Watchlist for Bitcoin stocks

Watchlist for Bitcoin stocks.

here is my list
1 - riot
2 - mara
3 - clsk
4 - btbt
5 - bitf
6 - mogo
7 - wt
8 - intr
9 - hut

Go into barchart.com select investing then click on blockchain stocks
when listing comes up click on volume to put them in high to low order

Most of my list and stocks purchased are in the high vol 40m to 10m

Most of the stocks are bought at 1000 shares Out of the Gate and bang them for fitty cents.

or place a limit sell order at plus $ 0.50 cents above the purchase price for lunch money.

Quill -

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I thought not to buy when there is a price label at the top of the trend? In the BITF example, why would you buy, the move already happened and the signal appears at the end of November.

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Jkenn21,

Good eye on BITF’s chart, and you offer a sound complaint. So permit me to comment.

I don’t use price labels as trading signals. (That’s Quill’s system, not mine.) And, yes, BITF has already made a huge move.

So this question has to be asked: "Is the move over and done, or was that merely the first leg of a multi-stage move up?"

There’s a chart pattern you should look up called ‘A Measured Move’. If the move from (about) 1.17 to (about) 2.83 was the first leg, then a price target of around 4.49 could be guessed. Hence, possibly, there’s more money to be made from BITF.

So the next question becomes this: “Does BITF have the fundamentals needed to support that move?” Luckily, Simply Wall Street likes the stock.

But I’d suggest this. Do don’t anything stupid or crazy like buying 1,000 shares unless you’re an experienced trader with a large account (like Quill). This is a highly speculative bet. So, do three things.

#1 Size your intended final position conservatively at no more than than 5% of AUM and trail a stop set that so you’d lose no more on the trade than 1/2% of AUM.

#2. Create an opening position with just half of your intended final position and add to it only if and when the market confirms that your entry was correct.

#3. Make your initial entry on a ‘buy stop’ order set above the last high.

Charlie

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Thanks Quill,

Charlie, what’s the difference between pros and joes? You made some great suggestions in the above post…doc

Thanks Charlie. I was pointing out the price label because that is what I see Quill preach. I don’t use them myself. I stick with the HA candles, SAR, TSI, and some MAs. I like “trend trading”. Thanks for the insight on ‘A measured move’

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Doc,

I think one diff between experienced investors/traders and beginners is the self-confidence that (possibly) develops from being “battle hardened”.

The classic “right/wrong” profile of a trend-following systen is 35%/65%, or 3 losing trades in 5. It takes courage and confidence to get back in there after a loss (or two or three) and to put on another trade. Therefore, beginners need to keep positions small, so they can keep losses small. They need to suvive —monitarily and emotionally-- long enough to learn a system of putting money at risk in hopes of profits --be that ‘investing’ or trading’ – that meets their means, needs, goals, temperament, and time frame.

A lot of people --for a lot of reasons-- don’t like Jake Bernstein. But in one of his books --whose title escapes me right now- he says this:

“We don’t trade markets. We trade our ideas about markets. Hence, we trade ourselves. Hence, we need to admit -as fast as we can-- when we are wrong and to fix the mistake we made. But sometimes, maybe a lot of time, no mistake was made. The market did what it did, because that’s just the nature of a complex system whose path and outcome we were trying to guess.”

Said another way, it’s ‘money-management’ and ‘risk-maanagement’ that’s going to make or break an investor or trader, not the buy/sell signaling system he/she is trying to implement, especially if it isn’t a system they themselves built.

Charlie

jkenn21,

re: BITF

Going to assume you did not read the two (2) simple rules that a 6th grader can understand.

Buy on 11/28/2023 with the modified rule. Under normal conditions we would buy at the following bar after the price label or gate.

We wait and wait until a Sell signal appears.

Sell on 12/15/2023.

But for lunch money, we were out on plus $ 0.50 cents. we would then move on to the next stock.

Quill -

re: BITF

Then again there was a potential buy signal on 12/21/2023. HA smothie signals or candles will not tell you this.

Quill - a poor church mouse scratching for living as a Swing Trader for over 48 years and an Investor for over 60+ years.

Only an experienced Swing Trader knows how to read charts as to know when to buy and sell.

Quill,

Yes, using a HA chart with a 2-month look-back, a look-back high was signaled on 11/28, setting up a possible entry on 11/29 that proved profitable. But a look-back high was signaled on 11/15 that, if entered on 11/16, resulted in getting stopped out with a loss. That is the problem with your flag system. The flags repaint as the chart advances. This situation can’t be dismissed as a rare ‘headfake’. Rather the opposite is true. Breakouts fail more often than they succeed.

Here’s a different problem. On 6/20, when that day was at the hard, right-hand edge of the chart, a flag was planted on the green bar. The ‘Wait One’ rule requires the following day’s bar to be green. That does happen, and an entry could be done on 6/23. But on 6/26, a warning Doji appears, though the bar is green. The following day, the body of the Doji narrows and turns red. Ditto the following day. Prudence would suggest that the trend is getting ready to roll over and the trade should be exited. Though two more Dojis follow, prices resume their rally. This time. But holding was not the smart way to have traded that set up, or at least, not the way I’d have traded it, nor the way I’d advise anyone else to do so.

