[Minor increase] BTCFX assets are barely up. Is it hard to shift mindset?
Hello everyone, from the small-increase wealth class: a discretionary trader-type guy who doesn’t panic@xi10jun1is here.
Last week I took a big loss and paused trading for a while, but this week I managed to end with a slight gain.
In fact, I also lost quite a bit this week, but recovered through a comeback. Truly, trading BTCFX discretion is nerve-wracking.
And as with the previous issue, I have an important notice for readers who are paying for this content, so please read further down.
※This column is designed so that half of it can be read for free, a testament to our conscience. Of course, if you read up to the paid portion (updated weekly for 400 yen per month, about 80–100 yen per article), it would be a great encouragement!
This Week’s Results (June 23, 2017 to June 29, 2017)
First, as usual, the results. I’ll announce the changes first.
- Last week (until 2017-06-23) assets: 109,227 yen
- This week (until 2017-06-29) assets: 109,313 yen
- Change: +86 yen
This week ended with a small gain.
As shown a little in the image, I made a big recovery on the 27th trade.
However, before that I suffered a large loss, so overall I didn’t make much money... A rest may ruin market sense in a sense.
So this week I’ll go with fewer images and a more column-like feel.
Difficulties in Switching Mindset After a Loss
Not only with Bitcoin, but when you lose in investing you try to recover it, right?
This can lead to the next big loss, and something similar can be seen in the world of horse racing as well.
In horse racing, central races are held only on weekends, with 12 races per day.
Among those races there are prestigious G1 races, and basically Sundays’ 11th race is the main race.
In that main race, fans bet on their favorite horses or jockeys or try to hit a big payout, but of course most times they miss.
Then, in the following 12th race, there can be a sudden rise in the odds of a horse that wasn’t popular, known as a “dark horse.”
What happens is that people who lost in the main race try to recover by betting on less popular horses with high odds.
Of course such horses appear sometimes, but it’s rare. Yet, in their desperation to recover, they end up betting more money than necessary or choosing unnecessary horses.
When I suffered a big loss in Bitcoin, I paused trading for a while for this reason. The fear of trying to recover led me to avoid reckless trades and unnecessary trades that would expand the losses.
Free Summary: The true test of a trader is when they lose
The market still seems to be unsettled by the Bitcoin split issue.
It’s hard to push the price higher. In such markets, trying to recover can be quite painful because volatility may not rise as much as expected.
From here, let’s trade cautiously while paying attention to Bitcoin-related information.
Now, about how to deal with the desire to “recover”—I’ll write about this in the paid column.
Regarding the Paid Column
Recently, fx-on sent a notice about the possibility of personal information leakage due to unauthorized access. As a result, credit card payments may be unavailable, which could prevent access to the paid portion of the column.
Therefore, for paid subscribers who are paying by credit card, we would appreciate it if you could pay by convenience store payment or bank transfer.
Thank you for your understanding.
Ending Corner 1: Shopping with Bitcoin!
Actually, overseas online shop FANCY allows you to purchase goods using Bitcoin! It does incur some shipping, but it offers stylish items you won’t see in Japan.
Instructions for using FANCY are summarized on this blog, so please refer to it.
- →How to create an account, register, settings, and purchasing on FANCY (Fancy) | Investor Jun of the Yotori generation
- →Buying items on FANCY with Bitcoin (BTC) | Investor Jun of the Yotori generation
Ending Corner 2: How to File Taxes for Bitcoin Margin Trading (BTCFX)
BTCFX proceeds must be properly reported for taxes! I’ve written a blog post after confirming with the tax office, so please refer to it.
※ Even tax offices and tax accountants may have differing opinions. Laws may change, and reporting methods may change. Before filing, be sure to check with your nearest tax office or tax professional.
※ The free portion ends here. Beyond this point is detailed analysis and future outlook, so this is paid content. If you want to read more, of course, or if you’d like to support us with a tip-like subscription, it would be very encouraging! Thank you for your continued support!
