iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,140 Blog Posts

Putting On a Smile

I shed 99bps today due to poor trading. For the week and for the month, I am now up 0.9%. I’d like to be up more and I would’ve liked today to be something extraordinary — but it wasn’t.

I shed 15.5% in my YOLO account due to an 200% leveraged position in AGQ. This is how black swan events happen. The reason I took the trade, mostly, is because I had been up 13% for the month. Now that account, which is about 1/10th the size of my trading, is down 6%. This doesn’t spell disaster and I have since closed out the AGQ position and chalked it up to a boneheaded move that will now serve as yet another lesson to avoid leverage into overnight trades that was already itself risky. Simply put, I got greedy and now have to work extra hard to make up for the losses.

The bigger news now is ETH on a rampage, fast approving $3k. With the new London HARD FORK, ETH are being burned. Thus far, over 5500 have been burned. This is causing a squeeze and I expect the price to ascend past $3k in short order. With it, BTC will dragged kicking and screaming. I like crypto derivative plays for a Monday pop, specifically BTBT, EQOS and MOGO.

Lastly, I had traded out of CELH and YOU and now bought them back. I will trade intra-day when they pop — but generally speaking — I want to remain long both of these stocks for the rest of 2021.

Have a good weekend.

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4 comments

  1. trumpmeister

    ETH is the greatest investment that I have ever made with Fly. That one investment has allowed me to have an incredible lifestyle of having a diff model blowing me every hour while I enjoy the world delicacies.

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  2. emersonlakepalmer
    emersonlakepalmer

    Enjoy those grasshoppers

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  3. trumpmeister

    No weekend break for Fly. Cryptos are now back and running wild again.

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