he knows the drill and risk in crypto as well in Stocks since he even loss 1M in Stocks as per his tweet. Sometimes when we already use in doing what we're best as like for him in Stocks we applies it in crypto which way different in Stocks and with higher risk and volatility. We will need to weigh our knowledge and expectations in both different platforms so studying it carefully is a must.

Mahanton

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Quote from: lixer on September 10, 2020, 11:16:29 AM

Cryptocurrency was created for transaction, but people saw the chance to make money through and the majority of them are getting in for that alone, and when it’s not working for them they decide that it’s time for them to quit. That’s the same thing that’s happening, he didn’t see that opportunity to earn money so he decides to call it a quit and go with the remaining he has left in cryptocurrency, though I don’t think he is really at loss here, the last tweet didn’t mention how much he earned at last, rather it said that he dumped the bag on them while the first one said he lost $25k.

So, it’s quite possible that he lost at first and then decided to try Link and recovered everything he lost before deciding to quit.

You are right and this had been always the perception of most people when it comes to crpyto which they do believe that its on the investment side without realizing that it isnt really the reason on why its been created
which is solely talking about decentralization or in payment system.
For people who do just lost their money just because they do expect that much on gaining bucks on easy or quick process then that where theyre totally wrong and the situation given or exampled does show
to those people who do just jumped in with those kind of wrong hopes and when real situation slapped on into their faces then they do say negative things without even realizing
on what they have done.

lixer

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Cryptocurrency was created for transaction, but people saw the chance to make money through and the majority of them are getting in for that alone, and when it’s not working for them they decide that it’s time for them to quit. That’s the same thing that’s happening, he didn’t see that opportunity to earn money so he decides to call it a quit and go with the remaining he has left in cryptocurrency, though I don’t think he is really at loss here, the last tweet didn’t mention how much he earned at last, rather it said that he dumped the bag on them while the first one said he lost $25k.

So, it’s quite possible that he lost at first and then decided to try Link and recovered everything he lost before deciding to quit.

Kamilaz

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Only go for pump and dump if you're the luckiest person on earth. Otherwise, settle with long term investment. Patience is key.

proscratcher

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Yes, the cryptocurrency market is a different animal. It is very volatile as of the moment and you were been trading on other markets like stocks, you get shocked into this space.

South Park

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Quote from: apache20 on September 01, 2020, 03:55:13 PM

When I heard about this I really started to wonder if it's true how they say that anybody trading stocks with a bunch of money to throw around looks like an expert in a bull market. I have never traded stocks much but my experiences trading crypto has been really really difficult. That being said, I don't see how stocks would be much easier..

Thankfully, I did approach trading crypto with the mindset that this would be challenge of a lifetime and would require thousands of hours of work. I think that's probably the only way to look at it and get anywhere over the long haul. The fact that he has said that day trading is the easiest thing in the world makes me suspect that he's heading for some trouble somewhere down the line, big money or not.

I'm not an expert but the impression that I get is that people really believe that they know how to trade despite not making any effort to improve their skills in that area if they happen to enter the market when there is a bull market, and this can be very damaging for their future career as traders and as investors because anyone that has been in the market long enough knows that those two activities are not easy at all and the real talents of a trader show when things do not go according to plan and the only way to improve your skills on those circumstances is to put all your effort into studying those subjects, something that very few people do.

goldade

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This is a very interesting piece of news. I believe such conclusions after just a week in trading is unreasonable.
There are 2 points to consider here.
1. One week isn't enough to make such judgment.
2. He most likely didn't care to study how trading crypto works because of how experienced he is, trading other markets.

Even if one is an experienced trader trading crypto, one week isn't enough to count your losses or profit. One should give it time.
Secondly, trading without getting the necessary knowledge and skills will only result in losses. He's an experienced trader, he should know this.

However, just like OP said, it might have a negative impact in making people, especially his followers, stay away from bitcoin

Dime miner07

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Trading cryptocurrency required well versed technical analysis. It always works. You can make a decent amount of money doing a scalping trade. That is based on experienced. Volatility is the strength of cryptocurrency market.

