OT: Crypto, Stocks, Bonds, Real Estate, Investments, IRAs & Finances, etc.

[br7knicks]

Future of crypto regulation

[Stannis]

Jeez what a fire lol

[Kampuchea]

Good news - stopped out of holdings last week. Bad news - should have stopped out weeks earlier.

[br7knicks]

**** gonna be on discount soon. bought 150 more QYLD this past week

[stuporman]

I really don't know what types of strategies other traders use but in the few months I have been following the crypto market and with the modest sized account I opened to try it out I have found a few different ways to pull some gains out of the price action going on.

Using some of the principles I already employ in trading the forex market it seems that a trader could make some relatively consistent profits if they can manage the two emotions that are the bane of all traders., fear and greed. It's a balance of patience and action.

One way I put it is will you pass up the 20 looking for the 100? Meaning, if you're walking along the street and see a $20 bill laying on the ground are you going to pass it up because it might turn into a $100 bill down the road? There's no guarantee it will and it unlikely it ever will and that smaller gain can blow away if you don't grab it.

I've found in crypto this idea is more relevant than it may be in forex to a certain degree. You may buy a coin and after a short time find yourself up 10% or 20% because surges up or down 10%-20% in a couple days is pretty common it seems. Many of them correlate as well meaning they almost all go up and down together.

It's exciting because that type of return is good in the financial world but you may not be satisfied with that, you want the big return, the 100%, 200%, 1000% and to the moooooooooooon! You feed on the greed but then the price action goes back down so the 20% of 'floating profit' is gone, you're back to break even or worse, down a bit.

If we pass up the 20% looking for the 100% or more it may never come and the 20% can float away....because it's floating profit, not realized. Sure, f you want to still be in the game for the moon shot then leave something on the table. I typically scale in and scale out of positions, I rarely push all in or pull all out at once.

On the other side maybe you bought a coin and you didn't use the wisest of technical analysis, it had gone up 20% in a couple days before you got in and you thought you were going to ride a trend up all the way to the mooooooooon! You pushed all in at once and then it goes back down so you're sitting on 20% floating loss.

It's hard to not feed on the fear and pull out so not to 'lose' any more than that....except all you did was take floating loss and turn it into realized loss. It's over, that's a loss and if it bounces back up after a few weeks you are out, you lose...good day sir! That is probably a worse feeling than the loss itself seeing it bounce back.

Every trader has a different strategy, different tolerance for risk, different goals so I can't say to anyone you should be or shouldn't be doing this or that, don't go all in or don't pull out but instead have a clear idea of what these are for you. Know your goals, know the market you are trading and the instrument(s) you are working with.

Crypto does appear to have a platform to be able to pull out relatively consistent gains for someone who has a plan and patience to work it. I've realized over 40% gain in around 4 months and to compare that to my forex account I have about 20% gain in that same time span.

It takes some understanding and some attention but with trading apps in the palm of our hands we can be doing something else like our regular day job surviving and still working our accounts slowly building them up to a point that we may be able to trade full time and pay the bills off of it eventually....or even more, living large off it.

[br7knicks]

I really don't know what types of strategies other traders use but in the few months I have been following the crypto market and with the modest sized account I opened to try it out I have found a few different ways to pull some gains out of the price action going on.

Using some of the principles I already employ in trading the forex market it seems that a trader could make some relatively consistent profits if they can manage the two emotions that are the bane of all traders., fear and greed. It's a balance of patience and action.

One way I put it is will you pass up the 20 looking for the 100? Meaning, if you're walking along the street and see a $20 bill laying on the ground are you going to pass it up because it might turn into a $100 bill down the road? There's no guarantee it will and it unlikely it ever will and that smaller gain can blow away if you don't grab it.

I've found in crypto this idea is more relevant than it may be in forex to a certain degree. You may buy a coin and after a short time find yourself up 10% or 20% because surges up or down 10%-20% in a couple days is pretty common it seems. Many of them correlate as well meaning they almost all go up and down together.

It's exciting because that type of return is good in the financial world but you may not be satisfied with that, you want the big return, the 100%, 200%, 1000% and to the moooooooooooon! You feed on the greed but then the price action goes back down so the 20% of 'floating profit' is gone, you're back to break even or worse, down a bit.

