Why I Sold All My LTC Just Now :(


#101

and then get a real job?

I love following your levels. It’s like you provide EXACT turning points.

Stop following this so close!!! You bought it at 15. If you did not look at the screen day to day, you would have doubled. But you can’t do that. I am talking to the wall. Apologies to all the walls in my house.


#102

@EckhartJV I just had to create an account just to comment. Aren’t you getting tired of being wrong on every sell occasion? I started reading this post from the beginning and you have panicked on every negative price fluctuation and sold sooner then you should have. You had several opportunities where people who have more experience then you have recommended holding over selling yet you still sell based on panic from minor drops. Im definitely not a seasoned trader, but I have been in crypto long enough to know that you don’t spend what you aren’t willing to lose.

Crypto is a long term investment and if you dont believe in it, then you shouldn’t invest in it. Your approach to it is to try to make a quick buck and no investment works that way. The only time I cash in any of my crypto-currency is when i really need the money and even then I know im selling too early - because the fact is that I truly believe and back the coins I invest in.

I have made many mistakes and at one time reacted the same way as you, but I finally got it into my thick skull that my approach was wrong. Until you realize this you will be on the losing end all the time.

Look at it this way - SegWit just activated - the buzz is dying down, but now so many more companies are developing and shifting technologies and resources toward Litecoin. You may experience a lull in price, but with all the focus on development eventually some additional news will bump the price up again. Bitcoin and Litecoin go hand-in-hand and have been here since the beginning.

I’m happy to see you are holding on, but if you sell at a loss again, Im sorry to say my friend, you will be kicking yourself later as time-and-time again you have done throughout this thread.

P.S. Im also trying to figure out if your post is for real or if you are trying to get attention. It’s just too comical. Either that or you are a child playing in a grown up’s world.


#103

How long have you been in crypto trading?

Did you see LTC’S PRICE?!?! IT WENT FROM 38 TO NOW 26’sih! THIS IS RIDICULOUS. If you just created an account, chances are you haven’t invested in LTC and are just reading for fun and thought you’d side with the majority.

THIS PRICE IS NOT NORMAL.

I looked at the tech analysis geometry and they all have warning flags for selling because the candelsticks and resistance are all wrong!

I will sell if it hits 25 because that’s the exit point


#104

I have been on and off trading for 5 years now. I dont consider myself in any way an expert. In fact Im still a newb, but I have definitely learned not to panic. Since you look at post count to determine experience, listen to those people who reply to you who have been here for a while.

I have held onto LTC since i mined my first few in 2015. I also bought some at $5 and recently like you bought in at $15 dollars when all the SegWit news started. Unlike you I held and sold about half of what I bought at $35 dollars to invest in some LTC mining equipment from Bitmain.

I bought 3 miners ~1300 USD which will ROI in the next month and some cloud mining at ~1800 USD which I re-sold enough hash power on the market to recoup my entire initial investment yet still was able to keep more then half of the hashrate (essentially i am cloud mining for free)

All that because I believe in LTC and where it is going. Anything I mine now I will hold and wait for the price to again increase because I am confident it will and because now its free money - and if something goes wrong, Im willing to lose it.

Obviously you dont actually believe in the technology so I dont know what advice to give you except wish you luck on your endeavor.


#105

no offense, but I think you were just lucky with those LTC trades. . .

your advice isn’t so great if you bought miners from Bitmain, who is the center of the segwit problem. They’re going down because of their "special chips that are incompatible with segwit.

Idk y u would buy bitmain miners -_-


#106

The market price action interpretation is a reflection of your personality. In essence, you are not the normal one.
The amount of money you are playing with versus the noise you are making is pathetic!
I am just sad to see you that you would discourage ordinary people from what could be a sound investment for them.
---- off already.


#107

u kno. I seldom respond to your replies because they’re very unintelligent and don’t add anything to the thread. It’s all just anger and hate – and that’s all a reflection of your inner struggles with, I guess, LTC. The difference between me and you is I outwardly project my frustrations with the coin, whereas u absorb them and then redirect your anger at others to strengthen your shaky beliefs about litecoin.

and u act like some spoiled rich kid laughing at $2,000 saying it’s a pathetic amount. lol. From your attitude I can tell you’re not some educated dude with a 100k salary throwing 20+k into crypto. U probably borrowed money from ur parents and think ur cool.


