Once a Trader -- Always a Trader #0.5

By Jelly Fish | cryptofun | 11 Sep 2020


A week ago I made a post about how I decided to resume my "trading career". My comeback wasn't that brilliant, however -- I barely managed to stay at break-even.

Another week has passed -- and now what? The situation is pretty much the same...

I was kinda late to jump into the summer rally bandwagon. Namely, I jumped in exactly when the rally peaked at BTC/USD 12K and it was the very time to sell all the crypto pennies and go to sleep. So, the lesson No. 1 is Don't be late to the party!

Besides, I missed nearly all profitable signals my caller guy gave me. I was either away from PC or busy or didn't have my accounts set up properly. I mean those misses were because of various "objective" reasons, and not because I didn't "subjectively" want to take those trades. In any case, it were those few profitable calls that got the most part of profits. In other words, had I been taken all the calls properly, I'd have a lot of small losses and a few large wins that would cover all the small losses and in addition brought some good profit. Here's the lesson No. 2 -- Most of the trades end up in losses. (Some might say "But I know a guy who knows a guy who's never had a loosing trade!" Well, I don't know such guys, and if they exist, they're way too smarter than me). 

"Then how come that you're still at break-even?", you might ask. Well, first I'm at an "approximate" break-even. I started with like 30 bucks at several exchanges, and I still have about this amount, more or less a couple of dollars because of losses and fluctuating prices of my long-term positions. Besides, I have several winning trades too (not +100% profits, but 5-10%). And the most important, I always mercilessly cut losses short. As a result, I still have money to continue trading.

But unfortunately, today is not a good day for trading. BTC's pump is over, BTC's dump seems mostly over too, now we're heading into a flat. In my country traders call a flat trend "a saw" and to trade during a flat trend is "to sit on a saw". And when you're sitting on a saw, you're at risk of getting your balls hurt... The assets drift back and forth chaotically, like a piece of shit in an ice-hole, as we put it in my country, and whenever you take a position -- at the same moment the market starts going against you...

Nowadays it's much safer to refrain from trading at all. That's why my caller guy doesn't post as many signals as he used to. Well, it's kinda strange to pay 50 bucks only to get a "Trade do not!" advice... However, the advice is sane. On my own I managed to make a couple of profitable swings with BTC futures, but the profits barely covered my previous losses.

When I started this post a couple of days ago, I thought it would be a fun note about my new flashy wins (or failures) as long as BTC would continue its journey up back to 12K (or down to 9K). Neither did happen, sorry. To sit on a saw is so painfully boring, guys...

 

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Jelly Fish
Jelly Fish

Cryptofreak


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