BTC/LTC update, FOMO/crash and personal break
Hi all, I will be taking a short break in BTC trading and focus more on the stock market instead; ibankstocks anyone?. I am taking a break here because I am frustrated at the exchanges and also market is illiquid and unpredictable.
I've lost about 10% of my coins to hedging, not trading, activity on OKcoin quarterlies. This was from last night when OKcoin futures trading went down and market shot up to 335 and higher. Margin-called and forced liquidated even though I had no control of my position. I am currently 35% cash, rest in BTC without hedge. So I guess you can say I am BTC long and holding.
Remember I wrote this article less than 24 hours ago? When is LTC going to hit a top? I believe we are close. Looks like LTC is done. I tried to short it with some play money yesterday, lost that even though I knew it was going down. Let us all learn from our FOMO experiences of what a LTC top looks like on this board this thursday. Thursday discussion on reddit. Read the entire thread, look at the sentiment shift on LTC every 4 hours!
Since we are talking about fomo and crashes, take a look at this S&P flash crash tape in 2010. Super interesting as well. Paper = mutual funds and large institutions. Cars = one S&P large contract worth 250k of underlying asset at the time.