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....
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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.
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I was focusing on the prize instead of the process.. Sure fire way to lose.
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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 .....
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Well @tammyp, if it is about LUCK, it is gambling and not investing..
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Oh look at that, is that admitting the problem? lol. Just saying, if you take a risk it should be worth the reward.
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That's a great idea. 15% is a pretty hefty bet, I wouldn't feel bad that you didn't go even heavier.
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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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