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Turning 50$ into 200 with Cyptocurrency Arbitrage
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2020-11-17 at 9:34 AM UTC
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2020-11-17 at 10:05 AM UTC
Originally posted by jonathan_davis_on_tweak_its_1994 it doesnt matter which is being traded more, the only thing that matters in this context is that you are sometimes able to sell a coin for different currencies, some which may give you more value than others.
How do you determine when to do this? Is there an app which monitors this?
For instance I use the app coing for finding arbitrage opportunities . -
2020-11-17 at 10:12 AM UTC
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2020-11-17 at 11:10 AM UTC
Originally posted by jonathan_davis_on_tweak_its_1994 it doesnt matter which is being traded more, the only thing that matters in this context is that you are sometimes able to sell a coin for different currencies, some which may give you more value than others.
i wouldn't necessarily sell at resistance, it depends on the situation though. the best time to sell is when the price is going up exponentially, as this kind of growth is not sustainable and its likely to go down, if even just to collect its thoughts for a minute before spiking even higher. it really depends on the situation though.
and i definitely would not short. especially right now. if the price of something goes up it can spiral out of control pretty quick. and a lot of coins are making all time highs right now.
so sell when it breaks resistance? You said you buy when it gets close to support. So likewise you would sell when the price is high. Resistance. Can you tell me where I am wrong?
And I look forward to your post on bitcoin. I think you have some good points. -
2020-11-17 at 1:43 PM UTC
Originally posted by CutterLegendaryNinja so sell when it breaks resistance? You said you buy when it gets close to support. So likewise you would sell when the price is high. Resistance. Can you tell me where I am wrong?
And I look forward to your post on bitcoin. I think you have some good points.
i mean you could sell where there is resistance but ideally you would want to sell for as high as you possibly could. and a lot of the times if you watch the price it will try to break the resistance at least a few times before it actually breaks through. also, since most cryptocurrencies these days are pretty close to all time highs, there may not necessarily be any resistance to look for. -
2020-11-17 at 2 PM UTC
Originally posted by jonathan_davis_on_tweak_its_1994 i mean you could sell where there is resistance but ideally you would want to sell for as high as you possibly could. and a lot of the times if you watch the price it will try to break the resistance at least a few times before it actually breaks through. also, since most cryptocurrencies these days are pretty close to all time highs, there may not necessarily be any resistance to look for.
so your saying usually its ok for selling the resistance but not now seeing as everything is at its all time high -
2020-11-17 at 2:18 PM UTC
Originally posted by CutterLegendaryNinja so your saying usually its ok for selling the resistance but not now seeing as everything is at its all time high
lol its ok at any time. it's just preferable for most to sell at whatever they think the top is, because it sucks selling at resistance and then watching the price go up as you realize you just missed out on like $700 for no reason or something.
SPEAKING OF, IM FUCKING PISSED OFF I HAD A X10 ON BTC/USDT FOR LIKE A FUCKING WEEK AND THE PRICE JUST KEPT HOVERING AROUND 16-16.5K.
i had like $1200 of collateral in there and eventually just got super irritated with it last night and just said fuck it and closed it out to more or less break even (might have made some profit, might have lost some, i didnt do any math or anything but either way it would have been really close to the prices i bought in at.
LITERALLY LIKE 5-10 MINUTES AFTER I CLOSE IT OUT BTC STARTED ITS RUN UP TO 17K. like if i would have left that money in there i would have made like $1600 lol. shit sucks. luckily i am in the process of cashing out hella eth -
2020-11-17 at 2:45 PM UTC
Originally posted by jonathan_davis_on_tweak_its_1994 lol its ok at any time. it's just preferable for most to sell at whatever they think the top is, because it sucks selling at resistance and then watching the price go up as you realize you just missed out on like $700 for no reason or something.
SPEAKING OF, IM FUCKING PISSED OFF I HAD A X10 ON BTC/USDT FOR LIKE A FUCKING WEEK AND THE PRICE JUST KEPT HOVERING AROUND 16-16.5K.
i had like $1200 of collateral in there and eventually just got super irritated with it last night and just said fuck it and closed it out to more or less break even (might have made some profit, might have lost some, i didnt do any math or anything but either way it would have been really close to the prices i bought in at.
LITERALLY LIKE 5-10 MINUTES AFTER I CLOSE IT OUT BTC STARTED ITS RUN UP TO 17K. like if i would have left that money in there i would have made like $1600 lol. shit sucks. luckily i am in the process of cashing out hella eth
yea sounds like you just got impatient and just accident. a week is waay to long to be holding a trade for anyway. my mentor says 3 minutes in and out.
What do you think of the bitcoin arbitrage? -
2020-11-17 at 10:39 PM UTCI remember reading about some kid that killed himself because he messed up trading crypo and owed like $200k or something.
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2020-11-17 at 11:46 PM UTCedited for privacy
