/biz/ - Business & Finance

>>8481149
We've all been there. You have to actively resist FOMO and realize you not only can you not get every trade right, you dont need to.

>he say trades
Weak handed wimp

>>8481149
Buy and don't tell anyone about it.
Hodl and wait for a few years.

>>8481181
thanks anon, I guess some people are just not made for it

What indicators are you using to decide to sell?

>>8481287
volume mostly

Same. I break even or make barely profit,but if I just held I’d have made so much more. This is a coin flip to me.

>>8481257
Youre only not made for it if you think youre not! If you really want something you can always get it

>>8481149
>finally have this feeling it's time to sell
How did you get this feeling?
Is it after a continuous downtrend, when if feels like there's no floor, it's gonna crash to zero, and crypto is over?
This is ALWAYS a buy signal.
...unless you are talking about some unknown shitcoin, in that case, yes, there's a chance it's never gonna come back again ever.
BUT if it's a major coin that can never go to zero, this is a MAJOR BUY signal.

The major thing about this buy signal, is you never feel it if you are a nocoiner. You instead feel smug and right, like you made a correct decision not being in the coin.

To actually learn to feel this buy signal out, you have to put yourself in the shoes of hodlers, and imagine how THEY would feel with the recent price action and trend.

> it skyrockets making me fomo
NEVER do this.
You will NEVER run out of opportunities in the market.
If the large green candle is already there, it's usually already too late.
A huge green candle is a SELL signal, it's not the time to fomo in.

>>8481394
Exactly this-- your emotions are the strongest indicator of what to do.. hard part is understanding them.

Wanna ask you >>8481394
You ever overthink your fomo and confuse yourself?

>>8481149

It's a learning process bro. Here's a few tips you should take to heart that have helped me along the way.

>Dealing with FOMO, wait for the first pullback before going balls deep.
>When entering a long, think of a good price ahead of time. Now take 1% off your price. That is your true entry. So say you want to go long at 8350, set your bids at 8270 or so. The point being, a lot of people tend to go long or short at the same spots, and whales will dump to stop people out. This has saved me quite a few times. Same rule applies when going short - enter your short 1% above where you feel like you should go short.
>Research the kelly criterion, it's a great entry point for a day trader and helps you learn about risk management.

Good luck mate.

>>8481547
I NEVER buy when the price is going up, so my version is fomo is buying too early after a price dip.
e.g. price dips 10% within an hour, and I quickly buy in, without zooming out to 4hr or 1d candles, when I could've seen that this price isn't really that low based on those charts.
Although sometimes such dips still bounce quickly, then I feel like I missed out on a great trade.

I never really fomo on price rallies because a few great trades compound quickly
e.g. 10 trades where you can 10% = double your money
(although it doesn't really compound easily due to order book liquidity)

>>8481547
I NEVER buy when the price is going up, so my version is fomo is buying too early after a price dip.
e.g. price dips 10% within an hour, and I quickly buy in, without zooming out to 4hr or 1d candles, when I could've seen that this price isn't really that low based on the chart history.
Although sometimes such dips still bounce quickly, then I feel like I missed out on a great trade.

I never really fomo on price rallies because a few great trades compound quickly
e.g. 8 trades where you can 10% is more than double your money
(although it doesn't really compound easily due to order book liquidity)

>>8481297
Well you can't just rely on 1 indicator, and especially not a weak one like volume that could change at any second.

>>8481394
>>8481547
>Is it after a continuous downtrend, when if feels like there's no floor, it's gonna crash to zero, and crypto is over?
>This is ALWAYS a buy signal.
Not trying to be smug but that's what happens to me most of the time.
My opinion is that the buy le dip meme only really works in a bull market.

I've made about 20% just doing 1-2 trades a day the past week and a half maybe. I look for lowish volume coins, I've found that bibox isn't bad because they have artificial volume stimulated by bots so the price will fluctuate but you won't have as much competition and people out bidding out. Another thing you should look at is Stochastic RSI to predict whether sell or buy orders will go through, this indicates whether the coin/token is overbought/oversold at the current time. Another feature you can use to predict the ranges where buy and sell orders might go through is bollingerbands although for lower volume coins I tend not to use them because if a certain amount of time goes by then they tend to shrink. Moving average and moving average 30 are good ones to use, sometimes when you see them about to cross you can predict a shift in trends.

>>8481214
>>8481365
Fuck off, your Doges will still be worthless even in 2022. Learn to trade or kill yourself.

>>8484588
Another tip I have is to stick to maybe 2-3 coins, if you find a coin which is maintains stability you can then accurately predict at which point it will dip to and at which point it will stop rising and drop down again. For example a certain coin which I've been swinging goes up to 5700 and then drops down to ~5300-5400. This is about a 6% difference. If this coin does this 2-3 times a day and you're constantly monitoring it and can get your sell and buys off you can make a good profit, even if you miss a hump you can wait until the next one. A certain "feature" coins have is that their dips and humps often occur at ranges it has happened at before, I'm not sure exactly the reason it happens but for that coin I mentioned before, it consistently reaches those areas, it has neither dropped below 5200 nor gone above 5800 (rarely there is a spike possibly from someone buying an extremely large amount but the price returns back within the next 2-3 trades).