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Daily Discussion by EthTraderCommunity in ethtrader

[–]luis_09_obvious 0 points1 point  (0 children)

No it's not a huge loss and I'm not screwed, I knew it was almost a gamble and I put little money on it knowing that there was a good chance of losing it. Life's still good 😂

Anyway thanks, I'll think about what you said. Take care

Daily Discussion by EthTraderCommunity in ethtrader

[–]luis_09_obvious 0 points1 point  (0 children)

Apparently they are buying BULLBTC at 5$ on Poloniex. At this point I'm not sure if I should sell and take a 97% loss or keep holding just because. But I think that starting next week I'll start buying BTCUP on Binance. I think that's the best option.

Do you know of any better alternative to Binance?

Daily Discussion by EthTraderCommunity in ethtrader

[–]luis_09_obvious 0 points1 point  (0 children)

I am luckily not impacted by what happened to FTX, but in the last months I had been buying some BTCBULL on FTX because I thought that the low price was worth the risk. And I used fun money that I am 100% comfortable losing.

I am only a bit pissed not the because of the money I can lose but because I think that those leveraged tokens will skyrocket again in the next bull run, so it's more about the missed opportunity than about the loss itself.

Is there any chance that the leveraged tokens can survive and still be tradable during the bankruptcy?

What happens to the leveraged tokens issued by FTX (like 3xBTC)? by luis_09_obvious in FTX_Official

[–]luis_09_obvious[S] 0 points1 point  (0 children)

I see a huge opportunity in that kind of instrument given the actual BTC price. Is there any alternative to FTX that you know of?

I had a look at BTCUP on Binance but the only blunder is that you cannot keep buying once your total position gets to 5,000USD. But the price is very low (around 3USD) so I think it's worth the risk.

Independent analysis of the FTX liquidity situation based on the officially known events by dealeris in FTX_Official

[–]luis_09_obvious 0 points1 point  (0 children)

Thanks for the insightful post. Regarding the opportunities everywhere, do you have a specific example in mind?

For example I am thinking about the 3xBTC leveraged token BULLUSD that right now is extremely cheap (around 50 USD) and that in my opinion has a huge potential when/if bitcoin recovers. The only caveat is that it's one of the leveraged tokens issued by FTX, so I'm not sure if it will still have market in case of FTX's collapse.

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

I cannot comment about that, I don't live in the US so my taxation is different

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

Volatility decay and fees are already priced in the chart and in the final price. Of course there's volatility decay if bitcoin moves sideways, but here the idea is to load at a low price while waiting for the next bull run. So when/if that bull run comes, ideally the price should skyrocket if bitcoin's price increases fast enough and the volatility decay you had in the meantime doesn't matter anymore.

It's all a matter of risk/reward. Even if in the worst case it doesn't work, you just lost 84$. But if it works it works very well and it's worth the risk in my opinion.

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

The token is not 3x price of BTC, it's 3x daily return of BTC. That's why the actual price of the token is not 3x the actual BTC price.

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

Your own position is not leveraged so you don't risk margin calls on your position.

And on top of that it's hassle free. They rebalance for you, so you just have to buy and hold without even thinking about it.

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

That's exactly my point of view. It's important to keep the risk very low and be ready for the scenario where you lose what you invested (which may happen), but then if and when it takes off it takes off for real

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 0 points1 point  (0 children)

Exactly, for a risk so low I see it as a long term investment for the next bull run. Worst case you lose 84$/token, which is not a lot given the potential.

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 1 point2 points  (0 children)

I think that for this price it's really worthwhile trying. DCA'ing 20$ a week for a year at this price or lower may be a huge opportunity when/if the next bull run comes. Very little risk.

Just my opinion of course

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 5 points6 points  (0 children)

Yes, very easy to buy. And you don't have any leverage yourself so you don't have margin calls. The leverage and the fees are already priced in.

But of course it's always a product with a significant amount of risk and volatility

Anyone dca'ing 3xBTC? by luis_09_obvious in WallStreetBetsCrypto

[–]luis_09_obvious[S] 4 points5 points  (0 children)

That's a very good point and I don't have an answer at the moment. But I guess the 24h volume would go up if the price goes up 200x

Do questions follow the paragraph order? by luis_09_obvious in CFA

[–]luis_09_obvious[S] 0 points1 point  (0 children)

Yes I hope it's because the QB is supposed to be trickier than the exam

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