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Day traders among us?

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
As stated, I have not trade one drop of crypto, didn't want to go through the whole wallet thingy etc. I just didn't get it.

I do understand buying it as a speculative play. I don't understand how one trades it short term. Fundamentals seem irrelevant and it doesn't look like technical analysis is applicable... What are you guys actually using as signals in and out? I am puzzled.
 

James Mpls

Member
Joined
Apr 4, 2010
Professional Status
Certified Residential Appraiser
State
Minnesota
I don't understand the cryptocurrency stuff and don't want to; I have a job that pays well. We threw $100,000 in the stock market in April and doubled our money.

We bought a five-acre vacant land parcel at a tax sale in October for $30,000 and are now under contract for $55,000. I pulled $100,000 out of the stock market in December and bought a house to flip for $100,000. We will spend ~$20,000 and we will sell in April with an anticipated sale price of about $170,000 which I split with my partner who did the work.

I don't understand the crypto thing or day trading and will stay in my lane.
Those are some amazing profits and RORs! I haven’t had quite as much luck with my stock choices...yet. Although I have really been learning about and scouting a multitude of genomic stocks/companies within my stock portfolio; I think that sector is “next-gen” for growth. I really would like to get into flips also, as think I would be good at identifying profit margins (‘As-Is” vs “As-Repaired” values and maximizing renovations made) with my extensive 15+ years experience on the Fannie Mae Default REO appraiser panel. Hey, you have been able to carve out an incredible career for yourself with great qualifications, clientele and profits...everything about that is good. The crypto currency and blockchain sphere is simply just very interesting to me. I think that in ten years, the entire financial industry will be running on blockchain systems (most likely on Ethereum 2.0). My only regret is not buying immediately when I thought Bitcoin was too expensive in 2015, because it had went from $100 when I was first looking at it, up to $250 (it’s currently at $57,000+ - Doh!!)...
 

James Mpls

Member
Joined
Apr 4, 2010
Professional Status
Certified Residential Appraiser
State
Minnesota
As stated, I have not trade one drop of crypto, didn't want to go through the whole wallet thingy etc. I just didn't get it.

I do understand buying it as a speculative play. I don't understand how one trades it short term. Fundamentals seem irrelevant and it doesn't look like technical analysis is applicable... What are you guys actually using as signals in and out? I am puzzled.
There is basically a 4 year cycle chart I look at (look up Bitcoin rainbow chart or Bitcoin stock to flow model) signifying bull and bear markets (in bull market now). You are correct, though...the signals are virtually non-existent because the markets are still so new. Bitcoin and Ethereum are currently right in the middle of price discovery mode. Eth just hit $2000 last night and Bitcoin is currently rising above $57,000.
 

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Bobby Bucks

Thread Starter
Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
I don't understand the cryptocurrency stuff and don't want to; I have a job that pays well. We threw $100,000 in the stock market in April and doubled our money.

We bought a five-acre vacant land parcel at a tax sale in October for $30,000 and are now under contract for $55,000. I pulled $100,000 out of the stock market in December and bought a house to flip for $100,000. We will spend ~$20,000 and we will sell in April with an anticipated sale price of about $170,000 which I split with my partner who did the work.

I don't understand the crypto thing or day trading and will stay in my lane.
Nice job on that one, I enjoy flipping more than any other part of RE. Crypto is still more or less a hobby, a video game that pays if you will, but it can be as addictive as caffeine or tobacco, I get the same brain sensations. I may have to look up a ten step program at some point. :)
 

Bobby Bucks

Thread Starter
Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Use Coinbase Pro or Binance US for crypto buys. If you’re buying on RH, you cannot transfer to your own personal wallet for safe keeping. Check out Iota if you use Binance US, it’s my favorite long term project (it will be huge if it hits IMO) but you have the right idea with a base of Btc and Eth. Ethereum was the 1st crypto that I started buying; it is very solid and it will start to become more deflationary and in short supply with EIP 1559 for Eth 2.0 rollout.
Thanks for that tip, I’ve been considering making some changes regarding bitcoin ownership. I have done very well with Bitcoin since Elon’s comment about it being "simply a less dumb form of liquidity than cash," whether he’s correct or not makes little difference, the market reaction is real. I'm considering selling some bitcoin this weekend and putting it in 5 of Motley's long term recommendations. I try to stash away any gains in a utility stock and in long range stocks recommended by Motley Fool, their track record is good. I don’t spend a great deal of time with it all, I concentrate on a small area and know my limitations. I play poker with crypto, I play chess with those profits.
 