If we pass up the 20% looking for the 100% or more it may never come and the 20% can float away....because it's floating profit, not realized. Sure, f you want to still be in the game for the moon shot then leave something on the table. I typically scale in and scale out of positions, I rarely push all in or pull all out at once.

On the other side maybe you bought a coin and you didn't use the wisest of technical analysis, it had gone up 20% in a couple days before you got in and you thought you were going to ride a trend up all the way to the mooooooooon! You pushed all in at once and then it goes back down so you're sitting on 20% floating loss.

It's hard to not feed on the fear and pull out so not to 'lose' any more than that....except all you did was take floating loss and turn it into realized loss. It's over, that's a loss and if it bounces back up after a few weeks you are out, you lose...good day sir! That is probably a worse feeling than the loss itself seeing it bounce back.

Every trader has a different strategy, different tolerance for risk, different goals so I can't say to anyone you should be or shouldn't be doing this or that, don't go all in or don't pull out but instead have a clear idea of what these are for you. Know your goals, know the market you are trading and the instrument(s) you are working with.

Crypto does appear to have a platform to be able to pull out relatively consistent gains for someone who has a plan and patience to work it. I've realized over 40% gain in around 4 months and to compare that to my forex account I have about 20% gain in that same time span.

It takes some understanding and some attention but with trading apps in the palm of our hands we can be doing something else like our regular day job surviving and still working our accounts slowly building them up to a point that we may be able to trade full time and pay the bills off of it eventually....or even more, living large off it.

this is the correct mentality if you want to almost guarantee to be wealthy.

if you have done your research, and you truly believe in whatever asset you're trying to buy, you should buy more of whatever it is when it goes down rather than panic sell.


problem is, a lot of people don't do their research; they blindly put into whatever the hot thing is. there are ETFs/index funds that are essentially guaranteed to go up, in the long run, because they invest in the entire stock market (VTI/SCHB - my main holding; VXUS - international whole market).


your post is something almost all investors, and those who want to be wealthy in the long run, should read.

[stuporman]

I really don't know what types of strategies other traders use but in the few months I have been following the crypto market and with the modest sized account I opened to try it out I have found a few different ways to pull some gains out of the price action going on.

..............................

It takes some understanding and some attention but with trading apps in the palm of our hands we can be doing something else like our regular day job surviving and still working our accounts slowly building them up to a point that we may be able to trade full time and pay the bills off of it eventually....or even more, living large off it.

this is the correct mentality if you want to almost guarantee to be wealthy.

if you have done your research, and you truly believe in whatever asset you're trying to buy, you should buy more of whatever it is when it goes down rather than panic sell.


problem is, a lot of people don't do their research; they blindly put into whatever the hot thing is. there are ETFs/index funds that are essentially guaranteed to go up, in the long run, because they invest in the entire stock market (VTI/SCHB - my main holding; VXUS - international whole market).


your post is something almost all investors, and those who want to be wealthy in the long run, should read.

I appreciate the kind words and while I don't know that I have any particular insight into the wealthy mindset I can say I have learned a few things about trading psychology and price action.

To be fair I don't do any research, sure I have my ears to the news for any significant influences and am aware of the report releases and fed days which effect markets but research is the fundamental trader's game, I'm a technical trader.

I look at price action and read the resulting charts it makes, I use a few basic indicators to encapsulate the data so it's clear to see at a glance and consider the probabilities of price action direction taking my chance with what I guesstimate.

I use some simple strategies that don't involve alot of 'if' and 'then' restrictions but trade according to my personal strategy rules and let the market do it's thing. It's going to do what it will do so sometimes I get it wrong and I move on to the next opportunity because there's always new ones.

So to be quite honest I don't have any particular allegiance to any indicator I trade or any faith in it either. Whether it's crypto currency or forex currency it's all shytcoins to me, it's trading bullshyt for dogshyt and back again hoping I get a little shyt out of it for myself.

All this bouncing price action and it's volatility gives us opportunity to squeeze out some profit so if a trader is diligent and consistent in their efforts it can yield positive results.

