The Litecoin Thread

GreeBo

EagererBeaver wrote: »

It's nothing to do with buying or selling, that's not the question. The question was whether any profit is realised through simply moving litecoin from one exchange to another. The answer is very clearly "no".

"Would I make a small profit" was that was asked.
Realized or unrealized wasnt specified.
So yes, you can make an unrealized profit by moving coins between exchanges, if you then dispose you realize that profit.
Its using the exchange spread to "almost" do currency arbitrage.
Its not true arbitrage since its not simultaneous.

EagererBeaver wrote: »

A direct analogy is if I hold 20 euro in Bank of Ireland and I move it to to AIB. I still have my 20 euro, despite the differences in exchange rates the respective banks might offer me on dollars or sterling or tulips.

No, a direct analogy would be if you move 1oz of AU from an exchange buying at €1k to another exchange buying it at €1.1K.

But even to take your own example, if there is difference in prices for any of the currencies or indeed tulips offered by both banks, then yes, you can take advantage of that to make a profit.

Look at it this way.
if you but 1 BTC for $17k and then the price drops to $100, have you lost money or not?
By your logic you havent as you still have your 1 BTC...

/anyway, Im out of this conversation. Enjoy your tulips!

GreeBo

Autochange wrote: »

This thread was better when we were excited about Litecoin.

I'd love to be excited again, but a stop loss kicked in and Im hoping to drops back down so I can buy back in and be excited again!:mad:

Wombatman

GreeBo wrote: »

I'd love to be excited again, but a stop loss kicked in and Im hoping to drops back down so I can buy back in and be excited again!:mad:

My stop loss kicked in at 246 (like to keep them a little below the walls).
Waited around for signs of an bottom out or upturn and bought back in at 250.

Stop loss now at 184 heaven forbid

GreeBo

Wombatman wrote: »

My stop loss kicked in at 246 (like to keep them a little below the walls).
Waited around for signs of an bottom out or upturn and bought back in at 250.

Stop loss now at 184 heaven forbid

Mine was at €250..I had one earlier at €210 but when we were at €300+ that seemed way too low.

Over the course of about 2 hours last night I tried to get back in as close as I could but it never came back.
Got in again at €262 so all is not lost...annoying though...its really hit a plateau for the last few hours....though maybe, long term, thats a good thing!

The One Doctor

machiavellianme wrote: »

I'm not complaining. Just warning that those walls mean very little. A 25% spike can come and go in an instant.

It can be unnerving when that happens. Stop losses need to be updated constantly, I keep meaning to use them but never get round to them. This morning I wanted to set a stop loss on ETH at 625. By the time I remembered to the price was at 627. I looked at the chart, got a funny feeling and got the hell out. Lucky me.

In reality a buy order at the low price might be better than a stop loss.

Next time I use a stop loss will be during a pump, like what happened to LTC and ETH this week.

LTC really seems to be out of its comfort zone now but that's just my opinion. Easy to make money in a bull market as someone said here.

EagererBeaver

Dropping like a stone at the minute. Some buying opportunities ahead.

fran426ft

Just dipped down to 230. I had bought a bit more at 240.50. Hopefully it doesn't keep dropping.

GreeBo

Autochange wrote: »

This thread was better when we were excited about Litecoin.

Anyone still excited?

Selling @ €300 seems like it would have been a pretty awesome idea about now

Sarah1916

I just see this dip as a chance to buy some more at a cheap price. But that is just me I think I might buy 1/2 more if it goes to 190

blindside88

GreeBo wrote: »

Anyone still excited?

Selling @ €300 seems like it would have been a pretty awesome idea about now

I sold at my initial investment amount at €285 after buying in at €142, still have the profit left in and will leave it there for the next while anyway. If the price continues to fall I may buy back in for a bit more

Wombatman

GreeBo wrote: »

Anyone still excited?

Selling @ €300 seems like it would have been a pretty awesome idea about now

Sold half at €340 and somebody called me a chicken.

Bok bok

GreeBo

Wombatman wrote: »

Sold half at €340 and somebody called me a chicken.

Bok bok

You misunderstood, I was telling you to sell them all, FOMO chicken! :cool:

Autochange

I bought my one and only coin at 70 odd euro. Considering selling and maybe getting back in if it drops back bit more.

What other coins are you guys trading?
Ripple and Iota are 2 I am hearing about recently.

Are there any good sites you guys use for your crypto currency new? Im a noob at this.

The One Doctor

Got a paltry €125 out of that bounce, although if I'd gotten that 6 weeks ago I would've punched the air in triumph. Amazing how the mind adapts.

If you're a hodler, think very carefully before continuing to hodl.

jonny_b

Really? I bought in at €49 and was gonna HODL...

The One Doctor

jonny_b wrote: »

Really? I bought in at €49 and was gonna HODL...

