Stop-Loss-Plan-Loom-Network-Trade (Transcript)

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[00:00] Welcome to bit better have my money. I’m Mitchell stolen on A. I don’t even know what day it is. They choose Tuesday, according again, live from the wonderful, wonderful basement. I am wearing shorts today because my kids down here, so I can’t just sit around like I want to take a quick look at the trading portfolio. It is down to the lowest amount it has ever been a. we’re dipped below 3000, right? Two thousand $992. And one cent I actually checked to make sure because sometimes coin tracking doesn’t quite work right. And I actually had to update it. It was, it was a little bit higher until I had to check and update it and it actually fell so that, that was a awesome. But everything is down today in the trading portfolio except stellar lumens, which is up nine percent. Uh, looking at the biggest loser.

[01:07] Syndicator is down for. This is the 24 hour trend. We’re down 14 percent with syndicator. I actually own some more in my longterm portfolio simply because syndicator, they give you a alerts, I guess you could call them in telegram if you own a certain 5,000 in this case, if you don’t want a 5,000 coins, uh, they will send you alerts so they pull a whole bunch of people and see what they think and then they send out what the poll turned out to be. So for example, they could say like, do you think neil will trade under $5 by July fourth and no pole? Whole bunch of people. And if they think yes, they’ll tell you if they think no, they’ll tell you and they give you percentage. It’s kind of cool if they have a bunch of different tiers. The highest one, I can’t remember how many you have to own.

[02:09] It was a lot. I think it was like a mill maybe. I don’t know. Anyway, um, different tiers. The highest one you get like a trading bot. It’s pretty legit. But there was a little bit out of my price range. I’m going to actually see if I can find it here quick. But anyway, we’ll look at some of the other ones. Wobblies down 14 percent. Yeah, I mean, nothing really positive to show today, which with all the new, the hack, whatever people are saying about that, the fear, uncertainty and doubt, the fid going on it just little bit, little bit of everything going on market going down. Just kind of a red day. That’s about all I can say for that. Uh, so yeah, we’re looking syndicator syndicator bought one point. Oh, that is what a lot of people, if they can afford it, I believe we’ll try and get ’em.

[03:21] But Cinder gator bought. That’s the one I have. It’s not bad so far it’s coming. It’s getting better. So yeah, here we go. The syndicator bought syndicator the beginner, you have to have 5,000. That’s what I have. You get community choice indicators, a market events, things like that. The explorer, you have to earn 30,000 trader, you have to own 200,000 and the expert, you have to own 700,000. So quite a few on that, that’s for sure. But from everything I’ve looked into, this coin before, uh, there bought seems pretty legit. They’re indicators seem pretty legit. Uh, I wasn’t actually planning on talking about syndicator, but um, yeah, it’s, it’s actually pretty neat. I think longterm if they’re bought and indicators and everything turn out to be legit could be a really good coin. So that’s it for cents right now. So what is seven? I’m terrible at math.

[04:34] So let me bring up a 700. See it’d be like a million dollars. Something crazy like that. I wish I was good at math. So 700,000 times point zero, four $28,000, is that correct? Four, I believe so. 700,000 times point zero four? Yeah. 20 eight grand. We’ll get you the top level syndicator. So that’s pretty cool. It used to be much, much more. Uh, that was when the market was way higher anyway, with switch onto a different, uh, on chain fx here. Bitcoin at 6,500 down, four point three percent theory. I’m at 500. Um, yeah, nothing too big. The top, the top gainers for the day and on chain effects of finance, coin bnb up two percent. Wow. It’s a big day. Look out, look out everybody nano atop loser at 14 point two. One percent. I’m going to look here. That’s versus the dollar. I’m actually going to look.

[05:43] See what they are for against bitcoin and Bitcoin went down. There’ll be a couple on here like finance coin. It’s up two percent against the dollar. Up six point six, seven percent bitcoin lume lume went on a big jump yesterday. It was down and then I checked it and um, yeah, jumped up 18 percent and then I woke up this morning, jumped up another 18 percent. So that was pretty crazy. A coup coin. Shares barely up point five, seven percent. But anyway, a loom is a segue into kind of what I’ve been thinking about the last couple of days. So, uh, I, I found out about loom actually doing this on, on chain effects. Did some more research. I liked it. Figured, well why not? I’ll just do a small investment. Nothing crazy. Did like a hundred bucks, something like that. Maybe 120 a, so I started looking at price and it was hovering down around five.

