VeteranXX
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you weren't
I assume that would be the average during that period, not the high/low
but still weird
anyway GG
give us ur next hot tip
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VeteranXX Contributor
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Quote:
Originally Posted by Mitchdubai
Hey Amram, I would like to get into this stuff, I have money, time on my hands and I'm naturally good with numbers but I know Jack about all this stuff, it sounds fascinating. I'm not the most patient person alive though, so where's a good place to start learning how to do the stuff you're doing?
How long you been doing this and are you generally profitable, do you need balls of steel and an understanding wife to ride out these margin bets?
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No other way besides loading up an exchange account with dollars and diving in, buddy. I've been into crypto for several years, passively trading until last year, and then actively trading since the real start of this bull run. Should've been a millionaire by now but I'm not so I must not be very good at it. Yes I'm absolutely profitable, wouldn't be wasting my valuable time if the returns weren't serious enough.
It's trading. No different than any other, except more volatile. You need balls and nerves to trade on margin, the losses are amplified and you risk having your account liquidated very quickly if your timing is ****. I don't force trades. Some dudes have multiple positions open 24/7, i can't do that ****. Most of those guys are autist degenerate gamblers with youth on their side and no IRL responsibilities. Ez money.
Open an exchange account wherever they'll let you. Binance is most popular and newb friendly. Buy some ETH or BTC. We're in a local dip right now so it may be a good opportunity to get in. From there you're on your own. Anyone telling you anything on social media is a ****ing paid shill. You can't watch a video or read a tutorial to get a feel for price action and relationships between assets... only experience will do that.
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VeteranXX
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Killing the planet...
I know it doesn't matter and just think of how much pollution the coal fired plants in China are churning out just for Bitcoin alone...
Don't really care just pointing out how money rules everything.
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VeteranXX Contributor
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The green nazis are too narrow minded to see the big picture. It's ok. They can stay poor.
"the ongoing climate crisis created by the mining of cryptocurrency,"
ROFL...yes the "climate crisis" is created by crypto. You heard it here first, folks.
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VeteranXX
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I put 30k into eth, fun times
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VeteranXX Contributor
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You're gonna lose it all.
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VeteranXX
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Be really careful with leverage or margin.
I used to get 2% on crypto (50x leverage) with transaction fees of about $10.
I would put up between 5 and 10k and take out $300K worth of whatever, easy peasy, watch it go up a few % and make out big.
The problem being it drops just as fast, if not faster and you can get ****ed really really fast. No problem if you can wait it out and it will go back up, the problem is when it dives by 10k and you have nothing left in the account, they will force the sale of everything you own and you lose big time.
I nearly got badly burned (holding gold) but managed to take out a hedge position in time which saved my ass.
I've really held back on the big margin stuff since then, it's addictive but deadly
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Tribalwar Admin
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yeh i know i tried warning you and got so frustrated with your failure to get why it was dangerous i just stopped bothering lol.
i was more curious to his costs and how it was calculating such a high return % on something that didnt go up that much. ITs a pretty nice tactic to get you hooked until you get ****ed.
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VeteranXX Contributor
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imma call bull**** on arak there sorry buddy... but even at 20x leverage you're basically facing a 1% move to get liquidated
taking 300k on margin against 10k collateral is suicide in crypto, if you even did it once successfully you should consider yourself lucky
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VeteranXX
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XRP
Leveling the playing field.
The calm before the storm.
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VeteranXX Contributor
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Q 6/15
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VeteranXX
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Quote:
Originally Posted by amRam
imma call bull**** on arak there sorry buddy... but even at 20x leverage you're basically facing a 1% move to get liquidated
taking 300k on margin against 10k collateral is suicide in crypto, if you even did it once successfully you should consider yourself lucky
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You're right, it was bull****. I used to do that with 300K gold and nearly got screwed.
Crypto was 30K-40K at 5X not 300K
Gold was 200X which is where I got into trouble
Due to new government regulations, my broker has now dropped all leverage rates - probably a very good thing for most people.
I was one of the lucky ones who still came out on top but many people have lost everything.
Imagine the insanity of 500X on forex or major indices
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VeteranXX Contributor
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VPN into ftx or binance, ez-pz
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VeteranXX
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I'm still doing OK, I have enough capital to still get good value without being a knob
It's actually a relief to have the temptation forcibly removed b/c I am a bit of an idiot with money, I burn it up and I don't really care
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VeteranXX Contributor
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Quote:
Originally Posted by ArakAtak
I'm still doing OK, I have enough capital to still get good value without being a knob
It's actually a relief to have the temptation forcibly removed b/c I am a bit of an idiot with money, I burn it up and I don't really care
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If your bills are paid and you don't have a family to take care of, isn't that what you're supposed to do?
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VeteranXX
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Quote:
Originally Posted by ArakAtak
You're right, it was bull****. I used to do that with 300K gold and nearly got screwed.
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stop bull****ting, we're well beyond our bull**** quota here.
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VeteranXX
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really? 300K of gold only requires a $1500 stake
I had a million in gold the a while back, just to see how it felt, only a $5K outlay.
so, no, no bull**** ronald
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Tribalwar Admin
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in the time you guys arguing if someone is bull****ting you could have made 45 million in doge
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