Well, LTC was at €300. Now it's €240. The creator of Litecoin thinks it will hit $4 again. Do you take your certain 489% profit now or...

If you're a hodler you need an exit strategy.

Hammer Archer

The One Doctor wrote: »

Well, LTC was at €300. Now it's €240. The creator of Litecoin thinks it will hit $4 again. Do you take your certain 489% profit now or...

If you're a hodler you need an exit strategy.

Where did he say that? Saw him mention the previous fall where it went fromaround $50 down to $4 while advising people not to buy if they couldn't handle it dropping back to $20.

As long as you've only invested what you can afford, I don't see the problem with hodling. I will and if it does go belly up, then fcuk it. It's not gonna break me.

GreeBo

The One Doctor wrote: »

Well, LTC was at €300. Now it's €240. The creator of Litecoin thinks it will hit $4 again. Do you take your certain 489% profit now or...

If you're a hodler you need an exit strategy.

If you are going to FUD, at least quote correctly!

He thinks it could hit $20.

Charlie Lee wrote:

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy!

The One Doctor

Hammer Archer wrote: »

Where did he say that? Saw him mention the previous fall where it went fromaround $50 down to $4 while advising people not to buy if they couldn't handle it dropping back to $20.

As long as you've only invested what you can afford, I don't see the problem with hodling. I will and if it does go belly up, then fcuk it. It's not gonna break me.

Apologies, I misremembered the tweet.

Nevertheless, a drop from €300 to €30 is epic, and I'll be delighted if it happens (more LTC for me to trade) but it would be a prudent move to decide your exit strategy now.

The One Doctor

I'm not FUDing. I like Litecoin, but not having an defined exit strategy is insane.

Hammer Archer

The One Doctor wrote: »

Apologies, I misremembered the tweet.

Nevertheless, a drop from €300 to €30 is epic, and I'll be delighted if it happens (more LTC for me to trade) but it would be a prudent move to decide your exit strategy now.

True, and anyone who invested in this if they couldn't handle that sort of drop is, quite frankly, an idiot. If that does happen, I'll probably still hold on and see what happens in the long term. Again, losing the amount I put in is obviously going to be annoying, but it won't bankrupt me or anything.

The One Doctor

Hammer Archer wrote: »

Again, losing the amount I put in is obviously going to be annoying, but it won't bankrupt me or anything.

Yes, but losing almost the entire amount you have now is going to really goddamn annoying. Unless of course you just bought a few coins, say two or three.

Bottom line: Consider your HODLing strategy and have an exit criteria. For instance, my criteria consists of two options: Buy and get out with at least 2.5% profit (usually I get 10%+) or break even. However, for HODLers, break even is fecking terrible. So think of a percentage you'd be happy to get out with and stick to that.

EagererBeaver

GreeBo wrote: »

The One Doctor wrote: »

Well, LTC was at €300. Now it's €240. The creator of Litecoin thinks it will hit $4 again. Do you take your certain 489% profit now or...

If you're a hodler you need an exit strategy.

If you are going to FUD, at least quote correctly!

He thinks it could hit $20.

Charlie Lee wrote:

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy!

And he thinks $20 is highly unlikely. He was simply passing comment on the wild speculation going on and advising people to invest carefully. This earned him the scorn of morons on Twitter who believe his job is to pump the price as much as possible.

The One Doctor

pro_gnostic_8 wrote: »

Day-trading in a bull market makes it seem like day-trading is child's play. Easy money, etc.
Just be very careful and be prepared when the market turns.

Day trading in a bear market means that the time scales change from hours/days to minutes. Things drop, it's the bounce you make the profit from, like today's LTC drop. Although frankly I was too scared to stay in for more than a few minutes.

pro_gnostic_8

The One Doctor wrote: »

Day trading in a bear market means that the time scales change from hours/days to minutes. Things drop, it's the bounce you make the profit from,

Except that it is not a given that a Bounce always follows a Drop !

august12

A question for the more experienced people trading in crypto, do ye think Litecoin will rally to over 300 in the near future? Have held my nerve and not sold even though I am slightly at a loss now.

The One Doctor

august12 wrote: »

A question for the more experienced people trading in crypto, do ye think Litecoin will rally to over 300 in the near future? Have held my nerve and not sold even though I am slightly at a loss now.

Maybe, it's really hard to say. LTC has displayed this behaviour before and recovered very well. But no-one really knows.

The One Doctor

pro_gnostic_8 wrote: »

Except that it is not a given that a Bounce always follows a Drop !

A bounce always happens unless there's very bad news (coin delisted etc). The bounce could be smallish, but it'll still bounce.

august12

The One Doctor wrote:

Maybe, it's really hard to say. LTC has displayed this behaviour before and recovered very well. But no-one really knows.

