₦airaland Forum

FlyHeight:
I guess I’d have to come back in 6 months and tell you guys how I did. I am hoarding over 3m in rip to see what the outcome is with their lawsuit. I’m however trading with it daily so it’s not all bad yet but I’m aiming for 200 NGN each, at that rate I’d make over 40% which is fair for Me.

Different traders have different patterns and if you trade it successfully then why not.

I also bought some at the lows and waiting for certain targets. I don't bother myself too much about the news. The TA and PA has alot already. I'm ready to add more tp exrp once it closes a weekly candle above certain targets. For now my capital is best ploughed into other projects

My advice is to new folks who'd rush in because it's cheap. With alts, I don't get married to them. The top 10 altys in the next run (aside eth) might be absolutely different from what we have now. Also people forget that this bull run will come to an endand if your alt hasn't moved by the end, when betece corrects, it'd also dump too.

Houston17:
But I noticed the amount charged via Fiat is much more than that of card. For instance ET eh cost 515k approximately with card but via Fiat it cost 599k

I doubt you're sure of what you're saying.

On binance, if you deposit fiat, you can set to at market price and pay a very tiny sum as trading fee. Buying directly with card wouldn't be cheaper except you're going about it the wrong way

luvlyoracle:
Yea...unfortunately i sold...currently regretting why i sold... I sold when Btc was 29k and bought again at 31500...currently no reserves for REN and ADA
We learn everyday though..
My plan is to leave long term.



At this point my stakes are mostly 40%Link and 40%dot.

20percent Atom


My question now is which of these coins do you think would give high returns so i could withdraw and invest more as am abit at loss currently.

Regarding your coins, I'd say look at certain things.

Dot, is currently the 3rd highest market cap by volume. It's gone from 4 to 20 in under a month. It's in a bubble already. I can't say if this is the top cos it can keep going parabolic, but I wouldn't advise to have 40% of your portfolio in it at this stage. It'd retrace and it's retrace wouldn't be sweet. It'd do that when others are pumping.

I took half of my stash out btw 17-18... I'm watching how it plays with the 20 level... Personally, I don't think there's much steam left in it.

Ren is a sweet one if you're a day trader. It goes up and down anyhow... The 0.5- 0.6 level is now strong demand which it has retested. It should run in the coming days but give it a breather...

Ada... This has moved heavily in the past weeks, it'd still move but don't get stuck on it.

Link- this is the sweetest for me... Clean break of ATH and retest... My worry is that many folksare talking about it hence it's pump may be dalayed... But it'd sure move and when it moves, it moves.

Finally if youre here for the long term, why are you not in eith? Hope you know it'd perform all these you listed aside betece in the long run. Once it breaksATH and moves, then going into other smaller altys would be free money..

That said, betece has had a major move, it's unlikely to be a V-reversal. It should take sometime. It needs to consolidate a bit, and you can't tell how altys will behave... So far they've done well, but if it shows weakness, they may drop further

luvlyoracle:
Yea...unfortunately i sold...currently regretting why i sold... I sold when Btc was 29k and bought again at 31500...currently no reserves for REN and ADA
We learn everyday though..
My plan is to leave long term.

At this point my stakes are mostly 40%Link and 40%dot.

20percent Atom

My question now is which of these coins do you think would give high returns so i could withdraw and invest more as am abit at loss currently.

Oops... Buy high, sell low. You literally sold the bottom..you remind me of myself when I started. How are you sure betcoin will not give u another chance to buy at 29-30 in the coming days?

That's why I advise folks against day trading. If you're not skilled, you get caught in that trap if you don't see the big picture.

You made at least 5 mistakes which are
1. Panic sell- self explanatory. This is very different from cutting your losses when things don't go your way. That is risk management while this is giving your money to the market

2. You sold into support- in this space, never sell into support moreso a very strong one. If you want to sell, do that after it's lost support and confirming it as resistance.

3. You followed the crowd- in this space, market sentiment is key. It almost never fails. The majority are ALWAYS wrong at the extremes of a trend. They may be right when the trend is in play. There are people I follow on Twitter to guage market pulse. Once I log in and most are saying eith will pump, I just know it wouldn't. You should profit from the sentiment and not be the sentiment others profit from.

4. You buy on red days not sell. This is tricky so you don't try to catch a falling knife. Betece doesn't dump 10-15% everyday. Ask yourself, how much lower can it dump before you panic sell... Like I said b4, a proper dump will not give u the opportunity to sell once the trend changes... You'd see what I mean soon.

5. You didn't see the big picture- that's why most early day traders are eaten up by whales. Some new folks here just buy blindly, hope it goes up so they sell. That's the second easiest way to serve yourself as dinner in this space. Nothing moves up or down for no reason. To profit from the volatility, you have to have know where and at what level it's likely to move up or down. The first is trading leverage without risk management.