Dorodha

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Truly trading crypto is a different ball game it is very difficult to say which way the crypto market will ever go. The crypto market is affected in the ups and downs although it depends on the fate it is often easy to change the destiny by using one's own knowledge and experience. before trading in crypto you have to learn well and verify which currency is better. Then you don't have to suffer too much even if the market goes up and down the whale market is very dangerous. At that time it is better to stop investing.

Btc_1856

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Quote from: Bitlover10 on September 04, 2020, 09:00:22 PM

I know in this field many possibilities happen but it's also true that those possibilities only for big money investors not for regular traders. Regular traders makes 100 200 or 300 dollars and one he lost everything in this market. So overall its bad impact on the market. Price manipulate by few people and exchanges and they can move price any direction and you can't do anything just watching to loose your money.

This the basic thing happened to me many times, which we need to be very careful with the market situation. We should always can't keep our whole investment into single coin and we need to divert to other postnatal coins and it will help us to make a profit. Some time we cannot help based on the market situation because many whales will change the according to their way.

wiss19

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Wall Street people are very upset about bitcoin just because of this reason. They are so used to the fact that they are the ones making and breaking companies that having absolutely no power over bitcoin upsets them.

Let’s talk about giant companies, Amazon, facebook, apple they are all huge, however if tomorrow all shareholders decide to sell their positions in these companies they would make the owners a lot poorer, and I mean a lot, or their customers could stop working with them, buy Samsung instead, use twitter instead (or tiktok or whatever) or simply buy from ebay instead and these companies will go down and bankrupt, even though they are huge they are still vulnerable. Bitcoin is not like that, as long as people who wants bitcoin exists, it will always be high and whales can't decide for us on this one.

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Quote from: Bitlover10 on September 04, 2020, 09:00:22 PM

I know in this field many possibilities happen but it's also true that those possibilities only for big money investors not for regular traders. Regular traders makes 100 200 or 300 dollars and one he lost everything in this market. So overall its bad impact on the market. Price manipulate by few people and exchanges and they can move price any direction and you can't do anything just watching to loose your money.

Markets will always be markets, you can't find a market where the prices are stable all the time. You can trade with gold, stocks, crypto or tomatoes, it's almost the same, there will be a time when prices will go down, and times when the prices will go up, learning how to surf on the waves and take the best from it (making profit) is a skill, and it's not for everyone! How much can you earn on the markets, there's no limit, you can start with small amount and make a fortune, you can start with fortune and lose it all, I saw many stories, and which story is yours will depend on you! Your skills, your bankroll, patience, you will have to give all you have if you wish to become successful. Every market can be a subject of manipulations, and nobody stops you from take a break when you see some whales coming in, you can dump what you have and wait for the prices to dip and buy when whales are buying.

Bitlover10

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I know in this field many possibilities happen but it's also true that those possibilities only for big money investors not for regular traders. Regular traders makes 100 200 or 300 dollars and one he lost everything in this market. So overall its bad impact on the market. Price manipulate by few people and exchanges and they can move price any direction and you can't do anything just watching to loose your money.

Ridwan Fauzi

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Maybe it will be different if he has tried to trade in gold but if I noticed gold and bitcoin have the same path their price movement. I see in bitcoin, there is a huge dump it means it is just one candle which has a long shadow and it is happen in gold as well. Honestly, I haven't tried to trade in stock market even I haven't seen a price movement in stock market. But I'll bet if the basic concept between bitcoin and stock market is mostly same, maybe this is not his place to trade.

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Quote from: jrrsparkles on September 03, 2020, 05:33:41 AM

People who thinks crypto trading is so easy to make profits are newbies because experienced trade know how the volatility of cryptocurrencies can eat the profits we made in hundreds of days in just few hours so we need to keep active all the time and stop loss feature can save from huge losses and much more to learn everyday from trading cryptos.

Sometimes, it's good to stay only in one field if you think you already mastered it rather than entering into crypto trading believing that it would be another rich quick scheme. Crypto trading is a different game and you need to be more knowledgeable and skilled with it first before you can say making profits in crypto trading is easy.

jrrsparkles

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People who thinks crypto trading is so easy to make profits are newbies because experienced trade know how the volatility of cryptocurrencies can eat the profits we made in hundreds of days in just few hours so we need to keep active all the time and stop loss feature can save from huge losses and much more to learn everyday from trading cryptos.

