This thread will be aimed directly at making money trading bitcoin while most rush to put their coins in cold storage (rendering them useless)
Some background on me, I usually trade stocks and have been doing it actively for over ten years. I'm still in the market now & made lots of money on the recent downtrend the S&P is having. I own three businesses here in NYC too & they all accept bitcoin. I make money year round up and down in the market & saw the potential in the
BTC market too. Actually more potential, especially if all of us navigate these treacherous waters together! I basically started by making a few bitcoins out of nothing so I could trade with them. I was too scared to divert funds to an online exchange, so I had my gf do faucet's and other tasks for small amounts of btc, approx .06 worth (which was a lot more back then lol) This was when I found out about the alt coin market and I was able to make half a coin with a friend who already had like 20 coins from alt trading... I was hooked. This was way better than the market and I could play around daily without getting raped for commissions!
This is when I bought a miner... I got a awesome deal form someone at the bitcoin foundation here in NYC. I think it was a converted dragon miner, Im not sure, but everything was in English already hashing approx 1.2th/s. I remember setting it up took me about 5 hours
I made a few coins then jumped into the bitcoin market. Selling all my coins above 660 and re bought them at 333ish~ ( I went by my lucky numbers
) I was really hooked now even thought doubling up on coins was bitter sweet since my account value was approx the same (This is where I realized the dilemma trading bitcoin) I still had faith in the system & was mining away, less and less by day loll. I knew it would probably rise again but not to the same 1,200 level it once was... I don't like to be a dreamer or set high standards obviously. But when it went up to over 500 I knew something was great here! I knew with patience (which is what most traders lack) there was a lot of money to be made in this market. Also when margins hit the scene I knew it wouldn't be worth it since the wild swings of bitcoin could me you wake up with no coins. It's very dangerous so I try to have side money & not be in trades for too long. In the stock market I ditch trades after 5% but for bitcoin you need at least 10%+ most times 15%~ I have been shorting bitcoin a lot since that 500 pop but did the last short after the paypal news sent an artificial pop to 450. I covered above 300 since I didn't see 275 in the near future. It dropped like a rock and recovered before I knew it but I never saw real strength until recently. I see a base being built as buyers are trying to get this thing to stack above 400. Sorry about the long story about my background but it seems people are unsure who I am on here. It was completely needed... but on to the good stuff!
Right now I bought over 9 coins earlier at approx 375 since the drop was too fast, I expect a short term recovery target to above/near 400. When that happens I will watch closely & either release these coins for profit or double up if 400 proves sustainable. These lower highs are starting to make this look like the slow climb look like the other rally we had recently to 660~ I know I am considered a long term perma bear but I have just nibbled at 9 coins last night, lets see how this goes!
This thread will be displaying
recent trades... I will be letting you guys know what trades I'm in, why, and how long I will be holding on for!
Let me know what you guys are thinking and what trades you are making too!
Together we can make a lot of money considering we have even MORE firepower than any "bearwhale" or other whales you guys speak of... Don't forget their are power in numbers... This thread is to help us stick together. GLTA!
