Stats given cover closed trades for the 9th April - 15th April. Keep in mind that the monthly stats on my page is effectively a snapshot of the drawdown on open trades at that time, meaning it is not a true representation of my numbers as I could close the positions at very different prices to what is seen right now.
My total realized profit from the past week is +0.45%.
Profitable trades closed: 33
Unprofitable trades closed: 1
Most traded instrument: $BTC / $SNAP (5 trades)
A really strong week has seen the crypto market make significant strides towards recovery, which we’ve taken advantage of some reasonable trades closed. Alongside this, dependable tech stocks like $SEDG & $MSFT have continued to generate green trades, and we’ve finally found a bottom on $AMD.
Cryptos
$BTC - The lower spreads here enabled a lot of trades both long and short with good results. The only losing trade of the week was a -3% Bitcoin short, easily absorbed by the rest of our trades.
$DASH - Dash has started a new advertising campaign on youtube recently, and as the markets turn a little more bullish and we get closer to the release of Evolution I will begin moving some more funds towards Dash.
$ETHEREUM - With the hype around EOS continuing to accelerate (EOS is one of the best performing cryptos of 2018), I am increasingly aware of the potential slow-down of growth in Ethereum amid the delays to Casper, Raiden and Plasma implementation. Throughout the year I will be gradually reducing exposure. Hopefully eToro add EOS and we can still benefit from the growth still to come.
$XLM - Like $NEO and NEM has benefitted from increasing awareness of the ability to create tokens on their blockchain as opposed to the current industry default ERC20 token on Ethereum. I expect Stellar to benefit from it’s more structured approach to business, similar to XRP’s and for more useful currency tokens to utilise their network over the coming year. There could still be improvements elsewhere in crypto to compete with this, but it looks like Stellar could stand to benefit until that point. A couple of nice trades here this week, more to come hopefully. On a side note there was some major news last night as Binance released some telling figures surrounding their latest token burn event. It suggests the company made around $150,000,000 in profit an astronomically large number which really shows the scale we are reaching in crypto these days.
Stocks
$SNAP - I’ve continued my shorting of Snapchat with good results, 5 trades total for more healthy profits. As mentioned last week, this is a useful hedge against a broader market recovery as well.
$FB - Earlier today I posted an article surveying users which suggests as many as 10% of US users have began deleting their accounts on Facebook. While it’s true that they still have strong growth in Instagram, and that this survey was a relatively small sample size, it leaves me feeling content with the shorts I am still holding onto for $FB.
$SQ - Another trade in Square this week, and one position still open, this is a stock I would like to keep some exposure to over the long-term.
$SNE - Sony as I’ve mentioned a few times is a company that I see real potential in. I’m still learning my way around how it trades at the moment, with a few more greens this week, but hoping to make this something I trade regularly and keep exposure to over the long-term.
$AMD - Finally found a bottom at around 9.5, I’ve been hesitant to trade this much for fear of over-exposing. The upcoming earnings report should give a better insight into how undervalued the company is. The key thing I’ll be looking for are numbers surrounding EPYC.
What’s the plan?
Continue with what I mentioned last week, gradually reduce exposure to stocks that are unlikely to perform well in a market crash, slightly increase hedges and trade more actively in-out of stocks to avoid long-term exposure where unnecessary or overly risky. Earnings season is just around the corner now, I’ll look to write posts as we get into it a little further with my expectations for each company I regularly trade.
Let me know what you think, as always I’m happy to discuss anything in the comments.