[br7knicks]

I really don't know what types of strategies other traders use but in the few months I have been following the crypto market and with the modest sized account I opened to try it out I have found a few different ways to pull some gains out of the price action going on.

..............................

It takes some understanding and some attention but with trading apps in the palm of our hands we can be doing something else like our regular day job surviving and still working our accounts slowly building them up to a point that we may be able to trade full time and pay the bills off of it eventually....or even more, living large off it.

this is the correct mentality if you want to almost guarantee to be wealthy.

if you have done your research, and you truly believe in whatever asset you're trying to buy, you should buy more of whatever it is when it goes down rather than panic sell.


problem is, a lot of people don't do their research; they blindly put into whatever the hot thing is. there are ETFs/index funds that are essentially guaranteed to go up, in the long run, because they invest in the entire stock market (VTI/SCHB - my main holding; VXUS - international whole market).


your post is something almost all investors, and those who want to be wealthy in the long run, should read.

I appreciate the kind words and while I don't know that I have any particular insight into the wealthy mindset I can say I have learned a few things about trading psychology and price action.

To be fair I don't do any research, sure I have my ears to the news for any significant influences and am aware of the report releases and fed days which effect markets but research is the fundamental trader's game, I'm a technical trader.

I look at price action and read the resulting charts it makes, I use a few basic indicators to encapsulate the data so it's clear to see at a glance and consider the probabilities of price action direction taking my chance with what I guesstimate.

I use some simple strategies that don't involve alot of 'if' and 'then' restrictions but trade according to my personal strategy rules and let the market do it's thing. It's going to do what it will do so sometimes I get it wrong and I move on to the next opportunity because there's always new ones.

So to be quite honest I don't have any particular allegiance to any indicator I trade or any faith in it either. Whether it's crypto currency or forex currency it's all shytcoins to me, it's trading bullshyt for dogshyt and back again hoping I get a little shyt out of it for myself.

All this bouncing price action and it's volatility gives us opportunity to squeeze out some profit so if a trader is diligent and consistent in their efforts it can yield positive results.

I got ya. That is a different game than what I'm used to.


I'm an old school investor, in it for the long game.


I do use some money for play/riskier stuff. Been trying leveraged ETFs, to try to gain more.

[knickabocker88]

Going to ride it out, will buy some VOO here and there over the next few months to DCA. Going to pay off some debt & increase deposits in the HYSA.

2 more .50 rate hikes (May & June) and then hopefully the bleeding stops for the second half or the year.

[knickabocker88]

Also since BTC seems to be linked to the Nasdaq and S&P ... BTC in the mid 20k range wouldn't surprise me.

[stuporman]

this is the correct mentality if you want to almost guarantee to be wealthy.

if you have done your research, and you truly believe in whatever asset you're trying to buy, you should buy more of whatever it is when it goes down rather than panic sell.


problem is, a lot of people don't do their research; they blindly put into whatever the hot thing is. there are ETFs/index funds that are essentially guaranteed to go up, in the long run, because they invest in the entire stock market (VTI/SCHB - my main holding; VXUS - international whole market).


your post is something almost all investors, and those who want to be wealthy in the long run, should read.

I appreciate the kind words and while I don't know that I have any particular insight into the wealthy mindset I can say I have learned a few things about trading psychology and price action.

To be fair I don't do any research, sure I have my ears to the news for any significant influences and am aware of the report releases and fed days which effect markets but research is the fundamental trader's game, I'm a technical trader.

I look at price action and read the resulting charts it makes, I use a few basic indicators to encapsulate the data so it's clear to see at a glance and consider the probabilities of price action direction taking my chance with what I guesstimate.

I use some simple strategies that don't involve alot of 'if' and 'then' restrictions but trade according to my personal strategy rules and let the market do it's thing. It's going to do what it will do so sometimes I get it wrong and I move on to the next opportunity because there's always new ones.

So to be quite honest I don't have any particular allegiance to any indicator I trade or any faith in it either. Whether it's crypto currency or forex currency it's all shytcoins to me, it's trading bullshyt for dogshyt and back again hoping I get a little shyt out of it for myself.

All this bouncing price action and it's volatility gives us opportunity to squeeze out some profit so if a trader is diligent and consistent in their efforts it can yield positive results.

