A daytraders dream, at least today. Rode it up then rode it down. Still have half my puts. glta
COIN
- Thread starter TraderTom1133
- Start date
I played it safe, and still lost a chunk on COIN...
It's all those books you are reading. Too much knowledge and education...rots and constricts the individualistic mind, personality, soul and creativity,
It seems like you read two new books every ten days -- ugggh...that type of personality,
Buffett reads a few magazines every day...
So that's the general idea....since Warren Buffett reads a few magazines every day....you will too....so you can become like him, and amass his great, magical, fortune?
Just because Michael Jordan trained a certain way....doesn't mean you will become a great too, because you replicated his style.
Just because Beyonce trained a certain way....that don't mean you will become a Beyonce just because you are reading her memoirs.
Same thing for Tony Robbins books, and Oprah books, and Bill Clinton books. And every trading book and finance book out there.
You truly have to be your own mind, and person. Don't buy someone else's narrative, everyone has their own agendas.
If you stand for nothing, you will fall for everything.
Every demon and devil personality out there in the world is trying to take advantage of you, and win over your soul.
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I sold naked puts on COIN. I figure even if crypto has troubles the exchange will still be worth something.
Selling naked options, whether they be puts or calls, seems to be a bad idea from what I have learned about options. *shrugs*. Good luck man!
By the way, thanks for posting this in the stocks section. It is totally appropriate. NOT.
newbies like to do counter-trend trading + sell naked options.
the success rate will be < 1%.
You should look out for trades with about a 50% success rate.
soon you have to top up your trading account again.
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That doesn't make any sense. If you did some basic DD, you would realize that COIN only can make profit when crypto is booming. The exchange is negative cash-flow otherwise.
And by Booming, I really mean BOOMING, not just "A lot of trades out there this quarter". And, they have to be willing to pay high fees.
Also the CEO has been accused of similar traits like that of the past CEO of Nikola. You know the types, immediately sell a huge chunk of their shares, to buy up stupid stuff like huge mansions & castles. Because, that takes more priority than running a legit business... or trying to make the business profitable. Or trying to improve the value of your shares by improving the company...
July 18 COIN $58.67.
Aug. 3 COIN $80.81.
Aug. 3 COIN $80.81.