Tuesday, July 17, 2018

17 Jul 2018 Update

Crypto markets suddenly turned bullish on a dime.

Coinbase greenlighted for securities.
Blackrock rumours.
Billionaire Steven Cohen gettting into crypto.
CIA positive?
South Africa's financial firms adding crypto
India to regulate instead of ban crypto
Eve Bloomberg is bullish


To be honest, I'm meh about it.

I've mentally hardwired as a contrarian psychopath, so I don't really care.

To be honest, slightly bummed out that it didn't hit levels for me to raid my warchest (that I've been topping up slowly) and to add another leveraged long position, but oh well. The gain in my portfolio is nice, can't complain.

Anyway, I've been slowly building up and adding to my toolkit of generally market neutral strategies (strategies where I make money, regardless of market movement up or down).

As of now, I have:

$2300 hedged profits
$1500 unhedged profits in instrument A
$2900 unhedged profits in instrument B
and another ~$1300 profits in instrument C coming in at the end of August.

My $50,000 goal by the end of the year looks not too bad, since I could close and hedge all my positions and lock in a $6700 today and expect that other $1300 coming in next month.

Honestly, not too bad. I'm at ~16% of my goal, give or take a bit because of the unhedged positions.

In my previous update, I had secured 2% of my goal and I was expecting to end August at 10%.

Now that I'm already sitting at 16%, I'll try to eek out profits to hit 20% or hopefully 25% by the end of August. That would translate to $10-12k profits in SGD.

Technically, since I'm going for market neutral, I ought to be keeping my positions hedged, but I like the boost that I am getting from speculating that we can spike. I'd convert my profits slowly on spikes. It's all 100% pure profits anyway, so it's just a matter of how much money I profit/loss by speculating on the market movements. I suppose it's another form of trading, though its calculated risk instead of pure arbitrage. 

Since the market is in quiet mode, I'm glad I've honed a bit of my skills for making money instead of just being an idle holder. So much dead capital in this space, squatting on junk. Pfft.

I'll be adding node running to my skillset soon. The prospect of a sharding validator in a few years time and also running a LN hub quite appeal to the "passive income" side of me. Of course, the knowledge of these things are not simply acquired overnight. I'll be tinkering around with hardware, Linux and probably VPS as well. The knowledge of all of this is also a bit synergistic so the skill of running trade bots, which is also another more advanced skill that I'd like to learn in the future.

So I'm improving, upgrading, evolving.

By the time everyone else finally capitulates into crypto, I'd have ascended already. Simple Red Queen theory.

See you on the frontlines lads, and make sure you're not on the other side of my iron sights.

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