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So anyway, I applied as a merit source :)

Quote from: akram143 on September 01, 2020, 12:46:23 PM

Its easy as well as risky though, no one can make stable income by trading cryoto currencies but they can a lot compared to other investment so all they need is patience,they have to wait for their time to cashout and the profit margin is also important factor if you are a day trader.

Stable income trading is more a gimmick mate. If someone is telling you that, be ready to be receiving referral links to shady websites from them.

Trading income is by default unstable and will very depending on political news and how you react to the market. Some days you might be able to make some while other days you might lose some. It is all part of the cycle, nothing good or bad.

Keeping hodlers aside, those who are actively trading will have different buying and selling points, that is tough thing to keep up with. But day traders are developing their own bots and doing that.

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We can't underestimate crypto trading and we can think that it is just similar to stock trading. Definitely no...It is somewhat that some people been pulled by their emotions if they were seeing some people succeed in trading and they'll think that they can be also. They come into trading without knowledge, well, not would be a suicide and surely they end up losing.

This is a common mistake but people never change, they keep trying just to prove themselves that they can make it. No, probably not a good idea...it is only a way that we make ourself suffered most. it could be better to look at a place where we are comfortable with and we know also about that trying to push ourselves even though in our self we feel already hard.

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Quote from: apache20 on September 01, 2020, 03:55:13 PM

When I heard about this I really started to wonder if it's true how they say that anybody trading stocks with a bunch of money to throw around looks like an expert in a bull market. I have never traded stocks much but my experiences trading crypto has been really really difficult. That being said, I don't see how stocks would be much easier..

Thankfully, I did approach trading crypto with the mindset that this would be challenge of a lifetime and would require thousands of hours of work. I think that's probably the only way to look at it and get anywhere over the long haul. The fact that he has said that day trading is the easiest thing in the world makes me suspect that he's heading for some trouble somewhere down the line, big money or not.

For someone who do talk about trading to be the easiest thing to be done then that person is just simply lying or just trolling you out because its never been an easy thing due to very undpredictable movement of the price specially here on crypto.

I cant say that Stocks/forex is much easier because they are on the same concept where buying and selling assets is involved. Volatility may differ but the system is just the same.

You do actually have that good self realization or mindset on where these things cant really be just attained on a short amount of time.This would take years and much effort to be successful into this field.

apache20

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When I heard about this I really started to wonder if it's true how they say that anybody trading stocks with a bunch of money to throw around looks like an expert in a bull market. I have never traded stocks much but my experiences trading crypto has been really really difficult. That being said, I don't see how stocks would be much easier..

Thankfully, I did approach trading crypto with the mindset that this would be challenge of a lifetime and would require thousands of hours of work. I think that's probably the only way to look at it and get anywhere over the long haul. The fact that he has said that day trading is the easiest thing in the world makes me suspect that he's heading for some trouble somewhere down the line, big money or not.

South Park

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Of course, trading on the cryptocurrency market has always been risky, but at the same time it is highly profitable. There are tools to reduce risks.

What tools are we talking about? I use trading bots for trading, but I wouldn't say it gives guarantees.

Most likely he is not talking about actual tools but skills, the most important by far is your ability to set up a stop loss that will automatically close your trade if the market moves against you, this is very important because your goal as a trader should be to remain in the market long enough to capture the big movements, like the one we are seeing now, and the only way to do this is by protecting your capital and keeping your losses as small as possible until you wait for that day.

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Quote from: akram143 on September 01, 2020, 12:46:23 PM

Its easy as well as risky though, no one can make stable income by trading cryoto currencies but they can a lot compared to other investment so all they need is patience,they have to wait for their time to cashout and the profit margin is also important factor if you are a day trader.

Anyone who expects a steady income from crypto trading better not to go into it at all. It's a risky business without any guarantees for profit and with high possibilities for loss too. Of course, you can make a decent profit but that takes time, experience, patience and good risk management. Especially for day trading that is the most demanding and the riskiest form of trading.

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Its easy as well as risky though, no one can make stable income by trading cryoto currencies but they can a lot compared to other investment so all they need is patience,they have to wait for their time to cashout and the profit margin is also important factor if you are a day trader.

