Going almost fully flat here.
Closed $ETH, $SOL, $HYPE shorts except a small $TAO position.
Also closed $BTC long.
We are in a situation where I see the same chances of pumping to 100-107k than undoing the full move up to 83k, so that’s why I decided to go almost flat here and take positions again when I’m more sure about it.
Overall not a good 15 days of January so far, I’m around -500k in the month.
Most of the losses came from shorting what I thought that was a non ready for a breakout range.
The $HYPE short, the $BTC long and two $BTC shorts I closed in profit at the start of the month (everything shared) were key to make losses way smaller that what it could have been.
The positive thing I can take from all of this is that even after taking some really bad shorts, the loss relative to the total margin in my LTF account is around 10%.
What I mean is that thanks to holding a few good runners and having some other solid trades, the damage has been relatively controlled, and even after some fatal shorts, I’ve “only” lost $500k total (net January PnL) so far.
In other words, I’ve lost $500k while trading really badly, in a market where opportunities are infinite. If this is the punishment for a very poor performance (a very small punishment relative to the size of the mistakes), I can’t wait to see how big the reward is when the performance is good.
Come
back time from here.