[06:49] Yeah, 5,000 BTC or Sitoshi whatever you want to say. So I looking at it and it was going to have to, it Kinda had leveled off. It was going to have to move one way or the other. And so I bought in at, is it? Yeah, pretty much 5,005. Five thousand and five. So right there. And I watched it and of course how it usually goes, it fell, it fell. So I didn’t put all my money in at once. I was going to dollar cost and so I did, I watched it a little bit and a dollar cost and at 44, which I kinda, I wasn’t too confident in that. I kind of thought I could, could wait a little bit longer, but I didn’t. Uh, so it just got a little overzealous there when after it’s a, and it actually, it could have waited a long time and actually dropped to 3000.

[07:51] Uh, so it dropped quite a bit. And then yesterday it jumped up a ton. It went from 3000 all the way up to four and now it’s at 3,900. So right now my first buying, I’m down 22 percent second buying. I’m down 12 percent, which I’m not too worried about it because loom, I’m kind of looking at it as a long term hold. So in some of these longterm holds I do, I just buy it and I just kind of, I kind of walk away. But watching this one kinda got me thinking about stop losses. Uh, and I did some, some looking into it talk some people today, everyone has their own kind of opinion on where and how to do stop losses. So I talked to some people, some people did like 15, 20 percent and that initially is where I was thinking. I was thinking, all right, so do 15 percent when if you get the loss at 15 percent you sell and then you watch it and if it keeps falling and it falls another, a 10 percent or so, 10, 15 percent you can buy back in and you basically kind of evened out.

[09:02] So math, therefore you frick gotta hate math, so if you lost 15 percent, you sell, it drops another 10 percent, you buy back in, you basically kind of evened out because if you did not sell their, you’d lost a total of 25 percent, uh, and you kind of saved. You’re cutting out your losses basically. But if I would’ve done that, and I did actually think about that. I was thinking about selling it yesterday and seeing if it would have fallen, fallen lower and recoup some of my losses, but decided not to. I haven’t really messed around with it and I’m glad I didn’t because it went up. It went up a ton and I would’ve missed out on that. That’s one thing about stop loss. Does that kind of makes me nervous with the crypto market is so volatile, it’s tough, tough to say, tough to do.

[09:57] So here is what I kind of am looking at doing now, especially with the market the way it is. Things are falling so quickly and so heavily. So my plan is, and I’m probably going to experiment this, I’m going to watch loom, maybe move out of it, I might put in some more Fiat just to kind of experiment with it. Uh, but if, if I even out on loom on one of these binds, I’ll probably do it there. But. So what I’m thinking is find a, I’ve been watching some other coins and I may do it with like loom or I don’t know, one of these other coins that I do, like in case I get stuck. That’s what I like to experiment with the coins I do like. So if I, something goes wrong or I’m stuck in that trade, I don’t really care because I liked that coin.

[10:47] I’ve done that with power ledger a lot. I liked that coin. So it lets me learn. I’m not talking about large amounts of money. I’m thinking like 50 bucks, something like that. Maybe even less. But anyway, what I’m looking at for stop loss probably going forward, at least for now until the market come, comes back is I’m going to look at it, buy in. So we’ll just look at loom for free, for example, when it was sitting around 5,000 associates, it was just kind of sitting there and I knew that it was going to break one way or the other and I just kind of took a gamble and I gambled wrong. So what I should have done and what I’m going to do in the future is I am actually. I bought in at 5,005. I’m going to set stop loss for right now, five percent, five, six percent, but I’m thinking five percent.

[11:38] I’m going to make it pretty tight. And if it falls at five percent, my stop loss is going to kick in a. I’m not actually going to do that on the exchange. I’m not going to leave it on there because, uh, there can be flash crashes that do happen where all of a sudden it’ll just price with Bob bottom out. And if you have your cell odor in there, it will be sold. And then the weird thing about these flash crashes is that it skyrockets backup. And this is in a very, very, very, very short period of time. Uh, I believe it happened to with theory and people had their, um, it happened with other ones, but in theory it was a big one and people had their sell orders on there and yeah, it triggered their sell orders and they sold at a lower price and it, it, it skyrocketed back up really quickly I think even with like and within an hour, half hour.

