This past week has been a week of firsts for me as I finally took the leap and started day trading a few cryptocurrencies. I have been long in a few since I began investing in Bitcoin and other cryptos back in January, but the day trading is totally new to me and allows me to use my mad math skillz to project entry and exit points (insert laughing emoji). The second theme of this weekly Friday article will be information related to the marijuana industry. I have to thank Kryptographyk for the educational YouTube video on day-trading cryptocurrency and my friend Barry for providing the marijuana article this week.
Day-trading was a good bit of fun and I watched the video several times to make sure I got the specific ranges down concerning moving averages. I started small and have only done three coins so far, but just like anything, the hardest part is getting started. I used the Bittrex exchange for my trading because it was very easy to use and plus that was the one Kryptographyk used during the instructional video. The three coins I started with were NEO, BLOCK, and VIA. I use 30-minute intervals; candlesticks; two moving average ranges with periods of 13 and 34, respectively; and set my type on each range to exponential. I am going to continue to use small amounts of Bitcoin until I get more comfortable, and just so you know, to trade all the smaller coins, you have to buy them using Bitcoin, which you will need to purchase first on Coinbase using your bank account or debit card. I will update you with my education and progress during my trials and tribulations related to different coins, scenarios, methodologies, and hopefully successes. Any suggestions and advice, as always, is much appreciated.
Now, since I live in the state of Colorado where marijuana is legal both for medicinal and recreational purposes, I thought it would be prudent to include some insights, opinions, and references each week on this highly controversial topic. The article I was referencing earlier from my friend Barry comes from an opinion piece from the Oklahoman.com where it definitely takes the side of “Against the Legalization of Marijuana” as you will see in the title “Five Years Later, Colorado Sees Toll of Pot Legalization.” Reading this article reminded me of watching the old Reefer Madness Movie where scare tactics were used to influence voters to keep marijuana illegal and criminal.
Most of America says marijuana is a personal choice, as evidenced by its legalization for medical use in 30 states and for recreational use in eight states and the District of Columbia. The article references some scary statistics for the state of Colorado such as the rise in homelessness, the increase in fatal crashes, and the increase in high school drug violations. Keeping these in mind, I thought it would be unfair not to include a reference that looks at both sides of the marijuana debate by comparing the top ten pro and con arguments for the legalization of marijuana from the website ProCon.org. So, I hope everyone enjoyed reading my articles this week and has a great weekend. I will be attending the Denver Day 4 Crypto Conference this weekend, so the content for next week should be even better. Prost!