Crypto thread

Nice green candlestick on a 5 min chart but it has retraced almost 200 bucks already. That was a big market buy order, someone isnt very smart and overpaid on that spike.

I've got no skin in the game but I'll play along ! 

Why not get some skin in the game?

So what is this five failures over 7k in the last week or so? Ive not been wanting to trade it but geez seeing these 500 buck flip opps kind of ticks me off, I could almost have doubled my position just swing trading it.

You’d have to send it to an exchange, it’s too expensive to do that using coinbase 

Binance or KuCoin — both have leverage. Both places you need to take verification picture in your underwear holding your passport. 

Wall, I want to short Home Depot 

What’s the best platform for this? 

E-Trade? 

Say I deposit $4k for this one play. 

What’s the best way to go about this? 

I want to be in the trade for 6 months. I don’t want to get stopped out or liquidated if it has a  little pump. 

Explain to me like I’m 5 please. 

You need to have a margin account at whatever firm and have enough liquidity to short and then extra when it moves against you.

So there are requirements for short selling that firms have, you need X ammt of cash in the acct, it has to be a margin account so you will need approval to have a margin acct and then calculate the margin requirement and how many shares you want to short. Most big firms will have shares to short in a name like HD so it would not be difficult.

Keep in mind if the trade goes against you they can sell you out any time if you are below the margin requirement level AND getting funds wired in and settled is a slow process now. 

If you dont want to be stopped out then you would want to short fewer shares than the cash you bring in...that way you have room for the trade to go against you and not get called out. So 4k in cash would mean like 25 shares or so.

Got it, thanks 

I looked and trading via pro has a .5 percent fee on both sides (buyer or seller) which is outrageous...I am not looking for leverage rather cheapest and most effective trading options.

Having a 1% vig is steep for in and out trade...so much for cost effective alternative. The fact that efficiency and cost is not central and simple is a huge barrier to wide acceptance. I could understand if leverage were involved but if someone uses full cash it should be fast and cheap to transact and not have to open 10 accts and move things here and there and everywhere with delays and risks. Until this becomes fast and smooth and cheap I dont see how crypto can be more than a boutique endeavor.

I think you can swap crypto’s for free on Coinbase... Like BTC to ETH but to hop into a stable coin is ridiculous. 

USDT on KuCoin or Binance is what you want. 

I dont want a 1 buck tether...rather the execution/liquidity. speed, simplicity and low or zero fees. 

When I purchased all those energy stocks the other day I paid ZERO commish...yeah those jokers are selling order flow but there is enough liquidity and market depth that I dont feel like I am getting jobbed. If I were to have done the same trades in crypto I would have paid close to 1k in fees, maybe higher.

The fact that there is not a transparent, simple universal platform means that crypto cannot be widely offered or accepted and NO WAY to the little guy...way too many hoops and dangerous potential issues to be safe for the average guy.

Binance and KuCoin have what you want. 

They have liquidity, simplicity, and low fees.

The only thing that’s a little confusing is all of the pairs/wallets but you’ll figure it out.  

You’ll like their trading platforms 10x better than coinbase. 

Just send a little bit (.001 BTC) until you’re comfortable with sending it all over. 

I remember being really confused in the beginning. 

The liquidity on the USDT/BTC pairing is massive on these exchanges. 

You can place buy and sell orders... stop-limit, stop-loss and everything else you want including leverage. 

Good charts. 

I don’t really understand why you wouldn’t go there besides holding passport in underwear selfie again. 

Yeah that is why...I dont want 5 outs. I want one and I went through the bank verify and pic and ten hoops already. If I had known the fee structure was so poor I might have gone with one of the other two.

Coinbase pro has all the sell/buy options like Ameritrade for stocks and good charts and level 2 order info all that...but paying .5 percent for a trade is outrageous.

Yeah Coinbase is like fan service. Biggest name easiest to sign up but you will pay the price. 

I prefer binance 

Berkshire Hathaway sells huge block of Delta, Southwest Airlines 

Yeah ole Unkie Warren got a beat down and sold at a big loss...how amusing.

I saw the transfer fee for Coinbase is 1.5% on top of the buy and the sell fee. So how is this efficient and better for the individual again? You dont get out of there for almost 3% total transaction fee...talk about a major scam that means I am out 150 plus just for a simple one coin trade???

Absurd...seriously.

I'm far from an expert, but why wouldn't Robinhood be an option if you are looking for low fees? Since you are only buying the "price" and not transacting any actual BTC, why not just pay their small bid/ask spread and be done with it? I haven't run the numbers because I only bought 1% of a bitcoin, but it has to be a way better deal if your objective is to trade it and not be a prisoner to the 3% fees. 

I think I can on Ameritrade by purchasing the futures if I got around to having approval I suppose. I think Ameritrade and Think or Swim are the same company?

About 3,000,000 Americans die every year. 

How many Americans will die in 2020? 

I’m guessing about 3,000,000. 

Thoughts? 

Pneumonia deaths are plummeting in the United States. 

Why? 

Because they’re being reclassified as COVID-19 deaths. 

YouTube: 

Charlie Rose: Sir James Goldsmith interview - 15.11.94 

It helps explain where we are today.