When the tide goes out

[manfredmann]

Another tide will going to happen. This is usually the happening in the sea the occuring states of tides. I know that many are thinking that this could be the start of something new for bitcoin but for me it is neither good nor bad. It is just market and that current market price could still pull down for more.

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[el kaka22]

Bear market allows you not only to see where your investments are going but also lets you easily unwind them by selling poorly performing coins (if we talk about cryptos) and then proceed to buy more resilient coins at half the price as the market goes downhill. That's what most people overlook in bear markets and so fail to take advantage of.

If you go for checking out many boards across this forum, you can find most of people are suggesting about buying at dips but I'm not sure how many people are making use of those suggestions. I did few in last 4 months and now waiting for another dip to enter again. I'm not selling out any of garbage as I am still believing in to them to bounce back at any time. Also I have bought few major altcoins. Usually I am not believing in to most of altcoins  but this time I am finding this is an easy way to have more bitcoins for the same money, just as a part of making use of low tide.

In a nutshell, it is a perfect time to change sails or even the ship itself, tide or no tide

I guess there will be no need to change the direction of sailing nor the ship as I am still believing in to bitcoins moreover I am still in profit with my bitcoin stash (bought them by early 2015). Usually people do think about those "options of changes" only when they are frustrated due to losses.

[Indamuck]

True believers are still here standing strong while the get rich quick people have left the boat.  A lot of people lack patience and they are ready to bail if they don't see quick gains.

It does look like ICOs are starting to die down and there seems to be a lot less activity on this forum as well.

[deisik]

Bear market allows you not only to see where your investments are going but also lets you easily unwind them by selling poorly performing coins (if we talk about cryptos) and then proceed to buy more resilient coins at half the price as the market goes downhill. That's what most people overlook in bear markets and so fail to take advantage of.

If you go for checking out many boards across this forum, you can find most of people are suggesting about buying at dips but I'm not sure how many people are making use of those suggestions. I did few in last 4 months and now waiting for another dip to enter again. I'm not selling out any of garbage as I am still believing in to them to bounce back at any time. Also I have bought few major altcoins. Usually I am not believing in to most of altcoins  but this time I am finding this is an easy way to have more bitcoins for the same money, just as a part of making use of low tide

It looks like you don't make a living off crypto

And more specifically, cryptotrading, since otherwise you would soon be broke. The first rule of a successful trader is not to marry an asset, however personally attractive it might look or feel. Well, maybe it's not the first rule actually, but it is the one which you should invariably follow with your skin being in the game

In a nutshell, it is a perfect time to change sails or even the ship itself, tide or no tide

I guess there will be no need to change the direction of sailing nor the ship as I am still believing in to bitcoins moreover I am still in profit with my bitcoin stash (bought them by early 2015). Usually people do think about those "options of changes" only when they are frustrated due to losses

Yours truthfully, I didn't mean Bitcoin

I am mostly talking about altcoins, including the major ones. Mind you, I don't suggest anyone to drop their holdings like shit, but as I am repeating over and over again here, in these turbulent times, Bitcoin is the safest haven in the cryptoworld, the lowest (or highest, depending on your perspective) denominator of sorts. And when everything is down, everything in red, use this opportunity to reshuffle your portfolio based on how different coins behave - sell low, buy lower

[gudjhonson]

Indeed, learning a tidal market is more complicated, but wise decisions must be taken to reduce our losses. The waves are trying to get back up even though many waves hit and see situations that allow it to be thrown away.

[nur rochid]

True believers are still here standing strong while the get rich quick people have left the boat.  A lot of people lack patience and they are ready to bail if they don't see quick gains.

It does look like ICOs are starting to die down and there seems to be a lot less activity on this forum as well.

right, those who are impatient make panic and affect the market. they think it's better to lose than the money runs out, and this is one of the reasons for the market to decline. but with the news of the ETF and the Bakkt I think it will improve the condition

[apilpirman.bisnis]

By the way bitcoin still have value at the future, based on how many ICO are launch every time, bitcoin will be keep exist for long time. Always have higher price than other coin.

