Post: #1

Sometimes we get stuck with a coin that we don't want to sell for a loss.

My bag is Bitcoin Cash. When it was added to Coinbase, the price there shot up to $9000 before trading was halted. I figured it was a steal to buy at $3700 on another exchange. The price quickly went below $3000.



I do think the price will recover, but it may take a long time.

Post: #2

Request
BAT
ICX

While the losses aren't BCH levels, 10-29% losses hurt.

This is me right now:

Post: #3

A lot of guys don't like to sell for a loss, but it's usually an ego thing. I think if we put the ego aside and make independent and rational decisions strictly on the strength and confidence in a coin, we make more money.

Post: #4

Bitcoin cash to me was like an addicts first dose. I got it in September and sold half of what I had around thanksgiving at a massive profit. I later found out it was some type of pump and dump situation. I put half of the remainder in monero.

I'm a loyal guy, so I still got a heavy bag of bch, which is basically all the house's money. Still, I'm seeing it $2512ish right now.

Aloha!

Post: #5

id hold. also lesson is not to buy based on gdax prices. thats the exchange most suspectible to manipulation and prices usually run higher than other exchanges.

2018-2019 is when institutional $ comes into bitcoin. So far they've made a bit being long alt-coins and short bitcoin but i think anybody shorting any crypto is in for a world of hurt. when those short positions unwind, itll be a big leg up.

I've bought XMR at all time highs basically but i also missed the boat on ETH by not buying in at every ATH so not making that mistake again.

I think all crypto in top 10 (probably top 50) are going to have a massive leg up. the liquidity isnt that high and heavy buying pressure means price are bound to go up.

Post: #6

Cattle Rustler, what's wrong? You've been around long enough to know that a 30% drop in crypto is normal, especially when the entire market dips. Also I think all those coins will go up significantly this year.

Having like a 50% drop in price in BCH that you have is much worse because you might be waiting around for a couple months or even a year for that to recover. I also believe it eventually will just because everything is growing in this market.

However it might not recover and there might be a large opportunity cost of not using the money that's left for something else. Which might make you think about cutting your losses. A lot of traders cut their losses early to protect their capital, because without their capital, they are nothing. But that type of thinking came from the stock market and here everyone says HODL.

Post: #7

OMG -- bought at the end of summer then we went on a few months bear run. Still not break even with BTC on my first buy in but looking like it will happen soon though. I will likely hold for the long term, thinking it will have a pretty good year.

Post: #8

I bought more nebl at $50.

I bought most of my nebl stack at $5 so it's not too bad I guess.

Post: #9

(01-12-2018 01:28 PM)gringoed Wrote:  A lot of guys don't like to sell for a loss, but it's usually an ego thing. I think if we put the ego aside and make independent and rational decisions strictly on the strength and confidence in a coin, we make more money.

I agree with this in theory especially making rational decisions, however in the crypto-space people have such short time horizons it's ridiculous. If they don't make 10k in a day or if a coin doesn't do a 20x they're disappointed.

I have a blockchain multi-reddit to keep track of the scene and lately there are lots of fear posts. Look at a token like REQ, it's been dropping like a brick lately, but according to delta the one month gain is 189%! Try to get that in the stock market.

Reading the freak-out posts tells me a few things.

1) Most investors are probably inexperienced.
2) Their investments are too large in relation to their total assets. In other words they are playing with money they can't afford to lose.

It's a recipe for disaster and sleepless nights.

My point is do your research, pick a project you feel is strong, and let the chips fall where they may. Looking at the portfolio every 10 minutes is bad for the psyche. Setting loss limits also helps, like if it goes down a certain percentage you sell no questions asked.

Just my opinion of course. If there's a massive bear market we're all going to lose money, but we don't need to lose our minds.

I used to play lots of poker back in the day, it was a great training ground for these sort of swings.

Post: #10

If you try to time the market especially in volatile environment like Crypto, you will be on the losing side 99.9% of the time in the long run.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)

However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.

If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.

Post: #11

(01-13-2018 03:18 PM)Blancpain Wrote:  If you try to time the market especially in volatile environment like Crypto, you will be on the losing side 99.9% of the time in the long run.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)

However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.

If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.

Trading stocks is not like trading crypto son. You can't hold on to an ICO forever, release and dump son; hop on to the next ICO.

Post: #12

(01-13-2018 03:18 PM)Blancpain Wrote:  If you try to time the market especially in volatile environment like Crypto, you will be on the losing side 99.9% of the time in the long run.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)

However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.

If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.

I might quibble with you a little bit Blancpain regarding your assertion of don't "day trade" because the concept of "day trading" can be understood in a variety of ways, but I really do agree with your overall framework and specifically with a couple of your points.

First, your assertion that jumping around from coin to coin is likely going to be a loser and also has a decent chance of bringing bad results, is a good concept to keep in mind.

Second, your assertion that there are ways that guys can consider crypto as an investment seems to be a solid one, as well - even though I have seen a large number of others (who I believe are wrong) attempting to simplify the whole concept of crypto into a kind of "speculative" asset with the implication that crypto doesn't have fundamentals. In terms of the concept of investment, there is no one way to structure your investment into crypto that is necessarily going to be right for everyone, even though some ways of structuring will end up being more profitable than others (and then some would seemingly fallaciously argue that those ways were more right merely because they ended up being more financially profitable) . Yet, in the end, there are a large number of ways that guys can structure their "crypto investment", including if their structure includes a kind of day trading that fits their personal circumstances, views, timeline and risk tolerance, and also including concepts of hedging (which is a kind of downside insurance and cross asset insurance). Sometimes such investing into crypto will include frequent reallocations and even a kind of day trading - without necessarily getting caught into a kind of downward spiraling of chasing coins around, which gets back to the problematic nature of the other strong point that you made, don't chase coins .

