[Tengocity]

For those using Etoro here are the things I've learned over the last few months:

Make multiple small trades - easier to close some to take some profit or re-invest in another without incurring large transaction costs

Watch the spread (margin for the broker) as it gets very wide when it's highly volatile. This has made day trading a pretty pointless exercise for me, so holding for a longer term view seems more sensible.

If you chase the one that's rising, you can often miss the next one to go on a run. Difficult to judge, but having missed a few I've now got a holding across all the main ones. On something so volatile then spreading your risk and opportunities makes sense to me.

The biggest lesson for me is that trying to time the market is next to impossible - you can't watch it 24 hours a day and you really shouldn't if you've got a job/family/life! You end up selling and buying at the wrong time more often than not.

Most of it is obvious once you've been doing it a while, but it may help someone that's new to it.

[gr4z]

Are you guys leaving your XRP on the exchanges where you bought them or offloading into a wallet? I know offloading is the safest but what happens when you want to sell?

Which wallet is best for XRP? I have rippex installed only because I read someone else was using it!

[skipraider]

Originally Posted by saltyamigo

Here is a screenshot of the history showing some of the losses on the fund, shows XRP at under 20 cents, Bitcoin at 4286 and Bitcoin Cash as worth nothing. As I said its only virtual cash but still worry's me that something similar could happen to real money.

That looks really weird. No way did BTC drop to 4286.1, same goes for the others. Weird how most of them all closed at exactly the same time too.

[MashinBenzin]

Originally Posted by Tengocity

For those using Etoro here are the things I've learned over the last few months:

Make multiple small trades - easier to close some to take some profit or re-invest in another without incurring large transaction costs

Watch the spread (margin for the broker) as it gets very wide when it's highly volatile. This has made day trading a pretty pointless exercise for me, so holding for a longer term view seems more sensible.

If you chase the one that's rising, you can often miss the next one to go on a run. Difficult to judge, but having missed a few I've now got a holding across all the main ones. On something so volatile then spreading your risk and opportunities makes sense to me.

The biggest lesson for me is that trying to time the market is next to impossible - you can't watch it 24 hours a day and you really shouldn't if you've got a job/family/life! You end up selling and buying at the wrong time more often than not.

Most of it is obvious once you've been doing it a while, but it may help someone that's new to it.

This is all true and, as you say, takes a few days and mistakes to learn. Valuable info for new entrants.

[MashinBenzin]

Originally Posted by 225

Very very small profit on xrp at the moment just wondering whether to dump my by and invest more in xrp?

Did you only invest yesterday? I would sit tight. Volatility is off the scale on these things and what looks bad now may look fantastic in an hour, a day or a month.

FOMO ( fear of missing out) is a powerful driver in wanting to move to today's rising coin. But tomorrow's may be different and you are in xrp already. If it rises loads you are quids in, if it doesn't then it matters little that you didn't buy more.

[MashinBenzin]

Originally Posted by JLR1969

This will happen for weeks as the traders milk the public

Yep, the same dudes had increased my profits by 100% in the previous 24 hours though. Win some/lose some

More seriously, your note of caution (in various posts ) is appreciated and is worth understanding for anyone who thinks of putting serious proportions of their savings into this stuff.

[saltyamigo]

Originally Posted by MashinBenzin

Etoro have suspended stop losses now, so should be no danger of this happening with real money. I had mine down to minimum anyway, after I had an xrp trade @0.31 closed at 65% profit by a trailing stop loss. My mistake and not a good one to make.

This happened after stop losses were suspended. There are still stop losses on copyfunds but not on individual trades.

[MashinBenzin]

Originally Posted by saltyamigo

This happened after stop losses were suspended. There are still stop losses on copyfunds but not on individual trades.

Ah right, sorry. The copy side didn't appeal to me so I didn't look into it.

[saltyamigo]

Originally Posted by skipraider

That looks really weird. No way did BTC drop to 4286.1, same goes for the others. Weird how most of them all closed at exactly the same time too.

Yep really strange, they will all have closed together as the copyfund will have closed everything once it hit the stop loss amount, I don't understand how that happened when all the funds were well above those prices.

[nordberg]

Guys - anyone recommend an alternative to Coinbase for credit card deposits?

[Zippeh]

Been using eToro now and it's nice and simple. I want to buy TRX (Tron) but don't know how to! Had a look at Binance but fuck me I can't work it out.

Any idiot guides out there?

[gr4z]

Originally Posted by Zippeh

Been using eToro now and it's nice and simple. I want to buy TRX (Tron) but don't know how to! Had a look at Binance but fuck me I can't work it out.

Any idiot guides out there?

Try this
https://medium.com/swlh/the-absolute...g-c844c9c71b9f

[Hooded]

Originally Posted by Zippeh

Been using eToro now and it's nice and simple. I want to buy TRX (Tron) but don't know how to! Had a look at Binance but fuck me I can't work it out.

Any idiot guides out there?

Step by step guide how to buy tron

https://getcrypto.info/tron/#skiptocoinexchange

Now if only my verification would go through on coinbase today

[Zippeh]

Originally Posted by Hooded

Step by step guide how to buy tron

https://getcrypto.info/tron/#skiptocoinexchange

Now if only my verification would go through on coinbase today

Thanks!

[nordberg]

Originally Posted by Hooded

Step by step guide how to buy tron

https://getcrypto.info/tron/#skiptocoinexchange

Now if only my verification would go through on coinbase today

Coinbase are fuct at the moment.

[JLR1969]

Originally Posted by MashinBenzin

Yep, the same dudes had increased my profits by 100% in the previous 24 hours though. Win some/lose some

More seriously, your note of caution (in various posts ) is appreciated and is worth understanding for anyone who thinks of putting serious proportions of their savings into this stuff.

You cant bank a paper profit

[bimmer456]

Until you convert back to Fiat you can lose everything. Cash out from time to time before it drops, but the odds are mostly in your favor just use common sense. Certainly the chance of a windfall is better than playing the lottery or Vegas.

[MashinBenzin]

Originally Posted by JLR1969

You cant bank a paper profit

Erm, you bank it to turn it from paper to reality. Have done it several times with cryptos.

[MashinBenzin]

Originally Posted by bimmer456

Until you convert back to Fiat you can lose everything. Cash out from time to time before it drops, but the odds are mostly in your favor just use common sense. Certainly the chance of a windfall is better than playing the lottery or Vegas.

Very true.

I've lost a lot more through the value drop of sterling than I could ever have lost in this venture though. So even fiat has unavoidable risks.

[225]

Ok so getting hang of this sort of.
rxp has dropped as coin base stated they won't be trading it soon. Looks like a good time to buy more again soon as sold one lot for a very small profit.

How low do we think rxp will drop again?

[Zippeh]

Originally Posted by 225

Ok so getting hang of this sort of.
rxp has dropped as coin base stated they won't be trading it soon. Looks like a good time to buy more again soon as sold one lot for a very small profit.

How low do we think rxp will drop again?

Originally Posted by 225

Ok so getting hang of this sort of.
rxp has dropped as coin base stated they won't be trading it soon. Looks like a good time to buy more again soon as sold one lot for a very small profit.

How low do we think rxp will drop again?

Depends if the rumours of being on Coinbase were the only cause of the increase today. I sold a chunk that i bought yesterday at a profit and holding out for a further drop or some other crypto to take my eye.

[ajfoggy]

Look at ETP today!! Doubled!

Not going in now though, can't believe it will hold there.