deploying outside price range - strict limits?

[purgolder83]

Thanks Sol, will be following every step to the T here - for a few years at least to drill in the basic fundamentals. Up downs part of the game, which is why am appreciative of real deal investors who walk the talk.

@Yodean, love the hardcore attitude lol... me frog legs prob bit too old and chewy, so there's other young tadpoles bit more suited for the feast
Have had me fair share of beatdowns up downs humbling experience throughout my whole life and have always stood right up and kept pushing fighting forward - so hopefully that's prepped me well here

Cheers, froggo

https://www.youtube.com/watch?v=2H5uWRjFsGc

[froggo]

hey guys
I've reported ETHE fill 3 weeks ago here in forum and via email, but maybe that email wasn't delivered...

buy ETHE @ $ 19.62[/b] (this ETHE's +2.2% over the upper range of 19.2, i let this slide as an exception, is this breaking the rule? let me know and will note for future deploys)
Cheers, froggo

Am reading latest market update 4/4/22 that ETHE is no longer in play... so want to seek advice on what your thoughts would be on possible price range to close all positions?
Since GBTC is being closed out at 2x the entry price, would I assume the same for ETHE (i.e. 19.2 x2) since both cryptos roughly the same trends...

Cheers,

[SOL]

hey guys
I've reported ETHE fill 3 weeks ago here in forum and via email, but maybe that email wasn't delivered...

buy ETHE @ $ 19.62[/b] (this ETHE's +2.2% over the upper range of 19.2, i let this slide as an exception, is this breaking the rule? let me know and will note for future deploys)
Cheers, froggo

Am reading latest market update 4/4/22 that ETHE is no longer in play... so want to seek advice on what your thoughts would be on possible price range to close all positions?
Since GBTC is being closed out at 2x the entry price, would I assume the same for ETHE (i.e. 19.2 x2) since both cryptos roughly the same trends...

Cheers,

you went in slightly above the suggested entry price. So use the GBTC exits to bail out.

[froggo]

you went in slightly above the suggested entry price. So use the GBTC exits to bail out.

thanks Sol!

[Budge]

you went in slightly above the suggested entry price. So use the GBTC exits to bail out.

thanks Sol!

These suckers are up and down more than a dog's hind leg, but how will you feel if this drops lower than your buy price?

[froggo]

These suckers are up and down more than a dog's hind leg, but how will you feel if this drops lower than your buy price?

hey Budge,
I've followed TI's advice where once the price has moved +30% from entry, then will set stop loss to entry price... so I've set stop loss at just above entry price at 19.66 to B/E (adjusting for brokers fees etc), so all good for me. Hopefully the dog's hind legs can flick the price up enough in my favour for a profitable exit

[froggo]

this been my own play... man, nearly got stopped out yesterday! well, if I get stopped out, then at least on break even and it was fun while it lasted !

[Yodean]

this been my own play... man, nearly got stopped out yesterday! well, if I get stopped out, then at least on break even and it was fun while it lasted !

NFA (not financial advice), My 2c: also have significant position in ETHE, on balance looks like consolidation before another leg up.

[froggo]

this been my own play... man, nearly got stopped out yesterday! well, if I get stopped out, then at least on break even and it was fun while it lasted !

NFA (not financial advice), My 2c: also have significant position in ETHE, on balance looks like consolidation before another leg up.

Yodean! Man, glad I'm not alone...
Now, not asking financial advise, but if you hypothetically had a stop loss limit set at 19.69 would you probably cancel it?

[Yodean]

Yodean! Man, glad I'm not alone...
Now, not asking financial advise, but if you hypothetically had a stop loss limit set at 19.69 would you probably cancel it?

Lol, you probably shouldn't listen to me about stops. I generally don't use firm stops, and prolly follow only about 50% or so of the TIT's official stops. If I like the stock I'll generally keep it.

I do often use mental trailing stops if a stock is in a highly profitable position, and I try to exit at a few different price points if the position is large (i.e. dollar-cost average out of a position).

Now that I'm starting to learn how to SCC (Sell Covered Calls), the SCC strategy is quite useful at exiting a profitable postion in a somewhat risk-managed fashion, at different price points.

