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RE: 12/8/2017 The Market View and Trading Outlook
Dude, you're already right... LTC ran up to $125 on Bittrex about 30 minutes ago and is now bouncing around the $120 mark.
Dude, you're already right... LTC ran up to $125 on Bittrex about 30 minutes ago and is now bouncing around the $120 mark.
I jumped ship at $133... I'll bank the cash and see if another opportunity presents itself. Maybe after the next hourly time frame or so.. I was a bit worried last night with Bitcoin going all over the place. Regardless it puts me up $12,000+ for the week and I never bought a single Bitcoin. I thought about playing the volatility and selling into BTC at I think $ 15,300 around midnight last night, for a short term gain, but I just didn't feel good about the trade. Would not have been able to sleep good on that trade. So I hung on to my LTC as the charts were telling me too..
Not a bad weekly wage at all there. You killed it in LTC today... Bittrex never even saw $133, the highest was $129.25... obviously a psychological level at $130 there.
Man, I really have to spend time learning the charts and all the indicators. The difference between a smart sensible trader and a long-term holder seems to be in the hundreds of percent range... and of course, lately, both have been smashing non-investors. So that's my silver lining.
Yeah it actually topped at $144 on GDAX.. but it looked to be running out of steam earlier, and when it runs up like that as did BTC yesterday, there is going to be a major snap the other direction.. I got out plenty early and lost nothing.
I tried to log into GDAX today and they don't want to know me because I've been driving around on my Aussie licence for 2 years... now I'm motivated to get my Oregon state licence!
LOL, they can't recognize the Aussie license?
They don't care to... because it doesn't prove my address in Oregon. Jerks.
Well that sucks, time to join the rank and file, submit to the man and go in another database to get a license.
I know... I haven't worried about it until now because I hate submitting to the man... but yeah, need to be a good boy.
I was just thinking how many people got fucked twice in the last two days.. BTC yesterday 20k to 15 drop, LTC today 144 to 121 drop.. to have played both of those wrong could be better than 50 percent down.. start with 10k yesterday have $4800 today.. The market can eat people.
I was watching the chat in TradingView and one guy was saying he started this month with $15k, got up to 30k and is now down to 10k... and that really made me think of your statement before about for you or me to win, someone else has to lose. The market is a bastard. An exciting, amazing, dickhead bastard.
Yeah it can and will do that and do it quickly, that is the difference between paper profits and real profits.. Gotta sell and lock it in, profits.. losing sucks, it hurts, its fucking shitty.. I have been there, and ugghh.. its just a feeling I don't like man, watching real money vanish into space.. it sucks.. That is why I get called a conservative trader.. which IDK, I don't think anyone who trades crypto is conservative.. but I pick my trades carefully.. and cut losses quickly.. Ride the winners, cut the losers.. new traders to the opposite sometimes, especially if they have been getting beaten up.. they are so afraid to lose more or own the loss, that they will ride it into the dirt on the hopes it comes back up, likewise if it does go up, they are waiting for it to go south and sell before letting it top.. So many pitfalls and traps to it.. I get caught sometimes. .Not recently, but I'll be more than happy to share when I do.. I can promise you this I will never lose more than 5 percent of my original investment on one trade.. past 5 percent I'm out.. 100 percent of the time, no ifs not ands no exceptions, that is a hard rule for me, but playing it that close depends on choosing good places to buy in..I can also tell you that I will never go in more than 50 percent of my capital on one trade.. never.. I may add if its going my way, but I will never go ALL IN out that gate on anything.. Rules man, gotta follow the rules or you get hurt.. badly..
Oh I forgot when your back in the chats, tell him I have his 5k over here.. I'll meet him on GDAX in the LTC market and we can trade for it..