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Cavalier Crypto 101 (1 Viewer)
- Thread starter IC FBGCav
- Start date
JerseyToughGuys
Tough Guy
IC FBGCav
Footballguy
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shader
Footballguy
Pretty interesting. The last time when I was seriously considering Bitcoin, it was around the 6-7k mark. I missed the whole rally and now the "epic collapse" back to 6-7k.
There's really two reasons why I've never been able to pull the trigger.
My worry is that it takes so long to sell out of a position. If things go south in a stock, you sell it. It's simple. But in Bitcoin it takes too long to sell out of your position.
Second, you still can't do anything with it, which screams ponzi scheme. In the future when looking back on it, will everyone wonder how in the world we could all be so dumb? I mean, is a currency a currency if hardly anyone accepts payment with it?
All that being said, if you are bullish on crypto currencies, you really have to be excited about this pullback. When fear takes over, that's when the sharks jump in and grab stuff at a deep discount.
There's really two reasons why I've never been able to pull the trigger.
My worry is that it takes so long to sell out of a position. If things go south in a stock, you sell it. It's simple. But in Bitcoin it takes too long to sell out of your position.
Second, you still can't do anything with it, which screams ponzi scheme. In the future when looking back on it, will everyone wonder how in the world we could all be so dumb? I mean, is a currency a currency if hardly anyone accepts payment with it?
All that being said, if you are bullish on crypto currencies, you really have to be excited about this pullback. When fear takes over, that's when the sharks jump in and grab stuff at a deep discount.
BroncoFreak_2K3
sucker for Orange
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IC FBGCav
Footballguy
This is great. If you like highs and lows, no better space. Hold my beer while I jump off this ledge.
I wish I stole all your money. Not now, about a month ago.
Premier
Footballguy
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ILUVBEER99
Footballguy
Definitely good to step back and have some perspective.
I was super happy when BTC first hit 5k in the fall. Then got a bit bummed seeing it below 10k over the past week.
Been through the same with stocks but there is always that loss of perspective at times. I woulda been doing flips if someone told me a year after buying at 1k a coin that we would be at 7k+ 10-11 months later.
Jefferson the Caregiver
Rebel Without A Pause
Might be a good time for another round of funding. In for a share for sure.
IC FBGCav
Footballguy
I am all for it. Only people in group 101 can be in and a sub group, meaning group 101 and 202 are different.
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Jefferson the Caregiver
Rebel Without A Pause
Don't Noonan
Footballguy
This has been fun to follow but the volatility is nuts. Pretty sure this is going to zero.
Frostillicus
Footballguy
Megaton
Footballguy
I think the way to play these crypto's is day trading. If you look for good opportunity and set modest goals you should be able to kill it. This is my plan to make a million this year:
- Start with about $4k
- Set modest Target of each trading day of make 3 percent.
- Set limits to daily losses of 2 percent and the calling it a day. If it is clearly a bear market, just sit it out.
- If I can net 200 winning days out of the next 325 days, I will have well over $1,000,000, even after taxes.
No real experience in day trading. Will be most watching the moving averages and looking for bullish ones at good buy points. Will mostly concentrate on bigger ones (ETH, NEO) which have good volume and trade quickly and have strong upside. The key will be to be patient for good spots and cut losses quickly.
- Start with about $4k
- Set modest Target of each trading day of make 3 percent.
- Set limits to daily losses of 2 percent and the calling it a day. If it is clearly a bear market, just sit it out.
- If I can net 200 winning days out of the next 325 days, I will have well over $1,000,000, even after taxes.
No real experience in day trading. Will be most watching the moving averages and looking for bullish ones at good buy points. Will mostly concentrate on bigger ones (ETH, NEO) which have good volume and trade quickly and have strong upside. The key will be to be patient for good spots and cut losses quickly.
Sputnikv8
Footballguy
Uh... I don't have any skin in the Cav's 101, but... pretty sure that is what he is doing.
Megaton
Footballguy
He is not really day trading. I will get in and out of a trade in maybe 5 minutes or at most a couple hours. I will not have a dozen stocks. I will be looking for a few small gains in a given day. This is not a buy and hold strategy.Uh... I don't have any skin in the Cav's 101, but... pretty sure that is what he is doing.
popeye
Footballguy
Wait - did you actually send Cav money? 'Cause the rest of us were just kidding around.
Premier
Footballguy
Borden
Footballguy
I’m not a stock market guy at all but your math seems off. Only if you hit 200 consecutive days of 3% interest and are reinvesting 100% every time (nothing lost to fees and such either) then you’ll get to $1,477,423.26. And 200 consecutive days of gains is even crazier when you consider the situation you’re trying to play out.
That you have a more probable lower sell tolerance so, the sell outcome is more likely happen to when you’ve lost 2% than when you’ve made 3%. And that’s just assuming that it’s balanced. Youre asking for an above average result (200/325) from a below average position (selling at 2% down vs 3% up).
fantasycurse42
Footballguy Jr.
That post is pretty difficult to top; the perfect marriage of insanity, delusion, oblivious, irrational, etc..
I don’t even know where to start, but I guess a good place would be turning $4k into $1MM in a year, after taxes nonetheless, quite impressive.
I could probably write a 12 page response and dissect it sentence by sentence, but instead, I’ll wish that poster good luck achieving his 25,000% annual gain (oh wait, that would be pretax), which is equivalent to 25x Amazon gains in the last 10 years... Bravo for quite possibly the most irrational crypto post I’ve ever read, pretty incredible sitting at the top of that list.
fantasycurse42
Footballguy Jr.
Honestly, I’ve suspected it, but are you CSTU? I can’t speak for others, but I’ll forgive the $700 debt on that post alone, just admit it!
Megaton
Footballguy
Megaton
Footballguy
No I do not need to win 200 consecutive days. I need to net 200 winning days out of the next 325 to be there at Dec. 31, 2018. Not realistic, but I wanted to map out what it would take making smaller achievable goals to achieve a huge goal. A 3 percent winning day is achievable, now I have to see how consistently I can do it. Limiting it to a 2 percent loss because that pretty much cancels out one winning day, so if I have 250 winning days and 50 losing days, I would have netted 200 winning days.
So far:
Start: $4600
Day 1: $4838 (Win +5.17%)
Day 2: $4836 (Null)
Current Day: $4977 (+2.87%)
Megaton
Footballguy
I will later. RIght now NEO is on a bit of a run and I am all in on it. Started at $102 and now it is over $108. Will easily make my daily quota. If it is a good day, I will push it. Hopefully, I do not give it back.
Zegras11
Footballguy
Megaton
Footballguy
General Malaise
Footballguy
Megaton
Footballguy
Crypto's fund will do fine once the market turns. Being responsible for other people's money would impact my choices. If I go down with my own money, no biggie. I am not sure how well my style will scale with larger funds. Most of the smaller funds are already too difficult to day trade because there is not enough volume.
McGarnicle
Footballguy
I've been working this can't-miss sports betting system where I double my wager with every loss so it's impossible to lose money in the long run. Ran into a bit of a hiccup waiting for this home equity loan to close, but so far so good.
General Malaise
Footballguy
Megaton
Footballguy
The big difference is on a sports bet, the odds do not favor you winning. Assuming crypto is in a bull market that may rise 400% this year from these levels, there will be tons of opportunities to win at a higher than average rate.
Meanwhile, my NEO play which started at $102 is now at $111.
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jamny
Footballguy
Megaton
Footballguy
Megaton
Footballguy
Wonderful. Really enjoying my time off.
Need to learn how to play these peaks better. Should have scalped some at the top instead of getting scalped. The current price had gotten too far away from the 5 min Moving Average (7) which was also too far away from the Moving Average (25), should have seen a major pull back coming and sold out half of my position. Instead the market fell from $111 to $107 in a matter of a minute and over third of my gain was out the window. If I sold I would have banked that gain and been able to buy back at the lower price. Still bullish on NEO for the day, but missed a nice opportunity. May call it a day as it looks like it is head down towards MA (99) which may take several hours.
Fightin Donkey
Footballguy
I can't put my finger on it, but this is either Emm, or Rok.
So funny every time they use another alias, it's so easy to spot them.
Peyton Marino
Footballguy
If my notebook is right, he's a fairly inconspicuous poster (not em or cstu or anyone like that) and is a part of the original buy-in pool in this thread. I won't out him in case he wants to stay under the radar.
Zegras11
Footballguy
