Webinar Replay w/ Alex: If you haven’t checked it out yet, please watch the webinar I did with Alex, a lot of good info in there for traders of all levels, and some background about my story and who I am. Watch here.
Webinar #2 here.
Webinar #3: Here
There’s also a special Black Friday sale going on for those interested in getting involved with IU, which you can find here.
Also if you haven’t seen yet – I’ve recently started an Audio-Blog series! Where I narrate all my favorite blog posts for you guys. You can find that here.
Pretty hard to ignore the crypto elephant in the room. One of my very least favorite things to do is trade the “hot name” everyone is trading – but it’s unavoidable right now. Lets look at the main one’s and touch on them briefly.
XNET: Man…this thing. I’ve done very well avoiding it, taken a few papercuts but nothing major. Here’s my thoughts. First of all, it’s not even blockchain, it’s sketchy, there’s so many things wrong with this run up I wouldn’t know where to begin explaining it to you, however, the reality is still we are where we are. The way I’m going to approach it is this: WAIT for the first red day. Then try pops the following day. Because if you remember last week Tues & Wed they let it open weak and just kept on trapping more shorts. So i’m going to avoid the temptation of shorting any weakness tomorrow and wait for this thing to put a damn red day in…what an incredible run. That’s really how I’m going to treat ALL of these names, I’ll put their charts up but the discussion is exactly the same. It’s just like shipper madness, they’re all going to continue to feed off one another until one starts unraveling and then all will follow. So stay patient, and avoid the initial temptation to load up short, as so far it’s been nothing but traps traps and more traps.
RIOT: Same deal as XNET. This one is even worse than XNET in some ways actually, but at least it’s Blockchain. Do some homework on this guy. You will laugh your ass off. BUT…we can’t ignore reality. They can go way father than we expect, as already exhibited.
MARA: Same deal as XNET RIOT.
Those are really the 3 I’m watching, SRAX too. So that’ll be focus this week. CHILL out…let them trade, and wait for confirmed, continued weakness…not charging in guns a blazing first red 1-minute candle. They’ve all been trapping machines. DON”T fight them, DONT add to losers on these, and you’ll be fine. They’re going to present a hell of a short opportunity soon. Just make sure you don’t get eaten alive in the meantime, stay smart.
If you’re not an IU member and would like to become one, there’s still a Black Friday sale going on here, along with the webinar sale posted at the top. I highly recommend getting the DVDs – they truly are where I learned most of what I know, and the most significant piece of education I was able to draw from early on in my trading career. If you’ve read my blog or know anything about me, you know I’m not a bullshitter – so I really mean that about Nate’s DVDs. They helped me tremendously. Also If you’d prefer a shorter time commitment to see if you like IU, you can go monthly as well here.Shoot me a PM anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss trade ideas with you.
See you out there!
– D
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