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Sunday, January 24, 2021

Practical tips on how to day trade The Ether Fund Class A units (QETH.UN) and other 3iQ Corp funds

This past Friday session, my non-registered portfolio closed at $121,859.97, my TFSA portfolio at $104,691.26, and my RRSP portfolio at $54,179.70. I now have accumulated over $600 in cash coming from dividend distribution inside my TFSA. I will soon have to think in what to invest that money. Aphria Inc. (APH) closed this past Friday on a good +2.74%.

I previously explain my situation with The Ether Fund Class A units (QETH.U). Now, since The Ether Fund trades in Canadian dollars, my investment in The Ether Fund Class A units (QETH.U), which was in US dollars, had been automatically converted into The Ether Fund Class A units (QETH.UN). This past Friday, QETH.UN closed on a nice gain of +8.148%. Currently, Ethereum (ETH-CAD) trades in the $1,812.414, which is really close to its highest value ever reached within the past 52 weeks: $1,864.7079. Early today, Ethereum (ETH) reached $1,864.708, which is quite good. Those are all super good positive signs that tomorrow at the opening, both The Ether Fund Class A units (QETH.UN) and The Ether Fund Class A units (QETH.U) will open the market with positive gains. I could have sold at profit back on January 19, but my profit would have been quite low. At that time, Ethereum (ETH-CAD) was trading at $1,813.20.

I had been stuck with my The Ether Fund Class A units (QETH.UN) since January 8, but tomorrow, I  may have all my chances to finally sell my units at profit. If not, I will be patiently waiting. My day trade hot move would have been extended for a couple of days, but it doesn't matter much, as long I can make my money. Here's to give you an idea of the correlation that certainly exists between Ethereum (ETH-CAD) and the trading value of The Ether Fund Class A units (QETH.UN) over the TSX.

On January 14:

On January 14, while ETH was at $1,530.92, QETH.U was trading at $24.40.

On January 22:

On January 22, while ETH was at $1,562.6571, QETH.U was trading at $25.30. 

It doesn't take much gain coming from Ethereum (ETH-CAD) to make The Ether Fund units gain in value. Trading 3iQ's The Ether Fund is, however, not an enjoyable task. The two buys order that I performed so far on The Ether Fund took long before going through, which is quite annoying. My first sell order was, however, performed smoothly and without any unusual delay. At now 10:19 pm, ETH value is at $1,807.1837. We'll see how it goes tomorrow morning at the opening.

1 comment:

Anonymous said...

Hopefully the provincial/federal govt's do not follow though on the 100% crypto tax, in other words, making crypto illegal.

Let along making all normal capital gains 100% subject to tax.


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