It’s the end of the second month of trying this new approach (once again, yes… I know 7 weeks is not 2 months *sigh*) and the numbers are screaming at me to make changes to my approach.
The last week has been a relief, with BTC popping back into the 90s. I also spotted a little “trick” (i.e. something obvious that I hadn’t thought of before) to help maximise my copy trading income – with a little added risk, so I won’t be doing it often. I’ll cover that in my two upcoming mid-week posts about Copy Trading.
Still, the monthly figures are quite surprising, But for now, let’s look at this week’s numbers:
Yes, it’s still refusing to go into the positive. So close, too – only about $250 short of finally having a stupidly distant ETA on that £1,000,000! The weekly equity chart has also curved nicely back up to near where it was before this dip, which is wonderful. Keep going like that! 🙂
In detail, everything’s green this week:
- Trading up by 6.27%
- Copy Trading up by 8.70%
- Banking up by 6.73%
- Overall up by 7.3%
That’s mostly because of BTC and ETH prices coming back up from the dip and bringing everything else with them, of course.
The monthly numbers are, as I mentioned, a surprise (to put it mildly):
- Trading down by 20.45%
- Copy Trading up by 50.86%
- Banking down by 19.04%
- Overall down by 0.93%
To say that Copy Trading is carrying everything would be an understatement at this point. 50% gain in a single month – a month with a massive dip in it – is absolutely huge and screams at me to dump everything else into that category.
But I’m not going to, for 3 reasons.
First and most importantly, the other 2 categories exist for a reason: trading to keep my brain busy, calm my impatience, and stop me constantly fiddling with things, banking because I need to HODL at least some crypto as crypto for the very long term, and to gain from price increases (as I explained previously).
Secondly, I have another test I need to run on Copy Trading before I decide how to deal with it – the next 4 weeks are dedicated to that test. Despite having to constantly grit my teeth and tell myself that I’m not losing out, I’m checking things are solid.
And thirdly, Copy Trading is the highest risk, depending completely on someone else, and I’m not comfortable relying on it with all my crypto!
For now, I’m going to be happy with a tiny loss of less than $130 in a month where BTC dropped more than 15%, and go think about this week’s mid-week post about Copy Trading.
How was your month? Did you suffer horribly from the dip or have you profited from it? Bought the dip? I’d love to know!