[Vaculin]

By the way bitcoin still have value at the future, based on how many ICO are launch every time, bitcoin will be keep exist for long time. Always have higher price than other coin.

That's not the only reason, some of the ICO are raising ETH because they are using the ETH platform.
Massive adoption is what would help bitcoin to rise again, or a possible institutional money to come in, we should only not look at the crypto market because there are many transactions through OTC.

[beami]

True believers are still here standing strong while the get rich quick people have left the boat.  A lot of people lack patience and they are ready to bail if they don't see quick gains.

It does look like ICOs are starting to die down and there seems to be a lot less activity on this forum as well.

right, those who are impatient make panic and affect the market. they think it's better to lose than the money runs out, and this is one of the reasons for the market to decline. but with the news of the ETF and the Bakkt I think it will improve the condition

The decision of an ETF will affect bitcoin, is it possible? what I observe is that many of the crypto lovers don't care about the outcome of the decision because of the frequent delays. And this year we are waiting for the ETF's decision about bitcoin, and I will only let everything go according to the plot.

[justspare]

Indeed, learning a tidal market is more complicated, but wise decisions must be taken to reduce our losses. The waves are trying to get back up even though many waves hit and see situations that allow it to be thrown away.

It is so complicated and that is the reason I have chosen holding type of trading for myself. When something is difficult to handle we must look for the easy way to achieve the same goal. With respect to crypto trading, holding must be the easiest way to achieve the maximum profits. Time-frame will be different for achieving that goal but when comparing active trader with the long-term holder  if you look into the ratio of profits, I believe only the long-term holder will be the winner at the end.

Changing the trading strategies and then assets like this lot of hassles are being handled by many active trader whereas the long-term believers of bitcoin are simply watching their profits fluctuating. Yes, I'm not talking about those who have invested when the bitcoin prices were trading around $20k but the early investors who had taken their lifetime decision by the year of 2012 to 2016.

Moreover, Warren Buffett still remains a genius with respect to trading, But I am predicting he will turn wrong one day or another just due to bitcoins. Yes old people may not cope up with new technology-based investments. Many people here may not agree with this but this is a bitter truth as old people cannot estimate how a modern investor will be behaving and what they will be looking for.

[Wong Kalong]

When the market experiences difficult ups and downs, active traders must change their strategy for profit, and at present many early traders are always panicking to have profits and make difficult decisions. Learning this is indeed more complicated than we thought, and may require learning from crypto seniors.

[Kakmakr]

You do not become a Warren Buffett by being stupid, you become one by being smarter than the people around you. I do not agree with his views on Crypto currencies, because I think he says these things from the perspective of someone that are resistant to change. <He is so used to the old way of doing things, that he is not open to new ideas.>

He basically found a good strategy and also some very good contacts in the old financial system and he rinse and repeat those strategies.

Alt coins does not necessarily show their weak underbelly when the price drop like this, because the people behind these coins are artificially pumping the price with the earnings from FREE coin reserves in fiat in the difficult times. 

[exstasie]

It looks like you don't make a living off crypto

And more specifically, cryptotrading, since otherwise you would soon be broke. The first rule of a successful trader is not to marry an asset, however personally attractive it might look or feel. Well, maybe it's not the first rule actually, but it is the one which you should invariably follow with your skin being in the game

Marrying an asset isn't a problem. As long as you're comfortable trading both long and short and you can use leverage to account for lacking volatility, you'll do fine.

The downfall of traders is when they marry a trade or forecast. A lot of traders get tunnel vision and refuse to admit when they're wrong. This leads to letting losses run and other emotional mistakes. Successful traders never get attached to trades. They exit when their stop losses are hit and react to changing market conditions.

