{"id":3621,"date":"2020-12-30T16:03:44","date_gmt":"2020-12-30T21:03:44","guid":{"rendered":"http:\/\/stockpicks4you.com\/?p=3621"},"modified":"2020-12-30T16:03:44","modified_gmt":"2020-12-30T21:03:44","slug":"why-i-do-not-trade-bitcoin","status":"publish","type":"post","link":"https:\/\/stockpicks4you.com\/index.php\/2020\/12\/30\/why-i-do-not-trade-bitcoin\/","title":{"rendered":"Why I Do Not Trade Bitcoin"},"content":{"rendered":"

Bitcoin is going parabolic again. I have no idea where it will stop this time. Last time I called the top in Bitcoin almost to the day. You can read about it here<\/a>. I do not sense the same mania phase.\u00a0 I do not know if most people realize this but there are Bitcoin futures. I have not traded them in some time. I trade on breakouts. Bitcoins breakouts almost complete the pattern the same day.
\n\"\"
\nFor instance, on a close above 20K it completed an ascending triangle. The problem for me is that it ran up so far away from the breakout point I could never get a good entry with a good stop in place.
\nEven on the longer term chart, I seen the head and shoulder pattern forming a few weeks back. I was never able to get a good entry point. The market just runs away.
\n\"\"
\nThe volatility is bad enough, but the leverage on this contract is too much. I would never be able to sleep at night.
\n\"\"
\nTo enter one contract requires over $49,000. I risk a very small percentage of my trading capital per trade. I know there are other exchanges that sell fractions of bitcoin, but the last thing I need is another account.
\nThere was a time when I thought Bitcoin was going to zero. My thinking has changed over the years. These cryptocurrencies might be around for a while. I have no idea what they are going to be used for other than a speculative vehicle. No one has yet to explain this to me. With price swings like this it will not be used as a currency.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is going parabolic again. I have no idea where it will stop this time. Last time I called the top in Bitcoin almost to the day. You can read about it here. I do not sense the same mania phase.\u00a0 I do not know if most people realize this but there are Bitcoin futures. … Continue reading Why I Do Not Trade Bitcoin<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11,7],"tags":[],"class_list":["post-3621","post","type-post","status-publish","format-standard","hentry","category-investing","category-philosophy"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9wXzO-Wp","jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/posts\/3621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/comments?post=3621"}],"version-history":[{"count":1,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/posts\/3621\/revisions"}],"predecessor-version":[{"id":3626,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/posts\/3621\/revisions\/3626"}],"wp:attachment":[{"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/media?parent=3621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/categories?post=3621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockpicks4you.com\/index.php\/wp-json\/wp\/v2\/tags?post=3621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}