FEATURED CONTENT

[Cash Out] Next IPO Poised to Pop!

Want a piece of the next Uber, Lyft or Pinterest when it IPOs?

Get your seat at the table and learn how you can capture these explosive moves before others!.

Join now to lock in Founding Member Pricing for a Limited Time!

Why not: Bitcoin and bitcoin stocks

Davis MartinDavis Martin ·

Why others are trading in bitcoin: it’s the hot thing, the headline maker. First Bitcoin Capital Corp. (BITCF) is up more than 2,000 percent this year (not a typo) and more than 14,000 percent over the last 12 months (still not a typo). Everyone is looking to cash in on what’s hot.

Why I’m not: Bitcoin will not pay you the way its supporters claim it will. While the success stories have been in the news, no one is talking about the big losers, because there are plenty of people who saw their accounts buried under all of that volatility. Every time a reputable expert says that bitcoin feels like a fraud, somebody is getting wiped out, without any regard to the technical set-up or the long-term potential or any other positive out there.

While some of my Raging Bull colleagues have traded bitcoin securities, I haven’t and I have no plans to, after seeing savvy, good traders I mentor admit their inconsistent results trading of it.

What I’m doing instead: As tempting as bitcoin might be, I’m a big believer in sticking with what works. For me, that’s trading high-volume securities with healthy options chains. Consistency is the core of trading, and there’s nothing consistent these days about bitcoin, except that it’s hard to find high-probability trades there.

The moral of the story: If you blindly enter something because it’s all over the news, you may well be buying a top, and get stuck in a sell off, losing a lot of money.

#-#-#

Davis Martin is the head trader at Dailyprofitmachine.com. He trades SPY calls and puts and swing trades individual stocks and stock options. He holds no shares, options or open orders in anything related to bitcoin, never has and doubts he ever will.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW