Position Trading, Trading Against the Box, and The Basis

DO NOT TAKE THIS GOAT LIGHTLY . . .

I only learned last week what GOAT means in the urban dictionary . . . two separate followers informed me. . . I had no idea. . . my name selection was not deliberate . . . but I believe in divine providence and this is who I am. And I say this confidently . . yet with all humility. . . if you have ears to hear . . . I will teach you to trade bitcoin successfully.

POSITION TRADING IN BITCOIN

Everyone has different ways to define a trend. . . and how you do it is really not that important . . . because defining a trend is subjective . . . the important thing is to create a definition and stick with it. Probably a better term would be reference point. . . my reference point for bitcoin . . . or my definition of a trend in bitcoin is . . . trading above the two week high is an uptrend . . . trading below the two week low is a downtrend.

BITCOIN IS UNIQUE

I was weaned on the super inflationary commodity markets of 1973. Later, I learned currency and metals trading. In these markets I regarded position trading to be at least 3–6 month. . . many a time I held Swiss franc or copper positions well over six months riding a trend.

THE BASIS

Understanding the basis really helps knowing which way to lean. . . . and is a way to profit in a sideways market. When we were in backwardation . . . futures were what to buy. . . . you should have bot the futures under 6300. . . and it was this anomaly which persuaded me we would not break 6000.

THE EXTHIT IS ACCELERATING

(pronounced with a lisp and a weak wrist)

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Ugly Old Goat

Ugly Old Goat

Ugly Old Bitcoin Standard Bearer