BC TRADING
Saved by @CodyyyGardner

THREAD: So I looked into angel investing (so you don't have to) and this is my personal experience with the #angelinvestor community.

This is not my area of practice, so this is my experience as an investor...

 (1) You generally have to qualify to be an investor. As part of the investment process you universally have to attest that this is fun moneys and you don't need for like 10 years and in fact don't need it ever because you'll probs never get it back.
So from the jump these are not traditional "investments", they are not part of a balanced portfolio and should be thought of as like a gambling allocation for a trip to Vegas or buying lotto tickets. You could win, but it's more for the fun along the way.
(2) It's actually NOT that fun along the way. If you invested in consumer products sometimes they'll do like kickstarter-type bonuses or discounts, but in general, it's like an e-mail once a quarter or even less frequently...
(3) The minimums. Most of the minimums for real angel investment funds with good terms is $25,000 or higher. ($50,000 seems more common.)

There are a few exceptions:
AngelList often has $1,000-$3,000 minimums.
And there are "crowdfunding" investment platforms like Republic, WeFunder and NetCapital with ~$99/100 minimums.
(4) The terms. LMAO. So the ACTUAL good terms are for the people who put in the $50,000 or people who put together the "syndicates" of investors (fund managers), who take a % of proceeds off the top.
There are a few key terms, namely the carry cost and the company valuation when you buy in (in theory, this increases over time).

Carry cost for many of the sites available to general public is ~10-20%.
The valuations for some of these companies are absurd and seem based on numbers pulled out of thin air. There are often no financials, much less audited statements, available before you invest.
(5) They also use false time pressures to encourage you to invest quickly and use metrics such as your proposals offered to investments made rate to "rate" you as an investor and your follow-on rate (doubling down on prior investments in subsequent rounds).
(6) The proposals and investor presentations are often total horseshit.

They fall into 4 categories.
(a) juvenile and just plain bad
(b) absurdly expensive ideas with no reason to believe they can execute on it
(c) flashy presentations for a terrible, fundamentally flawed idea
and (d) actually solid presentations for products that could succeed, with well-researched markets, and an executable plan. These are the very small minority.
Also, some of the ones that "sound" good only sound good to people with no basic background in that industry.

I can't tell you how many pharma/regulated healthcare product pitch decks I've seen that are dead on arrival or based on pseudoscience.
You also have very limited information about their patent portfolio and limited time to research viability from any perspective, but IP viability is kind of critical for some of these ventures.
(6) There's pretty much no liquidity. NetCapital (one of the crowdfunding things) has a secondary trading platform, as does EquityZen, but generally once you've bought in, say goodbye to your money until they decide to exit or fold (which you have zero input or control over).
(7) So who invests in these?

Absurdly rich people who don't give af.

People who want to pump up their resume so that THEY can become the fund managers and syndicate organizers and make money from convincing you to invest.
Vanity projects for people who want to say they're angel investors, potentially to convert into social media clout, consulting or an exec/start-up role or get funding themselves.
People who get bamboozled by the above categories of people.
(8) What do rich people but not absurdly rich people invest in?

I don't actually know, but based on a wholly anecdotal text survey of my rich friends, it's pretty much index funds. (Vanguard style)
Currently, my investments are: index funds/mutual funds small individual stock investments, revenue-producing real estate (x2), small "angel investments" for experimental purposes, and one major investment in my spouse's company.
In sum, I would not recommend angel investments at all, much less to new investors, unless you are thinking of it completely as a lotto ticket or gambling. Too many ways to get suckered, and very small chance of recouping the principal, much less recognizing gains.
OH, and of course I can't give you examples of the hilariously bad proposals, because they would boot me off the platforms (really).

But imagine shit like "an uber for X... BUT IN SPACE."

More from Trading

Peter McCormack \U0001f451
Peter McCormack 👑...
@PeterMcCormack
1/ Feels like a good time to tell the story of how I went from broke to a millionaire to broke again in 2017/18 again...

Yesterday was brutal for some people...

Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.

2/ The original thread is gone but you can read it here.

https://t.co/cLLNs75rB0

tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it

2 weeks from losing my house + no income. Oops.

3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.

If you are really in it for the tech, go and build something.

4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- Better traders than you
- People who can move markets
- Unknown information

And if you are trading with leverage you might blow up your account with the volatility.

5/ If you are not trading, you are investing. Okay, so what are you investing in?

I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
TRADING
Dr. Ellie Lockhart is the protagonist
Dr. Ellie Lockhart is ...
@BootlegGirl
OK, I guess I have a thing to say about the stock market. I have done kind of what these Reddit folks are doing with it, in that I have invested in the stock market when I was not at all rich, using parts of my paycheck that it probably wasn't wise to risk. I don't now. (thread)

But, like, it worked out okay for me. I even shorted some stuff. I didn't coordinate with anyone or whatever, but I don't think on the individual level the stock market is *inherently* malicious. If you're privileged, you're going to be exposed to it (through 401ks, etc.)

And I don't think it's wrong for people to try to make money off of it outside of the 401k/retirement context that's socially normal, *especially* if they're desperate like I was. There *are* strategies that you can use that, while risky, aren't exactly like gambling

Like, gambling is risky in a different way. You are always working with a fairly consistent set of probabilities in gambling, and they're never in your favor (outside of grey area gambling like between friends, where you could hypothetically actually still card count)

Anyway, like, on shorts: I don't think they're evil. I think they're dangerous. For an individual, a short always carries a small risk of individual bankruptcy. There's USUALLY not even a huge upside to them; they're not mystical or magical, they're basically reverse "longs"
TRADING
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Emperor\U0001f451
Emperor👑
@EmperorBTC
CHEAT-SHEET

Multiple Confirmation short.

A Short Entry that we shared in 2020.

Study it point wise.

1. Bearish Candle type and lowering of volume on Price rise.

2. OBV divergence.

3. Accumulation with Bearish candles and Volume increase on Price decrease.

STUDY IT!


Explanation

1. When price increases with a decreasing volume, it's bearish.

2. OBV, On Balance Volume should be correlated with price.
If price increases without similar increase in OBV, it's bearish.

3. During consolidation, if the volume increases during dumps, it's bearish
TRADING
Roshan Gupta
Roshan Gupta
@roshanmi2gmail1
7L for the day.
Capital deployed 1.5 Cr
TRADING
Anon
Anon
@AnonTrader21
A thread on getting intraday (any timeframe) data to excel without any coding. Limited to only last 60 days. Fetches from zerodha chart.

👇

1. Open the chart on zerodha web in chrome. Right click and select 'Inspect'. Click 'Network' as shown in this pic.


2. Right click on the last entry on the table you see and click 'copy as cURL (bash)'


3. Go to website https://t.co/f8rhwoGLUc and paste on the left box and click 'Run'

4. The output below candles written on right of box is the ohlc, volume and oi data. Copy and paste to excel.
TRADING

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A thread on HN about bad code in legacy projects both makes me think how little we've learned as a discipline over the years and, honestly, how little credit we give ourselves for some pretty major

Fun going down this list and thinking: "Hmm, plausible at a well-run modern software shop", "Hmm, possible, but requires implausible tradeoffs", "Literally disallowed by languages", and "If you were to attempt doing that our test suite wouldn't let you merge."

I think we as an industry celebrate (not quite the right word) failure too much and don't celebrate success nearly enough. There is no DailyWTF for competent execution, word of which generally stays pretty local to the source while incompetence passes into legend.

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TXgrlWatching\U0001f4bb\u2694\U0001f6e1
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