/biz/ - Business & Finance

[Anonymous No.54248502]

How do avoid being in bitcoin when this happens?

A lot of times I’m trading bitcoin (without leverage) just for scalping, but sometimes a big red candle like this appears out of nowhere

Is it just about luck to not get caught in that?

[Anonymous No.54248555]

>>54248502
>How do avoid
zoom out.
next thread please.

[Anonymous No.54248560]

>>54248502
Stop limit

[Anonymous No.54248597]

they happen on low volume profile price ranges. you can't know if it's going up or down, but after it starts moving over one of these ranges it's pretty good chance you'll know the floor or ceiling

[Anonymous No.54248689]

>>54248560
Maybe a Stop Market for a crash like that. But honestly during a bull market just hold and when indicators starting flashing warning set a stop-loss.

[Anonymous No.54248990]

learn to suck BBCs, suck off delicious BBCs, suck and fuck juicy glistening ginormous king-sized lingling BBCs

[Anonymous No.54248994]

market patterns are fractal. when they get smaller and smaller in timespace they erupt in moments of polarity. good luck nigger

[Anonymous No.54249018]

you can't, generally, because to avoid those you also avoid the moves up, which make up 75%+ of bitcoin's entire growth in the past decade.

[Anonymous No.54249032]

>>54248990
JIDF

[Anonymous No.54249048]

>>54248502
sell when you chicken out

[Anonymous No.54249087]

>>54249032
Fucked to extinction and then to a slow and painful death in our planned Global Race War, more painful and horrifying than WWII and WWI combined.

[Anonymous No.54249128]

>>54249087
if only non-europeans/non-asians were capable of self sufficiency you might be right, but when the walls go up, virtual or not, they all cease to be.

[Anonymous No.54249185]

>>54248502
It's not 100% unavoidable. Don't scalp on days when important news happens like the FOMC announcement tomorrow and don't trade during the weekend.

[Anonymous No.54249505]

Big wipes like this ALWAYS happen during consolidation. You need an indicator that can point out consolidation for you. A good tip is to get an indicator, go to the past to a point where a major crash/drop happened, then look at the variables in the indicator. When that indicator repeats those variables.....DON'T TRADE!

Tradingview has like 100k indicators made by people. I'd suggest just trying random ones or searching "consolidation" or "Volatility" and give those a shot. Remember you can adjust the indicators. Sometimes the vanilla settings won't work for what you are looking for.

[Anonymous No.54249581]

>>54248689
stop markets get processed after stop limits if you're using a cex, your welcome noobs I just saved you a huge loss

[Anonymous No.54249583]

>>54248502
just buy and hold

[Anonymous No.54249609]

>>54248502
the volume is too high for individuals or groups to do that so you almost always see it coming if you know where to look

[Anonymous No.54250320]

>>54248560
fpbp, these things can often be predicted but sometimes they literally come out of nowhere (some whale needing money for a yacht, some piece of news that causes panic), you need to set a stop loss of at least 75% of your original investment

[Anonymous No.54251603]

>>54249581
This. Just give it enough space and its fundamentally a stop-market.

[Anonymous No.54252826]

>>54248502
dumb zoomer

[Anonymous No.54252854]

Don't be 100% all in on Bitcoin if sudden drops bother you.

[Anonymous No.54252880]

>>54248502
Don't trade market opens/closes where 90% of these patterns come into play. Always set mechanical stops the second you enter a position. You're stop is 1000x more important than your take profit

[Anonymous No.54253145]

>>54248990
Blessed post

[Anonymous No.54253294]

Sell at the top in two years.

[Anonymous No.54253493]

>>54253294
you mean -two years. the top's not coming back unless you don't mind selling for a catastrophic loss against btc/eth, enjoying your hollow, inflated dollar "win".

[Anonymous No.54253564]

>>54253493
Two more weeks

[Anonymous No.54253635]

>>54248502
You can't avoid it, especially in Bitcoin. If you use stupid they'll just trigger it and move back up. Very, very few people can make money trading over a long period of time. You'll be lucky to break even. I traded Bitcoin over a monthly timeframe successfully, thinking I did well, but if simply held the Bitcoin, I would've done better.

