Cryptocurrency - anybody dabble?

[sighcoe]

You think the motley fool is worth it? I was checking them out before, got on their email list somehow and they have been sending me things at special prices to join. I wasn't sure though. They seem legit, but I've joined similar things that once I paid for it, I wasn't really impressed. Are you just day trading btc/usdt kinda things?

Oh my goodness Royalty, I just realized that it was you... Probably don't remember me but I bought a HUGE account from you 2 years ago.
Currently only day trading, because I use a single broker for both BTC and usdt. Once I'm marked that week as a pattern day trader, I can't use my buying power on BTC. But if I catch a day when I'm unmarked as a PDT and BTC is low, it's the only time I day trade BTC.
Anyway, I purchased a few other sites but this one has been by far the best. But is it good? I would say it's okay... lol
Pros:
- Really safe stocks and great analysis on where the business is headed.
- Email alerts on when to sell
- Beating the S&P every year
- Great staff that did the 1000s of hours of learning and research for you.
Cons:
- Their update is every Thursday on new stocks to buy. Because it's once a week, you miss out on some bullish action.
- Seems slow on market updates and news... I mean it's meant for long term investments so it makes sense.

Honestly I think it's an awesome site for long term investors. I just use it to day trade because I know eventually it will go up momentarily when it dips and if it doesn't, it's safe enough to hold a couple days or even weeks to catch up or gain.

[I_royalty_I]

Oh my goodness Royalty, I just realized that it was you... Probably don't remember me but I bought a HUGE account from you 2 years ago.
Currently only day trading, because I use a single broker for both BTC and usdt. Once I'm marked that week as a pattern day trader, I can't use my buying power on BTC. But if I catch a day when I'm unmarked as a PDT and BTC is low, it's the only time I day trade BTC.
Anyway, I purchased a few other sites but this one has been by far the best. But is it good? I would say it's okay... lol
Pros:
- Really safe stocks and great analysis on where the business is headed.
- Email alerts on when to sell
- Beating the S&P every year
- Great staff that did the 1000s of hours of learning and research for you.
Cons:
- Their update is every Thursday on new stocks to buy. Because it's once a week, you miss out on some bullish action.
- Seems slow on market updates and news... I mean it's meant for long term investments so it makes sense.

Honestly I think it's an awesome site for long term investors. I just use it to day trade because I know eventually it will go up momentarily when it dips and if it doesn't, it's safe enough to hold a couple days or even weeks to catch up or gain.

Yeah man! Of course I remember the name! How's things going over there? Sounds like not too bad eh
Sounds like you're doing more trading on sort of institutional sites as opposed to the cyrpto exchanges? I haven't yet wandered into that territory yet. My crypto stuff has been performing tremendously well lately so I'm looking to diversify it a little bit. I've got the long term 401k coming out each pay check, and a roth I'm pushing into when I have some extra cash, but longterm stocks seem like too safe of a bet. Maybe not too SAFE, but too slow? After working with crypto for a few years and seeing those exciting trading days, seeing $5-10 or even $50-100 gains on investments really doesn't seem as fun haha.

The Motley Fool guys really do seem to know their stuff. The only other con I would see there is that they are likely a pretty large name and likely have a big following. So you would probably need to jump on their advise right away in order to catch things at the right time. I'm sure they have a more exclusive inner circle that gets the info first too.

I have heard about how you can deposit an amount with some of these stock brokers and they give you an extra bump on top to play with. I figure the downside there is if you lose it, you're screwed. Risky business there. The extent of my day trading is researching a decent coin on an exchange, tossing money and hoping it jumps up. For awhile there, I was getting $50-100 returns on a trade or two and that was enough for me. Do that everyday and it pays the rent by itself!

[Dom~]

Ive contemplated it on several occasions, I feel like its to late at this point, I try not to have regrets of not investing back when bitcoin was dirt cheap.

[Mophead]

What kind of ICOs did you guys get into? I don't think I ever got into any scam ICOs but I have gotten into a number of duds.... or at least current duds. Gotten into one for a few thousand that went up to almost 30k at one point. I didn't sell because I thought it would go higher.. now it's at $1k. Whoops. Have another that I got into for about $4k and it was valued at $125k a little over a week ago. Back to about $70k now but I can't complain lol

I've been really considering taking a few thousand and playing around with day trading too. It can either go really well or really shitty. I think it would be a fun way to keep up with what projects are moving and keep an eye on the scene a little bit mo

We basically got into some scam/shit ICO's. We've stuck with one that's held up over the years but it's still been a pretty shitty investment. At the time, I think he and I both have sunk about $2k into this one ICO, and even after this recent bull run we've both probably got a net worth of $1k from it. And that's our best ICO.

If you wanna get into daytrading, I'd recommend joining some call channels on Telegram and looking at the charts for the calls they make. Looking at the trends for awhile I learned how to read some of the more technical stuff and started making my own calls off of the MA7 and and MA25 trends. By no means an expert analyst, but I've made some relatively solid gains from my own calls.

However, trading BTC_USDT pairs is probably a safer route to take right now, like @(you need an account to see links) said. It's fluctuating pretty heavily, and as long as you buy your BTC at a safe number when it gets some bad news, you can flip some quick money when it gets bullish news pretty quickly. Big companies are accumulating right now, so when it dumps it's not staying low for very long so it's almost guaranteed that you'll have returns quickly with it.

