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Crypto-trading thread

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jeremy
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6:22p, 2/19/21
AG
Howdy! Well, I don't want to take away from the "crypto currency" thread, but I think it's time to start discussing trading strategies for crypto on one concise thread.

Tell us what you know and let's help one another out in the crypto-craze!
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SMM48
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In reply to jeremy • 6:49p, 2/19/21
AG
Weekly deposit dollar cost average.
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Ag In Ok
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In reply to jeremy • 6:50p, 2/19/21
AG
I know nothing but having fun with spare cash.

Long term - BTC, REN, LTC

Shocked by the spike in REN today so i pulled back half. I am hoping for some overnight profit taking and a good price returns over the weekend.

Again, i know little about the market and more so about the product. And I'm not an IT guy.
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jeremy
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7:03p, 2/19/21
AG
I've been investing in crypto for over a month now, so undoubtedly several of you have way more experience than I do. But here's what I've learned so far.

I've tried the following trading sites: coinbase, coinbase pro, kraken pro, gemini, Voyager, binance, and uphold.

Binance seems to be the best but isn't available to be used in Texas. WTH?!?

Coinbase is the simplest, but has very little choices of crypto you can buy and how you can buy it. Basically you can link a bank account and add money to coinbase and then buy and sell various choices. Coinbase is limited in the choices of crypto stuff you can buy into. But, its super simple especially for "buy and hold" positions.

Coinbase pro has more choices but is not as user friendly. You can do limit orders and sells.

Voyager seems to be a bit in-between coinbase and coinbase pro. Not bad or good, but has good choices. I basically signed up for this one so I can buy VGX. It was a good investment and has earned me about 23% this week alone. (My VGX investment) . Voyager had me on a waitlist for almost 3 weeks. WHAAAT?! Could have gotten into VGX and Cardono (ADA) way earlier. I have no idea how many people tried to sign up for voyager at the same time, but they got overwhelmed.

That's why I got on Uphold. But it sucks and the fees are high. If you can get into the above 3, I recommend them over Uphold.

Krakenpro- I got in to Kraken-pro because all of the above are lacking. Now, I haven't funded Kraken to date but will soon. It's a challenge to get funded and you need two forms of id. If you stick with it, Kraken pro looks to be as good as binance and as far as I know you can use it and fund it even in Texas (again, what the heck, binance!!?)

So, I spent this last week fully immersed in the crypto world. I opened a trading view account because it has the screeners and technicals on the crypto-world. In my youtube immersion, someone that goes by bit-boy started talking about a screener called market cipher. When used in conjunction with Trading view, you can open the market cipher scripts on a chart and it gives good buy, sell, and support signals. It cost me $360 (with the bit-boy discount) for 5 months. But, I am one that will go all-in when I go. So, I've been learning it as well.

My strategy is ever evolving. I'm doing more than dipping my toe, but I still don't know how strong to invest in this "new" space. I don't want to be like my 12 year old self telling anyone who will listen that "My Emmitt Smith card that I bought for $1 is worth $20!" I want to be the guy that is saying, "I'm sorry my poor friends. I told you the next big thing was the crypto-space and you laughed at me."

I think I plan to spend about 10% of my discretionary funds each month investing into the cryptospace.

I want to buy and hold both Bitcoin and Ethereum because I think those two win out in the end.

I want to have some of my discretionary funds allocated for trading. I think I'm learning that day-trading isn't really a great strategy with the cryptos, but swing trading can be. That's why I bought Market Cipher.

I think it will be a challenge to narrow down which coins and such are going to "win" in the end and which ones we can ride in the mean-time.

I will watch my Market Cipher and let you guys know if I see anything interesting. Currently, I think Bitcoin, et al. will drop a bit sometime over the weekend. I will let ya'll know if I see something interesting and will tell you if I sell any or buy any. I am not an expert or even close, but I want my experience (good and bad) to save someone else time and money loss.


One really cool thing about Crypto- It's always open!! You can trade weekends and evenings, so we're not stuck trying to learn this during our work day!!




Disclaimer- Don't listen to me. Make your own choices.





