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Who here is trading crypto?

JayKay

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Hi all

Who here is actively trading in crypto?

What exchanges are you using? (Binance, Bitmex, Bybit etc)

Do you use leverage trading?

What strategies and systems are you using?

Anyone been burnt by Telegram Trade Call groups or other dodgy groups?

I have been involved in crypto now going on 2 years. Started out with mining and survived through the 2017 high and following crash. I did a bit of trading at the time but was not very successful at it, mining was just much easier at the time to earn crypto.

Then once mining became very low profit I turned off my rigs, sold most of them and then got involved in HYIP. BIG MISTAKE, I made a lot of money from these platforms but just as quickly lost it all to them. They just scammed out far too quickly and left a lot of damage behind them.

Then I decided to get back into trading about 3 months ago and life has been much better since. I have control over my crypto and I'm not relying on some platform to take my crypto and turn it into more crypto that they may or may not pay out to me.

I mostly now trade with leverage and it is a lot of fun, although it can be risky at times. But with a solid strategy I'm finding I can complete a trade every day or two at between 30% and 60% profit. It can be a real roller coaster ride though, sometimes trades will go into the negative and then it is a waiting game, and a wallet management process to make sure I don't get liquidated. Guys out there that trade using leverage will know what I'm talking about.:whistle:

So any like-minded Carbies out there that want to shoot the breeze and we can share experiences and discuss what works and what does not work?
 
Yoh, you like gambling? :p

With the volatility returning, this can work nicely, however, can go pear shape very quickly.

Some advice - Don't get greedy, get a strategy, stick with it, and set up stop losses for yourself and lastly, have fun!
 
I don't think there is a win recipe with something as volatile as crypto. Small coins are hugely affected by big brother btc.
Don't keep all your eggs in the same basket, have lost quite a number, but luckily not all due to splitting everything over various exchanges.

@LouisABC having fun with your money on the line is difficult [emoji1787] but yes, don't get too committed and caught up, you might - nay - you will get burnt.

Don't get me wrong, money is to be made here, just play it safe, within reason.

Saw an article yesterday about a chap in Ladysmith making a few bucks from the locals and just claimed hackers stole the money - almost sounds like our government.

GL[emoji1303]
 
Yoh, you like gambling? :p

With the volatility returning, this can work nicely, however, can go pear shape very quickly.

Some advice - Don't get greedy, get a strategy, stick with it, and set up stop losses for yourself and lastly, have fun!

Thanks for the advice, but yeah, been through that mill.... I lost a lot when I was new to trading, watched a couple youtube videos and thought I could ace it.... bwahahahahaha... that was a cockup. I was always chasing trades and that burned me big time... but I have found the key to winning more than I lose is to have a solid strategy and to be patient. Patience is key, also not shooting for the sun when trading, that will burn you big time.

What is working for me is using lower leverage (25x max) and setting realistic exit points. If I'm away from my pc then I will set a limit sell to give me a 30%, all that is needed there is price to go up 1.2% in real terms to make that. If I'm there watching the trade and I see more can be gained then I will bail out at anything up to 60%.

You will see guys out there advocating 100X leverage and pushing for massive gains, not me, that is a recipe for disaster. Small bites, bit by bit to grow my account. Also I don't go all in on a trade, I will use 7.5% of my total account in my entry trade and the rest I keep for reserve to manage the trade if it goes against me.

Those following crypto prices will know of the recent 30% price correction that started at the end of June (BTC hit $14000 and then dropped all the way down to about $9700). I had a long that was running through that massacre but I still managed to breakeven at the end. It was a rough ride but I plan trades so that if the price does drop 30%, I can still make it out. If price goes down more than that then yeah, that is trouble.
 
13000usd as of now current stats , know what you doing and double up while you can I foresee ETH going back above 500usd before year end :)

FwiLAta.jpg
 
Thanks for the comments guys.

Crypto is risky, that is for sure. And trading with it even more so. That is why it is better to trade with the higher volume coins, I trade BTC, ETH and XRP. The smaller coins are far too risky to trade with, all it takes is for one guy that a bunch of one coin to sell it off and price can drop 90% in a matter of minutes. This is why you don't see pump and dump on the main coins, its the smaller coins that suffer from this.
 
13000usd as of now current stats , know what you doing and double up while you can I foresee ETH going back above 500usd before year end :)
You are right, we have entered the next bull run in crypto which I think will run until middle 2022, the top 10 coins probably won't see 10000%+ gains like they did in previous bull markets, but price will still go up immensely, with little dips along the way of course. It's these little dips that I trade off. Knowing that the general longer term market trend is up, I trade with that trend.

So I wait patiently for my entry point to arrive and then I enter a trade, i get my target profit and I get out. I then reset my charts and wait.... like a lazy lion I wait for my prey to come to me...lol...
 
Thanks for the comments guys.

Crypto is risky, that is for sure. And trading with it even more so. That is why it is better to trade with the higher volume coins, I trade BTC, ETH and XRP. The smaller coins are far too risky to trade with, all it takes is for one guy that a bunch of one coin to sell it off and price can drop 90% in a matter of minutes. This is why you don't see pump and dump on the main coins, its the smaller coins that suffer from this.

Wasnt that 2017 December rise a clear pump and dump?

