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Author Topic: Lost money both on recent rice and fall lol  (Read 1150 times)
DomesticTrader
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June 24, 2016, 09:30:29 PM
 #21

Thought recent price rise due to halving and brexit was a sure thing and bought Bitcoin @ $775. The market crashed right after, people said due to Britain predicted to remain. Than in order to recover shorted Bitcoin thinking it will surely fall,  but it did the exact opposite, it rebounded even before the announcement of brexit??  Grin . I was further tempted to buy bitcoins but having been burned twice this week,  decided to stay put, but Bitcoin coin price instead of rising falls  a little ?  I now have learned trying to play the market is foolish.

All prices are factored in before little investors like me are even aware. By the time we get the news it's too late and will only be buying losses.  Better to just hold the coins you believe in and forget the market. It's too smart and has leverage to magnify and small gain or loss to their advantage.

Or maybe I should just do the opposite of what I think is logical  Huh



That's some bad luck you got there.

Did you get a margin call and fulfill it? If not you probably should take/do it. Since my guess is the price will go down more the coming weeks, and yes I do know that the halving is in 3 weeks.
angaper
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June 24, 2016, 09:50:47 PM
 #22

What a bad luck my friend!  Grin

It is undoubted that there is no technical or fundamental analysis that can provide us reliable information to predict with relative accuracy the next bitcoin price move. Unfortunately it is more frequent to know about aspiring traders losing their coins than successful traders, so I would recommend you to store your coins rather than trying your luck in trading.
robelneo
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June 25, 2016, 10:49:26 AM
 #23

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.



Thanks for the advice, I appreciate it. But is it possible to make money long term trading? You seem to have more experience.

Yes it does,long term trading and profit is still possible in the altcoin market,you just have to know the roadmap,features people behind it and does the project are indeed attracting community support,you'll going to learn and adapt as you keep on trading and reading chart and threads of the project..

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