/biz/ - Business & Finance

sell before sleep? ez stuff

>>10992965
>what is a stop-loss

>>10992965
1x short you fucking idiot

>>10992973
But what if that shit pumps 20% overnight?

>>10992965
Like a baby. You pussy

>>10992965
they could also be up 40%? you just get used to gambling

by investing only what they can afford to lose hurr durr

>>10993000
Trips confirmed

>>10992965
You stop caring

I'm perpetually depressed
Thus is the cost of making it

it's not "real" money to me

When I started last year lost a bit of sleep over such things.
Now I just stay out of shitty positions in the first place and the few times it happens just "oh well".
Got fucked on this last dip from 6.8 to 6.4 because I didn't set my 7k sells quick enough. First time that has happened in a minute but I expected it to range 6.8-7.2 for a few days at least before shitting the bed.
It's comfy not being all in on shitcoins.

>>10993000
trips and green id. checked.

>>10992965
its called not being a limp wristed pussy you should try it sometime

well in my case it's sheer desperation

1) I've been in crypto so long that I'd still be in the green even if my portfolio dropped 20% overnight.
2) I only gamble with money that I'm willing to lose.

By not leaving a position open overnight, close your fucking trades nerds (or at the very least set trailing stops)

>>10992998
So, waking up and screaming every 30 minutes?

>>10992965
Only 20%?

>>10993119

Daytrading or Setting tight stop losses in this kind of manipulated marked sets you up for trouble

You probably never slept in nature or outside very much with a camp fire burning.
The first 2 or 3 nights you forget to put new wood on the fire or you just sleep too tight and realize when you get too cold.
But after a while you "autopilo" your brain to put new wood on the pit to keep it burning.
The same with trading crypto.
When I sleep I wake up every 45min to "autopilot" my trades. Set new stop loss, open new orders and cancel bad ones. It becomes second nature like intended by our brain.

>>10993159
If your strategy requires so little thinking that you can do it "on autopilot" while half asleep, then you should write a bot to do it for you.

>>10993194
maybe you should suck my dick so I can cum in your mouth while on "autopilot"

>>10993132
wew

>>10993144
Stick to the 1% rule and you're normally good. It's worked for me for the last year (through bull and bear markets).

I will say I've made far more through shorting than anything else, this seems to be far more predictable as most bull runs take a while before actually taking off. So long as you watch your shorts you can close before losing too much.

Also don't trade on stupid high leverage, keep your margins fairly wide to account for short term manipulation and don't trade shitcoins ffs. It's your own fault if you get liquidated.

>>10992965
Stop loss.

>sleep
never gonna make it

>>10993132
DELET

Don't invest more than you can afford to lose, otherwise you end up like pic related.

>>10992965
When you’re 90+% down from initial you will stop caring and nothing will surpise you anymore

>>10992965
comfy. knowing i could wake up to a $400k portfolio or a $320k portfolio, it doesn't matter, as long as i know my btc will be worth tens of millions one day

wee never sleept

I don't really mind waking up

>>10992965
Because any real cryptographer knows it’s a long far and this is about accumulation. I finally hit my target stack on the last big dip and I sleep fan fucking tastic.

I don’t need to day trade or put in new fiat, but if it crashes even worse I will, I’ll buy more. There were times this year (mind you I’m still down 60% dollar value, but who cares about dollars) when I thought I’d lost too much buying power and felt I’d never get my stack.

>I’m a poor fag that added incremental fiat and day traded my way to restful nights.

Protip: there will always be new opportunities, if you’re a trader, don’t accept losing trades, especially because of FOMO.

>>10992965
Because I don't sleep with a position open like some degenerate trader

>>10993888
This is terrible advice.

Limit your losses, don't get greedy. There's opportunity every day and if you're locked in a bad trade you're inherently missing out

You're not "up or down" until you sell, dumbass.

I bought a stock 2 years ago at $26. It then crashed and is just now recovering to around $23. I still think the correct valuation is ~$50, possibly as high as $80. It has solid fundamentals, management, everything. Just bad press. During that time it fell as low as $8, but I was never down because I never sold.

When it hits $50, I'll sell half of it and "break even" with half of the stock remaining, which I'll sell if it hits $80 and doesn't start doing dividends.

>>10993793
tens of gorillions one day

>>10992987
who cares, I'll just focus on my next trade

KEK. Newfag detected. Welcome to crypto where you never sleep because you're always getting brainfukt

>>10993118
What a loser mindset lol. So fearful.

>>10993047
How do you pick a good position so that you dont get barted?

>>10994019
He’s right I forgot to say limit loss (I tried to subscribe to 2% but that’s more viable with stocks crypto moves so fast) I was stubborn when I thought I was right so it took me a few hard lessons. Everyone is different.

..but it’s otherwise sound advice. FOMO is an emotion and it’s rampant in this market.

Set stop losses. Also wake up at like 5am to see if the chinks are trying to fuck me.

>>10992987
That's fallacious thinking and that shit will ruin you

>>10993873
Help me get there anon, I'm fighting my way back by trading cryptos I always get a dildo shoved up my ass at some point.
How did you make it there?

>good traders dont trade more than 5% of their portfolio at time
>20% change is merely a 1% swing in the total portfolio value

>>10993873
Oldfag here, I hope you really believe this anon. You will make it.

>>10994731
Some of it is luck. Hate to say it but the market is so unpredictable.
Delete emotion from your trading. That’s a big part of it.
Patience. And just because I’m at my target doesn’t mean this year hasn’t been challenging, I got my dick kicked in like almost anyone else.
Honestly some of my losses were greatest lessons. This last win was more relieving than glorious.

>>10994804
I double diggity do, friendo. We are all gonna make it.

>>10995005
How could it be luck? You got back to this amount and I struggle to get back no more than $1000...

Even though market is unpredictable you must have got a strategy you applied to know when exactly you open or not a position?