Trading Disaster

Today what happened with crypto is beyond manipulated.


Imagine you play a poker and the deck is rigged (bitmex, bitfinex, big exchanges except Binance afaik), the players have aces up their sleeves (small groups of whales still control 90% of the coins), and if everything fails, you play at their territory and they can change the rules of the game mid way.

This move today was not forseen, but crying over spilled milk makes no sense, and if we don't learn something from it it becomes an expensive lesson that WILL repeat.

First, what we did right:

We used stops, so we didn't get liquidated.

We respected stops, so we didn't fomo.

We didn't re-enter positions on fomo.

What we did wrong? I really don't know.

This was impossible to predict, these are the only signs I notice that might help in the future:

1) we stayed for longer time frame at the lowest wick expected territory 6212-6200 - for more than 3 hours.

2) longs were big on bitfinex

If we stretch it:

3) BCH is designed to be competitor of BTC, the biggest moves are happening now and mining wars are going on... btc got reduced hash rate and that could give us a red flag, but even in the most stretched scenario - it doesn't make it no trade zone - the btc, as it's still the king.

So we must understand, sometimes we do everything good, but we just accepted this game.

The whole crypto game depends on our belief in bitcoin. The value of bitcoin is highly manipulated. It makes it highly rewarding, but also it makes it highly risky at the same time. I am bullish on bitcoin, I can't fucking imagine that on 9th of December, and 10th and 11th we won't be seeing big fat green candles...

However, what's the right moment for entry... unfortunately, at leveraged position I can't tell you. For non leveraged it is - just hold.


What if you hold alts? 

My highest recommendation is NOT to sell any now. With presupposition of Bitcoin being bullish and perspective asset, selling now might mean we sold too low.

What is my hunch what happened?

A group of fat btc wallets are preparing the territory for the institutional investments. Whether it's their grey off-the-books money, these dumps are made by these wallets losing money with market selling through the walls... so they did it for a reason. And liquidity wasn't the main one, as liquidity was fully reached at 6200... I think it prepared the entry for someone to enter with bigger chunk and de-motivating retail (us) investors to be willing to sell btc.

Lower price is not important here, it's taking away people's hope, and reason for holding.

So let's show them we won't give up hope. Yes, it's early days of bitcoin, but it survived ten harder years than this one... we are holding, and let them sweat to get it if they want it.

With you in dips and pumps!


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2 years ago ago
Always happy to see your posts even during this fucking dip time.
2 years ago ago
We are here to Stay! Thanks for hope as always
2 years ago ago
I am really cunfused and depressed right now... I think i am gonna cry...
Jerry Main
2 years ago ago

Well Mr.D once again respect for you and your team. Thanks for all those alts you pointed in bear times!!!

Anyway - let's be earnest. You can't have trust in something that is in "small group of whales still control 90% of the coin" You know when 90% of something could be easily organized to be manipulated how could you think of it as "the future of payment." Is that the way we deal with the banks? Manipulating like them :) To me crypto is more like a poker than a real currency. And as I see the things - those 90% holding bitcoin are not the cool guys. Don't get me wrong I made some money from bear too with $0 investment (risk free) but pumping and dumping/..selling the news etc is not the correct way for the world to go. We need more stable things not 1BTC at $50k waiting to be $10k in summer. 


D Man
2 years ago ago
I agree with you... it's fucking hard to trade in such environment... that's why with more people coming into crypto it will be harder for them to do.
2 years ago ago
They wont get my coins. HODLE IT, BCW!
2 years ago ago
Heinous moves in the market today.    I was able to swing trade BCH most of the way down, and put the profits in LTC.    Not complaining.   From here, Hodl'ing all assets.    I hope BCH doesn't go to -0-,  multiple sources think it might.    Arrggh. 
Hanging in there with you, Dman.    They aren't getting my BTC. 
2 years ago ago

Hey guys

Stop whine like a little girls. You are writing all the time about hookers, fun, your ego, and now you are coming w phrases like "boo hooo, crypto being manipulated" etc... Wtf? Are you here 1st day? Also are you surprised, once everybody knows your sl/tp, so some clever whale can abuse it?

2 years ago ago
I am curious,  if they were still have a control on almost of 90 pct of the coin,  why did they dump the market,  are they trying to kill them selves aka doing suicide? ? 
2 years ago ago
I think that this still baby market with hight manipution and we need understand it. I put the emotions aside and I believe in "D" says: "...Yes, it's early days of bitcoin, but it survived ten harder year than this one...we are holding, and let them sweat get if it they want it."