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bzparkes said:
Taking profits is actually one of the hardest things, as stupid as it sounds. When your coins are pumping you start to get greedy and emotion takes over. The most successful traders have a plan and they stick to it. Too many people think their coin is going to the moon but then more experienced people take profits and it dumps, meanwhile the bag holders are convinced it's a 'healthy correction' and the price never recovers. I've fallen into this trap a number of times myself and it took some time to get over. Missed out on some big gains early on. Still made profit but it could've been a hell of a lot bigger.

Lesson learnt though.
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I agree 100% and it's something I've struggled with. I had an ok amount of FTM when it almost hit $2 a few weeks back, and it skyrocketed to be the largest coin, by value, in my portfolio. I didn't take profits there... I thought about it but wondered what do I give up if it keeps going. It was an x8 since my first buy and I'd added little amounts on the way up. I ended up taking small profite on the way back down around $1.60 and really made me feel dumb.

Same with Coti over the weekend, though I did take 1/3 profit at the top on this one, but then wondered all the way back if I had've taken more. Then again, Coti may not be a bad coin to be holding in the next few months.
 
The Dice Man said:
I agree 100% and it's something I've struggled with. I had an ok amount of FTM when it almost hit $2 a few weeks back, and it skyrocketed to be the largest coin, by value, in my portfolio. I didn't take profits there... I thought about it but wondered what do I give up if it keeps going. It was an x8 since my first buy and I'd added little amounts on the way up. I ended up taking small profite on the way back down around $1.60 and really made me feel dumb.

Same with Coti over the weekend, though I did take 1/3 profit at the top on this one, but then wondered all the way back if I had've taken more. Then again, Coti may not be a bad coin to be holding in the next few months.
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Have your targets, and execute. I sleep a lot sounder through the market ups and downs. I may be more conservative than most, though.

What's the point in unrealised profit?
 
The Dice Man said:
I agree 100% and it's something I've struggled with. I had an ok amount of FTM when it almost hit $2 a few weeks back, and it skyrocketed to be the largest coin, by value, in my portfolio. I didn't take profits there... I thought about it but wondered what do I give up if it keeps going. It was an x8 since my first buy and I'd added little amounts on the way up. I ended up taking small profite on the way back down around $1.60 and really made me feel dumb.

Same with Coti over the weekend, though I did take 1/3 profit at the top on this one, but then wondered all the way back if I had've taken more. Then again, Coti may not be a bad coin to be holding in the next few months.
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I remember Jason Pizzini in one of his videos talks about this. it was at a point where he was holding Doge, of all things, for a number of years and it went on to do an 80x. He said he considered that it could go up more but that what would he be more sad about; that he missed out on even larger profits, or that he didn't take the 80x and watched his profits plummet?

He ended up cashing out at 80x. It went on to do 200x from where he bought in but he said he had no regrets over the decision, because you simply don't know where the market's going to go. Being too greedy will be your downfall long term and you end up turning significant gains into significant losses. Been there, done that. Never again.
 

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bzparkes said:
I remember Jason Pizzini in one of his videos talks about this. it was at a point where he was holding Doge, of all things, for a number of years and it went on to do an 80x. He said he considered that it could go up more but that what would he be more sad about; that he missed out on even larger profits, or that he didn't take the 80x and watched his profits plummet?

He ended up cashing out at 80x. It went on to do 200x from where he bought in but he said he had no regrets over the decision, because you simply don't know where the market's going to go. Being too greedy will be your downfall long term and you end up turning significant gains into significant losses. Been there, done that. Never again.
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It's a good point he makes. You should be happy with the profit gained, rather than all potential profits lost or unrealised. If I make 100% on a coin I'm not planning on holding forever, or even 50%, that's a win I can turn into something new.
 
The Dice Man said:
It's a good point he makes. You should be happy with the profit gained, rather than all potential profits lost or unrealised. If I make 100% on a coin I'm not planning on holding forever, or even 50%, that's a win I can turn into something new.
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Yep, it's what people do though. They buy into a new coin(usually too high), get all hyped because it's still pumping, then all the smart traders start selling and the bag holder are left with nothing but 'hodl' and 'diamond hands' mems in their respective TG's until they finally realise the project's dead in a few months so they sell at a significant loss.

Don't get me wrong, holding long-term is good but only if a project has a real-world use case, publicly known team (KYC, Doxxed), and potential for growth.

Good examples in the shitcoin space are GMR.finance and, of course, SafeMoon. GMR's gone from nearly 400m MC to 20m MC because it had no product and the hype died, ditto with SafeMoon. it's gone from 7b MC to just under 1b. It's never going back to the top, no matter what the bagholders/fanboys believe.

I've learnt to know when to cut my losses now, or when it's either too late, or a bad time to enter. It's taken some losses to realise this, that's for sure.
 
The Dice Man said:
I agree 100% and it's something I've struggled with. I had an ok amount of FTM when it almost hit $2 a few weeks back, and it skyrocketed to be the largest coin, by value, in my portfolio. I didn't take profits there... I thought about it but wondered what do I give up if it keeps going. It was an x8 since my first buy and I'd added little amounts on the way up. I ended up taking small profite on the way back down around $1.60 and really made me feel dumb.

