tales from the crypt

[hayseed]

a good friend asked me about doge coin last friday..... he had bought a lot...... it was something i had never heard of..... which shows my knowledge of crypto's......

but trading is trading.....

this weekend i read everything i could find on DOGE, ETC, ETH, BTC, BCH, BSV......

opened an account..... and took the plunge......

one thing that strikes me as nice is that it is truly 24/7..... of course you knew that, but i didn't......

there seems to be a cult following but more and more traditional institutions seem to warming up to the idea..... wells fargo bank mentioned it today.....

being able to buy fractional coins has an appeal to my brand new and very small crypto account.....

another thing is the wide daily ranges .....

and like forex, the pattern day trader rule does not apply .....

this was probably a good week to dive in for someone looking to the future...... todays terrible moves stand a good chance of being repeated before the uptrend continues.....

the 50 ma is below the 100 on all, so it's small limit buy grid trades for me......h

 

[hayseed]

 

[Enivid]

Yes, there is currently a nice downtrend to ride in cryptocurrencies, especially in the likes of DOGE and ETC.
@hayseed Do you mind telling what kind of spreads and commission do you pay your broker on DOGE/USD trades?

 

[hayseed]

Yes, there is currently a nice downtrend to ride in cryptocurrencies, especially in the likes of DOGE and ETC.
@hayseed Do you mind telling what kind of spreads and commission do you pay your broker on DOGE/USD trades?

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hey enivid..... i'm using robinhood which is a very stripped down platform in terms to what i'm used to..... really need a mt4 broker.....

there are no commissions and the spreads are not easy to view......

right now at 4:50 pm cst in the states, as best i can tell the spread is 0.002 cents on DOGE, 30 cents on ETC and around 140$ on BITC......

robinhood will work, but it seems to be intended for a different group....

but i'm hooked either way.....h

 

[hayseed]

forex....... wrote it down just so i could remember how it was spelled......

the coins have my full attention now.....h
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[hayseed]

enivids crypto broker list....
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[hayseed]

.....h
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Post automatically merged: May 21, 2021

 

[hayseed]

blink......

malcom gladwell's book 'blink' is about making snap judgements...... judgements that are made in the blink of an eye..... that concept is universal....

it can apply to high pressure trading like paul tudor jones..... we've all seen his videos were large amounts of money made or lost in a blink .....

or, we can back away take our time and look at the big picture......

we can blink, blink again, and even take a nap..... prepare yourself for support.....h
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[hayseed]

but it has fallen from a little over 200 to a low of today of just under 40 in past two weeks..... 80%

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so, imagine something fell 80% from 200..... now it's 40$..... i don't think i'd plunk every penny down on 40 and wait......

could it fall another 80%...... of course it could......

so, from 40 we might be looking at 8$..... if we used 8 as absolute ground 0, scaling in our long term buys would seem practical.....

assuming you felt what you were buying has a long term future.....

this will be my approach......h
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[vicjon1995]

You’re lucky, you jumped into the Crypto market now when it is down than forever. I wasn’t that lucky though. Bought DOGE at a much higher price and almost more than half of what I put in , is lost. LOL . But I’m still hopeful

 

[Dora_WalletInvestor]

What timeframe are you trading right now? So far I haven't traded cryptos before, just held them long term and sold and bought when the price reached a peak or dropped, respectively.

 

[hayseed]

You’re lucky, you jumped into the Crypto market now when it is down than forever.

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hey vic..... your right......

my friend bought doge around 70 cents..... he still has it.....h

 

[hayseed]

What timeframe are you trading right now? So far I haven't traded cryptos before, just held them long term and sold and bought when the price reached a peak or dropped, respectively.

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hey dora..... i'm just placing buys at certain amounts down in grid fashion.....

in the case of bit coin, it was on every 1000$..... bch, every 50$...... eth, every 100$ .... etc, every 3$ and so on......

so the time frame really did not mater for me at this moment..... i'm only watching the % moves down....
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but they do appear tradeable like anything else...... once this hard fast moves soften, at some point i'll move to the 240 charts.......h
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[hayseed]

prepare yourself for support.....h

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one day does not a trend make......

or was it swallows and summer......h

 

[vicjon1995]

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hey vic..... your right......

my friend bought doge around 70 cents..... he still has it.....h

I bought it around 75 Cents. Let’s see if I’ll be able to cover up the lost money or not.

 

[hayseed]

a little green showing on the 240's .....h
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[hayseed]

and here we go again..... double digit reds across the board.....

warren buffet said once, ' be scared when others are greedy and greedy when others are scared'...... not sure if that applies here...... too scared to think about it.......

doge is definitely moving out of the weak hands today...... would not rule out a 60 second black swan dive......

followed by a 30 second dead black cat bounce......h
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[hayseed]

it's funny..... when doge was 70 cents, i was thinking man it would have been nice to have bought at 20...... then the opportunity is here and now what .......

brings to mind that saying, be careful what you ask for......

i'd be preparing myself for 9......h
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[hayseed]

btc being down 5% or 1770 might seem bad..... till you look a few hours earlier.....

a rough night in jericho...... or crypto as the case may be.......h
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[hayseed]

if you had to guess, what do you think the average age of a bit coin trader would be...... what would be the average age of a doge coin trader.....

crypto's and forex pairs can be thought of having roughly similar volatility measurements like the are greeks measurements in options .....

high beta stocks tend to be riskier than low beta...... there indexes that track those high beta, high risk, high profit, high loss issues..... in 1x, 2x and 3x which try to match the movement in those 1, 2 or 3 multiples....
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thinking in terms of crypto, bit coin might be traded by more seasoned deep pocket traders...... doge coin might be traded by a different crowd.....

if we think in terms of %'s of movements, doge coin would be high beta while bit coin would be not so......

the differing crowds trading each could very well be the reason......h
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