I fucked up with crypto

[FourCrossedWands]

The problem is that some of you are convinced you cannot lose in this game. You make trades with 10x leverage and hope for the best, with money you don't even own. It's only matter of time you will lose. There is no other way around it. You are walking on thin ice.

[StarStruck]

The final drop is happening... and I have my dick tied to my back

[josemar]

18 minutes ago, FourCrossedWands said:

The problem is that some of you are convinced you cannot lose in this game. You make trades with 10x leverage and hope for the best, with money you don't even own. It's only matter of time you will lose. There is no other way around it. You are walking on thin ice.

If you use proper risk management ( first lesson in any good trading course), when you lose a trade, you risk max 1% of your account. When you win, you win between 1% and ... 30%+ of your account. With proper TA, my current trade win rate is 80% plus. 

Leverage? Lesson 2 in any good trading course is that leverage doesn't matter, it's position size that matters. In fact, on all exchanges I'm trading on, you can change leverage AFTER you open the position, and nothing changes, except liquidation price. Ideally you have a stop loss before liquidation is reached.

Leverage can be used for gambling, sure, by newbies, not proper traders, same as a knife can be used for cooking food or killing someone.

So please stop painting everybody that trades and/or invests in crypto with the same ignorant brush.

OP is hopefully learning from his mistakes, and it seems he got a cheap lesson, didn't lose all his money like it's very easy to do, and starts learning proper trading, with risk management, non emotional trading, and TA.

[josemar]

28 minutes ago, StarStruck said:

The final drop is happening... and I have my dick tied to my back

I know you're emotional right now, but this is exactly the mindset that got you in trouble in the first place, trading with your emotions.

Nobody knows if this is the final drop, or we go lower to less than 32k. Predicting the future price is folly, and can be called "catching a falling knife". You can get lucky and buy the exact bottom, but chances are you won't. Even if you do, your trading psychology will get you rekt, even if you get lucky once or twice.

What we do instead is follow market structure, support/resistance levels and lots of other things, basically technical analysis, and only enter trades *non emotionally attached* when we have confluences between levels, indicators etc.

If you risk 1% of your account per trade, it helps a lot with the non emotional part. If you get emotional, it means you're risking too much. In the beginning and while learning you can open very small positions, $1-$10 so you're 'involved' but don't care.

[StarStruck]

@josemar Yea I know, but I'm just going to buy spot or 2x at most... If I buy BTC at 35k at 2-3x leverage, the liq price is like 22k which BTC will never drop down too. Most it will drop down to is 30k. But my prediction is 35-38k. Fortune favors the bold but at the same time I can't take big risks.

[josemar]

23 minutes ago, StarStruck said:

which BTC will never drop down too

Well ok, as long as you can see the future, you'll be alright 

I bet you predicted Covid before it happened and the 50% drop from the lows in March 2020 ? And hope the exchange your buying doesn't go down?

What's wrong with spot, and move it out of the exchange to a cold wallet? 

[StarStruck]

@josemar this opportunity is only once every 3-5 years. And I don’t have a big budget like you unfortunately. 

[AerisVahnEphelia]

@josemar if someone toss a coin 50 times.

and get right 30 times right in the first row.

and 100 000 people toss those 50 coins.

Does it make the one who strikes 30 a genius, or a lucky fool ?

this is how the market work nailed for you.
Now there is way to outperform the market, it's to be the one who sell the throwing coins.

Edited January 23 by AerisVahnEphelia

[josemar]

33 minutes ago, StarStruck said:

@josemar this opportunity is only once every 3-5 years. And I don’t have a big budget like you unfortunately. 

Trading opportunities are from multiple times a day to once a year, your choice.

Why do you insist on chasing the absolute bottom? Again, even if you bought at 49k, all you have to do is wait 1 year at the most.

Did you invest all your money at this top??

Normally if you don't care about timing the market, there are various strategies to get in, DCA - dollar cost averaging, where you invest a predefined sum every day/week/month, you'll probably be in profit quite soon and it removes all emotions from the equation.

[josemar]

16 minutes ago, AerisVahnEphelia said:

@josemar if someone toss a coin 50 times.

and get right 30 times right in the first row.

and 100 000 people toss those 50 coins.

Does it make the one who strikes 30 a genius, or a lucky fool ?

this is how the market work nailed for you.
Now there is way to outperform the market, it's to be the one who sell the throwing coins.

Is this how all markets work all the time, pure luck?

Is Warren Buffett just lucky to have made a series of investments that brought him billions?

Was there a 50/50 chance for the Nasdaq to go down as well as up last year?

[josemar]

This is live now, anyone interested in Bitcoin trading  please learn something 

 

 

Edited January 23 by josemar

[Leo Gura]

5 hours ago, OBEler said:

Can you make your next video about insights into stock market?

You discussed a lot of practical topics for self development, especially scams/fraud, starting an online business etc. but how to invest is a new field.

I hope you got personally as good insights into investing in stocks/ cryptos as in the other fields you covered up.

I have a video planned on investing in general, not any particular type of investing.

[OBEler]

7 minutes ago, Leo Gura said:

I have a video planned on investing in general, not any particular type of investing.

That's exactly what I wanted. The big picture 

[Majed]

@Leo Gura and a video on the nazi mind please, seriously. 

[Yimpa]

How To Get Alien Laid - Part X + DEMO

[Leo Gura]

@Yimpa I see you have elected yourself to the role of court jester here.

Edited January 23 by Leo Gura

[OBEler]

1 hour ago, Yimpa said:

How To Get Alien Laid - Part X + DEMO

This course would be too advanced.

For beginners: how to get laid/ having casual sex without drama with daemons in the astral plane

[Leo Gura]

How To Talk To Girl Without Being A Creep is advanced enough for you guys.

[Argonaut]

40 minutes ago, Leo Gura said:

How To Talk To Girl Without Being A Creep is advanced enough for you guys.

Wait I thought creep game was our specialty here... don't women like the whole DMT desert troll vibe? 

[mmKay]

6 hours ago, OBEler said:

This course would be too advanced.

For beginners: how to get laid/ having casual sex without drama with daemons in the astral plane

You just remembered me that time I almost had a foursome with some blue hot astral babes

Little I knew it was a bait only to test my maturity and I ended up shadow banned from the astral realm until I burn through some karma 😔

I fell for the oldest trick in the astral plane

 

Edited January 24 by mmKay