Archived threads in /biz/ - Business & Finance - 3999. page

Part 2/6
Then you need a set of rules, e.g.:
- set stop-limits every! fucking! time! you buy into something
- don’t buy at or near a new ATH (rarely goes well)
- always have a valid reason for buying (no, "/biz/ said it’s going to moon" is not valid)
- never rely on single platforms alone - reddit, twitter, bitcoin forums, /biz/, blogs, news-sites etc. are very good if used together (stay away from zerohedge tough – tinfoil alert)
- never focus on a single coin alone; diversify in at least 2 time horizons (1-7 days short (ST); 2-4 weeks mid (MT); 1-12 months long term (LT)) & reevaluate them accordingly
- never!!! daytrade with more than 5% of your funds per week/month, if you are not consistently in the greens with these 5%
- if you are in a ugly situation (like having >50% of your stuff being stuck) and NOT in dire need of money: HOLD THE COIN! The market is exploding and the burst of the bubble is months if not years away, you will at least get your money back, if you did not buy useless coins on small platforms

IMPORTANT!
Stop-limit-orders are not a joke, they can literally save your ass! Set one at e.g. 95% of your entrance point/adjusted to the current price, when you are away from the computer or watching a movie etc. Yes, sometimes it is only a short bounce and you lose some money or profit, while the value goes bonkers afterwards - but most the time, it just prevents you from heavy losses or missing opportunities to sell your stuff at a good price, because you were sleeping/shitting/suffocating on a Cheeto while wanking on your possible profits while selling on a ATH.

Part 3/6
Now you could start to trade with e.g. an excel-sheet, where you insert the buy of a coin and a sale when you sold it. This is called "paper trading" and for just getting a feeling for it. Do this for some days, while you are learning the basics of analysis. Then start with small amounts - 10 dollar, maybe 50. If you are comfortable with that, pimp it up with stocking it up with the same amount per week or month. If you lose some, it won’t hurt and if you gain some, it is a sense of achievement.

Keep in mind that there are days where you look at the charts and say "Yay, nothing to do here but to adjust my stop limits", as everything is green and fine. And then there are days, where you see all your stop limit orders triggered, because everything is falling into abysmal depths.
Both days are cool, because the first one nets you profit and the second one cuts short your losses or triggered taking profits to enter again. Because remember: "if there is blood in the streets, it is good to buy". This say was true when Baron Rothschild made a fortune in the 18th century (I am not implying something anti-Semitic here, he indeed said and did this).
Start to think this way and you get a boner when thinking about crashes.

Also, remember that the meme "HODL" or "hold your coin" only applies to people that bought at a low price and are in the green even in the middle of a crash and the ones that bought at a high price and did not place a stop limit order. The first ones know that the price will rise further & holding the coin will enlarge their gains later. The second ones know that the high times will come back and then they can keep their losses small by holding the coin until then. There is little to no reason to see a coin crashing and not cutting your losses/grabbing the profit so far and buying back in, when the foothold is confirmed.

Part 4/6
Let’s get to some general security measures:
On every exchange, take your mobile and enable 2FA (two factor authentification). That way, when you want to withdraw cryptos, you need to enter a code from your mobile which changes every minute. So even if your PC somehow gets compromised, an attacker is not able to steal your money, except when he also steals your mobile. 2FA is the easiest and most efficient way to secure your stuff on an exchange. There is absolutely no reason to go without it and it should be the first thing to do after registering at an exchange.

Also, keep your computer safe. Better not watch that pron from the dubious website on the same computer you do cryptos with. Or at least use a virtual machine for this and be much much safer. It is easier than you might think of. I am a finance guy and even I learned it with some tutorials from YouTube.

If you start to store coins on your own wallet for holding them long term, make sure you have offline backups. And a backup from the backup. Store them in at least 3 different SAVE locations (e.g. one at your parents’ house, one in the cellar behind a brick and one at bank in a locker etc.). Be aware of the dangers of doing this with HDDs, as they less resistant to damage than a stick.

