I haven't done much trading over the past couple of years because I lost a good amount of my savings by trying to make life-changing money on trading the LUNA crash, and that situation kind of made me realize that long-term investing in projects that "can't go wrong" pays off in the long run better than day trading.
We're out of the bear market "officially," and all sorts of shitcoins are starting to pop up here and there. Who would have thought FTT, SOL, or even ORDI would make traders so much money? I was late to the party with SOL, although I had my eyes on it for a while. I saw someone on Twitter today saying it is going to $100+ in the near future, but I find that hard to believe after nailing a 3X in less than a month.
Saturday evening while I was at dinner at Johnny's guesthouse, the man whom I dedicated a whole post detailing a bit of his crypto experience, I found out about a "new performer," ORDI. I guess it was @ifarmgirl who wrote a post about the project, so if you're interested in more details, go to her account and search for that post.
All I know is that this shitcoin, ORDI, is a BRC-20 token that does nothing for the world, has no CEO, has a total supply of 21 million tokens, all of them minted in 15 minutes, and all of them in circulation. A total shitcoin, if you ask me, but a good weekend trade for me.
I only played with something like maximum $30 on low time frames with leverages between 10x to 15x and somehow managed to make something like a bit over $100 trading it. Pretty nice for some weekend fun. However, leverage trading looks to be quite addictive, in my opinion, and before putting my money on something else aside from my long on DOGE and EGLD, I will probably have to think twice.
I don't have a TA education, thus all I did in trading ORDI was to somehow bet on its moves between moving averages and managed to nail a few good trades. So, what I learned in 24 hours of leverage trading ORDI?
Well, first things first: leverage trading is something like "snap and go." If you've done something like 25%+ with your position, you should probably close the position, especially when playing with 10X+ leverage, because the wind can turn against you in a second.
You don't have to be emotional. Trading shitcoins means that I do not necessarily believe in their projects. I'm there only for a quick buck, so if I see no potential in a coin, I will not bet on it, no matter how fundamentals-backed it is. I picked ORDI because of the volatility on the short time frames; I won't probably touch it any time soon.
We are in a bull market, and everything looks to be heading up; it's natural to be this way after close to two years of bear market, but when trading, you have to follow the short term trend and not the overall high time frame direction. I've played my game with ORDI on both LONG and SHORT positions. I got liquidated a couple of times, I close my positions at a small loss and opened a new position on the opposite direction and I have had some good trades too.
You don't have to be greedy, unless you're in it for the long term. Playing with low time frames means that whatever goes above 20% in PNL does not have to be ignored and wasted. Just leave emotions away and pull the trigger.
Leverage trading can be addictive because it is "easy money," thus one needs to be highly cautious about the urge to always be in a position. You don't have to... Just be there when the volatility is, follow the trend, don't be greedy or emotional, and stay true to yourself. The trend is up, and there will be plenty of opportunities in the couple of years to come to make good money with longing and shorting all sorts of shitcoins.
Long term investing kicks ass compared to leverage trading, but occasionally getting on a long or short position can make you some nice pocket money. I've only put in my Binance futures account an amount that I was comfortable losing. I don't want to repeat the experience I had with LUNA...
Thanks for your attention,
Adrian
dont underestimate the crypto market. I´ve seen crazy shit since 2017. 100$+ is easy doable for sol until end of year. not saying its going to happen.
leverage trading is like cocaine...its crazy. Just out of boredom and fun I started with 30$ that I had left on kucoin two weeks ago and made 1000$ with maybe 10 trades. I try to stay away from it with big money
edit: long on doge as well..at some point it has to go parabolic
That's great. I agree with you on Solana, crazy shit happening during bull markets... It's what I've been waiting for.
Yes man, it finally pays to be patient. We were all waiting so long for this. I still got some heavy underwater bags as well but even they will make profits next year...I hope so :)
That’s a nice profit for not being greedy. We make emotional decisions when we get greedy too much and I think it’s something that affects almost everyone and only the few who are able to conquer their greed are the ones who come out of trades successfully and have a good success rate.
For me I don’t fancy shit coins but if it’s for making short term bets I could give it a try just like you said. I think the best strategy is to bet on promising projects in the long term than chasing highs and lows here and there which really just feels like wasting resources and energy that could’ve been used to invest into real life changing assets. Nice return for the weekend ser.
Shitcoins can make you shit loads of money during a bull market if you play your game right.
Hmm, I thought that was in the past but I thought wrong I guess, or maybe it because we now have many shitcoin today that we don’t know which one to have a go at. I remember when it was only Dog face.
Doge still has potential.
Yeah, sure. It’s not even in the shitcoin category the way I see it. Got it’s own utility so that leaves shib and co….
experience is vital
Word.
Trading requires one have every knowledge about TA and FA with this one will be on a fair advantage. Dispite with all this knowledge something one still get their hands burt
Nice one Ace. I made some profit on ORDI too, though sold too early and just watched the pump in amazement.
Profit 📈 is profit...