/biz/ - Business & Finance

>>27483526
Apply this to crypto and sell at every FOMO spike...

>>27483526
I fucking hate the fact that I didn't buy anything in the 2020 dip, I feel like I missed on a major opportunity

>>27483526
so basically dont have any fun? screw that. HOLD GME

>>27483922
>hindsight
There will always be more opportunities.

>>27483922
You and me both fren

Based and truthpilled. Although some of these are far easier said then done.

how do you find the support snd resistance in a chart?

>>27483922
My friend called me a retard for investing last year. I 5x my money and he stopped talking to me

>>27483526
>Go all in on shitcoins
>No stop loss
>50% gains aren't enough
>Buy high
>Sell low

Amidoinitrite?

I know all these, bought the dip on GME and now I am financially ruined.

>>27483922
Thinking about shit you missed takes away your focus from things you can partake in.

>>27484401
Yes

>>27484530
>people unironically gambling with their life savings on the off chance it goes to 5k or whatever

>>27484054
True, well it wouldn't have even been legal for me to purchase stocks where I live back then, just turned 18.

>Buy low.
>It dumps even harder.
>Sell high.
>It moons.

>>27483526
explain the last one please

>>27485806
>>Buy low.
>>It dumps even harder.
Wait. Buy more. Sell at a profit.
>>Sell high.
>>It moons.
Doesn't matter as long as you made your profit.

>don't trade with margin
but anon, then how am I gonna get rich with my 5 rubles?

>>27486078
>Buy stock for $10.
>Stock dumps to $5.
>Buy 2 stocks. Average buy in price now $6.66.
>Stock recovers to $7.50.
>Sell and make 12% profit.
>>27486444
Slow and steady wins over fast and risky. Not only will the threat of liquidation fuck HEAVILY with your psyche and cloud your vision you will also inevitably get fucked at some point. Trust me, you can lose months of solid trading work with one bad call. Also there are so many wildly fluctuating assets that you can still make massive gains without the risk of getting rekt in the process.

>>27486950
based

>IRS has entered the chat
Idiot

>>27487400
?

>>27483526
>Don't go overboard with esoteric TA

>>27483526
Very based post.

>>27483526
>When something you hold dumps just wait and buy more to bring the average down.
lmao coping GME redditor bagholder

>>27484532
based.

>>27484401
Couln't be going better.

>>27484301
>normies get jealous and cut you off for being successful

be glad you dont talk to him anymore anon

>>27488556
>>Don't FOMO into memes.
Anybody who thought that there was profit to be had in an asset that already went 90x while EVERYONE talked about it deserves to lose their money.

>>27488049
Kek, i'm saving this one for later.

That's a lot of random advice crammed into one fallacious post. Why don't you go fuck yourself

>>27483526
This, but replace
>Buy dips, sell bumps
with
>time in the market > timing the market

Unless you are a very experienced trader who has extensive experience and knowledge of the industry and know how to interpret the charts and various metrics, then you should stay away from swinging.

>>27489129
what if you're poor and need to make enough money each day for food and rent

>>27489251
Get a job.

>>27489124
Awwww, wittle baby lost money with his GME stock :,(((((

It's okay you'll learn buddy.

>>27483526
OP, TA is not a food...

>>27483526
>>Don't trade with margin.
Complete noob here, can someone explain what exactly hits means?

>>27484301
He's not a friend, he's a crab. He should be happy for you but he envies your gains because he doesn't understand value and investing. Don't surround yourself with crabs.

>>27489124
t. assblasted memetrader

>>27484401
My strategy so far, only lost 25%, am I going to make it?

>>27483922
>thinks there isnt a massive recession on horizon
money printers bearings are getting destroyed

>>27483526
this is literally what i do. just buy dips and sell for profit. but i put most of my money on btc/eth and just HODL it in an interest bearing account.

>>27489524
Only 25? Good year on crypto is -50% for me. Ain't much, but it's honest work.

>>27489465
borrowing money to go full degen gambler basically

>>27489315
What then? Nobody ever got rich working a job

>>27489465
Most brokers and crypto trading sites will give you the option to use leverage. That means they let you trade with more money then you have. For example you could have $10 on an account and use 10x leverage, now you can buy shit for 100$. Now if you bought something for $100 and it goes up 10% you actually make $10 profit that means doubled your investment. Sounds awesome so far, but here's the fucking catch, if the price moves 10% against you the broker/site will take over your position and liquidate it and your money is gone forever. If you buy something and it drops in value you can still wait for it to go back up again or sell at a loss, if you can liquidated the money is gone for good.

>>27490153
Work a job and put small amounts money into your trading account and learn to trade in your spare time. At some point you'll make make more money in an hour of trading than an hour of working, that's when you quit.

Unironically takes notes, newfags. OP is dropping advice that people usually charge money for.