I got ya. That is a different game than what I'm used to.


I'm an old school investor, in it for the long game.


I do use some money for play/riskier stuff. Been trying leveraged ETFs, to try to gain more.

Most of the more traditional traders think of currencies as riskier but the truth is we are all speculating, The fact that forex is leveraged only means you need less margin to secure the positions and it is not any more riskier if one manages the risk well. There are plenty of tools and methods to do so.

One of the advantages of forex is there is no down market, with the stock market when it crashes virtually everything goes down. With forex a price going down only means the secondary currency in the pair is gaining strength against the primary, there's always gains to be found no matter what the economy as a whole is doing.

In stocks shorting has some negative connotation because you are betting against other traders and are actually using their stock to devalue their holdings. In forex shorting is simply speculating one currency is going to gain value against another. When I short the EUR/USD pair and the USD gets stronger I'm generating gains.

That's one of the drawbacks of crypto, I haven't found a way to short a pair unless there's certain brokers that allow it I'm not aware of and this might be the case, I'm a novice in this market. I don't know of a way to short the BTC/USD pair so it's only buy crypto and make gains if the price goes up, it's limited compared to forex.

Another benefit to forex is that there is so much institutional activity with banks and businesses having to exchange currencies to do there business there is a natural but more predictable volatility inherent in the market so a little fish like me has plenty of opportunity to feed. Each of the markets have advantages and disadvantages.

There sure are alot of ways to speculate in the economy and the only one that is the 'right' or 'good' one is the one that works for us.

[Maury2423]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

[NYKinMIA]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

IMHO, pay off that awful loan, then take that $170 that went to payments and whatever else you can possibly afford, and start DCAing back into crypto weekly, immediately. Signs point to more downside in crypto at the moment, but when it does come back it's pumping hard.

Again, just my opinion bruh. I could be completely wrong. Hopefully others here can chime in.
Sincere good luck, whatever you decide.

[NYKinMIA]

I really don't know what types of strategies other traders use but in the few months I have been following the crypto market and with the modest sized account I opened to try it out I have found a few different ways to pull some gains out of the price action going on.

Using some of the principles I already employ in trading the forex market it seems that a trader could make some relatively consistent profits if they can manage the two emotions that are the bane of all traders., fear and greed. It's a balance of patience and action.

One way I put it is will you pass up the 20 looking for the 100? Meaning, if you're walking along the street and see a $20 bill laying on the ground are you going to pass it up because it might turn into a $100 bill down the road? There's no guarantee it will and it unlikely it ever will and that smaller gain can blow away if you don't grab it.

I've found in crypto this idea is more relevant than it may be in forex to a certain degree. You may buy a coin and after a short time find yourself up 10% or 20% because surges up or down 10%-20% in a couple days is pretty common it seems. Many of them correlate as well meaning they almost all go up and down together.

It's exciting because that type of return is good in the financial world but you may not be satisfied with that, you want the big return, the 100%, 200%, 1000% and to the moooooooooooon! You feed on the greed but then the price action goes back down so the 20% of 'floating profit' is gone, you're back to break even or worse, down a bit.

If we pass up the 20% looking for the 100% or more it may never come and the 20% can float away....because it's floating profit, not realized. Sure, f you want to still be in the game for the moon shot then leave something on the table. I typically scale in and scale out of positions, I rarely push all in or pull all out at once.

On the other side maybe you bought a coin and you didn't use the wisest of technical analysis, it had gone up 20% in a couple days before you got in and you thought you were going to ride a trend up all the way to the mooooooooon! You pushed all in at once and then it goes back down so you're sitting on 20% floating loss.

It's hard to not feed on the fear and pull out so not to 'lose' any more than that....except all you did was take floating loss and turn it into realized loss. It's over, that's a loss and if it bounces back up after a few weeks you are out, you lose...good day sir! That is probably a worse feeling than the loss itself seeing it bounce back.

Every trader has a different strategy, different tolerance for risk, different goals so I can't say to anyone you should be or shouldn't be doing this or that, don't go all in or don't pull out but instead have a clear idea of what these are for you. Know your goals, know the market you are trading and the instrument(s) you are working with.

