Just realized that some people followed this trade and still holding it because I forgot to post the info that I’ve already closed just a couple minutes after the trade.
Sorry for your loss, but here’s the tip:
- If you are doing a news trade, trade the expectation, close when the expectation is hyped and momentum loses (trend reversal)
- news trade with a stop loss (SL) based on price, usually with a 1% Stop Loss tolerance. If your SL price is reached then it means market don’t wanna buy your bag at all, you should then exit ASAP. As I mentioned in the tweet, my SL for the trade was 30000.
- all my trades posted on twitter will be closed within 5 hours, I don’t trade trends or macro stuff, I only trade the news, usually I close the trade in minutes interval.
I closed the 1.3m short trade on fake news 10-20minutes after I posted on twitter, but I currently still holds my 12 BTC spot hedge at 29000.
Before Cal AI, I would’ve driven 20 minutes across town to let someone “pick my brain” for a free lunch.
Now I do the math.
One hour of my time is worth $1,000 in consulting.
Unless that lunch costs more than $1,000, I’m losing money
Free lunch is only free when your time is worth nothing.