/biz/ - Business & Finance

>never put in more money than what you can afford to lose

>>2564316
from that flash ETH crash? you were margin trading?

How much did you sell ETH for?

OP you fucking newfag.

This is why we tell you NOT to margin trade crypto and NOT to set up stop loss orders.

And then other fucking newfags come along and tell you to do exactly those things.

If you had listened to those of us who have some experience with this, you would have known better.

Assuming you're not larping, you DID have something good in your life, you had $380k, you could have sat on that for 5 years or seeded it to all the top cryptos and waited as well and would be a multi-millionaire.

You fucked it all up with your greed, meanwhile some of us are lucky just to make a rent check playing crypto, no sympathy.

>>2564316
YOu're just an inbred mongoloid.
Why wouldn't you cash 50% when it was that high valued?

Why did you have to be so fucking greedy?

Just kill yourself, you worthless piece of shit. Nobody will miss you, you're a dissapointment and a disgrace to your family.

>>2564316
You deserve it
You deserve it for betting your money on a lottery controlled by whales.
Whales smarter than you.
You are an idiot
You are probably lying though, but if not you, we know that many people lost money like this.
You think you know the market, you think you can time it, there are thousands of people smarter than you doing the same, and a few smarter than all of those taking advantage and controlling everything.

And then a founder goes and sells 39,000 ETH, and fucks you. Because you trusted on a coin with such a huge premine.
You are just a retard

>>2564316

When you enable margin trading on GDAX you have to have at least $5 million dollars in assets.

Are you telling me you lied anon?

>>2564316
>margin trader who had no idea what he was doing

Good, the weak do not deserve to survive.

>>2564316
>I lost $380,000 in GDAX last night. That was all I had.
so you put an sell order at 10 cents? even if you did, youd still have around 12k

>>2564316
margin trade and stop/loss faggots deserve this

Just trust me all you haters who want to pour salt on the wound. It will happen to you. Life is rigged. We are a slave species. Just you wait till you get FUCKED like I did

>>2564555
>what is a stop-loss order

>trusting anything even remotely related to coinbase

>>2564662

You NEVER EVER should have all your money in just 1 thing. And you should have known that margin trading is risky as fuck. I wouldnt trust even a bank more than half of my wealth. That's an easy way to get fucked.

I seriously hope this was a case of easy comes, easy goes and that you didn't actually worked for decades for that money.

>>2564316
If you had that much money you are only a couple great trades from being a whale. No offense op, you must have made some really stupid trades. Even small gains on that amount can really add up.

>>2564316
What actually did you do, seriously?

I don't understand the situation. Did you have your entire net worth in your Margin Account?

I never knew how easy it is to just scam people in cryptos. Completely unregulated exchanges and scam ICOS everywhere. Why isn't everyone just spoofing orders left and right to create daily mini flash crashes?

>>2565179
cause you need to have a ton of coins for it

>>2565114
I wanted to be a millionaire. You dont get to be a millionaire unless you do what I did. Yea I got 10 grand should be just enouhg to finance my suicide.

>>2564316
You're a massive faggot and a retard for investing more than you could afford to lose in a highly volatile, at times illiquid asset, and you deserve everything you get.

>>2565366
Buy Byteballs with that, and hold for a year, you'll be back to what you had and life will go on with you having learned a lesson

>>2565366
shhhhhhhhhhh

no more words, only dreams now

>>2565366
you'll get there one day m8; if you managed to reach 1/3 of the way you can do it again, that is unless luck was involved, in which case good luck in today's market

How the fuck did you lose it? You cant accidentaly drop internet money my lad.

>>2564316
Post proof or it didn't happen, faggot.

>>2564316
Also, in order to margin trade on GDAX you have to sign a legal document certifying that you hold at least $5 million in assets, so what you did was illegal and I hope the SEC and/or IRS finds out and heavily fines you.

>>2565366
do you have a dog? get a dog. 10k means you can pick any breed you want (i recommend purebred border collie). put the rest in an account to guarantee the dog can have food / shots / emergency care. if you still wanna become an hero after a month go for it

>>2565366
>I wanted to be a millionaire. You dont get to be a millionaire unless you do what I did.

