those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
We are at the low's I was looking for. Time for me to start easing back into ETH until I see enough strength that once again calls for "all in."
You've been "all in" for decades. He's a J̵u̵k̵e̵ ̵b̵o̵x̵ internet investment perfect timing hero. lol
simply feeding you and the other trolls with a trading blow by blow that you asked for. And yes, normally I'm either all in or all out with cryptos. LOL.
I saw various expert talkers this week say It's going to a million while others said it's going to zero as the biggest pyramid scheme ever.
Then one guy who said bitcoin is the best thing ever also said that NFT's are the worst thing ever.
In the grand scheme of things it probably doesn't matter because it looks like we are heading to life that will be a mixture of two movies, Idiocracy and A Clockwork Orange.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
2022
I believe that we will see a return to sanity in valuations. Stock market and bitponzi are just plain overvalued. If you believe logically. Eventually logic returns and brings sanity.
Gold is undervalued. Whether it moves or not is anybody's guess. If you believe gold is 'cheap', then ms65 Saints are really cheap.
Looks like recent little crypto bounce may not be holding. If BTC and ETH breech recent support, how low will they go? ADA is one of the few bucking the trend.
@RobM said:
Looks like recent little crypto bounce may not be holding. If BTC and ETH breech recent support, how low will they go? ADA is one of the few bucking the trend.
We've seen bitcoin go lower over the years only to respond with higher highs. Different this time? I think not.
@derryb said:
And it went up nicely after dropping those chips. My cash is now looking for the next entry point. Gotta learn to play the volatility comrade.
Ponzi indeed. That's why you constantly take profits. I've bought and sold many, many times since ETH was <$500.
That's the only way to play the crypto & PM market.......We finally agree on something.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
The stable coins I transferred into is just waiting for a bottom. My staking is earning $100/day and my mining is near $50/day. Setting up an AI bot on Kucoin for some trading action there when the bulls run. When the next cycle peaks and if it's close to the last in terms of gains, I'll be entering the seven-figure zone. BEST PONZI EVER!!
When I realized I'd missed a great opportunity for the second time due to just a plain lack of understanding of what a transparent pier-to-pier zero middle man transaction really meant, my quest to resume mining began again. When I first started mining eight-plus years ago I was earning 0.1 btc/day. (I did that for a year) I did it for the sole reason to increase my power bill thus allowing me a larger on-grid solar system. Btc went up and I sold, bought my system, then btc crashed and my weak hands cashed out believing the FUD. A year or two later btc hits 20k and I remember I've got 0.03 btc on some hard drive out in the garage. Finding that lost btc was the seed money for my current situation.
I really learned a lot from working with a stock trading simulator. If you want a little chuckle go to the Investopedia simulator long-term play and look up standings for aba66tbird. I started over ten years ago with 100k in play money. Lost almost 90% the first year because I had a very utopianistic view of how money should work. Then I learned how it does work and how to research. I haven't made a trade there in a year or two because I'm into btc, but the number makes me laugh and cry at the same time.
@Higashiyama said:
I would challenge anyone who thinks they can market time bitcoin to post their transactions on this thread.
I'm doing well buying low and selling high. It's not a matter of timing - it's a matter of taking nice profits off the table and waiting for the next volatile drop to get back in. As long as cryptos continue their long term upward trend, this will payoff. Money can be made trading the bumps in the road.
For a while I was posting my moves but it's not worth the doubt, sarcasm and criticism from a limited number of members. From now on specifics on my trades will remain my business.
My only advice to those who want to trade is this:
Cryptos are volatile (provide great speculative opportunity) and trade 24/7.
Cryptos are a purely speculative trade. There is no underlying value, only what people will pay. As long as the buyers outnumber the sellers more often than not there is money to be made. This can and will change at some point. Investments have to be closely monitored. Money that is made easy can be easily lost.
