Crypto Blowing Up

slokor · #**1145** 01-01-2022

Yeah those kind of trades are risky as hell... Im sorry for your loss...
I myself never dabble in those. Swap trading is the least risky way of doing things - especially if youre dealing only in the big coins.

Soundofsilence · #**1146** 01-01-2022

Thanks. I appreciate your advice. Trying to recover emotionally. It was $520 but it was all I had after some major crash due to poor financial management. Will be back with x125 patience instead of x125 leverage.��

alhabking · #**1147** 01-01-2022

Quote:

Originally Posted by Soundofsilence

Thanks. I appreciate your advice. Trying to recover emotionally. It was $520 but it was all I had after some major crash due to poor financial management. Will be back with x125 patience instead of x125 leverage.��

125X is ridiculous. The liquiditation price is very very small unless you significantly top up your margin.

You can make a comfortable living off 8-12X leverage, whcih is what I always use. For BTC i use 28X leverage and Eth I use 18X leverage.

If you are patient, you will have been enough money by just topping up your margin so your liquidation price is something extremely small.
Today I made around $250 off longing BTC at 46K with 25X leverage and made $177. My liquidatation price was $6,000. I also longed SOL at $171 and sold just now for $177.5 and made like $80.

I used to make $3-4K a week back in April to July till I got extremely greedy and lost 70% of my gains from 4 months of trading. I think I lost like $11K in two trades after I put way too high of an exposure by increasing the amount in my trade. This meant my liquidation price was too high that it should be. If I didnt pile in too much in those trades I would have easily survived and walked away with a profit with a few days of holding but I got extremely impatient.

Nowdays, I am happy with $600-$800 a week as I also have my 9-5 and im a gym addict these days

**SaiJin** · #**1148** 01-01-2022

I'll stick to being a coward and just hold what I have.

slokor · #**1149** 01-01-2022

Quote:

Originally Posted by Soundofsilence

Thanks. I appreciate your advice. Trying to recover emotionally. It was $520 but it was all I had after some major crash due to poor financial management. Will be back with x125 patience instead of x125 leverage.��

Patience is always key.
Always try to minimize your risk.
Luckily the amount wasnt all that high (relatively speaking). Just learn from your mistakes and do better in the future.

**SaiJin** · #**1150** 01-03-2022

Hmm... this makes me wanna go and find a trader who can manage my account.

slokor · #**1151** 01-03-2022

Opportunity forming on the BNB/BTC pair.

**SaiJin** · #**1152** 01-03-2022

Quote:

Originally Posted by slokor

Opportunity forming on the BNB/BTC pair.

So you just buy between crypto without cashing out whatsoever huh?

slokor · #**1153** 01-03-2022

About to create my BTC seller thread on here in the coming days - so will sell a tiny bit of it

Soundofsilence · #**1154** 01-04-2022

Quote:

Originally Posted by slokor

Opportunity forming on the BNB/BTC pair.

So what I understand is, you do binance liquid swap trading ?

I think I am wrong. What option you use on binance when you say swap trading is safer way to do things

slokor · #**1155** 01-04-2022

Just straight up swapping one coin for another.
I have BTC - I switch to ETH - and back again. Or to any of the top 5 coins.

yankee · #**1156** 01-04-2022

Quote:

Originally Posted by slokor

Just straight up swapping one coin for another.
I have BTC - I switch to ETH - and back again. Or to any of the top 5 coins.

So this is not a taxable event?

**SaiJin** · #**1157** 01-04-2022

It shouldn't be considering it's not from US$ rather between crypto

slokor · #**1158** 01-04-2022

Quote:

Originally Posted by yankee

So this is not a taxable event?

Depends on the country youre in and the regulations they have for such trading.

**SaiJin** · #**1159** 01-05-2022

@Nate

What's your prediction for BTC throughout 2022?

Soundofsilence · #**1160** 01-06-2022

xFun

https://i.redd.it/3f41a8lufro61.jpg

Should not we have NFT post as well ?

I think purchasing NFT worth more than investing in crypto. Anyone here has any experience in buying NFTs ?

yankee · #**1161** 01-07-2022

As expected Crypto is crashing. At what price do you guys feel it is a somewhat safe buy-in?

**SaiJin** · #**1162** 01-07-2022

I'm waiting to see if it'll drop below 40k. THen depends on the down trend. Either way it's already a good safe buy in.

james_112233 · #**1163** 01-07-2022

Quote:

Originally Posted by yankee

As expected Crypto is crashing. At what price do you guys feel it is a somewhat safe buy-in?

Wait until 20k.

yankee · #**1164** 01-07-2022

Quote:

Originally Posted by james_112233

Wait until 20k.

That is a target number for sure. Also looking to pick up XRP. I cant quite tell if this event is going to continue for months ahead or temporary and a bigger crash next year.

slokor · #**1165** 01-08-2022

You heard the man.
Time to sell everything you got and get out of crypto.
Guess the dream is over.
LOL!

james_112233 · #**1166** 01-09-2022

Quote:

Originally Posted by agent006140

Looks like Bitcoin will be below $40k next week,it is not an inflation hedge nor is it a store of value.
you could be looking at $28K sooner than later.
Fed will stop buying treasuries and raise rate 3-4 times in 2022,first one could be as early as March 1.

Give it a rest ....

It's just whales trying to get in at a good price. It will bounce back up in no time.