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Monday, January 4, 2021

My experiencing trading The Ether Fund (QETH.U): a $591.19 profit in only 2 business days!

Today, the TSX closed Monday session at a good 17,527.77 points. My non-registered portfolio closed at $110,329.85, my TFSA portfolio at $102,552.56 and my RRSP portfolio - stocks only - at $53,060.50.

This was certainly fun, but it didn't go quite smoothly as you could expect. As announced previously, back on December 31, I had invested in The Ether Fund (QETH.U) inside my non-registered portfolio, using my margin account money. I was hoping to sell on the same day, but it didn't happen. The idea of having to hold my The Ether Fund (QETH.U) units before being able to sell them at profit didn't bother me. I had done my searches to give myself a good overview, and I was confident enough to hold on to The Ether Fund (QETH.U) until being able to sell. However, the idea behind this investment was really to trade it, and make a quick hit-and-run hot move. 

Cryptocurrency is all new to me, but I can tell that the crypto world is a volatile one. Bitcoin and Ethereum both currently run in what is their highest value ever. What you need to remember is that both Bitcoin and Ethereum are held by millions of individuals who, just like yourself, are looking to make money. Following great gains like we are facing now for Bitcoin and Ethereum, sooner or later, these cryptos will eventually face some sell major off. That's the main reason why you should only invest the amount you can lose while trading cryptocurrency. That's why I did back on December 31, 2020, I invested in 100 units of The Ether Fund (QETH.U). QETH.U trades on the TSX. For me, The Ether Fund (QETH.U) represented the easiest way to trade more or less directly Ethereum (ETH). 

Today's chart for Ethereum (ETH) is looking a bit like this:

Please note that ETH today's range highest value was of $1,464.255 (on date of January 4, 2021, 7:28 pm Eastern Time). Yahoo might had experienced some problems to update its page, but that comprehensible knowing that cryptocurrency is trading around the clock, no time for maintenance lol. Are you noticing anything special? The Day's Range $1,464.255 exceeds, by little, but still, the Ethereum (ETH)'s 52 Week Range highest value, $1,454,2549. Not by much, but still. Never neglect the power of the cent. This is coming from the Yahoo Finance section, right here.

This is what Ethereum (ETH)'s overall chart look like:

Overall charts are really extremely important for me. You need to have a look at not only a 5 or 10 years chart but also the overall chart. If not, you won't have a look at what had Before investing in anything, my thing is to look at the chart. By overall chart, I mean the chart since the opening of X fund, X stock or... X cryptocurrency. For most stock, 2008 is a reference point. But for Ethereum (ETH), the reference date is 2018. If a stock or other investment that I have an eye on doesn't exceed its value of the pre-2008 stock crash, I probably won't be interested in investing in it. For a reason that I don't know yet, 2018 had been an important year for Ethereum (ETH). Currently, ETH is about to catch on to its old value of 2018. We are living another important event in Ethereum (ETH) history.

For that reason, I knew that this morning's market-opening was the perfect moment to sell my The Ether Fund (QETH.U) at profit. I had been careful not to miss the opening, which is at precisely 9:30 am. At exactly 9:30 am, I look at the value of QETH.U, and the units were trading at a majestic $21.66 US dollars! Please remember that yes, The Ether Fund (QETH.U) is being traded on the TSX, but it is trading in US dollars over the TSX!!! This matter makes it quite difficult to trade The Ether Fund (QETH.U). Let me explain. This morning, when I notice that my The Ether Fund (QETH.U) units were trading at $21.66, one second later, I was proceeding with my sell order. My sell order got registered, but it took several seconds before the order went through. This was quite frustrating. Usually, when I buy stocks that trade on the TSX, I place my order, and the second after, my order is being proceeded. It didn't happen like that with The Ether Fund (QETH.U) and I didn't understand what was going on, but then I taught: it's the fault of the US dollars currency that QETH.U is on!!! 

Without knowing anything, I am pretty sure that fact that QETH.U trades in US dollars is having a negative impact on the capacity to trade quickly QETH.U. The advantage of the TSX is that we have s smaller market. When you see a price for a stock, it might change a bite the second after, but not that much. However, while trading some volatile assets like The Ether Fund (QETH.U), when you place a sell order, you need to have it done quick, because its price may show up more volatility than your regular investments. A few seconds pass but during that time, I was trying to get in touch with my broker, without success. After a few seconds, fortunately enough, my sell order went through, and I was able to cash in, after commission fees, a cute little sum of $591.19. I couldn't believe it and I was quite excited!!

I will continue to watch Ethereum (ETH) and I may trade again The Ether Fund (QETH.U).

Other than that, I am patiently waiting for the JFT Strategies Fund Class A Units (JFS.UN) to declare its special dividend distribution for 2021. If I don't get any dividend from JFS.UN this year, I will be pretty disappointed.

On another happy note, I don't know if you have noticed, but this year in 2021, this blog is celebrating its 15th year! Let's hope for another - at least - 15 years of fun on the TSX!!!

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