Why I Sold All My LTC Just Now :(


#21

Very disappointing to have this as a first trading experience. But this definitely isn’t a setup for newbies, it’s just that you jumped in before knowing everything about this business and the trading background.
But there are still chances to benefit from it in the future!


#22

So it’s an investment, you say?

Well, that’s not true at all. Plenty of people in this thread (forum) mine LTC. They own miners. They don’t buy LTC at $4, or $15. They do generally have a higher electric bill, and pay for required hardware.

I thought you said you bought it as an investment. So, which is it!?[quote=“EckhartJV, post:8, topic:1803”]
There’s nothing to have faith in. I think prices were up before just because it was a popcorn show between Jihan and Charlie, and now the entertainment is over, and LTC’s true value is showing because segwit is a 100% truth, and now we see the real price.
[/quote]

OK, now you can hate me all you want… but I busted up laughing when I read this. Litecoin has been around for years my friend. Litecoin exchanges process millions and millions of dollars each day. That is just an indisputable fact. It’s not going anywhere.

I’m really not. I do however have a tendency to go after those who I feel are not being 100% honest and clear in their motives for posting things like you did.


#23

It’s easy to say that, but how would you know when the price goes up? All my research pointed to the price plummeting more. I mean, SegWit locked in man. Then prices dropped. It could only mean that everything was fabricated, then when the real event occurred, it was gg and the curtains were pulled.


#24

Thanks for everyone for responding. I genuinely am thankful for the earlier responses that showed sympathy and I am grateful for your care.

But everyone else who started posting right after the prices went back to 15… whatever. You couldn’t have posted before prices rose because u probably weren’t sure either. Then now that prices are at 15.50+, you can start jeering and throwing tomatoes and pretending like you knew it was going to happen :D.

Anyway, I learned from this. I see prices are back up. I have no idea why, but I think it’s mostly cuz I made this thread and whoever was manipulating the price (whales) got scared that this “PR” would make the price fall further, so they let it rise.

I’ll probably not return to LTC unless it falls to some really nice price that you can’t lose at… like $12.

I do hope LTC goes up to $75 so everyone else on this thread who didn’t sell end up with some kind of a happy ending.


#25

You think the whales care about your post, or that the recent price movement was all centered around your $3,000 investment (oh wait, not an investment, or maybe it was)!?

You’re killing me Smalls… that is the funniest ■■■■ I’ve read in weeks.

Your trade was a drop in the pan in the Litecoin universe, you have to realize that.

There is no PR here. There never was.


#26

Don’t give up, there’s still lots of room for profit in the trading business!
Use the potential (Y)


#27

litecoin was $4 for the past year and a half…maybe longer…I bought at $4, $3.30, $3.80, $9, $7, $14 and $15…if your just now buying it then you are going to have to wait till the price goes up to make a profit…and if it goes down…buy more don’t sell and take a loss…just because it goes down by a dollar doesn’t ever mean any price will crash…Ive been trading for over a year now and I have never seen a price crash like that…why would you think it would ever go back to $2? It hasn’t been $2 for years…there are too many investors for it to crash that fast…every holder would have to sell at the same time and most exchange servers cant even handle that much traffic anyway…not to mention that someone has to buy an order that someone posts up for sale in order for the price to move either way so there has to be another investor in order to sell in the first place that’s just how exchanging works…


#28

And will all know that LTC is way faster than BTC, at this point i cant say dont make the same mistake i did when i bought at @45 and sold at @35 but now i learned more i bought LTC so all i beeen doing is buying even if it goes down some i buy more now i can say it obviously


#29

Damn you’ve gotta be hating yourself right about now… try to take it in good stride I guess. This is a lesson, don’t be the weak hand.


#30

Dude you have no clue so your research is flawed. As I stated in my very first reply to you

“LTC is now recovering”

Things don’t always happen in minutes on the markets a recovery after a big sell off can take days / weeks, look where you would have been now if you hadn’t had weak hand!


#31

Okaaaay. No need to kick someone when they’re down.

I’m going to buy back into LTC when the price isn’t 15 or 14.

I heard about Auroracoin, and I’m like surprised no one who replied even considers that this could happen with LTC.

Everyone’s just starry-eyed waving the LTC banner. It’s like a religion lol.

I ended up investing in XRP and made back what I lost with LTC because in 1 hr it went up a little and then I sold.


#32

You may want to double-check the URL, but I’m pretty sure this is the LTC forum. Who knows, we just might even understand the LTC market.

