Hey Nerds: Blockchain
- Thread starter zeke
- Start date
CH1
The Artist Formerly Known as chiggins.
what $ amount do you typically risk for +$500
Preston
MBow30 alt account
It all depends on the risk-reward. When I see every single MSO up 5% or more and another MSO red due to low volume I'm more likely to go in heavier, especially when they're all on uptrends - because the success rate of those moves is usually close to 100% since when they don't play out I usually break even or lose pennies at worst. If it's CURA or GTII, I trust that they will behave correctly more than the TER's, so I usually go heaviest on them. In this case, it was just over $10,000 which is the most I've ever bought TER for a day flip. The illiquidity makes it impossible to sell but luckily Cannacord bought a big batch and my sell order hit.
And my core positions are 99% of the time smaller than when I do my day trade flips (unless we're talking about March 2020 prices of course - my core positions were pretty balls deep heavy back then). I want to make sure it's worth doing when I only chase 2-3% at times.
CH1
The Artist Formerly Known as chiggins.
Sounds good, but I meant what dollar amount were you willing to lose before you scrapped this trade.
Preston
MBow30 alt account
Ohh thing is, based on how things were going and how the charts looked, I would have just bought more if the price tanked because with these shitty names all it takes is one person bailing on their position to tank a price usually very temporarily. So the answer to that question is, I wasn't willing to lose or scrap the trade unless the entire market and every MJ name just fucking cratered. In that case, I would have sold regardless of how much I was down at that particular time. But the fact that it was a laggard will 9 out of 10 times mean that it won't tank nearly as hard as everything else. There's a high floor and you have more time to get out if you don't like how things are looking.
When I do these "game the system" trades on CSE stocks in uptrends... Honestly it's really hard to lose in the absence of a market/sector tank. Famous last words, I know.
Preston
MBow30 alt account
On average, I'd say 2 thirds of the time it results in gains of $200 or more (with my most successful one being well over 2k with Cresco). The other 3rd is either small gains, break even or small losses. Just looked back over the last 2 months and the worst I've done is a $188 loss (I bail quickly if I see any headwinds from the market or sector and a lot of the time it's a mistake, but I like to play it safe); but on average when the plays don't work out I'm close to break-evenish.
BUT we've been in an uptrend. That's the key point here. It's a lot easier these days. Throw money at anything in the past couple months and you'll win. I'm not nearly as aggressive when the sector is shit. When the sector is shit I usually accumulate and add to my core holdings. Entirely different strategy.
BUT we've been in an uptrend. That's the key point here. It's a lot easier these days. Throw money at anything in the past couple months and you'll win. I'm not nearly as aggressive when the sector is shit. When the sector is shit I usually accumulate and add to my core holdings. Entirely different strategy.