What should be done in a low-volatility, narrow-range market for BTCFX?
Hello everyone, asset management! In a stagnant market it was hard to take positions@xi10jun1this is.
Yesterday I took a break and caused you a lot of trouble. Actually there was a bereavement in my family, and I was忙しく忙しく忙しく
This will replace the 21 days of updates that were on hold this time.
※This column is designed so that half of it can be read for free, a charitable design.
This week's results (April 14, 2017 to April 20, 2017)
First, as usual, the results. I will publish the gains/losses first.
- Last week (up to April 13, 2017) assets: 95,116 yen
- This week (up to April 20, 2017) assets: 96,483 yen
- Change: +1,367 yen
This week also reached a new high! But it did not reach 100,000 yen...
Anyway, it was hard to take positions this week. While I couldn’t ride the profits smoothly, there were many stop-loss and small-profit retreats, too.
“When you force trades at times like this, you don’t get good results.” I wrote this in a previous column, so I stuck to it, but it’s still frustrating not to be able to take big gains.
Range market with small price movement
Regarding this week's market image, the price movement is especially small in the early part of the week.
As usual, only the algorithm remains active, and individual orders seem to have decreased quite a bit.
Recently, such scenes have stood out in the Bitcoin market. The order book often moves only with algorithmic orders, and the crucial orders are sparse.
Even with some ups and downs, it’s only around ±500 yen. Even if you get in, holding for a long time often leads to a rapid reversal or rapid drop, reducing unrealized gains.
In such times, it’s better to persevere or trade in small increments. Even within the same range, a small price range makes trading difficult and you don’t gain much from watching the market.
Another nearly 100 BTC order book has appeared
This is a casual observation, but recently there are more orders near 100 BTC in BTC.
Not only algorithmic and show orders, but also actual filled orders seem to be increasing.
It’s nice that activity is rising, but continued intense fighting can make it hard to take positions. Also, big orders can create a false sense of security, so be careful.
Free section summary: trade in small steps when the market is quiet
When the market is quiet, it’s better to wait without forcing anything, or lock in profits in small steps.
In fact, even this week’s high was not a big gain, but the gains came from small trades. If you trade patiently and carefully, you can increase assets while reducing unnecessary losses.
And about this column, I edit the text until the last moment to be as close to real time as possible (Friday updates to benefit weekend trading), and some images are kept in a “fresh-off-the-press” state.
As in cases of bereavement or illness, there may be temporary breaks. I ask for your understanding.
Ending Column 1: Shopping with Bitcoin!
Actually on the overseas e-commerce site “FANCY,” you can buy products using Bitcoin! It costs a bit for shipping, but there are stylish items you won’t see in Japan!
For how to use FANCY, please refer to this blog post.
- →Guide to creating and setting up a FANCY account and purchasing items | Jun, Investor from the Yutori generationGuide to creating and setting up a FANCY account and purchasing items | Jun, Investor from the Yutori generation
- →How to buy (pay with) Bitcoin for FANCY items | Jun, Investor from the Yutori generationHow to buy (pay with) Bitcoin for FANCY items | Jun, Investor from the Yutori generation
Ending Column 2: How to do Bitcoin margin trading (BTCFX) tax returns?
You must also file taxes for BTCFX earnings! I’ve written a blog article based on a phone call with the tax office, so please refer to it.
→Tax filing for Bitcoin margin trading (BTCFX)! Is it aggregate income tax? Separate taxation?
※ Even tax offices and accountants may have differing opinions. Also laws can change, so the filing method may change. Before filing, be sure to confirm with your nearest tax office or tax accountant.
※ The free portion ends here. The rest covers detailed analysis and future prospects, so this is paid content. If you want to read more, or even as a tip-based subscription, I would be very grateful! Thank you for your continued support!