Have fun with your casino gambling, don’t come back here to cry your eyes out when you lose your @$$.


#33

I have recently got into the whole crypto business. I got my hands on some cheap scrypt kit and started to learn all aspects of crypto currencies.

I had a choice to go the bitcoin route or the litecoin route and chose litecoin. My mining kit is not making a massive amount of money, but its chugging away and I am learning… and thats the point, you have to learn what you are doing before you can make a profit…

just buying ltc and expecting it to make a profit is stupid. its the same as buying any currency, get your research wrong and you are going to loose… you put your $2000 on black and it came up red… suck it up princess…

Last year, we had a very similar thing go on and it wasn’t for a piffling $2000…

we had a referendum for the nation to decide to leave the EU or not.

at around midnight, the money people whos job it is to make money buying and selling currency let it be known that they believed the result coming in was that the UK was to remain. The value of the £ rocketed to its highest level in a few years…

it was at this point, they SOLD 100’s billions worth of GBP. then as the real results came in and it was obvious that the vote was to leave, the £ tanked… it fell hard and fast… people panic sold… the price fell some more… at this point the money men BOUGHT the billions of GBP they had to cover what they had sold a few hours earlier. making billions in profit. The £ is only just recovering to its previous levels…

the point is, the money men created the rumour and made money from it. people lost lots of money… more than you lost in your quick toss of the dice. The same thing happens time and time again every day.

I am in LTC for the long term, I am currently investing in some more mining kit that will generate more profit than the interest rates the banks give. Its a gamble… if LTC is to go down, I will loose a lot of my investment, more than you lost in your spin of a coin… but I wont cry about it…, its a risk, its one that I think will pay off, one that I don’t think I will loose my investment… and that’s because I did my own research and didn’t just ante up on a whisper…


#34

You should not trade, invest or do ANYTHING speculative with your money. You MUST understand certain basics before you proceed. I am critical of your post because it is irresponsible!!! You put your experience ahead of everyone including those who way more experience and intelligent in investing.

Here are some of your current shortcomings and you better overcome them.

  1. You don’t have an opinion. You rely on Reddit to tell you what goes up and down? I would choose better sources. If you do research, stick to it!
  2. You don’t understand the market mechanism. It fluctuates as a result of many participants. It cant go your way the minute you go it.
  3. judging from your emotional response, you do not have what we call “risk capital”. This is money that you can afford to put at absolute risk to gain a larger reward.
  4. The market is an auction. It’s about VALUE and NOT price. There is nothing wrong buying the market at $4 or 16 or $50 if future VALUE is perceived to be higher.

You may be mad at me. But, like yours, this is my first post because I could not sit here and see you destroy yourself because of what you perceive as a bad investment. Get a grip on yourself and trade smaller size to withstand fluctuations.


#35

Sorry, but… if it’s your first post too. Why should you be giving advice on how to trade better than me – if you just got in yourself?

I made my losses from LTC back. So I’m not sure if I’m doing things right or wrong, but now I’ve learned to wait a little longer.

I think I did solid research? If I just bought LTC because of reading reddit, then I wouldn’t know all about Segwit, coinbase, and LN which are key times when LTC should go up. -_-


#36

I think you just have something against short-term crypto traders.

Not sure what it is, but okay bud. I’m walking away from you.


#37

I like your GBP story. I didn’t know that happened, but it’s exactly what I thought happened with LTC after segwit lock-in.

I do need to be able to better differentiate between hype and actual insights.

I’m curious, why did you decide to mine LTC instead of buying it? Surely the mining equipment cost thousands, which you could’ve just used to buy LTC if you’re sure it will go up.


#38

@EckhartJV- Never put all eggs in one basket!!!. i purchased this ltc coins in when it was 5$ i am now in a good. profit. but i m not goining to sell. Atleast i will wait for 3yrs


#39

Well I think u should not sell until coinbase, LN, and segwit activation happens. If the price doesn’t go up within 3 days, then sell all because LTC can only go downhill from there.

I did more research and it looks like eth is surpassing btc.

I’m not sure if LTC can catch up. I mean it’s like a secondary btc with not too many special things that differentiates it.

But I guess if BTC goes up, LTC will too. . . not sure tho.

I’m still waiting for LTC to go down again so I can rejoin. Here’s to $12!


#40

Only the ones that have no idea what they’re doing, but cry when they lose on a trade. Sound like anyone you might know?

A fool and his money are soon parted.

Thanks for walking away, you should do that in the literal sense for your own sake. Save a few bucks for the cab ride home. :wink: