Benefuture Expert - BFE
607 Posts
Benefuture Expert - BFE
Consistently profitable, low-risk trading strategies focused on perpetual futures, particularly short positions.
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I took another hit. But it’s part of my current trading strategy since I'm on isolated margin. In other words, my stop is the total liquidation (100%) of the position, which corresponds to 1% of my total capital. The times I got wrecked, I was on cross margin and without a stop, operating with a small position relative to my total capital, so the impact on my portfolio would theoretically be small. Cross margin without a stop can actually work well for a position going against you. But if two or three positions go against you at the same time, you're relying on nothing more than luck. All risk management collapses if those two or three positions move 60%-90% against you, even if you start with a small margin and low leverage. I've blown up about three times because I didn't believe that sometimes getting out of a trade with a small loss is way better than staying in the trade hoping it'll reverse, while your portfolio turns to dust.
I took a hit here, but it didn't eat up more than 1% of the reserves. Now the price is about to dip and I'm hoping to recover.
My scanner is now multi-exchange. I can scan all tokens from 12 exchanges in one go. They're all read via API. For now, I only place automated orders on Binance. Soon, the bot will execute automated orders on all 12 exchanges simultaneously. I'll keep track of the total balance and open positions in a single HTML table. The upside of trading on multiple exchanges is that the token supply more than doubles. When one of them is stagnant, there are always good options on the others.
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