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PearToDaMoon, an interesting answer too. Which as you well know means I hold a slightly contrary POV. I generally agree with most of your post.
However as mentioned earlier I do not put all my money in one basket or fall in love with a share. My core holdings are mostly long-term investments, but I do confess I do use a portion of my trading account to go chasing the 'next shiny thing' either when I see a giant retrace (backed by research - as some do not recover) or see the potential for fast potential gains sometimes and purely based on hype. It doesn't matter to me if its hype or not, im in and out quickly.
But don't expect me to languish on Delacey island with my feet up sipping ****tails as us holders watch our wealth erode away. I like to be pro-active with my investments and react quickly to market sensitive news. Others prefer not to I know. But some are paralysed into doing nothing by stupid bullying on here about weak/strong hands, calling out trolls and rudders and they just sit back through some kind of misguided loyalty and watch there profits and hard-earned disappear.
Mister beck, interesting answer. Constantly chasing the next shiny thing isn’t my cup of tea but if it works for you, then go for it. I think most people here are capable of winning a trade now and again, but doing so consistently and profitably over several years is very difficult, especially if you maintain a large portfolio. Lots of traders however, will talk about their latest wins but few will reveal their previous losses. I remember during the BTC crash in May many people, including yourself, were calling for prices to go lower to 20,000-25000 region which never quite happened. Not sure what positions those people took, but it wouldn’t surprise me if they sold low and rebought high. But they never admit that publicly of course. Time in the market, as they say, is more profitable than timing the market for the vast majority of people, but if you have an edge then that’s good for you.
I think I’ll stick to a simple buy and hold strategy, investing in assets I believe in, allowing me the confidence to hold through periods of volatility. Less stressful that way and in my experience more profitable over the long term. Crypto is volatile like you say, which leads to not only wild swings in price movements but people’s moods. It’s amazing how the colour of one candle can affect people’s emotions. One red day and people turn pessimists crying tears of despair angrily shaking their fists at the world, and the next blue day they 180 into optimists calling for all time highs sending love letters to PW. Kind of amusing to watch, but I suspect that rollercoaster range of emotions is similar to how traders must feel on a frequent basis whilst constantly stuck in front of a screen being dragged up and down by each candlestick. I’d rather put my feet up, drink a cup of tea and do nothing but wait patiently allowing my investments time to develop and grow. If the investments one day change fundamentally for the worse, I may reconsider and revise. But this is on a fundamental level and not necessarily based on the daily price fluctuations which I know is nothing but noise.
Im no expert trader but I got a bit lucky today on QBT. You tend to catch wind of events from cross ramps + which stock is flavour of the month and the potential to move fastest. The whole crypto space has exploded over the last 6 weeks yet ARBs has gone backwards. Rather than back one horse I decided to jump in on a few infant and exciting crypto stocks which have reacted well to recent BTC movements + and have positive sentiment (and ramp). QBT has got a court case imminent and a positive result from that along with the new patent news then that really could motor. Timing is everything and for me you need to sense when a stock is getting too frothy and then exit quickly on a spike. If I get in a 25-40%. spike I will sell off half at 25% let the rest ride and sell the remainder off at 40%. It may go higher over the coming days but profit is profit and crypto stocks are notoriously volatile (ARB now being the exception) and so likely to go quickly back down on the slightest negative news. Not sure how ARB is going to find its legs again but I hope it does because it has great fundamentals but the IPO was a right mess up along with some very sly and disingenuous RNSs + concealment of news. Trust is hard to win back once its broken and we still need to know how the new machines will be paid for...
I will never understand the workings. £5 ml. bought, £3 ml. sold and we are down 8%. With a .8% spread instead of the usual 10%.
misterbeck, since you are a strong advocate of trading and appear to be quite good at it, do you mind sharing your next trade idea/setup? What's the next ticker, entry price and target price? Let's see how big your balls are.
Come on PW throw us a bone.
Machine update or something tmrw pls!
There’s no interest/volume in the US… it’s horrendous.
The botched IPO has put buyers off, and attracted short sellers. It’ll need some entirely unexpected and outstanding news to get this moving.
Ouch 112/116p
This is painful
*Chasing
Why explain something which is simply obvious, well to most anyway. And do try not worry yourself about it all, it will all come good. Happy Days.
Digging in with this now. Topped up a few weeks ago but still well under water.
