Thanks Luc! I was pretty excited myself about both entries lol. I've been searching Google for news on LGD but I can't find anything, no threads stood out in the popular forums that pulled up. Is there some trick to spotting news as it happens or do you just goto Google too? I did end up buying more and strengthening my position as it does have a history of respecting bases and at least if it bounces to my first buy I can get out unharmed.
With XRP I just missed my sell, would you lower the sell now or just be patient and keep it there, I mean it is Ripple and should get a bounce at some point.
Again thanks, I have been making plenty of other positive trades the past few weeks I would post them here but I do in slack instead don't need to clutter your thread up lol, just these two are ones that I have gotten in a little trouble with. Keep up the good work your the man!!
Yeah, thats why I usually sell some in levels.. I write orders to sell all coins near the base right after I get some coins, incase there is a reaction spike.. but as time goes by, like a few hours after my entry, then cancel that first sell order, because a reaction spike is less likely and I start to layer sells all the way back up to the base. Like you I have often missed my sell.. But after you miss it, its not the same odds any longer, its a toss up now.. it might turn back up and it might not.. The odds are no longer in your favor, its 50/50 now for XRP..
As far as LGD goes, its very hard to know what to do with that trade, I would be scratching my head? That looks like a news drop to me, because why would all the buyers disapear like that... I dont usually throw good money at a bad trade.. But you are right, that it has respected bases in the past.. Gah, its hard to know what to do.. There must be some news out there somewhere because it looks so ugly now.. Atleast make sure to take a break even, or small loss on the next bounce.. my rule is to always participate (sell some) on every bounce, when Im in a trade gone bad.. You have a real stumper here.. if I get some time today I might try to look up this coin for news for you.
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i've put in a sizeable position for this trade too and now am stuck. i've done some reading and this is a coin for a strip club in Vegas. the pump up was due to media announcements + hosting an event for mayweather vs mcgreggor. Customers who wish to become VIP's have to purchase 5000 LGD coins. if you look through the history of the coin you'll notice single day large spikes, followed by an immediate crash, probably the coins being dumped by the club owner.
there is another event on the 9 of september, however i dont expect it to be as big as the mayweather event. probably wont have as much of a spike. meanwhile dont expect the coin to move any higher.
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Ouch, so this coin is only used by a single strip club? Damn lol I wish i knew that before taking the trade. There's a huge boxing match coming up, I thought it was on the 16th, supposed to be two very legit fighters.....obviously nothing will get the hype that mayweather/mcgreggor got, hopefully I will be able to sell for break even.
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they have a twitter follow it for updates https://twitter.com/legendarycoin?lang=en
lesson learnt. always read the story of the chart. preferably before you buy ;)
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Thanks for the info, good to know I wasn't the only one who fell for that drop. Tried doing my own research when it happened and never got deep enough to make heads of tails of it, just praying for that spike lol
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Thanks Luc, I appreciate the advice, I'm gonna watch it closely and see what happens.
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in my stupid opinion, LGD is a club coin, i saw last few spike like a small one on wednesday 16.08.and another huge spike before weekends, and there are a few tweets on LGD offical some photos AFTER party. yeah, party is over I think someone still have some LGD are stripteaser who just received it. When people realize party is over, at least from thier official tweeter, there is no demand anymore, If i went to LGD club at weekends after enjoy that, i ll sell LGD which left on my hand. Nobody goes to club on Monday i think.and people will buy LGD when they need (buy some beer in that club,scan QR code to watch stripteaser dance)
Hope you will read this, that is my opinion and luc's method : Read the story behind the chart.
Thanks a lot
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So would you say just wait it out till the next major event or possibly the weekend when people are hitting up the club?
https://motherboard.vice.com/en_us/article/qk7g8p/a-las-vegas-strip-club-is-making-it-rain-cryptocurrency
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Im struggling with thinking is this actual "bad news" or just the way this coin behaves, I think it will spike again. There doesn't seem to be actual bad news per se. And if you read the article it looks like the club is going to keep using this coin. I think the real bad news here would be if they decided the experiment is up and no longer use this coin they created, but I don't think they'll do that. The real world purpose behind using the coin for people going to the club is to hide their spending habits......so my plan is to wait for the next spike (hopefully this weekend) or the next decent fight and then get out and probably will leave this one alone, unless we see clear trends of huge pumps right before a fight or something.
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Looking back this coin has pretty big drops historically and seems to always recover. I'm in it also and the impatient me was considering selling for a loss, but in reality it can take some time for some coins to bounce back (take a look at time frames between bounces on some coins). I'm holding on until we get some sort of bounce...
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Just got out of XRP at break even
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Hi Luc.
I'm a big fan of your videos.
Just got approved for the Steemit account and the main reason for me was to get in touch with you about the slack chat.... the link on your youtube video doesn't work anymore. Could you please let me know how to join the slack chat to be up to date with your material and trading strategies? I'm just starting with the trading and I know there is a lot space for a growth if I follow the right person / people.
Thank you in advance.
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Im sorry I don't have an invite for you. I don't moderate that chartoom, and so I am not making those decisions about when to allow more people into the room. Just keep watching here and likely they will be giving out invites again soon.
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