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Quote from: Yogee on August 22, 2020, 12:01:57 AM

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.

I do not agree with you that this will have a bad impact on crypto, because cryptocurrencies, especially Bitcoin, do not need such people who do not understand the truth of Bitcoin and its importance and deal with it as if they were going to a night club to play gambling and then return to their homes with some profits or losses.
Bitcoin needs people who understand the importance of Bitcoin and believe in it as a currency of value and help adopt it globally as the world's No. 1 currency of the future. This is what we need and we do not need such people who do not understand the true value of Bitcoin and cryptocurrencies.

Lorence.xD

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Quote from: ChronoLite on August 30, 2020, 08:37:48 PM

it is also because our fault tbh. mostly if people talks with you about how do you make money at trading, they will say trading because it's the easiest money making on cryptos. and by saying that trading is an easy task and everyone can do that, and people will literally believe that also after they lose, they just bitching about cryptocurrency because things are not looking at they have expected before

It is not the fault of the people who say trading is easy, it is up to the person whether they should believe or not, in the end the decision to do crypto trading falls in your hands as you are the one who will benefit or not from it. Regarding OP saying that having experience in other trading will not help you when you trade in crypto, I think so otherwise, when you get experience, you can use it to provide a foundation for new endeavors, the problem was he got cocky and have others manipulate the pump.

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it is also because our fault tbh. mostly if people talks with you about how do you make money at trading, they will say trading because it's the easiest money making on cryptos. and by saying that trading is an easy task and everyone can do that, and people will literally believe that also after they lose, they just bitching about cryptocurrency because things are not looking at they have expected before

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Quote from: AmoreJaz on August 30, 2020, 12:53:00 PM

Quote from: TheGreatPython on August 30, 2020, 12:34:38 PM

Cryptocurrency and stock market may seem quite similar in some ways, but there are ways they are different from each other and you wouldn’t know this until you’re part of it. The media portrays cryptocurrency as a market to make huge profits, and they like to make it seem like there are no risks involved in cryptocurrency trading, which is totally wrong.

I have asked some people why they think cryptocurrency is a good investment to make and their answers they mostly give to me, like 90% of the time, is that cryptocurrency is means to get more money and become rich. They all hear stories of those that turned millionaires, and they believe that if they get in it will also work for them the same way, and the most annoying part of it is that they want that profit to come in a day.

sad but true, they thought that if you are into crypto, you are rich! this is the reason when a newbie tried to get into crypto trading and lost, he will blame that crypto or btc is a fraud showing his ignorance on this market. the media plays an important role on creating some of initial perception towards crypto.
people usually judge what is being given to them without doing any kind of research. but a responsible viewer will take his time to read and understand what is really going on in crypto. and those that will take their time to do their own research will turn to be a good crypto user.

Common happenings here on this crypto market or even lets talk on traditional markets where there are still noobs who do believe that forex and stocks can give out that financial freedom if they do decide to jump on it
but when reality slapped up their faces then thats the time they do realize that things or expectations wont happen as they anticipated.For people who do make up rush decisions will most likely end up on the wrong path or do start on a very bad outcome yet it does need up more search and study on how things works here on this market before making any steps forward.It is indeed a different ball game and people should
really be aware on that in the first place.

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Quote from: TheGreatPython on August 30, 2020, 12:34:38 PM

The media portrays cryptocurrency as a market to make huge profits, and they like to make it seem like there are no risks involved in cryptocurrency trading, which is totally wrong.

Its not a wise decision to start trading or making investment just by following media or crypto based news portals. Yeah its true that worldwide people are making good profits by investing their money on crypto but they are doing this because of their knowledge and experiences. If anyone make investment just by hearing some media press releases that people are getting millionaire overnight then its definitely a wrong decision. Every investment have the possibility of profits and losses and its just not only applicable to crypto investment.

Quote from: TheGreatPython on August 30, 2020, 12:34:38 PM

They all hear stories of those that turned millionaires, and they believe that if they get in it will also work for them the same way, and the most annoying part of it is that they want that profit to come in a day.

Its nothing new and pretty much common in new crypto investors. I always suggest newbies to enrich their knowledge vault about the specific field before making early investment.

