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7y

Do you also hate that feel when you have to deal with 110% idiot? Today, BTC hit 5000$ mark, right now it was 5200$. Media are now full of BTC. Me with my friend, having lunch.
Me: Wow, BTC is finnaly over 5k$.
Friend: Wow, I will just wait till it gets to 5500$ and then buy so I can sell it for kore when price drops.
Me: *trying to explain that if you want to profit you need to buy when its cheap and sell when its expensive*
Friend: No you are lying thats bullshit *ragequit*

It really hurts since he is really smart, especially good in math and logical thinking... 🙄

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  • 30
    7y
    ...or is he?
  • 5
    7y
    @olezhka maybe hes part of chinese crypto illuminati eith grrat plan how to conquer and contol world using at fiest look extremly stupid trading tactics. Stay woke guys, NNWO (new new world order - looks like a nice name for new shitcoin) begins now.
  • 2
    7y
    That last sentence is contradictory.
  • 2
    7y
    @Cyanide yeah, at leas I thought that...
  • 2
    7y
    @CopyPasteCode Your bio though 👍
  • 3
    7y
    @Cyanide thanks, I procrastinated really hard for sleepless hours to create something as awesome as my bio
  • 2
    7y
    @CopyPasteCode Well then you deserve some ++'s :)
  • 4
    7y
    Can I do some trading with him? Pleeeease?
  • 2
    7y
    He's just gonna sell the BTC for negative profit.
  • 1
    7y
    While the rant as described seems to indicate that the friend doesn't know what he's talking about, I feel the need to point out that you can in fact make money out of prices going down using an appropriate hedging strategy.
  • 2
    7y
    @Shodan "buy high and sell low" is definitely not a hedging strategy though, is it?
  • 1
    7y
    @endor I'm no expert on finance, but I'd definitely put it more in the "financial common sense" category 😅
    I guess that whether something is part of a hedging strategy or not depends on if you have something for it to hedge against (i.e. something that goes down when it goes up and vice-versa).
  • 1
    7y
    Perhaps he has it confused with shorting it on margin? But perhaps I give him too much credit..
  • 1
    6y
    Brain is setup in reverse order for this smart person.
  • 0
    6y
    Some standard issue stock market people wait for something to gain value prior to buying it then set a max on the amount they think they'll gain prior to selling.

    So they buy during a bullish rally at the beginning, then wait for it to be tested and fall slightly. That could be what he's talking about, I think
    ....
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