Jump to content

Charting the course of XRP


Recommended Posts

  • Replies 17.7k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

There are actually several lawyers in the crypto space who have analysed the case extremely closely explaining how the case will likely play out. Given that these lawyers are either BTC or ETH maxis a

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

2 hours ago, banistersmind said:

I'd like to get some HBAR but my exchange Down Under doesn't list it. Boo! 

It’s on Coinspot...I’m down under. I find Coinspot to be an excellent exchange. Fast, responsive to queries, and super easy to use. 

Link to post
Share on other sites
1 minute ago, retryW said:

I've always seen Coinspot as the Coinbase of AUS, and BTCMarkets as the Binance

Do you mean you don’t like Coinspot? I also have Btc markets, but I find the interface of coinspot much easier. I’m not super techy

Link to post
Share on other sites
6 minutes ago, Chookstar said:

Do you mean you don’t like Coinspot? I also have Btc markets, but I find the interface of coinspot much easier. I’m not super techy

Sorry I should have elaborated. I have nothing against Coinspot. 

Coinspot is a more user friendly, click to buy style exchange similar to Coinbase, whereas BTCMarkets is more catered to "advanced" trading etc.  (in my opinion) 

I honestly have barely used Coinspot but my friends love it. 

I just stick to BTCMarkets as it's the first one I used. 

Edited by retryW
Link to post
Share on other sites

Not much to say right now, we are trading in a range. We will probably see a retest of support, maybe a stop run too, a quick drop to the low 80s and then a bounce back up. But any good news like a relisting or hints that the SEC wants to get out of this lawsuit will send it spiking. That's the risk you are taking if you trying to sell and buy back lower. 

4IO80rgW

Edited by Seoulite
Link to post
Share on other sites
10 hours ago, banistersmind said:

Well...I wouldn't say 'dont buy' - I'd like to gradually build on my small stash while I can. 

IMO the time for buying was either last year or this year when we were very in the red and even when we were around 50-55. I did buy some at 50 but then sold at 65 and bought back at around 50 again. No more buying after that. Sounds like you bought at the top last time and are still having tendencies of buying when it’s in the green rallying after all we’ve been through these years.
 

You buy the dip, not the rally. Repeat that 10x. 

Edited by Neurotoxin
Don’t mean for this to sound derogatory or harsh in any way, just trying to be cautionary. Pay attention to patterns, don’t get caught up in emotional buying, etc.
Link to post
Share on other sites
1 hour ago, Neurotoxin said:

IMO the time for buying was either last year or this year when we were very in the red and even when we were around 50-55. I did buy some at 50 but then sold at 65 and bought back at around 50 again. No more buying after that. Sounds like you bought at the top last time and are still having tendencies of buying when it’s in the green rallying after all we’ve been through these years.
 

You buy the dip, not the rally. Repeat that 10x. 

Sage advice here.

Link to post
Share on other sites

Easier said than done. When it's $1.00, you thought it's going to $.50, when it's $0.50 you thought it's going to $0.25, When it's $0.13, you thought it's going to $0.05.

You don't know the dip. You just don't. You don't even know if a coin will survive or perish. If it would, you're still in shackles, too scared to buy when it really "bottomed" because it's not you who make the market. So diversify, diversify, diversify.

That's life, live with it. For most coins, buy the fall back 3-4 days after an unusually big upward pulse with huge volume and it's a bull market without catastrophic events. And then you're not even aware of it when the bull market was here when it happened. Because you're still in shock and disbelief. For example, alts season really started on Jan. 2nd when BTC.D took a significant plunge and many people including some veterans still believed it just started recently, because at the time most people only paid attention to BTC and in awe of its "unexpected" rising and indulge in great joy.

The same will apply when to sell. You just won't sell the very top. You can't. Most people will sell 60% to the peak, either before or after. The rest will hold the bags for months/years and then they'll probably sell at the very bottom. 

Edited by MQB
Link to post
Share on other sites

I agree with @MQB that you will never really know when it’s peaking and therefore the thing to do in my opinion is sell tiny amounts all the way up.

You don’t obtain the very maximum that way,  but you do gain nearly all the way to the top instead of waiting for a figure that might not happen.

If you sell 3% every 15% rise (or greater...  (if it’s above and climbing let it go then sell when it turns,) then you can do that ten times and still have 70% of your initial bag.  Also your portfolio value was climbing even though you sold some.

The amounts aren’t very exciting (unless you are a large bag holder,) but they eventually add up and mean you haven’t watched the rise and fall without gaining something.

Keep some aside for buying in the near inevitable fall back down.  Just my plan.  Ymmv.

Link to post
Share on other sites

Let's call trying to sell and buy back what it really is: trading. It's not investing. Trading is a very different thing and the vast majority of retail traders lose money doing it. People study for years and pay fortunes (and lose fortunes) trying to make it work. You might get lucky if you do it once or twice, you might even get lucky if you do it 10 times, but do it long enough and you will lose overall unless you are very skilled and experienced. 

I don't daytrade crypto. I buy low and I sell high on timeframes of months and years. I built my xrp position down there and I'm not selling anything until we are up there. This is the safest way to make gains in crypto: buy and hold. I didn't sell when the SEC happened, maybe I should've. But I didn't. Instead I just bought more at the levels that I liked for buying. If you don't have extra money to put in I can see how it would be attractive to double your stack by selling. Looking back the SEC was a big event and I should've expected the fall. But right now we are not moving on big events, we are just moving in the range. If you don't know how to read the price to anticipate where it's going to go and have a proven track record of success over a long period of time trading crypto then you will very likely lose money. Be careful. We have a long way to go. 

Link to post
Share on other sites
3 hours ago, Neurotoxin said:

IMO the time for buying was either last year or this year when we were very in the red and even when we were around 50-55. I did buy some at 50 but then sold at 65 and bought back at around 50 again. No more buying after that. Sounds like you bought at the top last time and are still having tendencies of buying when it’s in the green rallying after all we’ve been through these years.
 

You buy the dip, not the rally. Repeat that 10x. 

No offence taken neurotoxin. You're right on every point. 

Link to post
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


×
×
  • 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.