[Daily Discussion] - Wednesday, February 10, 2021 Bitcoin Markets |
- [Daily Discussion] - Wednesday, February 10, 2021
- Day Trading is making me suicidal
- Elliott Wave Forecast: Has Bitcoin W3 to $94K Already Started?
- Bitsgap: complex web-application for productive cryptocurrency traders on Bitcoin markets
| [Daily Discussion] - Wednesday, February 10, 2021 Posted: 09 Feb 2021 09:00 PM PST Thread topics include, but are not limited to:
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| Day Trading is making me suicidal Posted: 09 Feb 2021 11:15 PM PST I cant take this anymore. I have been day trading since bitcoin was 3k. Even at current prices i dont have much to show for it. I wish someone had told me day trading was not the way to go. My depression stems from the fact that had i not started day trading i would have accumulated 300-500 hundred thousand dollars. Instead i am still sitting with 5 figures. Everytime i make a trade i inherently lose more money. However i can not stop day trading because at current prices it seems absurd to HODL. Everytime i place a trade, Literally every single time i place a trade, i lose a couple thousand dollars. Today i lost 2-3 thousand dollars. Yesterday i lost 5-6 thousand dollars. MIND YOU i am losing this money as the price of BTC goes up. Meaning i am losing more money trying to secure profits and buying back cheaper than i would have just taking the bigger risk of an open position. As i am writing this, i am watching my stop loss fill, causing me lose another 1.5k. The price often reverses as soon as my stop fills and i end up going long again only to see a continuation of bear trend. & whenever i do decide ill just wait a couple of days to let my emotions reset, the price skyrockets 10-15% causing me to re invest 15% higher than yesterdays stop loss. At this point nothing can help me, i cant go get another 100k to double down on my losses as i have already been using my life savings. I feel disgusting. I feel sad. I feel humiliated. I am my own worst enemy. As i go drown in sorrow; id like to offer advice to "you" the "reader". If anything good may come from this post may it be my depression and anger that stops you from day trading. I have lost time i could spend with my family. I have lost money i could have enjoyed. I have only gained stress. I have only gained depression. Day trading is 100% gambling & also 100% different than a long term hold position. Do not take your life savings and start day trading. I promise it will be the worst decision of your life. [link] [comments]  |
| Elliott Wave Forecast: Has Bitcoin W3 to $94K Already Started? Posted: 09 Feb 2021 05:14 PM PST According to Elliott Wave Theory's typical impulsive wave structures and lengths, it appears Bitcoin may have already completed its initial impulsive Wave 1 higher, rallying from roughly the $10,000 level up to just over $40,000 a few weeks ago. The subsequent ~30% correction which quickly followed, bringing Bitcoin down to just under $29,000 briefly, appears to have been Bitcoin's W2 correction which has already completed as of a couple days ago. So where does that leave us now? Likely at the start of Bitcoins impulsive W3 move higher. Impulsive Wave 3s are notorious for being the longest and most intense market waves in which bears turn into bulls because the trend is so strong. This is also the wave in which the greatest amount of profit is made following the trend. As you can see in the second chart here, I have plotted a rough projection of Bitcoin's long-term wave structure based on Fibonacci extension levels. If W1 consisted of Bitcoin rallying from $10,000-$42,000, then this is now the start W3; of which W3s typically measure 1.618 to 2.618 of Wave 1. So, according to those ratios, if this Bitcoin W3 is 1.618 times the length of W1, then W3 would terminate around $94,000. If Wave 3 was even longer and equal to 2.618 the size of Wave 1, then this W3 would extend all the way up to $126,000 before a significant correction. I tend to be of the opinion that Bitcoin will likely find heavy resistance around the $100,000 level, indicating a W3 top thereabouts, lining up well with a $94,000 W3 termination. Based on Pantera Capital's Dan Morehead and his $115,000 Bitcoin projection, I think this lines up fairly well with his model's price target, even if a blowoff top hits $126K (or even higher) - which frankly no one would mind one bit. [link] [comments]  |
| Bitsgap: complex web-application for productive cryptocurrency traders on Bitcoin markets Posted: 10 Feb 2021 09:39 AM PST Bitsgap allow extended trading and crypto managment operations on multiply cryptocurrency exchanges within one interface via API. About functionality:
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