Be paranoid. You are handling money and the number of scammers is huge. You can discuss and talk with other people on the internet like you always do, but never give out personal information (except your wallet address - besides someone sending you coins, nothing can happen). The "send me your coins, I double them"-scam is nothing but bullshit, but people still fall for it more often than you might think. Be aware of these things, even with dealing with people you write often with. Social engineering is an art for itself, which is mastered by many scammers and conman, just to trick you out of your stuff without you realizing it being bad.

>>2512957
Jesus christ it's still going...

Almost 400k now.

Good thing I didn't buy in.

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>>2512981
DONT

STOP

ME

NOW

>>2513001
>>2512957
These people are going to get burned hard a week from now, just calm the fuck down.

Oh cool are they lying about who they are working with again?

wtf are you talking about??? is it about nxt?

>>2512951
Fcking QRL, literally one of the worsr investments I have made.

I fucking sold my patientory and ANS last night,

fuckkkkkk

>>2512694

Too bad anon, but I mean it'll keep rising so maybe you should buy again?

>>2512694
if it's really mooning even higher in the coming too days then now might still be a good re-entry point. thinking about adding to my position.

>>2512450
never hold

>>2512450
you should have sold the peak and buy the dip

forget the graph and the processed order list

watch the bid and ask orders and look for obvious mega walls which indicates whales will sell

dont immediately sell because whales usually wait a bit to see if the wall they put up gets taken down or not

if the coin stagnates for 1min or even 30 seconds, just sell

makes sure to buy the dip

>>2512450
This is a short term coin just like QRL, you will make massive gains but don't be greedy

>>2512439
i dunno what the last logo is m8

>>2512451
storj coin

ETC can compete with ETH once the blockchain is more widely adopted.

>>2512451
storj. OP is saying it will go to 3200$ per coin.

>>2512426
https://ethereumclassic(dot)github.io/blog/2017-06-17-icos/

just left ptoy, gonna sell my sia and maybe catch this

>>2512426
no lol

>>2512336
Bad morning here bitcoin won't brake ceiling and I'm all in on RDD

>>2512336
Just sold this shitter. Now when ant shares is booming, ubiq has nothing to offer

i posted in a couple UBIQ threads last week saying that Antshares is a superior investment

hope a couple guys listened

>>2512333
It's a good compromise.

Just bloody get Segwit going then we can have Lightning and BTC can keep its rightful crown as king of crypto.

>>2512333
I don't like ver or wu, but the only solution I see that isn't kicking the can down the road would be dynamic block sizes.

Unlimited couldn't code a soda machine, but it can't be that hard to get that going properly.

i just hope i will not lose my coins
i have them in multibit wallet and did not touch them for years

>>2512274
Whales don't deserve 10x on their vaporware coin. I spit on its grave

Buy now.

bat seems like a worthless retarded idea

can somebody convince me otherwise?

That would be me sir

>>2512245
how pissed on a scale from 1 to 10 would you be, if by next year, ETH would 10x again and you missed the money for a 2005 BMW that you wanted to buy today?

>selling on the week TWO ETH BASED ICOS BECOME AVAILABLE TO THE PUBLIC

Explain yourself, OP.

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>>2512144
>Last 12 months vs Google trend "bitcoin crash"

>>2512144
so everytime it dips people look up bitcoin crash? nice news lad

>>2512172
They begin to search for it before it crashes. Dimwit.

NXS

Where is that image taken?

SC DGB EXP UBQ STRAT BTC XEM are my long bags.

ETH, NXS, STRAT, ARK

Good thing I'm holding both

Yeah, seriously just fuck my shit up, I'm on vacation but I'm miserable because I'm missing all these moon missions

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Yup

true

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>mfw 1 million dollar bitcoin

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>>2511872
>be me
>Invest around 5000 in months february untill now
>Now hold 20k
>be 2020
>I quit my job and start traveling the world.
>I now own more then 1 million usd worth in crypto
>be 2030
>the USD has collapsed
>crypto is mass adopted
>Be among the top 1%
>Have trouble raising your kid because he cannot learn about hard work and disappointment
>Overall happy but friends hate me for my financial success