Just shorted ETH with 6% stop loss

Don Goldstein

Don Goldstein

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I am Ethereum platform maximalist, not ETH maxi. ETH is just a gas to run dapps, but nowadays, they use it for staking or collateral. And staking ain't profitable in bear markets. It didn't dump enough during recent shit storm. Probably many people couldn't unlock their ETH stash, because platform has some limits.

Not an investment advice, but it needs to go down. Even if it becomes foundation of financial world in cyberpunk era, market won't care. Even amazon stock dumped more than 50% in the last 12 months. And then, there is tether and binance bullshit...
 
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Most of them would dump cuz of inflation mate , so we know that whales are surely manipulating the market again and again
 
Don Goldstein said:
And staking ain't profitable in bear markets.
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On the contrary, this is the time to make money.

Don Goldstein said:
ETH is just a gas to run dapps, but nowadays, they use it for staking or collateral.
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When I think of NFT prices, I don't calculate them in dollars or fiat. I bought ENS domains with ETH. It sure feels like more than gas to me.
 
big drops coming in crypto soon...just saying.
Not a Financial Advice
 
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Don Goldstein said:
I am Ethereum platform maximalist, not ETH maxi. ETH is just a gas to run dapps, but nowadays, they use it for staking or collateral. And staking ain't profitable in bear markets. It didn't dump enough during recent shit storm. Probably many people couldn't unlock their ETH stash, because platform has some limits.

Not an investment advice, but it needs to go down. Even if it becomes foundation of financial world in cyberpunk era, market won't care. Even amazon stock dumped more than 50% in the last 12 months. And then, there is tether and binance bullshit...
Click to expand...
Have you heard of ETH validating, it's the better way to earn instead of basic/normal staking, you can have your own node (pretty cheap compared to what it used to be) and validate transactions, some miners have already moved to it, whenever the market recovered, it would be a win win, normally, NFA.
 
Good that you shorted ETH, however I hope you have not used any leverage, because any sudden wild fluctuations could liquidate a leveraged trade.
 
That’s a terrible trade. A six percent stop loss positions you just above the recent highs which will most certainly be retested in this ranging sideways market.

You would be much better shorting if ETHUSDT manages to set a new lower low and falls beneath the four hour 200 moving average (recently respected by the market on multiple occasions over the last week).

Right now you’re just gambling with that stop loss … however your decision making based on the fundamentals is probably fairly sound.
 
Trust WorkShop said:
Good that you shorted ETH, however I hope you have not used any leverage, because any sudden wild fluctuations could liquidate a leveraged trade.
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just 2x. you're right, even 10x is ultra risky during fomc events. and 2x is nothing in large cap assets.
 
A
wolfman1 said:
That’s a terrible trade. A six percent stop loss positions you just above the recent highs which will most certainly be retested in this ranging sideways market.

You would be much better shorting if ETHUSDT manages to set a new lower low and falls beneath the four hour 200 moving average (recently respected by the market on multiple occasions over the last week).

Right now you’re just gambling with that stop loss … however your decision making based on the fundamentals is probably fairly sound.
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Agreed, I think 1310-1350 can be targeted before the next move down.
 
I did warn you … I hope you closes that short before the price popped.
 
@0xdanny why are you grin? What's funny about it? At the end, I made some money, while you thought eth is valuable shit.
 
Don Goldstein said:
I just closed the position with profit. and shorted solana with 2x leverage.
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Excellent. Good leverage choice!

The post title does mention a 6% stop loss though, and ETH increased by 7.2% Did you add extra funds, or buy more at a higher price?
 
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