[audaciousbeing]

As the famous Warren Buffett once ironically observed, you only find out who is swimming naked when the tide goes out. Now that the tide is gone, it's time to check what's left and pick it up

Many trading folks, me included, like quoting him, whether spot on or completely beside the point. But the talking crowd doesn't really care about the real insights and nuggets of wisdom this man shares, other than what is right at the surface. And there's always more to his words and sayings than the majority sees. In this post I'm going to show you what it means in practice and how to make use of it

In this particular case, for example, the market crash has shown which coins are going to kick the bucket and which have good chances to survive. But these are extreme cases, while there's a lot of space in between as well as room for action and improvement. Basically, falling prices let you clearly see what assets are performing better and which are not worth your time. Bear market is kind of an eye-opener for you and reality check for your investment decisions

And this is the whole thing. Bear market allows you not only to see where your investments are going but also lets you easily unwind them by selling poorly performing coins (if we talk about cryptos) and then proceed to buy more resilient coins at half the price as the market goes downhill. That's what most people overlook in bear markets and so fail to take advantage of. In a nutshell, it is a perfect time to change sails or even the ship itself, tide or no tide

That word you quoted by Warren is mostly applicable to all endeavors of life without specifically mentioning crypto currency. This period of time admittedly is a trying time for the entire market which makes a lot of people stay away from the market at this point, only people who have the real conviction are still playing their part here. Even on the forum, a lot of people have stopped visiting because of the dull nature of activities but the year is just starting which brings so much hope and opportunity to reset which everyone should be ready to take advantage of.

[deisik]

It looks like you don't make a living off crypto

And more specifically, cryptotrading, since otherwise you would soon be broke. The first rule of a successful trader is not to marry an asset, however personally attractive it might look or feel. Well, maybe it's not the first rule actually, but it is the one which you should invariably follow with your skin being in the game

Marrying an asset isn't a problem. As long as you're comfortable trading both long and short and you can use leverage to account for lacking volatility, you'll do fine.

The downfall of traders is when they marry a trade or forecast. A lot of traders get tunnel vision and refuse to admit when they're wrong. This leads to letting losses run and other emotional mistakes. Successful traders never get attached to trades. They exit when their stop losses are hit and react to changing market conditions.

It looks like there's a misunderstanding

What you refer to by marrying a trade, I consider marrying an asset. It happens when an asset earned you decent profits in the past and you get glued to it (marry it) by holding it despite the fact that it now brings you only losses and it should have been disposed of long ago. Buying and selling an asset as market dictates has nothing to do with this. Really, how can you possibly be considered a truly married man if you are ready to get rid of your wife as soon as she has her period started (and get back to her when it's over)?

[aoluain]

And this is the whole thing. Bear market allows you not only to see where your investments are going but also lets you easily unwind them by selling poorly performing coins (if we talk about cryptos) and then proceed to buy more resilient coins at half the price as the market goes downhill. That's what most people overlook in bear markets and so fail to take advantage of. In a nutshell, it is a perfect time to change sails or even the ship itself, tide or no tide

This would be "buy high, sell low".

Concerning traditional investments, a smart asset allocation would tell you to do the opposite.

However, as we are in this crazy cryptocurrency market, I don't think it would be wise to buy more of a coin that lost 90% of its value (as it may never recover)

I have a few coins that lost about 90% of their value... they are almost worthless now. I will not sell them... because they aren´t worth anymore.. but I will hold, and see if they recover at least a little so I can sell in the future...

My game plan for the last 6 months or so has been to get rid of the poor
performing coins and trade them into bitcoin which has obviously a very
good performance.

There are however promising coins or sturdy ones and they are not those
cheap coins which have a big following of hopefull investors. Coins like
the old reliables or "the original alts" Ethereum, Litecoin, Monero, Dash,
Monero and Zcash.

We could also look at Ships who are seaworthy and are prepared ready
for the next tide.

