Translation (HTML kept intact, no extra line breaks): [Great Loss] Was scammed by BTCFX's "trick"! Assets dip below 110k again...
Hello everyone, big loss! I’m once again feeling down about dropping below 110,000 yen@xi10jun1.
I messed up... I didn’t expect to be taken in by a deception...
There are also deceits in BTCFX!
And continuing from last time, there is an important notice for readers who are paying, so please read all the way to the bottom if you can.
※This column is designed so that half of it is free to read; of course, if you read up to the paid portion (updated weekly for 400 yen per month, so about 80–100 yen per column), I would be very encouraged!
This week’s results (June 16, 2017 to June 22, 2017)
First, as usual, the results. I’ll announce the changes first.
- Last week (through June 16, 2017) assets: 116,047 yen
- This week (through June 22, 2017) assets: 109,227 yen
- Change: -6,820 yen
This week assets decreased... Although I had been profitable until now, the losses are large...
But in losses like this, it’s important to take a cooling-off period or step away from the market for a while. This week I stopped trading after this loss.
Now, about the “deception” that caused this loss, I will describe the following signs.
Deception also appears in BTCFX!
Deception is common in the world of investing. It’s when prices move in the opposite direction after a buy or sell signal.
The loss I incurred from deception was on June 18th’s market.
As the price had broken out of a range, I placed a buy order. When the price breaks above the range (range breakout), a buying strategy is generally effective.
However, 30 seconds later, it turned like this.
Huh? Is it going down?
In BTCFX, once it breaks above, it tends to rise steadily, but in this market, that didn’t happen.
“Could it be...?”
Then stop-loss... A loss of nearly 1,400 yen!
After that, trades kept being deceived; I would spot the indicated points and take positions, but buying pushed it down and selling pushed it up. It moved in the opposite direction so cleanly that I felt as if I was being watched.
As a result, I fell prey to the deception and suffered that huge loss...
Free summary: Be careful of deception too!
Perhaps due to the re-emergence of the Bitcoin SegWit issue, there has been (or had been) weaker price movement in recent days.
This deception might also be due to that influence. I traded faithfully to the signals, and I had never lost so much to deception.
But Bitcoin markets continue to encounter new scenarios, so trading is never boring.
Now I’m, after all, a trader. I cannot just be hit by range-break deceivers. I will write about countermeasures to deception and my analysis in the paid column.
Regarding the paid column
Recently fx-on sent a notice about “Possible leakage of personal information due to unauthorized access.” As a result, credit card payments may be temporarily unavailable, which could prevent access to the paid portion of the column.
Therefore, for paid subscribers who have been paying by credit card, I would appreciate it if you could purchase via convenience store payment or bank transfer.
Thank you for your cooperation.
Endnote Corner 1: Let’s try shopping with Bitcoin!
Actually, on overseas e-commerce site “FANCY,” you can purchase products using Bitcoin! It does incur some shipping, but there are stylish items you won’t see in Japan!
Instructions for using FANCY are summarized on this blog, so please refer to them here.
- →Explanation of creating an account, registration, settings, and how to purchase on FANCY (Fancy) | Investor jun of the Yutori generation
- →How to purchase (settle with Bitcoin) items from FANCY | Investor jun of the Yutori generation
Endnote Corner 2: How should you handle taxes for Bitcoin margin trading (BTCFX)?
BTCFX earnings must also be properly declared for tax purposes! I’ve written a blog post about confirming this with the tax office by phone, so please refer to it.
※ Even tax offices and tax accountants may have differing opinions. Also, laws may change, and filing methods may change. Before filing, be sure to confirm with your nearest tax office or a tax professional.
※ The free portion ends here. The rest contains detailed analysis and future outlook, so it is paid content. If you want to read more, of course, or if you’d like to support me with a tip, please subscribe. Thank you for your continued support!
