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Thread: Investing in crypto currencies

  1. #55
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    Quote Originally Posted by zhao View Post
    that works fine during trading hours when the up and down of stocks is a fluid smooth motion for movement, but IMO its not guaranteed (or even likely) for stocks to crash at say 1pm, or 10am. What happens is some shit news gets released at 4:01pm toronto time or later, aka afterhours, and the opening top bid order the next morning is 60% less than what it closed at the day before and 4 bazillion people are selling at market price crashing it even harder. A stop loss wont save you in that case, nor will it save you if trading is halted for news.

    The stocks i'm in pretty much release their data afterhours, and all the movements i've seen that were significantly negative or positive were at opening trade where you missed the boat if u didn't already own or sell yesterday.

    This is why as a day trader you never want to be in anything on a Friday. Bad news always comes out on a weekend. And stop losses are a waste a lot of the time anyway. Market makers can see your stop losses.

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    Quote Originally Posted by Viktimize View Post
    They're making it so you can bet futures on bitcoin now. Also you can buy shares in companies that do the mining. Which is way easier and probably more lucrative. You have to do hardware upgrades so often that it kills a lot of profit to do it yourself.

    I am seriously questioning if I should put 100k on eth now. If that thing hit 10,000$ in the next few years I'd have 2 million dollars.
    You could have thrown that $100k at a weed penny stock like MMJ when it was $0.03 and have over 1mil in less than a year because it is at $0.31ish right now and you'd be able to cash it out way easier.


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    Quote Originally Posted by zhao View Post
    that works fine during trading hours when the up and down of stocks is a fluid smooth motion for movement, but IMO its not guaranteed (or even likely) for stocks to crash at say 1pm, or 10am. What happens is some shit news gets released at 4:01pm toronto time or later, aka afterhours, and the opening top bid order the next morning is 60% less than what it closed at the day before and 4 bazillion people are selling at market price crashing it even harder. A stop loss wont save you in that case, nor will it save you if trading is halted for news.

    The stocks i'm in pretty much release their data afterhours, and all the movements i've seen that were significantly negative or positive were at opening trade where you missed the boat if u didn't already own or sell yesterday.
    Crypto trading is open 24hours a day 7 days a week. A stop loss on these programs should be foolproof, if the price is passed then a sell order should immediately go out.
    #RAM

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    Quote Originally Posted by LOLJDM View Post
    You could have thrown that $100k at a weed penny stock like MMJ when it was $0.03 and have over 1mil in less than a year because it is at $0.31ish right now and you'd be able to cash it out way easier.
    If you had thrown 100k into eth a year ago you would have 6.7mill right now
    #RAM

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    Quote Originally Posted by Viktimize View Post
    This is why as a day trader you never want to be in anything on a Friday. Bad news always comes out on a weekend. And stop losses are a waste a lot of the time anyway. Market makers can see your stop losses.
    its even worse, the tsx being relatively small i wouldn't want stop losses anywhere close to the current market price because blowing out people's stops is not a new concept. I wouldn't say bad news always comes out on the weekend though. My experience is its pretty even for the most part. nothing i'm in has released their quarterly reports on a friday after trading. its almost always mtw after trading.

    long and slow can work though. If you went long on air canada you'd be retired now. Same with amazon. same with apple. It depends on what you are comfortable with losing and how active you can be with monitoring the market. To me it also depends how much money i'm investing.

    see, right now i'm going for stupid returns without it being stupid risky (my goal is 100% per year, not that i expect to get that but that's my goal ...but i'm avoiding MJ, cryptos, penny stocks with no volume, etc, but also avoiding funds, large cap stocks, etc), and i'm doing ok (last time i sold the stock i'm almost all in i was sitting at about a 40% ROI since starting buying/selling that in june, but i could have easily done zero return, or negative 40% return going that risky). I'm only doing that because i'm only playing with my TFSA in the stocks (and a bit in my RRSP, so just over 50k invested there), and I only moved in to stocks because nothing in the real estate world has peaked my interest for decent returns this year. Honestly, if you're only playing with 20-100k, realestate is pretty good for the amount of risk. infact, I would say real estate is probably the best first investment as its the easiest investment to get other people's money to make you money.

    My track record is this: 2014.3-2015.2 did 100% ROI, 2015.5-present ROI of about 80% (still own that one), 2016.5 to present ROI of 150% (still own it too, might sell it in spring when prices are highest, but i see that market continuing to climb).

    THere is a property in kelowna i would have bought the shit out of if i knew it existed (95k got you a studio apartment near downtown by a bus line to the college that is legal to rent out short term (aka perfect weekly vacation property for summer, perfect student rental for fall to spring). I would have bought probably 3-4 of those, but it looks like its legal to sell those prior to possession as i see some for sale now without the building being complete. Currently asking price of those same units is about 200k). If you put 20% down on those with your 100k you could have bought 10, and boom, 750-1million return right there on 100k within a year.

    The problem with real estate is after kelowna dries up, i'm not sure where the next decent place to invest in real estate will be. alberta sucks, toronto and vancouver are old news. possibly the maritimes?

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    Quote Originally Posted by LOLJDM View Post
    You could have thrown that $100k at a weed penny stock like MMJ when it was $0.03 and have over 1mil in less than a year because it is at $0.31ish right now and you'd be able to cash it out way easier.
    Unfortunately I don't have a time machine. So have to roll with today's opportunities instead.

