/biz/ - Business & Finance

[Anonymous No.50987406]

Pic related has been me for the last few weeks

How to I escape this madness? I dont want to be a HOLDer though, that takes YEARS to realize any profits, I want to gain bitcoin now with swing-trading.... its the only way for me to gain significant amounts of bitcoin anyway, inflation has killed my ability to actually put fresh capital in, so im stuck swing-trading with what ive already got

[Anonymous No.50987423]

>>50987406
Gay ass market. That pic triggers me.

[Anonymous No.50987430]

have you tried buying when the rsi is low and selling when its high?

[Anonymous No.50987439]

>>50987406
Your PUs are misaligned

[Anonymous No.50987442]

>>50987430
Yes. It doesn't work either. Ive sold on RSI peaking and then it just peaks some more and more and more and I fomo back in thinking its gona break out, but then it dumps on me.

This is the problem with Bitcoin, you never know if the next jump in price is going to be a massive god candle that breaks all the indicators....so I fomo back in everytime that happens because im simply terrified of being left behind

[Anonymous No.50987443]

>>50987406
Also yeah. Holding is a fucking meme. Year one of a bull market has the biggest gains. Maybe 2-3 years of green follow only for that one red year to take you back basically to the lows of year one again. Piece of shit btc.

I learned my fucking lesson. What most people should do: Dca out in bull markets. Dca in during the bear. I know what indicators to look at. Every time I see a sell signal (it takes MONTHS to happen), I'm fucking OUUUUT. 100% OUT. I saw the covid, may, and november crash coming but kept ignoring the same shit.
NEVER AGAIN. That one red year wipes out 2-3 years of progress. FUCK that

[Anonymous No.50987467]

>>50987442
>Ive sold on RSI peaking and then it just peaks some more and more and more and I fomo back in thinking its gona break out, but then it dumps on me
so stop doning that?
If it goes to 85 and beyond on the daily just sell and wait

[Anonymous No.50987500]

>>50987467
Again though, it only takes a single god candle to destroy all the indicators like RSI and to completely fuck your trade up.

RSI can be topped out, you sell, and you still hit with a massive green candle and who knows if that new candle is the new bottom and now you could be waiting months/years or forever to buy back in only to wait and wait and never get a reentry

[Anonymous No.50987669]

>>50987406
I love how instructors will say shit like "based on this clear support level this pattern is clearly a trend reversal so obviously open a short HERE" and yet it is never actually obvious until AFTER it's already happened and gone.

[Anonymous No.50988370]

>>50987406
You buy more and lower your dollar average you mong, you don't ever sell a loss.

[Anonymous No.50988389]

>>50988370
>you dont ever sell at a loss

The people who bought at $60k could have sold at a loss at $45k and have bought back at $20k

"Never selling for a loss" is depends on the circumstances. If the price is going to collapse, youre better off selling for a smaller loss and buying back in cheaper as it keeps collapsing

[Anonymous No.50988407]

>>50988389
Not selling on the red is a simple strategy for idiots who routinely find themselves buying high and selling low though.

[Anonymous No.50988420]

just sell your decisions before you make them

The person who buys your trades and does the opposite will become very rich

you're not giving your trading choices away for free are you?

[Anonymous No.50988439]

OP you're retarded. Your swing trading based on fomo instead of doing proper analysis and learning strategy. Just hold if you're that dumb.

[Anonymous No.50988511]

>>50987500
First mistake, trying to win every trade. Trades are at most educated guesses on future and future is unpredictable. You will definitely lose some trades even when you think you are right.

[Anonymous No.50988557]

>>50987406
>How to I escape this madness?
do the opposite buy red sell green. i know its hard just start with 10 every time to gain exp

[Anonymous No.50988679]

>>50987443
FUCK THAT. Gay ass market

[Anonymous No.50988722]

>>50987406
>buy projects you're confident in
>never sell
Only thought I have when it dumps is do I want to accumulate more or na

[Anonymous No.50988890]

>>50987500
You sell near the top, if it pump again take opportunity to see bearish signal and try to short. That way you make money both way.

[Anonymous No.50988904]

>>50987406
Wait, so you just trade based on whim? You don't have a system? WTF?

[Anonymous No.50988905]

>>50987406
I sold and then rebought the top for the first time in 6 years. Fuck I hate what crypto has turned into

[Anonymous No.50988922]

>>50987406
>how do I win
https://www.tradingview.com/v/NHl13w4l/
You just win bro, congrats.

[Cryptos No.50989282]

>>50987406
use a trading bot.
Swinging is Robot work.

[Anonymous No.50989448]

>>50987406
>I want to gain bitcoin now with swing-trading
Anon, you have to face the truth. If swing trading was easy everyone would do it, the reality is, it is fucking hard and you need nerves of steel to do it. There is no fomo or panic selling on swing trades, you stick with your TA until death.

To start, you have to come to terms that there is no fucking way in heaven or hell that you will make any money right now, the market is bleeding and is unstable, we are probably going into a range soon and it will be wild swings up and down from market makers to kill longs and shorts, so right now it's the worst time to attempt to trade if you are a beginner. The best thing you can do is to DCA your way down. If you truly believe that crypto will still be around by 2024, then buy, if not, then get out now and invest in something else, study for a better career, etc..

