So, did anything big happen while I was away last night? Oh yeah, how about a MASSIVE 600 point move on BTC. How did my strategy from yesterday play out:
It played out exactly how I thought it would (within reason) and I got to watch it live this morning and I finally got to bed at around 5am.
FEEDBACK
I made two mistakes, one big and one not a big deal. I scalped on the way up, losing 7% of my stack that way. I got out of my long and just let the layered in shorts take. The problem with this is that I could have been making profit on the way up instead of just eating it on the way up.
My second mistake was moving up my last short order. I missed the top of the wick by ~$2, which is upsetting because it would have doubled my position and put my cost-basis at a better spot.
Needless to say I would have more than doubled my stack on Bitmex if I had just left the damn thing alone. Lesson learned: Stick to your plan...
CURRENT POSITION
Im still sitting on about 80% of short after taking a couple profit targets. I have another profit target sitting at around 6500 and 6400. From there if we do not hold that level, we are going to be testing new lows which means <6k.
Happy Trading...