That's some bit encouraging, I know many people state, only invest what you are willing to lose, but like the majority of people, I would prefer not to lose anything and hope to gain.

pro_gnostic_8

The One Doctor wrote: »

A bounce always happens unless there's very bad news (coin delisted etc).

WHAAATTTTT ???
That'll be the rock you'll perish on, as my ould wan liked to say.
I don't mean to sound offensive, honestly , but maybe you've only been in crypto during a bull market. I've seen many many instances of coins that went into a death-dive and never recovered their earlier price.

gavkm27

The One Doctor wrote: »

Apologies, I misremembered the tweet.

Nevertheless, a drop from €300 to €30 is epic, and I'll be delighted if it happens (more LTC for me to trade) but it would be a prudent move to decide your exit strategy now.

I dream of a flash crash, I have buy orders for BTC ETH LTC set

The One Doctor

pro_gnostic_8 wrote: »

WHAAATTTTT ???
That'll be the rock you'll perish on, as my ould wan liked to say.
I don't mean to sound offensive, honestly , but maybe you've only been in crypto during a bull market. I've seen many many instances of coins that went into a death-dive and never recovered their earlier price.

Ok, we're using different definitions. A bounce doesn't have to go back to the original value at all, it just need to go significantly above the lowest recent price. That's my definition anyway.

Wombatman

Looks to be a bit of resistance around €220. Let's hope it holds.

dashcamdanny

I woke this morning to find a huge chunk of money disappeared.

When do you guys rekon its a good time to buy back into litecoin. If at all?

Hammer Archer

There's usually movement in the early/mid afternoon when the Yanks wake up. Unfortunately, it's been down each time the last few days but you never know....

The One Doctor

dashcamdanny wrote: »

I woke this morning to find a huge chunk of money disappeared.

When do you guys rekon its a good time to buy back into litecoin. If at all?

Hard to know. It's pushing down fairly consistently now, more than I would expect for a correction. If I was intending to buy to hodl I'd be waiting a while to see which way it swings.

Personally I'm expecting it to zoom or dive in the next few days. Which way? Who knows.

dashcamdanny

The One Doctor wrote: »

Hard to know. It's pushing down fairly consistently now, more than I would expect for a correction. If I was intending to buy to hodl I'd be waiting a while to see which way it swings.

I sold what I had left and got back into the bitcoin .

On the way up again.

Lord Nikon

fran426ft wrote: »

take a look at the markets for LTC on Coinmarketcap and you will see how prices vary

https://coinmarketcap.com/currencies/litecoin/#markets

Why isn't Coinbase on it?

banie01

Lord Nikon wrote: »

Why isn't Coinbase on it?

Likely because GDAX = Coinbase.

UsBus

Cmon Lite coin, bounce harder...

papu

UsBus wrote: »

Cmon Lite coin, bounce harder...

Boing!

Autochange

Bitcoin up, Ethereum up. Litecoin dropping!

Is there reason to consider thinking about possibly worrying ?

grindle

Autochange wrote: »

Is there reason to consider thinking about possibly worrying ?

No. All boats rise and fall with the tide.

Autochange

Been watching the trades with one eye on crypto compare for a little bit this evening.
There are lots of litecoin sell orders for 2.56 euro. What do these mean?
There was loads of them. Tiny amounts

Blacktie.

Autochange wrote:

Is there reason to consider thinking about possibly worrying ?

There's always a reason to consider thinking about possibly worrying.

machiavellianme

grindle wrote: »

No. All boats rise and fall with the tide.

Not all boats. Some are torpedoed or have holes in them so are sunk forever.

grindle

machiavellianme wrote: »

Not all boats. Some are torpedoed or have holes in them so are sunk forever.

Very true. Hard to torpedo something the size of LTC in a growing market, but maybe Charlie & devs & supporters will die overnight.

Twiggy69

I sold a couple of Litecoin on my Coinbase App. The price was clearly €272. However, on the transaction 'docket', prior to hitting the Sell button it showed €266. I came back out checked the price again, it was still at €272 ... attempted the sale again and again it showed €266. Also shown on the 'docket' was their 4% Commission... Why would there be
a price differential like this??? I will be sure to carry out all further trades on GDAX if I am going to gouged like this by Coinbase...

papu

Twiggy69 wrote: »

I sold a couple of Litecoin on my Coinbase App. The price was clearly €272. However, on the transaction 'docket', prior to hitting the Sell button it showed €266. I came back out checked the price again, it was still at €272 ... attempted the sale again and again it showed €266. Also shown on the 'docket' was their 4% Commission... Why would there be
a price differential like this??? I will be sure to carry out all further trades on GDAX if I am going to gouged like this by Coinbase...

Yes coinbase charge fees and do not give you current market value. The recommendation would be to do your trades on gdax.

The One Doctor

Nice drop on LTC there, bought a few coins. Coming back up now.