Is anyone else starting to become a bit excited?

el diablo wrote: »

So has your crypto been on an exchange all that time or do you hold the private keys?

Oh, neither, simply CFD's through etoro. In hindsight I should have just obught them outright

Dohnjoe wrote: »

Mid december 2017 I am guessing. I think XRP will hit .80 quicker than LTC would hit 300. Anyway, let's see what shape this run takes, no two have ever been the same in the short history of crypto.

XRP will definitely hit $0.80 before LTC hits $300 (or $100). Might even happen this week.

One More Toy wrote: »

Ouch cfds are a dirty word these days, have you seen the disclosures of people who lose money, 80% or so

I have not! Why is that?

I have it on eToro and they seem fairly above board.

grindle wrote: »

Leveraged trading gambling on small up or downticks rather than long-term investing based on fundamentals (he says on a forum based on the most speculative assets known to man, oh the quasi-irony and leaps of faith necessary to make this work in my brain...)

That is fair but can you not do exactly the same with standard trading? Be it shares, crypto etc

I can see CFD's may have certain fees, they use your money as you are waiting for the uptick. I don't see the fundamental flow though.

gaming_needs90 wrote: »

That is fair but can you not do exactly the same with standard trading? Be it shares, crypto etc

I can see CFD's may have certain fees, they use your money as you are waiting for the uptick. I don't see the fundamental flow though.

Traditional trading is you buy stock hoping the price rises and/or hopefully provides dividends to you in the future which outpace inflation, relatively. Maybe coupled with a price rise when that happens because it's extremely bullish.

CFDs specifically use leverage, margin trading.
e.g.: They have let's say 100k Bull****WhateverStock [BSWS], they use 1k BSWS with 100x leverage to bet the price will move up or down (longing and shorting, respectively) 1% against another person betting the opposite. If the price moves in the opposite direction to your position in the contract - past the 1% up or down you wanted it to be - the person betting against you drinks ALL your milkshake. They get the full 100k BSWS, you now have zero asset left.

It's peak degenerate stock market and crypto gambling.
A great bot that provides examples of this in crypto.

grindle wrote: »

Traditional trading is you buy stock hoping the price rises and/or hopefully provides dividends to you in the future which outpace inflation, relatively. Maybe coupled with a price rise when that happens because it's extremely bullish.

CFDs specifically use leverage, margin trading.
e.g.: They have let's say 100k Bull****WhateverStock [BSWS], they use 1k BSWS with 100x leverage to bet the price will move up or down (longing and shorting, respectively) 1% against another person betting the opposite. If the price moves in the opposite direction to your position in the contract - past the 1% up or down you wanted it to be - the person betting against you drinks ALL your milkshake. They get the full 100k BSWS, you now have zero asset left.

It's peak degenerate stock market and crypto gambling.
A great bot that provides examples of this in crypto.

I did not use any of this leveraging though, which seems mad. I simple put in 1200USD and bought the two coins. Presuming I am up 1K and sell them, how would it be any practical difference to me physically having the coins and selling? I get the whole idea that etoro (Or whatever platform) uses my money until I cash out, much like my money in the bank.

I obviously own no asset here and am simply gambling on the trading platform staying afloat, which is not ideal.

A sea of red. Well that was fun while it lasted. :mad:

grindle wrote: »

If you didn't use the leverage you're better off at 1:1, but most wouldn't buy futures options unless they were intending to use it with leverage.

It's a part of the confusion with apps like Revolut and eToro offering exposure. eToro offer much leverage so we'd presume you wanted to use leverage (because if you were into crypto long term, just buy the asset) but it seems/sounds like you're just using it because you're already there?

I think I used it at the time because it was the easiest. I thought this was a fund and dump after a short time see. Gold rush style

Fair dues Grindle

Thanksgiving profits, just wait until Chinese New Year!

grindle wrote: »

Check your account to see if you went for some sort of default high leverage please.

Not saying you have done this, but many others not knowing what they've just bought have lost homes over this eventually, bankrupt because they've signed a contract & waiver saying "I'm good for this bro".

Make sure you haven't done this.

Just checked my account there and I have not. Thank you though, if I had it would be a different story.

I like how everyone on this forum is helpful as they have been through the ringer many times themselves