I prefer to limit my trading to a crypto that has a strong market cap and has proven it always bounces back. ETH is my preference. BTC works but I see ETH making better long term gains. But always be aware that at some point they will not bounce back.
Don't concern yourself with timing highs and lows Because of their volatility there are multiple opportunities to trade either side. Just pick one that gives you nice profits or gives you an opportunity to get back in at a much lower price.
Use the charts to see the trend and to see if a reversal is panning out. Trade the reversals when they show you momentum.
There are many trading platforms, I use Robinhood, Kraken and Paypal. My order of preference is PP first, then RH, then Kraken
Keep good records. For now you are own your own until the exchanges are required to send you tax forms - and they will be. For recording keeping ease keep your trades simple. No problem building a position with multiple buys but sell them all at once.
Sees $220K Bitcoin this year, dumping his gold and silver.
Hmm...
That might be the strongest contrarian indicator in quite some time ?
That didn't take long ...
The year is quite, quite young. As with many asset classes, speculators are moving to cash waiting to see if the FED will walk the talk. At best the rate of inflation will slow, it will not decline. Buying opportunity dead ahead. A reversal to the slow rise in gold will be the indicator.
@derryb said:
Crypto bottom? Dropping my chips on it. As always with ETH.
So, how much of a beating have you taken so far?
I agree with the statement: b.c. is the biggest pyramid scheme ever invented.
@derryb said:
And it went up nicely after dropping those chips. My cash is now looking for the next entry point. Gotta learn to play the volatility comrade.
Ponzi indeed. That's why you constantly take profits. I've bought and sold many, many times since ETH was <$500.
Wait, you said on Jan 9th you were dropping your chips on ETH, now you're saying it went up nicely and your cash is now looking for the next entry point? Seems you're having trouble keeping the story straight. Wonder why? lol
@derryb said:
Crypto bottom? Dropping my chips on it. As always with ETH.
So, how much of a beating have you taken so far?
I agree with the statement: b.c. is the biggest pyramid scheme ever invented.
@derryb said:
And it went up nicely after dropping those chips. My cash is now looking for the next entry point. Gotta learn to play the volatility comrade.
Ponzi indeed. That's why you constantly take profits. I've bought and sold many, many times since ETH was <$500.
Wait, you said on Jan 9th you were dropping your chips on ETH, now you're saying it went up nicely and your cash is now looking for the next entry point? Seems you're having trouble keeping the story straight. Wonder why? lol
Consider the possibility that after Jan. 9th (when I bought below 3100, as I said I would do) ETH climbed to over 3350 (which it did) and I sold the ETH (which I did). Now I'm sitting in cash looking for the next entry. Sorry I didn't inform you of the last sale - you are the very reason I stopped posting specific trades. If you spent as much effort studying and trading cryptos as you do trying to find holes in my success, you would have made a lot of money. Probably nowhere near what I have made but still some decent money.
As I have stated numerous times there is success in cryptos by taking nice profits off the table when they present themselves. Your obsession with trying to prove me a liar is interfering with the time that could be spent studying and profiting with cryptos. Same goes with your obsession concerning my silver trading. Stop trolling and make yourself some money.
@derryb said:
Crypto bottom? Dropping my chips on it. As always with ETH.
So, how much of a beating have you taken so far?
I agree with the statement: b.c. is the biggest pyramid scheme ever invented.
@derryb said:
And it went up nicely after dropping those chips. My cash is now looking for the next entry point. Gotta learn to play the volatility comrade.
Ponzi indeed. That's why you constantly take profits. I've bought and sold many, many times since ETH was <$500.
Wait, you said on Jan 9th you were dropping your chips on ETH, now you're saying it went up nicely and your cash is now looking for the next entry point? Seems you're having trouble keeping the story straight. Wonder why? lol
Consider the possibility that after Jan. 9th (when I bought below 3100, as I said I would do) ETH climbed to over 3350 (which it did) and I sold the ETH (which I did). Now I'm sitting in cash looking for the next entry.
