Forex, futures and stocks trading

[myi]

You can just use a mental stop if your trading platform does not allow placing a stop, though it is harder since BTC trades 24 hours a day and you are not able to watch it day and night, the best you can do is to never let any profit turn into a loss, so if it keeps going higher, keep raising your mental stop to trail the price, once the price hits your stop just sell, no one ever, can catch the exact tops or bottoms, but sometimes it does happen, I shorted BTC last year at the exact top and made a killing, the most important thing is to limit your losses, if you do, the profits will come.

That's all fine and dandy, but if I suppose BTC will reach 14k does that mean after it hits the 14k mark I'm suppose to withdraw all my funds? If it reached 14 then chances are it's going to reach 15 or more.
 By putting a mental stop your limiting your profit, but then again you can loose some as well, nothing stops it from plummeting even before reaching 14k and noone will tell you to remove the funds.

 Also if you set your stop at 14 and it creeps all the way to 15.5 you can take the risk as you made 1.5 more than your stop, so you have nothing to loose.
   I guess I need to do a bit more research on how the stop works with the pros and cons.

[myi]

You can just use a mental stop if your trading platform does not allow placing a stop, though it is harder since BTC trades 24 hours a day and you are not able to watch it day and night, the best you can do is to never let any profit turn into a loss, so if it keeps going higher, keep raising your mental stop to trail the price, once the price hits your stop just sell, no one ever, can catch the exact tops or bottoms, but sometimes it does happen, I shorted BTC last year at the exact top and made a killing, the most important thing is to limit your losses, if you do, the profits will come.

Wow insane $700 in a matter of hours.
  Now topping $13k.
 I think it's time to fund another few $.

[ludmila]

That's all fine and dandy, but if I suppose BTC will reach 14k does that mean after it hits the 14k mark I'm suppose to withdraw all my funds? If it reached 14 then chances are it's going to reach 15 or more.
 By putting a mental stop your limiting your profit, but then again you can loose some as well, nothing stops it from plummeting even before reaching 14k and noone will tell you to remove the funds.

 Also if you set your stop at 14 and it creeps all the way to 15.5 you can take the risk as you made 1.5 more than your stop, so you have nothing to loose.
   I guess I need to do a bit more research on how the stop works with the pros and cons.

There is a saying that you never go broke by taking a profit, and a profit here and another there adds to big money. Let me give you an e.g. I bought puts on 2 stocks, SNAP the July 5th 15 put and ROKU the July 5th 100 put. Twenty puts on SNAP , the stock went up against me one day then fell sharply, i got out today after holding for 2 days with a $650 profit. Now on ROKU the stock crashed today, I got out when it was down $4 and on 10 puts made $2600 , but the minute I got out the stock fell $3.5 more in less than an hour, i could have doubled my profit, but I never let it bother me, as I can't squeeze every penny from a trade. For me I have been successful as a short term trader, I do not hold anything more than hours or a few days, the most a few weeks occasionally when I see a big move.The most important thing I learned is to always cut your losses fast, never let a profit turn to a loss, and take your profit when you can, not when you have to. Sorry if I bored you with all this

[myi]

There is a saying that you never go broke by taking a profit, and a profit here and another there adds to big money. Let me give you an e.g. I bought puts on 2 stocks, SNAP the July 5th 15 put and ROKU the July 5th 100 put. Twenty puts on SNAP , the stock went up against me one day then fell sharply, i got out today after holding for 2 days with a $650 profit. Now on ROKU the stock crashed today, I got out when it was down $4 and on 10 puts made $2600 , but the minute I got out the stock fell $3.5 more in less than an hour, i could have doubled my profit, but I never let it bother me, as I can't squeeze every penny from a trade. For me I have been successful as a short term trader, I do not hold anything more than hours or a few days, the most a few weeks occasionally when I see a big move.The most important thing I learned is to always cut your losses fast, never let a profit turn to a loss, and take your profit when you can, not when you have to. Sorry if I bored you with all this

No not at all, actually enjoy reading your tips and tricks.
    Yes indeed very true with what you said, but then again when does one decide I'm going to stop at 10 or I'm going to stop at 20 where do you set your maxpoint?

