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Bittrex is scamming users with ETHBEAR leveraged tokens
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My honest opinion, most of the points below are super obvious nothing new. and yet sometimes hard to follow: * Use, follow and honor even the most basic TA and use it as entry and exit points * Buy slowly. Sell fast when the profits targets are met * Always keep funds available. Nothing wrong in staying with cash on balance * Limit the margin usage to the maximum draw down loss (i.e. if an asset drop 80% from ATH, then use a maximum of 20% of margin (not x2 or x3) * When buying an asset, always buy a small % of the corresponding short of that same asset (i.e. if I buy 1 ETH, then I also buy 0.1 of ETH short or 0.05 ETHBEAR) * DCA is good, but I always set trailing stop sell (MKT) at -30% to limit losses * When I reach the target price to sell, most of the time, I set the trailing stop sell to -10%, so if there's another massive bull run, I will take a part of it. * If I miss the boat, then I wait the next drop to cross the lowest FIB, to buy back slowly. The next entry point after the first drop buy, is the crossing/reaching of the below FIB level once more. * Analyze the asset always on larger time frame * Compare at least with 1 other asset of the same class (i.e. BTC/ETH) and with 1 asses of a different class (BTC/QQQ). * Always, always remember that when the market crash (and it can happen anytime), I must absolutely have cash to buy. Probably this is the most important. * Macro analysis / economics have massive influence. This probably the second important. * The most important point and the second, I've placed them as the last bullets of this list, absolutely brilliant.
Some exchanges have BEAR tokens, which pretty much profit from a coin falling. XRPBEAR, ETHBEAR, BTCBEAR, for example
Leveraged tokens like ETHBULL / ETHBEAR on FTX?
Yup. If you put in $100, even if it was a leveraged long token, the most you could lose would be $100. They’re typically called like ETHDOWN and BTCDOWN or ETHBEAR and just BEAR for BTC.
I thought bear was up and bull was down, ended up buying ETHBEAR leveraged token and got a devastating result :(
Psstt... it’s all perspective. Look at the chart for ETHBEAR. They’ve have a great week lol