Oh yes of course, timed it perfectly yet again. You seem to want to tell us every other time you "make" money. LOL what a fraud.
LOL, what a troll. I don't claim to time it perfect. I claim to make money selling higher than I bought and only to show you crypto naysayers that there is opportunity. Not hard to do with a volatile investment on a long term upward trend. As always your volatility is equally predictable, but apparently on a long term downward trend. Take some aspirin and call me in the morning.
PS: when/if it is established that this is currently not THE crash you might want to also have your cash ready.
@derryb said:
LOL, what a troll. I don't claim to time it perfect. I claim to make money selling higher than I bought and only to show you crypto naysayers that there is opportunity. Not hard to do with a volatile investment on a long term upward trend. As always your volatility is equally predictable, but apparently on a long term downward trend. Take some aspirin and call me in the morning.
PS: when/if it is established that this is currently not THE crash you might want to also have your cash ready.
Whatever you say Ace. First you got caught holding the gutter bag and now this. RGDS!
@derryb said:
(apologies to all, but he did call me a liar.)
yes, the gutter bag is very full. . .
LOL I was waiting for the picture of your little safe with a few monster boxes. Maybe you will finally break even by the next decade. You probably need about $80ozt to break even by now (inflation adjusted). I'm changing you from Ace to O'fer. RGDS!
Don't worry about my needs, got 'em covered. Worry about reaching maturity. Took a while but I figured out who you are. Sorry you had to create a different account to come back. You got banned trying to provoke me in your previous life - just a matter of time before you do it again. RGDS lol
For the record I've had one and only one user ID / account in my 7 years on this forum. You however, well never mind. BTW looks like BTC is headed higher. Did you remember to get back in? lol
@blitzdude said:
For the record I've had one and only one user ID / account in my 7 years on this forum.
But we're to take your word? lol
BTW looks like BTC is headed higher. Did you remember to get back in? lol
i remembered not to discuss my trades with you.
For the benefit of those who come here to simply discuss PMs, how about you just troll me with PMs. That way we don't bother others and you can make a fool of yourself to only me.
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
UVXY hit $20.81, so assuming you went all in on the day derryb first mentioned it, you would be up 10% in just over a month. Not a bad return. Had you bought on the day of your post, you would be up 60%... Of course the daily ups and downs will make you experience daily (or hourly) bouts of euphoria and dread...
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
UVXY hit $20.81, so assuming you went all in on the day derryb first mentioned it, you would be up 10% in just over a month. Not a bad return. Had you bought on the day of your post, you would be up 60%... Of course the daily ups and downs will make you experience daily (or hourly) bouts of euphoria and dread...
while I expect UVXY to continue, I believe ETH is about to outperfrom, so I took the UVXY profits off the table for now and put my toes back in the ETH waters with that account. Premature to say the ETH will continue up, but if it does I got an good entry point. When/if ETH provides some profits in that trading account I will move them back to UVXY. This equities decline should will create some good UVXY momentum if the decline sticks.
UVXY hit $20.81, so assuming you went all in on the day derryb first mentioned it, you would be up 10% in just over a month. Not a bad return. Had you bought on the day of your post, you would be up 60%... Of course the daily ups and downs will make you experience daily (or hourly) bouts of euphoria and dread...
Nope. But actually, derryb first mentioned owning UVXY (said it was in his "bull pen") on February 21, 2021. Also said he was still holding from when I made the comment about UVXY back in Dec 2021. Now, obviously, derryb no longer owned any of those shares from Feb 2021. But there would not have been any real opportunities to get out without losses, since UVXY is currently worth around 20% of what it was then as volatility was waning as markets steadily went up. Besides, suggesting recent buys of ETH at 3800 and 3100, any gains in the rapidly decaying (leveraged) UVXY are completely negated by the crypto crash. Trades in UVXY are only greatly profitable if you buy within days of the crash, and sell before it is over. That is by definition, purely market timing, something that derryb says he does not engage in.