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jeremy
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In reply to SMM48 • 7:06p, 2/19/21
AG
FunkyKO said:
Weekly deposit dollar cost average.


Never knew the fancy word for "putting money into an investment regularly", but yes, I plan to do that. One thing I think the Market Cipher software I mentioned above will help with is knowing when to put that "weekly money" into the market for the most bang for the buck. "Buy the dips" as they say.
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Skillet Shot
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7:14p, 2/19/21
I wait for a negative day in BTC or ETH and throw in however much I have left after I fund everything else and retirement accounts. Im a long term holder though. I bought some random alt coins that have been doing well: dash, algo, tezos but all the alt coins are doing well in this bull run. My favorite alt coin with the most real world potential (besides ETH) is VET VeChain
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MR Gadsden
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7:28p, 2/19/21
In.

This will be a fun thread to look back at in 3 years like the previous one.
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jeremy
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7:29p, 2/19/21
AG
Vet is showing signs of running right now. You'll have to watch and see how it goes. I cannot guess how high, but my screener tells me when its going to go up and its pretty accurate.
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HelloUncleNateFitch
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8:01p, 2/19/21
Anyone else anticipating the usual March bitcoin crash and considering pulling some out at this price? Or is this year going to be different?
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Skillet Shot
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In reply to jeremy • 8:02p, 2/19/21
What does it say about algo? The development team said they are going to have some big announcements in the next month or 2 regarding global partnerships. But of course they are going to pump their coin.
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Decay
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8:22p, 2/19/21
AG
I'm balls deep in algo. I'd like a 10x run please... Well another one...
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Polska
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8:57p, 2/19/21
AG
Who has more upside? DOT or ADA. I was debating at a buy this morning and probably should have just split between the two, but went with ADA. ADA seems to be more finite, which is part of bitcoins appeal, which went into my rationale.
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jeremy
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9:18p, 2/19/21
AG
Have you checked ada!!??? I'm up 23% since 4:30!
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jeremy
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In reply to Skillet Shot • 9:37p, 2/19/21
AG
Skillet Shot said:
What does it say about algo? The development team said they are going to have some big announcements in the next month or 2 regarding global partnerships. But of course they are going to pump their coin.


My software doesn't really give long term advice. I'm hoping y'all that are reading and watching videos and such can help the forum with those projections. You want to know if it's supposed to go up in the next few hours or days? The market cipher sort of helps with that. You wanna know what 10 cent crypto will reach $1000k? I have no clue.

I'm even still learning market cipher so even knowing when to buy or sell that isn't a sure thing.
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AgPrognosticator
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10:58p, 2/19/21
AG
Shorts are piling up on BTC. Several 5 year+ cryptovesters I know believe BTC is out over it's skis at the moment.

Likely a short term pullback follows by another run. If you are holding long term, nothing to worry about. But traders ought to keep an eye out.
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ac04
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11:06p, 2/19/21
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
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jeremy
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In reply to AgPrognosticator • 11:32p, 2/19/21
AG
AgPrognosticator said:
Shorts are piling up on BTC. Several 5 year+ cryptovesters I know believe BTC is out over it's skis at the moment.

Likely a short term pullback follows by another run. If you are holding long term, nothing to worry about. But traders ought to keep an eye out.


Fairly common pattern that I've been watching. Probably drops Sunday, rallies by next Friday.
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wareagle044
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5:17a, 2/20/21
No advice to give yet but so everyone knows my biased opinions come from holding XRP XLM and ALGO for the time being
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LatinAggie1997
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6:22a, 2/20/21
AG
1. Dollar cost average between Sat 9pm and Mon 3am...most consistent time frame for dips...best is typically late Sun night.
2. Kraken pro is probably overall the best, especially if living in TX (no VSP needed).
3. ADA will be, imo, the gamechanger once the Cardano road map is completed. Change the world type stuff. Africa announcement, Coinbase listing, and Goguen rollout all set to happen in next few months. The one negative is the amount of token circulation which as of now caps future token price. However, Charles thinks far ahead and there could be some type of buyback or other scenario to decrease the amount in circulation. Pullback will probably be around .85 - .95 range so get in before next big announcement.


