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65 Pages«<62636465>
Bitcoin: Does it have a future ?
Jon Jones
#1261 Posted : Sunday, October 25, 2020 12:31:46 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
Minor correction incoming any time from now into early next week. Weak hands/retail that FOMO'd last week have to be shaken out. I'm out of crypto as of now for the next few days because it might get ugly in a hurry.
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1262 Posted : Saturday, October 31, 2020 1:07:07 PM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
31st Oct 2008: Bitcoin's whitepaper was published.

31st Oct 2020: It hit $14000 per coin.

It's still not dead.



snifadog
#1263 Posted : Saturday, October 31, 2020 6:11:06 PM
Rank: Member


Joined: 6/6/2016
Posts: 157
Location: Nairobi
Jon Jones wrote:
Minor correction incoming any time from now into early next week. Weak hands/retail that FOMO'd last week have to be shaken out. I'm out of crypto as of now for the next few days because it might get ugly in a hurry.




you and mnandii same wozap group :) we will be closing with the highest monthly candle ever after touching 14k. now waiting for the omega bullrun for alts to make me the big bucks
Jon Jones
#1264 Posted : Sunday, November 01, 2020 4:08:23 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
snifadog wrote:
Jon Jones wrote:
Minor correction incoming any time from now into early next week. Weak hands/retail that FOMO'd last week have to be shaken out. I'm out of crypto as of now for the next few days because it might get ugly in a hurry.




you and mnandii same wozap group :) we will be closing with the highest monthly candle ever after touching 14k. now waiting for the omega bullrun for alts to make me the big bucks


Shame on you Shame on you Shame on you

Not really. Even pros get it wrong sometimes, but not too often like Mnadii. Mnadii's calls are too erroneous to be traded profitably. His win-rate is unacceptably low and his risk-reward is mediocre at best. I may have exited early, I admit. But I didn't go short and proceed to lose money. I am always long or square but never short in a bull market.

That being said, I still wouldn't hop back in at current prices of $13,700 (as a short term trader). Getting in at current prices would only make sense to an investor looking to hold long term and probably take a bath or average down in the interim. In the short term, the risk of getting in right now isn't worth the potential reward and those buying at current prices for short term speculation will probably get roasted.
Since men have learned to shoot without missing, I have learned to fly without perching
longtrader
#1265 Posted : Thursday, November 05, 2020 3:40:56 PM
Rank: Hello


Joined: 11/5/2019
Posts: 4
$14,800 and rising.....another 2017 run??
Jon Jones
#1266 Posted : Thursday, November 05, 2020 7:53:02 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1267 Posted : Thursday, November 05, 2020 7:56:41 PM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly

Jon Jones
#1268 Posted : Thursday, November 05, 2020 11:25:08 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
rwitre wrote:
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly



Will you buy at 15k?? You're a braver man than I Applause
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1269 Posted : Friday, November 06, 2020 9:31:57 AM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
Jon Jones wrote:
rwitre wrote:
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly



Will you buy at 15k?? You're a braver man than I Applause


DCA is the way.
A little amount periodically regardless of the price.
Hodl through the -30% corrections
In 5 years, the tops and bottoms of today won't matter.
snifadog
#1270 Posted : Friday, November 06, 2020 2:02:38 PM
Rank: Member


Joined: 6/6/2016
Posts: 157
Location: Nairobi
yikes, this run seems crazy, it's now knocking at 16k! spot volumes on binance are at record high. the fall of bitmex perhaps has given us the bull market we have been waiting for :D
Jon Jones
#1271 Posted : Saturday, November 07, 2020 3:20:36 AM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
I got out of BTC early. If bitcoin goes sideways for two or three weeks, alts will have a very big party. If it dumps, alts will dump more.
Since men have learned to shoot without missing, I have learned to fly without perching
Jon Jones
#1272 Posted : Monday, November 09, 2020 10:40:53 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
Altseason is back. All my bags are squarely in the green. I'm glad that I went for the jugular Drool Drool Drool

The herd will join us fully in a few weeks. We will need people to sell the heavy bags to. Rinse and repeat with professional risk management.
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1273 Posted : Thursday, November 12, 2020 9:18:43 PM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
PayPal Removes Waitlist for New Crypto Service>>Link

Boosts Weekly Purchase Limit to $20K

Quote:
All eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency, the company announced Thursday.

“Due to initial demand from our customers, we’ve also increased our weekly cryptocurrency purchase limit from $10K/week to $20K/week,” PayPal spokesman Aaron Gould said Thursday.

Plans to bring crypto services to Venmo and international customers in the first half of 2021 remain unchanged, Gould said.
snifadog
#1274 Posted : Friday, November 13, 2020 10:44:55 AM
Rank: Member


Joined: 6/6/2016
Posts: 157
Location: Nairobi
this next rally will be truly parabolic. the golden one! get in the right shitcoin and you can retire once it blasts off. achana na mambo ya kujenga ma bedsitters for rentals!
rwitre
#1275 Posted : Tuesday, November 17, 2020 3:21:58 PM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
Jon Jones wrote:
rwitre wrote:
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly



Will you buy at 15k?? You're a braver man than I Applause


12 days later. $17,000 on exchanges.