Crypto does appear to have a platform to be able to pull out relatively consistent gains for someone who has a plan and patience to work it. I've realized over 40% gain in around 4 months and to compare that to my forex account I have about 20% gain in that same time span.

It takes some understanding and some attention but with trading apps in the palm of our hands we can be doing something else like our regular day job surviving and still working our accounts slowly building them up to a point that we may be able to trade full time and pay the bills off of it eventually....or even more, living large off it.

You are 100% correct. I've been learning TA for the past few months and have made a few nice little scalps in the crypto market. The money IS there if you can find some edge that works for you and stay grounded to your system and have the right mindset, as you mentioned, and work. I'm transitiong to trading full-time because I've become very passionate about it all, I fuqing love it.

[NYKinMIA]

Most of the more traditional traders think of currencies as riskier, but the truth is we are all speculating, The fact that forex is leveraged only means you need less margin to secure the positions and it is not any more riskier if one manages the risk well. There are plenty of tools and methods to do so.

One of the advantages of forex is there is no down market, with the stock market when it crashes virtually everything goes down. With forex a price going down only means the secondary currency in the pair is gaining strength against the primary, there's always gains to be found no matter what the economy as a whole is doing.

In stocks shorting has some negative connotation because you are betting against other traders and are actually using their stock to devalue their holdings. In forex shorting is simply speculating one currency is going to gain value against another. When I short the EUR/USD pair and the USD gets stronger I'm generating gains.

That's one of the drawbacks of crypto, I haven't found a way to short a pair unless there's certain brokers that allow it I'm not aware of and this might be the case, I'm a novice in this market. I don't know of a way to short the BTC/USD pair so it's only buy crypto and make gains if the price goes up, it's limited compared to forex.

Another benefit to forex is that there is so much institutional activity with banks and businesses having to exchange currencies to do there business there is a natural but more predictable volatility inherent in the market so a little fish like me has plenty of opportunity to feed. Each of the markets have advantages and disadvantages.

There sure are alot of ways to speculate in the economy and the only one that is the 'right' or 'good' one is the one that works for us.

I got you homie. They became fully compliant and legal in the US recently and are super easy to use.

Leveraged longs and shorts, both standard and perpetual futures on a ton of crypto pairs. AND you can paper trade to practice your systems before committing capital.

This place is the shyt imho, the only place I trade.

https://bingx.com/invite/N0XWIA
Everybody can to use the link to signup free, and you'd be looking me out too fams.

[N Y K]

Also since BTC seems to be linked to the Nasdaq and S&P ... BTC in the mid 20k range wouldn't surprise me.

don't you love correlated assets?

[N Y K]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

IMHO, pay off that awful loan, then take that $170 that went to payments and whatever else you can possibly afford, and start DCAing back into crypto weekly, immediately. Signs point to more downside in crypto at the moment, but when it does come back it's pumping hard.

Again, just my opinion bruh. I could be completely wrong. Hopefully others here can chime in.
Sincere good luck, whatever you decide.

25%?! +1 for pay the loan.

[HighRyzer83]

**** gonna be on discount soon. bought 150 more QYLD this past week

Hell yeah. I've been thinking about throwing a whole bunch into IRA so not to pay the tax on div. What do you think about ryld?

[br7knicks]

**** gonna be on discount soon. bought 150 more QYLD this past week

Hell yeah. I've been thinking about throwing a whole bunch into IRA so not to pay the tax on div. What do you think about ryld?

ryld is the better one. qyld is more affordable. they say xyld is the best one, but i have none of that

i have 300 RYLD. have a limit order to buy 100 more if it goes below $22. it's round ~$22.15 now, i believe.


smart move putting it into IRA. i'm in the process of buying a rental property, so i just want my dividend portfolio to be liquid as possible.


i have 1500 USOI. i believe it's riskier. i'm not 100% sure of the tax implications, or the risk, but its yield is around ~25%

https://www.nasdaq.com/market-activity/funds-and-etfs/usoi/dividend-history

the $.196 per share this last time around felt nice to my dividend reinvestment. grabbed 50 more this past month. should've waited for the dip.

i have a limit order on this one as well, when it gets below $5.00

[Starks]

Who here is in NFTs? What are you guys holding?