Same with Coti over the weekend, though I did take 1/3 profit at the top on this one, but then wondered all the way back if I had've taken more. Then again, Coti may not be a bad coin to be holding in the next few months.
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You shouldn't feel dumb for that. You did well. If you buy at 0.25c then it peaks at $2.00 and you sell at $1.60, you've pretty much captured 80% of the maximum price pump. That's really good. Imagine you sold at $1.00 after a 4x. You'd probably feel good about yourself at the time but then you'd feel sick after seeing it pump to $2.00.

You're never going to time the top exactly. Key thing is to avoid mistakes that wipe out large amounts of your capital, as opposed to striving for perfection.
 
LongBombFromOutside50 said:
You shouldn't feel dumb for that. You did well. If you buy at 0.25c then it peaks at $2.00 and you sell at $1.60, you've pretty much captured 80% of the maximum price pump. That's really good. Imagine you sold at $1.00 after a 4x. You'd probably feel good about yourself at the time but then you'd feel sick after seeing it pump to $2.00.

You're never going to time the top exactly. Key thing is to avoid mistakes that wipe out large amounts of your capital, as opposed to striving for perfection.
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Good advice again, and thank you. I felt dumb just watching it dribble away I guess, but it's a feeling everyone here has probably had. I'm getting better at reading indicators and not buying pumps, instead looking for something that indicates it's a good chance. Coti was already forming a perfect cup and handle pattern and the rumours early last week made it an obvious choice to have a dip.
 
The Dice Man said:
Good advice again, and thank you. I felt dumb just watching it dribble away I guess, but it's a feeling everyone here has probably had. I'm getting better at reading indicators and not buying pumps, instead looking for something that indicates it's a good chance. Coti was already forming a perfect cup and handle pattern and the rumours early last week made it an obvious choice to have a dip.
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Got a buy order for COTI at 0.65c...is that a decent buy in price?
 
LennyHayes77 said:
Got a buy order for COTI at 0.65c...is that a decent buy in price?
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It's at 51c now. But bouncing around it's 48-49c support area, if it loses that it may drop back to low .30s. There's maybe more news coming on Wednesday about Coti/ADA/NFTs.

I can't tell you but there was a lot of selling when it broke through it's previous ATH, hopefully crashing that resistance wall for the next climb.
 
The Dice Man said:
It's at 51c now. But bouncing around it's 48-49c support area, if it loses that it may drop back to low .30s. There's maybe more news coming on Wednesday about Coti/ADA/NFTs.

I can't tell you but there was a lot of selling when it broke through it's previous ATH, hopefully crashing that resistance wall for the next climb.
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Ah you're going by US dollar's, took me a second because its at 0.71c AUD. Yeah we'll see, I'm happy to buy in at my current order price but happy to hold for a while through any more corrections
 
BTC appears to be trading in a range of about 38-45k and ETH 2800-3200 since the flash crashes in early September. Volume is still decent, but volatility has dropped off the last couple of days. Hard to get a gauge what happens as the monthly close approaches, but my best guess would be that prices remain range bound and sideways until Q4.
 
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ash_1050 said:
If you've made less than a 20% profit on your crypto portfolio since June, then you're being beaten by a savvy crypto trading hamster.

What if we told you there was a hamster who has been trading cryptocurrencies since June — and recently was doing better than Warren Buffett and the S&P 500? Meet Mr. Goxx, a hamster who works out of what is possibly the most high-tech hamster cage in existence.

It's designed so that when Mr. Goxx runs on the hamster wheel, he can select among dozens of cryptocurrencies. Then, deciding between two tunnels, he chooses whether to buy or sell. According to the Twitch account for the hamster, his decision is sent over to a real trading platform — and yes, real money is involved.

Look, we're not telling you to follow in this hamster's financial decisions or that this process is scientific in any way. The human behind this hamster's account and money has not been made public. But what we can tell you is his portfolio is up nearly 20% since he started trading in June, according to his Twitter account. And as of Sept. 12, Mr. Goxx was performing better than Bitcoin, the Nasdaq 100, Warren Buffett's Berkshire Hathaway and the S&P 500.

While Mr. Goxx's methodology is random at best, it does remind us that where people get their financial advice from is certainly changing. We've seen people getting tips from TikTok and from two kids in Baltimore.

As I said the other day, everyone makes money in a bull market, even a hamster.
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Some people trade crypto according to moon cycles. They're probably doing better than me.

moon cycles.png
 
According to my TA, price moves between ranges. Over 53k, moon. Under that, my lines point out the ranges we're playing. We're at the lower end of the range, so there's a chance we bounce.

My overall bias is to the downside.


BTCUSD_2021-09-29_21-18-07.png
 
Evolved1 said:
According to my TA, price moves between ranges. Over 53k, moon. Under that, my lines point out the ranges we're playing. We're at the lower end of the range, so there's a chance we bounce.

My overall bias is to the downside.


View attachment 1249272
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I’m still bull but am suspicious. Important few months coming up. Either way.
 
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