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WallStreetWolf

XRP dropping mad

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12 minutes ago, 1todd960 said:

Dropping mad?  I suggest just checking on XRP once a month if a dime drop makes you concerned.  We are in a bullish uptrend.  Get your chart off the small time frame to avoid all the noise.  Go to daily and just forget about it.

He just bought his first big investment as XRP. :)  I think he got the bigger picture.

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38 minutes ago, WallStreetWolf said:

I am just curious how it works. Why would people sell it if it goes down? 

Perhaps what you are seeing is the XRP/BTC pair.  BTC is rising so from a graph perspective it is going down because the same value of say... 2.00 now buys less of 1 BTC at 14,800 instead of 13,600.  The overall value isnt really changing all that much because the USD value is more or less the same  2.00 - 2.10

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40 minutes ago, WallStreetWolf said:

I guess you're right. My first huge investment so it is somewhat scary to see it drop. 

Dropping? It's up...

If you're thinking 2-3% swings are scary enough to post about, you're going to have a rough trip moving forward. 

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35 minutes ago, WallStreetWolf said:

As mentioned above by everyone, I shouldn't check the minute chart, typical newbie mistake that I have just learned!

1 min charts are just PURE NOISE. You should avoid them.

1 hour charts are the minimum time frame I would advise.

Daily/4H charts are the perfect fit for swing traders or long term investors looking for good entry points.

And remember, what looks like dropping in one time frame may just be a pull back to support area in the larger time frame. Hence the need to zoom out in order to get the bigger picture.

Edited by Teva

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55 minutes ago, WallStreetWolf said:

As a rookie trader, why is XRP dropping harder then Snoop Dogg right now?

 

51 minutes ago, WallStreetWolf said:

I am just curious how it works. Why would people sell it if it goes down? 

People are sheep and sell when it goes down because of fear to loose more. After all who knows, good times might be over, better get out now.

Also, it's normal for sell orders to push down price a bit. Some people made enough money and are now cashing out. Others... need to wait for the big cash out.

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I appreciate the advice in this thread. I am not a trader but I am not new to investing, however, sometimes I can get stuck in the play by play. It's going to be a great year.

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23 minutes ago, Skunkape said:

Dropping? It's up...

If you're thinking 2-3% swings are scary enough to post about, you're going to have a rough trip moving forward. 

HAHA  Yeah you haven't lived through a cryptocrash.  I think most of us have gone through about 4 in the past 6 months.     It can be nerve racking.

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1 hour ago, jag216 said:

Really. The crypto space in general is warping the expectations of an entire generation of investors.

Well said...

I remember when 20% growth in stocks over a year was fantastic..(still is)   In crypto, some traders sell their entire stack if they don't see 20% growth for the week!  

Ripple is beyond any annual growth I've experienced in twenty years of investing...and the train is just leaving the station. 

HODL young one, HODL !!!

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Just now, ThinThread said:

Well said...

I remember when 20% growth in stocks over a year was fantastic..(still is)   In crypto, some traders sell their entire stack if they don't see 20% growth for the week!  

Ripple is beyond any annual growth I've experienced in twenty years of investing...and the train is just leaving the station. 

HODL young one, HODL !!!

this is so true. I've said it many times. Crypto has the ability to make or break millennials depending on their patience and wisdom. 

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