>>27489465
ooooaaaAARFGGHGHH WHY CANT YOU REDDIT NIGGAS JUST USE GOOGLE WHY DO YOU HAVE TO BE SPOONFED LITERALLY EVERYTHING

Should be a sticky.

>>27484532
this. i spent the whole of oct/november losing my mind over the fact that i was too poor to make any moves when all of crypto tanked last year. i had none, no money to scoop anything up, LINK went from $4 to $20 in august

i buckled down and just blocked everything out. i kept buying link from $17 all the way down to $8-10 when everyone on biz was screaming to sell ironically or otherwise

bought a 400 uni stack late dec for like 5.50 each too. watching people lose their minds that they sold when they should have held or bought more is so satisfying i have no reason to look back at all.

just focus on what you know right now and what you're going to do about it. a month or two from now you won't give a fuck about what you missed or who you let talk you out of what you should have done

>>27489990
>>27490703
Thank you anons.
>>27491590
I'm german and wasn't sure what exactly to search for.

>>27488049
fucking kek

>>27483526
>Diversify

Fuck you, I am balls deep on SNOOPDOG'S SNDL STOCK

Not really related but how do you do taxes on crypto? Once you withdraw or you have to do it per trade?
Am retarded forgive me

>>27483526
My strategy is buying when I see pink wojaks and selling when I see green wojaks.

>>27483526
Thanks dad.
Long bitcoin futures is the big squeeze play with no upside limit.

>just invest in fucking indexes and etfs and reits and bonds like a normal person

>>27492817
Get a free coinbase account and play with their tax tools. No one is going to type out the nuaces here, but you can play around yourself.

>>27484530
>don’t FOMO into memes
>I know this
>FOMOs into a meme

You don’t know

>>27493190
Yes.
Having speculative investments is fine, but they should not make up a high percentage of your portfolio.

>>27489389
>>27489523
I enjoy losing money. I lost more yesterday than I used to earn in 6 months and it doesn't phase me because I did so at my accepted level of risk. I took a shot. OP is spewing shit advice he wishes he had the patience to practice himself
>don't trade with margin
just tell them to buy into their 401k while you're at it oh finance wizard
I'll be over here buying high and selling higher

>>27493075
> Long bitcoin futures
LOL..do it then tough guy!

>>27483526
The mature way to invest. Made $6,000 profit on gme this way

>>27493664
Why does every loser on here feel the need to paint themselves as some financial genius? I mean obviously it's because they're losers and want to feel like they matter to anyone or anything, but it's still just so pathetic.

>>27493664
>I enjoy losing money.
The /biz/ way

>me beginner in binance
>looks at the trade's points
>too many complicated with numbers
>start wondering how all of /biz/ even works with this

Sensible investing Chads...I kneel
I was up +300%, held too long and had to sell at a -60% loss because I overslept when it tanked into the shutter
I see the error in my ways, I will only trade responsibly now.

>>27483922

>>27484530
What the fuck is wrong with you
only throw .1% into memes

>>27483922
burn the fucking patterns to your head and try again next time

>>27494150
learn to set stop losses/take profit orders before you go to bed

>>27486099
this

>>27483922
How the fuck can you not buy? Every retards literally think it's zombie apocalypse while it is actually just a fucking worse flu.

>>27484532
Very true wise anonymous poster. While thinking about why you missed out can be productive, getting hung up on your defeats only distracts you from the next opportunity.

>>27494723
I fucking forgot. I lost like $60 of my initial investment so it wasnt much but I got way too cocky

>>27483526
>FOMO into Link in preSibos pump
>get dumped from around $1 to 30 cents
>buy more at 30 cents
>it dumps to 20 cents and out of top 100
>don't even care about money at this point
>hold for the next 3 years
>realise not selling meme is not actually a meme

>>27483526
>Set orders at support/resistance.
Elaborate please. I can guess that means buying at support cause it's likely to go up, but what do you do at a resistance, sell?

>>27486950
>Slow and steady wins over fast and risky. Not only will the threat of liquidation fuck HEAVILY with your psyche and cloud your vision you will also inevitably get fucked at some point. Trust me, you can lose months of solid trading work with one bad call. Also there are so many wildly fluctuating assets that you can still make massive gains without the risk of getting rekt in the process.

This. I sold, DCA'd, consolidated, and bag held weedstocks over the last 3 years. Finally narrowed everything into Aphria and got my average down to $10 CAD. Now I'm thousands in the green. Once US federal legalization takes place the sky's the limit. My worst positions have always been short term options plays. My longer plays have almost always been successful.

>>27495565
Support and resistance are the points where it's statistically the most likely that a price reversal occurs. Say you want to profit of something then you place your order at or near the next big resistance. Yes, you could place it higher and hope for a breakout (which often happens) but most of the times the price turns around and you miss a profit window. It's better to sell at 105 and rebuy at 90 and to sell it at 105 again than to wait for 120 forever.

>>27496434
based, thanks clevernon

>>27483526
>Buy Link

>>27489793
There will be no more recessions

>>27488049
based