In Nigeria: All time high at 8 million Naira (inflation caused this)

Meanwhile Citibank Analyst calling for $300k by 2021.

GrayScale holding over 500,000 BTC

Wyoming voted for Bitcoin enthusiast to U.S Senate.

Skybridge, Billion-Dollar Hedge Fund ($7.7B AUM) tells SEC that it may invest in digital assets like bitcoin

Network effect kicking in.
Profit-takers, shorters and miner selloff not enough to fill the buy demand.

......and Bitcoin has only been above this price point for 10 days throughout its entire history

Yes, it can crash 30% before breaching ATH. But what are the odds?
snifadog
#1276 Posted : Wednesday, November 18, 2020 8:48:07 AM
Rank: Member


Joined: 6/6/2016
Posts: 157
Location: Nairobi
BTC will be at 19k soon. Yikes this pump is something else. vertical! sad i got caught flat footed. deep in the alts basement.. RED
rwitre
#1277 Posted : Wednesday, November 18, 2020 10:14:27 AM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
snifadog wrote:
BTC will be at 19k soon. Yikes this pump is something else. vertical! sad i got caught flat footed. deep in the alts basement.. RED


Not late. Join Salinas. World's 166th richest person. Forbes puts his networth at 11.8 billion USD

Mexico’s second-richest man invests 10% of his liquid portfolio in Bitcoin

"Bitcoin protects citizens from government exploitation. Many people ask me if I have bitcoins, YES. I have 10% of my liquid portfolio invested in it"

Quote:
Ricardo Salinas Pliego shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster. He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.”

The video appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017 — before the country redenominated its banknotes in 2018 amid an escalating inflation crisis.

Three hours later, Pliego then tweeted a recommendation for the book The Bitcoin Pattern, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment:

Jon Jones
#1278 Posted : Thursday, November 19, 2020 5:04:56 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
I'm net up but the pullbacks ain't no joke, even with proper risk management. The next leg up is inbound. The long green candles are back.

Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1279 Posted : Friday, November 20, 2020 3:05:02 PM
Rank: Member


Joined: 3/8/2018
Posts: 456
Location: Nairobi
Jon Jones wrote:
I'm net up but the pullbacks ain't no joke, even with proper risk management. The next leg up is inbound. The long green candles are back.



I see lots of green.
LTC, AAVE and SNX +20% in 7 days.
YFI and WAVES doing +60%
Start of alt season?

Good luck though. Alts give some of us high blood pressure. Laughing out loudly Watching from a distance.
Jon Jones
#1280 Posted : Saturday, November 21, 2020 4:15:18 PM
Rank: Member


Joined: 9/11/2015
Posts: 195
Location: Thika
rwitre wrote:
Jon Jones wrote:
I'm net up but the pullbacks ain't no joke, even with proper risk management. The next leg up is inbound. The long green candles are back.



I see lots of green.
LTC, AAVE and SNX +20% in 7 days.
YFI and WAVES doing +60%
Start of alt season?

Good luck though. Alts give some of us high blood pressure. Laughing out loudly Watching from a distance.


It is a delicate balance. That's why as a professional trader, you have to manage risk. The idea is pretty straightforward. You have a series of winners and losers, but the winners are large enough to pay for the losers and leave a massive profit. That's how professional trading works. A pro must have an all inclusive strategy.

- The strategy must have a statistical edge. Most retail traders don't even have a strategy let alone an edge. They just buy and cross their fingers.

- The strategy must have a reasonable win rate that is psychologically survivable. Anything around 50% win rate is acceptable. A strategy can be extremely profitable but with a very low win-rate. That makes it psychologically challenging to implement because you just have to miss one big trade and go through another long run of losers.

- The risk-reward must make mathematical sense e.g risking 1R to make 3R. The whole point of trading is making more money when you are right and losing less when you are wrong. Taking small managed losses is part of the game.

- You must size correctly. No professional trader will go all in on black and hope for the best. You can use Kelly's Criterion to determine how to size your positions. You can have a strategy with a statistical edge, but if you size incorrectly (too big), you might experience a very large drawdown from a bad streak e.g five losers in a row. On the other hand, if you size too small, you will take forever to make a meaningful return. You size too big, you blow the account, you size too small, you make peanuts. You must know the optimum size that prevents large drawdowns and gives reasonable returns. If you are careless enough to lose 33% of your bankroll in any way, you will need to make 50% profit to get back to break even. There reaches a point where the odds of ever recouping that money are extremely low.

Those are just the basics for professional traders. There is some level of mathematics involved in trading professionally.

Back to your observation, I bought SNX cheaply and I'm still riding that position. I'm net up 27%. Exited RSR yesterday net up 50%. Still riding Sushi net up 22%. Riding Uniswap net up 4%. Exited Band with a loss of about 6% twice i.e the coin burned me twice. Also Exited RLC with a 7% loss. All that in less than a week!! My winners far outweigh my losers so its all good. Drool Drool Drool

In trading, you need to have a thick skin like a rhino to survive the pullbacks and stick to your guns. But the hustle is worth it when you look and find several thousands (USD) in your PNL when targets are met.
Since men have learned to shoot without missing, I have learned to fly without perching
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