My favorite coins BTC, ADA, LINK, COSMOS, REN, DOT.
I have others but these are my sweet spots because I believe in them and growth potential.
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fletch03
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8:41a, 2/20/21
AG
I am a relative newbie when it comes to Crypto, but then again way more experienced than most. Still have a lot to figure out and understand.

I own BTC, LINK, REN, AAVE, and ETH. Looking at adding some ADA and/or CRO, maybe both. Father-in-law is pushing CRO for some reason. Good friend thinks ADA is going to be big.

Any thoughts from the board on holding long term in either of them, and if you had to pick one, which would it be?

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Pepper Brooks
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9:24a, 2/20/21
AG
Odds are that the most popular defi coins will go up in the long term. Throw some in both and see what happens. Treat them as speculative investments.
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
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fourth deck
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9:39a, 2/20/21
AG
Finally cleared 2 weeks on the wait list for Voyager but can't link my checking account now. Keeps saying "try again" and will never let me input info. Anyone have this problem? I realize the other option would be to buy USDC on Coinbase Pro and transfer over but I'd like to avoid the tax event of converting coins if possible.
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Kampfers
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In reply to jeremy • 9:39a, 2/20/21
AG
jeremy said:
Vet is showing signs of running right now. You'll have to watch and see how it goes. I cannot guess how high, but my screener tells me when its going to go up and its pretty accurate.
I really like VET due to the potential for business applications. I don't own a ton of it but I have some just in case it blows up.
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Kampfers
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9:42a, 2/20/21
AG
Also, gonna use this first page to repost The Coin Perspective (a helpful website for understanding market cap and potential growth) as well as my NANO shill - we keep toying around with breaking the 1bn market cap for good!

Quote:
My personal favorite is Nano. Lightning fast transactions, no transaction fees, and insanely low energy requirements. If you're interested, download Natrium (free nano wallet for iOS/Andriod - Nault is a good desktop alternative) and use a Nano Faucet - or both - to get some free Nano and see how quick the transaction process is for yourself (Faucet #1, Faucet #2). You can also download the WeNano app and get free nano by checking in at local spots in your community (kind of like a form of crypto geo-caching).

If you're just looking for something to store value, bitcoin/ETH is a fair choice. If you want to get in closer to the ground floor on a coin that could see big growth, I'd look into some of the others I've mentioned.
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AggieChemist
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In reply to ac04 • 9:51a, 2/20/21
AG
ac04 said:
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
Wow. What a great article. After reading that I just moved more than $1000 in speculative monies from alts into BTC. I left like $10 in each in case one should 100x. But my crypto dollars are going into BTC from here on out.
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Pepper Brooks
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11:12a, 2/20/21
AG
Loving this DOT run
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
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jeremy
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In reply to AggieChemist • 11:14a, 2/20/21
AG
AggieChemist said:
ac04 said:
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
Wow. What a great article. After reading that I just moved more than $1000 in speculative monies from alts into BTC. I left like $10 in each in case one should 100x. But my crypto dollars are going into BTC from here on out.
Keep in mind that the article is 3 years old in an ever-changing world. That being said, I will constantly keep a few currencies and never trade them: BTC mostly, Eth, AMA, and maybe 1 or 2 others in case they blow up. But, I will trade into and out of any others in hopes of growing my portfolio. Then skim some of that off and deposit it into BTC or Eth.
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TxAG#2011
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In reply to Pepper Brooks • 11:42a, 2/20/21
NTXAg10 said:
Loving this DOT run


Need a grayscale dot fund I can buy in my retirement account
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wareagle044
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In reply to Kampfers • 11:47a, 2/20/21
Kampfers said:
jeremy said:
Vet is showing signs of running right now. You'll have to watch and see how it goes. I cannot guess how high, but my screener tells me when its going to go up and its pretty accurate.
I really like VET due to the potential for business applications. I don't own a ton of it but I have some just in case it blows up.


