What else do you see coming so I can run the other way...lol.
CryptoCyberpunk
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@MarcKevinSwickle, lol
AvgJoe2019
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@MiljanMarkovic, its all good, I am not a trader, long term, i am happy it broke down picked up 560s...its craxy out there I dont think there are any rules really you can follow too much, a lot of panic buying and selling. BCH is a winner in the long term, need to let the 16th pass us by. Good luck.
CryptoCyberpunk
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@MarcKevinSwickle, i sold at 560 panicked , got in at 620. I dont know whats next for BCH should i reenter now at 590?
imkeshav
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@MiljanMarkovic, Friend, you panicking and selling and then getting annoyed with the experts here is not helping at all. Now you are asking again, what if he says enter and it drops to 450, will you curse him for eternity. Look at your posts below, you were basically lashing out at the world for your actions. Take responsibility man! I remember another trader advising you to go long, rather being anxious as you are most times. Does not work in Crypto.
My sincere advice is to have a plan and go by it and tweak it when necessary and put money that you can afford to lose.
I'm also very new but trying to learn from the experts here, but more important is being emotionally strong.
So, 20% of my BCH holdings were for trading and they were purchased at $610. My plan was to sell if there is drop below 590/585. Yesterday, I sold this when 590 was reached and after the appearance of a bounce from 585, I repurchased at 592 again
Today, I was outside when I saw the price drop to $615, then I came to know there was no 2X fork. I told my friend, I had to be home in front of my computer. But he needed my help with opening an account in an exchange, I helped him. Then the price was $605, I told I HAD to go.
I rushed home in 20 min hoping to sell of my 20% BCH and then to buy back on the dip. While parking the car, the price was $575, I rushed up and before loggin in and placing the order it was 550, I could only partly sell at 540, then I tried again and sold at 530.
I panicked and was pretty upset. However, I realized that I judged the situation correctly but could not act it. Looked at the situation and bought again most of it at 580 and plan to hold for a while now
CryptoCyberpunk
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@imkeshav, Wow u wrote nice little poem here :) Yes i panicked like 90% of the people. Just would love to hear and update since we are back to 600 -620
UnknownUnicorn1082152
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@imkeshav, set a stop loss next time or make sure you can access your account via your phone.
Would have saved you a lot of money.
Well said btw, it’s not like anyone could have seen this coming.
Chart looked right, TA looked right. It should have gone up but didn't, that happens.
imkeshav
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@CallmeB, are any of the major exchanges having mobile apps, I use Bittrex.
yvofox
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@CallmeB,
Setting a stop loss can work, but with a rapid sell-off it might not get triggered.
Be careful is all I'm saying
Mikelikescrypto
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@imkeshav, I've just stopped looking at it. It bounces in and out of channels, If you wanna play the channel find the bottom and maybe another support below and buy in those zones. When it reaches the top sell your trading position. If It breaks out the top that is the new bottom and time to buy back in. It can break a support then go back down, the key is a close above the support, then buy the bounce back if it occurs. Rarely does it not come back at-least once. Pay attention to the patterns that Excavo and others post. Those lines are the supports that are key, along with the Fib's .5 at 500. You could have set bids from 527-594 sell off part of the position in the 630 range, then buy back in and set a very low stop with little loss below key Fibs and supports.
The easiest thing to do is cost average, and just buy little by little on a timely basis. You could set bids in the 24hr lows to the current price range.