So I got into this whole crypto futures thing with around $4000, and I've been doing it for about three months.
So far I've lost almost everything and I'm down to around $25 that's on an XRP short. I used pretty much every indicator (including non-numerical indicators) and I still lost money.
This was an experiment to see if this would be viable as a potential avenue for investment and all I've learned from these three months is that this whole space is set up like a casino. The house always wins. With the amount of blatant manipulation that happens, it's never really anything beyond gambling, regardless of how good one might think they are at TA.
The corrupt exchanges contribute to most of this.
XRP has started going up after crashing yesterday and I honestly can't wait till I'm liquidated so I can get out and never come back. The amount of stress, sleepless nights doing technical analysis on something that TA does not even work on believing the same principles of trading stocks applies to this.. it's been a valuable learning experience. I lost $4000, but that's the price I had to pay to learn.
I don't even check the prices any more and I've pretty much left it. I haven't felt better since I got into this shit. Relieved almost that it's over with...
I'm not even going to read your entire post. I'm just going to call you an idiot.
Blake Cooper
fpbp
Julian Diaz
lol how do you lose 4k in 3 months
what is risk managment?
Josiah Evans
Trading works only if you're an insider, part of a pump group or can correctly measure the impact of a news item that hasn't yet hit the mainstream publications.
Luke Thompson
Pretty much what I've learned. It's about getting lucky, up until you don't.
Jayden Green
And the small percentage of machine learning experts that work in large teams for quantitative investment firms.
If you think you can beat insiders + teams of math geniuses you are a delusional retard.
William Lewis
I on the other hand bought bitcoins 2 years ago, did nothing at all except playing vidya and got 10x my money.
Only greedy deluded dunning kruger effekt gamblers and wannabe experts lose money in this market. Its people who can't tell fiction from thruth and memelines from reality. You probably also believe in horoscopes and some religion you fucking imbecile
Hunter Phillips
I lost just over $1m. No LARP. You just need to learn and move on.
Alexander White
Holding seems like the best option. Trading on the other hand is doomed to failure.
Jack Lopez
>$25 that's on an XRP short keep it open the market will crash
Luis Campbell
Well, you seem like someone who can afford to lose $1 million, $4000 is a pretty decent chunk of money to me.
What's ironic is that none of the NPCs actually fall for this shit. Everyone I know who'd be considered an NPC believes this entire space is a giant scam and stay away.
Kevin Torres
Logically, what you're saying makes perfect sense. It's still open and I've pretty much left it, but in this market, I wouldn't be surprised if it ends up pumping to 20k tomorrow for no real reason hahaha
Mason Long
You’re bad at risk management. Don’t feel bad a lot of people are, but realize that there ARE people that do this for a living that have the correct brain and mentality for it.
You don’t have it, or maybe you’ll just give up now and call it a scam like other losers. Idk OP good luck in the future.
Kayden Diaz
Nah there definitely are people who can make money off this, just not my cup of tea.
I prefer buying good stocks and reinvesting dividends.
In my eyes, it's a scam in the sense that it really isn't much different from a casino, but that doesn't necessarily mean there aren't good gamblers out there who make consistent gains.
Thanks for the wishes, and good luck to you too, user.
Adrian Gonzalez
Fpbp
Andrew Hernandez
the house is rigged OR you're just a moron.
Nah, it's rigged...
Ryan Edwards
Difficulty Level to make money: 1) Bullmarket HODL 2) Large Swings to Margin Trade like early this year 3) Sideways Bullshit + Bart Action Cancer
Kevin Hall
bitmex is a real life nigger scam, it has nothing to do with the power of cryptocurrency. Crypto is great if you get an actual cryptoCURRENCY with a fixed supply and hold it. bitmex and all the leveraged derivitives is just niggers
Connor Lopez
Pumps out of nowhere with no real demand, dumps out of nowhere for coins that supposedly have great fundamentals and potential, printing fake money to manipulate prices, etc etc.
This isn't a normal market. Nor a healthy one at that.
Jose Cox
Agreed. I have nothing against cryptocurrencies and I think it's one of the coolest things we've seen in our lifetimes, the leveraged trading however, is literally a scam.
Hell I even use crypto pretty frequently for payments and I'm a relatively early adopter (2013-ish).
John Ward
Fpbp
Juan Barnes
im saying this because the market will crash... good luck... long 25x btc at 5800 after you close your short... godspeed user
Samuel Lopez
>buys crypto >loses money
What did you expect?
The entire thing is a self perpetuating ponzi for retarded millennials looking for a shortcut to getting more real money (fiat) without having to work. Crypto doesn't produce anything of value, and nobody uses it for anything except as a collectable token to hype other people into buying it for a higher amount by advertising your previous gains on it.
Thank you, my friend. Will do. Either I profit or get liquidated so it's a win win situation at this point haha. Best of luck to you too!
Crypto definitely has it's use cases. Incredibly fast cross border payments for very cheap, the relative anonymity compared to paying with a bank card, etc. etc. but I definitely agree with you that there are people who are exploiting the greater fool theory to con people out of their money to make themselves richer.
Nathaniel Walker
>losing 99.375% during the greatest bull market in history maximal kex
