/biz/ - Business & Finance

[Anonymous No.53841026]

>know nothing about trading
>yet I've been balls-deep into AVAX for so long that I can identify its common patterns, resistances, supports, etc.
>sold at $20 expecting it to come back to $18-$17 before another pump
>trading expert friend tells me I shouldn't have sold since all the indicators show it'll keep pumping
>panic buy again at a slightly higher price
>lost like 5 AVAX in the process yet confident it'll go up to at least $25-$28
>shit dumped today to my re-entry target
are funny lines & charts even viable? how's /biz/ experience with them?
I fucked up for not sticking to my own vision but he's actually a good trader so I thought it was wise to listen.

[Anonymous No.53841089]

kys

[Anonymous No.53841102]

>>53841026
AVAX is extremely undervalued

[Anonymous No.53841105]

>>53841026
I made a bot once which I used to try a bunch of differing strategies using a tone of different meme lines, but I could never find a strat that gave me above 50% win rate. That being said I did it with crypto, but still. I think most of the money comes from watching news and being informed, and if you look at professional traders at work, that's how they do it. They have a stock in mind, they scan for new products / press releases / etc, and they go from there.

In general I suppose you should stick to something you know. For me, for instance, it's video games, because I'm a manchild, but the point is that you already naturally know what to look for in certain situations.

I've also been meaning to train a neural net with these meme lines, but I'm not sure how effective that would be. I might do it for fun, but at least for crypto I don't have great expectations (and yes, I only used stable coins for this).

[Anonymous No.53841107]

>>53841026
expert traders only exist in traditional financial markets because they move slowly, the patterns are larger, and there are many regulations and interconnected markets. crypto has none of that. it is like 70% emotion, 20% hacks/flashloan attacks/market manipulation, and 10% actual research and technology-driven performance. you should listen to your intuition

[Anonymous No.53841278]

>>53841102
I know, that's why I can afford to mess up since no matter what it'll eventually go over $500 easily.
>>53841105
So, basically you'd advise to simply stick to actual fundamentals and patience rather than trading meme lines?
I'm confident Avalanche has the tech, so that's why I've sticked to it for so long, and probably won't drop it unless something awfully catastrophic happens.
>>53841107
Sounds like bait anon, I sorta agree with what you say, but those rates (e.g. 70% emotion) sound a bit hyperbolic. Are you for real? Why do you believe that? Legit question.

[Anonymous No.53841296]

>>53841026
cute emin

[Anonymous No.53841758]

>>53841026
Let this be a lesson to you. Trust your own gut if it works.

>>53841105
As far as bot trading goes idk about the big institutions but at home you gotta focus on some very specific price patterns to get a profitable bot and that means less trades because the conditions happen less often. It's still worthwhile but it's something that pads my income. That's only a rather basic bot though. No fancy AI shit which I imagine could be used to make something better but I ain't got time for that.

[Anonymous No.53841833]

>>53841026
Is her name, Avax?

[Anonymous No.53841893]

>>53841278
>that's why I can afford to mess up since no matter what it'll eventually go over $500 easily.
so stop swinging it, one day AVAX will take off and never look back and many people will be left in the dust and regret FOREVER.

[Anonymous No.53842041]

>>53841296
would you have a threesome with Emina and Vitalika?
>>53841758
I'm always open to learning from people that have different knowledge than me, but I also guess I can be insecure sometimes with my financial decisions.
>>53841833
kid named AVAX:
>>53841893
Swinging has helped me to increase my stack, which is something I'm doing exactly for the same reason you're mentioning. I want to have a proper bag before the $500+ run.
Btw nice collection you have there anon.

[Anonymous No.53842097]

>>53841278
>Are you for real? Why do you believe that? Legit question
Information is the only thing that moves the market value in the crypto space. Surely you've seen the overnight and by-the-second liquidations and mc fluctuations on even large coins, right? One of the central appeals of crypto is self-custody of assets, and the ability to nearly instantly and almost for free transfer those assets. This is a good thing, but it also leads to crazy market instability. Since there is no central regulator, people must act in their own best interest. If there is a large buy or sell, people will follow for no other reason than to follow the volume. A lot of financial experts are unable to wrap their head around the sheer scale and frequency of even an average user's crypto transactions. A high end day trader might only have 3,000 trades all year - a moderate DeFi user can easily have as many as 10,000. The speed makes it harder to effectively do any risk management short of 'dont invest what you cant afford to lose'.
Don't get me wrong, there is space for traditional financial strategy in crypto, but it is in slower moving applications like locked staking or loans or providing liquidity.

[Anonymous No.53842361]

You got lucky anon. At some point it won't dump and you will regret you sold at $20. It happened to so many people. Imagine selling eth under $100 thinking you are smart. Many people roped this way. The ones who made the most money of crypto are people who bought and held for 5-10 years

[Anonymous No.53842592]

>>53842041
>Swinging has helped me to increase my stack
be careful bro
>Btw nice collection you have there anon.
thanks here have another new one

[Anonymous No.53842645]

[Anonymous No.53842813]

[Anonymous No.53843067]

I only swing with 10% of my stack. The stress of doing it with the entire thing is unbearable.

[Anonymous No.53843590]

It is best to keep some avax for bull run, I mean to be sold over 3 digits. For other part, do what you want, yeah I feel you I do the same mistakes sometimes

[Anonymous No.53843768]

I wondered why Avalanche didn't pump on tencent news, but then BTC took a shit, And now i understand that the regularities of Avalanche manipulated price action are stronger than any short term catalyst like news (plus, avax whales def didn't bid because they knew market is about to take a shit)

[Anonymous No.53843789]

>know nothing about trading
>holds AVAX
many such cases

[Anonymous No.53843828]

Cool blogpost about losing $80 day trading, very important thread

[Anonymous No.53844334]

swingies get the rope

[Anonymous No.53846650]

bump

[Anonymous No.53847230]

the thing about swing trading is all that matters is if a whale shows up or not no whale no pump no whale no holding no whale no buying most of the time you actually buy "high" when swing trading and sell higher because you see the whale they can't hide they're actually buying and not pretending to buy like they often do that's when you buy "high" because nothing in crypto is ever actually "high" when a whale is around they have the funds to pump things a few percent all on their own

[Anonymous No.53849432]

bump

[Anonymous No.53849842]

>>53843789
>many such cases
i had a similar experience with AVAX, Solana and ada in 2021, i only picked randomly, those that were here in that year can testify. Sylo too, made a fortune from it as well.

[Anonymous No.53850356]

>>53841026
Diversify anon, bag other alts as well

[Anonymous No.53850410]

>>53841102
crypto will not be undervalued until all double digit coins cost a penny and all shitcoins are dead and forgotten

[Anonymous No.53850471]

>>53841026
Fuck this crab dumping piece of trash coin. Going down faster than you can say double spend.

[Anonymous No.53850607]

>>53850356
Good point raised, diversification will help investors from loosing a sleep over a failed project, i hold about 10 different tokens including trump and skyjack NFT.

[Anonymous No.53851123]

Lol sol is down again btw...it doesn't even make it dump anymore