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  1. #11
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    Cotton1's Avatar Senior Member
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    Bitcoin $11,300. Hit 13k and exhibited signs the product is truly coming into its own. Even better? It appears the investors are too. Anytime you have a " shakeout" correction in price down or rallies paranolic and " holy sht its rising in an exponential fashion" you are nearer to a sharp course change. Butcoin had a clear fibonacchi 2 resistance. A few years ago or even last year traders would panic buy blowing straight thru f2. Its known as "FOMO". Fear of Missing Out". But this time. Nice orderly march to f2/13k and boom, stopped. What does mean Cotton? It means different things to different people. Typically means less volatility which lowers margins if your futures trading. Also, less premium to sell or buy in the derivatives markets. Bottom line Cotton I dont have all day. " neither do I, bye". Moving on. Options can be used to manage risk , lock in profits , buy time if you are managing a taxable event or lose only half the ranch as opposed to all of it if you make an emotion based decision. Regardless of what you buy sell trade or hold heres the simple of it. Two factors rule markets. 1. Fear 2. Greed. Be the contrarian long term but short term trend = friend. Regardless of every definition at the end of the day its simply a game. A game played with numbers. The money is how you keep score.
    Playing the blues is like having to be black twice. Stevie Ray Vaughn missed on both counts. But I never noticed...BB King..

  2. #12
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    https://www-forbes-com.cdn.ampprojec...in-to-20000%2F

    FOMO. aka "Fear of Missing Out" ..14k breakout? We shall see..
    Playing the blues is like having to be black twice. Stevie Ray Vaughn missed on both counts. But I never noticed...BB King..

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    Newpublius's Avatar Senior Member
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    Quote Originally Posted by Cotton1 View Post
    https://www-forbes-com.cdn.ampprojec...in-to-20000%2F

    FOMO. aka "Fear of Missing Out" ..14k breakout? We shall see..
    Here's the thing about bitcoin. It's the epitome of speculation. You could buy it today and, for sure, it might go up. Bottom line, its NOT an income generating asset.

  4. #14
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    Quote Originally Posted by Newpublius View Post
    Here's the thing about bitcoin. It's the epitome of speculation. You could buy it today and, for sure, it might go up. Bottom line, its NOT an income generating asset.
    True. Its a pure balls to the wall spec play
    Dont put anything in it you can't afford to lose.
    Playing the blues is like having to be black twice. Stevie Ray Vaughn missed on both counts. But I never noticed...BB King..

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