My Trading/Gambling Journal

[doomistake]

You are like walking in a place you don't even know, at night, without any lights and you are just waiting to fall into a cliff then let the almighty God decides what is good for you, that is suicide. It is a good tactics for a beginner, you know, to experiment things out and find out what suits for you and polish it, but this is way too risky, I tell you, rather than risking it all in this tactic of yours, hold your bitcoin after you buy in a dip and wait while you are studying more about Trading.

[cryptotrade78u]

You are like walking in a place you don't even know, at night, without any lights and you are just waiting to fall into a cliff then let the almighty God decides what is good for you, that is suicide. It is a good tactics for a beginner, you know, to experiment things out and find out what suits for you and polish it, but this is way too risky, I tell you, rather than risking it all in this tactic of yours, hold your bitcoin after you buy in a dip and wait while you are studying more about Trading.

i don't even want to reply to this, but i will because its a new thread and more people need to re read this.

what makes you think $500 couple of times a week is risking it all?

you need to re read this and understand, i am not trying to be a trader, i am not claiming to be smart and i understand the risk (100% money can be gone). You are making it sound like, i can lose more than what i deposit.

Let the amightly god decide blah blah blah is making it sound like i m gambling with my life's savings.

Man! people are broke (How do i say that without sounding like a douchebag?)

[pajak666]

Don't let them discourage you from your goal ! any update? did you finally bet on anything or waiting for the situation to solve one way or another? Price range is tightening quite a bit so we should expect some stronger moves by the weekend. Also, quite curious, what is your background? Poker or smth else?

[cryptotrade78u]

Don't let them discourage you from your goal ! any update? did you finally bet on anything or waiting for the situation to solve one way or another? Price range is tightening quite a bit so we should expect some stronger moves by the weekend. Also, quite curious, what is your background? Poker or smth else?

interesting how to came to conclusion of poker (perhaps from my variance comment) i do have a poker background, i was never a winning player, always played stakes bigger than my level. I would beat an average home game without a problem but most of the games i play are full of regs and ultra high stakes.

My full time gig is real estate in various countries and btc arbitrage. I also have couple of crypto related companies that i do not wish to disclose here to keep myself somewhat anonymous.

I have been busy last 24 hours so haven't made a trade, but should have a trade in next few hours. Leaning towards a short at around 8600, these quick rallies usually correct in bitcoin.

[Assface16678]

You are like walking in a place you don't even know, at night, without any lights and you are just waiting to fall into a cliff then let the almighty God decides what is good for you, that is suicide. It is a good tactics for a beginner, you know, to experiment things out and find out what suits for you and polish it, but this is way too risky, I tell you, rather than risking it all in this tactic of yours, hold your bitcoin after you buy in a dip and wait while you are studying more about Trading.

Gambling or trading is very risky, and many people want to explore this, some of them are making a lot of knowledge before entering into the world of trading and gambling after they think they are enough or ready now to make a trading and gambling in the real life, make sure they have an initial investment because not all the time we are learning base on the textbooks and read in the internet, and also it is better if we are trying those trading and gambling too. In trading sometimes there is an initial deposit before you make your trade. In gambling, there is a minimum amount before you can play in different games. Even we are winning and losing, it is hard to stop playing and trading because it can give unexplainable happiness to us. Still, it is better if we can control our selves to avoid losing too much money.

[pajak666]

interesting how to came to conclusion of poker (perhaps from my variance comment) i do have a poker background, i was never a winning player, always played stakes bigger than my level. I would beat an average home game without a problem but most of the games i play are full of regs and ultra high stakes.

My full time gig is real estate in various countries and btc arbitrage. I also have couple of crypto related companies that i do not wish to disclose here to keep myself somewhat anonymous.

I have been busy last 24 hours so haven't made a trade, but should have a trade in next few hours. Leaning towards a short at around 8600, these quick rallies usually correct in bitcoin.

Just general awareness of what gambling actually IS and what it IS NOT and your motives and risk/reward understanding. It made be suspicious you played poker or at least was into betting of some kind before. Obviously real estate business + other companies can give you some money handling experience as well and now I get a complete picture ^^ thanks for the answer

[Wind_FURY]

OP, save your coins, and don't waste your time. The market is full of traders who are better than you. It would be better to HODL and forget in my opinion.

I think it would be actually useful to compile a list of traders who have the courage to publicly disclose their trades and evaluate their performance against each other... Anybody aware of similar attempts in the past?

None in the forum. The traders that actually make money don't post in the forum, and the plebs that desire to be "rich through trading" are eaten by the traders that actually make money.