Bobby Bucks

Thread Starter
Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
As stated, I have not trade one drop of crypto, didn't want to go through the whole wallet thingy etc. I just didn't get it.

I do understand buying it as a speculative play. I don't understand how one trades it short term. Fundamentals seem irrelevant and it doesn't look like technical analysis is applicable... What are you guys actually using as signals in and out? I am puzzled.
The signals are irrational exuberance to the max mixed with gold fever. It's shocking to read some of the crypto user groups and see how they approach it all. Mix all of that with Tesla buying billions and it's impossible to measure it rationally IMO. There is a dogecoin cult trying to emulate the gamestop group, as far as volatility goes, dogecoin makes Bitcoin look like a bank CD. :) I’m still a novice as far as the stock market goes, I’ve always stuck with real estate. I’m selling a flip in the next month and am considering selling all my vacant lots that are in my IRA because I sense a bubble coming there. I’ll put some of that in crypto. I hope Big Ole Boy sees this thread and comments about bitcoin, who knows, he got in bitcoin very early and may own half the state of Tennessee by now. :)
 

Bobby Bucks

Thread Starter
Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Use Coinbase Pro
If you have it, you can post your referral link for coinbase, I'm considering coinbase, Voyager and others. The dogecoiners are spamming with their links and you were polite enough not to post it, it isn't spam if I ask for it, plus I think they give you 100K for the referral, right? :)
 

Mark K

Elite Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
I play poker with crypto, I play chess with those profits.
Kinda like the US foreign policy. The US is playing checkers, the ChiComms and the Ruskies are playing chess.

As far as the market...I sold most all my rentals (16 units) in 06-07 put the proceeds in the market with other stocks. Been a few ups and downs (I buy like a kid in a candy shop during the downs) but overall I trade once or twice a week, maybe.

Crypto is witchcraft, but it works well, if you're a witch. I'd end up like the witch on the "Holy Grail" if I tried it.
 

James Mpls

Member
Joined
Apr 4, 2010
Professional Status
Certified Residential Appraiser
State
Minnesota
If you have it, you can post your referral link for coinbase, I'm considering coinbase, Voyager and others. The dogecoiners are spamming with their links and you were polite enough not to post it, it isn't spam if I ask for it, plus I think they give you 100K for the referral, right? :)
Not sure about that...I will look it up right now and see. You want to use Coinbase Pro or Binance US. Nothing wrong with Coinbase (Ive used it for many years), however CB Pro is the same company, just less fees and a much more comprehensive trading interface that I think you will appreciate. CB Pro was not available yet when I started out (it was called GDax at the time), it would have saved me a lot of needless dollars spent on fees.
 

James Mpls

Member
Joined
Apr 4, 2010
Professional Status
Certified Residential Appraiser
State
Minnesota
If you have it, you can post your referral link for coinbase, I'm considering coinbase, Voyager and others. The dogecoiners are spamming with their links and you were polite enough not to post it, it isn't spam if I ask for it, plus I think they give you 100K for the referral, right? :)
Hey I have a referral link for Coinbase. It is a good jumping off point, just the fees for buying crypto are a bit higher than Coinbase Pro. One you are a little more familiar you can move to Coinbase Pro, its the same company, log in, password, etc, just lower fees on buying anything and a more detailed trading interface. I tried to PM you the link and couldn't; maybe it is how your profile is configured? I would rather not post it here out in the open. If you can send me your email address, I can email it over to you as well. I think it gets me like a $10 credit. You can actually earn free crypto on Coinbase by just completing these little mini-classes about different cryptos/projects. It is a good way of gaining a little knowledge and some free crypto currency.
 
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