Long btc perp futures @$16,957 no stop loss, liquidation of collateral method est liquidation price $15,955 This is a sleep-over position so I withdrew all the collateral crypto assets and only left 10,000 USDT Bitcoins are being withdrawn at a fast pace from all the exchanges as people learned the lessons of the FTX blowup... imo, bitcoin will rally to over $20K due to supply shortage, soon(TM) nfa
Bad trading habits are hard to root out. No SL, liquidation of collateral is a hard lesson that creates trading ptsd. If you are getting stopped out frequently with large losses it means that there is more to learn about trading. FOMO is a beast to tame, most retail goes for momentum strategies and refuse to invest the necessary asset of time to learn tradecraft. ymmv
Update on the position, not a good morning, one of the bad news I heard is Genesis crypto lending shutting down. Still holding the position until I find what I think would be a better trade This next trade would be biased to be a short crypto trade, if I make it
Yea, this is true. I already blew up my perp futures trading account within a month when I started My stop loss is manual and during the day, it's easy for me, but at night, I feel better if I have some control on the loss. A stop loss would do this A limited collateral exposure is better imho This is because the crypto assets are withdrawn from the trading platform and in to the local wallet Wrt to holding a position overnight or multiple nights, this is a better trading strategy for me It's a higher risk strategy as proven when I blew up my trading account but the rewards are also higher as proven when I held the FTT short position multiple nights
Update on the position, no changes. Continuing to hold overnight I'm thinking of adding an additional 5000 USDT to the collateral before I go to sleep...
[Did not add the additional 5000 USDT collateral] Update on the btc perp futures long position. Continue to hold and re-assess if btc goes above $20K Volatile day on the position value today, started in the morning at negative $5K, went up to positive $400 a few of hours ago, then now negative again Collateral still 10,000 USDT and stop loss is full liquidation
@johnarb Have you ever considered scaling up your trading? All you'd need to do is: set up a company create a "safe stable" token attract a load of gullible [crypto] investors borrow a few tens of $billions from lenders who don't ask too many questions and away you go...