Stats given cover closed trades for the 25th June - 1st July
My total realized profit from the past week is +0.61% Overall the portfolio is up 0.19%
Profitable trades closed: 20
Unprofitable trades closed: 1
Most traded instrument: $EOS & $SNAP (4 trades)
This week saw some steady trading across stocks as well as a few small crypto trades resulting in a profitable week. News has slowed down a little in the cryptosphere, hopefully a sign that everyone is busy working on updates, fixes and new features.
Some news highlights for this week:
Instagram adds video chat among other features - In yet another blow to Snapchat Instagram is rolling out new features left, right and center. Video chat is the big one, users can now video-call each other in groups of up to 5. Some of the smaller updates are a “you’re all caught up” feature to deter people from checking too regularly, Q&A in stories, with wide open responses alongside polls and reaction emoji’s and 1 hour maximum duration for videos uploaded to the service. Overall this is some very bullish news for Facebook, with the pressure on snapchat increasing further to compete. TRON MainNet launches - A month after the EOS launch, Tron, the 11th largest crypto by market cap has started their launch. Similar to EOS’s Block Producers, Tron uses Super Representatives. Tron is aiming to “build the next generation of the internet”, focused on content creation and sharing, with economic incentives and rewards. Similar to Steem and DTube, but for much more than just articles and videos. Tron has faced some damning criticism about their code on github, most of which appears to be plagiarized from other projects. Like EOS, Tron will need some time to get things up and running smoothly before the system is put through its paces and will either prove itself to the critics, or fall over as many predict. Personally, I am not particularly bullish on Tron, though I have perhaps not given it the level of research it deserves.
XRP moves towards decentralisation? - Yes, you heard me correctly. XRP over the past few months has been slowly drifting away from Ripple, the company who created and managed it so far (for the most part). As you likely know already, I’m not a big XRP fan, the two biggest reasons are: 1. Ripple own a huge percentage of XRP tokens, even though they are locked in escrow I believe it is far too much and shows how centralised the project is. 2. Ripple has been responsible for maintaining a list of “trusted validators”, used by nodes running the XRP network, meaning they primarily list their friends, again exerting control over the network. Over the past few days it appears they are finally letting go of this power and allowing nodes to make their own decisions on which other nodes to connect to and trust. Still not enough for me to consider investing, but some substantial news, not to be ignored.
Cryptos
$EOS - 4 trades with good profits, one over 10%. Hoping to continue actively trading this a little more.
$BTC - 1 position closed at a small profit after buying the dip.
$ETHEREUM - Another small profit from 1 trade.
Stocks $TTWO - 3 trades closed, 1 at over 6% profit. No plans to trade this further.
$ATVI - 2 minor profits. I still wish to keep some long-term exposure here but I’m happy to wait a little longer for a better buy-in level.
$BABA - 1 sell at -3%, only loss making trade this week. This was actually a position I do not recall opening, I have been watching it waiting for an opportunity to close at minimal loss.
$TSLA - 1 trade, 3.4% profit, a nice gain over 2 days. Tesla news is looking a little brighter again recently, so long-term trading could resume if their next earnings report goes well.
$SNAP - Shorted this 4 more times this week before eToro (and apparently many other platforms) stopped offering shorts. A little sad about this as I saw plenty more opportunities here to make more quick gains. Hopefully liquidity returns and I can continue shorting.
$TWTR - 1 trade, 34% profit. Held this one for around a month and felt it was time to renew it. I was hoping to re-enter in the 43 dollar range but missed an opportunity. We’ll remain patient.
Looking Forward
Earnings are coming! - Most companies are still to announce the date of earnings, but NFLX, Google and a few others are confirmed for the 2nd half of July. I’m almost 30 years old! - Not super relevant, but it does mean I will be away this Friday, so the stream will not take place. $WIX and $ETSY - Two companies I like and use, and hope to start trading more in the future. Similar to $SQ and $SHOP these companies are likely to continue to grow quickly as the trend of smaller etailers becoming more popular continues.