Seriously, allot of money has leaked out of XC in the last few hours into VTC, so much that the price dropped 20%, so you then come here and tell people to transfer their money over to VTC when the dump is commencing. Meaning, they would have to sell out at a 20% loss to get into a coin that's being dumped.
I can't put into words how stupid that is.
I didnt mean now and I didnt even mention buying VRC. I just said it is probably a good idea to diversify into more than one coin. I do like XC at this price but the volume is just too low. I will probably dump the rest of my XC at around 115k if VRC has a good buying oppurtunity like back to 11k.
But that doesnt mean I hate XC. There is nothing stopping me buying back into XC in the future, like when they have some news and market volume.
Between me and a friend we collectively missed out on around $80k profit by not selling XC near its high because we got too emotional yet I see the professional traders in here keep emotions out of it can easily short a coin in the short term while holding a positive outlook in the long term.
edit: Just wanted to add, yes I was very stupid to sell LTC that low but thats because I didnt understand how the markets were being manipulated and I was believing too much in price. But now that I have started trading full time I will not make the same mistake.
Firstly, your a bagholder, not people investing now. Smart people sold out ages ago and will begin rebuying now, not the other way around.
Secondly, your last few posts on the XC thread, the XC thread, have mentioned VRC a load of times. To the point where I had to check your previous posts just to make sure you wern't some VRC shill promoting the coins pump and dump around the forum.
Thirdly, you don't promote diversification when the price is well below its natural low, you promote it when it's climbing exponentially. And you definitely don't do it when the coins price is guaranteed to double in the next month.
Fourthly, Its the weekend. Since when has volume not taken a huge dive on a weekend.
Finally, if you think LTC's price has anything to do with manipulation then seriously stop trading now. Only people who don't understand how markets work claim the swings that they don't understand are because of manipulation. It's like the kids who don't get their favourite Christmas presents blaming it on Santa Claus.
I'm going to use that quote about Santa Claus and manipulation. It's an excellent metaphor.
Anyways, this seems like a non argument. If you haven't diversified originally then you shouldn't be investing. People who go 100% in on each investment arn't investors they are gamblers.
Also, if you believe for a split second that trading is for everyone it isn't. It seems everyone with access to bitcoins and an exchange now thinks of themselves as some flash Wall Street day trader, and their not. Most people lose money trading. The best advice I can give is unless you know the ins and outs of everything related to trading, don't even bother.
The smart people are the ones that know this and chose to be investors instead. They are the ones that skip from investment to investment every few months and make gains upon gains. instead of traders who make periodic gains here then periodic losses there, all the time while playing their emotions more than playing the markets, and 99% of the time, losing out on huge opportunities of exponential gains. Investors though will spend two months doubling their money just holding in a smart investment choice. They do that four times in a year they have 16x what they started with. No traders, apart from a very small amount of us, can beat those returns, and that's only because we have spent years and years doing this professionally. People who don't have that experience are ultimately in for a very bad time, just like the poster above. If he would have just sat back, worked out in and out numbers, and doubled up every few months instead of making trades here and there he wouldn't be sitting at the opportunity loss he is now.
Urghhh. Point I'm making is don't become traders. Not in this game. Only a few percent of the people who think they are traders will ever beat investors. Investors are where the smart people are at, traders in this game are mostly wannabes who lose allot more than they could gain.
Find two investments. buy at the bottom and hold then, sell at the top. Start again. Rinse repeat.
To put this in perspective, I spent years as a professional trader, and I rarely have more than four trading sessions a month. Pretty much all of my time is spent doing research and evaluating my current and future investments. In crypto when you can double your money every two months just by making a smart investment choice, there is near zero need to trade apart from on news or to switch investments.
