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Reasons why you should NOT trade cryptocurrencies

togr (togr)
Oct 11 2018 at 08:07
4862 posts
snapdragon1970 posted:
There will be opportunities in both directions ,I never rule out that possibility,charts can tell a lot but it only takes some positive data/news to flip direction.

@Kieran I like your motto

BluePanther (BluePanther)
Oct 11 2018 at 14:52
1344 posts
Pipperidge posted:
togr posted:
BluePanther posted:
snapdragon1970 posted:
Weekly chart don't look good for BTC ,I'll sit on the side line till it breaks much lower.


SELL BTC!!! It will only go down! 😎


The expectations are quite opposite.
https://cryptodaily.co.uk/2018/08/why-bitcoin-btc-might-still-hit-60000-by-july-2019/

On top of that:
https://www.ccn.com/breaking-worlds-biggest-stock-exchange-operator-is-launching-a-bitcoin-market/
https://finance.yahoo.com/news/yale-university-invested-two-cryptocurrency-122602108.html

Bitcoin and cryptos are here to stay. Where the prices will go - we'll have to wait and see. But the way I see it in the longterm - it will only go up.


You HODLer. 😀
'Everything' goes up - it's called INFLATION. 😝

TiffanyK (TiffanyK)
Oct 11 2018 at 14:55
427 posts
BluePanther posted:
You HODLer. 😀
'Everything' goes up - it's called INFLATION. 😝


Can you blame him?
I'd HODL some too.
Just enough that it doesn't hurt much if/when it crashes.
And at the same to a good enough number so that it can bring in a handsome profit if it ever blows up like it did last December.

Accept the loss as experience
BluePanther (BluePanther)
Oct 12 2018 at 05:52
1344 posts
TiffanyK posted:
Can you blame him?
I'd HODL some too.
Just enough that it doesn't hurt much if/when it crashes.
And at the same to a good enough number so that it can bring in a handsome profit if it ever blows up like it did last December.


1. 'I [would] HODL some too.' Do you HODL or not? You either DO or you DON'T.
2. Fine if you HODL, but don't be an investor that 'diversifies':

“Wide diversification is only required when investors do not understand what they are doing.”
- Warren Buffet

'The most successful investors don't diversify. Rather, they FOCUS and specialize. They get to know the investment category they invest in and how the business works better than anyone else.'
- Robert Kiyosaki

https://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/July-2016/Why-Diversification-is-Bad-Investment-Advice.aspx

snapdragon1970 (snapdragon1970)
Oct 12 2018 at 12:11
1944 posts
togr posted:
snapdragon1970 posted:
There will be opportunities in both directions ,I never rule out that possibility,charts can tell a lot but it only takes some positive data/news to flip direction.

@Kieran I like your motto


Cheers, I see you have lots of work on different accounts, that's what I call good learning.

"They mistook leverage with genius".
jamesgwyther
Oct 12 2018 at 16:39
289 posts
BluePanther posted:
TiffanyK posted:
Can you blame him?
I'd HODL some too.
Just enough that it doesn't hurt much if/when it crashes.
And at the same to a good enough number so that it can bring in a handsome profit if it ever blows up like it did last December.


1. 'I [would] HODL some too.' Do you HODL or not? You either DO or you DON'T.
2. Fine if you HODL, but don't be an investor that 'diversifies':

“Wide diversification is only required when investors do not understand what they are doing.”
- Warren Buffet

'The most successful investors don't diversify. Rather, they FOCUS and specialize. They get to know the investment category they invest in and how the business works better than anyone else.'
- Robert Kiyosaki

https://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/July-2016/Why-Diversification-is-Bad-Investment-Advice.aspx


Surely spreading your risk is a good idea though?

BluePanther (BluePanther)
Oct 14 2018 at 06:47
1344 posts
jamesgwyther posted:
Surely spreading your risk is a good idea though?


Results speak for themselves. Conventional advice recommends spreading risk: ergo the lack-luster results most people.

tradeFX4btc
Oct 14 2018 at 10:00
140 posts
I don't see any issue with trading crypto currencies that have a fixed supply. It's better long term(store of value) than holding fiat that slowly inflates.

Adribaasmet
Oct 21 2018 at 07:05
933 posts
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

RichPort
Oct 23 2018 at 11:06
9 posts
I theory that makes sense but crypto is not a mature market. It is stull developing. It could be banned or regulated or there could be some huge theft of funds that drives away investors. These things could all mean that crypto like Bitcoin could go from $6000 to $0

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