I expect Mr PhD from Wharton to come on here at any time to troll and give guidance on stacking oats. After all, he's stated he comes on to troll DB and give him a bad time.
Nope. But actually, derryb first mentioned owning UVXY (said it was in his "bull pen") on February 21, 2021. Also said he was still holding from when I made the comment about UVXY back in Dec 2021. Now, obviously, derryb no longer owned any of those shares from Feb 2021. But there would not have been any real opportunities to get out without losses, since UVXY is currently worth around 20% of what it was then as volatility was waning as markets steadily went up. Besides, suggesting recent buys of ETH at 3800 and 3100, any gains in the rapidly decaying (leveraged) UVXY are completely negated by the crypto crash. Trades in UVXY are only greatly profitable if you buy within days of the crash, and sell before it is over. That is by definition, purely market timing, something that derryb says he does not engage in.
Keep in mind that the troll reduced my posting of specific trades a while back. I have been slowly adding UVXY since last year. It is always in my bullpen as I have been expecting (an warning) a major equity meltdown. UVXY is where I want to be when those Wall St. traders start jumping out of windows.
I don't concern myself with UVXY decay; the gains I expect it to make in a market meltdown make them irrelevant to me. I dumped the UXVY mid morning to enter ETH in that trading account as I suspected (and so far today am correct) that ETH was on the move. When I do exit ETH in that account (monitoring it very closely) I will likely get back into UVXY until I see another ETH opportunity.
Normally I hold cash after an ETH exit, awaiting reentry, but with this specific trading account I like to dabble with UVXY when I see a rush from equities. Until a major equity market meltdown I expect ETH (when it is on the move up) to always provide better returns than UVXY.
DB,
I've never traded crypto. Doubt I ever will. Just not in my game plan.
In the last 47 years since I left my undergrad life, I've believed that you can learn something from everyone. When an unaccomplished troll comes here to belittle others and use this platform to ridicule people, it's time that troll shows himself the door.
OK. Then I would like to reiterate, respectfully, to all those that may be reading this thread: the high decay rate in a leveraged fund like UVXY will practically guarantee you lose money based on derryb's strategy of adding shares over the past year as stated. The VIX all time high is 82.69 on 16 March, 2020. If the VIX suddenly went there again within the next week or two, UVXY might get back to the the 80-100 range. In other words, another monumental stock market crash, and you come close to breaking even on your UVXY shares purchased the prior year. Any financial expert will tell you that leveraged funds should only be used for very short periods due to the decay rate. Don't believe me? The chart doesn't lie. Just sayin'.
I concur that UVXY decay rate has a serious affect on long term holding. However, for the past year I have been adding small increments knowing that an equity crash is ahead. When that crash hits, UVXY will explode. Keep in mind that
My point is I hope to be in position before the explosion. I can accept the decay in hopes that the explosion makes them irrelevant. As with ETH these are gambling funds. lol
Days like today (extreme volatility in many arenas) will continue as long as the Plunge Protection Team counters reverses what the markets dictate. Money to be made on volatility.
Comments
simply feeding you and the other trolls with a trading blow by blow that you asked for. And yes, normally I'm either all in or all out with cryptos. LOL.
Give Me Liberty or Give Me Debt
Crypto bottom? Dropping my chips on it. As always with ETH.
Give Me Liberty or Give Me Debt
Kazakh central bank suspends banking operations
National Bank of Kazakhstan announced that it was stopping all operations by banks, including ATM transactions.
No banking, nada since Jan 6. Also...
https://news.cgtn.com/news/2022-01-09/Kazakhstan-suspends-currency-exchange-services-in-banks-16GIkbOgFJS/index.html
https://en.wikipedia.org/wiki/Kazakhstan
https://www.cia.gov/the-world-factbook/countries/kazakhstan/
Knowledge is the enemy of fear
It seems like lately bitcoin is following the stock market down which would not fit in with their philosophy. Maybe just a short term co-inky-dink?
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
Max Keiser doubling down on Bitcoin.
Sees $220K Bitcoin this year, dumping his gold and silver.
Give Me Liberty or Give Me Debt
It's come full circle. Looks like the gutter claims another victim. Crazy planet!!!!
The whole worlds off its rocker, buy Gold™.
I saw various expert talkers this week say It's going to a million while others said it's going to zero as the biggest pyramid scheme ever.
Then one guy who said bitcoin is the best thing ever also said that NFT's are the worst thing ever.
In the grand scheme of things it probably doesn't matter because it looks like we are heading to life that will be a mixture of two movies, Idiocracy and A Clockwork Orange.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
Hmm...
That might be the strongest contrarian indicator in quite some time ?
2022
I believe that we will see a return to sanity in valuations. Stock market and bitponzi are just plain overvalued. If you believe logically. Eventually logic returns and brings sanity.
Gold is undervalued. Whether it moves or not is anybody's guess. If you believe gold is 'cheap', then ms65 Saints are really cheap.
Looks like recent little crypto bounce may not be holding. If BTC and ETH breech recent support, how low will they go? ADA is one of the few bucking the trend.
We've seen bitcoin go lower over the years only to respond with higher highs. Different this time? I think not.
Give Me Liberty or Give Me Debt
So, how much of a beating have you taken so far?
I agree with the statement: b.c. is the biggest pyramid scheme ever invented.
And it went up nicely after dropping those chips. My cash is now looking for the next entry point. Gotta learn to play the volatility comrade.
Ponzi indeed. That's why you constantly take profits. I've bought and sold many, many times since ETH was <$500.
Give Me Liberty or Give Me Debt
That's the only way to play the crypto & PM market.......We finally agree on something.
Ok, I'm going to steal your response.
Mpcusa on another fourm is always pumping up bitcon.
He's done well with it so far.
I'm not a player.
I would challenge anyone who thinks they can market time bitcoin to post their transactions on this thread.
The stable coins I transferred into is just waiting for a bottom. My staking is earning $100/day and my mining is near $50/day. Setting up an AI bot on Kucoin for some trading action there when the bulls run. When the next cycle peaks and if it's close to the last in terms of gains, I'll be entering the seven-figure zone. BEST PONZI EVER!!
When I realized I'd missed a great opportunity for the second time due to just a plain lack of understanding of what a transparent pier-to-pier zero middle man transaction really meant, my quest to resume mining began again. When I first started mining eight-plus years ago I was earning 0.1 btc/day. (I did that for a year) I did it for the sole reason to increase my power bill thus allowing me a larger on-grid solar system. Btc went up and I sold, bought my system, then btc crashed and my weak hands cashed out believing the FUD. A year or two later btc hits 20k and I remember I've got 0.03 btc on some hard drive out in the garage. Finding that lost btc was the seed money for my current situation.
I really learned a lot from working with a stock trading simulator. If you want a little chuckle go to the Investopedia simulator long-term play and look up standings for aba66tbird. I started over ten years ago with 100k in play money. Lost almost 90% the first year because I had a very utopianistic view of how money should work. Then I learned how it does work and how to research. I haven't made a trade there in a year or two because I'm into btc, but the number makes me laugh and cry at the same time.
I'm doing well buying low and selling high. It's not a matter of timing - it's a matter of taking nice profits off the table and waiting for the next volatile drop to get back in. As long as cryptos continue their long term upward trend, this will payoff. Money can be made trading the bumps in the road.
For a while I was posting my moves but it's not worth the doubt, sarcasm and criticism from a limited number of members. From now on specifics on my trades will remain my business.
My only advice to those who want to trade is this:
Give Me Liberty or Give Me Debt
That didn't take long ...
The year is quite, quite young. As with many asset classes, speculators are moving to cash waiting to see if the FED will walk the talk. At best the rate of inflation will slow, it will not decline. Buying opportunity dead ahead. A reversal to the slow rise in gold will be the indicator.
Give Me Liberty or Give Me Debt
Wait, you said on Jan 9th you were dropping your chips on ETH, now you're saying it went up nicely and your cash is now looking for the next entry point? Seems you're having trouble keeping the story straight. Wonder why? lol
The whole worlds off its rocker, buy Gold™.
When its hits $100,000 I will sell all of my coins.
Consider the possibility that after Jan. 9th (when I bought below 3100, as I said I would do) ETH climbed to over 3350 (which it did) and I sold the ETH (which I did). Now I'm sitting in cash looking for the next entry. Sorry I didn't inform you of the last sale - you are the very reason I stopped posting specific trades. If you spent as much effort studying and trading cryptos as you do trying to find holes in my success, you would have made a lot of money. Probably nowhere near what I have made but still some decent money.
As I have stated numerous times there is success in cryptos by taking nice profits off the table when they present themselves. Your obsession with trying to prove me a liar is interfering with the time that could be spent studying and profiting with cryptos. Same goes with your obsession concerning my silver trading. Stop trolling and make yourself some money.
Give Me Liberty or Give Me Debt
Oh yes of course, timed it perfectly yet again. You seem to want to tell us every other time you "make" money. LOL what a fraud.
The whole worlds off its rocker, buy Gold™.
LOL, what a troll. I don't claim to time it perfect. I claim to make money selling higher than I bought and only to show you crypto naysayers that there is opportunity. Not hard to do with a volatile investment on a long term upward trend. As always your volatility is equally predictable, but apparently on a long term downward trend. Take some aspirin and call me in the morning.
PS: when/if it is established that this is currently not THE crash you might want to also have your cash ready.
Give Me Liberty or Give Me Debt
Keep an eye on gold and it's continuing inverse relationship to cryptos. It might prove to be an indicator of a crypto reversal. time will tell.
Give Me Liberty or Give Me Debt
Whatever you say Ace. First you got caught holding the gutter bag and now this. RGDS!
The whole worlds off its rocker, buy Gold™.
yes, the gutter bag is very full. . .
. . . as are the six crypto cash bags waiting for re-entry. thanks for your concern. lol
Give Me Liberty or Give Me Debt
Blitz,
You stiffle discussion. Good riddance.
I like turtles.
LOL I was waiting for the picture of your little safe with a few monster boxes. Maybe you will finally break even by the next decade. You probably need about $80ozt to break even by now (inflation adjusted). I'm changing you from Ace to O'fer. RGDS!
The whole worlds off its rocker, buy Gold™.
Don't worry about my needs, got 'em covered. Worry about reaching maturity. Took a while but I figured out who you are. Sorry you had to create a different account to come back. You got banned trying to provoke me in your previous life - just a matter of time before you do it again. RGDS lol
Give Me Liberty or Give Me Debt
For the record I've had one and only one user ID / account in my 7 years on this forum. You however, well never mind. BTW looks like BTC is headed higher. Did you remember to get back in? lol
The whole worlds off its rocker, buy Gold™.
But we're to take your word? lol
i remembered not to discuss my trades with you.
For the benefit of those who come here to simply discuss PMs, how about you just troll me with PMs. That way we don't bother others and you can make a fool of yourself to only me.
Give Me Liberty or Give Me Debt
Is that a savage 94?
Knowledge is the enemy of fear
grandpa's very old single shot that he bought from the local 5 and 10 (remember those?).
Give Me Liberty or Give Me Debt
DB,
Imbalance of assets in the safe. You absolutely need more guns and ammo.
UVXY hit $20.81, so assuming you went all in on the day derryb first mentioned it, you would be up 10% in just over a month. Not a bad return. Had you bought on the day of your post, you would be up 60%... Of course the daily ups and downs will make you experience daily (or hourly) bouts of euphoria and dread...
the remainder are in easy access, strategic locations.
