Newbies are Chasing Shiny Objects in Crypto Currency Trading.
8 years ago in #cryptocurrency by hilarski (76)
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LMAOOOOO this made me laugh out loud, Especially when I saw all those kittens.
HAHAHAHA, kids playing soccer. I was once like the person you are describing but I like to think I grew up. Keeping track daily will make your head spin.
Now I just listen to pros and HODL... lol
Thanks for another humorous and intelligent post.
Haha when you said "if you are new to crypto trading, this is for you" this really got my attention! Some great food for thought @hilarski thanks so much for sharing, i think i need to sit down a do a little more research :)
Time to get your first 10X bagger. Then flip into a few more 10X's. That is how you become a whale. ; )
Thank you 💙 Love following yourself and your wife! Talk about relationship goals! Hope you have a great weekend!
How do you find about upcoming projects to invest in them early?
By the time I've heard and want to get in it already feels too late. AntShares for example went crazy earlier in the week. I was tempted to get on board but they're already risen substantially, still had further too go but I always feel like i've just missed the boat
i was just thinking the same about antshares.
Find projects you like and accumulate the tokens when no one is watching. Siacoin is a perfect example of a token that I have been accumulating for a while. I researched the project and liked what I saw. I bought at around $.01 and now it has doubled. I am hoping for a 10X move in the next year. No need to sell when you buy super cheap. Antshares was a good example of a screw up for me. I bought months ago when it was under $1. I sold about 4 weeks ago before the big move and missed out on the 10X move. Patience is key.
I've been eyeing off Sia and Golem. Got a small amount of Golem but after hearing the news about SIA getting ASIC devices yesterday I decided not to invest, what are you thoughts on this? It'll shut most small time miners out of the network due to it no longer being profitable to mine on a cpu/gpu
Although I really like the idea of SIA and I find it hard to believe that the value will continue to increase when it is far cheaper to pay for AWS or other storage. I want to believe though, I keep looking at cheap coins that're under $1 per coin because I don't have much initial capital to invest
I did not know about the Asic miner news. I will have to look into it more.
It hasn't appeared to affect the price in the way I expected. I may be wrong about thinking Sia is over valued.
Good to hear u pros still miss out sometimes, am exactly the guy u described up there reading up trying to findprojects i like. Thanks for your hilarious description of me lol
I got into Antshares about 3.50, but stayed in when it drove up to 14 before settling back down to what it is today. So my problem is not getting out at the right time.
Patience is definitely key and I think it helps to have a predetermined exit strategy in place before making any trade, especially in #cryptocurrency. If one's time horizon is long-term, there is minimal reason to sell aside from recouping the principal stake upon significant appreciation in the underlying asset.
Ultimately, it's exciting to be a witness to the advancement of #blockchain technology from early on in its adoption. I joined #steemit to engage in thoughtful conversations like this and appreciate your post on the responsibilities inherent to navigating the crypto market.
I'm laughing a lot here kkkkkkkkkk
Excellent article
Glad, I could entertain!
Haha i saw Cute kitties...great information :)
BTC, ETH, ANS and HODL
@hilarski, nice post friend. thank for the news
Not only newbies getting rekkt. lol
cats are so cute! thanks
So true...lol. This is definitely good advice for people new to the sector. I have been trying to get more involved in the communities and projects first hand, that is how you get the best info. I actually just did an interview with one of the developers of Verge today.
https://steemit.com/cryptocurrency/@digicrypt/verge-interview-with-a-verge-developer
I don't know if you are familiar with the coin at all but the project is pretty cool and the community is great! I am going to try and do more of these and try and bring some valuable info to everybody on Steemit. I agree, going to slack or discord and chatting with the Devs is a great source!Keep up the great posts :)
The psychology of a market cycle pic is epic! Have seen that roller coaster happen in many an equity market over the years.
one chart says all
Hahaha nice one. Or you can buy Crypto Ping an a bot will get you 10% return lol. Looked into that ICO today. Not for me.
Informative and Hysterical all at the same time. Well done!