YES, YES you can. I started with crypto in 2013 and loss all my money (3 grand, yes i didnt have any money then). But I kept trying and trying buying coins WITHOUT trading and lost money all the way into 2015. But then , i finally got into a good one and now i pretty close to being a millionare. This was with sub 10k because i never put money i cant afford to loose.

If you had 300k already you didnt have the need to do such risky stuff to be a millionare. You could even had bought granpa stocks after the coming correction/crash and you would be set up for life. And so much other stuff.

Hell you cant still become a millionare if you still ride this crypto bubble until the end and get lucky. Set that up as your goal and at least you could recover most of your money.

dont play with THE SYSTEM

>>2564390
what does margin trading has to do with the crash? How does margin trading correlates with the stop loss feature being used at ridiculously low prices?

>>2564316
Sorry for your loss, OP. The only way to cope with it is to start over again. Once you set your plans on a new front, you'll bounce back to where you were again. Also, never margin trade on crypto, it is very, very risk.

>>2564316
Dear OP,
How did you get the money in the first place?

If you have traded up to it or even started with a portion of it and traded it up to that full amount, then you will make it again. The real huge crypto bubble is yet to come, although the hype cycle and bull rally for this year may be over.

If you haven't actually traded up to that amount and just got it mostly from parents' money, then you are more fucked, but are even still in good standing. You are here, in the crypto space, a few years before the big bubble, with huge gains yet to be made.
You're like that guy who left 7 gorillion dollars of BTC on a harddrive he went searching for, or that guy who paid 10,000 BTC for a pizza. Even though they got massively fucked in retrospect, they still had the ability to make back their fortunes and then some.
Quitting now would just be unreasonable.

>>2564428
/thread

>>2565615
nigga you are dumb as fuck

do you even know what margin trading is? lmao

>>2566549
these fags with stay poor without margin trading

most exchanges have protection against what happened to gdax

OP simply didn't do research on the exchange and how it worked

this isn't even the first time this happened to ETH lmao.

also,

>all inning on a shitcoin

>>2564443
This. It's a addict mentality. I was thinking about it today actually and how ppl could construe crypto to all be a scam because newfags pour their life savings into an investment and don't express some simple self constraint and perception of the world around them and scoop out the gains you need right now, reinvest the gains you don't need, and for the love of God, never ever ever ever touching your principle. I feel no sympathy for plebs like OP, they deserve to lose it all because they stupidly played with it ALL.

>>2564316
Assuming he's serious, how is that even possible? With some sort of shitty stop loss at the current market price?

>>2564475
Wait, really? I checked it out on a coinbase redirect but idk you there was such a high buy in :^(

>>2566679
I mean a stop loss which triggers with a current market price ask (10 cents)

>>2564316

Instead of killing yourself, why don't you go commit sudoku on the people responsible for this first?

That'd be a great last act.

>>2566605
>most exchanges have protection against what happened to gdax

Lol.

Where's that fucking normie spongebob meme thing?

Secondly, Bitcoin has had FAR FAR worse problems in its time.

Get fucked Bitcoin maximalist. It's time people realized the emperor has no clothes.

>>2564316
NO REFUNDS


ALL TRADES FINAL

>>2566719
>eth gets competely fucked over causing tons of people to lose their shirts
>get fucked bitcoin maximalist
???

>>2566752
>ETH was fucked
ETH seems fine to me, hovering at $330.

>>2566699
If you set a stop loss, it just market sells when the price breaks that point. So if you set a stop loss at 300 and it flash crashes to 0, you end up market selling for 10 cents per eth

>>2566752
>causing tons of people to lose their shirts
Only idiots.

>>2566888
Well thats fucking dumb, I guess that newfag guide is just a huge troll in that case.

So the conditional sell (trigger when x, ask y) on Bittrex is actually a stop-limit?