No dry powder to keep cashing the hare either. so….holding for as long as it takes. No point in selling as if it goes flying it’s a bonus and to me it’s only currrntjy a paper loss…..
Think this will look very different in December onwards …,..
All those PIs with 'strong diamond hands' loyally locked in here and determined to miss out on opportunities elsewhere.
Enjoy your slow drift beneath the waves.
Muscle you don’t have to ask for me to respond, I know you love it really though. BTW, Gatti is in boiler room and his mouth is open and ready for his gobstopper, please go and oblige, I strained me muscles. It’s all just a bit of banter though....LMAO
Muscles, I can’t help but love a bit of prime and this one is a filet mignon...Mmmm
How do you feel Muscles, pumped up and ready to go....but go where I ask. Love you, mwah x
You just have to be patient and wait for the churning to abate. Then the SP will fly.
In the meantime GST and QBT leaving this lot behind.
Can take them seriously, you don't need to.
It could have been worse johnnykipper. You could have bought BEFORE the NASDAQ listing - like me! :(
Mid 120s is an excellent buy-in price and better than the majority on here. I'm sure it won't be too long before you're in the blue. For me it's potentially quarters, but more likely years.
I bought in after it had listed on the Nasdaq. Arb price was in the mid 120s. Bitcoin price was around $43,000.
Fast forward a month Bitcoin price now $58,500. Happy days! or so you would have thought!
You live and learn!
BTC ATH we are down now BTC going down no surprise this is going down more severely, what a load of rubbish, after 'IPO' this has continued to drift lower, oh know don't blame the 'IPO'
Not long under £1 welcome
K3,
Yes you are probably wasting your time and yes I don't have any explanation for the situation you mentioned and to be blunt I don't care. I invested in this share because I believed in the company and though that has been shaken a little lately I still believe the fundamentals are strong and if the great plans ARB have are executed I am confident the sp will go much higher.
What I don't care about is the day to day share price movement as far as my LTH is concerned and even less what trades are taking place on any day or what the position is with shorts etc. All this is just noise that at most may affect the sp today or possibly tomorrow - but not next month or quarter or year.
People focus on different things though so if they want to obsess about trades and shorts then fine but I'll focus on actual company news which hopefully will be very positive, very soon.
Hexam
“ To you maybe. I'm not saying the MMs are always above board, far from it, but I don't believe the almost daily mantra for months now that MMs are holding the price down (and on just about every stock too it seems if you read other boards).
To me it's just an excuse and people looking for someone to blame other than themselves or the company.”
Ok. So you have no explanation, as I thought.
Of course, market makers regularly walk shares up and down, so I can understand it being mentioned on other stocks. The difference with ARB is that they have a host of ready and willing institutional buyers, as Mike regularly documents, and occasionally, like yesterday, an inordinate amount of huge after hours and late reported trades. Plus, there are a whole load of negative opinions spreading fud with great intraday regularity.
Yes, I have other stocks that go down, but NO other stock has these characteristics. Anyway, if you can’t see that, I’m wasting my time.
ATB
"How do you explain the £8m late and late reported trades last night? Did a whole mass of PIs suddenly decide that the IPO price was too low and sell out within a couple of hours of each other? Why didn’t they sell yesterday, or the day before?
That is far more incredulous than MMs walking the price down."
To you maybe. I'm not saying the MMs are always above board, far from it, but I don't believe the almost daily mantra for months now that MMs are holding the price down (and on just about every stock too it seems if you read other boards).
To me it's just an excuse and people looking for someone to blame other than themselves or the company.
Hexam
“ I think though the stagnation has little to do with MMs (always a too convenient and incredulously frequent excuse) but could simply be down to the fall-out from the heavily discounted dilution plus no news of actual increase to hash rate since February which is an eternity in BTC mining.”
How do you explain the £8m late and late reported trades last night? Did a whole mass of PIs suddenly decide that the IPO price was too low and sell out within a couple of hours of each other? Why didn’t they sell yesterday, or the day before?
That is far more incredulous than MMs walking the price down.
LTH here but can understand the frustration with SP. Just try to be a bit more patient because in a matter of weeks Peter Wall and Argo will be allowed to bring out news updates.
My humble opinion is that they have stacked up multiple updates to release in quick succession over the first few days/weeks of November. Really do think patience will be rewarded - at the very least don't make any judgement until Argo are actually able to communicate properly with shareholders again.