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Crypto Currency Investors Thread - Investment (3803) - Nairaland

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Re: Crypto Currency Investors Thread by iLegendd(m): 10:27pm On Jul 21
Is this 68k price short position I took wrong? Yes and no.

How? The price is an even number, which is good, but BTC is not at overbought on the 1 week and 1 month time frame. So, there is 60-70% chances of losing this trade, but I don't mind.

Sometimes, a wrong trade can favor you more than a perfect one. If I'm to enter another short again, it must be at 74k, 78k or 82k
(because they'll love to push it to 75k to increase hopium before dumping).

I really pity these altcoins because if BTC sneezes to 60k, they'll bleed off 20-50% AGAIN! No be wahala be this? So, please, do take profit if BTC pumps today or tomorrow.

Joe Biden quitting the race is good for crypto, but the manipulators will want to do something with it.

3 Likes

Re: Crypto Currency Investors Thread by GRACEGLORY: 10:33pm On Jul 21
IronCastle:


Na person wey still get
money dey accumulate



Sell big caps to accumulate low caps
Re: Crypto Currency Investors Thread by GRACEGLORY: 10:34pm On Jul 21
GRACEGLORY:



BTC still breaking out... Next target @68K


Hit

1 Like

Re: Crypto Currency Investors Thread by narite: 10:36pm On Jul 21
Fastt:
grin grin
Lol…The hardest financial skill is getting the goalpost to stop moving.
Re: Crypto Currency Investors Thread by grandstar(m): 11:02pm On Jul 21
iLegendd:
Started another short in another Bybit account. The other one is still there. Why the short? I want the market to pump, but failure to do that, I'll smile to the bank.

BTC shakara don too much. If to say na woman, I for don dump am since.

I don't know why I project Bitcoin hitting $300k in the next 5 years.
Re: Crypto Currency Investors Thread by Tflex01: 11:13pm On Jul 21
If you are big you are big, no cap!

United States of America carrying the entire world on its shoulder like it's nothing. 😆
Re: Crypto Currency Investors Thread by Tflex01: 11:28pm On Jul 21
grandstar:


I don't know why I project Bitcoin hitting $300k in the next 5 years.

That is just about X5 from here. Very possible.

When we mention this kind of figures (eg 150k, 300k, 500k etc) some persons will say we are being too bogus but BTC has done more than X10 from the year 2020 low. And it will be easier for $BTC to do another X10 in the next 5 to 10 years with the current political and non political adoption.
Re: Crypto Currency Investors Thread by Chingyyy878: 11:38pm On Jul 21
grandstar:


I don't know why I project Bitcoin hitting $300k in the next 5 years.

300k, is this possible?
Re: Crypto Currency Investors Thread by harry2sexy(m): 11:40pm On Jul 21
XaToXi:


First things first, don't use isolated margin when hedging. If you had used cross margin, you won't have this problem you are trying to solve.

Secondly, since you have just 2 trades and started both at almost the same price, you can enable that Auto Margin Addition to turn this to a pseudo cross margin so that profits from the long can buffer the short.

Thirdly, you can close the long at market top if you know where that is and wait for dump to close the short. Could be daily or weekly resistance to close long.

You can also close both in the middle and start afresh in cross margin mode.

When hedging, it's better to start longs at support, shorts at resistance, use cross margin and make sure that shorts are not as big as longs.

Since your short is bigger than your long, try and close at least half of it as soon as you get a good opportunity to avoid stories that touch.

To your main question, you need to know how to calculate and place stop loss (using ATR, R:R, etc) as this will enable you close the losing side on time and allow the winning side run.

More info on YouTube and Google.

PS: Avoid martingale for now. You need deep pockets for that.

This thing don do further maths😂😂😂😂.

Alright, let me be serious.

I feel like market will be market, as at when i took that trade, from the 24hr chart, the candle of the previous days had been lower lows, i am not in a hurry.
So i favoured the short than the long, that's why on the short, i used $8 and 100% would be +$8 PNL while i used $4 on the long, so if the market chooses to go up, PNL would then be -$4.

But my question actually was can i then use $16 to short the market, so that i get a higher entry position and a higher liquidation zone while the long of +$4 is now probably on +$5 PNL, thereby breaking even on the short and taking profit on the long?

I just hope i made sense, NL needs to add that vn option cos even me sef don confuse.

Thank you for your input though, i appreciate
Re: Crypto Currency Investors Thread by XaToXi: 12:25am
harry2sexy:


This thing don do further maths😂😂😂😂.

Alright, let me be serious.

I feel like market will be market, as at when i took that trade, from the 24hr chart, the candle of the previous days had been lower lows, i am not in a hurry.
So i favoured the short than the long, that's why on the short, i used $8 and 100% would be +$8 PNL while i used $4 on the long, so if the market chooses to go up, PNL would then be -$4.

But my question actually was can i then use $16 to short the market, so that i get a higher entry position and a higher liquidation zone while the long of +$4 is now probably on +$5 PNL, thereby breaking even on the short and taking profit on the long?

I just hope i made sense, NL needs to add that vn option cos even me sef don confuse.

Thank you for your input though, i appreciate

If you have $16 you can afford to lose, you can add extra $5 shorts at 43.5, 44.5, and 49 resistance areas.

That should bring your AVG price to about $43+ . To increase your liquidation price in isolated mode, you will need to add extra usdt as margin without shorting. Your liquidation price should be above 66.5 to be safe.

The decision on what to do is totally yours but left to me, rather than increase the size of the short, I'll just add extra usdt as auto margin to take the liquidation price above 66.5 or even 77, then wait till 65+ to dca another short. #NFA.
Re: Crypto Currency Investors Thread by Babalakin(m): 12:42am
santos123:
Biden don spoil market
which market.
Lol

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