/biz/ - Business & Finance

>>7656985

Fat chance OmegaCuck

>>7657111
Fuck off pajeet.

>>7656985
>shorted at 6300 instead of 19500

>>7657176
It was my first short ever, I had just set up the account on Huobi. I was more of a HODL XD guy but I wanted to make money in the bear market too, too bad I was too late.

>>7656985

>shorting *after* a -60% crash

wtf were you thinking OP

>>7657205
a-are you still short??

>>7656985
>shorts the bottom
Just... why? You saw it was already down 60% and only then decide to short? You might get ONE chance at covering that short for a wash. If you miss it might as well cut the cord because you’ll be btfo, the downtrend could very well reverse here. And I’ve been a bear for like 3 months btw.
Take it as a lesson anon.

>>7657205
You short when something breaks, not when it's cratering like a falling piano.

>>7657272
I haven't closed the position if that's what you mean. It's only 2x leverage so the liq price is over $11k, but I'm not deluding myself it'll reach $6k again soon. I'm hoping for a smaller pullback though, then I'll close.

>>7657319
>downtrend could reverse
>implying it didn't reverse the second we hit 6k

>>7657384
It’s not confirmed yet. Never buy an unconfirmed reversal. There were about 3 “reversals” already in which people got screwed trying to time it.

>>7657319
As I said I hadn't had an account on an exchange that allowed margin trading before and just hodled through the crash. But I saw lots of threads of people making money in the bear market by shorting and I wanted to try it too. I watched the price from $7300 but went to bed and saw that it dropped below $6500k on my phone, thought that it's going to freefall to some $5k during the night now that it had broken the support, and FOMO shorted so that I wouldn't miss the opportunity. It was my first short and I learnt not to leave a risky trade overnight and not to short near the bottom.

>>7656985
No idiot.

>>7657415
I don't know about that. The rebound had the highest daily volume in two years. That was a pretty damn solid one. At the very least shorting in those conditions was completely retarded and like playing Russian roulette with 4 bullets in.

>>7657332
I've made that mistake before many times. In the future the best thing you can do is have a stop, if you are stopped out you get to play again instead of getting liquidated. You can be right about the overall trend (down) but the short term trend can wreck you, bear market rallies are known for how fast and vicious they can be.

People are still shorting this rally so it could have more legs, when people start FOMOing back in long, then is a good time to short. Maybe wait for Omega to make a "I'm 100x long" thread then you know its the top.

>>7657415
What is your target price that it must reach for you to believe it's broken out of the bear market?
Looks like we have broken out of one downtrend, and the $9300-$9500 levels were substantial resistance that we're just breaking.

Why the fuck do you guys want it to go down again? Only to make yourselves feel better?? If it ever went down again you wouldn’t buy because you will wait for it to hit 4K or 3k, stop deluding yourselves, you wouldn’t buy if it went down again because you will think it will keep going lower

I shorted at 6300 too.
I get liquidated if it rises another 100

>>7657839
What? I'd buy as soon as it fell lower than my entry price. Hell I would welcome even $7000.

Prepare your bear filet

>>7657440
larp

>>7656985
just relax, we're going back to $3K. It's just going to take a while to get there and the road will be bumpy. BTC is still insanely overpriced, and everyone knows it

>>7657211
Buy high, short low is the /biz/ way.

>>7659095

not gonna happen dude :DDDD

https://www.youtube.com/watch?v=TRXdxiot5JM
>he shorted?..

>>7657839
because when btc crashes alts crash even harder, that's what I want

>>7658471
I think he's just pretending

Buy the high, short the low.

>>7659201
MY sides

>>7656985

>short low
>get liquidated high

classic /biz

>>7656985
gtfo and put the money in LITECOIN instead