Yeah, Motown lectures me what seems like every week about the folly of trying to short bitcoin. He keeps attributing it to my "youth."
Let's see what he says. He's probably out bikeriding right now. Either that, or he is in his bathrobe hanging out on his porch yelling at the kids on his lawn.
Structurally itтАЩs much easier being long. ItтАЩs just the physics.
I wrote myself a memo a couple years back about how to be short. Readers digest version; buy one month puts after a huge squeeze. Wait 3 or 4 days and see if the sell off resumes. If it does, great. If not, sell the puts out for hopefully a small loss.
This has worked for me in the past. Your mileage may vary.
mtown looking forward to hearing your comment ;-)
It was that obvious? :)
Yeah, Motown lectures me what seems like every week about the folly of trying to short bitcoin. He keeps attributing it to my "youth."
Let's see what he says. He's probably out bikeriding right now. Either that, or he is in his bathrobe hanging out on his porch yelling at the kids on his lawn.
I know him too well...
Click on pic link below to see what Morris is up to:
https://1drv.ms/u/s!Av_wKZFdtnCKif5GGWu5ICTTi4zVlA?e=fNtEci
Structurally itтАЩs much easier being long. ItтАЩs just the physics.
I wrote myself a memo a couple years back about how to be short. Readers digest version; buy one month puts after a huge squeeze. Wait 3 or 4 days and see if the sell off resumes. If it does, great. If not, sell the puts out for hopefully a small loss.
This has worked for me in the past. Your mileage may vary.
I think the key is "wait for the huge squeeze."
That's the part people have trouble with. It always looks like the bull market is set to resume and they get sucked back in.
I am not shorting anything unless it feels like I am the only one dumb enough to fade it.
Thanks for sharing your strategy and get out of the bathrobe! There are kids on your lawn that need yelling at.