No, the platform I’m on does not allow shorts, and I wouldn’t really do that anyway. I’m on a market, not a stock coin exchange btw.
I’ll make this post on topic, by making it exceptionally off-topic, which counts as on-topic-WTF. HECK YEAH, I BEAT THE SYSTEM!
Ethereum is a slow coin. There are lots of it. The https://coinmarketcap.com/ is at 35 BILLION dollars, ranking as the second biggest next to the original BitCoin. There are almost 96 MILLION coins out there, compared to BitCoin’s 16.7 million, though for BitCoin there’s a hard cap at 21 Million+. Ethereum’s price doesn’t go up in the hundreds, it only goes up in the tens. There are so many out there, that many orders range from 20-50 coins, each coin costing a few hundred bucks. Wiping a whole order barely scratches the price.
That’s also a reason why I picked it. Eventually it goes up. It’s not a shitcoin. It’s tremendously stable. At the next low I buy more. I only had 6.9ish. Keeping 1.87~ for further use, because selling it all is dumb. Something unforeseen beneficial could happen. Sold the rest of the coins slowly with the rising price and earned about 60 to 40 bucks per coin.
Sheepish people look at me funny, when i tell them that I am intending to not needing to work anymore next year. At some point next year, not January 1st. Even if it has to be December 31st, I’ll reach my goal next year. I have a few friends who feel the same way about the mediocrity of “modern, civilized” Life, who believe in me. I have no interest in this kind of existence, shared with mindless, materialistic wannabe individuals, in a world created by politicians who ruin everyone’s lives, because of their long term political goals. “The end justifies the means”.
My friends also believe in me, because they know I’m able to pull it off. Took me way too long to realize it as a goal.
Things I’ve learned so far:
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Buying when the price is rising is like banking scams in EVE ONLINE (see Phaser Inc. as example): Get in early -> Get out early -> Win. In any other case kiss your money goodbye. DO NOT buy in times of heavy movement and growing prices (“BUYBUYBUY!!”), unless YOU ARE ONE HUNDRED PERCENT CERTAIN that you buy at a really early point in time during that phase. When you’re in the middle of the growing phase you’re too late. Further growth won’t pay off enough so you wait, and when people start cashing out, you won’t get to sell at a profit. Not only will buy orders fill faster than you can react, but also because the price will drop below what it was when you bought it. (“SELLSELLSELL!!”)
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Selling during growth > selling at a small loss > selling at a big loss. It’s dangerous trying to reach for the highest point of growth, because when people start cashing out you might not get to sell to buyorders anymore.
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Learn to recognize bot-like behaviour on your platform, if possible. Learn the circumstances and situations that trigger this behaviour. Exploit it.
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When you can do so, watch the orders as they are created, or filled. I’ve been just looking at movement for several weeks, almost all day. That way I’ve learned to spot bots and the platform’s people’s cyclic behaviour, which is exploitable. Balance is a sine wave around a price. As long as there is balance, you can ride the sine wave. As soon as an imbalance occurs (like when China dropped the banhammer) the price fluctuates and Balance is off. It’s important to know that such effects take time to wear off and natural, cyclic behaviour takes a bit to set in again.
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Be able to deal with regret. You WILL regret. You will regret not selling earlier, you will regret not buying earlier, you will regret not selling later, you will regret buying too late in a phase of growth, you will regret not buying at all, and so on. Going through this mentally taught me once again that Life’s biggest constant is a variable rate of Change, and that regret makes no sense because I can’t turn back time. Also:
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Learn to be opportunistic. It sharpens the mind and helps taking Life in your own hands.
There. That’s WTF enough. Send me a mail ingame if you have questions, or wanna chat. I don’t promise I’ll look at it today, but I probably will eventually. I’m just taking a break from looking at numbers and programming right now, and writing this post was quite relaxing and distracting. As Dracvlad says I’m not actually logging in anyway, I can enjoy the fact that CSM Steve Wozniak (whatshisnameagain) made a web thingy for in game mails.
Anyhow, growth has stopped. Waiting for a possible, but slow, rebound to happen eventually. Maybe tomorrow.
Ha…haha…
PS: What’s a c.1k max?
Also, WTF