You all were right. I was wrong! | Bitcointalksearch.org

Mahanton

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Quote from: South Park on January 10, 2021, 04:52:58 PM

Quote from: cryptoadviser on January 02, 2021, 12:33:26 PM

UPDATE 1: Made it all back in the recent Ethereum and Doge move. Holding multiple coins which are pretty up! The client seems happy now! Thanks all for the support! I was terribly wrong but I have understood how to trade alts now! Will keep you posted about my portfolio.

That is the thing with altcoins, the only coin in this market that you can hold for the long term and be completely sure that it will give you profits is bitcoin, when it comes to altcoins you need to always be ready to get rid of them as soon as you see some weakness because as you can see the crashes in those coins are massive, XRP had a massive crash of 50% despite being the third coin in the market at the time, so I am sure you can imagine the kind of crash that you can see in coins that have lower market caps.

Anything could really happen even if its on the top rankings and on the example you had given which not everybody had anticipated.Nothing can be predicted in ahead of us or on what would happen in the future.
We do all speculate and its bad to make pity of yourself about you had done the wrong decision and other do make it right.Thing here is that you should really make yourself persistent into this very unpredictable
market.We would really be committing mistakes which are common and it isnt right that you do degrade yourself just because you did make it wrong.
Just try and try to be sustainable and be persistent into this market. It might not be easy but due to experience you can really handle it somehow.

South Park

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I am terrible at Fantasy Football!!!

Quote from: cryptoadviser on January 02, 2021, 12:33:26 PM

UPDATE 1: Made it all back in the recent Ethereum and Doge move. Holding multiple coins which are pretty up! The client seems happy now! Thanks all for the support! I was terribly wrong but I have understood how to trade alts now! Will keep you posted about my portfolio.

That is the thing with altcoins, the only coin in this market that you can hold for the long term and be completely sure that it will give you profits is bitcoin, when it comes to altcoins you need to always be ready to get rid of them as soon as you see some weakness because as you can see the crashes in those coins are massive, XRP had a massive crash of 50% despite being the third coin in the market at the time, so I am sure you can imagine the kind of crash that you can see in coins that have lower market caps.

Wulan_maniez

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As the market grew, many new cryptocurrencies emerged including Altcoin. Choosing the best Altcoin is a pretty difficult task, as there are
thousands of options out there. Therefore, if you want to succeed in investing or trading you must analyze the historical trends of the coin,
its technology, as well as its uniqueness so that what we expect will give you an advantage in investing. Your choice of coins does have
a pretty good history. So that you can multiply all your capital with the profit.

stomachgrowls

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Quote from: imstillthebest on January 08, 2021, 01:59:53 PM

your already wrong the moment that you swap all your btc to xrp because it was clear that btc is making a move last time but ripple was in the process of making a possible bull but didnt happen .
your still lucky because you bring back some to btc and put few to altcoins .
xrp is also getting back on track with the latest positive news from its creators , hope that will make you more happy and you dont need to put your self down because your still right somehow .

You cant remove on someones mind thinking of about the probabilities or chances of market switch up.We know that after bitcoin bull run then markets tends to shift into the other side.

The issue here is that the market trend didnt really changed up but instead it did really go for a unstoppable rally which did really result into red season of alts excluding to those top alts
which are making some serious gains at the moment.

Also, XRP does have some issues to add up and such conversion was really an unfortunate one yet it timings where xrp is facing up problems which in result into
dipping its price. Diversification isnt bad but with those calls sometimes doesnt turn out to be good.

imstillthebest

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your already wrong the moment that you swap all your btc to xrp because it was clear that btc is making a move last time but ripple was in the process of making a possible bull but didnt happen .
your still lucky because you bring back some to btc and put few to altcoins .
xrp is also getting back on track with the latest positive news from its creators , hope that will make you more happy and you dont need to put your self down because your still right somehow .

Reid

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That's great to hear.
Diversifying is such a mess, I don't really do it quite well. It's may not be my forte.
I tend to confuse the details of one coin with another even with an assistant (wife).