[Rambo]

Yeah I think premines and ICOs are pretty scummy. I personally carry a bit of Monero and Bytecoin. Started mining them last year when I didn't have to pay for power at school.

[Four]

I started BTC and ETH last month. I invest about 10k-20k whenever BTC hits a little under 10k and sell around the 12.5k mark which tends to be the current trend.
But two week I started day trading and my returns have been a lot higher. I bought an account with Motley Fool (which is for long term trading...)(99$ a year for StockAdvisor and 150$ for Rulebreaker[research tools]) I decided to get familiar with their charts and day trade with them(which they highly do NOT recommend) but have been great for me even when I'm at a loss because they tend to go back up safely due to their intensive/extensive research and connection to companies. In the last two weeks I'm at +68% and started with around 50k. If you guys don't know (probably do), you get x4 your buying power whenever you day trade with 25K+ (risky because you're using someone else's money) but the returns are huge.
All in all, no matter how I look at it, day trading and BTC short sells are gambling and losses are inevitable. Like Mophead said, don't get emotional, if you do you're gambling with money you shouldn't...
Or do what every successful billionaire traders say: diverse portfolio 15+ stocks, long term investments, sell when CEO changes, sells business, etc.
Good luck everyone!

You always buy under 10k and sell at 12.5k? What's your general turn around time for flipping that?

[sighcoe]

You always buy under 10k and sell at 12.5k? What's your general turn around time for flipping that?

The flip time was around 2-5 weeks from 10.5k to 12.5k.
But ever since I switched to Robinhood for crypto shorts with easy limit sell and limit buy, I've completely changed my strategy. I limit buy for current price when I log in and limit sell at 50$ higher than what I purchased. So sometimes it can be a couple seconds or a couple days. But a day like today, I traded about 52 times since it just shot up so many times. I recommend waiting for BTC to drop to around 9.8k to buy and use this strategy. I don't know if you're into stocks, but the S&P dropped like a bitch today because of Trump's tax increase in China import goods thing. So people are buying BTC right now thinking people are going to use BTC to purchase things from China to avoid that tax. But ya, learning about graphs is really important but news is power for BTC in my opinion.
Another advice I learned (if you're new to BTC) is to use your emotions. If you feel FOMO, 'everyone' is feeling it, so it's a good time to buy. And if you're fearing a drop, 'everyone' is feeling it, so it's a good time to sell. It's such a vague technique but it's got me through every dip except for one.

[Pinecone]

I wanted to give it a try a few years ago, but from what I've read, you can't mine cryptocurrencies just with your fucking laptop, so you need to invest some money to have a computer that can do the job.

And, I think I'm a little too late to the party, too.

[sighcoe]

I wanted to give it a try a few years ago, but from what I've read, you can't mine cryptocurrencies just with your fucking laptop, so you need to invest some money to have a computer that can do the job.

And, I think I'm a little too late to the party, too.

It�s never too late! I mean to make millions with a couple thousands maybe but definitely not too late to make a bit more income with your savings. It�s better than leaving money at home and in the bank. Even if you net 1% a month, it�s 10x better than a savings account. Just by dipping a toe into stock and crypto gives you a lot of knowledge about how the market works potentially leading to gold mines. Like right now... weed... I�m not guaranteeing when or how much but it�s predicted to be the next Amazon 1000% spike. You just have to know which ones and which CEOs are making the right moves. A lot of people are getting on this movement, especially a lot of my friends who work in investment banking for pwc and jp. I graduated from warren business so I have decent amount of knowledge and network. You can ask any questions here!
I recommend trying out Robinhood for beginners and if I refer you and you sign up we both get a free stock but can�t cash it out until 30 days but definitely fun to watch a free stock.
It�s really about fighting the urge to gamble and make smart moves. I�m in the middle and do a little of both. My friends cringe at my decisions lol. But I�m learning and naturally I�m making smarter decisions and holds, and gambling a lot less.


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[Four]

The flip time was around 2-5 weeks from 10.5k to 12.5k.
But ever since I switched to Robinhood for crypto shorts with easy limit sell and limit buy, I've completely changed my strategy. I limit buy for current price when I log in and limit sell at 50$ higher than what I purchased. So sometimes it can be a couple seconds or a couple days. But a day like today, I traded about 52 times since it just shot up so many times. I recommend waiting for BTC to drop to around 9.8k to buy and use this strategy. I don't know if you're into stocks, but the S&P dropped like a bitch today because of Trump's tax increase in China import goods thing. So people are buying BTC right now thinking people are going to use BTC to purchase things from China to avoid that tax. But ya, learning about graphs is really important but news is power for BTC in my opinion.
Another advice I learned (if you're new to BTC) is to use your emotions. If you feel FOMO, 'everyone' is feeling it, so it's a good time to buy. And if you're fearing a drop, 'everyone' is feeling it, so it's a good time to sell. It's such a vague technique but it's got me through every dip except for one.

Yeah, I just started looking into Robinhood for BTC, as a matter of fact. There's no limit on day trading for BTC like there is for the stock side of Robinhood? I'm definitely going to start doing that, I don't have enough saved up to do a full BTC, but I'm going to start buying with about 2k or so and try growing it from there day trading it.