Section IV.M.2.b.xxx: Arm Holdings Public Limited Company - American Depositary Receipt (ARM)

[Jatslo]

Navigating the Semiconductor Surge: A Trend Following Analysis of Arm Holdings' Stock Performance
The analysis will comprehensively examine Arm Holdings' financial performance, strategic market positioning, and the effectiveness of trend following strategies applied to its stock, providing insights into its valuation, investor sentiment, and future prospects in the semiconductor industry up to August 2024:



Financial and Strategic Analysis of Arm Holdings Public Limited Company

Abstract

This abstract provides a concise overview of an in-depth financial and strategic analysis of Arm Holdings Public Limited Company (ARM), focusing on its performance and market positioning up to August 2024. ARM, renowned for its semiconductor intellectual property, has shown robust growth with a revenue increase of 20.68% in 2023, reaching $3.23 billion. Despite a significant share price drop following a tepid revenue forecast, ARM's intrinsic value suggests an overvaluation by 68% compared to its market price, indicating potential market speculation or future growth expectations. The analysis delves into ARM's trend following strategy, exploring its application through various case studies that highlight ARM's stock performance against market trends. Additionally, insights from X posts reflect a mixed sentiment, with some users highlighting ARM's strategic moves in AI and machine learning, while others discuss its financial metrics and market positioning. This paper will explore ARM's financial health, strategic market moves, and the implications of its stock performance for investors, providing a comprehensive view of ARM's current standing and future prospects in the highly competitive semiconductor industry.

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Papers Primary Focus: Trend Following Strategy Applied to Arm Holdings Stock Analysis

Arm Holdings, a British semiconductor and software design company, has established itself as a cornerstone in the global technology landscape, particularly noted for its ARM architecture, which powers a significant portion of the world's mobile devices, IoT gadgets, and increasingly, data centers. The company's influence stretches across various sectors, making it a pivotal player in the semiconductor industry. This influence is not only due to its innovative designs but also because of its strategic positioning in the tech ecosystem, licensing its technology to companies that produce chips, rather than manufacturing them itself.

The importance of ARM in the semiconductor industry cannot be overstated. With over 250 billion chips shipped that incorporate ARM technology, the company's designs underpin much of the modern computing infrastructure. This ubiquity stems from ARM's focus on energy-efficient computing, which has become increasingly vital with the advent of mobile computing, the Internet of Things (IoT), and now, artificial intelligence (AI) applications. ARM's technology enables devices to perform complex tasks while conserving power, a critical factor in today's battery-operated world.

American Depositary Receipts (ADRs) are a mechanism through which foreign companies like Arm Holdings can offer their shares to American investors. ADRs represent the foreign company's shares, but they are traded in U.S. markets in U.S. dollars, making it easier for American investors to buy and sell shares without dealing directly with foreign exchanges or currencies. For Arm Holdings, the issuance of ADRs not only broadens its investor base but also enhances its visibility and liquidity in one of the world's largest capital markets, facilitating easier access to capital for growth and innovation in semiconductor technology.

Arm Holdings, originally spun off from Acorn Computers in 1990, has carved a niche as a global leader in semiconductor intellectual property (IP) design. The company's journey began with a focus on Reduced Instruction Set Computing (RISC) architecture, which was initially utilized in the BBC Micro and later in mobile devices, notably the Nokia 6110 in 1994. This early adoption set the stage for Arm's dominance in mobile computing, with its designs becoming ubiquitous in smartphones and tablets, capturing over 95% of the market share by 2012.

Arm's business model revolves around licensing its IP rather than manufacturing chips itself. This model allows Arm to earn revenue through fixed upfront license fees and variable royalties, typically ranging from 1% to 2% of the chip's selling price. This approach not only minimizes the capital expenditure required for manufacturing but also positions Arm as a technology provider to over 1,000 global partners, including giants like Samsung, Apple, and Microsoft. The revenue model has proven lucrative, with Arm reporting a significant revenue increase to $3.23 billion in the fiscal year ending March 31, 2024, marking a 20.68% growth year-over-year.