I sold some of my BTC too with other coins and some as cash.
Many of us could be on the same page as you.

Sirait

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^ plan B is always needed when you prepare yourself for trading. you will not be afraid to take steps if you want to profit in trading, I have seen many people who lose when trading are those who are always in doubt about their choice.

poodle63

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None of us could really predict what's gonna happen but XRP massive dumping is kinda obvious considering they are facing SEC which trying to make a lawsuit against them. XRP has been known to be some kind of "centralized" as well and that's why the hate to it. I'd definitely prefer to diversify or spread my money to some true decentralized coins that way the government could do nothing but just to monitor taxes and can't intervene with the coin itself.

New.in.trading

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Hey @cryptoadviser,

Big Respect for stating publicly that you missed out on some profits in BTCUSD. That is not an often seen thing. Especially in the crypto scene, so I want to give you some Respect points for that! The trading scene overall has changed to an "Indsta-Live" thing, where everyone shows off with only win trades and tries to act like the biggest douche out there. Keep it up, honesty is a value that is vanishing from our society.

maydna

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I hope @OP can still make money from the current situations. I see bitcoin price already made a correction and the price now want to go up to the higher price. I am not sure that if the price can get more supports this time, but if the price can get a big demand, I think this can attract to get another bull run, and the new rally will start. Ethereum and doge now are at a low price, and if the @OP want to enter the ethereum market, perhaps, it is the right time to buy some ethereum. But we need to be careful because we still don't know what will happen with bitcoin, ethereum, and the other coins.

CryptopreneurBrainboss

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Quote from: cryptoadviser on January 02, 2021, 12:33:26 PM

However, the point being, your speculation was right! I was wrong with the judgement else I would be a minimum of 30% more up.

Don't beat yourself up, you did what you felt was best for you and assuming you came out successful you'll be laughing at our faces now so you should just know mistakes happen. And the most important thing is that you learn from the mistakes to take corrections in bettering your trading life.

It's always not advisable to invest in alts using your bitcoin when it's on a rally, the chances of you losing your bitcoin is more than you profiting from the trade. Assuming you entered with fiats that's a different scenarios as you can always have an increase in USD but that of satoshi value is bond to fall.

Your investment in ripple was all about bad timing as people still made huge profit shorting it. And also the spot traders made some profits after the first retraced happened nevertheless I hope you learn one or two lessons from this experience of yours.

so98nn

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Haha, this is lesson to everyone who believe in the one side of crypto currency. I mean we can’t just rely on the atlcoins just because they are easy to buy and you think that it will give you profits. That’s completely insane. How can anyone believe in altcoins and not bitcoin in the first place when it’s actually moving upwards. (!)

We have seen downfall of altcoins when bitcoin was rising back in time. You could end up loosing lot of money this way. It is all right if you move it ETH or more valued coin but others are terribly risky.

Harlot

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It's pretty obvious that Bitcoin is the one leading the market right now and altcoins are barely catching on it so I don't see any reason why you think XRP will somehow mirror what Bitcoin is doing since for the past few months it is showing signs that Bitcoin is clearly faster compared to other cryptocurrencies. Chances are some altcoin hodlers know this as well and they just jump off to Bitcoin after selling their portfolio filled with Altcoins so what you did is the complete opposite, you must remove the mindset that an altcoin season will come after a Bitcoin rally because its not always the case.

lienfaye

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Now you know how risky it is to switch in coins that are not as good as bitcoin, it can drastically drop and worse be delisted in exchanges. If only you chose to let your money in bitcoin then im certain that you earn huge during this btc bullrun.

Anyways it happened already, move on and be wise from now on. Its part of being a trader, we commit mistakes but thats how we learn through our experience.