No silly, a stop loss turns into a market order being filled at the next available bid -- there were more offers than bids and got filled at the best possible price -- this happens all the time in the futures market where billionaire are created annually -- Wait until the fad pops, exchanges go broke and you still have to pay the taxes once pinched -- goto cash, you missed the band wagon

Explain this to me ,OP set a stop loss order up but it didn't get fulfilled because the price dropped so quickly and so he sold it for a much lower amount? I thought you can set your stop loss order to sell at a specific price once it breaches a certain point ?

>>2564316
https://www.youtube.com/watch?v=f5OAoa59-9Q

>>2566929
>>2567309
There is a stop-loss (market sell) and stop-limit order. Stop limit you can set the price you want to sell for and if it flashes lower than that, you end up not selling until it climbs back to that price you set. I wouldn't even bother it if you're long and don't know what is going on. For example, if you set a stop-limit of 300, and it flash crashed from 330 to 0, you'd still end up selling all your eth for 300 even if it bounced back to 330.

OP might have got wiped by a stop-loss or margin. If you had an all-eth profile with any margin at all, you got liquidated on GDAX. Even 400 eth principle with only 1 eth on margin would be liquidated since it literally went to 0 briefly.

>>2564662
Fucking gods, they play with us. Watch American gods to get the feels.
WE MUST FIGHT THEM, THEY FUCK YOU UP WHEN YOU SLEEP, THEY ARE ALL AROUND. FUCK I SEE THEM. WE ARE FUCKED.

>>2564316
>>2564316
>the only possible event out of ten million possibilities
m8, there will always be 'events' when bubbly money is flying around, the trick is to take it off the table so the 'events' can't rape you.
Not so long ago a lot of 'traders' actually believed the Swiss national bank when they said they'd sustain a peg against the euro. These fucking idiots had 100 or more X margined positions against this nice line, then the Swiss pulled that line and it cratered 30% instantly, and took a lot of houses, brokerages and probably lives with it. Stopslol, the stops were filled 'later'. And this was a major fucking currency pair on huge brokers, not some cyber meme. Picking up pennies in front of steamrollers, this is real.

The biggest and best traders in the world don't keep all their funds in their trading accounts, they keep a small percentage of it there, as much as they need for margin and a comfort zone. Why would you so something different, when you are dumb?

>>2564316
Stop putting all your eggs in one basket . /Thread .

>>2564316
>I lost $380,000 in GDAX last night

So post some fucking proof. Are you people retarded or is every claim on here fake? It takes one second to post a fucking screenshot of your account.

>>2565539
FTFY

>>2568955
>PROFFIT
>FF
>F

>not using stop-limits

You've only got yourself to blame OP

>take huge risks
>lose
>complain about losing
yeah, its like its not your fault at all...

>>2568653
you didn't read the news about GDAX and ETH?
many people lost millions

>>2570030

Yeah, no shit I heard about the news. I am saying OP needs to post a proof of his losses if he wants to say he lost $380k.

I know most of you are 12 year olds who will just believe anything someone says, but it literally takes 1 second to screencap his account and back up his claim. Why would he not do that if he is legit? Probably because he is just an attention craving fag

>>2566719
who the fuck said I'm a bitcoin maximalist?

ETH is simply a ponzi

it's so fucking obviously a ponzi it's retarded

Everyone who lost money..

https://discord.gg/Gv5zCv

Let's talk. We are going to start a lawsuit.

>have $380,000 in ANY crypto that isn't bitcoin
>don't have it sitting on your Bitcoin Core wallet but in some exchange instead
sorry for your loss.

>>2566719
BTC is getting segwit and it's scaling. ETH blockchain is collapsing at its insane growth rate.

Sorry, you can still sell your meme for BTC before its too late.

>>2564316
Sure you can make money again, OP. Don't surrendeer now.

When I see that I lose I remind myself that I do still have my initial inversion (meh, I only have 100€ in coins...).

You could be worse.

>>2564316
>Peddling fake money instead of learning an actual skill that can never be taken away
You were worthless to begin with

>>2570075
>lawsuit
On what basis?

>>2564316
it could be worse, you could have lost your life

>>2564801
What should i use?