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gold2024

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Looking forward to the upcoming 6 hour apology video from Ben
It's been a year of opposites... August and September were the best of the year. Usual seasonality this year is out the window.
Horrible market the last 1~ month to trade, but we need to see how markets react after midterms. Its a big, big day for markets
Now that October is coming to an end it's the time for a monthly PnL update once more!
I started the month of pretty horribly, the majority of this setback came from WLD which put me down $100k in the first week of October.
I realised my mistakes were 1. Oversizing 2. Overtrading and 3. Trying to trade the same tokens I had previously lost on (WLD in this case). It's always the some combination of these 3 things.
Once I had made the necessary changes to my trading it all started to turn around. I ended up making back those losses + in profit $165k on the month.
At the peak I was up $210k
post-image
WLD-5.61%
PONS+4.32%
This is the part where you build out your positions and hold into a next swing high without doing much in between.
No breakdown after hack + midterms tomorrow. Then clear skies.
Don't throw in the towel just before the market gets going again
If the largest hack in crypto history can’t drag BTC below $76k then if you’re a bear you better pray for ww3 to break out for you to get even lower
Major market pivot incoming
BTC-0.67%
There’s no need to rush back into the market so soon after this hack by trying to find fresh plays, you should let the dust settle before deploying any capital
If there’s anything we know from the past is that it takes time before we know the full picture and an even longer time before the market digests a hack of this magnitude
Do nothing and outperform here. I expected a move in October that never materialised, but all we can do is obey the market.
There will always be random movers on the day despite the BTC price action, but you need to ask yourself what your edge is. By the time you see it you are likely late and you are likely gambling.
It's been a fantastic few months, don't waste your mental bandwidth and money on trying to force suboptimal trades.
Come back with a fresh mind.
BTC-0.67%
It’s been a solid few months of trading. If you’ve made money then consider taking some to the bank and spending some on IRL things
I have no idea what happens in the immediate short term, but … we are going into the weekend, have FOMC next week, end of month and have midterms the week after .. usually the market is pretty muted leading into these sorts of events and I’d rather take a watch and wait approach til proven otherwise.
In saying this I still feel confident that the bear market cycle low is in and we are at the very beginning stages of a bull market
Take what the market gives and tr
Despite my bullish view it has been a pretty frustrating month of trading for many. In saying this, this sort of price action isn't unlike past cycles where we would have extended periods of consolidation as trend was changing.
It feels like we've had endless headwinds these last few years (mainly a combination of trump induced issues for us as well as AI and Quantum risk)
Here are the key things that have worked for me, the list is small:
- size down
- reduce your holding times
- take profits on the way no matter how bullish you feel
-take less trades
I pride myself on being transparent, so a
post-image
MSTR+5.02%
BTC back at $84k despite all the bad news...
The market is trying to tell you something right now if you have an ear to listen
BTC-0.67%
The big guys don’t make big money by drawing lines on charts. It makes you feel like you have some control over the market if you do that but in the end it’s a fugazi
@HighStakesCap when’s the last time you drew a line on a chart?
$ZRO $ZEC and $FIL
My dip buys of choice
post-image
ZRO-2.59%
ZEC+1.16%
FIL-2.00%
There's a good case for that to be the low and we begin the next leg up into the $90's from here.
We had the wick low into $79k's as we had 3 pieces of bad news come out all within 24hrs (CPI, PPI and MSCi MSTR exclusion)
Now, price is higher than 2 out of 3 (CPI came out at $83.3k)
MSCI+5.43%
MSTR+5.02%
A few points after trading this past month:
- There are less trades to take than you probably think there are each week (even in a bull market). Maybe only a couple per week max work taking.
- Take profit on the way up regardless of how you feel about the trade in the moment.
- Move slowely. Take you time to position. You have more time to position than you think you do.
- Let the bots fight it out first before you enter a piece of news (unless PvE).
- Size up aggressively when the time calls for it.
- By moving slower you also avoid exiting prematurely. Even if the existing trade is a losing
Absolutely Incredible how quickly people’s sentiment totally shifts on the first BTC pullback. The timeline was absolutely silent on the way up, this tells me barely anyone made money.
Yet we are down -8% from the highs just a couple weeks ago and still above $80k
It called ‘Wall of Worry for’ a reason
BTC-0.67%
It's important to see BTC reaction here from more negative news in the form of hot CPI.
The CPI coming even hotter than expected isn't great... But in a bullmarket these negative headlines don't really matter at all
Clarity rejection and rate hike both marked local lows before we had some incredible opportunities in alts.
Watch closely
BTC-0.67%
The best trades end up being the ones nobody is talking about, they can talk about it when I'm already up multiples
The sentiment (and almost what feels like excitement) on the timeline on the first big pullback in the very start of an uptrend tells you all you need to know.
That A. The majority missed the entire move up and made no money
And B. We are still so incredibly early to climbing the wall of worry
You bid pullbacks in a bull market
Now there’s no excuse for anyone to be sidelined after this pullback. The coins you wanted the dip so badly on last week are having their first real corrections
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