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How today's FOMO went for most longers!
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Looking for a coin to GAMBLE on, I suggest TINC (Tiny Coin). It's the main token of the popular play-to-earn game TinyWorlds.io that recently ran into some trouble with it's devs and dumped around 80%. For a more detailed explanation check out the post linked below but the TLDR is that the devs moved around 700k$ worth of tokens out of the DAO wallet to another wallet and went silent. The main rumor is that they got arrested by the Chinese government because crypto is somewhat illegal in China atm. Since then there hasn't been any news aside from the rumor that the devs allegedly hired 2 lawyers to fight their case and that according to Chinese law "a detention investigation can take up to 37 days before a decision is made as to whether the person has violated the law" and the 37 days are set to expire around the end of this month. So the play is to buy now and hope the devs return, if they return the price is very likely to pump a few x, if not it will probably slowly bleed to 0. THIS IS NOT INVESTMENT ADVICE, THIS PLAY IS 100% GAMBLING! Reasons I think it's a rug pull: 1. This is crypto and if the devs move the DAO funds and go silent, 99.99% of the time it means it's a rug pull. Reasons I DON'T think it's a rug pull: 1. Until recently, for around 2 years, the development was very active, not just empty promises like most rug pull projects are. The devs were constanlty releasing new features, improving existing ones and fixing bugs. 2. They didn't dump the TINC, they moved wrapped BTC, BNB, EHT, USDC, USDT tokens but not the TINC from the DAO wallet and they could have made a few more 100ks$ if they dumped the TINC as well. 3. If they were planning to rug they would have done it sooner when TINC was signifincally more expensive, around the launch of the game, and could have made away with a few million $ not just a few 100ks$. 4. The funds that were moved from the DAO wallet haven't been spent yet, they are still sitting in the new wallet. #crypto #cryptocurrency #crypto2023
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Three things that usually don't work when trading crypto: 1. Chasing pumps. If it's already pumping you've probably already missed it. Look for another trade. Chasing big greed d*ldos usually ends with a big greed d*ldo in your ass. 2. Buying bottoms/selling tops. This is a fools game and most of the time you will get it wrong. The best strategy for buying imo is Dollar Costa Averaging. Wait for the volatility and hype around the coin you are looking to buy to die down and the price to drop some and then start buying small amounts as it continues to dump. Then slowly scale out in small portions when it starts to pump again and you are in profit. 3. Endlessly feeding losing leveraged positions. Use stop-losses and stick to them, don't continue feeding more money into your losing position. Most of the time, in my experience, you'll still end up getting liquidated. The goal is to be profitable in the long term, not to win every single trade. Even the best traders don't make profitable trades every time and if someone is telling you they are, they are probably lying to you. A good trader makes profit even if they lose most of their trades and that usually comes down to proper risk management. #trading #crypto
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Yesterday, while looking around old folders on my PC, I came across a txt file named SHAME.txt that a long time ago used to be dead center on my desktop. I made it while I was learning to trade and kept making the same dumb mistakes over and over again and I was desperately trying to stop making them đI think it's funny but some of you might find some good info in there. Here are the contents: CONTROL YOUR EMOTIONS PATIENCE IS THE KEY TRUST YOUR GUT, IF IT SAYS CLOSE JUST CLOSE POSITION SIZING (DONT ALL IN) DONT TRADE OUT OF DESPERATION DONT SHORT AN UPTREND CUT YOU LOSSES DONT REVENGE TRADE JUST ACCEPT THE DAMN LOSS DONT SHORT A BULL MARKET LOOK FOR OPTIMAL ENTRIES DONT FOMO NO GREED TIGHT STOP LOSSES TAKE PROFIT DONT OVERTRADE ONCE YOUR OUT YOUR OUT DONT JUMP RIGHT BACK IN FOR A QUICK SCALP AVOID HEAVY VOLATILITY DON'T GO AGAINST THE TA WITHDRAW PROFIT OCCASIONALLY SO YOURE NEVER AT A TOTAL LOSS #trading #crypto
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Happy Friday 13th!
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How I feel after falling for a rug pull yet again đ
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