Fear of missing out

wallstreetwarrior87 said:
Me neither - quite happy with 50 lovely British pence - all closed (for now). ROI ? Well £6530 meant no worrying about margin needed, leverage dont bother me for these plays, the key is not shiiiting oneself, hence no stop, + 21% will do for Xmas.

Willing to do more if we dive lower again, and fund the account accordingly.

This was done in 2 days, which is not the norm, but then again this market is not the norm, adapt as needed.

BTW it is unlikely that this is the end of a bitcoin run, we only listed on the CME etc last week. The most likely scenario is that holders of "physical coins" were hedging in the futures market. So back to holding physical, and reducing exposure in the futures. Dont make it too complicated.

Merry Xmas all and a prosperous 2018!!
Click to expand...

Lovely example of scalping the volatility. Nice trade.

Most aspiring traders fear volatility as they only ever associate it with the risk side of the equation. They would rather die the death of a thousand cuts than face the demon head on and they kid themselves that they are learning something useful from this slow death approach.

To add to your comments re the futures going live. I don't think smart money was ever going to pay top dollar in BTC just to get a slice of the action, therefore loading the short boat, forcing the price down in order to get better value plus it now gives them price chart reference points (levels) to work with.

What better time to shake out weak hands before the massive run up in 2018 where more and more smart money will get involved!

M xmas.
 
counter_violent said:
Lovely example of scalping the volatility. Nice trade.

Most aspiring traders fear volatility as they only ever associate it with the risk side of the equation. They would rather die the death of a thousand cuts than face the demon head on and they kid themselves that they are learning something useful from this slow death approach.

To add to your comments re the futures going live. I don't think smart money was ever going to pay top dollar in BTC just to get a slice of the action, therefore loading the short boat, forcing the price down in order to get better value plus it now gives them price chart reference points (levels) to work with.

What better time to shake out weak hands before the massive run up in 2018 where more and more smart money will get involved!

M xmas.
Click to expand...

The statement in bold I have a problem with "Lovely example of scalping the volatility. Nice trade" Apparently you're supposed to be a experienced trader (again I use the word loosely here) and are championing the fact the gambler you were replying to did not use a stop loss in the most volatile market we presently have. Badly done.
 
wotzit said:
Who is "we"? I have never come cross a more deluded bunch of people (cult?) than current cr@pcoin holders - oh wait a minute, maybe I have in the DotCom boom, then the telecoms in the early 2000 years....
Click to expand...

Dotcom scenario soon but not yet, let's see the next few months.
 
counter_violent said:
Lovely example of scalping the volatility. Nice trade.

Most aspiring traders fear volatility as they only ever associate it with the risk side of the equation. They would rather die the death of a thousand cuts than face the demon head on and they kid themselves that they are learning something useful from this slow death approach.

To add to your comments re the futures going live. I don't think smart money was ever going to pay top dollar in BTC just to get a slice of the action, therefore loading the short boat, forcing the price down in order to get better value plus it now gives them price chart reference points (levels) to work with.

What better time to shake out weak hands before the massive run up in 2018 where more and more smart money will get involved!

M xmas.
Click to expand...

CV this is my take also, more to come, greater rates of price acceleration etc. Accept volatility for what it is and make the most of the opportunity.

Merry Xmas too!
 
wotzit said:
The statement in bold I have a problem with "Lovely example of scalping the volatility. Nice trade" Apparently you're supposed to be a experienced trader (again I use the word loosely here) and are championing the fact the gambler you were replying to did not use a stop loss in the most volatile market we presently have. Badly done.
Click to expand...

No need for a stop as the position was fully funded, so no silly stop outs due to adverse price shake outs. If you re-read what I said; for this type of trade I play it like this. For my day trading I always use a stop, so yes you were right to point that out as a generalisation, but for this style a stop is asking for trouble IHMO.

I see 2 more decent long opportunities going forward then that will be me done in this market.

Gambler is a label, nothing is certain, experience tells me this is an opportunity, time will tell if this experience is of any value.
 
darktone said:
Dam right. Best to be supplying liquidity in any market imo. x10 In something as up n downy as bitcoin, otherwise wholl be there to help to poor wotzits out when its time to hoof up them stops :sick::sick::sick::D
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Been trading for over 16 years, initial 8 years in Prop - nothing poor about this Wotzit.
 
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Ripple moving nicely, I just read that someone bought $450million worth. Should have got in at 25cents dammit - I’m to scared to send these random exchanges that are based in Slovenia, Ecuador or Luxembourg photos of my ID to make an account.

I have an unverified account with Bitstamp, can I trust them?
 
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Can't even open accounts at most places now... there must be literally millions of people and billions of dollars lining up to get involved in cryptos
 
With the Bitcoin revolution exploding like a supernova, the world is full of people with regrets. I was one of them, but since then I've been following the crypto world experiencing fear of missing out FOMO.
 
So who's shorting Bitcoin right now?
Could the drop after the Bull Trap be imminent?

~Munches popcorn
 
How does one start a new coin ?
I see Ripple's founder is now $37 billion richer !
 
Pat494 said:
How does one start a new coin ?
I see Ripple's founder is now $37 billion richer !
Click to expand...

in Ripple's case, there isn't even an algorithm or mining. You simply generate a bunch of coins and sell them.
 
FXX said:
in Ripple's case, there isn't even an algorithm or mining. You simply generate a bunch of coins and sell them.
Click to expand...

By " generate " do you mean get someone to manufacture each coin on a coin making machine ?
 
Pat494 said:
By " generate " do you mean get someone to manufacture each coin on a coin making machine ?
Click to expand...

Each coin will have a unique ID and metadata to identify and verify it. All they do to generate this stuff is run code that loops from 1 -> whatever number they want to generate. On each iteration they call functions that generates a unique ID and adds metadata and then encrypts that information. They then store each object (coin) in a database and then they can sell the coins associating the IDs with the account that purchased it. I could do the same with a few hours work. Then it's just a case of marketing your new coin and having a portal where people can login to deal them.
 
FXX said:
Each coin will have a unique ID and metadata to identify and verify it. All they do to generate this stuff is run code that loops from 1 -> whatever number they want to generate. On each iteration they call functions that generates a unique ID and adds metadata and then encrypts that information. They then store each object (coin) in a database and then they can sell the coins associating the IDs with the account that purchased it. I could do the same with a few hours work. Then it's just a case of marketing your new coin and having a portal where people can login to deal them.
Click to expand...

A bit beyond my expertise.
 
FXX said:
Each coin will have a unique ID and metadata to identify and verify it. All they do to generate this stuff is run code that loops from 1 -> whatever number they want to generate. On each iteration they call functions that generates a unique ID and adds metadata and then encrypts that information. They then store each object (coin) in a database and then they can sell the coins associating the IDs with the account that purchased it. I could do the same with a few hours work. Then it's just a case of marketing your new coin and having a portal where people can login to deal them.
Click to expand...

Provided no one turns the electricity off. At least government backed bank notes have "I promise to pay the bearer" on them.

( Kinell -nearly got crushed by the rush of lemmings en route to the cliff edge.)
 
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