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Quote from: TheGreatPython on August 30, 2020, 12:34:38 PM

Cryptocurrency and stock market may seem quite similar in some ways, but there are ways they are different from each other and you wouldn’t know this until you’re part of it. The media portrays cryptocurrency as a market to make huge profits, and they like to make it seem like there are no risks involved in cryptocurrency trading, which is totally wrong.

I have asked some people why they think cryptocurrency is a good investment to make and their answers they mostly give to me, like 90% of the time, is that cryptocurrency is means to get more money and become rich. They all hear stories of those that turned millionaires, and they believe that if they get in it will also work for them the same way, and the most annoying part of it is that they want that profit to come in a day.

sad but true, they thought that if you are into crypto, you are rich! this is the reason when a newbie tried to get into crypto trading and lost, he will blame that crypto or btc is a fraud showing his ignorance on this market. the media plays an important role on creating some of initial perception towards crypto.
people usually judge what is being given to them without doing any kind of research. but a responsible viewer will take his time to read and understand what is really going on in crypto. and those that will take their time to do their own research will turn to be a good crypto user.

TheGreatPython

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Cryptocurrency and stock market may seem quite similar in some ways, but there are ways they are different from each other and you wouldn’t know this until you’re part of it. The media portrays cryptocurrency as a market to make huge profits, and they like to make it seem like there are no risks involved in cryptocurrency trading, which is totally wrong.

I have asked some people why they think cryptocurrency is a good investment to make and their answers they mostly give to me, like 90% of the time, is that cryptocurrency is means to get more money and become rich. They all hear stories of those that turned millionaires, and they believe that if they get in it will also work for them the same way, and the most annoying part of it is that they want that profit to come in a day.

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Everything is total different when it comes to trading crypto. If you have background in other assets and want to apply it in cryptocurrencies trading, you might get crushed immediately. It needed time to study and get it properly.

el kaka22

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I would say people are really not prepared that is the craziness crypto is, I would say that people would really need to understand that crypto has one difference, decentralization. You may think that not having power of someone over crypto is not something that we tried to use so far, because nobody tried to took control of it aside from maybe the bitcoin cash people, but in reality all the approach towards crypto has been done knowing full on well that we are actually not on a centralized thing so people couldn't really change anything if they failed.

Big huge corporations can't just risk everything for huge returns and when they fail get bitcoin bail outs, so at the end of the day we are talking about something so different than fiat that people who have done fiat can't really understand crypto.

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If his followers chooses to not like Bitcoin or cryptocurrency as a whole, then that is their own cup of tea.

You already said he was encouraging pump and dump, so deserves what he got from the market; he was planning to pump and dump the bags on who exactly? Lol on other investors? Don’t you think he just drank from his own cup, what he was planning to do to other people is what happened to him, he shouldn’t be whining about it.

By the way, cryptocurrency is like a free place, anyone that think it’s not meant for them shouldn’t be part of it, everybody must not be part of it.

South Park

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Quote from: AmoreJaz on August 24, 2020, 06:52:53 PM

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.

This is true and at the same time it isn't, let me explain, it is true that technical analysis should apply to any kind of asset regardless of the market in which it is in, however there is one big exception and that is that if an asset does not have enough volume then it is impossible to apply technical analysis to it and you will be better off applying fundamental analysis instead, why is that? This is because if the volume is too low then a whale could manipulate the price in whatever way they want and you will be unable to predict it with technical analysis, this is the reason why trying to apply technical analysis to any coin which is not in the top 20 is a waste of time.

adaseb

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Well is the stock market manipulated right now? Everyone says that its the bank and large whales that manipulate the price of certain stocks. However right now most people who are driving the market are 18 year olds on robinhood. Remember what happened right after the Hertz bankruptcy?

Someone basically posted they would buy it on wallstreetbets and the next day it kept going up and up and up and eventually it was priced higher than a few days prior to the bankrupty. So is this considered manipulation? There was real demand.

Hence its a term that's thrown around losely and everyone says everything is manipulated.

maydna

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Quote from: Paycoinzzz on August 25, 2020, 11:48:40 PM

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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So anyway, I applied as a merit source :)

Quote from: LUCKMCFLY on August 25, 2020, 09:26:35 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.

