Trading Pub – 07 Nov 24

00:00: Considering a short trade on Tao, expecting a 50% pullback after a breakout, analysing for a potential 1-2-3-4-5 pattern.
01:35: Placing the Tao short trade with a stop loss around 534.2, targeting 482.6.
07:02: Closing a profitable Bitcoin election trade and discussing the overall market’s reflexive, mean-reversion behaviour.
10:34: Placing a short trade on Filecoin (FIL) with a stop loss at 3.856 and a take profit at 3.506.
17:28: Considering short trades on Render and DNX, but needs to check trade parameters on Mexc exchange.
24:02: Opening 4 trades with 0.05% max risk per trade, totaling 0.2% max risk. Will execute 10K per trade.
32:58: Placed trades for Render, Link, and Sol. Decided to skip the Quant trade due to resistance level concerns.
43:00: Elon Musk appointed to government efficiency role, plans to cut $2 trillion in annual spending.
46:00: Robert F. Kennedy Jr. plans to take on the FDA, unban natural remedies like psilocybin and ivermectin that were previously banned by big pharma.
52:00: Bitcoin price could reach $300K +/- $100K by end of 2025 due to massive government and institutional buying, leading to “”hyperbitcoinisation.””
01:01:25: The gas trade becomes more attractive when Bitcoin price is rising or stable, amplifying gains.
01:02:04: The alt market needs to be pumping for the gas trade to be viable. Ethereum’s rally against Bitcoin may signal the start of an alt market rally.
01:08:21: Bitcoin’s market dominance is expected to decline to 30-35% in this cycle as more coins gain traction.
01:25:16: Consider increasing meme allocations to 5-15% of portfolio, but maintain 60-90% in core positions.
01:28:53: Meme coins often peak early in the cycle, so rebalancing is important to capture gains.
01:31:57: Bittensor ecosystem is growing rapidly, with high subnet registration costs of over $1.5M currently.
01:42:29: Tao-Kaspa chart shows an ascending channel pattern, suggesting a continuation signal.
01:54:37: Unsure if Trump’s policies will be inflationary due to national debt growth. Expecting continued inflation regardless.
02:02:01: Polymarket founder interview was interrupted, but Shane Copland was about to share interesting insights before the interruption.
02:07:51: Expect volatility around Detil launch, as each subnet will have its own liquidity pool and token.