I have had plenty of holds move against me after opening a position, and have a stop in mind. You must be the greatest trader ever to never held a losing position. There have been numerous huge moving stocks that have had healthy pullbacks only to rocket to new highs. An example for me is AAPL. After I bought that, quite awhile ago now it had one of it's larger pullbacks. I was comfortable with it and endured a bigger down move than I usually take, but it has paid off many times over. I could have created a tax event and a loss and reentered, but I chose to add to the position. I have taken plenty of losses over the years getting out of stocks that just failed and I didn't see the light to stick with those. Some were right some were wrong.
BTC & ETH down between 10-18%. Coinbase just follows cryptos. When their high margin trading ends they will be in real trouble.
Right. I meant they make a lot of money since they charge such a high commission to buy/sell cryptos. Eventually the commission will go to zero with competition just like it did with stock trading. Then they will just be another low margin financial. I still believe unless COIN becomes like ICE or CME they will just be a tracking stock for cryptos.
I'm still LOLing at those who bought this at IPO rip-off prices. Hate to say I told them so... but... well I told them so. It's still over-priced, considering crypto's hitting it bear market and things are going to get a lot rougher. Going to be less customers, and more competition is still trying to squeeze in. Slowly the market's waking up and starting to price that in. On the flip side at least it doesn't just puke up huge earnings losses like HOOD does.
OUCH, today has not faired well for COIN holders. Those original IPO bagholders who were given a second chance in November to use their get-out-of-jail free card are severely regretting it now. Been munching on popcorn all morning and watching the continuation of the horror show.
I have ended up doing what I don't do much of anymore and trading COIN. I have maintained 100 shares after each trade, but it has been a great daytrading stock.