I mean October 2017 the price started soaring continuously, everyone and their aunts boarded the HYPE train which was created by ?......? someone/something/somepeople/somewhere and then late dec 18/19/20, cant remember the exact date, all of a sudden while everyone was on holiday and not really paying attention, BAM a huge chunk was taken out and the price did a fast phat belly flop

It just looked like a clear strategy to get the masses on board and then F them over quick quick to make a phat profit 🤑
 
Wasnt that 2017 December rise a clear pump and dump?

I mean October 2017 the price started soaring continuously, everyone and their aunts boarded the HYPE train which was created by ?......? someone/something/somepeople/somewhere and then late dec 18/19/20, cant remember the exact date, all of a sudden while everyone was on holiday and not really paying attention, BAM a huge chunk was taken out and the price did a fast phat belly flop

It just looked like a clear strategy to get the masses on board and then F them over quick quick to make a phat profit 🤑
Hey Cookie

You could look at that and view it as a pump and dump. But a pump and dump generally last a few minutes to an hour and is orchestrated by a few traders. What happened in 2017 was a market correction, the prices went up and up and up and up and then hit a point where a lot of big traders decided to book profits, this mass selloff then caused fomo to kick-in and a sell off chain reaction started driving the price down.

We see this often in all markets, you have a bull run when price will go up for months or years, then a sell-off occurs and triggers a bear market that may last for months/years. We then enter a consolidation phase where price will generally go sideways for a number of months and then the next bull market will begin. It is a natural cycle that markets follow.... the difference with crypto is that these high and low cycles tend to be amplified.
NSwKGFGh_big.png


This chart is not 100% up to date but you can see the general cycles that BTC follows. We've had 3 peaks so far since 2011 with the last one peaking in Dec 2017 at $20k, We have gone through our correction since then and are now starting the next run-up to the next peak.

Traders are aware of these cycles and they play to that
 
I don't think there is a win recipe with something as volatile as crypto. Small coins are hugely affected by big brother btc.
Don't keep all your eggs in the same basket, have lost quite a number, but luckily not all due to splitting everything over various exchanges.

@LouisABC having fun with your money on the line is difficult [emoji1787] but yes, don't get too committed and caught up, you might - nay - you will get burnt.

Don't get me wrong, money is to be made here, just play it safe, within reason.

Saw an article yesterday about a chap in Ladysmith making a few bucks from the locals and just claimed hackers stole the money - almost sounds like our government.

GL[emoji1303]

Indeed, if there was a recipe, all would be doing it! So ya, like you said, diversification is best,

And btw, some people like playing with their money, have you seen old people in a casino, all smiles as they hear and see the wheel turn!! :p

But agreed, you can make money, but you can lose a hell of a lot more!

@JayKay - Good luck with your leverage strategy, hopefully it pans out for you. And remember, caution, do not be greedy and set those stop losses! (Yes, repeating myself, but that is the best advise in this scenario).

PS - Noted all the longer terms views some posters have in the crypto area, but due to the nature of crypto, I would keep the trading to such a short of period as possible, the longer you keep it open, the more risky it becomes.
 
You are right, we have entered the next bull run in crypto which I think will run until middle 2022, the top 10 coins probably won't see 10000%+ gains like they did in previous bull markets, but price will still go up immensely, with little dips along the way of course. It's these little dips that I trade off. Knowing that the general longer term market trend is up, I trade with that trend.

So I wait patiently for my entry point to arrive and then I enter a trade, i get my target profit and I get out. I then reset my charts and wait.... like a lazy lion I wait for my prey to come to me...lol...

Just one more question, why would you say crypto has entered a bull run? Based on what did you base this? Just trying to understand the mindset in this regard. :)
 
Hi Louis

Simply by following the BTC market cycles since its inception. Each successive cycle ( peak to peak) is clearly visible when looking at historical charts. We know for a fact the last cycle ended Dec 2017 when price touched $20k, it then dropped down to $3.2k over a period of 12 months, then entered a consolidation phase of 4 months where the price generally went sideways. Now since the middle of May price has started moving up again and has been breaking key resistance zones along the way.

Generally what happens when resistance levels are broken is that they become support levels from where price can move upwards more.

If you have a look at the chart I posted above you can see the various cycles over the years. Each cycle gets progressively longer than the previous cycle, with highs getting higher and lows getting higher. To see the market cycle clearly one needs to zoom out to daily and weekly charts.

Price now has a general upward trend. I say general because you will have days or weeks when price drops and then recovers. How long it will continue upwards until the cycle ends is anyone's guess, but estimates are around the last half of 2021/early 2022 with price reaching $120k. From there we can expect the price to drop again heavily over a long period, but it should not reach $3.2k as a low again. Maybe it will drop to $25k as a low and then from there build toward the next upward part of the cycle.

t0JnHOx2

This is a weekly chart of BTC. It is plain to see the cycle at work. Peak end of 2017, then price dropping. Consolidation from end of 2018 to May. and then a clear upwards movement. That last candle on right is red, we have had some healthy price correction the past week. There was price consolidating from September to November 2018 but the Bear market was not yet done and we had the final price drop in November 2018.

It's not an exact science, but the general cycle movements are there.
 
Buy gold or other precious metals.
Cryptos wont get adopt in the next 5 years+. I invested a shit load in crypto but wont be so dumb to invest more just cuz of greed. Unless u have a 100mil+ to waste so that u can pump some coins.

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