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Quote from: Shasha80 on August 24, 2020, 11:23:07 PM

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, 01:05:24 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, 05:02:18 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?

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Quote from: goaldigger on August 24, 2020, 06:35:13 PM

Quote from: gbrendeh on August 23, 2020, 11:10:41 PM

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 23, 2020, 11:10:41 PM

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, 08:33:52 AM

Quote from: MCobian on August 23, 2020, 06:59:39 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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win lambo...

Quote from: MCobian on August 23, 2020, 06:59:39 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, 01:12:09 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, 06:03:51 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, 05:47:22 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.

bitgolden

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I guess there are also personal differences as well, not every person in the forex or stock market trade the same way, there are differences in there as well and people do make a lot of calculated decisions there, so when those people come to crypto some of their decisions works out here and some of them doesn't, some people's methods translates well into crypto and some doesn't, we can't really say that "all of other stuff traders comes to crypto and lose money" that is too much of a broad generalization, there are people who could be successful as well, I hope that they wouldn't really lose money because we need every hand on deck during these times and when people profit they come back and try for more, I hope this dude comes back and has a success story next time.

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Quote from: GreatArkansas on August 22, 2020, 10:58:26 PM

I also know some small traders who started to trade for years in stocks or forex but when they tried to trade in cryptocurrency, jeez, they are like WTF? But what I am amazed on them, they are positive and still believe that they will get back their losses in the future and also their emotion are the best and well controlled.

Stocks trader already have their own skills on trading, they are just adjusting with cryptomarket but I'm sure they can get it sooner or later. Trader must be versatile, and trade on any market because we are all reading the same rules in trading. We always have to look for the good side despite of our losses, trading is about losing and winning and only those who survive their emotions, will have the chance to win.

buwaytress

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Quote from: exstasie on August 22, 2020, 05:58:11 PM

Quote from: buwaytress on August 22, 2020, 05:47:22 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.

He's no veteran stock trader. He's a blogger and accidental celebrity. He's been at it for a few months and there is no way he is making six figures a day in the stock market. I'm amazed people in here are taking his word on that. Cheesy

I'm pretty sure he lost money on Bitcoin too, not just LINK or whatever. I saw him cheering for $12K a few days ago. BTC has done nothing but dump since then.

Veteran trader relative to what a lot of people in the trading section or even in other crypto trading channels would claim. Seen a lot of them, even been in some of these channels (we all made mistakes in 2016/17, didn't we?).

I'm amazed anybody takes anybody seriously in these channels, not even experimental, they follow all in. Gotta learn these psychological things some day!

Hypnosis00

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He becomes a billionaire by September and so much confidence that he could make it after being out of the game.
I don't think he's telling the truth but it just a sort of encouraging people to be like him and become a trader then have to experience losses by then. That was really funny to think.
He underestimates crypto trading and made him suffer like that. He probably knows less about trading and he never expects that would be his ends. He can be successful in his previous carrier but possibly not for crypto trading.

Botnake

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Quote from: TitanGEL on August 22, 2020, 10:17:48 AM

Quote from: Latviand on August 22, 2020, 08:02:17 AM

Quote from: Botnake on August 22, 2020, 04:57:26 AM

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.

In terms of fundamentals, stocks are more likely be affected through news and disclosures especially the blue chips and 2nd liner stocks who have high volume and market capitalization where the price can be manipulated by jockeys but in terms of technical analysis, the basics concepts and foundation are useful in both cryptocurrency and stock market. The volatility is also different with each other and also the time because stocks are usually traded in office hours while the crypto can traded 24/7. In order to become successful in our trading journey, we should focus on just 1 market in order to lessen the curve of learning. Both of it requires mastery and a set of rules that will create discpline.

Correct, that's why he was surprise with crypto because crypto is a different ball game, success in stock trading does not automatically mean success in crypto trading as well. He should have learn his lesson, but I guess he'll not since he doesn't lose a huge amount of money that would make him think of improving his crypto trading, considering he is telling the truth that he is making 6 digits trading daily in stocks.

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Quote from: Yogee on August 22, 2020, 12:01:57 AM

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.