Ammo?
Give Me Liberty or Give Me Debt
while I expect UVXY to continue, I believe ETH is about to outperfrom, so I took the UVXY profits off the table for now and put my toes back in the ETH waters with that account. Premature to say the ETH will continue up, but if it does I got an good entry point. When/if ETH provides some profits in that trading account I will move them back to UVXY. This equities decline should will create some good UVXY momentum if the decline sticks.
Give Me Liberty or Give Me Debt
Nope. But actually, derryb first mentioned owning UVXY (said it was in his "bull pen") on February 21, 2021. Also said he was still holding from when I made the comment about UVXY back in Dec 2021. Now, obviously, derryb no longer owned any of those shares from Feb 2021. But there would not have been any real opportunities to get out without losses, since UVXY is currently worth around 20% of what it was then as volatility was waning as markets steadily went up. Besides, suggesting recent buys of ETH at 3800 and 3100, any gains in the rapidly decaying (leveraged) UVXY are completely negated by the crypto crash. Trades in UVXY are only greatly profitable if you buy within days of the crash, and sell before it is over. That is by definition, purely market timing, something that derryb says he does not engage in.
I expect Mr PhD from Wharton to come on here at any time to troll and give guidance on stacking oats. After all, he's stated he comes on to troll DB and give him a bad time.
Keep in mind that the troll reduced my posting of specific trades a while back. I have been slowly adding UVXY since last year. It is always in my bullpen as I have been expecting (an warning) a major equity meltdown. UVXY is where I want to be when those Wall St. traders start jumping out of windows.
I don't concern myself with UVXY decay; the gains I expect it to make in a market meltdown make them irrelevant to me. I dumped the UXVY mid morning to enter ETH in that trading account as I suspected (and so far today am correct) that ETH was on the move. When I do exit ETH in that account (monitoring it very closely) I will likely get back into UVXY until I see another ETH opportunity.
Normally I hold cash after an ETH exit, awaiting reentry, but with this specific trading account I like to dabble with UVXY when I see a rush from equities. Until a major equity market meltdown I expect ETH (when it is on the move up) to always provide better returns than UVXY.
Give Me Liberty or Give Me Debt
DB,
I've never traded crypto. Doubt I ever will. Just not in my game plan.
In the last 47 years since I left my undergrad life, I've believed that you can learn something from everyone. When an unaccomplished troll comes here to belittle others and use this platform to ridicule people, it's time that troll shows himself the door.
OK. Then I would like to reiterate, respectfully, to all those that may be reading this thread: the high decay rate in a leveraged fund like UVXY will practically guarantee you lose money based on derryb's strategy of adding shares over the past year as stated. The VIX all time high is 82.69 on 16 March, 2020. If the VIX suddenly went there again within the next week or two, UVXY might get back to the the 80-100 range. In other words, another monumental stock market crash, and you come close to breaking even on your UVXY shares purchased the prior year. Any financial expert will tell you that leveraged funds should only be used for very short periods due to the decay rate. Don't believe me? The chart doesn't lie. Just sayin'.
I concur that UVXY decay rate has a serious affect on long term holding. However, for the past year I have been adding small increments knowing that an equity crash is ahead. When that crash hits, UVXY will explode. Keep in mind that
My point is I hope to be in position before the explosion. I can accept the decay in hopes that the explosion makes them irrelevant. As with ETH these are gambling funds. lol
Explosion? UVXY all time high:
Give Me Liberty or Give Me Debt
Days like today (extreme volatility in many arenas) will continue as long as the Plunge Protection Team counters reverses what the markets dictate. Money to be made on volatility.
Give Me Liberty or Give Me Debt
From 460 million to 18???? Well, i guess it didnt go to zero. Haha
Knowledge is the enemy of fear