In terms of market position, Arm's technology underpins much of the world's computing devices, from smartphones to data centers, emphasizing energy efficiency and performance. However, its market is not without competitors. Companies like Intel, AMD, and Qualcomm also vie for market share, though Arm's focus on RISC architecture and its widespread adoption in mobile devices give it a unique edge. Despite this, the semiconductor industry's volatile nature, influenced by technological shifts towards AI and IoT, keeps competition fierce. Arm's strategic acquisitions, like the investment by SoftBank in 2016 for £24.3 billion, underscore its value and the competitive landscape it navigates, aiming to maintain its lead in an ever-evolving tech arena.

American Depositary Receipts (ADRs) are financial instruments that represent ownership in the shares of a foreign company, allowing these shares to be traded on American stock exchanges. Essentially, ADRs simplify foreign investment for U.S. investors by converting the foreign shares into a format that's more accessible and manageable within the U.S. financial system. An ADR is issued by a U.S. bank or financial institution, which holds the actual shares of the foreign company in custody. Each ADR can represent one or multiple shares of the underlying foreign stock, depending on the arrangement between the issuing bank and the foreign company.

For Arm Holdings, its ADRs function by providing U.S. investors with a direct way to invest in this British semiconductor company without navigating the complexities of the London Stock Exchange or dealing with currency conversion issues in real-time. Arm's ADRs are listed on NASDAQ, making it straightforward for American investors to buy, sell, or hold shares as they would with any domestic company. This listing not only broadens Arm's investor base but also enhances its visibility and liquidity in one of the world's largest capital markets.

Investing via ADRs offers several benefits, including the convenience of trading in U.S. dollars, avoiding the need for currency exchange, and the familiarity of U.S. trading hours and regulations. However, there are also risks involved. These include exchange rate risk, where fluctuations in the value of the foreign currency against the dollar can affect the ADR's value, and political or economic instability in the foreign company's home country. Additionally, while ADRs are subject to U.S. securities laws, they might not offer the same level of transparency or regulatory oversight as domestic stocks, depending on the level of ADR program (ranging from Level I to III, with increasing regulatory requirements). This can sometimes lead to less information available to investors compared to U.S.-based companies.

Trend Following Strategy Overview

Trend following is an investment strategy that seeks to capitalize on long-term market trends by entering trades in the direction of the current trend and exiting when the trend reverses. This approach is rooted in the belief that financial markets exhibit trends that can persist over time, offering opportunities for profit if identified and followed correctly. The core principle of trend following is simplicity itself: "The trend is your friend." Traders employing this strategy use various indicators like moving averages, the Average Directional Index (ADX), and trendlines to identify the direction and strength of trends. The strategy's effectiveness lies in its ability to mitigate risk by cutting losses quickly when trends change, while letting profits run during favorable market movements.

Why ARM is Suitable for Trend Following Analysis

Arm Holdings, with its pivotal role in the semiconductor industry, particularly through its ARM architecture, presents an intriguing case for trend following analysis. Firstly, the semiconductor sector, driven by technological advancements and consumer demand, often exhibits clear, long-term trends influenced by product cycles, technological breakthroughs, and shifts in consumer electronics. ARM's technology, being at the heart of these trends, benefits from the sector's growth, making its stock price a potential candidate for trend following.

Moreover, ARM's business model, which focuses on licensing rather than manufacturing, provides a relatively stable revenue stream, albeit with fluctuations due to licensing deals and industry cycles. This stability, combined with the sector's volatility, creates an environment where trend following can be particularly effective. The strategy allows investors to ride the waves of growth in mobile computing, IoT, and AI, where ARM's technology is deeply embedded, while also providing mechanisms to exit or hedge during downturns or when the sector faces headwinds. Thus, ARM's strategic market position and the nature of its business make it an exemplary candidate for applying trend following strategies, offering both the potential for significant gains during uptrends and manageable risk during downturns.

Historical Performance Analysis

When examining the historical performance of trend following strategies, it's crucial to segment the analysis into short-term, medium-term, and long-term trends to understand the strategy's effectiveness across different time frames.

Short-term Trends involve daily and weekly market movements. Trend following in this context often leverages quick market reactions to news or economic data, aiming to capture small but frequent gains. For instance, a case study might involve a strategy that buys when a stock or index breaks above its 20-day moving average and sells when it falls below, capturing the momentum of short-term market sentiment shifts. These strategies require tight risk management due to the inherent volatility, often using stop-loss orders to mitigate losses from rapid market reversals.