[Anonymous No.54253738]

>>54248502
you're gambling
that's it

[Anonymous No.54253763]

>>54248990
Keyed.

[Anonymous No.54254701]

>>54248689
really? what happens if you set a stop loss at like 20k btc and it drops so fast that your stop loss isn't filled? will it fill at 19.8K? i've never used stop loss lol

[Anonymous No.54254708]

>>54251603
>>54254701
gotcha, nvm, i see how it works, thanks nerd

[Anonymous No.54256727]

>>54248994
delet

[Anonymous No.54256753]

>>54254701
if someone were to sell enough BTC in a single order to completely evaporate the book, your 20k market stop could trigger at like, literally 3k.

[Anonymous No.54256760]

>>54248502
Just sell before it happens

[Anonymous No.54256913]

>>54248502
I will drop some alpha on you. The key is to realize the following:
Except for major events, the entire crypto price action is driven by centralized exchanges intentionally liquidating inexperienced high leverage traders. There are tools that estimate where those liquidation levels are. Good luck.

[Anonymous No.54257217]

>>54256913
Sauce on website, also thanks in advance nerd

[Anonymous No.54257457]

>>54248555
>zoom out
wrong
>>54248560
>Stop limit
wrong
>>54248689
>Stop Market
wrong
>learn to suck BBCs, suck off delicious BBCs, suck and fuck juicy glistening ginormous king-sized lingling BBCs
this
with diamond hands niggers

it will always revert to mean eventually

[Anonymous No.54257663]

>>54257457
Vpn cuck lmao, kys faggot

[Anonymous No.54258227]

>>54248689
what are these indicators? where do i find them? and not the 50/50 shit on google, the REAL indicators that are 99% accurate

[Anonymous No.54258334]

>>54248689
easy to say
what indicators?

[Anonymous No.54258771]

>>54258227
>>54258334
You can't use small time frame, only large ones, you also can't rely on a single one. You have to look at like 10 to 15 different ones and see which way is more likely as no one knows for sure. I can't think about many now but try the stochastic rsi, don't look at anything but weekly, or higher, look at fractal patterns too, 200 Moving average, etc. Just lurk more and ignore the retarded shit, super guppy, pi cycle indicator. Mz bitcoin oscillator.

[Anonymous No.54258988]

Keep track of the key psychological numbers, and if you're approaching one that hasn't been touched in a while + it's a somewhat recent reversal, you're going to end up with a ton of longs being liquidated all at once, which cascades and causes those candles.

tl;dr watch for the local trend reversing from the longer-frame trend and approaching psychological numbers

source: i made it up, but thats what i do and it works

[Anonymous No.54258999]

>>54258988
Also works to catch big candles in the other direction too

[Anonymous No.54259001]

>>54248990
gem

[Anonymous No.54259069]

>>54248502
it's easy, just lie about your positions on the internet for attention or to feel better about yourself. just say it was obvious this would happen and that you went short before. after it bounced back, pretend you caught that too. really simple stuff

[Anonymous No.54259076]

>>54256753
no it wouldn’t, to evaporate the book they’d have to work through his $20k sell order, brainlet

[Anonymous No.54259099]

>>54258988
Well, fuck, it usually works

[Anonymous No.54259586]

>>54259076
Is a stop market or stop limit better? I am confused now bc some people are saying market is bad

[Anonymous No.54261414]

>>54248994
>market patterns are fractal
Not 100% or even 50%, only sometimes.

[Anonymous No.54261709]

>>54248502
>How do avoid being in bitcoin when this happens?

ALWAYS have a trailing stop loss set $100 below current price, this will ensure you only ever make money and never lose it.

[Anonymous No.54262212]

>>54258227
Lol there are no 99% indicators idiot. Indicators just rehash price data through a formula with pretty colors to make retards think they can magically predict the future.

[Anonymous No.54262246]

>>54258227
test indicators using the probability distribution histogram to determine which ones are like pulling the lever on a slot machine