OT Bitcoin, Blockchain and Cryptocurrency

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Sexymarinersfan
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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by Sexymarinersfan » Sun Nov 29, 2020 7:38 pm

D-train wrote:
Sun Nov 29, 2020 2:08 pm
Sexymarinersfan wrote:
Sun Nov 29, 2020 10:44 am
D-train wrote:
Sat Nov 28, 2020 2:41 am
Take a look at SAVA. Do your own research.
I've made everything back in the last 20 days. I was down 50%. Just before the election,, I invested heavily in clean energy and EV stocks such as PLTR, WKHS, VVPR, and XPEV. Wish I could've put something into Bitcoin recently. This is my first year of trading and I'm dead even 8 months in.
A lot of people would very happy to be even after their first 8 months. Myself included. I got killed on a covered calls strategy when I first started back in 1998. But I kept at it and ended up make several hundred k in the internet teck boom from Sept 1999 to Spring 2000. When I sold my house in May I put in $25k in my trading account. Took a bad $10k loss on a company that got bad FDA news dropping my down to about $14k but now I am back up $34k so $9k in the green and up about 143% from the low.

I buy good companies on profit taking dips and bad days in the market or if they are over sold on minor bad news. Working pretty well as they usually snap back to recent highs with in a few days. If they don't, then I don't mind holding because they are good companies.
I feel like the entire EV sector is being over sold right now, but its just so dang hot. I feel like the trick for me is when to get out just before the pull back. I use the finviz chart to form a lot of my calculations, and also have a really good financial click of coworkers in which to bounce ideas off of.

You're killing buddy. I hope to do that good some day. Right now, I'm just learning about options. There's just so much to learn you're first year in, especially when I'm trying to be self taught.

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D-train
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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by D-train » Sun Nov 29, 2020 7:48 pm

Sexymarinersfan wrote:
Sun Nov 29, 2020 7:38 pm
D-train wrote:
Sun Nov 29, 2020 2:08 pm
Sexymarinersfan wrote:
Sun Nov 29, 2020 10:44 am


I've made everything back in the last 20 days. I was down 50%. Just before the election,, I invested heavily in clean energy and EV stocks such as PLTR, WKHS, VVPR, and XPEV. Wish I could've put something into Bitcoin recently. This is my first year of trading and I'm dead even 8 months in.
A lot of people would very happy to be even after their first 8 months. Myself included. I got killed on a covered calls strategy when I first started back in 1998. But I kept at it and ended up make several hundred k in the internet teck boom from Sept 1999 to Spring 2000. When I sold my house in May I put in $25k in my trading account. Took a bad $10k loss on a company that got bad FDA news dropping my down to about $14k but now I am back up $34k so $9k in the green and up about 143% from the low.

I buy good companies on profit taking dips and bad days in the market or if they are over sold on minor bad news. Working pretty well as they usually snap back to recent highs with in a few days. If they don't, then I don't mind holding because they are good companies.
I feel like the entire EV sector is being over sold right now, but its just so dang hot. I feel like the trick for me is when to get out just before the pull back. I use the finviz chart to form a lot of my calculations, and also have a really good financial click of coworkers in which to bounce ideas off of.

You're killing buddy. I hope to do that good some day. Right now, I'm just learning about options. There's just so much to learn you're first year in, especially when I'm trying to be self taught.
Maybe we need to start an investing/trading forum! Let me know if you have options questions. I have a lot of experience with them.
dt

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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by Sexymarinersfan » Mon Nov 30, 2020 1:00 am

D-train wrote:
Sun Nov 29, 2020 7:48 pm
Sexymarinersfan wrote:
Sun Nov 29, 2020 7:38 pm
D-train wrote:
Sun Nov 29, 2020 2:08 pm


A lot of people would very happy to be even after their first 8 months. Myself included. I got killed on a covered calls strategy when I first started back in 1998. But I kept at it and ended up make several hundred k in the internet teck boom from Sept 1999 to Spring 2000. When I sold my house in May I put in $25k in my trading account. Took a bad $10k loss on a company that got bad FDA news dropping my down to about $14k but now I am back up $34k so $9k in the green and up about 143% from the low.

