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Charting the course of XRP


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30 minutes ago, Julian_Williams said:

XRP seems to be proto pumping - if it goes through .75 we could see some nice gains?

Well Asia is opening in 1 hr or so...wheres the next resistance level? I thought it was 0.8x?

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1 hour ago, xrp-nuke said:

0.75 historically than ~1.10 downtrend.

Interesting week. I am flat at the moment but ready to jump back in. If the overhead resistance at .75 turns into support, we are probably in for a nice pump. Otherwise, if we get rejected, it is a great level to enter a short. The nuke could also be majestic. Very exciting.

Edit: Stumbled upon this and it reminded me of a few people here. xD 

E7fZo_OWYAQZT2x.thumb.jpeg.83b1632372a600108d08b198485bf718.jpeg

Edited by Troote
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2 hours ago, Ripley said:

My short term conspiracy theory - there will be a BTC/ETH pump ahead of Coinbase’s results on 8/10.

I had a sneaky suspicion with the wording of Ripple’s lawyer saying significant progress was made. I haven’t seen Jeremy’s video yet. Looking forward to watching it later today.

I’ll actually go a step forward with another conspiracy theory. My hypothesis is that the two SEC commissioners coming out with their opinion on lack of public clarity is Gensler doing the favour/right thing/practical thing with the Ripple lawsuit IMO.

Edited by Ripley
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53 minutes ago, Troote said:

Interesting week. I am flat at the moment but ready to jump back in. If the overhead resistance at .75 turns into support, we are probably in for a nice pump. Otherwise, if we get rejected, it is a great level to enter a short. The nuke could also be majestic. Very exciting.

Edit: Stumbled upon this and it reminded me of a few people here. xD 

E7fZo_OWYAQZT2x.thumb.jpeg.83b1632372a600108d08b198485bf718.jpeg

I think shorting just as rumours of settlement are looking likely to be true would be a brave move that could lose you a lot of money (but you could be right).  You did really well to get out of the market when you did, but holders would have the last laugh if afterwards you failed to re-join at a lower price and missed a bull run that eventually took XRP up to 5, 10 or 15 dollars.

Edited by Julian_Williams
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20 minutes ago, Julian_Williams said:

I think shorting just as rumours of settlement are looking likely to be true would be a brave move that could lose you a lot of money (but you could be right).  You did really well to get out of the market when you did, but holders would have the last laugh if afterwards you failed to re-join at a lower price and missed a bull run that eventually took XRP up to 5, 10 or 15 dollars.

Yes, I hear you, but no. I am done holding in this market, forever. I only trade with stops, implementing proper risk management methods. I can't "lose a lot of money" anymore. I would much rather miss out on a sharp price move. If I enter a trade, losses are capped and I now close my positions quickly after a winning trade. I capture the bulk of the move and leave the uncertainty and gambling "it is going to go up/down" narratives and predictions to others.

What the last 6 months have taught me is that holding s*cks. I am done with unmanaged directional bets. In April/May I have experienced losses north of $200k PER DAY by doing nothing (and similar gains as well, let's be honest). Although I grant you I exited relatively well, I still missed out on massive profits by not exiting at the right time because of the holding mentality, diamond hand and the die hard habits I kept from investing in 2017.

Anyway. I may be opening a different trading thread to offer a different perspective, where I happily sh*t on TA as it is usually practiced in the crypto world, repeating ad nauseam that NOBODY knows if the price will go up or down and focus instead on risk management. I might, if I feel comfortable it is working. Or maybe not, I am not sure I would have the patience.

Edited by Troote
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2 minutes ago, Troote said:

I have experienced losses north of $200k within 24h period by doing nothing. Although I grant you I exited relatively well, I still missed out on massive profits by not exiting at the right time because of the holding mentality

Seems like you just didn't hold long enough? Good luck with new thread 

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4 minutes ago, RandyMarsh said:

this is called being bullish long term. Nothing wrong with it, but maybe not a strategy that works for you. 

No, that does not work for me. Actually I would not even call this a ""strategy"" because there is no guarantee the expected price action will actually play out as expected. This is just gambling.