Medium-term Trends typically focus on monthly trends, where the strategy might look for signals over a period that smooths out daily noise but still captures significant market moves. Here, a case study could explore a strategy that uses a combination of the 50-day and 200-day moving averages to identify trends, entering trades when shorter-term averages cross above or below longer-term ones. This approach might have captured trends in sectors like technology or commodities, where trends can last several months, offering substantial returns but also requiring patience and a tolerance for drawdowns during consolidation periods.

Long-term Trends delve into yearly trends, focusing on macroeconomic shifts or long-term industry growth cycles. A strategy might involve investing in sectors like renewable energy or tech, which have shown persistent growth over years. Case studies in this category could include investments in companies like Amazon or Tesla, where long-term trend followers would have benefited from holding through multiple cycles of growth, despite occasional significant corrections. These strategies often outperform in bull markets but require robust risk management to survive bear markets, potentially using broader market indices or sector ETFs to diversify risk.

Across these time frames, trend following strategies have historically demonstrated an ability to capture significant market moves, though with varying degrees of risk and return. The key to success lies in the consistent application of entry and exit rules, diversification across assets, and adaptive risk management, which together allow trend followers to ride market waves while minimizing the impact of adverse trends.

Key Trends and Events

The semiconductor industry, with Arm Holdings at its technological forefront, has been navigating through a sea of advancements and challenges in 2024. Technological Advancements have significantly impacted ARM, particularly in the realm of AI and machine learning. ARM's architecture, known for its efficiency, has become increasingly vital as the demand for AI-driven applications grows. This trend is not just about enhancing existing technologies but also about pioneering new ones, like edge computing and autonomous systems, where ARM's low-power, high-performance designs are pivotal. The integration of ARM's technology into these cutting-edge areas has not only bolstered its market relevance but also its stock performance, reflecting investor confidence in ARM's strategic positioning in tech's future.

Regulatory Changes have cast a long shadow over the semiconductor industry, affecting ARM indirectly through its partners and directly through compliance requirements. The year 2024 has seen heightened regulatory scrutiny, especially concerning data privacy, security, and the ethical use of AI. New regulations like the EU's AI Act and discussions around the US AI Bill of Rights have set a precedent for how technology, including semiconductor design, must evolve to meet these standards. For ARM, this means ensuring that its technology can adapt to these regulatory frameworks, which might involve redesigns or additional features to comply with privacy or security mandates. These changes, while posing short-term challenges, could also open new markets or applications for ARM's technology, potentially stabilizing or even boosting its stock value as it positions itself as a leader in compliant technology.

Market Shifts have been equally influential on ARM's stock. The semiconductor industry's volatility, driven by economic cycles, geopolitical tensions, and shifts in consumer electronics demand, directly impacts ARM. For instance, the rise in electric vehicles and the push towards sustainability has indirectly benefited ARM through increased demand for efficient computing solutions in automotive sectors. Moreover, the market's pivot towards cloud computing and data centers, where ARM's designs are increasingly adopted for their power efficiency, has been a tailwind for ARM's stock. Conversely, any downturn in the tech sector, or specific segments like smartphones, could pressure ARM's stock due to its heavy reliance on these markets. The interplay of these market dynamics with ARM's strategic moves, like partnerships or technological innovations, creates a complex but potentially rewarding environment for investors, reflecting in the stock's volatility and growth potential.

Application of Trend Following

Trend following in investing, particularly in the context of Arm Holdings or any other asset, involves a systematic approach to capturing market movements. Entry and Exit Points are crucial in this strategy. Identifying entry signals often involves recognizing when a new trend might be forming or confirming an existing trend's continuation. For instance, when a stock like Arm breaks out above a significant resistance level or a moving average, it might signal a buy opportunity, suggesting the start of an uptrend. Conversely, exit strategies are designed to protect profits or limit losses. These could be based on trend reversal signals, like a price drop below a moving average or a significant support level, prompting a sell or short position.

Risk Management is the backbone of trend following. Position sizing, where an investor decides how much capital to allocate to each trade, is critical. This decision is often based on the volatility of the asset, the investor's risk tolerance, and the overall market conditions. For instance, a trader might allocate a fixed percentage of their portfolio to a position in Arm, ensuring that no single trade can devastate the portfolio. Stop-loss strategies further enhance this by setting predefined points at which to exit a trade if the market moves against the position, thereby capping potential losses. These stops might be placed below a recent low or at a percentage below the entry price, tailored to the stock's volatility.

