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Reasons why you should NOT trade cryptocurrencies

jamesgwyther
Nov 28 2018 at 12:45
289 posts
BluePanther posted:
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


So go back to last year and buy some BTC.
I live in the real world and can't time travel.


ah if only we could lol

vontogr (togr)
Nov 28 2018 at 12:47
4862 posts
BluePanther posted:
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


Is this your point?
Your post would be better suited to the following thread:
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

This thread is titled 'Reasons why you should NOT trade cryptocurrencies', and aims to 'share important information (especially th risks) related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this [emerging] market'.

Thank you for your contribution.

I was replying to your sentence.
...Gonna be awkward seeing relatives again this holiday season if you convinced them to buy crypto last year...
The point is if you bought BTC last year for 1,000 and sell today for 4,000 you still make 300% profit.
Do not try to make my answers reply to something else.

AmDiab
Nov 28 2018 at 13:57
718 posts
PinUpGal posted:
BluePanther posted:
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


So go back to last year and buy some BTC.
I live in the real world and can't time travel.



Very good point. BTC is just risky as hell. It is perfect for hindsight traders but trading it in real time is totally different


I gauss the price should be stable around 1.5-2K USD in near future.

Matt (BluePanther)
Nov 28 2018 at 14:34
1354 posts
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder


togr posted:
Well BTC is still 4 times the value compared to MAR 2017


togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.


togr posted:
And it gather 20,000% since its low :)


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


I only see circular logic here: 'BTC will recover its losses because it has done so in the past.'

Ever heard the disclaimer: 'Past performance is no guarantee of future performance'?
Or consider why martingales always fail.

Markets do not follow such a creed, and BTC is no different.

vontogr (togr)
Nov 28 2018 at 14:35
4862 posts
BluePanther posted:
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder


togr posted:
Well BTC is still 4 times the value compared to MAR 2017


togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.


togr posted:
And it gather 20,000% since its low :)


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


I only see circular logic here: 'BTC will recover its losses because it has done so in the past.'

Ever heard the disclaimer: 'Past performance is no guarantee of future performance'?
Or consider why martingales always fail.

Markets do not follow such a creed, and BTC is no different.

Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.

Matt (BluePanther)
Nov 28 2018 at 14:35
1354 posts
togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.


That is what I said in the beginning:

BluePanther posted:
As with any ponzi scheme (BitCoin, ICO, or HYIP) the gains are only good in the beginning - but take your money and run before you get 'left holding the bag'.


It 'seemed' you were saying something different.
Glad we have come to a mutual understanding.

kieran (snapdragon1970)
Nov 28 2018 at 18:29
1945 posts
Hannibal55 posted:
Is 200 MA really that important? I have tried adding it to my charts and I never really see any resistance around it. That is for Forex not crypto though

It depends what it does around that level ,say it spiked through it 50 pips, that could be a sign of reversal ,other factors need to be considered with it.

"They mistook leverage with genius".
Matt (BluePanther)
Nov 29 2018 at 09:20
1354 posts
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder


togr posted:
Well BTC is still 4 times the value compared to MAR 2017


togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.


togr posted:
And it gather 20,000% since its low :)


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


togr posted:
I was replying to your sentence.
...Gonna be awkward seeing relatives again this holiday season if you convinced them to buy crypto last year...
The point is if you bought BTC last year for 1,000 and sell today for 4,000 you still make 300% profit.
Do not try to make my answers reply to something else.


togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.


Forgive me for thinking you were saying something else.
I am a literal person and interpreted you as saying: 'don't jump ship' (ie. keep HODLing)

I am saying: take the profits (losses) before you get 'left holding the bag': https://en.m.wikipedia.org/wiki/Bagholder
(ie. before BTC / ETH / etc. become worthless - can I say such a 'profanity'?)

Each trader to their own perspective.

Paquito
Nov 29 2018 at 13:51
8 posts
Already got a strong bounce from BTC up $1000 in a couple of days. Could be the start of a rally up to $20,000 again.

vontogr (togr)
Nov 29 2018 at 14:17
4862 posts
BluePanther posted:
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder


togr posted:
Well BTC is still 4 times the value compared to MAR 2017


togr posted:
You do not get it.
BTC has lost value this way more times and it always end up much stronger.


togr posted:
And it gather 20,000% since its low :)


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


togr posted:
I was replying to your sentence.
...Gonna be awkward seeing relatives again this holiday season if you convinced them to buy crypto last year...
The point is if you bought BTC last year for 1,000 and sell today for 4,000 you still make 300% profit.
Do not try to make my answers reply to something else.


togr posted:
Nope.
My point is that even BTCUSD drops to 4,000 you still make money if you buy it cheaper.
Whatever.


Forgive me for thinking you were saying something else.
I am a literal person and interpreted you as saying: 'don't jump ship' (ie. keep HODLing)

I am saying: take the profits (losses) before you get 'left holding the bag': https://en.m.wikipedia.org/wiki/Bagholder
(ie. before BTC / ETH / etc. become worthless - can I say such a 'profanity'?)

Each trader to their own perspective.


Once again - my last comment.
BTCUSD is at $4,000.
What does it mean? If you
bought at $20,000 and sold today you lost a lot.
bought at 1,000 and sold today you make a lot.
If you are holder than hodl.

Imagine selling it at 20,000 and buying e.g. XRP. That could make a lot of profit. yeah time machine - but that does apply even to physical asset like gold.
If you bought GOLD for 1,200 at JAN 2017 and sell today you get zero profit or loss:)
All assets price is changing. EUR drop a lot of value as well.
It is up to you to make profit at the end. Or accept small loss.

Check this out BTW

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