Crypto

Short Trading in Crypto

Just realised that it has been some times since I updated this space of mine. Life has been great when I took a big leap of faith to leave NTU to focus on Piggyback and the businesses, at the same time, rebuilding myself as it will soon be one year since it had happened.

I’ve been trying my best to overcome all the negative emotions and putting my energies on myself, kiddos and etc. And even crypto.

Got to admit that I still suck at short trading. The moment I sold on 30 April 2021, it mooned another 20% within the next 12 hours. LOL. Hopefully my $GRT will give me that bang for my bucks in times to come.

Looking back perhaps I need to change my strategies to do short trading. E.g instead of selling what I bought, perhaps I should sell my base value worth.

E.g. I used SGD 1,500 to buy in $GRT at 1.68 thus giving me 885 $GRT and perhaps next time I should sell $1,500 worth instead of selling 885 $GRT to get like a 20% profit margins. HAHAHA.

Just wondering if this will work. And I shall do that the next round. Let me know if you would like to share your tips in short trading. 🙂

Crypto

Chopstick Theory -SatoshiStreetBets

The crypto world is going cray with all the community efforts in pumping what they called, shitcoins. LOL. All thanks to the viral reddit thread by SatoshiStreetBets.

They pumped $Doge aka DogeCoin which is created based on a meme featuring a Shiba Inu?! Like what?! And it was pumped up to 900% within 24 hours. And yes, Elon Musk sent a frenzy when he puts #Bitcoin in Twitter profile. Talking about the community strengths versus the hedge fund traders. It’s definitely a stressful week for the professional traders.

I did a shift to my portfolio where I focus on Altcoins now and as I was typing this, I just liquidate $GRT that gained a 5% within 2 weeks (The shitty part, the moment I sell the coins, it got pumped another 10% more, damn). $XRP did a good game too with 20% profit for me. Not bad for a short term trade.

I’m actually quite skeptical on the way I trade. For me, I just pick 2-4 and one of it will be the main based and prayed to heavens that it’s the right choice for me. But the stress level to look see at 3-4 will drive me nuts. HAHAHA. The reddit frenzy taught me that — You can read all the whitepapers u want but trading has no logic in crypto when community traders triumphed over the technologies, just like the Chopstick Theory that my mum loves to mention when I’m younger. LOL

Trade safe, trade well. Share with me your trading style via comments.