Performance Metrics in trend following are assessed through returns analysis and understanding drawdowns and volatility. Returns are not just about the profit but also how these profits are achieved over time, considering the risk taken. Trend following strategies aim for significant gains during strong trends, which can lead to high returns but also come with periods of drawdowns where losses accumulate before a new trend begins. Volatility in trend following can be high due to the nature of capturing market movements, which requires investors to have a strong stomach for fluctuations. However, over longer periods, trend following has historically shown the ability to outperform buy-and-hold strategies, especially in markets with clear trends, by capturing significant portions of these trends while minimizing exposure during sideways or choppy markets. This performance is often measured not just by average returns but by the Sharpe Ratio, which accounts for risk-adjusted returns, giving a clearer picture of the strategy's effectiveness over time.

Case Studies

Case Study 1: ARM's IPO and Initial Market Entry

Background: Following its initial public offering (IPO) in 2023, Arm Holdings experienced significant market attention, driven by its foundational role in the semiconductor industry, particularly in mobile computing and IoT devices.

Strategy Application: Trend followers who entered positions in ARM during or shortly after its IPO utilized strategies like breakout trading, where they bought when ARM's stock price broke above its initial trading range or moving averages, signaling a potential uptrend.

Outcome: The strategy initially paid off as ARM's stock surged, reflecting investor optimism about its growth prospects in AI and data centers. However, as with many IPOs, the stock faced volatility, testing the resilience of trend following strategies with sharp pullbacks. Those who adhered strictly to trend signals managed to capture significant gains during the uptrends but also faced periods of drawdowns when the market sentiment shifted.

Case Study 2: ARM's Performance During a Tech Sector Downturn

Background: In early 2024, the tech sector faced a downturn due to regulatory concerns and shifts in investor sentiment towards more sustainable investments.

Strategy Application: Trend followers here might have used moving average crossovers or the MACD indicator to navigate this period. For instance, when ARM's stock price crossed below its 50-day moving average, it signaled a potential downtrend, prompting trend followers to either short the stock or exit long positions.

Outcome: This approach allowed investors to avoid significant losses during the sector's downturn. However, it also meant missing out on any quick recoveries or false signals. The key takeaway was the effectiveness of trend following in protecting capital during adverse market conditions, showcasing its utility as a risk management tool.

Comparative Analysis

Comparing these case studies, different trend following approaches on ARM highlight the strategy's adaptability. In bullish scenarios, breakout strategies or momentum-based entries could maximize returns by capturing the initial enthusiasm around ARM's growth narrative. Conversely, during bearish or volatile periods, strategies focusing on moving average crossovers or indicators like MACD provided clearer exit signals, minimizing exposure to downturns. The comparative analysis underscores that while trend following can be profitable, the choice of strategy needs to align with the investor's risk tolerance and the specific market environment. ARM, with its volatile yet fundamentally strong position, serves as an excellent case for studying how trend following can be both a high-reward and high-risk endeavor, depending on the strategy's execution and the broader market context.

Market Context and External Factors

The market context for ARM's IPO and initial market entry in 2024 is shaped by a confluence of economic conditions, industry-specific trends, and geopolitical risks, each exerting its influence on ARM's strategic positioning and investor sentiment. Economically, the global landscape is characterized by a cautious recovery, with growth projections hovering around 1% for developed economies, as per insights from Deloitte. This slow growth environment, coupled with anticipated central bank rate adjustments, suggests a market where capital is seeking both safety and growth, potentially favoring tech sectors like semiconductor design due to their role in driving future technologies. Interest rates, although expected to remain higher than pre-pandemic levels, could still offer a relatively low cost of capital, making tech investments like ARM's IPO attractive for long-term growth.

Industry-specific factors further enhance ARM's market context. The trend towards increased chip complexity, driven by demands from AI, IoT, and mobile computing, places ARM at the heart of technological innovation. ARM's architecture, known for its efficiency, is pivotal in these sectors, where power consumption and performance are critical. The demand for mobile devices and IoT solutions continues to soar, underpinned by consumer trends towards smart homes, wearables, and autonomous systems, all of which rely heavily on ARM's technology. This demand not only supports ARM's current market position but also forecasts a robust future, assuming continued innovation and market expansion.

