Talking stocks, trading, and investing in general

[venividivicibj]

It's gambling if youre randomly picking currencies to invest in. If you're doing research its different.

I mean... if youre using that logic, then picking stocks is 'gambling' to some extent too...

 

[venividivicibj]

For OTC
https://www.cryptocoinsnews.com/108351-2/

 

[idfnl]

We all agree this crypto stuff is gambling right? Some places actually take bitcoin but the rest of those random currencies...is this just improving whatever the hell a blockchain is for the future? I feel like an idiot trying to understand this stuff.

3 months ago I would have said that, but I don't feel that way now about it being gambling. It's wild west, not gambling. It's an infant industry that is finding it's feet. You either believe in it and invest, or you sit back and take the cautious approach. I'm in the middle, I put enough in that felt like a move, but it wasn't any more than I own in DIS, or 30 other stocks. The difference is I'm up 4x (4.3x since yesterday) and so my stake now looks like what I hold in AAPL which to me is substantial. For reference I'm up 11% in DIS, ho hum.

The "gambling" perception comes from yokels throwing money at every shitcoin in existence. If you research this a bit you will discover that crypto has the potential (stress potential) to be the most disruptive technology in our entire history.

Take these 3 spaces as use cases: banking, massive market cap, crypto is scratching to obliterate the fee structures they base their business on. Contracts, lawyers fees? Blockchain can, over time, eliminate the complex to and fro by embedding the contract in the blockchain. Storage? Amazon is viewed as the gorilla of gorillas, but take away its cloud products? Brings that company down to earth.

Here's the war as I see it:

Governments will want to protect their graft by imposing inflation, thus devaluing our money. But Nevada just took a surprisingly interesting step https://steemit.com/crypto-news/@pgcrypto/could-nevada-become-the-silicon-valley-of-crypto

3rd world country people haven't even realized what this can do for their lives. No more devalued currencies thru corrupt and dysfunctional actors? More please.

Eventually the market cap of crypto will force a move. That's the true inflection point of whether I'm visionary or an idiot for thinking I can challenge the elite.

In essence, a war will take place between elected idiots and really smart technologists. In an all things equal fight, it would be a laugh. But elected idiots have immense entrenchments supporting them... so suddenly you have an interesting fight.

Being in tech for 20 years, I have always been able to out-program corporate idiots, so I imagine that will hold here. My money is on blockchain, and I am planning to take a much bigger bite. I can tell you I checked my blockchain portfolio much more than stocks in the last week.

 

[otc]

For OTC
https://www.cryptocoinsnews.com/108351-2/

Yeah... That's... Not good.

 

[brokencycle]

So who should we use for buying these things? I might throw $100 at a couple.

 

[jbarwick]

I am going to put crypto currencies in my "too hard" pile. I can't wrap my head around the idea of it and don't care to spend that much time on it.

 

[lawyerdad]

Yeah... That's... Not good.

Good thing the traditional exchanges never have technological edina events.

 

[Master-Classter]

Huh, so EPZM, little biotech co I've had on my watchlist for a while and have played with over the years just dropped 15% and my alert went off. Made a quick call and bought 100 shares at 9.5 and set more buy orders at 9 and under. It bounced back and I sold it off at 10.25 and then it kept going up to about 10.6 as of now. Damn, sold early as usual, but made a quick 8% return on $1K so eh, I'm happy with quick little wins like that. Have already reset my buy orders again and if it goes back down I'll lean in fairly hard. This one's got +30% upside potential just based on the chart... I had previously bought some IIRC around 9.5 and sold it around the same 10.5 I think, and then it kept going... up to 17!


Edit - oh wow, woke up and looks like it went all the way up to 13.7 or so before coming back. Coulda made a few hundred if I'd waited. I'm in Auz so can't really follow the markets overnight. Just set my orders to buy and sell and go to sleep and wake up to see what happened...

 

[idfnl]

I'm down a fuckload on EPZM.

 

[brokencycle]

I still don't understand your investing strategy MC.

 

[venividivicibj]

BTC down to 2.4k if you want to hop on.
Eth down to 340 as well

 

[otc]

BTC down to 2.4k if you want to hop on.
Eth down to 340 as well

Now you're just rubbing it in that coinbase won't take my money...

 

[jbarwick]

I still don't understand your investing strategy MC.

Catching falling knives

 

[Master-Classter]

I'm down a fuckload on EPZM.

Did you buy on this dip? 45% range between the 9.4 low and 13.7 high just in a day...

I still don't understand your investing strategy MC.

Catching falling knives

You joke buy in a way, yes, that's sort of the strategy. I can't predict how high or low something will go, but I prefer to buy low and sell high not buy high and sell higher. I follow general momentum but also look for over-reactions. If something drops 15-25% overnight then yes, sometimes it's for good reason and it's a knife and I've caught 3-5 of those, but I've also bought and traded bounces (or slow steady returns to average) on 20-30 others. I wouldn't know where to sell on the upside if I bought something and held it, but if it drops way down, I can look at the chart and get a sense of where the low points tend to be and where the high points tend to be. I set various buy and sell orders accordingly.

I have holdings like say AAPL which I don't know what to do with because I historically sold off at say 130, close to it's all time highs, but then it's at 145-155 now and I don't know where to sell so I just sort of hold my breath. With other stocks, I have set sell orders as it goes up so I know why I'm buying or selling.

 

[brokencycle]

Did you buy on this dip? 45% range between the 9.4 low and 13.7 high just in a day...



You joke buy in a way, yes, that's sort of the strategy. I can't predict how high or low something will go, but I prefer to buy low and sell high not buy high and sell higher. I follow general momentum but also look for over-reactions. If something drops 15-25% overnight then yes, sometimes it's for good reason and it's a knife and I've caught 3-5 of those, but I've also bought and traded bounces (or slow steady returns to average) on 20-30 others. I wouldn't know where to sell on the upside if I bought something and held it, but if it drops way down, I can look at the chart and get a sense of where the low points tend to be and where the high points tend to be. I set various buy and sell orders accordingly.

I have holdings like say AAPL which I don't know what to do with because I historically sold off at say 130, close to it's all time highs, but then it's at 145-155 now and I don't know where to sell so I just sort of hold my breath. With other stocks, I have set sell orders as it goes up so I know why I'm buying or selling.

Haven't you been burned numerous times though? Plus you'll post about keep buying a stock on the way down. I don't know, as an outside observer, it seems like you're basically gambling, add that to all the trade fees you must accrue, I can't see a path to outsized returns over a long period of time.

That's my 2 cents, but I basically just buy index funds and call it a day.