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Charting the course of XRP


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Just now, Baka said:

always sell when there is a pump , I've learned that .

It's profit taking , sold at 0.31$ , rebought at 0.27$ I could have waited more to rebought at 0.22$ or even lower if it goes lower.

Most of the times yes.

But I remember losing in a trade at december 11th 2017 when I sold, waiting for the resistance to bounce back down but it broke trough it at $ 0,30 while watching football at a friends place. It did not break that level since the pump in march 2017 so I knew this one was going up... having to buy back in 6k XRP less. That lesson made me more of a hodler since then.

That's the danger. I made some zerps in the months before, and lost a big part of what I made trusting resistances...

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10 minutes ago, Baka said:

always sell when there is a pump , I've learned that .

It's profit taking , sold at 0.31$ , rebought at 0.27$ I could have waited more to rebought at 0.22$ or even lower if it goes lower.

If it goes under 0.2$ , I'll buy more. if it goes to 0.3$ again ? I'll sell more

I'm making $ , not that much , but not losing at least

That's a good strategy. You'll likely be right every time until the market finally turns. Probability is on your side. When the market turns you'll likely have time to buy back in even if you sell at what you think is a top.

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14 minutes ago, Caracappa said:

Most of the times yes.

But I remember losing in a trade at december 11th 2017 when I sold, waiting for the resistance to bounce back down but it broke trough it at $ 0,30 while watching football at a friends place. It did not break that level since the pump in march 2017 so I knew this one was going up... having to buy back in 6k XRP less. That lesson made me more of a hodler since then.

That's the danger. I made some zerps in the months before, and lost a big part of what I made trusting resistances...

same for me , I remember selling at 0.41$ the 13th of December 2017  , and rebought at 0.55$. 

BUT , I know we re going down since and now I take more risks and it didnt fail me yet

Edited by Baka
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10 minutes ago, AlejoMoreno said:

That's a good strategy. You'll likely be right every time until the market finally turns. Probability is on your side. When the market turns you'll likely have time to buy back in even if you sell at what you think is a top.

yes , and I don't sell 100% of my stash but a good % since I don't hold big amounts .

I used to stress a lot , now I don't care anymore and it's way better this way

Edited by Baka
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If was a whale that controlled BTC, I would have called my other whale bros and pumped BTC hard starting on Monday 2/24/2020 to make it look like big money was moving out of equities and into crypto as a safe haven due to the Coronavirus. The idiots in the mainstream media would have lapped it up and reported on it nonstop because they are idiots and retail investors would followed suit moving money into BTC. Could have started the next  mega bull run and get super mega rich. I wonder why BTC market manipulating whales chose instead to drop the price and damage the perceived notion that BTC is a safe-haven and store of value. 

:dthinking:

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Update on the daily chart.  The downtrend continues, following suit with all risk assets as they (over)react to the coronavirus.   If you want to try and find some solace somewhere, there is an intermediate trend line that we bounced off of and this would be as good a point as any to start to build back up.  If we truly had a bullish reversal in December, then it would follow that we would stay above this line.  Hard to see any positive possibilities with all the drama but, if you tune it all out, this could just be a normal correction of the bullish run from $0.17 to $0.34.  It was, after all, a 100% gain in a little over a month.  For most assets, that would be quite a significant run, though we all know crypto is a different animal.

On the virus front, I would point out that there have been 62 or 63 cases in the US and zero fatalities.  I don't think the fatality rate has been exaggerated downward, I think it has been artificially elevated by the terrible health systems in China and Iran.  Not saying it isn't going to spread (it is), but it is not going to be the world-ender that the financial markets would have you believe.  I will be piling into US and international equities in the not too distant future.

8UQ49yrL

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45 minutes ago, Molten said:

Update on the daily chart.  The downtrend continues, following suit with all risk assets as they (over)react to the coronavirus.   If you want to try and find some solace somewhere, there is an intermediate trend line that we bounced off of and this would be as good a point as any to start to build back up.  If we truly had a bullish reversal in December, then it would follow that we would stay above this line.  Hard to see any positive possibilities with all the drama but, if you tune it all out, this could just be a normal correction of the bullish run from $0.17 to $0.34.  It was, after all, a 100% gain in a little over a month.  For most assets, that would be quite a significant run, though we all know crypto is a different animal.