#108

why do you post every time the price drops a few cents? join a chat room please I am tired of getting notifications about your noobness…if you don’t like how the price goes up and down go buy some Tether…its 1:1 with the US dollar and then we can all stop seeing your inexperience in the form of comments

this is trading…NOT A BANK we are not FDIC insuring your Litecoin or any crypto for that matter will be worth anything…its only worth what someone is willing to pay for it…WHY HAVE YOU NOT GOTTEN THIS BY NOW?

the majic of cryptography is when cryptocurrency offers…do more research before you go blindly buying stuff then complaining about it because you did’nt research it ahead of time…why would you not watch a chart for at least a week before buying something? Please stop blaming others for your own problems


#109

how long have you been trading? a week? you seen bitcoin it went form 2000 down to 1600 and then back again all in one day…why is that ridiculous…it gave people a chance to make money…your just pissed off because you missed out on the pump…complaining about a $5 price drop is just plain stupid…your suppose to short sell and buy back when it lower…but I guess you claim to already have known that…


#110

A few cents? It went from 38 to 26! now it’s 28 so I guess it might go up


#111

yes its going up…look at all US Dollar charts for all coins on BTC-e.com …they are all doing the exact same thing right now…only way to make any money with crypto today is trading between cryptos not dollars…if your holding litecoin it is going up with bitcoin and dash and ether…every charts look exactly the same


#112

it was at 38 for about 10 minutes 2 days ago…so basically one guy paid too much…ill say what I learned not too long ago “Learn to trade and stop watching 1 minute charts”…if you cant afford to take a loss with the possibility of gaining then don’t gamble on volatility…


#113

Thanks, FREUD!

  1. I have ZERO frustrations with LTC. It does not owe me. It does not owe me a profit. You, on the other hand, think that because of your “sophisticated” analysis it needs to generate a profit for you, and not only a profit but the exact minute you get it.
  2. I am a trader with MANY years of experience and self-made. Never received a dime from anyone.
  3. You are right. I am pissed at you! Your posts state it perfectly “I outwardly project my frustrations.” You made a legitimate cryptocurrency turned into some garbage because you are a self-entitled prick who thinks the market owes him. NOTHING in your analysis relates to LTC.

Enjoy being glued to the screen this entire weekend.

Last note: If you came here like a reasonable person asked about market behavior, and why it went down, or why SegWit does not have an immediate effect. etc. you might have received intelligent answers that would have helped you psychologically through this journey. Also, there some technical like rotations, profit taking, “buy the rumor, sell the news” and elements that would help you grow your account. This was MY approach when I started. You, on the other hand, trying to force opinions that have zero validity in real life. Your approach and attitude are poor. Open your mind to those who have more experience than you.


#114

There is some good lessons to learn from this. If you follow the pack (buying when you are promissed quick, easy reward, and selling when it becomes scarry), you are shure to be with the loosers every time. I’ve learned by doing those mistakes myself. Anybody who tells you that LTC (or any other coin or stock) will certainly go up or down is an idiot and/or is lying. Someone who could seriously do this would be a bilionaire and would not spend time posting predictions on forums and buying a handful of LTC in the hope of making a few $ profit. And if the prediction is based on “serious research”, it is just serious bullshit. NOBODY can tell you where LTC (or any other coin or stock) will be in the future. Nobody foresaw any of the big financial crisis of the last decades (or perhaps a few marginal people that nobody would listen to anyway). It can go up, down, or even disappear. So it’s up to you to understand what you you are investing in to and why, and to stick to it without following what you read on forums or in the media. I bought my LTC in 2014 at 4$, now it is at 27. Unfortunately I did not buy for 1 million $ - because I do not have them, so I’m still posting on forums :slight_smile: I never look at the prices or predictions. Despite a 700% profit to this day, I’m not selling because I believe this is just a beginning. I say I BELIEVE, because I don’t KNOW - nobody knows: perhaps next week it will be worth 0, if this happens I wil not be caught by surprise or angry. There is no investment without risk. So one should never risk a too important amount. To decide how much we can invest, the right attitude is to consider that this money will be lost forever, because it may happen this way!


#115

u are right, but financial crises are u know. . . one-off events that don’t happen very week/month/year. So that’s like an outlier.

I think you’re a little pessimistic about “fortune telling” though. There are some obvious things that are just obvious. LTC was one of them, I guess. I sold too soon didn’t know it would hit $35.

BTC is another certain positive. I mean like it can’t fail. Countries are adopting it. There are Bitcoin missionaries in Africa going around brainwashing people to use it.

They even have BTC ATMs.

Same for Ethereum, which I’m stuck in.

but LTC wasn’t so certain because some people say it is a joke (on poloniex) and that it has no future. They say LTC is just BTC’s experiment. I found that to be somewhat true when segwit locked in and the price didn’t go up. Then the price went up.


#116

“… Bitcoin missionaries in Africa…”

This guy cracks me up! :joy:


#117

You went through severe anxiety trading LTC. If you trade BTC, you will experience something way more severe. Play small amounts until you get comfortable. Then increase. slowly.


#118

Okay. . . Despite every coin going up except for ltc, I decided to take the plunge with all of you die hard satoshilite fans.

I sold my eth for 96 (ik, I have a weak hand. Eth rose to 200), which is part of the reason why I’m sticking with ltc.

I took out a student loan and just bought 330 Ltc at 26.

Now I’m in it with all of you. We either hit it or all burn together, like Rome.


#119

Why a loan? You should never trade with loan money.
Trade with what you can afford to lose.


#120

Either go big or leave! (also, because everyone was so confident, i’m just going to bet on that :D)