The big picture is simple.. between 20-29k is a support cluster. There's 28k, 25.5k, 23k and 20k. These would all be tested one after the other in a drop and it can bounce at any of them before continuing down. If you had this in mind, you'd see that selling at 29k wasn't sensible.. cos even if it continued to 25k, it'd likely bounce back to 29k before continuing down.

Don't feel bad about it. We all make mistakes.. the issue os not to repeat them.

luvlyoracle:
bought at 0.65

Your ren, link, dot and ada should be back at breakeven or close to it. You see the reason why one should not panic sell or panic buy...

The question is what do you plan on doing now?

MasterGift:

Another trash....

How long have you guys been blindly following this pi network?

It's because of folks like you that discussion on crypt0 were banned here for a long time.

solreb:
There are so many HYIP (high yield investment platform) like this that promises 3% daily which are all scams. I lost more than $1000 in 2013 on several of them before I learnt my lessons. My advice is to run away from any of such investments to avoid stories that touch!

The annoying thing is that the hyip guy keeps jumping around luring folks into his trap for a 1 dollar referral bonus. Just imagine.

He claims to have made betece from over multiple sources but ask him to expatiate on one of those sources and how he's profited and he goes mute.

There are knowledgeable folks here. If one wants to sponsor a fraudulent scheme, he should respect us and at least not be kindergarten about it.

kings11ng:
Same thing that happened when I bought 5k worth... I was charged 8k

Most exchanges charge a premium when you buy with a card. Such charges are stated clearly.

For Binance, why not fund via a bank transfer

Jerry59:
Okay thanks i use trading view and tabtrader

Trading view is great on a PC... Not so muchon the mobile app.
I haven't used tabtrader... I'm looking for a sleek app on Mobile. I'd check out their mob app and see

Jerry59:
Boss which app did you use for viewing this range of chart

The crypt0 fear and greed index is freely available online. Just google it.

For other charts, I use trading view

Hskyassociate:
Good afternoon all.....

If you want Everyday 5% drop to your .....

Good luck...

How much has dropped to your account and for how long have you been doing this?

money121:
Thanks so much for your patronage!!
For your next Roofing Project
Call/Whatsapp 08085310359

Do you do jobs in the North?... Abuja- Kaduna axis

lavylilly:
Quick question between crypt0 and stock which one pays more and is stable

Let say you invest

$100 -crypt0

$100- stock


After 2months which one do you feel will pay you more

After two months, you may be at a loss or breakeven in both. Both of them are not 'get rich quick' schemes. You have do study them, their past trends and step in at the right time.

There's a stock market and crypt0 discussion thread. You can follow them and ask your questions.

https://www.nairaland.com/6318352/crypto-currency-investors-thread/23#6318352.760

https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/6239

djoe21:
Buy, hodl and pray they win their court case. It is 50/50 but a risk that is worth taking.

To me, Hodl and exrp do not go together. It's the easiest way to get rekt. This is a coyn that has consistently performed much worse than betece and eith over the past several months and folks are saying hodl. It's like having the money but choosing to buy a land in Maiduguri instead of Ikoyi because land in Maiduguri is cheap. Good luck with that.

That said, it seems it's due a temporary reversal against betece and I'm targeting a move up to sell. I wouldn't advise someone new to go anywhere near exrp... I made that mistake and have learnt. Others don't need to make it.
In human nature folks are keen on being superman. They want to say I bought what others were fearful of. Hehehe....Trading is easy when we follow the basics

Nice views from all angles..

You guys can join the discussion thread and share ideas

https://www.nairaland.com/6318352/crypto-currency-investors-thread/23#6318352.760

Who else uses the cryptoo fear and greed index for confluence?
It's quite a new one but I've used it in the past to hood effect.

Looking at it, it's quite obvious, the 38-42 level is key... Above that level, we're good below it isnt nice. It had currently dropped to 40, testing it as support... Lets see how it plays with this level over the bext weeks

What's more interesting is that altys have held their levels on this drop

Yesterday's candle wasn't the best... What happens today/tomorrow is crucial for the coming weeks. I dont trade just on trendlines only but the way they can be respected is amazing. Later on, I'd share a trendline I've been following for months which is interesting and why I believe the botton is in/ almost in on this drop. If it goes much below this, then we'd be at the lows for sometime.

Technically, we've not broken 30k on the 4hr or daily yet. Inability to break that support meals a relief bounce at the very least would be due.

Although bulls haven't shown up considerably, but this drop was too slow for a trend reversal. It's such drops I panic sold into in my early days. When betece sells off, it's not thus merciful.

Also, this was similar to what happened at 20k a while back.

bradwilli:
i just found that now and i did go for a limit order when the price gets to a certain level. Thank you for this info but you can teach me more if there is pls

Go on YouTube and search for a video on 'how to place a limit order on binance' it's thesame concept that'd work on any exchange

bradwilli:
how do i avoid such fees or is there a way i can buy to avaoid that?

I'd explain a bit on liquidity. In traditional investing, it's defined as how long and at what cost it takes to convert an investment into cash.

Like someone said, you can excape paying extra, you have to place a limit order i.e place an order that is not at or below the market price. A market order buys at whatever price people are willing to sell even if it's lower or higher than the ideal price.
The issue with Luno is that the liquidity is low on the eith/ngn pair i.e number of orders on the table. So your limit order may take hours - days to execute in less volatile periods.

I used this to my advantage b4. On days of high volatility, I would market buy unbought limit orders on Luno and it'd be way cheaper. I can quickly transfer it to binance and sell at a good profit.

I added screenshots of executed orders on the eith/ngn pair on both luno nd binance and the eith/usd t pair on binance... Look at the time of execution and you'd see the concept of liquidity. What's sold on the usd t pair in one second is not sold on the ngn paur in one hour or even day.
It's for this reason I trade the usd t pair. I only trade ngn when I want to withdraw cash.

If you're buying small amounts, then the ngn pair may be easier to follow. If you're buying and selling huge, then I'd advise the usd t pair. To do this, you have to first convert your naira to usd t. Also, the ngn on its own keeps depreciating and having usd t as your reserve saves you from that

Ojemedad:
When is the best time to buy Btc, now that is falling or when it has climbed?

Do you want to buy when everyone is buying or when everyone is selling.
The market hardly gives the majority what they want.
You want to take profits b4 the market turns

You want buy significant dips. Knowing which dip is significant is tricky.

The reason why I'm advising folks already in not to panic sell now is cos theyre likely to buy higher cos even if it drops to 20k, they'd be waiting for 16k.

BabaGrinz:
Oga..if I no de do am I won't be talking abt it and beside I can't even remember d last time I actually really bought BTC ..well every man with e own cutlass..weytin work 4 u no mean say e go work 4 d next man...all I'm sayin here na just idea
#peace

If you've seen the idea is sensi8and profitable then share how you went about it so others can learn

I'd say one lesson today has reminded us is the principle of averaging in.

As a trader in this market, it's not advisable to go all in at once... If you're looking at a long term trade, get in slowly... For example, if I've been looking at getting into betece on a pullback, I'd start averaging in at 31k, keep some for 30k and some for 28k (if we get it). And also have some in hand

luvlyoracle:
well....we learn everyday..
What do u suggest i do at this point?
You think they would still recoup on a long term?

Long term is too far sef... Nothing is certain but don't be surprised you'd be chilling soon... This drop is quite good for alts... They performed better than betece on the drop and should rebounce harder on the way up....

On a good day, when betece drops 10%, alts drop by 40% or more..

I've traded this market to an extent that sometimes, it's not hard to know what betece may do next...

Betece major sell offs are usually swift. Whales take profit, market sell in hundreds of millions and it dumps.. it rarely gives folks time to sell.. The market is never thus merciful in a proper sell off

Same also when betece tries to break a resistance unsuccessfully for a day or two, it usually retaces...

Just a trend I've noticed and traded successfully

When betece starts going down very slowly, a good number of times it rebounces within the range...
The bottom of this range is around 27-28k, don't be surprised we may not go below 30k before bouncing towards the range high I expect bulls to show up soon... I'm waiting for the daily close to see.....

luvlyoracle:
bought at 0.65

Hehe... I don't buy coins that have done more than 10-20% in a week unless on special occasions.

It's on days like this, I look at averaging in

condomuser:
Just read this on coindesk, some of these comments are hard truth.

Let us be guided, some if not all of the heavy investors in bitcoin are hedging against a potential crash.

The way folks flip bias in this market is interesting. Betece has not made a lower low yet and folks are confidently calling the top.

If it pumps next week, they'd start mentioning 100k...
This market usually goes against the majority

BabaGrinz:
Na wa oo.....i've been reading thru the comments on this thread and I've come to understand that the only way most of u guys earn
#Peace

Can I ask... Which of these means have you tried and how successful has it been?

condomuser:
Quite a loss, beetcoins is at 31k now, the inauguration of Biden has put confidence back for investors who trusted bitcoin as a safe haven, they are now pulling back on bitcoin to put money into real assets.
You could cut your loss now or put your coins under your cupboard.

Hehe... Not advisable to flip bias from morning to evening

NairalandNurse:
On luno, my BTC keeps dropping. From #105500 to #92,000. Please what do you advise me to do.

I need money by Sunday morning.

Hehehe... We're realy in a bull run

luvlyoracle:
Atom
Ren
ADA
Dot
Link
Bought when Btc was 36k plus

Hehe... At how much did you buy ren?

condomuser:
Has anyone withdrawn funds from Binance into their personal bank account, how long does it take from making request on Binance platform to being credited in your Nigerian or foreign bank account?

Can be quick in less than 5 mins or sometimes upto 24hrs. Bundle is quicker. Usually less than 5 mins

Umarzy:
Next gem- DYOR

Folks be careful with these...