It’s February 8th, 2021
Tesla just bought $1.5B of Bitcoin and it ripped 20% to new ATHs. Kaleo has an 8 figure daily gain on FTX. Alex Wice is worth the GDP of a mid sized latam city. Cobie is dunking on Gainzy for missing the move. Hashmasks were released last week. CryptoPunks are $5,000 but who would pay that much for a JPEG? CL is still speaking english and posting great trade alpha. Sam Trabucco is in the orderbook liquidating $10B worth of shorts while Solana is breaking new highs at $8. DeFi is outperforming every sector. Selkis dropped a 470 tweet thread of his Messari report and people are waiting for this weeks UpOnly episode. The Asia session is nuking us every night. But America is bidding.
Trump managed to get a 3% stock market wide dump in exchange for Mexico saying they would put some troops on the border
It’s incredible - it’s like me threatening to shoot myself in the head so my wife would make me a coffee
I'm getting many people asking for advice and knowledge on lev trading.
Which is ironic because I'm a publicly failed leverage trader. (2020/2022 liquidation arc).
So I'm going to post the things I learned:
1. Don't trade leverage.
2. Position size is everything relative to your total net worth. Bet small, win big.
3. Withdraw profits in btc/stables to cold storage weekly/daily. don't keep your entire networth on an exchange.
4. Don't use more than 3x leverage for BTC/ETH/SOL.
5. You don't need leverage on altcoins. If you do anyway, use even less leverage. XRP went up multiples, you don't need 25x leverage on it.
6. Cozy in spot is a vibe. If you hit it big on a trade retire from leverage trading.
7. Cross margin is very sexy, until there's a global market nuke.
8. Some of the best traders on here keep their position size and risk exactly the same every day.
9. Only buy red candles
10. Only sell green candles
11. money is your freedom, not your dopamine
12. Don't trade leverage.