And of course, they will never get sold at a loss. I will ride them down 99.99% but still keep them. Even if they stop being quoted and are delisted, I will still keep the keys, etc. There is just too much about this whole thing that we don't understand, one day one of these might just turn out to be a lot more valuable than people think now
Global Macro Trading Journal
- Thread starter Daal
- Start date
My max risk budget is 1% in that strategy, as I mentioned, I will be adding more as I find them. Some of them are quite illiquid so its tough to get in without paying a big spread. I also have some fraud filters to make sure I don't get bagged for no reason. But overall, I like this strategy on top of my already existing strategy (long charts that I like)
Bitcoincash doing quite well in the last 3 hours or so. Ignoring the November 12 spike, it's at a new high.
I think it goes to $3k easily, prob higher. BTC is shit for transfers, BCH is way better
Two different Authors but the Same result. Target $24,000
1)
http://www.gorket.com/2017/12/17/bitcoin-could-see-24000-in-short-term/
2)
http://www.gorket.com/2017/12/16/coin_analysis/
1)
http://www.gorket.com/2017/12/17/bitcoin-could-see-24000-in-short-term/
2)
http://www.gorket.com/2017/12/16/coin_analysis/
If you know what you are doing and have timing skills, it was a lot easier to short bitcoin this year than it was the S&P500. Bitcoin dropped from $3k to $1,700, then from $5k to $3k, $8k to $5.5k, $11.4k to $9k, etc. There were setups and opportunities on the short side, but you cant be a moron and continue to hold a loss (which a lot of the the hedge fund guys do). But the S&P500 just anihilated shorts this year, there was simply virtually ZERO opportunity
I learned my shorting and timing skills (which are still under development but are better than most of the hedge fund guys) from working in the trenches and shorting micro and small cap stocks that go completely nuts and form mini-bubbles. If you are early in these, you are dead (just look at LFIN, IPOed at $5 and run to $120 in like 3 days), you got to pick your spots well and timing is everything. The good thing is there are many of these a year, so I get a lot of practice, I probably got involved in more than 80 in one way or another (LFIN there was no borrow, so I missed it, but I did consider a small short at $100)
The long-term fund guys face this type of stuff MAYBE once a year, so they take a lot longer to learn. I really think that daytrading/swing trading is a great tool for people to sharpen their trading skills and improve their long-term game. Its like when the online poker kids took over the poker world and left the old 'legends' in the dust. They got so much more practice playing online that they learned in 1-2 yearss what the legends needed decades to learn.
Last edited:
BCH $3.4K this morning from $1.5k like a week or so ago. This is why it is worth to take the risk that this market will crash 50%+. When you can double or triple your money in 1 week, a -50% move is nothing. This market is completely different from stocks or other traditional markets and because of that, it requires a different form of thinking