Post: #13

Imo crypto is too new to really accurately describe what 'long term hold' really is. For me there are some solid projects I like so I'll hold them for the year or possible more, barring a black swan event.

I'll also flip and chase the hot new thing. REQ for example is currently like a ~6-7x for me, but I'm still massively invested. If I can get into an ICO that does a quick 10x or more in a few months, I'll prob cash that out unless it seems solid.

It depends on your judgement of the opportunity. If you feel that the money is better invested elsewhere, then holding could have a negative effect.

Lots of approaches have merit, my post above is really to address mostly day to day or even weekly fluctuations and urge rationality and non-emotional decisions. The past week we've seen 30% or more fluctuations in the alt market and bleeding. No big deal.

Also trading in and out will have tax consequences if you're in the US.

Post: #14

(01-13-2018 04:06 PM)JayJuanGee Wrote:  

(01-13-2018 03:18 PM)Blancpain Wrote:  If you try to time the market especially in volatile environment like Crypto, you will be on the losing side 99.9% of the time in the long run.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)

However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.

If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.

I might quibble with you a little bit Blancpain regarding your assertion of don't "day trade" because the concept of "day trading" can be understood in a variety of ways, but I really do agree with your overall framework and specifically with a couple of your points.

First, your assertion that jumping around from coin to coin is likely going to be a loser and also has a decent chance of bringing bad results, is a good concept to keep in mind.

Second, your assertion that there are ways that guys can consider crypto as an investment seems to be a solid one, as well - even though I have seen a large number of others (who I believe are wrong) attempting to simplify the whole concept of crypto into a kind of "speculative" asset with the implication that crypto doesn't have fundamentals. In terms of the concept of investment, there is no one way to structure your investment into crypto that is necessarily going to be right for everyone, even though some ways of structuring will end up being more profitable than others (and then some would seemingly fallaciously argue that those ways were more right merely because they ended up being more financially profitable) . Yet, in the end, there are a large number of ways that guys can structure their "crypto investment", including if their structure includes a kind of day trading that fits their personal circumstances, views, timeline and risk tolerance, and also including concepts of hedging (which is a kind of downside insurance and cross asset insurance). Sometimes such investing into crypto will include frequent reallocations and even a kind of day trading - without necessarily getting caught into a kind of downward spiraling of chasing coins around, which gets back to the problematic nature of the other strong point that you made, don't chase coins .

It's ok to day trade with maybe 1-2% of your portfolio to kill time, you should treat at as a hobby rather than a job.

Let me put it in a more simpler way, you only need to get lucky once if you want to make money investing (Buy and hold)

To lose, you only have to get unlucky once by day trading.

A well diversified portfolio of say 5 decent crypto will most likely make you money if there is a great bull market for cryptos. However with day trading, its possible to lose money even in a bull market.

If trading was so easy, nearly everyone would be rich trading penny stocks. I think alts in cryptos are the equivalent to penny stocks in the stock market.

Anyway, sticking to traditional investment methods is your best bet IMHO. Diversification,Diversification, Diversification.

Imagine two scenarios, one guy has all his money in ETH, while the other diversified into BTH,ETH,XRP,MNR,LTC

Lets imagine we are the dude #1 holding ETH, while ETH was 300$ you witnessed Bitcoin jump to 19k from 4k

You are like, fuuuck I should have bought BTC, then your pscyhology gets messed up , you start reading reddit, people are saying BTC will hit 100k before 2019, so you sell your eth position and move your money to BTC. What happens this time? BTC drops to 13k, ETH goes up to 1.5k.

You go haywire and go on tilt mode, this time you are taking more risks because thats the way psychology works. You start putting money into coin of the days etc, take more risks. We know what the end result of this is.


But what if you were the second guy and had positions in BTC, and ETH,MNR at the same time? Your portfolio would be more stable, you would sleep easier at night, and price fluctutiations would affect you less.

Never put all your eggs in one basket

My 2 cents.

Post: #15

I was carrying XRB bags. Finally had enough of it deflating this morning and sold it for less than 2X. Put it back into VEN just in time for the big pump. Yay, bags!

Post: #16

Buy low into the FUD. Hodl some. Sell high some. Diversify. In general, do the opposite of what is trending if that trend has lasted at least a few weeks.

Read the news.

I think bch is a solid bet vs btc the next six months however when btc gets its act together I think it would be a good time to trade that bch back into btc.

Post: #17

I didn't realize 5 coins is considered well diversified. I'm invested in about 30 different coins, some I'm more heavily invested but every single coin has potential. Started last month and nearly tripled my portfolio. I usually just take profits from one coins as it's reaching it's ATH and move a majority of it into a coin that's been consolidating. Hard to do these past few days since the whole market has been red.

Post: #18

REQ, ICX, and XRB, but none of em are really bags. They're all down the past week but expecting big things in the coming month for all 3

Post: #19

Here's what the Ethereum 'bag' looked like at about the same point last year.

Post: #20

I've checked the posts here and non of these bags are what I would consider bad coins to hold on to. The closest to a baghold coin might have been BAT but even this had mooned considerably since it's days hovering around15-24¢.

If you want to get rid of your bags. Just get into a presale of a good ICO. Then market sell your bags into ETH and jump in. In today's ico market you are more than likely to 3-4x your bag holds within days and move on.

Post: #21

Just wanted to share this gem:





Also, I'm now red on PASC, my only red position. I'm hodling this bitch until it turns green. No turnback niggaz!