I buy good companies on profit taking dips and bad days in the market or if they are over sold on minor bad news. Working pretty well as they usually snap back to recent highs with in a few days. If they don't, then I don't mind holding because they are good companies.
I feel like the entire EV sector is being over sold right now, but its just so dang hot. I feel like the trick for me is when to get out just before the pull back. I use the finviz chart to form a lot of my calculations, and also have a really good financial click of coworkers in which to bounce ideas off of.

You're killing buddy. I hope to do that good some day. Right now, I'm just learning about options. There's just so much to learn you're first year in, especially when I'm trying to be self taught.
Maybe we need to start an investing/trading forum! Let me know if you have options questions. I have a lot of experience with them.
I'm open to the idea of it. I will for sure. Thanks a lot.

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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by Sexymarinersfan » Tue Dec 01, 2020 8:49 am

D-train wrote:
Sun Nov 29, 2020 7:48 pm
Sexymarinersfan wrote:
Sun Nov 29, 2020 7:38 pm
D-train wrote:
Sun Nov 29, 2020 2:08 pm


A lot of people would very happy to be even after their first 8 months. Myself included. I got killed on a covered calls strategy when I first started back in 1998. But I kept at it and ended up make several hundred k in the internet teck boom from Sept 1999 to Spring 2000. When I sold my house in May I put in $25k in my trading account. Took a bad $10k loss on a company that got bad FDA news dropping my down to about $14k but now I am back up $34k so $9k in the green and up about 143% from the low.

I buy good companies on profit taking dips and bad days in the market or if they are over sold on minor bad news. Working pretty well as they usually snap back to recent highs with in a few days. If they don't, then I don't mind holding because they are good companies.
I feel like the entire EV sector is being over sold right now, but its just so dang hot. I feel like the trick for me is when to get out just before the pull back. I use the finviz chart to form a lot of my calculations, and also have a really good financial click of coworkers in which to bounce ideas off of.

You're killing buddy. I hope to do that good some day. Right now, I'm just learning about options. There's just so much to learn you're first year in, especially when I'm trying to be self taught.
Maybe we need to start an investing/trading forum! Let me know if you have options questions. I have a lot of experience with them.
Well today was disappointing for the EV sector. I'm hoping for a better one tomorrow.

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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by D-train » Tue Dec 01, 2020 2:00 pm

A friend of mine told me about Solo a few months ago. Talk about a wild ride. Both the stock price and the "car". Way too speculative for my taste and I wouldn't buy their 3 wheeled vehicle if my life depended on it. lol

https://www.youtube.com/watch?v=gei5LgVwV0E
dt

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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by Sexymarinersfan » Tue Dec 08, 2020 11:01 am

$SBE, $WKHS, $PLTR, $VVPR, $NIO, $XPEV, let it Ride!!!!

TraderGary
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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by TraderGary » Wed Dec 09, 2020 6:11 am

bpj wrote:
Tue Nov 24, 2020 10:40 am
Still cheap.

Your grandkids will say, "Remember how Grandpa says he could have bought Bitcoin under $20k?"
bpj, thanks for the info. I just discovered this thread tonight.

I've been trading stocks, futures, and some options for a number of years but have purposely steered away from the crypto's. They scare the hell out of me because I experienced the "dot com" bubble, and for me personally, this feels like a repeat of that. It's all everybody seems to want to talk about these days, just like they did with the dot coms. It's all over the internet and message boards. That's typically a sign to stay as far away as possible.

That being said, I know absolutely nothing about this market and you seem to be quite knowledgeable on the subject based on what I've read in this thread, and I respect that. So please understand I'm not suggesting your info is not valuable, or accurate, or actionable or anything else. But I would like to play devil's advocate for a moment if you don't mind.