The first thing you need to know is to learn about market structure break, imbalances and liquidity grabs, just search on youtube for this. Then you will have to use 2 or 3 charts with different timeframes, one with a daily chart, a 1 hour chart and a 10-15 mins chart. You will be trading the 15 mins chart and use the other ones to know the current trend and to catch larger imbalances. Once you know about these concepts, do paper trading for around 3-4 months, once you are able to get all of your fake trades right, or at least 90-95% of them right, then you are good to go and start using real money. Remember that longing or shorting is riskier because whales and market manipulators are actively trying to kill your trade, it is fucking brutal. Also start with BTC only, none of that alt coin shit for now, leave that after you feel comfortable trading BTC

[Anonymous No.50989545]

>>50987406
Put together a strategy and stick to it, that’s pretty much all you have to do. Your picture (yes i know it’s a meme, but still) obviously shows the trading patterns of someone who is highly influenced by his emotions and doesn’t have an actual strategy to go by.
Simply put, consider your time horizon, entry points and exit points beforehand and then act accordingly. Say you want to pull out profits after 2 years: you choose the assest class or investment that most suits your interest and investment goals, you pick clearly defined price points where you buy (preferably in tranches) and also sell (aswell, preferably in tranches). Write that shit down and, while you ideally just abide by it, always look at your initial plan, before making any diversions from it. Remove the emotional aspects of trading/investing and you will start to make money. But as long as you’re sitting 17 hours in front of charts everyday, biting your nails and hoping it pulls a 7x overnight, you’re very likely not going to generate any actual profits.

[Anonymous No.50989560]

>>50989448
Also this, great post.

[Anonymous No.50989644]

>>50987442
>Yes. It doesn't work either.
The biggest mistake I see new traders do is to use a a strategy meant for higher timeframes and then focus on lower timeframes. Are you holding for years or trying to do weekly trades? You can't just use one single indicator, you have to use a couple in conjunction for different functions. For example, the RSI is great for entries, but sucks for exiting, pic related is the weekly, you could just buy and hold everytime the RSI goes below 30 and still be fine in next 2-3 years. Are you holding that long? because if you used this, but then switched to maybe the 1 or 4 hour timeframe and start trading there, then you would've seen a couple of giga dumps during the first year and this is usually when new traders decide to sell and miss the run up. then OP's pic happen.

[Anonymous No.50989669]

>>50988557
this, unironically do the opposite of what you feel. reverse fomo

[Anonymous No.50989747]

>>50987406

[Cryptos No.50989780]

>>50989448
>>50989545
>>50989644
The fuck you talking about? in the time you typed that my Robot made me $500 . fuck dude. its a simple config file. dont overanalize it. ride the waves.

[Anonymous No.50989978]

>>50989448
>>50989545
this
>>50989780
let's see your PNL over the last 3 months

botting and swing trading is hard, but you have to look at it as individual gambles, and the goal is to win 51% of the time and roll the dice as many times as possible.

You have two options:
1 - TA, enjoy the next 10 years of your life in maximum autism mode finding God
2 - Grid (ultrawide or it's no different than signal TA calls)

over the long term smart rebalance / DCA usually wins, because there will always be upward pressure on the chart (they are always printing money, the value of the quote is always going down)

[Cryptos No.50990144]

>>50989978
i'll give you the pnl for the past 3/12 hours.

Granted it's tied to the market price, but i am all about ensuring i have the same amount of coin at the end of the session. Doesn't matter what my inventory is, as long as i have the same amount.
Basically I siphon off the profit every few days.

You know it's all a gamble when it's just a game
Ya treat it like a capital crime
Everybody's doin' the time

yeAH

[Anonymous No.50990218]

>>50987406
>Doesnt want to be a hodler
>Too stupid to be a trader

Thanks for playing.

[Anonymous No.50990302]

>>50987406
Here is the bigger problem that no one is talking about.
The elite, through Blackrock and similar, now are so firmly entrenched/positioned in all major cryptos that essentially they can manipulate the total market just like they do wall street.
Only hope for people like us is shitcoins, which is basically like buying scratch off tickets at this point, only 96% of all scratch off tickets available to us are outright scams that will take every penny you put in. NFT market is worse, because you are basically buying a honeypot with no hope in selling. Crypto is dead.

[Anonymous No.50990338]

>>50989448
I’m not trying to make money I’m trying to make Bitcoin. There’s a difference.

I want my Bitcoin holdings to go up, even if that means my account value goes down.

If I have to trade my bitcoin for ethereum and Bitcoin dumps 50% but etherum only dumps 25% them I want to be in ethereum at that time to get able to swing back into bitcoin

[LebAnon No.50990395]

fuck (((hyperinflation)))

[Cryptos No.50990626]

>>50990302

Let them perform Whale on Whale action.
we need to be Remoras.

>>50990338
>>I want my Bitcoin holdings to go up, even if that means my account value goes down.
Exactly. The market for BTC will always fluctuate, and there we are making 50-100 a swing.
all day every day 24/7... once again .. Robot work.

Glory to you and your bags. May your trades be worthy of song.