Geopolitical risks, however, cast a shadow over this optimistic outlook. The ongoing trade tensions, particularly between the US and China, alongside broader geopolitical conflicts, introduce uncertainties regarding supply chains, tariffs, and intellectual property rights. ARM, with its global supply chain and partnerships, could face disruptions or increased costs due to these tensions. Intellectual property issues, especially in technology, could also become more pronounced, affecting ARM's ability to license its technology freely across borders. These geopolitical dynamics not only influence ARM's operational landscape but also investor confidence, as they navigate through potential regulatory changes or market access restrictions.

Thus, while ARM's market entry is buoyed by strong industry trends and economic conditions conducive to tech growth, the overarching geopolitical environment introduces a layer of risk that investors and ARM itself must navigate carefully. This context underscores the need for strategic foresight, robust risk management, and perhaps most crucially, adaptability in ARM's business model to thrive in an ever-evolving global market.

Risks and Considerations

When considering an investment in Arm Holdings through its ADRs, several risks and considerations come to the forefront, each presenting unique challenges for potential investors. Stock-specific risks include liquidity concerns, particularly in the early stages post-IPO. While Arm's technology is pivotal in the semiconductor industry, the stock's liquidity might not immediately match that of more established tech giants due to its recent public market entry. This could lead to wider bid-ask spreads and potentially higher trading costs. Additionally, the stock's volatility could be pronounced, especially given the tech sector's sensitivity to innovation cycles, regulatory news, and broader market sentiment shifts. Investors might experience significant price swings, which, while offering high reward potential, also carry substantial risk.

ADR-specific risks amplify these concerns. Currency fluctuations pose a notable risk since ADRs are denominated in U.S. dollars but reflect the underlying foreign stock's performance in its local currency. For Arm, any weakening of the British pound against the dollar could erode the ADR's value, even if Arm's business fundamentals remain strong. Furthermore, regulatory differences between the U.S. and the UK could impact how Arm's business operates or how its stock is treated in the U.S. market. This includes potential changes in tax laws, data privacy regulations, or other compliance issues that might not directly affect U.S.-based companies but could influence Arm's operations or investor perceptions.

General investment risks are ever-present. Market risk encompasses the broader economic environment, where factors like interest rate changes, economic downturns, or shifts in investor sentiment towards technology stocks could adversely affect Arm's stock price. Operational risk for Arm involves its dependency on licensing its technology, which, while lucrative, ties its fortunes closely to the success of its licensees and the continued relevance of its architecture in an industry prone to rapid technological obsolescence. Moreover, geopolitical tensions, especially those affecting technology transfers or trade between major economies like the U.S. and China, could disrupt Arm's global operations or market access, introducing another layer of uncertainty for investors.

In sum, while Arm's strategic position in the tech sector offers growth potential, these risks necessitate a cautious approach, emphasizing thorough due diligence and perhaps a diversified investment strategy to mitigate the inherent uncertainties associated with investing in a newly public, technology-focused company through ADRs.

Lessons Learned and Best Practices

The trend following strategy applied to ARM's IPO and subsequent stock performance offers several key takeaways and best practices for investors, particularly in the volatile tech sector. Key Takeaways from Trend Following ARM include the importance of timing and the psychological aspect of investing. ARM's IPO, which saw its stock price surge by 25% on the first day, underscores the potential for significant gains when aligning with market trends, especially those driven by sector-specific enthusiasm like AI and mobile technology. However, this also highlights the risk of entering at peak euphoria, suggesting that while trend following can capture upward movements, it's crucial to have exit strategies to manage the inevitable corrections or downturns.

Best Practices for Trend Following in Tech Stocks involve not just following trends but understanding the underlying fundamentals that drive these trends. For tech stocks like ARM, this means recognizing the sector's growth drivers, such as advancements in AI, IoT, or mobile computing, and how these technologies are integrated into broader market trends. Moreover, the practice of using technical indicators like moving averages or momentum indicators must be complemented with an analysis of news, regulatory changes, and technological breakthroughs that could influence stock movements. This holistic approach helps in filtering out noise and focusing on sustainable trends.

