Basics of crypto trading - Beginner level - (Abbreviation Definition)
HODL
Hold a position – Mr Gamekyubbi (Bitcointalk user id) has written and misspelt hodl (correct Hold) after having wine on Dec 18,2013. Bitcoin community picked wrong spelt word and used now HODL for holding the coin.
Source - https://bitcointalk.org/index.php?topic=375643.0
#BTFD
Buy the fucking Dip. This term is used to suggest to buy the coin when its price is going down or at bottom.
#DYOR
Do your Own Research – Traders are advised to read and do research about coin Technical analysis and fundamental analysis on your own. Trading/Investment should not be done as tips given by expert on their face value.
#FOMO
Fear of Missing out – When coin price is on bullish trend and Price is already up by 2x, 3x or more. Every smart trader is making money in this bull trade. But trader (who is not having this coin) is buying the coin at the top to ride on the bullish trend due to fear of missing out to earn the profit. There are high chances that coin price will have correction after bull ride and traders with FOMO will be stuck with their bag of coins.
#REKT
(Wrecked) Have a bad loss – When coin price is crashed heavily and traders are in heavy loss. Example – I am in rekt after Coin price dipped 80%.
#Weak Hand
coin holder selling the coin at the first indication of deep in price and not holding a position. Weak hand trader normally will do trading with emotion without considering TA and FA.
#Whales
Person who has big share of bitcoin or alt coin. whale may move the market and manipulate it by buying or selling a big quantity in exchange.
#Bags
Crypto assets to buying some quantity and hold for long term. Example - I have picked up one bag of Siacoin in this low price.
#Lambo
(Lamborghini car) – when lambo?....people are investing in coin with expectation of 2x-10X price increment. Profit will be so high that it will buy lambo car.
#Moon
Rapid Price increase by 2x-10x. it is to denote the price line chart going towards moon jokingly.
Source - https://www.reddit.com/r/Bitcoin/comments/1p2o9g/to_the_moon/
#Exit Scam
used for individual or company. Scammer will make reputation and brand building for their issued coin/Token/service. They will issue coin/token for BTC/ETH/USD to traders and then they will disappear. Example – Bitconnect
#FUD
Fear Uncertainty and doubt – Spreading rumor about coin with false story of its exit scam, hacks, government banning news etc. It will crash the coin price and FUDster will buy the coins at cheap price.
#FUDster
Who is spreading FUD.
#Shilling
creating hype around one particular coin (zero or less fundamental value) to increase its price to earn profit. This is also like market manipulation with hype.
#PND
Pump and dump – Manipulating of coin price for a short period. Coin price will increase in the range of 25% to 500% and again price will be dumped to old price within a short period of time.
#Dildo
Long Green or Red Candle
#OTC
Over The counter – when crypto Trader are buying crypto through peer to peer system and not through exchange. Some countries like India/China almost put a check to do crypto transaction with FIAT. So, traders in these countries are buying/selling crypto through OTC (peer-to-peer system). Some exchanges are giving service for OTC and they are acting as third party to help meeting buyer/seller. Also, ultrarich people are buying large amount of crypto through OTC instead of exchange as it has issues like price rise/fall due to high volume, exchange inability to handle such large amount of transaction, hacking probability etc.
#Shitcoin
Term used for altcoin which price, market cap and volume are very low. These coins are considered valueless.
I have covered all the popular abbreviation for crypto. You are welcome to add more terminology if it is missed in this article.
Happy Learning....
Now you’re figured it out!
I have figures it out when I have started trading 2 years back....these details are for new crypto trader.
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I'm always hopinf for a TA post but i kust get some basic term definitions. Would you consider teaching some TA basics?
I am going to write blog about TA basic and advanced in subsequent posting.
wow good analysis and nice concept sir..thanks for share..
very good information
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