MCobian

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I think your biggest mistake would be not investing in Bitcoin a larger percentage, but preferring in altcoins as much as 60%. Moreover,
your money is in XRP as much as 40%, this is a very risky thing knowing that XRP is experiencing a lot of problems. Even though in the end
you can get a big profit from Ethereum and Doge, but to make it safer to convert your XRP into Bitcoin. Because after all Bitcoin is experiencing
the fastest price increase, and you can cover your losses in XRP if you convert your XRP to Bitcoin.

Fatunad

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Quote from: molsewid on January 06, 2021, 04:57:08 PM

You know it is quite better of you hold bitcoin rather than xrp or eth, as you can see bitcoin keeps on growing each day, it might have some dip recently but as you can see it is almost 36kusd now, I have read a thread in here asking if those people who bought bitcoin @27k are fool, maybe we can sa that if they are strong and did not panic they will have a 10Kusd profit now, and it continuesly pumping. I rather hold bitcoin or eth maybe now , I've hold xrp as well but fud came so it is not good to buy xrp now at high price or if you bought it I think it will take too much time for it to grow again.

Setting aside about XRP, it isnt really worth to buy in now specially of the current issues but it isnt bad to consider on buying when its already on the bottom.Just give some time for it to settled
and it might sound dumb to buy but it isnt really a bad idea either because getting cheap prices as low as possible will be the main target not for those low cap coins but for those projects which had been
on top rankings for a while now.Due to unpredictability of the market, we cant really tell whose right and whose wrong because it cant really be avoided for us to miss
out those opportunities to make money due to bad decision or doesnt react at all.

molsewid

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You know it is quite better of you hold bitcoin rather than xrp or eth, as you can see bitcoin keeps on growing each day, it might have some dip recently but as you can see it is almost 36kusd now, I have read a thread in here asking if those people who bought bitcoin @27k are fool, maybe we can sa that if they are strong and did not panic they will have a 10Kusd profit now, and it continuesly pumping. I rather hold bitcoin or eth maybe now , I've hold xrp as well but fud came so it is not good to buy xrp now at high price or if you bought it I think it will take too much time for it to grow again.

el kaka22

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I would say we are all crypto traders and we all do make "mistakes" time to time, there is really no point on dwelling about the pass. I have been around crypto world for about 8 years now, if I have bought bitcoin back in 2013 and kept buying for 8 years straight with 10% of all my salary, I would have been a multi millionaire by now, literally would have insane amount of money. But I didn't, why? Because I didn't know it would be like this. Does that make me an idiot? No, of course not, we wouldn't know, it is a news to all of us.

However same goes for you as well, how could you know that SEC would investigate Ripple? That was only published after the fact, so you wouldn't know, obviously I would suggest stay away from centralized coins because of other reasons, but it is still something we couldn't see beforehand, hence why I think you shouldn't feel too sad.

crwth

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That's part of the process as a trader. No one can be perfect, and even if you are trading for a year, 3 years, 10 years, or 20 years, you can never predict it 100% of the time. It's always going to be a process and a prediction in the long run. It's just going to be the journey that all traders will face. At least now, you have recovered. Some of the traders haven't been able to recover what they lost totally. Just like what I experienced, but that's just part of the process. I'm happy for you that you could say that "you know how to trade alts".

maxreish

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Quote from: cryptoadviser on January 02, 2021, 12:33:26 PM

UPDATE 1: Made it all back in the recent Ethereum and Doge move. Holding multiple coins which are pretty up! The client seems happy now! Thanks all for the support! I was terribly wrong but I have understood how to trade alts now! Will keep you posted about my portfolio.

That's good to hear.
After all, you recovered your deficit with the other altcoins. That's the advantage of having many eggs in the basket and diversified coins is a good choice. It could be better if you know how to read some TA even in simplest indicators for you to at least predict which way does your hold coins are leading. Better to learn one or two indicators rather than relying on other's speculation abojt particular coin.

Anyway, I sell off my xrp before the SEC issues. Just having a mild regrets with my dogecoins as I sell that off before the bullish time.

Topic: You all were right. I was wrong! (Read 390 times)