QTUM' exploded the past few days, and though it has still not regained it's market share, it is quickly rising into the top 15 market cap. Now I am long term QTUM' as it has a great team and more importantly venture capitalists backing them including Roger Ver among many others.
Regardless of your feelings concerning Ver he was a visionary period! Proof? His bankroll!
The market is just becoming known to US' citizens and outside a few coins, most do not know much about the space. There are also Trillions sitting on the sidelines in the US' waiting to invest into something, and quite frankly the stock market is over bought at this time and pickers will be the winners next year by far.
Keep in mind stocks and equitites can remain overbought longer than most can be patient, and oversold longer than most can be liquid! Never bet against the market and never bet against visionaries!
Reality is QTUM' has run great along with several other coins the past few days. I locked in some profits on positions to reduce cost, and QTUM' is one of them.
Intent here as an Investor/Trader: To reduce cost per coin by shaving off some holdings and either trading a breakout to add, or cover my sells on a dip. I'm looking at overall market sentiment and it is very bullish right now.
A sale at $70 and buying back my coins at $75 would be a loss of $5 to those coins. However, I expect a pullback in the near term. I look to add in the $50-$55 area which would be a $20-$25 profit which I will use to simply increase position. So a 4/1 5/1 risk reward for me anyways.
Bottom line with the heavy hitters backing this coin, I would not be surprised to see it added to coinbase which will add to market cap.
Keep in mind I have strict rules when shorting (shaving off or selling) core positions for the longterm and though this is not a core position I am treating it here as such. I have a plan and a strategy to implement. This is a more complex strategy and involves several coins so it is not a simple buy here sell here, or short here buy here strategy. So my price levels may not be relative to another investor.
Regardless if it takes off and I miss the trade, or it pullsback to where I can add, it is never wrong to take profits in big moves so quickly like this.
Regardless of your feelings concerning Ver he was a visionary period! Proof? His bankroll!
The market is just becoming known to US' citizens and outside a few coins, most do not know much about the space. There are also Trillions sitting on the sidelines in the US' waiting to invest into something, and quite frankly the stock market is over bought at this time and pickers will be the winners next year by far.
Keep in mind stocks and equitites can remain overbought longer than most can be patient, and oversold longer than most can be liquid! Never bet against the market and never bet against visionaries!
Reality is QTUM' has run great along with several other coins the past few days. I locked in some profits on positions to reduce cost, and QTUM' is one of them.
Intent here as an Investor/Trader: To reduce cost per coin by shaving off some holdings and either trading a breakout to add, or cover my sells on a dip. I'm looking at overall market sentiment and it is very bullish right now.
A sale at $70 and buying back my coins at $75 would be a loss of $5 to those coins. However, I expect a pullback in the near term. I look to add in the $50-$55 area which would be a $20-$25 profit which I will use to simply increase position. So a 4/1 5/1 risk reward for me anyways.
Bottom line with the heavy hitters backing this coin, I would not be surprised to see it added to coinbase which will add to market cap.
Keep in mind I have strict rules when shorting (shaving off or selling) core positions for the longterm and though this is not a core position I am treating it here as such. I have a plan and a strategy to implement. This is a more complex strategy and involves several coins so it is not a simple buy here sell here, or short here buy here strategy. So my price levels may not be relative to another investor.
Regardless if it takes off and I miss the trade, or it pullsback to where I can add, it is never wrong to take profits in big moves so quickly like this.
Komen:
Bought back my position at $54 and added some. I think this could be a sleeper for coinbase.