I am sad to say i am a newbie and i chased altcoins and failed i lost $10 , i know your saying that's it, but to me 10 dollars is a lot.I have learned trading can be very scary. Thanks for your post got me in remembrance
Day trading can be very dangerous and little knowledge can be worse than no knowledge. Anyone looking to day trade should learn about protection before learning about what to buy.
Awesome tips! I need to get more involved in slack. Do your own research and buy early before all the hype. Congrats on the new car :)
I don't know much about cryptocurrencies but I don't think I go running around like a headless chicken haha
Thanks for the tips
As someone new to crypto it is difficult to not have a serious case of FOMO with so many people making so much money of these price increases
Kind of reminds me of stocks. I always used to chase after it. Yes, buy when no one wants it. It is dirt cheap then. When all the kittens get in on their late news then yes, sell.
Wait to see, we will have a lot savvy on Facebook to pitch us about Cryptocurrency. By the way, the cats are so cute.
that is tottaly me :)
Great article for all these corious kitties. I need to look back on some of them you linked when I'm home and off esteem finally! Thanks for sharing, you are appreciated!
Great article! I especially loved the rule number two: buy on rumours and sell on the news. As a newbie myself, I can only learn! =]
upvoted as soon as i read the first sentence...finishing the read now. :D
And coinmarketcap is your friend. If a coin has 99 gazillion tokens, it is not getting to 1 usd ever.
If it is 1 satoshi it could become 10 satoshi's which is still 10X your investment. Digibyte and Ripple are recent examples of cheap ones that you could of bought a penthouse with your gains.
Aw yeah, sell the thrill, buy the anger. Stackin' up the coinz...
I bought a few that I like and I keep them in cold storage. I'm scared of keeping them anywhere else. Mostly scared of myself.
I chased shiny objects early on and took some big losses. I learned quickly. Now I'm mostly invested in solid projects that I believe in. I rarely trade for profit, I buy and hold. It's working out pretty well!
Its more like buy the rumors, buy even more when its officialy announced but sell when its released.
lol thanks for a nice laugh and the 'cheat sheet'
Thank you for the info, very informative
I like the pics
Interesting article. Watching you and learning. Thanks.
I still fall into the newbie category but, i am so paranoid about scams i haven't done anything outside a small bitcoin purchase and selling sbd. Even those two things alone i tread with caution. As you said, if you don't understand it, don't do it! Common sense for sure, but not really bevause everyone is doing it anyway (but me). I might regret not being more aggressive later? Or not. I play by my own rules, if I'm not 100% confident it will work i don't do it
Well, it's okay to be cautious at first. It's a whole new technology, all those different keys, wallets, exchanges can be difficult to grasp.
I can only imagine a newbie trying to make an ETH transaction when the whole network is lagging, it can be nerve wrecking.
Just go at your own pace :)
Yep, I intend to. No sense rushing.
Oohhh they look so cute playing. I love this video
Short, but to the point :D. Yeah, I have seen a lot of people with money trying to just jump in and see what happens, if it did rise like 1000% now then it has to in the future as well, right?
We have found that trading a strong pair like ETH/BTC or something else with strong volume during the day only generates the most profit. Watching the charts works best for us anyway.
Thank you for Cheat Sheet, @hilarski. I think as with any new thing first, there is fear involved in making effective decisions. The more you train, the more in place of fear comes a sober calculation and system planning. I also want to become a successful trader. Wish me luck!=))))
Thank you for this awesome post @hilarski! :)
I just got an email from my favorite Elliott Wave trading site that they are now offering a crypto currency service (due to high demand and many requests). This is interesting since Elliott Wave theory is based on sentiment, with a mix of basic technical analysis.
You mind telling me what the added value of your post is? Just as you have a bunch of crypto-newbies out there, there's also a bunch of newbee-bashers. From your post, I'd deduct you're part of the second group. Tell me, does that make you feel good?
holy shit the kids playing soccer tho... lmfao!! I realate... to both noob buying and kids playing soccer... Luckily both of those phases of my life are finished.
Hey Randy,
That market cycle cheat sheet is excellent! I've seen them before but this one is well presented. Definitely the sort of thing you want to have on your wall around your trading desk to make sure you understand if we've just hit complacency haha!
Have a good one mate.
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