They think they could just play with it just like that because they have the experience.
The only problem is, it is way different and some people in this forum also think like that.
I don't think they will admit they had a difficult time from the start. It's bad for their reputation. Grin

Quote from: Yogee on August 22, 2020, 12:01:57 AM

- 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.

True. It might be negative when you are on that side.
But for crypto traders those pumps and dumps is like a machine for profit. Wink

CucakRowo

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aka JAGEND.

Quote from: Yogee on August 22, 2020, 11:19:44 PM

-snip-

If those "veterans" traders like @Great Arkansas mentioned in his comment, i believe they will back to the game. I believe they use small money (as part of their money management) to test market. If they have adapted with the market, then they just need to apply the techniques they already have (with a few modifications of course). And don't forget, both (forex and stocks) certainly has a very volatile market in some pair/ticker. Such as gold in forex.

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Quote from: GreatArkansas on August 22, 2020, 10:58:26 PM

I also know some small traders who started to trade for years in stocks or forex but when they tried to trade in cryptocurrency, jeez, they are like WTF? But what I am amazed on them, they are positive and still believe that they will get back their losses in the future and also their emotion are the best and well controlled.

I'm sure it's fun to listen to their stories. It was probably hard for them to see 50% rise or drop in a few hours. Are they back to the game yet?

Stocks and Forex are regulated markets and the usual pumps and dumps that we see in crypto won't work there I suppose. Those two markets are already considered volatile but nothing compared to how fast crypto moves.

GreatArkansas

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I also know some small traders who started to trade for years in stocks or forex but when they tried to trade in cryptocurrency, jeez, they are like WTF? But what I am amazed on them, they are positive and still believe that they will get back their losses in the future and also their emotion are the best and well controlled.

Yogee

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Quote from: exstasie on August 22, 2020, 03:49:10 AM

..... This kind of exposure can only be good for adoption.

Bad publicity is still publicity right?

Quote from: CryptopreneurBrainboss on August 22, 2020, 04:46:56 AM

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.

He invested and lost money in $oxt too. That's what he meant when he said "orchid flowers do die in crypto world" - orchid is $oxt. He was probably shocked at how the crypto market takes a quicker turn unlike in stock market. His painful experience is just the same with many new players.

Quote from: buwaytress on August 22, 2020, 05:47:22 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.

Good eye and I'm glad you noticed. I actually thought of excluding bitcoin in the post but we can't deny that every crypto had a huge price drop before. We, bitcoin believers, would rather call it as market correction but critics and other neutral spectators would easily see the rise to $20K from few hundred bucks and then drop to $3K as PnD. I don't think they really care about the underlying tech behind Bitcoin and they would still stick with the narrative that bitcoin is backed by nothing.

Quote

Shame on him if he really thought it was anything else, veteran stock traders should know better.

Do you think he listened to the wrong people and got the wrong advice?
It was mentioned in the article that he talked to the Winklevoss twins and he must have been so hyped after that.

hulla

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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.

exstasie

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Quote from: buwaytress on August 22, 2020, 05:47:22 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.

He's no veteran stock trader. He's a blogger and accidental celebrity. He's been at it for a few months and there is no way he is making six figures a day in the stock market. I'm amazed people in here are taking his word on that. Cheesy

I'm pretty sure he lost money on Bitcoin too, not just LINK or whatever. I saw him cheering for $12K a few days ago. BTC has done nothing but dump since then.

Yatsan

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He must have mistakenly compared crypto trading and stock market trading to be the same in nature. Well, at some point they are the same because you intend to do trading to earn a profit. But he must have been over confident on his trading capacity in stock market that is why he think that he can do also conquer the crypto market trading which he have been mistaken for the market we are into is very volatile which he might be surprised that his strategies he used on stock market trading cannot be that effective to be used on the crypto market trading as well.

He have seriously got the misconception about crypto market trading to think that trading on it is just like what he was doing in stock market trading which is not. He merely underestimated the nature of crypto market trading which he have surely learned about it right now.

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Quote from: rexxarofmoknathal on August 22, 2020, 02:31:51 PM

Shouldn't he have known better Huh

It doesn't matter how much experience you've got when you're trading you can't be 100% sure that your actions will fall through.

In this case, his coin pumps haven't worked well and ended losing him money because he didn't account for the thousands of other users who might see and respond to the trends differently. Plus, 1 week is not enough time to know or predict the market.