What would you say if I suggested to you that Bitcoin or any of the other crypto currencies is a repeat of the dot com bubble? I'm not asking you to convince me, but I'm curious how you would respond to that if someone walked up and posed that question to you.

Thanks

TraderGary
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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by TraderGary » Wed Dec 09, 2020 8:07 am

SMF, if I may offer a suggestion, please be very careful with options if you're not well versed in them. I don't know if you're looking to buy or sell options, but you can really get hurt in a hurry. I've been trading for a number of years, and I can tell you most of the professionals (and even the non-professionals like myself) don't buy options. They sell options premium for weekly and monthly income. It's comparable to being an insurance company. You're assuming a certain amount of risk and collecting a monthly premium for that risk, with the odds stacked in your favor if you do it right. You should be using a combination of technical analysis combined with options fundamentals (“Greeks”).

I don’t know if you look at company fundamentals, but technical traders (myself included) believe the fundamentals are already reflected in the stock chart. But if you’re a long-term investor and plan to hold positions for months or years at a time, then I would definitely want to know about the company’s balance sheet.

Back to options. The biggest thing working against an option BUYER is Theta decay, which is the time premium. Volatility is another double-edged sword. You can be right on the direction of a stock and still lose money because options are a deteriorating asset based on Theta decay. And if Volatility is moving against you, that can hurt you even more. So if you're going to trade options, I would strongly suggest you be well versed in the options Greeks, particularly Theta, Delta, Vega, and Gamma. And maybe you already are? I don't know where you are in your learning curve but I just wanted to offer that suggestion. You seem like a good guy and I don't like to see anyone get hurt when they're just starting out and trying to learn the trading game.

Also, if you're really serious about trading, I would suggest working with a good trading platform like the professionals use. If you fund an account with TDAmeritrade, (don't recall if there's a minimum amount but I don't think there is although if you're planning to day trade you will need to have at least 25k in your account), you get access to "ThinkorSwim" free of charge and it's an excellent professional traders platform. It's the one I use FWIW.

There's a definite learning curve regarding the platform, but it's well worth your time and effort. It's a very powerful tool, particularly for options trading. It was originally created by Tom Sosnoff who's a very well known and highly regarded options trader/educator, who does a live daily options broadcast online during regular market hours. I believe it's still free to sign up and access but don't quote me on that. Just google Tom Sosnoff and it will pull up the page if you're interested.

Anyway, on that same platform, you can also practice your strategies using a paper trading account with no money on the line and no risk involved. If you're new to options, I strongly suggest doing that for a while till you become comfortable and confident in what you're doing. You can practice trade any strategy you choose, in any combination you can dream of. You get the same data, but it's just delayed by 15 or 20 minutes. But you get real world results based on actual data. It's a GREAT and very VALUABLE tool. When you log into the platform, you have the option of logging into the paper trading side or the funded side. Of course on the funded side, you get live real-time data free of charge. You cannot beat it IMO. (FYI, I'm not affiliated with them in any way, but TDAmeritrade should offer me a commission for this suggestion.... lol).

I'm also a self-taught trader, and when I first starting learning about the market years ago, we didn't have near the resources we do now. You're fortunate in that there is a wealth of very good info on the internet today. (Some of it not so great, but you have to filter through it). Soak it up. Even a lot of good stuff on YouTube if you're a visual learner like I am. When I was trying to teach myself how to trade years ago, about the only thing I had to learn from were books, the occasional webinar, and trial and error. It took much longer to achieve any success and I struggled for quite a while. Almost gave up a couple times. But with all the resources available to us today, it's so much better now. I don’t want to say easier because in my opinion it is not easy to learn how to trade successfully, on a consistent basis.

Many new traders on average blow through 2 separate trading accounts before the light bulb comes on, so you're doing very well. Congratulations and keep it up. Never stop learning. It's an ongoing education as the market is always changing and there's always something new to learn.