I'm bullish on ETHE as long as the "risk on" sentiment is still there, so no stops for me. For the most part, it's been behaving a bit like a tech stock.

[froggo]

Thanks for your thoughts!

[Yodean]

Yodean! Man, glad I'm not alone...
Now, not asking financial advise, but if you hypothetically had a stop loss limit set at 19.69 would you probably cancel it?

https://youtu.be/lyGEDsx3AHs

@Escargot: you might find the above interview interesting. It's about ETH, and the interviewee shares some unusual ideas.

One of the reasons why most of the OG of Wall Street have tended to avoid ETH (and cryptos in general) thus far is that there is no consensus way to apply traditional methods of valuation to cryptocurrencies.

The interviewee uses DCF (Discounted Cash Flow) analysis, and believes that if ETH 2.0 should emerge unscathed -i.e. switch from current Proof-of-Work (PoW) to Proof-of-Stake (PoS)- his DCF modelling for ETH shows its fair valuation at 10k.

There are a lot of question marks, of course - ETH 2.0 completion has been delayed countless times. Going from PoW to PoS for ETH is like changing the engine of an airplane while it is in flight, it is said.

I mean, what could go wrong?

There are, as always, regulatory uncertainties. Some think the completion of ETH 2.0 is also being delayed because those in charge of the transformation are making a lot of money through ETH in its current form (PoW), so lack incentive to complete ETH 2.0 to PoS in a timely fashion.

In any case, a stimulating interview for those who hold ETH.

As an aside, the interviewee also mentions SPTO (Sell Puts To Own) and SCC (Selling Covered Calls) in the context of crypto. Quite unusual to hear SPTO and SCC mentioned in a mainstream interview on crypto - you can see the interviewer looks a bit confused when the interviewee mentions these strategies.

[froggo]

Yodean, thanks for this - really appreciate it
Gonna watch the video and also digest your post - me homework for tonight!

[Budge]

Just catching up on lots of missed subjects. I try and avoid any fundamental analysis and go with the charts. My quick and dirty on ETHE.
Monthly: broke through support (S) about $23. Could drop to 14.5 even single digits.
Week: going down S at 15.
Day: bounce, R about 21.5, if it breaks that goes into low 20s
15 min: headed up
10min: ditto
5 min: hitting R at 19.59 if it gets through next R at 20.30

@10:25

[Yodean]

Just catching up on lots of missed subjects. I try and avoid any fundamental analysis and go with the charts. My quick and dirty on ETHE.
Monthly: broke through support (S) about $23. Could drop to 14.5 even single digits.
Week: going down S at 15.
@10:25

You're gonna scare Escargot with this kind of post.

Cryptos are super-volatile, so pretty much anything can happen.

I find that with cryptos in general, outside of BTC perhaps, Technical Analysis (TA) is not that accurate, especially during periods of extreme sentiment readings (either super-bearish, like now, or during euphoric phases or "risk on" periods).

I rely more on sentiment indicators for crypto at times like now, like my li'l EBI and Peter Schiff:

*****

Schiff believes that now that Bitcoin and the crypto market in general are plummeting, along with the stocks of companies working in the blockchain sphere, the whole crypto industry will be exposed as a "malinvestment."

Tweet:

#Bitcoin, #crypto, & #blockchain related stocks are getting decimated. Many of these companies will go bankrupt as the entire industry is exposed as malinvestment. Mass layoffs will result in mass selling of crypto as unemployed workers raise cash to pay soaring household bills.

— Peter Schiff (@PeterSchiff) May 5, 2022

In early January, Schiff expressed the view that the global leading cryptocurrency is likely to collapse below the $30,000 support.

Back then, Bitcoin was trading at the $35,000 level.

Now, that BTC has been hit by the recent interest rate hike by the Federal Reserve by half a basis point (the highest rise in 22 years), the price has fallen to the $36,362 zone.

https://cryptonews.net/en/6121069/

*****

_Usually_, when Peter's anti-crypto Tweets start making it to financial media, BTC and ETHE are starting to bottom ...