[deisik]

That word you quoted by Warren is mostly applicable to all endeavors of life without specifically mentioning crypto currency. This period of time admittedly is a trying time for the entire market which makes a lot of people stay away from the market at this point, only people who have the real conviction are still playing their part here. Even on the forum, a lot of people have stopped visiting because of the dull nature of activities but the year is just starting which brings so much hope and opportunity to reset which everyone should be ready to take advantage of.

If you don't go to the market, then the market comes to you

Really, if you are massively invested in crypto, how can you stay away from the market in such times? Indeed, you can stay away from it if you choose so, but that questions your whole effort and ability at investing in crypto. If anything, crypto is not what passive investments stand for, and your only chance to survive "at this point" is to be active and adaptive. If you want passive income, you may want to look elsewhere, e.g. in gold or treasuries

My game plan for the last 6 months or so has been to get rid of the poor performing coins and trade them into bitcoin which has obviously a very good performance

Someone's got it right finally

We could also look at Ships who are seaworthy and are prepared ready
for the next tide

I like your train of thought - ships which are seaworthy and ready for the next tide (or ride)

[coinplus]

Still marrying just one asset would make a horrible life for any trader. It could be marrying one asset or marrying forecast, doesn't really matter. Any person that tries to make money enough to live from trading knows that you need to not double dip on your position and instead balance it out with the other counterpart.

For example if dollar devalues than gold is a good option but you can still have stocks that you invest into AND gold. It means if you want to trade crypto which is not really tied to anything, you need to have something that is tied to something so in case one drops the other goes up. However, stuff like stocks has dropped this year while bitcoin has dropped as well which means even if you followed my system you would have lost money no matter what. There are that type of economical crisis times where whatever you do will be horrible.

[deisik]

Still marrying just one asset would make a horrible life for any trader. It could be marrying one asset or marrying forecast, doesn't really matter. Any person that tries to make money enough to live from trading knows that you need to not double dip on your position and instead balance it out with the other counterpart

That's why I called it the first rule of trading which any trader should follow

You will be surprised how many people know that and how many of them can't do anything with themselves to actually implement this or similar approaches in practice. It is written in every trading book out there but unless you have it inside you, you will be making the same mistakes again and again. It is not just about stop-losses and whatnot as it is more about putting your ego aside and truly following the market, not forcing yourself to do something in accordance with a trading guide but genuinely making that part of your inner self. When you have it or have acquired it, you become an authentic trader

Ironically, it massively helps in real life too by helping you not to get into or quickly disengage from what I call a "resonance cascade" (that would match doubling down on a losing position)

[exstasie]

It looks like you don't make a living off crypto

And more specifically, cryptotrading, since otherwise you would soon be broke. The first rule of a successful trader is not to marry an asset, however personally attractive it might look or feel. Well, maybe it's not the first rule actually, but it is the one which you should invariably follow with your skin being in the game

Marrying an asset isn't a problem. As long as you're comfortable trading both long and short and you can use leverage to account for lacking volatility, you'll do fine.

The downfall of traders is when they marry a trade or forecast. A lot of traders get tunnel vision and refuse to admit when they're wrong. This leads to letting losses run and other emotional mistakes. Successful traders never get attached to trades. They exit when their stop losses are hit and react to changing market conditions.

It looks like there's a misunderstanding

What you refer to by marrying a trade, I consider marrying an asset. It happens when an asset earned you decent profits in the past and you get glued to it (marry it) by holding it despite the fact that it now brings you only losses and it should have been disposed of long ago.

Okay, well just so you know, your expression isn't clear and isn't commonly used in English, so you should probably expect future misunderstandings. You're referring to "bagholders" and "permabulls" (people who always believe price will rise and refuse to sell at a loss). "Marrying an asset" doesn't actually specify what side you're trading (long or short) so it's not a useful expression.

I mainly only trade Bitcoin these days. You could say I'm "married" to the asset because I don't trade anything else. I also shorted Bitcoin to the ground last year and didn't lose money by holding it. That's why the distinction is worth making. If someone is "married to an asset" that tells you absolutely nothing about his success as a trader. If someone is "married to a trade" they are a bad trader.