No one was talking about short. Virtusa said "he wouldn't buy here". Then he went onto saying (at Oct high) this has got further to fall and will have another new monthly low, or something along those lines. Keeping everything in context, this is your journal, you're bullish and continue to average down. Virtusa steps in and against the tide of opinion says "whoa, not a good idea". Virtusa has been right, plain and simple imo as far as technicals of a trading call, although he gives no details.
You said "You gotta admit. He's pretty dang good on calls." And what I'm telling you is that he didn't call anything. He's only posting opposite opinions to what I'm doing. That's not making a call. That's posting a dissenting opinion. It doesn't seem like you understand the difference.
I read all the posts on this thread and clearly virtusa hasn't minced his opinion regarding cryptos in general and your trades in particular. This is your crypto journal and he is coming on your thread to repeatedly make negative remarks about your entry points so I can understand you getting a bit fed up, particularly because crypto is not doing well at all. It's like putting salt on a wound. I can tell that the friction is actually more cultural than over substance. I'm guessing virtusa is French or German and used to decisional hierarchy. He professes without explanation for he holds the keys of trading clarity that should be heeded by those who know little. The "do as you're told and don't ask why" top down approach doesn't fly for Americans in general and, again, for traders whose decisions are key to success and failure. While I believe he has good insight, much is unfortunately lost in translation when he takes an excessively defensive posture when challenged. Anyway... I think there's something to gain here.
virtusa-is-a-liar is a broke loser CTA that is why he cannot show proof of his successful trades Anyone claiming virtusa-is-a-liar called the top in Oct-Nov 2021 are either disingenuous or too stupid to know that the Fed announced a tightening policy end of last year Liquidity sucked out of all markets. 60/40 did not work this year, no shit Sherlock, no money printing. Stocks, bonds, real estate and Bitcoin and cryptos crashed You don't believe me? Look up the prices of TSLA, AMZN, NFLX and others Oct-Nov 2021
Virtusa is the real deal. I don't think a successful trader needs to post proof of his successful trades online. For what purpose really? I know a few others here who keep a low profile, but have done very well. He doesn't seem to sugar-coat his posts, though. No doubt stirring up negative emotions with those who believe in crypto. Well, even if he didn't post a short and rode it all the way down, he did caution against buying and indicated there was more downside potential in the weeks ahead. You have to admit that 2022 have been a terrible year for crypto. I was personally on the fence and considerered buying, but this year was probably the nail in the coffin for me. Bitcoin was supposed to be a hedge against inflation and central banks, but now we know for sure that it's a risky asset and the first to be liquidated. It's a big paradox with crypto that it was precisely central banks (which the crypto crowd dislikes) that helped fuel the growth of crypto. Now that the FED took away the punch bowl. Crypto collapsed. If BTC had shown resilience and held up this year like it was indicated it should do, I would be interested. I could still be interested in buying here as a high risk lottery ticket, but that's what it is for me. A lottery ticket.
As was just noted by the previous poster, isn’t Bitcoin supposed to be above that fray? In fact, is that not the principal attraction among those rugged individualists who abhor Fed/government intervention? Was not Bitcoin going to save you from all that on its direct flight to the moon?
You keep sucking on virtusa-is-a-liar's titties and giving him an excuse for not showing shit Virtusa-is-a-liar claimed to outperform BTC for the year at the time when BTC was up over 1000% at the time our exchange. virtusa-is-a-liar claimed at the time that virtusa-is-a-liar outperformed BTC for 10 years when BTC went from $1 to many thousands of $ Seriously, you want to say virtusa-is-a-liar does not need to provide proof of his ridiculous claims?? WTF, go worship virtusa-is-a-liar, some people see his lies ---- You completely sidestepped my point that everything crashed after the end of 2021 because of Fed tightening You know the Fed officials all sold their investments end of last year, that's pretty telling that they knew what was gonna happen ---- Bitcoin was supposed to be unrelated, but fucking traditional finance centralized companies and projects decided to leverage Bitcoin and cryptos, Luna-UST, Celsius, BlockFi, Voyager, 3AC, FTX-Alameda, then recently, Genesis It's a fucking mircale Bitcoin is still above $16K after the collapse and selling of the above. It could still go down a lot that Genesis contagion is huge But don't blame Bitcoin and cryptos for crashing. Blame the Fed for causing everything to crash and the tradfi companies and people involved in cryptos to become bankrupt
That was PRECISELY my point. How did you miss that? Crypto (BTC) was supposed to be a hedge against inflation and central banks, but it failed massively to do so in real life. You're just repeating what I said like I didn't say it. The point you seemed to miss was that crypto (BTC) wasn't supposed to crash. That was the narrative. It was to be a hedge against inflation and poor central bank policy, i.e., buy crypto to protect yourself from central banks printing away the value of your money. I'm sure it was supposed to be a lot of things. Now we know more. I wouldn't be surprised if there are people on EliteTrader who lost money in crypto because of you who are always bullish and un-critical towards Bitcoin. You were arguing earlier about how poor people in the 3rd world needed crypto because of depreciation in their own local currencies and how Bitcoin would protect them against that. Fact is that everyone who bought crypto this year whether that's in the 3rd world or wealthy individuals are facing a massive loss. Blaming the FED won't change that simple and harsh fact. And nobody should be surprised to see this as plenty of people have warned that this could happen.
In fairness to @virtusa , his call was I wouldn’t be a buyer at these levels. The fact that he didn’t go short is not relevant, IMO. Being out of the market is a cal in and of itself Specially for a person who trades.
Fwiw *** I **** made a legendary short crypto call Sept 27 2021 here at 39.8... proof https://www.elitetrader.com/et/posts/5464207/ Who's your daddy lol