I think he has underestimated the things that happen in crypto trading with his experience in stock trading, Earning six figures is a lot and can possibly give anyone confidence to crossway and trade other assets.

Yah @tylerlinklevoss somehow provoking @stoolpresidente about being weak handed and I don't know if it is a good move or a bad move that @stoolpresidente dumped his bag, It's just being so overconfident on how can he make bags of profit for weeks in crypto makes him stupid.

Krislaw

sr. member

Activity: 1204

Merit: 388

In his loss surely shows the volatility of cryptocurrency that even small things can influence and affect the price, that's why there is a day trading in stocks and it's not the same in Bitcoin where you need to consider and hodl a little bit because it's not always the same. 25k seems to be small to him considering the 6 figures he earned in a day, and also i think Dave Portnoy becoming a crypto millionaire in september would be plausible because that's Dave Portnoy.

rexxarofmoknathal

sr. member

Activity: 980

Merit: 260

Shouldn't he have known better Huh

It doesn't matter how much experience you've got when you're trading you can't be 100% sure that your actions will fall through.

In this case, his coin pumps haven't worked well and ended losing him money because he didn't account for the thousands of other users who might see and respond to the trends differently. Plus, 1 week is not enough time to know or predict the market.

bearexin

full member

Activity: 1162

Merit: 168

The thing about this that makes it such a great marvelous situation about bitcoin is the fact that people who are taking money out of your pockets using their own money, can fail in crypto and that is awesome.

Right now, the stock market and the likes are leaning towards rich people making more money, they are literally doing everything on the book to make sure the small timer loses money while the big whales earn, that is what stock market is all about, whereas in crypto you could simply get rich if you are lucky, or lose everything if you are unlucky, crypto doesn't care if you are rich or powerful, look at bitcoin cash people, they literally had all the mining power and all the money yet they couldn't even make a dent in bitcoin world when they wanted to.

rodskee

full member

Activity: 2520

Merit: 204

Quote from: gantez on August 22, 2020, 10:11:09 AM

I guess $25k is huge enough to lose in crypto trading. I guess his stock and crypto are different business and independent. He needs to understand that there are whales ready to dump at any time given.

With his wordings he already knew that, the amount he loss will be the encouragement for him
to dig deeper from this market.
He's out for now but expect him to comeback with a much better strategy, somehow he will figured
it out what will be the best strategies to use inside.
If he made it inside stocks sooner or later he will also find the right blends to work with crypto, let
time judges what he's next move.

TitanGEL

sr. member

Activity: 1036

Merit: 281

Quote from: Latviand on August 22, 2020, 08:02:17 AM

Quote from: Botnake on August 22, 2020, 04:57:26 AM

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.

In terms of fundamentals, stocks are more likely be affected through news and disclosures especially the blue chips and 2nd liner stocks who have high volume and market capitalization where the price can be manipulated by jockeys but in terms of technical analysis, the basics concepts and foundation are useful in both cryptocurrency and stock market. The volatility is also different with each other and also the time because stocks are usually traded in office hours while the crypto can traded 24/7. In order to become successful in our trading journey, we should focus on just 1 market in order to lessen the curve of learning. Both of it requires mastery and a set of rules that will create discpline.

gantez

full member

Activity: 1736

Merit: 121

I guess $25k is huge enough to lose in crypto trading. I guess his stock and crypto are different business and independent. He needs to understand that there are whales ready to dump at any time given.

hulla

hero member

Activity: 1834

Merit: 566

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.

Latviand

full member

Activity: 1540

Merit: 219

Quote from: Botnake on August 22, 2020, 04:57:26 AM

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.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

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.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

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.

CucakRowo

hero member

Activity: 994

Merit: 593

aka JAGEND.

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

Botnake

hero member

Activity: 2856

Merit: 667

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.

TopTort777

legendary

Activity: 2478

Merit: 1492

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.

CryptopreneurBrainboss

legendary

Activity: 2450

Merit: 4295

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.

exstasie

legendary

Activity: 1806

Merit: 1521

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.

Yogee

sr. member

Activity: 1554

Merit: 413

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

Topic: Trading crypto is a different ball game (Read 862 times)