[12:33] So I’m not going to leave the stop loss on the exchange. I’m going to monitor it through my phone, which I do anyway. And with Delta I can actually set an alert. So I’ll just set an alert for if it goes to five percent, there’s an app on my phone. Delta is really good. So I’m going to do it. Yep. I’m going to. If I buy in at that $5,000, we’ll just say I’m going to set an alert on my phone for five percent lower than that. If feeler gets triggered, I’m going to look sell five percent. Just take the loss and then I’m just going to watch it. If it just keeps falling, I’m thinking right now in my head were just looking at my loom here, five percent I sell to stop loss. I think if it follows another 20 percent then I’ll buy back in so it’ll save me if law about a 15 percent loss if I, if I just held at last, you know, 25 percent this way I’d only lost five and I’m buying back in lower.

[13:39] So that is kind of my strategy or plan going forward. So just to recap that sometimes I do ramble. I’m going to set a stop loss of five percent. Watch it. If it drops around 20 percent from there I’m going to rebuy back in and I could possibly dollar dollar cost average. I would like to hear I’ve did some research today and talk to some people. There’s tons of different strategies. I would like to know some, some other people’s strategies with that with stop loss. There’s different ways to do it and this is just kind of something I’m thinking about right now. Different ways I can do it. So yeah, that’s Kinda, that’s what I think about all day. During the days? Yeah. What can I say? I do like this stuff. It’s really interests me with that. Uh, I also, so I love horror movies that we’re going to move on to the movies here quick. I love horror movies there. I don’t know why. I’ve always always have my babysitter. When I was younger she had hbo so she, she would, uh, you know, this was eighties, 88, 8,900, 88 would have been like maybe 1990 around there. Anyway, she would record horror movies for me and then bringing them

[14:58] for me to watch when uh, when she babysat me during the day because that was the only thing that would make me behave. I would sit and watch a horror movie. Loved it, loved it. I do remember getting scared quite on some movies, not others, which is really weird. I remember Freddy Kruger, the, the, he licked her face through the phone and that really creeped me out thinking more creeped me out because of the spit on the tongue I don’t like, I don’t like that. I don’t like people’s like, like if someone licked my face, it just really grosses me out. But anyway, thing, the thing is probably my favorite horror movie of all time. It’s amazing. Kurt Russell. So good. A spoiler alert here. So get off if you, if you leave now,

[15:47] what’d you kind of hit that subscribe button anyway, onto uh, the thing. So I really love, love that movie. Watched it for the first time in college. We watched it three times in a row. So I’ve actually, I just learned this a few months ago and it made sense to me if you’ve watched to the end of that movie where Kurt Russell’s character and the other guy can’t remember his name. Uh, they’re sitting there and the fire, everything’s blown up and they don’t know if one of them is that we don’t even know if one of them isn’t alien. They’re both in alien. I assume they were both aliens. They would know, but we don’t know if one of them is they don’t know. Very intense. And Kurt, Russell’s character offers the other guy a drink of supposedly whiskey. The their character takes it pretty much ended the movie, but someone came up and I don’t know for sure, but I, I liked the, in the movie they apparently feel the liquor bottles with gasoline for Molotov cocktails and some people theorize that Kurt Russell actually gave the other character a bottle full of gasoline, not liquor, and the fact that the person did not know it was gasoline privacy’s and alien because he wouldn’t, he wouldn’t know that.

[17:16] He would know liquor tastes like anyway. If you haven’t seen a movie, check it out with that. Uh, yeah. Let me know. Stop loss. What you guys do. I’d love to know everyone’s different strategies with that. I’m going to try this one out. I’m going to try it with a small amount of money first. Play with it like that. Uh, and then there’s the five percent right now, once the market comes back, I’ll probably adjust it, the stop loss, but right now I’m going to try five percent. See how it goes. Maybe I tightened it. Maybe, maybe not a, but I will definitely keep you up to date on that without hope. You guys have a good day. Evening night. I’m going to try and finish my evil genius show. It didn’t work stupid. Netflix wouldn’t work last night and with that would you kindly hit that subscribe button and we’ll talk to you later.

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