My rule is this. “When in doubt, get out.” You tend to ‘hold and hope’. That works well in a rising market. But that’s not the market likely to prevail in 2024, never mind Team Biden’s attempt to keep it propped up to ensure their re-eelection. which is a memo the Houthis didn’t get and will ignore.

Charlie

> Quill - a poor church mouse scratching for living as a Swing Trader for over 48 years and an Investor for over 60+ years.

That is so cute.

Given that I’m now 80 and bought my first stock when I was ten and doubled my money on it due to the company being bought out a couple years later, I’ve got a decade on you as an ‘investor’.

As for ‘trading’, I got into that pretty late, in the mid-80’s with a trade I did on Japan, again doubling my money. But I can claim success in a wider variety of instruments than you for your admittedly doing nothing with bonds, futures, options, or mutual funds.

You support yourself from your ‘trading’. I can do the same from ‘investing’. But how does that help anyone else find their own path? What should matter in this forum is only the goals each person sets for her or himself, however modest they might to be due to limitations of time, capital, or experience, and whatever help any of us can offer the other should be given without bragging about past trades that happened to have worked out.

For sure, investing (or trading) isn’t a team sport. It’s a solo struggle and journey. But helps no one to imply that long years in the game involves anything more than the sheer, dumb luck of having been in the right place, at the right time, often enough to have survived the game, so far. Tomorrow’s a new market, and who knows what that will bring? As a poet wrote long ago:

The Worldly Hope men set their Hearts upon
Turns Ashes—or it prospers; and anon,
Like Snow upon the Desert’s dusty Face,
Lighting a little hour or two—is gone.

Think, in this batter’d Caravanserai
Whose Portals are alternate Night and Day,
How Sultan after Sultan with his Pomp
Abode his destined Hour, and went his way.

Charlie

tou·ché My friend and have a Merry Christmas and a healthy wealthy New Year!

Quill-

For Christmas, I got one (1) share of a real certificate of the GREEN BAY PACKERS, iNC.

Now how kewl is that?

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I’d take health over wealth any day. It’s far more precious, and keeping it involves more thought and care than a pile of treasure or extra zeros in one’s trading accounts.

But, yes. Hopefully, all of us will be able to get through 2024 without too much financial grief and maybe even make a buck or two. I’m betting that the energy sector is where efforts and attention should be placed. The Houthis really have brought the Evil Empire to its knees, which is going to have spillover effects in other sectors as well.

That, and country funds look interesting to me for 2024, especially as the US increasingly marginalizes itself on the world’s stage and BRICS Plus increasingly steps forward. For sure, in the past, our home market provided plenty of investing opportunities, negating to need to look elsewhere. But that time and world is fading. Were I truly brave, I’d get involved with trading currenices, because the money can be good. But the homework is horrendous, and the markets are 24/7. The comprise I’m considering is the trio of UUP, BITO, and IAU, but long only, no inverses, because they tend to be illiquid.

That trio could make up 5% of a trading universe. So I need to find another 17 (or so) things I’m willing to track and trade. For sure, DBA and places like ILF, PIN, NGE, PAK, GREK as offsets to RSP. Throw in a few industries like TAN, FAN, URA, BDRY, and I’ve got a full plate.

Years ago, when Washington Wall Street was still being produced, the guy who ran the Schaeffer Value fund was interviewed. His disciple was to be always fully invested in 33, equally-weighted stocks. If he wanted to buy something, he had to sell something. The simplicity of that approach has always appealed to me even though I did the opposite in my bond investing/trading and carried hundreds of positions as a means to manage my risks. But a highly contrained, longs only, trading universe limited to 30 or so ETFs appeals to me, rather than chasing hither and yon after the latest “hot stock” or getting involved with inverses, which I fully expect to be banned again as the market crashes.

Charlie

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Quill, i bought MARA the day after the flag on the 11th and almost sold last Friday but I thought no, stick to the plan and wait for a flag. I’m glad I did since its about to double up. I bought and sold XLE on the flags for 2.70 profit. I have bought a couple of other stocks but got a flag after it went up ten cents so no profit. Haven’t taken a loss but thats ok as I am anticipating to hit seven or eight out of ten on these rulez. Anyways, just an update on my trial of SS…doc

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Doc,

The secret to being a successful Swing Trader ia PATIENCE , DISCIPLINEand SIMPLICITY. Stay focused and let the charts tell you what to do. And Lucas will come along and whisper in your ear, LET THE THE PREY COME TO YOU and not the inverse. Werks for me.

I keep repeating and repeating CHARTS DON’T LIE, people do.

The next thing to learn is the above and below the 20 EMA. Most of th time after the Finish line (label), the prices start heading back down over the 20ema. After it gets tired heading south, a price label appears and the journey of profits heads north back over the 20 eam.

The 20 ema has the Magnetism in relationship to the prices. Same power to the 20 ema over the 200 ema. It is there in plain site as background information. Traders don’t pay attention.

For fun follow XLE since 6/28/23 and look what happens as you buy and sell earning nice profits along the way. You had made 4 for 4 nice profit trades.



Be nice to Simon and he will take care of you in your journey in being a very successful Swing Trader.

Quill -

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