Not this discussion again.... profit can be made on any coin, think of them as mini stocks or shares
Entry point is the main place for greater adoption, anything after that is just chance.
Topic: You buy 100 LTC at 30$. In a few months... (Read 769 times)
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Because everyone knows it will go up, it'll just take some time.
People selling it at that price obviously beg to differ.
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Personally, for me, this doesn't seem so "huge" for me. A 4000 $ profit.
A 4000$ profit from 3000$ investment is huge by almost any metric.
You wouldn't believe how many people give up their money to a bank regularly for a year to receive 60$ from 3000$
Let's say, you buy 100 LTC today at 30 $ each. That's 3000 $.
When 1 LTC will be - let's say - 70 $ each, you will have a profit of 4000 $.
If you were to buy those 100 LTC now, today, and you would see that you made 4000 $ profit, would that make you happy and cash out or hold onto it, hoping to get some more profit?
Personally, for me, this doesn't seem so "huge" for me. A 4000 $ profit. But even when 1 LTC reaches 200 $ that would mean that you have 17000 $.
What can you even do with 17000 $ nowadays?
Ofcourse, a little profit is always welcome, but it has to be enough to possibly, retiring and start enjoying life, right?!
If you would buy 500k MyriadCoins, that would only cost you 1500 $ and someday, when 1 Myriad reaches 1 $ that would mean that you almost have a profit of 500k $
I'm just saying, to make an actual living out of this, wouldn't you want to invest 50000 $ in LTC right now and enjoy your profit in a few years? Because everyone knows it will go up, it'll just take some time.
When 1 LTC will be - let's say - 70 $ each, you will have a profit of 4000 $.
If you were to buy those 100 LTC now, today, and you would see that you made 4000 $ profit, would that make you happy and cash out or hold onto it, hoping to get some more profit?
Personally, for me, this doesn't seem so "huge" for me. A 4000 $ profit. But even when 1 LTC reaches 200 $ that would mean that you have 17000 $.
What can you even do with 17000 $ nowadays?
Ofcourse, a little profit is always welcome, but it has to be enough to possibly, retiring and start enjoying life, right?!If you would buy 500k MyriadCoins, that would only cost you 1500 $ and someday, when 1 Myriad reaches 1 $ that would mean that you almost have a profit of 500k $
I'm just saying, to make an actual living out of this, wouldn't you want to invest 50000 $ in LTC right now and enjoy your profit in a few years? Because everyone knows it will go up, it'll just take some time.
What if you invest in ethereum? , Ltc will indeed rise, but ethereum will also jump high, with some tokens that have been released using ethereum, possibly ethereum has a very high user for the next few years. Certainly it will also make the price ethereum higher than LTC
You're making a HUGE mistake while saying that. That shitcoin can never be $1. Nice try but you need to learn market cap thing.
I definitely say that most coins aren't as appetizing now. I bought most of my LTC around $3-4 a piece, holding that give's me zero issues. Buying @ 30 though would be a bit harder for me, even if LTC is headed to $100.
Most people are still in the mode of "I'm going to quadruple my money", but they fail to realize that the market has already gone up 1000%+ for many coins. To buy in now is to say "I don't mind risking eveything I put into this by buying a coin that is now 10x higher than it was 2 months ago, and hope I make 400%", not very worth it.
As for when to buy & when to sell, I don't look at it as "profits" or "how much I've made". In fact, I do everything in my power to not pay attention to the value of my trades and instead pay attention to price action.
As you say, you buy a coin for $10 bucks, it rises to $20... If you are attached to the value you will say to yourself "wow I just doubled my money" and you will now be hell bent on protecting those profits. This is how most people take profits early, their greed clouds their judgement and they cash out for small profits and then sit on the sidelines while the coin goes 10x and they could've made 100 grand.
A better way about it is to mix the 5 metrics for price analysis and watch for a convergence of all 5 metrics to indicate a trend reversal.
Price, volume, momentum, volatility, & sentiment.