[myi]

There is a saying that you never go broke by taking a profit, and a profit here and another there adds to big money. Let me give you an e.g. I bought puts on 2 stocks, SNAP the July 5th 15 put and ROKU the July 5th 100 put. Twenty puts on SNAP , the stock went up against me one day then fell sharply, i got out today after holding for 2 days with a $650 profit. Now on ROKU the stock crashed today, I got out when it was down $4 and on 10 puts made $2600 , but the minute I got out the stock fell $3.5 more in less than an hour, i could have doubled my profit, but I never let it bother me, as I can't squeeze every penny from a trade. For me I have been successful as a short term trader, I do not hold anything more than hours or a few days, the most a few weeks occasionally when I see a big move.The most important thing I learned is to always cut your losses fast, never let a profit turn to a loss, and take your profit when you can, not when you have to. Sorry if I bored you with all this

What trading site do you use for bitcoins?
  I'm using the cash app which is extremely easy, not sure if the best place. But for now it seems to be working for me.

[ludmila]

What trading site do you use for bitcoins?
  I'm using the cash app which is extremely easy, not sure if the best place. But for now it seems to be working for me.

I trade BTC futures.

[myi]

I trade BTC futures.

Will take a peak tom. Wonder if they both have the same exchange rate?

[ludmila]

Will take a peak tom. Wonder if they both have the same exchange rate?

I covered my shorts with a very nice profit. I think BTC is very oversold here.I think either 10300 will hold, if not 9450.

[myi]

I covered my shorts with a very nice profit. I think BTC is very oversold here.I think either 10300 will hold, if not 9450.

Bitcoin is like a real yo-yo one day up 5,000 on some days down 6,000.
  I think I should do like you said as soon as I see a nice profit, I just take my money out, or set in advanced a mental stop like you recommended.

 When was up 13,000 I was ahead with a few dollars now I'm cutting even if I pull out.

[ludmila]

Bitcoin is like a real yo-yo one day up 5,000 on some days down 6,000.
  I think I should do like you said as soon as I see a nice profit, I just take my money out, or set in advanced a mental stop like you recommended.

 When was up 13,000 I was ahead with a few dollars now I'm cutting even if I pull out.

Correct. I use a system which is both technical and measures sentiment, learned this from the best trader ever who was featured in the Market Wizards book , we had to sign a nondisclosure never to reveal his methods, look at where I said in the previous low will the current bottom come, $10330, look at a chart, I pinned the exact bottom to the cent, the bottom was $1330, I went long futures there gain and I just got out with another big profit. The most important thing is to take profits when it is going your way and keep using a trailing stop to protect the profits, and to never let a loss get big enough to hurt.

[myi]

Correct. I use a system which is both technical and measures sentiment, learned this from the best trader ever who was featured in the Market Wizards book , we had to sign a nondisclosure never to reveal his methods, look at where I said in the previous low will the current bottom come, $10330, look at a chart, I pinned the exact bottom to the cent, the bottom was $1330, I went long futures there gain and I just got out with another big profit. The most important thing is to take profits when it is going your way and keep using a trailing stop to protect the profits, and to never let a loss get big enough to hurt.

Interesting, ay you should have warned me to pull out.

[ludmila]

Interesting, ay you should have warned me to pull out.

The problem is I trade short term, if you are in for longer term you might still see higher prices, as you said, BTC moves like crazy, scary!!

[myi]

The problem is I trade short term, if you are in for longer term you might still see higher prices, as you said, BTC moves like crazy, scary!!

When you do reach your trailing stop do you withdraw the funds and then wait for the stock to fall and invest again, wait for it to rise pullout, wait for it to fall and invest?

[ludmila]

When you do reach your trailing stop do you withdraw the funds and then wait for the stock to fall and invest again, wait for it to rise pullout, wait for it to fall and invest?

PM sent.

[ExGingi]

I saw somewhere today that 100% of traders are betting on a Fed rate cut on July 31st. (28% expecting a 50bps cut, and 72% expecting a 25% cut).

IDK, but this raises the contrarian emotions in me. Is there an easily tradeable way to profit by betting that the Fed doesn't cut rates on July 31st?