Hello everyone!
It's been a couple of months since I've stopped posting with some continuity and I've thinking that's already time for a change. This time I'm bringing you the first of a new series of posts that I'll be doing:
The story is that I have always had great respect for the following:
And let's be honest. You don't need to use either of them to be successful in the space. I've been always holding comfy in hot wallets and that's OK.
BUT ... (there's always a but) you're missing great tools (when correctly utilized) to amplify your earnings and overall knowledge on the overall market.
That's the motivation for this challenge. These two have always been my unfinished homework for a lot of time and the few times that I've tried, I ended up leaving it for the comfort and convenience of spot-holding.
So I recently came up with a little trick to 'force' myself to learn:
-''What if I just try to swing trading with a little leverage... and we'll see later?''
Oh I forgot to mention that IMHO the sole reason to use margin is to avoid depositing money (THAT YOU ALREADY HAVE) into a CEX (p.e. you want to trade with 1000$, you could deposit 100$ and use an x10 instead of depositing the whole 1000$, minimizing counterparty risk). The real magicians are the scalpers, who perform the hardest trading style (while taking advantage of this feature).
Whatever the case, I want to start mixing my regular style of trading (weeks to months or swing trading) with a slight degree of margin exposure. My account here will serve as a trading journal and I'll be updating it periodically.
When you trade, you want a system rather than a ''general set of rules'' subject to the interpretation of the operator.
The CEX which I'm choosing first is Woox. An ideal equilibrium of low fees and an appealing user interface. Some rules are already in practice.
I'll be sharing trades on the go as I try different things, but the basis is previously stated. This is a snapshot of the current state of the account:
And the couple of deposits that I already did:
Using what HIVE offers as a network for publishing uncensorable content, it's a perfect fit for a trading journal. I'll also share snapshots of a new dedicated coin-tracking account to keep myself and my readers engaged and keep track of the progress.
I believe it will be an enriching experience. If you want to try to imitate me you can of course (but remember that any of this is financial advice, it's only me sharing personal opinions in a journal).
In case you want to try WooX, would be appreciate if you do through my reflink (50%/50% fee sharing): https://referral.woo.org/gS77PEuaWpdTuw85A
You're welcome!