As far as knowing when to get out, learn how to project profit targets (Fibonacci's are great for that combined with price support/resistance, moving averages, trend lines, etc) and also how to use trailing stops to protect profits. There are a number of different ways to trail a stop. ATR (average true range) is a very popular method for doing that. A 2-bar trailing stop is another popular one along with moving averages. Tons of info on the net about all these things and so much more.

And before you enter into any trade, you should always know where you're exit point is if you're wrong, otherwise emotion can take over, and that's never a good thing. It can cause you to make bad/emotional decisions and justifications that could potentially wipe out your account. Everyone experiences losses. There isn’t a trader in history who has not had a drawdown from time to time. Think of it as a cost of doing business – “overhead” if you will.

Was just going to write a few sentences but ended up writing a book. I guess when I start talking about trading, (or Seahawks/Mariners), I sometimes get carried away. Please understand I’m no expert or world-class trader. I’m just an average trader with wins and losses like everyone else. But I saw your post and wanted to offer a few tidbits from things I've learned over the years in the hope that it might be at least a little helpful to you in some way.

Anyway, good luck to you and I hope you become the next millionaire. If you do, maybe you can teach me a few new things you learned about trading. lol It's always interesting to learn how different traders have different perspectives.
Last edited by TraderGary on Wed Dec 09, 2020 2:02 pm, edited 3 times in total.

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bpj
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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by bpj » Wed Dec 09, 2020 8:28 am

TraderGary wrote:
Wed Dec 09, 2020 6:11 am
bpj wrote:
Tue Nov 24, 2020 10:40 am
Still cheap.

Your grandkids will say, "Remember how Grandpa says he could have bought Bitcoin under $20k?"
bpj, thanks for the info. I just discovered this thread tonight.

I've been trading stocks, futures, and some options for a number of years but have purposely steered away from the crypto's. They scare the hell out of me because I experienced the "dot com" bubble, and for me personally, this feels like a repeat of that. It's all everybody seems to want to talk about these days, just like they did with the dot coms. It's all over the internet and message boards. That's typically a sign to stay as far away as possible.

That being said, I know absolutely nothing about this market and you seem to be quite knowledgeable on the subject based on what I've read in this thread, and I respect that. So please understand I'm not suggesting your info is not valuable, or accurate, or actionable or anything else. But I would like to play devil's advocate for a moment if you don't mind.

What would you say if I suggested to you that Bitcoin or any of the other crypto currencies is a repeat of the dot com bubble? I'm not asking you to convince me, but I'm curious how you would respond to that if someone walked up and posed that question to you.

Thanks
I think you're exactly right, only in my opinion we're at the very beginning of adoption long before any bubble. Still only ~1% of people are actually in the crypto market.

The entire crypto market cap is currently $535 Billion dollars in a worldwide market encompassing thousands of projects.

To understand where we're at in this "bubble":

Amazon- market cap is $1.6 Trillion (this one company is 3x the size of the entire crypto market).

Ebay- market cap is $36 Billion.

The market caps of a few projects I think have potential to be, "Boy if I had just thrown a few hundred bucks at that" type of plays 20 years from now when people look back at what were the emerging crypto markets like we do now about the eBays, Amazons, etc.

Tellor Bank (TRB)- $36 Million market cap
IRISnet (IRIS)- $49 Million market cap
Open Annex (OAX)- $4.9 Million market cap

Some of these projects out there become even one billion dollar projects and you already 10x your money.

So, yes, I agree we're looking at a potential crypto bubble, but it's going to be years down the road when more than 1% of people are in the market.

The rumblings you're hearing are still just the infancy of the market.

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Re: OT Bitcoin, Blockchain and Cryptocurrency

Post by bpj » Wed Dec 09, 2020 8:50 am

Many people thought Michael Saylor, CEO of Microstrategy was crazy for buying $425 million dollars of Bitcoin at what seemed like a very high price at the time of $11,000.

A few months later bitcoin hits $19,000 and he doesn't seem all that crazy.

Here are some of his tweets regarding Bitcoin, you can see his opinion changed a lot since 2013:
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