With Bitcoin Mooning The Alts Are Crashing Down!
The market was parabolic last night. If you're a somewhat active trader or if you have a diversified portfolio of currencies you believe in, then last night was your chance to get in on most alt coins at a discount. Almost every alt coin was on the red. With most of them dripping at least 20%! Bitcoin and Ethereum are holding strong. With bitcoin still fucking skyrocketing, and as it keeps getting higher the alts are dropping.
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I saw a lot of panic sellers last night trying to get out of their positions before they took what they believe is a loss. I have holdings in a few of the dipping currencies, but I didn't let it bother me. I saw it as an opportunity to pick up more for long holds. I ended up selling 14 of my ETH and diversified them in other alts. STEEM being one of them of course. I woke up this morning and my portfolio is already up 15%! I wish I had the balls to trade out more of my holding ETH but I didn't want to be too greedy and I wanted to manage my risk. You never really know what is going to happen, I've seen the market react like this before and I missed the ride because I let my emotions get the better of me. I sure as hell wasn't going to miss it again. Risk reward kind of thing I guess. I only wish I was holding BTC.
The market is mostly still in the red with a few recovering slowly. What do you think? Do you see this as an opportunity to get on alt coins at a cheap price? Did you sell? Or are you just sitting? Let's discuss. Thank you so much for reading. Until next time, deuce.
I was caught margin trading STR and was long. I didn't have a stop set.. Lost 2.6BTC yesterday.
I know better, but had gotten cocky. I suppose there were too many easy up trades over the last month or so....
Ouch! Sorry about that man. I'm still learning and margin trading is something I'm not comfortable playing with yet. I've heard a lot of horror stories involved with it. Can be very profitable though.
I was focusing on the prize instead of the process.. Sure fire way to lose.
So Sorry @snubbermike! Seems like you were not the lone ranger...... it is about the game and not the money - so better LUCK next time .....
Well @tammyp, if it is about LUCK, it is gambling and not investing..
Oh look at that, is that admitting the problem? lol. Just saying, if you take a risk it should be worth the reward.
That's a great idea. 15% is a pretty hefty bet, I wouldn't feel bad that you didn't go even heavier.
Thanks. Yeah, I try not to be greedy. I've done really dumb trades before, now just I'm trying to be a bit safer and to manage my risks a bit better.
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