[Asmonist]

This is probably describe as addiction. Its really an income generating activity. But we all know that it also include great risks. For small time trader/gambler its maybe a little happiness especially when you earn in the first and succeeding attempts. Nevertheless, maybe this is only for those with huge or exceeding funds and the high-risk takers.

[cryptotrade78u]

Attempt - 3

Winnings in row - 0
Profit/Loss so far -0.123885 BTC

Potential loss in this trade - 0.06162 BTC

Got in at 8480 as a short position, This is very close a new high in last 56 Days or so. I like this position a lot

[cryptotrade78u]

This is probably describe as addiction. Its really an income generating activity. But we all know that it also include great risks. For small time trader/gambler its maybe a little happiness especially when you earn in the first and succeeding attempts. Nevertheless, maybe this is only for those with huge or exceeding funds and the high-risk takers.

By definition addiction is inability to stop doing or using something. I feel pretty good about stopping this and never doing it again if i want to. How about we describe this as a "fun activity/hobby" that gives me joy. Too much?

[cryptotrade78u]

Got in at 8480 as a short position, This is very close a new high in last 56 Days or so. I like this position a lot

Closed this at market @ 8556 not that it matters but it was clearly heading towards liqudation. As i type this, it hit liqudation price on bitmex, so saved few pennies.

Loss in this trade is 0.03472514 BTC
Profit/Loss so far -0.15861014 BTC
Balance in account 0.0269 BTC

Going to fuck around with this balance before making a deposit.

[nreal]

Your trading strategy has a problem, first as you mentioned the rate of profit on your risk is 1: 1, if your win and loss ratio is also 1: 1, then you will lose money. Because of the transaction fee. Your second problem is that you use all your profits if you win to continue.

[BlacksmithCorporation]

Got in at 8480 as a short position, This is very close a new high in last 56 Days or so. I like this position a lot

Closed this at market @ 8556 not that it matters but it was clearly heading towards liqudation. As i type this, it hit liqudation price on bitmex, so saved few pennies.

Loss in this trade is 0.03472514 BTC
Profit/Loss so far -0.15861014 BTC
Balance in account 0.0269 BTC

Going to fuck around with this balance before making a deposit.

Now that your 3rd attempt has probably failed, you seem to be a anti-trend person. You are thinking that the win and loss ratio will be 50% win and 50% lose, but in reality you can continuously lose until you run out of money to win.

[cryptotrade78u]

Now that your 3rd attempt has probably failed, you seem to be a anti-trend person.

For these small deposits, i really didn't want to put a lot of thought into it. My original idea of following the trend comes in place when stakes are much bigger.

but in reality you can continuously lose until you run out of money to win.

Now that seems highly unlikely, but we will see

[drlukacs]

i am sure you all know, last trade got liqudated shortly after trade, it was a spike and came right back to our profit taking but oh well

anyways, deposited another $500 (0.06162 BTC)

BTC just feels like in a no-mans land for last 48 hours so not getting in a position, if it goes below 7900 and stays there for few hours, i will go long... if its over 8200, i will short, over 8400 definitely short, perhaps 100X too

I see your psychology now looks like gamblers, you're not keeping calm and constantly making judgments. I used to have margin trading and used to be psychologically like you, then my result was big losses. I know that margin trading is profitable but it is also very risky if you are unable to manage your psychology well. just want you to calm down and make more judgments, because now the market is growing and Short only brings death. Don't try to go against the trend.

[Reid]

It really looks like you went to gambling first before trading. 

It is like having another self.
When you are in gambling you should do this and that and then rest.
Way different when it comes to strategies in trading. There you could still save something unlike with the gambling method.
I wont confuse the two if I were you.

[cryptotrade78u]

I see your psychology now looks like gamblers, you're not keeping calm and constantly making judgments. I used to have margin trading and used to be psychologically like you, then my result was big losses. I know that margin trading is profitable but it is also very risky if you are unable to manage your psychology well. just want you to calm down and make more judgments, because now the market is growing and Short only brings death. Don't try to go against the trend.

Point taken

[Xxmodded]

It really looks like you went to gambling first before trading. 

It is like having another self.
When you are in gambling you should do this and that and then rest.
Way different when it comes to strategies in trading. There you could still save something unlike with the gambling method.
I wont confuse the two if I were you.

I think gambling have two option loss and profit, with trading maybe you opinion like gambling but is wrong although your coin have lower price but you still have balance and could sell with lower price, if gambling when your prediction is wrong you have loss your money and never have holding words with gambling.

[pajak666]

Hi there OP, gonna play some more or you got bored with it?

[cryptotrade78u]

Hi there OP, gonna play some more or you got bored with it?

had to go to Thailand for some poker, back now... should play more