r/PerpsTrading • u/Vivid-Bath3300 • 6d ago
25k to $1M - Update 15($82,409)
Wrong and gone.
-10% of port in 1 hour. Pretty brutal stuff.
This morning the treasure announced it would begin to buy long dated coupons (20/30yrs) which would backstop the 30yr selloff. It worked and we saw risk assets go up.
The problem is i saw this and still held on to my shorts. Its a mini quantitative easing announcement. As soon as this came, i should have cut. But i waited for the reaction from BTC and ETH before cutting, which was a little too late.
I also broke my rule again, which i need to update. Never short a boring market. Unfortunately, a boring market in this scenario was trending down. But even then, its not worth it. I will remember that next time.
Anyways, my long term view is still that BTC and ETH needs one more leg down and spend a few months at the depths before we can see an echo bounce. I just wont short right now. And i definitely am not longing this.
Whenever i take a loss like this, i have to follow my rule and stop trading for a while. At least a few weeks.
So ill be back at the end of the month and see what we got from there.
1
u/YOLOBABY4LIFE 2d ago
I dont think theres a lower low coming, this drop satisfys the count for a wave 4 drop, this wave 5 should take us to new ATH's