Bitcoin is climbing to new highs firmly. Wish I could ride the wave, but I'm left disappointed...
Hello everyone, BTC! Once again Bitcoin, which reached a new high, I couldn’t ride it@xi10jun1with BTCFX-based thinking.
I can’t believe it jumped by 100,000 yen in a week, and even surpassed 500,000 yen on BTCFX!
Really, why can’t I ride it….
※As with the previous post, there is an important notice for paid readers, so please read all the way to the bottom.
※This column is designed so that half of it can be read for free, a manifestation of a benevolent heart. Of course, if you read the paid portion (updated weekly for 400 yen per month, about 80–100 yen per article), it would be very encouraging!
This week’s results (August 11, 2017 to August 17, 2017)
First, as usual, the results. I will announce the gains and losses first.
- Last week (until August 10, 2017) assets: 115,724 yen
- This week (until August 17, 2017) assets: 115,148 yen
- Change: -574 yen
Oh dear. This week I not only couldn’t ride the trend, I took a loss….
And the timing couldn’t be worse… I login to look at the charts, and I can’t seem to encounter the right timing or a favorable pattern that suits my strengths.
Furthermore, since the price range has become wider than before, a single BTC position can quickly incur a unrealized loss of around 1,000 yen. As always, this currency makes it hard to trade with a calm mind.
With price and difficulty both rising, this week yielded only this much profit.
This week’s profit: Even with a 0.2 BTC position…
First, please take a look at the gif below.
For a 0.2 BTC position, I wrestled for nearly 50 minutes after this (or rather, I just held it).
This unrealized loss became this much later on.
It ended up with a profit of +557 yen!
If I had held out to 460,000 yen, I could have gained about 1,600 yen, but I looked away for a moment…
Even so, even with only 0.1 BTC as collateral, you can still make quite a bit. For small, steady trading, this is how I think you should trade to stay calm.
But still, long trading sessions consume a lot of concentration. I’d prefer to log in and finish in around 30 minutes, but for traders like me, the current market might not be suitable.
This is rough.
Free summary: High volatility becoming higher!
Even back in the 100,000 yen range, volatility was already high, and it has become even more dynamic now.
If you are thinking about doing BTCFX from here, you’ll surely get wiped out… Even someone used to USD/JPY or GBP/JPY would face trouble.
On the flip side, there are opportunities to profit, but honestly it’s at the point where protecting your assets is all you can manage…
Now for this paid column, as with this week, I will continue to focus on analysis of future market trends.
Regarding the paid column
Recently, fx-on sent a notice about “Possible data breach due to illegal access.” As a result, credit card payments may be unavailable, which could prevent viewing the paid portions of this column.
Therefore, for paid subscribers who use credit card payments, we would appreciate it if you could purchase via convenience store payment or bank transfer instead.
Thank you very much for your cooperation.
End section 1: Shopping with Bitcoin
Actually, on the overseas e-commerce site “FANCY,” you can buy products using Bitcoin! It may incur some shipping, but there are fashionable items you won’t see in Japan!
We’ve summarized how to use FANCY on this blog, so please refer to it.
- →FANCY (Fancy): How to create account, register, set up, and purchase goods | Investor Jun
- →Buying items on FANCY with Bitcoin (BTC) as payment | Investor Jun
End section 2: How to do tax return for Bitcoin margin trading (BTCFX)
You must properly declare BTCFX profits on your tax return! I’ve written a blog post after confirming with the tax office by phone, so please refer to it.
Tax offices and tax accountants may have differing views. Also, laws may change, affecting how you declare. Before filing, please confirm with your nearest tax office or tax advisor.
※ The free portion ends here. The rest contains detailed analysis and future outlook, so it is paid. If you want to read more, or if you’d like to support me with a small tip, I’d be very grateful. Thank you for your continued support!
