Baron's Crypto Trading Journal

Thankfully, I had already taken all of my coins out of BlockFi a few months ago and have not purchased new coins. They also are not letting anyone take their money out or sell their coins.

Since I am in the USA, I am thinking of opening an account with either Coinbase or Biance.us.

What do you guys think? I plan to buy some BTC and ETH and then move it to my wallet. If you use either of them, let me know if you got any warnings.
 
I have never experienced any of these problems/criminalities with my fiat money.
I also never lost any money due to currency crashes.
I always could withdraw any amount I wanted, deven if it would be big amounts.

What am I missing? Why people want to posses crypto's? What's the catch? All I see is that people get caught instead of having a catch.
 
virtusa said:
I have never experienced any of these problems/criminalities with my fiat money.
I also never lost any money due to currency crashes.
I always could withdraw any amount I wanted, deven if it would be big amounts.

What am I missing? Why people want to posses crypto's? What's the catch? All I see is that people get caught instead of having a catch.
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You have over 3,000 posts in a trading forum. You must be pretending to be stupid. Obviously, some of us including the owner of this site believe we can buy low and sell higher. Not that hard to figure out.
 
oraclewizard77 said:
You have over 3,000 posts in a trading forum. You must be pretending to be stupid. Obviously, some of us including the owner of this site believe we can buy low and sell higher. Not that hard to figure out.
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We can only analyze what was posted on ET.
23 positions were taken in three different crypto's.
All of them are in a loss, going from -22% to -89%.
Not that hard to figure out.

So reality shows that the buy low went already hugely wrong. Watching each opened position, it looks more that the strategy was to buy high.
And from the selling higher is still no trace at all.
Believing in higher prices to sell with profit are just wishes. There is no indication at all that this will happen. Clients from FTX also believed they could buy low and sell higher.

But you are 2 times more lucky then clients from FTX:
  1. You can still sell, victims from FTX cannot anymore.
  2. As long as you don't sell you have no loss according to crypto diehards.
 
Nope not going to sell, going to buy. People that bought low BTC at $ 500 are still in profit and many sold high. Nothing went wrong, we will see in the future if it goes back to $ 60,000.

When the other exchanges went bankrupt that was a clue to not hold your money in an exchange.

They did not lose money because of price but because of fraud. Client funds were removed and given to their sister firm that lost it trading. Also, just recently hackers stole another $ 500 million from FTX. I am surprised Barron does not put most of his coins in a wallet.

Also, I could care less if you buy, sell, short, or do nothing but preach doom and gloom on these forums.
 
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oraclewizard77 said:
Obviously, some of us including the owner of this site believe we can buy low and sell higher.
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Yes, but there's been lots of buying while bitcoin has dropped $55,000 or around 70%, the buy low sell high theory is best applied to a rising trend.
How often should one keep attempting to catch a falling knife with their bloodied hands?
 
themickey said:
Yes, but there's been lots of buying while bitcoin has dropped $55,000 or around 70%, the buy low sell high theory is best applied to a rising trend.
How often should one keep attempting to catch a falling knife with their bloodied hands?
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All of my purchases have been under $ 20.,000 BTC. I really don't agree with a falling knife for BTC, I have seen falling knife patterns when day trading. There is a difference in buying at support levels in a down trend which is not the same as trying to catch a falling knife. Also, my purchases are going to be spread out over time.
 
oraclewizard77 said:
All of my purchases have been under $ 20.,000 BTC. I really don't agree with a falling knife for BTC, I have seen falling knife patterns when day trading. There is a difference in buying at support levels in a down trend which is not the same as trying to catch a falling knife. Also, my purchases are going to be spread out over time.
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I can agree with day trading crypto or quick in and out swing trading if fast on entries and exits but from what I'm gathering from many comments on ET, the majority have a belief crypto is a good long term buy and hold proposition.
 
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