I talked about trading positions in an earlier post, but today I’m thinking of positioning in the sense of settings things in place so you’re ready for the future.
With the recent dip (or crash, whatever you want to call it), most of my trading has gone on hold. I’d already bought into a bunch of coins for the year, as you know, so there wasn’t a lot left over to invest or trade with.
However, I think that now is a good time, while the markets move sideways, to step back for a moment and reassess, to rebalance things to profit when prices go back up (which they will, of course).
To that end, I’ve made a few changes – practical or tactical – in my setup.
- I’ve moved my trading from Waterfox to Brave.
I love how Waterfox is about a hundred times faster than Chrome (which was why I changed), but it’s sometimes twitchy. Just this morning, I was in the middle of doing some small tasks to earn crypto (on a new site) and Waterfox just shut down on me. It came back up fine, with all my open tabs and no losses, but that sort of behaviour is unhelpful for trading. It’d drive me nuts if the browser did that right in the middle of a good buy or sell!
Waterfox also has a habit of getting stuck on MEXC pages, at least for me. I load the BTC-USDT pair and sometimes it works, sometimes I just get the turny spinny thing that shows it’s loading. Sometimes I’ll hit refresh and it just sits there looking at me, without reloading. I don’t know why – maybe the site’s too heavy or something? – but it pissed me off one time too many. Over to Brave for MEXC.
- Banking is back to Banking
I lost a fair bit in Copy Trading with this dip (which will come back, of course), which also hit the part of my Banking funds that I’d put into a similar copy trading setup to enhance growth. While I still believe that it’d be a good way to earn more, I decided I’d rather keep that separate, so I moved what was left (about $600) into SOL staking – a normal part of my Banking category. That puts me a bit closer to those lovely 20% SOL interest rates, too, though it’s still a long way off!
In future, I may want to look at moving profits from Trading and Copy Trading into Banking… I’m not sure whether that would be a rebalancing thing or a regular move. I’ll have to think about it some more.
- Moved $1k to Trading from Copy Trading
I decided to rebalance a bit, as Trading had about 20% and Copy Trading had 40% of my overall funds. Moving $1,000 puts all three categories at around 30% each (very roughly), which rebalances things nicely.
Moving those funds also opens them up to take advantage of this sideways period with small trades and makes them available for that extra bonus trading dual investment thing on CoinEx. I’m still learning how to use that effectively. I’m looking at ETH since a 1% gain is so small there and it’s moving regularly between $1,950 and $1,975. If I can hit that each time it goes up or down with a nice 100% APY bonus from dual investment, I’ll be a happy bunny.
All of this, as I said, is about positioning.
- Banking USDT goes back into crypto (as opposed to stablecoins) so it’s ready to pop.
- Small trades are back to earn a little extra while things are slow.
- If there’s a big price jump, Trading misses out but is balanced by Banking and (hopefully) Copy Trading.
Of course, all this could be me convincing myself that I know what I’m doing when, in reality, it’s all complete bollocks. 🙂
Are you preparing for a price rise? Profiting from the dip by buying while crypto’s low? Go on, tell me.