Which exchange are you using to get it?
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AggieChemist
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In reply to jeremy • 11:57a, 2/20/21
AG
jeremy said:
AggieChemist said:
ac04 said:
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
Wow. What a great article. After reading that I just moved more than $1000 in speculative monies from alts into BTC. I left like $10 in each in case one should 100x. But my crypto dollars are going into BTC from here on out.
Keep in mind that the article is 3 years old in an ever-changing world. That being said, I will constantly keep a few currencies and never trade them: BTC mostly, Eth, AMA, and maybe 1 or 2 others in case they blow up. But, I will trade into and out of any others in hopes of growing my portfolio. Then skim some of that off and deposit it into BTC or Eth.


And yet so much of what he predicted has proven correct. And we are rapidly accelerating up his curve. If Bitcoin it gonna go to a million, I'm not going to dick around in Ren.
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wareagle044
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In reply to AggieChemist • 12:09p, 2/20/21
AggieChemist said:
jeremy said:
AggieChemist said:
ac04 said:
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
Wow. What a great article. After reading that I just moved more than $1000 in speculative monies from alts into BTC. I left like $10 in each in case one should 100x. But my crypto dollars are going into BTC from here on out.
Keep in mind that the article is 3 years old in an ever-changing world. That being said, I will constantly keep a few currencies and never trade them: BTC mostly, Eth, AMA, and maybe 1 or 2 others in case they blow up. But, I will trade into and out of any others in hopes of growing my portfolio. Then skim some of that off and deposit it into BTC or Eth.



And yet so much of what he predicted has proven correct. And we are rapidly accelerating up his curve. If Bitcoin it gonna go to a million, I'm not going to dick around in Ren.


Some analysts believe BTC to $4MM
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TxAG#2011
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12:16p, 2/20/21
Bitcoin at a million is twice the market cap of gold. It's not happening this cycle. Maybe in 15 years.

Spec altcoin plays are still the greatest potential ROI right now. And most risky obviously.
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Ag In Ok
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In reply to TxAG#2011 • 12:21p, 2/20/21
AG
Agreed - and though Bitcoin may be the first to breach the sovereign currency barrier in value, it could also be the first to die. Granted, that would be very difficult, but possible with political will. I can see big government being okay with a basket of crypto's that they can hold sway over winners and losers.
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jeremy
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In reply to AggieChemist • 12:38p, 2/20/21
AG
AggieChemist said:
jeremy said:
AggieChemist said:
ac04 said:
3+ years in now, i have owned probably 20 different coins at one time or another, but i have only owned two for the past couple of years (probably something like 95% BTC and 5% ETH). my advice is to be 100% sure that you understand the value proposition of BTC before you ever put money in any other crypto. if you are relatively new to all this, i would make time to read this article and listen to this podcast, and then learn more:

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

https://www.theinvestorspodcast.com/bitcoin-fundamentals/bf-001-bitcoin-common-misconceptions-w-robert-breedlove/
Wow. What a great article. After reading that I just moved more than $1000 in speculative monies from alts into BTC. I left like $10 in each in case one should 100x. But my crypto dollars are going into BTC from here on out.
Keep in mind that the article is 3 years old in an ever-changing world. That being said, I will constantly keep a few currencies and never trade them: BTC mostly, Eth, AMA, and maybe 1 or 2 others in case they blow up. But, I will trade into and out of any others in hopes of growing my portfolio. Then skim some of that off and deposit it into BTC or Eth.


And yet so much of what he predicted has proven correct. And we are rapidly accelerating up his curve. If Bitcoin it gonna go to a million, I'm not going to dick around in Ren.
What is your strategy then because I think we're doing the same thing in different ways. I may buy some ren while it jumps to get some more $$ and then throw that into bitcoin on the dip. In other words, using these smaller guys when they run to accumulate $$ to throw at Bitcoin and ethereum. I will also probably throw extra money a month into bitcoin and ethereum.
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jeremy
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2:52p, 2/20/21
AG
May have been dumb, but I just sold $1330 worth of bitcoin thinking it's at a high for a while. Going to try to buy the next dip. If it goes above $56900 before a big dip, than I'm a big idiot.
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