Some investors have figured out that they can make a killing trading blockchain-related news.
The trading can be done with bitcoin BTCUSD, and other cryptocurrencies, or companies such as Overstock.com OSTK, AMD AMD, and CME CME. Some companies have been hyping blockchain, such as Marathon Patent Group MARA, DPW Holding DPW, and Riot Blockchain RIOT.
In spite of the opportunities, many investors are complaining that the losses on some trades are exceeding their profits on other trades. They’re blaming this on the market hitting their stops and then running the stock, getting out too early, a gain turning into a loss and so on.
My motivation in writing this column is to help investors who see the opportunities to make money but in practice are not able to be consistently profitable. I will answer frequently asked questions. To make it easy to learn, let us start with two real examples of how to trade blockchain and bitcoin stocks correctly.
Two real examples
Please click here to see the annotated chart of The Arora Report trade on Square SQ. In the interest of transparency, this is exactly the same chart that was published in “Ride the bitcoin wave with these 11 cryptocurrency-related stocks.” The annotations on the chart and the foregoing link describe how and when the trade was entered, stops placed and exited. The additional information that was available to The Arora Report subscribers was the position size, how to exit in tranches, various zones and Arora Trade Management Guidelines.
Please click here to see the annotated chart of Kodak KODK. For the sake of complete transparency, this is the same chart that was published in “Kodak’s monster gains show there’s a killing to be made by trading blockchain news.” Annotations on the chart and the foregoing link describe how and when the trade was entered, stops placed and exited….Read more at MarketWatch
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