Nearly every trend reversal in any market has this (both up or down trend reversals)
You will see price flatten out on the long to medium term graph, bulls & bears will be fighting for direction. You will see extremely high volume during these times as buyers & sellers battle it out for directional dominance (eventually one side will win). You will notice that as the volume rises, the directional momentum has fallen, this is indicative of the one-sided buying/selling coming to an end and that there are now equal amounts of buying and selling. Volatility (price swings both up and down) will have increased exponentially as the trend progresses, you will notice much larger swings (for instance, look how long it take for bitcoin to get to $1000 from $300, now look how large the volatility has got since we've past $1000). You will also hear people talk about how it's "going to the moon", "about to 4x", "guaranteed profit", "One bitcoin will be worth 50k one day" ... basically you will see extreme exhuberence among unsavy market players.
When you see all 5 of those things combine, it's time to start watching for a trend reversal. Trading is a psychological game. Give yourself an advantage by using other's emotions against themselves.
Most people are still in the mode of "I'm going to quadruple my money", but they fail to realize that the market has already gone up 1000%+ for many coins. To buy in now is to say "I don't mind risking eveything I put into this by buying a coin that is now 10x higher than it was 2 months ago, and hope I make 400%", not very worth it.
As for when to buy & when to sell, I don't look at it as "profits" or "how much I've made". In fact, I do everything in my power to not pay attention to the value of my trades and instead pay attention to price action.
As you say, you buy a coin for $10 bucks, it rises to $20... If you are attached to the value you will say to yourself "wow I just doubled my money" and you will now be hell bent on protecting those profits. This is how most people take profits early, their greed clouds their judgement and they cash out for small profits and then sit on the sidelines while the coin goes 10x and they could've made 100 grand.
A better way about it is to mix the 5 metrics for price analysis and watch for a convergence of all 5 metrics to indicate a trend reversal.
Price, volume, momentum, volatility, & sentiment.
Nearly every trend reversal in any market has this (both up or down trend reversals)
You will see price flatten out on the long to medium term graph, bulls & bears will be fighting for direction. You will see extremely high volume during these times as buyers & sellers battle it out for directional dominance (eventually one side will win). You will notice that as the volume rises, the directional momentum has fallen, this is indicative of the one-sided buying/selling coming to an end and that there are now equal amounts of buying and selling. Volatility (price swings both up and down) will have increased exponentially as the trend progresses, you will notice much larger swings (for instance, look how long it take for bitcoin to get to $1000 from $300, now look how large the volatility has got since we've past $1000). You will also hear people talk about how it's "going to the moon", "about to 4x", "guaranteed profit", "One bitcoin will be worth 50k one day" ... basically you will see extreme exhuberence among unsavy market players.
When you see all 5 of those things combine, it's time to start watching for a trend reversal. Trading is a psychological game. Give yourself an advantage by using other's emotions against themselves.
Let's say, you buy 100 LTC today at 30 $ each. That's 3000 $.
When 1 LTC will be - let's say - 70 $ each, you will have a profit of 4000 $.
If you were to buy those 100 LTC now, today, and you would see that you made 4000 $ profit, would that make you happy and cash out or hold onto it, hoping to get some more profit?
Personally, for me, this doesn't seem so "huge" for me. A 4000 $ profit. But even when 1 LTC reaches 200 $ that would mean that you have 17000 $.
What can you even do with 17000 $ nowadays? Ofcourse, a little profit is always welcome, but it has to be enough to possibly, retiring and start enjoying life, right?!
If you would buy 500k MyriadCoins, that would only cost you 1500 $ and someday, when 1 Myriad reaches 1 $ that would mean that you almost have a profit of 500k $
I'm just saying, to make an actual living out of this, wouldn't you want to invest 50000 $ in LTC right now and enjoy your profit in a few years? Because everyone knows it will go up, it'll just take some time.
When 1 LTC will be - let's say - 70 $ each, you will have a profit of 4000 $.
If you were to buy those 100 LTC now, today, and you would see that you made 4000 $ profit, would that make you happy and cash out or hold onto it, hoping to get some more profit?
Personally, for me, this doesn't seem so "huge" for me. A 4000 $ profit. But even when 1 LTC reaches 200 $ that would mean that you have 17000 $.
What can you even do with 17000 $ nowadays?
Ofcourse, a little profit is always welcome, but it has to be enough to possibly, retiring and start enjoying life, right?!If you would buy 500k MyriadCoins, that would only cost you 1500 $ and someday, when 1 Myriad reaches 1 $ that would mean that you almost have a profit of 500k $
I'm just saying, to make an actual living out of this, wouldn't you want to invest 50000 $ in LTC right now and enjoy your profit in a few years? Because everyone knows it will go up, it'll just take some time.
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