What would you say to someone who has sold 70% of his BTC/ETH and still posts videos every 3 days about how XRP is going to the moon, non-stop from the very top all the way to the bottom of a 70% crash? I call these people frauds. Some here call them heroes.

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1 hour ago, Troote said:

Interesting week. I am flat at the moment but ready to jump back in. If the overhead resistance at .75 turns into support, we are probably in for a nice pump. Otherwise, if we get rejected, it is a great level to enter a short. The nuke could also be majestic. Very exciting.

Edit: Stumbled upon this and it reminded me of a few people here. xD 

E7fZo_OWYAQZT2x.thumb.jpeg.83b1632372a600108d08b198485bf718.jpeg

Indeed. Believe me or not but now I looking towards that downtrend. Market was too hot whole this week.

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4 minutes ago, Troote said:

No, that does not work for me. Actually I would not even call this a ""strategy"" because there is no guarantee the expected price action will actually play out as expected. This is just gambling.

What would you say to someone who has sold 70% of his BTC/ETH and still posts videos every 3 days about how XRP is going to the moon, non-stop from the very top all the way to the bottom of a 70% crash? I call these people frauds. Some here call them heroes.

50k we are in bull market

40k we are in bull market

30k we are to do v shape just right now

35k told you

40k we never see 30k again

35k we are in bull market

30k we are in bull market

28k we maybe in a bull market

35k told you we are in a bull market 

🤣🤣🤣🤣

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30 minutes ago, Troote said:

No, that does not work for me. Actually I would not even call this a ""strategy"" because there is no guarantee the expected price action will actually play out as expected. This is just gambling.

What would you say to someone who has sold 70% of his BTC/ETH and still posts videos every 3 days about how XRP is going to the moon, non-stop from the very top all the way to the bottom of a 70% crash? I call these people frauds. Some here call them heroes.

Fraud is a very strong word. You’ve agreed that this is all gambling. To each their own. Your strategy is tuned for constant volatility. Which is what happens almost 99% of the time. It’s a good strategy. It doesn’t work when fundamentals change. That 1% of the time when market crashes big or goes up big.

And it’s perfectly okay to say that the profits from 99% of the time outweigh the possibility of the 1%. Just as it is okay to find periods of consolidation post crashes to get in at good prices. 

You may be looking to make profits in as many trades as possible. Others may have a constant source of income and may be a lot more comfortable continuing to invest at what they consider to be cheap prices. Everyone has their own risk profile. Perhaps they have several other investments and if their crypto goes down, they reduce their tax liabilities against other assets. 

Perhaps they took a LTV of 10% as loan for a 1% interest rate. May be they got in at 0.006 and don’t care about a 2x up or down.

Let people do what they like. By all means claim to have a good strategy but don’t call people frauds. 
 

Edit: To be clear, misleading people about pumps and dumps is fraudulent, more so if they’re taking money (even if indirectly through ads). I fully agree with you there. It’s just as misleading/fraudulent to do the same thing by saying TA always works in this manipulated gambling. If my reaction feels strong here, it’s because I sensed an almost hatred or vilification of those who don’t agree with your strategy, in your post. I have no wish to get into a fight and that wasn’t the intent. I probably agree with you 99% on all your points.

Edited by Ripley
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15 minutes ago, Troote said:

No, that does not work for me. Actually I would not even call this a ""strategy"" because there is no guarantee the expected price action will actually play out as expected. This is just gambling.

Of course there is no guarantee... and no it's not gambling. 

"What would you say to someone who has sold 70% of his BTC/ETH and still posts videos every 3 days about how XRP is going to the moon, non-stop from the very top all the way to the bottom of a 70% crash? I call these people frauds. Some here call them heroes."

No clue, that's not really what I was talking about. But if that's what you were talking about, then I agree. 

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17 minutes ago, xrp-nuke said:

Indeed. Believe me or not but now I looking towards that downtrend. Market was too hot whole this week.

Couldn't you trade like this with any coin? Curious why XRP get so much of your attention (you dedicate big part of your life talking on xrpchat) when you could find volatility to trade with in any coin.  

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