On the virus front, I would point out that there have been 62 or 63 cases in the US and zero fatalities.  I don't think the fatality rate has been exaggerated downward, I think it has been artificially elevated by the terrible health systems in China and Iran.  Not saying it isn't going to spread (it is), but it is not going to be the world-ender that the financial markets would have you believe.  I will be piling into US and international equities in the not too distant future.

8UQ49yrL

I agree the reaction may be worse than the bite, but the damage of the reaction will probably run into months which is long enough to be fatal blow to a lot of otherwise healthy businesses; airlines, cruise liners, tourist venues, hotels, restaurants, concert halls, sport venues, manufacturing ...the list is going to be a long one and this might ripple through into a financial crisis.  We will see.

My wife has cancelled her scheduled trip to Japan, I have delayed booking my visit to Italy...and we are not particularly worried about the disease, we are worried about getting home after our trips.

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3 hours ago, Molten said:

Update on the daily chart.  The downtrend continues, following suit with all risk assets as they (over)react to the coronavirus.   If you want to try and find some solace somewhere, there is an intermediate trend line that we bounced off of and this would be as good a point as any to start to build back up.  If we truly had a bullish reversal in December, then it would follow that we would stay above this line.  Hard to see any positive possibilities with all the drama but, if you tune it all out, this could just be a normal correction of the bullish run from $0.17 to $0.34.  It was, after all, a 100% gain in a little over a month.  For most assets, that would be quite a significant run, though we all know crypto is a different animal.

On the virus front, I would point out that there have been 62 or 63 cases in the US and zero fatalities.  I don't think the fatality rate has been exaggerated downward, I think it has been artificially elevated by the terrible health systems in China and Iran.  Not saying it isn't going to spread (it is), but it is not going to be the world-ender that the financial markets would have you believe.  I will be piling into US and international equities in the not too distant future.

8UQ49yrL

I'd be interested to know which equities you're piling into.  This market pullback or correction related to the virus as opened up quite a few entry points.

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2 hours ago, Julian_Williams said:

I agree the reaction may be worse than the bite, but the damage of the reaction will probably run into months which is long enough to be fatal blow to a lot of otherwise healthy businesses; airlines, cruise liners, tourist venues, hotels, restaurants, concert halls, sport venues, manufacturing ...the list is going to be a long one and this might ripple through into a financial crisis.  We will see.

My wife has cancelled her scheduled trip to Japan, I have delayed booking my visit to Italy...and we are not particularly worried about the disease, we are worried about getting home after our trips.

Speaking of Japan, I read that the entire country has cancelled schools until further notice.  Probably a good idea as children are especially vulnerable due to their weak immune system.

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34 minutes ago, NorCalguy said:

I'd be interested to know which equities you're piling into.  This market pullback or correction related to the virus as opened up quite a few entry points.

I generally stick with index funds to buy the whole market.  Airline stocks are probably going to be a good buy in the coming months.

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Just now, NorCalguy said:

I don't know much about airline stocks.  Name a couple you'd recommend.  :)

Well to be honest, I'd probably just look for an airline ETF (JETS is one I just found).  Otherwise you'd have to research the individual companies, which is too much time for me :P

The play here is that airline stocks are getting clobbered by expectations of massively slowed airline travel due to the virus.  When this ultimately passes, it will be business as usual and they should recover quite nicely.

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1 hour ago, Molten said:

The play here is that airline stocks are getting clobbered by expectations of massively slowed airline travel due to the virus.  When this ultimately passes, it will be business as usual and they should recover quite nicely.

Sorry to go off topic here but, I gotta pick your brain now that you made that example. 

Why is it like this? If it’s something so basic, why aren’t more people doing the whole “buy on TEMPORARY bad news, and sell when it inevitably recovers”?. Aren’t people who trade stocks generally educated on this? Can’t imagine your everyday person just trading stocks in their spare time and causing crashes. 
 

I’m obviously missing something. 

Edited by Neurotoxin
Typo
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