[Slight Increase] BTC FX assets keep around 110,000 yen! In a market where panicking loses, build positions carefully!
Hello everyone, the split chaos! A guy who wants to split his skin off because it's hot@xi10jun1 here.
Thanks to you, my assets are in the 110,000-yen range.
On the other hand, Bitcoin prices have been dragged by the split chaos as last week, showing a downward trend. It’s completely unclear what will happen next.
And as with the previous post, there is an important notice for paid readers, so please read down to the end if you can.
※This column is designed so that half of it can be read for free, a generous package. Of course, if you read up to the paid portion (updated weekly for 400 yen per month, so about 80 to 100 yen per column), I would be very encouraged!
This week’s results (July 7, 2017 to July 13, 2017)
First, as usual, the results. I’ll announce the changes first.
- Last week (until July 6, 2017) assets: 110,859 yen
- This week (until July 13, 2017) assets: 113,039 yen
- Change: +2,180 yen
This week I’ve been steadily increasing, but there were trades described later that made the growth a bit slow.
My trading pattern lately has been loss → loss → loss → huge gain = small profit variously. It’s better that I’m making money, but I need to build positions more carefully.
So, this time please take a look at my failed trade analysis where I rushed and lost money!
Rushed positions are prone to losses
The market is in a downtrend now, but there are opportunities for a rebound play at crucial moments, especially in the short term.
As I wrote in previous columns, rebound plays can be quite profitable, especially after missing a downtrend or after a down move signals (long lower wick) have appeared.
So I try hard to find such moments, but it doesn’t always go well.
This is from transactions on the 10th this week.
I bought 1 BTC aiming for a rebound and watched, but I was stopped out in an instant…
Because it’s a GIF, it’s edited short, but this happened in just 2 minutes.
Oh no…
Of course the stop-loss level was too lenient and I couldn’t read the market well. This is my fault.
Moreover, when I first saw this market, I thought “this might rebound,” and rushing into a position was the mistake. Feeling the opportunity loss from missing a downtrend led to a trivial loss.
As a result, I ended this week with a gain, but if there are many such losses, assets won’t grow much.
Free summary: when you rush, you lose
Because the downtrend continues, many people hold short positions or aim for rebound plays.
But you must not rush. If you trade out of desperation, you will definitely get hurt.
In any case, the split chaos has not shown signs of ending, so don’t rush and evaluate the market slowly. Asset safety comes first.
Nevertheless, every trader has moments when they think, “Oh, if I had taken that position here… I missed the chance.” So how should you deal with such moments? I will write about that in the paid column.
Regarding the paid column
Recently, fx-on sent a notice about “Possible leakage of personal information due to unauthorized access.” Accordingly, credit card payments may be unavailable, so you may not be able to view the paid portion of the column.
Therefore, for paid subscribers who use credit cards, we would appreciate it if you could purchase via convenience store payment or bank transfer.
Thank you for your understanding.
End-of-section 1: Shopping with Bitcoin!
Actually, on the overseas site “FANCY,” you can purchase goods with Bitcoin! It may cost a bit for 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 that.
- →解説！FANCYのアカウント作成・登録・設定方法と商品購入の流れ | ゆとり世代の投資家jun
- →FANCYのアイテムをビットコイン(Bitcoin)で購入(決済)する方法 | ゆとり世代の投資家jun
End-of-section 2: How should you handle tax filing for Bitcoin margin trading (BTCFX)?
You must also file taxes properly for BTCFX! I’ve written a blog post after confirming with the tax office by phone, so please refer to it.
※There are cases where the tax office or tax accountants 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 covers detailed analysis and future outlook, so it’s paid. If you’d like to read more, or if you’d like to support me like tipping, I’d be very grateful! Thank you for your continued support!