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    Quote Originally Posted by zhao View Post
    its even worse, the tsx being relatively small i wouldn't want stop losses anywhere close to the current market price because blowing out people's stops is not a new concept. I wouldn't say bad news always comes out on the weekend though. My experience is its pretty even for the most part. nothing i'm in has released their quarterly reports on a friday after trading. its almost always mtw after trading.

    long and slow can work though. If you went long on air canada you'd be retired now. Same with amazon. same with apple. It depends on what you are comfortable with losing and how active you can be with monitoring the market. To me it also depends how much money i'm investing.

    see, right now i'm going for stupid returns without it being stupid risky (my goal is 100% per year, not that i expect to get that but that's my goal ...but i'm avoiding MJ, cryptos, penny stocks with no volume, etc, but also avoiding funds, large cap stocks, etc), and i'm doing ok (last time i sold the stock i'm almost all in i was sitting at about a 40% ROI since starting buying/selling that in june, but i could have easily done zero return, or negative 40% return going that risky). I'm only doing that because i'm only playing with my TFSA in the stocks (and a bit in my RRSP, so just over 50k invested there), and I only moved in to stocks because nothing in the real estate world has peaked my interest for decent returns this year. Honestly, if you're only playing with 20-100k, realestate is pretty good for the amount of risk. infact, I would say real estate is probably the best first investment as its the easiest investment to get other people's money to make you money.

    My track record is this: 2014.3-2015.2 did 100% ROI, 2015.5-present ROI of about 80% (still own that one), 2016.5 to present ROI of 150% (still own it too, might sell it in spring when prices are highest, but i see that market continuing to climb).

    THere is a property in kelowna i would have bought the shit out of if i knew it existed (95k got you a studio apartment near downtown by a bus line to the college that is legal to rent out short term (aka perfect weekly vacation property for summer, perfect student rental for fall to spring). I would have bought probably 3-4 of those, but it looks like its legal to sell those prior to possession as i see some for sale now without the building being complete. Currently asking price of those same units is about 200k). If you put 20% down on those with your 100k you could have bought 10, and boom, 750-1million return right there on 100k within a year.

    The problem with real estate is after kelowna dries up, i'm not sure where the next decent place to invest in real estate will be. alberta sucks, toronto and vancouver are old news. possibly the maritimes?

    Yup anything can work if you get lucky. I wasn't really talking about getting lucky or taking 10 years to make any money. I'm talking about people that consistently make money and make their living from home on their computer. People always have this weird lottery mentality about the stock market. Like if I could just make one lucky pick and make a few million I'd be retired. It's extremely risky and unlikely. Whereas it really isn't that difficult to make 500$ a day on average by day/swing trading, if you have a reasonable starting amount. And that retires most people.

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    my point was its probably better to chase the things you are more sure of reacting in a favorable way (so very good returns, but not crazy returns. if I could guarantee 20% a year i'd be laughing) and have a goal of retiring in 20 years or so, then to chase the 'retire in 2-3 years with passive income amway dream'.

    Daytrading to me is too risky to live off. Eventually you will mistime or misjudge something and be stuck, making no money for months, or exiting with a loss and trying to rebuild that..... possibly with another loss, and another. IMO a safer way would be to amass equity, liquidate it, and invest that in more sure somewhat stable investments. i'd be looking at a diversified portfolio of dividend stocks with room to grow and mutual funds for a significant portion of my portfolio. I'd probably keep a 6 figure chunk to throw at risky shit. IMO a 10% return on a million is something u could retire off of, with enough left over to reinvest to keep pace with inflation (but you wouldn't be baller doing that in a first world country). The thing is, would anyone do that that 'slowly' built up that amount with hard work? You're far more baller than I am, and I wouldn't do it. I'm guessing you'd want more too. My wife and I combined are getting close to that in equity at mid 30s, and i'm thinking why stop anywhere close to where we are at now... lets see how far I can take it with 15-20 more years of working. You make decent money, you probably work hard to do it, and i think just turning that switch off and switching to being a lazy ass is a hard thing to do, especially when you start depleting what you worked hard for. if you were ok being lazy doing nothing, you'd probably be ok doing it on welfare.

    So right now i'd say i'd want a million in equity in real estate and a million in liquid investments like stocks/funds/etc. $5 says if i have that in 10 years i'd be saying that's not enough to stop working and i'd want more. But maybe i'm an anomaly. i find investing addicting and enjoyable. I read some article about how the couch potato portfolio was great because no one enjoys reading financial reports and analyzing the hell out of stocks. i was like wtf? i enjoy that...

    I do agree 500 a business day is doable day trading if you have the money. 200-400k in a trading account and you can probably do it for a long time provided you make no huge errors, but it will turn in to a full time job IMO, and eventually you will fuck up from being greedy and have too much of your money stuck in something at a loss. Trading 40k is a lot different then trading 400k imo. I have said before, but my Ex-gf daytraded the fuck out of currencies, and she was able to make a living off that if she wanted to, but it was at the very least a part time job, and she had to keep 1 step ahead of 98% of the people, and 1% of people were 1 step ahead of her so she always had to stay on her toes to make sure someone didn't change the game without her noticing.

  9. #63
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    Quote Originally Posted by zhao View Post
    you can probably do it for a long time provided you make no huge errors
    And therein lies the the trick. To state the obvious, even a series of smaller errors will have the same effect as a single large error.

    It's just not my thing. I have a bit of mad-money that i use to dabble in stuff just for fun. I'm up a bit but mostly thanks to aurora cannabis ltd. Almost doubled my mad-money.
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