Web Statistics The Sentiment Trader

Sunday, 25 June 2017

This high school dropout who invested in bitcoin at $12 is now a millionaire at 18


This high school dropout who invested in bitcoin at $12 is now a millionaire at 18

"This high school dropout who invested in bitcoin at $12 is now a millionaire at 18" 

in the news This high school dropout who invested in bitcoin at $12 is now a millionaire at 18? What this all about..... See below..

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erik finman
erik finman

Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks to his savvy investments in bitcoin and the current all-time high valuation, he won't have to get his degree.

"I can proudly say I made it, and I'm not going to college," Finman said.

He currently owns 403 bitcoins, which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum.

Bitcoin is very volatile, and the value could decline rapidly. A technical analyst told us he believes bitcoin will only go up to $2,800 before the value recedes, while others think it may reach $100,000 in a decade.


Finman thinks its best days are still ahead. "Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin," he said.

Bitcoin and the blockchain technology it is built on allow people to cut out the middleman, Finman explained. For example, an open source blockchain ride-share platform would allow users to power the service on their phones using peer-to-peer technology without a central hub. It would allow the drivers to get more money by cutting overhead costs, he added. It could also create the next evolution of the internet, one which wouldn't be reliant on servers.

The first time, he turned $1,000 into $100,000

Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott.

Though he's close with his family — which he calls the "Elon Musk version of the Kardashians" — growing up in "small town" Idaho outside of Coeur d'Alene wasn't easy. Finman was especially frustrated with his high school teachers, and begged his parents to let him drop out at 15.

"(High school) was pretty low quality," he said. "I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald's because that was all I would amount to for the rest of my life. I guess I did the dropout part."

Surprisingly, his parents — who met pursuing their Ph.D.s at Stanford — agreed. Finman sold his first bitcoin investments at the end of 2013, when they were valued at $1,200 a piece.

With the $100,000 Finman launched an online education company called Botangle in early 2014 that would allow frustrated students like him to find teachers over video chat. He also used the funds to move to Silicon Valley, did some fun things like meet Reddit co-founder Alexis Ohanian and traveled.

"I really liked Colombia," he said. "It was fun, but a little sketchy. Some interesting stuff happened. I was held up at gunpoint there, which is pretty scary, but I have this emergency button I programmed in Android that puts you on speaker but turns off audio automatically and dials [a local emergency number]."

"Maybe I'll turn that into an app," he added. "It's handy."



It was hard getting people to take a 15-year-old tech entrepreneur seriously, Finman admitted. He recalled being called in to interview with a "really, really high-up" unnamed Uber executive, who instead of listening to his Botangle pitch discouraged him and told him he would never win the bet with his parents.

Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing."

"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment."

Since then, Finman has been managing his family and his own bitcoin investments. He's also kept busy on other projects, including working with NASA to launch a rocket through the ELaNa project. One thing he won't do is go back to school.

"I never got my GED, and I don't see the value in it," Finman said. "The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people."

Although the rest of his family has degrees — his brother Scott went to Johns Hopkins at 16 and now has an enterprise software company, while his other brother Ross went to Carnegie Melon at 16 for robotics and is now pursuing his Ph.D. at MIT — he's happy learning about the real world from experience.


"The way the education system is structured now, I wouldn't recommend it," Finman said. "It doesn't work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia..

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Thursday, 22 June 2017

3 swing trading strategies that work


3 swing trading strategies that work 

"3 swing trading strategies that work " 

3 swing trading strategies that work? What this all about..... See below. 

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3 swing trading strategies that work ?  

First of all What is price action?

Swing traders look at price action as the art of looking at candles on their charts to determine the direction of a stock. Technical indicators can also be used, but mostly its about just looking at the price itself. 

Tip 1.  Identify support and resistance. 

If you can identify support and resistance levels in technical analysis you will realize this is the most important aspect to chart reading. How many traders pay attention to this. Well, the very good traders do!. Too many traders base their opinions on indicators such as Stochastics, MACD and other nonsense without realizing price pays, and the different levels of the chart are more important. 

Back 100 years ago, there was no such thing as indicators, and the top trader would go off the tap, and areas of support and resistance in the charts. In fact, this was the main reason technical analysis was born, as there is no other way to predict the price movements before they happened, but as soon as these terms were invented, it helped trader recognize familiar patterns, and enable them to trade and make consistent weekly profits without fancy software. 

Tip #2. Analyze the swing points

Swing points are often referred to as pivot points. These are the areas of a stock charts where important short term reversals take place. Not all these pivot points are created equal, so its mandatory that you base your decisions, on the most recent pivots points and not pivot points that occurred more than 12 years ago. 


Tip #3. Wide range candles are great. 

Wide range candles are candles that mark important changes in sentiment on every chart, and in many time frames. They market important points of price action where buyers and sellers disagree. They can often be used to mark important changes in a trend, or mark reversals. It’s a pattern that larger hedge funds or professional traders look for when watching and trading the markets. 

The reason this is a great thing to look out for a trader, is that in every time frame you can see the major reversals points, and it’s like a big green light for those traders who missed out on the initial major move. This is the point where a trader would then have the option or a second and third chance to get in

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Tuesday, 20 June 2017

Biotech breakout - biotech analysis


 Biotech breakout - biotech analysis

" Biotech breakout - biotech analysis" 

in the news  Biotech breakout - biotech analysis? What this all about..... See below. 

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So while everyone is concentrating on how the market is topping when it is clearly not, you can see that HEALTHCARE or biotech finally made a new high as well today. Have a look at the chart below. So for the first time in 2 years this laggard sectors has finally made a new high. 

Even though tech recovered, it was one of the best areas or better performers of the market today. 

Remember, that the S&P is up 17% - 18% since then, but what sentiment trader is showing our [==> members here <==] is the classic and text book pattern of an ascending triangle which could be one heck of a set up. 

That being said, let us explain what could be the beginning of important catch up in terms of longer term charts. After two years of pausing consolidation you can see higher lows, and the break of resistance pointed out on the chart you see below. That could represent one hell of a set up. See the chart below. 

ascending triangle pattern

What usually happens when the market takes off, and people miss out on that, they double back and find things to play and usually that means areas that lag, and recently we would be safe to say that the BIOTECH areas have been lagging. That is all this is, and there is a lot of catch up potential, and little downside risk, as shown in the ascending triangle.   


Remember just a few years ago, the biotech sectors was actually the best performing areas of the market. And after a huge consolidation investors are seeing this as fair value again, and that is the reason for the resurgence here, and much interest among larger investors. 



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