I missed the chance to profit from a rising trend buy position, so I took profits with a rising trend sell position!
Hello everyone, an upward trend! I’ve started to make profits on the buy side@xi10jun1.
Did Bitcoin break through 150,000 yen?! It’s surpassed the previous high, but it feels a bit too rapid….
For now, this week’s column has nothing to do with setting new highs.
Performance for this week (February 24, 2017 to March 2, 2017)
First, as usual, the performance. I’ll announce the changes first.
- Last week (until February 23, 2017) assets: 69,008 yen
- This week (until March 2, 2017) assets: 73,064 yen. As of March 2. The blue background in the GIF is a mistake…
- Change: +4,056 yen
We finally clearly broke through 70,000 yen! Yay!
To be honest, the number of trades was a bit fewer. But there were some big, rapid gains that helped it grow a lot.
Missed profits are frustrating!
Aren’t you frustrated by missing profits?
After closing my unrealized gains on a long position, the price rose further, or after closing unrealized gains on a short position, the price fell further.
Of course, the spirit of “give up the head and tail,” “profit even by 1 yen,” and “trades that don’t lose” is important.
But as I trade, I want to maximize profits. As the saying goes, buying is a technique, selling is an art.
So this time I’ll share scenes of missed profits. ※The GIF here is the highest quality. It might be a bit hard to see, please understand in advance.
Long position: 130,855 yen, 2 BTC
On February 26, I held a long position of 2 BTC at 130,855 yen.
The order book was thick with buy orders, and it became an unrealized gain. I thought it would rise further, so I placed a stop-limit and waited for the rise.
Moreover, a thick order book started appearing frequently.
About 3 minutes 30 seconds later
After about 3 minutes 30 seconds, unrealized gains exceeded 1,000 yen.
“Well, this is about it, I guess?”
Then I placed a sell order at 131,500 yen. The chart probably has reached its limit by now?
About another 3 minutes 30 seconds later
After another roughly 3 minutes 30 seconds, the position was closed successfully.
Profit was 1,290 yen.
And what happened next is obvious when you look at the current price.
Let’s profit from selling!
Since I would still feel frustrated, I’ll try selling next!
This time I held a 2 BTC short position at 146,250 yen.
Since the downtrend had just begun, I’m curious how this will unfold.
Be patient. Still more to go!
Free summary: how to extend unrealized gains
This is the tricky part. Probably the trader’s eternal challenge.
For Bitcoin, the strategy “buy on the way down” can be used, so when long, hold longer; when short, go for short-term decisions, perhaps.
Still, surpassing 150,000 yen. I’d like a pullback soon…
What happened next will be clearly stated in the paid section, so if you’re interested, please consider subscribing.
Ending Corner 1: Shopping with Bitcoin!
Actually, on overseas e-commerce site FANCY, you can buy products with Bitcoin! The shipping is a bit costly, but there are stylish items you won’t see in Japan!
How to use FANCY is summarized on this blog, so please refer to this.
- →Explaining how to create a FANCY account, register, set up, and purchase products | Jun, investor of the frugal generation
- →How to buy (pay for) FANCY items with Bitcoin (BTC) | Jun, investor of the frugal generation
Ending Corner 2: How to file taxes for Bitcoin margin trading (BTCFX)
Tax season is here, but you must declare BTCFX profits too! I’ve blogged about confirming this with the tax office by phone, so please refer to it.
Note that even tax offices and tax accountants may have differing opinions. Also, laws can change, and reporting methods may change. Before filing, be sure to confirm with your nearest tax office or tax accountant.
Note: Free content ends here. The rest is detailed analysis and future outlook, so it’s paid. If you want to read more, of course you can subscribe as a tip, which would be very encouraging. Thank you for your continued support!