Adaptations for Different Market Conditions are crucial for the longevity of trend following strategies. In bullish markets, strategies might lean towards momentum trading, capturing the rapid ascents like ARM's post-IPO surge. Conversely, in bearish or volatile conditions, trend followers might employ more defensive strategies, focusing on shorter-term trends or using options to hedge against potential downturns. The adaptability also extends to adjusting position sizes based on market volatility or investor sentiment, which can be gauged through social media platforms like X, where real-time reactions to market news can provide early signals of trend shifts. This dynamic adjustment to strategy ensures that trend following remains effective across various market environments, from the tech boom to broader economic downturns, by capitalizing on the inherent momentum while managing the associated risks.

Conclusion

The analysis of ARM Holdings post-IPO through 2024 reveals a dynamic interplay between market expectations, technological trends, and investor sentiment, culminating in insights valuable for trend following strategies and investment decisions. Summary of Findings: ARM's stock performance, marked by significant volatility, underscores its position at the intersection of tech innovation and market speculation. The IPO's initial surge, driven by AI and mobile technology hype, was followed by periods of correction, reflecting broader market sentiment shifts and sector-specific news. This volatility, while challenging for investors, also presents opportunities for trend followers who adeptly navigate entry and exit points based on momentum and technical indicators.

Future Outlook for ARM and Trend Following: Looking forward, ARM's future seems intertwined with the evolution of technology sectors like AI, IoT, and data centers. The company's strategic positioning in energy-efficient chip design positions it well for growth, especially as demand for mobile, IoT, and edge computing devices continues to escalate. However, this growth trajectory must navigate through geopolitical tensions, potential shifts in technology paradigms, and the ever-present risk of market saturation or competition. For trend followers, this means adapting strategies to not only capitalize on ARM's upward trends but also to hedge against the inherent risks of a sector so closely tied to technological and regulatory shifts.

Recommendations for Investors: Given ARM's profile, investors employing trend following should consider a balanced approach. Firstly, maintaining a diversified portfolio to mitigate sector-specific risks is crucial. Secondly, adopting a dynamic strategy where position sizes adjust according to market volatility or sentiment, as gauged through platforms like X, could enhance risk management. Thirdly, while trend following can capture significant gains, integrating fundamental analysis to understand ARM's underlying business health, especially its licensing model and market share in emerging tech areas, will provide a more robust investment strategy. Lastly, staying informed about technological advancements and regulatory changes affecting ARM's core markets will be key to anticipating trend shifts. This holistic approach, blending trend following with fundamental insights, positions investors to navigate ARM's volatile yet promising landscape effectively.

Note. The aim of our analysis is to provide a comprehensive examination of Arm Holdings' financial performance, strategic market positioning, and the effectiveness of trend following strategies applied to its stock. The goal is to offer insights into its valuation, investor sentiment, and future prospects within the semiconductor industry up to August 2024, leveraging both traditional financial metrics and real-time sentiment from X posts. The recommended Citation: Section IV.M.2.b.xxx: Arm Holdings Public Limited Company - American Depositary Receipt (ARM) - URL: https://algorithm.xiimm.net/phpbb/viewtopic.php?p=11618#p11618. Collaborations on the aforementioned text are ongoing and accessible here, as well.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 129.68 (1.00x DCAP)
2. Sell Limit Price = 130.99 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 130.07 (1.00x DCAP)
2. Sell Limit Price = 131.38 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 130.89 (1.00x DCAP)
2. Sell Limit Price = 132.21 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 129.78 (1.00x DCAP)
2. Sell Limit Price = 131.09 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 133.34 (1.00x DCAP)
2. Sell Limit Price = 134.68 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 134.52 (1.00x DCAP)
2. Sell Limit Price = 135.91 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.

[Jatslo]

#ARM aka $ARM:

1. Buy Limit Price = 132.22 (1.00x DCAP)
2. Sell Limit Price = 133.55 (1.00x DCAP)
3. Buy Limit Price = 95.38 (1.00x DCAP)
4. Sell Limit Price = 168.47 (1.00x DCAP)

Variables & Navigation:

• The Collaborative Minds Forum

• = Executed Order(s)

• = Open Order(s)

• DCAP = Dollar Cost Average Protocol

• LP = Limit Protocol

Disclaimer: Leading by Example - Empowering Individual Decisions - The information shared in our posts, including order placements and adjustments, is intended for educational purposes only. We believe in leading by example and fostering a culture of openness and transparency, where individuals can learn from real-world trading experiences across various asset types, including cryptocurrencies and traditional assets.