Jump to content

i lost12k xrp catching ups and downs


ripple37
 Share

Recommended Posts

2 hours ago, AbeFroman said:

This is the answer.

Day trading in crypto is probably the dumbest thing you can do (unless you want to lose your money) As an asset class, it’s far more volatile than for example the 3x leveraged commodity ETF’s (which most professional day traders don’t trade since they are so volatile). For a retail investor day trading crypto may seem like a no-brainer easy way to make money but with this amount of volatility, massive potential for market manipulation, fluctuating daily liquidity, the guys who day trade for a living wouldn’t touch this with a 10-foot pole. 

Link to comment
Share on other sites

STOP TRADING.....

with what we know about ripple/xrp now why anyone would sell at anything less then $10-100 is beyond me......??‍♂️

Unless you bought a ton pre jan17 just sit down and hodl

Link to comment
Share on other sites

On 9/22/2018 at 2:48 AM, ripple37 said:

what should i do to stop that ? it seems that i loose sober thinking

Look at the hourly charts only (1 and 4);  force yourself to check the charts no more than three times per day.  Set your stop for the bottom of the current wave, or go with the bottom of the previous wave.  If you are looking to enter, then either look for a breakout to the top side and set your entry there, or look for a bounce up close to the bottom of the previous wave and enter setting the stop for the bottom of that wave.  Move your stop upwards once the wave formation advances thereby locking in your gain.

Always remember that getting in and out of trades will cost you 1-2% after exchange fees and spread.  Trading with 1-3-5-15 min data will cause you to cycle though trades much too quickly and you will get killed by the fees; look at long term trends instead to minimize your trade cycling.

Lastly, exercise care trading on weekends as the volume is usually too low to create a sustained momentum, meaning that the market will be primed for pump-n-dump & false signal movements.

Good luck!

(or you can just hodl )

Oh yeah - one more thing - do not get greedy.  You get greedy, you set your buys/sells too aggressive, you get effd.   Protect your gain, but give your position room to breathe.

Edited by automatic
Link to comment
Share on other sites

On 9/22/2018 at 3:14 AM, Mikhail_Liebenstein said:

Buy a Ledger Nano (and a spare).

Set up the 24 Word Seed and  pin for the Ledger via Ledger Software on the Pc/MAC and install XRP on it.

Record the seed words safely. Write them in order on the pages of a an old book that you won’t throw out.

Then erase the Nano by getting the pin wrong 3 times.

Put the book safely on a shelf. 

Give another book with 12 of the words in to a friend/relative and tell them not to throw it away. And do the same with the other 12 words with a person they won’t know.

As extra security Buy a password manager (F-Secure Key, LastPass , Keeper) and put a copy of the words there too. Or put them in an encrypted Word doc/WinZip and store in the cloud ( a few copies).

Forget about them.

Just look at the book occasionally on the shelf!

 

..until the house gets water/fire damage

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.