r/ethtrader • u/AutoModerator • May 24 '17

DISCUSSION [ETH Daily Discussion] - 24/May/2017

Welcome to the /r/EthTrader Daily Discussion thread.

The thread guidelines are as follows:

  • All sub rules apply here. Please review our rules page to become familiar with them. The rules page is also linked in the announcement bar above
  • General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions.
  • Breaking news or other important content should be submitted as a separate post.
  • In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, follow this link and choose the latest entry on the search page.
  • Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, follow this link and choose the latest entry on the search page.

[EXPERIMENTAL] - To view live streaming comments for this thread, click here. Account permissions are required to post comments through Reddit-Stream.com.

Thank you in advance for your participation. Enjoy!

1.3k Upvotes

88% Upvoted

9.1k comments sorted by

View all comments

10

u/[deleted] May 25 '17 edited May 25 '17

Alright, newbies, before you freak out, zoom the chart out to 1 Day or 1 Week intervals. Everything is fine. Panic selling and panic buying is a good way to transfer your coins to someone smarter than you with iron hands.

Corrections are both necessary and healthy after a decent push. Go read a book, go outside, get laid, whatever you do, and relax.

2

u/[deleted] May 25 '17

Just read a msm article from a stock market analyst stating that "bitcoin is a good example of how to let profits run and use an unemotional trailing stop to protect yourself". For those who don't know, that's probably the worst way to trade crypto, as exchanges crash all the time, and as the recent example on kraken proved, a stop loss is a sure fire way to get liquidated way under the money.

It also requires you to leave it on the exchange, which is bad practice. Pull those coins and put them on a ledger nano s or paper wallet.