Hey All,
Two days back I talked about this crypto exchange that provides futures and options trading. You can refer the post here - India's Leading Crypto F&O Exchange. This exchange was introduced to me by my close friend and he only suggested me some trades to do here on this exchange. Based on his suggestion, I decided to invest Rs.25K+ and wanted to see how it goes. In this blog post, I am going to explained what is the current status of my investment whether I made a profit or is there a loss that is piling up. Well the good news is that, I am doing good and there are some profits that has been made. Here is the PNL profit and loss graphs that is indicating the same of Rs.7K+ that has been made so far. So the question is do I book the profit or remain invested until the expiry date of #BTC and #ETH contract arrives.
Profits are there for sure but let me tell you that these are very risky trades. Delta exchange provides leverage 100* but if your contract breaks the range bound of the crypto asset that you have bought then the contracts can be immediately squared off. And if you dont want the square off to happen then you need an extra cash in your wallet to auto-top-up your contract margins so as to avoid square off. Here is one example of a fresh #ETH futures contracts that I made yesterday based on the advice from my friend and currently I am holding it. I have sold these #ETH contracts at different price levels and this is for the 05th Septmeber expiry.
If I square off all the postions right now at a click of a button. I am making close to $3+ but then that is not the objective and I still have more days to go before the expiry reaches. The point is every day there is going to be a decay accumulated and if the #ETH price remains with my range bounds then the profit can reach somewhere close to $100+. And be very frank, I am not going to wait for $100+ even if I get $50+ excluding all the trading and platfrom fees I should be good. My first goal is to get my investment back as quickly as possible and then leverage the profits to further build up the crypto portfolio. Just giving it a try not sure if this is going to work 100% or I am going to loose all what I have invested i.e. Rs.25K+. One needs to take that risk to invite those profits. ITs that simple NO RISK NO PROFIT.. Here is another example of one #ETH contract with ROE more than 96%...
So where do I go from here? Well the answer is pretty simple, I will stick to the basic and not try to mess up things. Just wait and watch as the each decay gives me some profit I am good with it. And once the profit accumulates and is within my expecations I book profits and move on with making new strategy or simply investing in other contracts. Ok and one more important thing before I end this post its around the cash deposit and withdrawals which is like everyones favourtie question. The short answer is that it is quick and with 20 minutes the withdrwals rquest is honored. I self tested it out but neverthless it is always good to check the supported payment options, applicable fees, and settlement timelines before initiating transactions on any other unknow crypto exchange platform. Before I end this post, I just want to make it clear please be carefull incase you trade in futures and options. I am just following the strategy that is being suggested to me and I am going with an intial investment which I can afford to loose that it. Rest is upto you to decide whether to invest or not. Ok this should be it for todays post on - "Exploring Delta Exchange - Future & Options Crypto Exchange - Part2 - Some PROFITS..." Happy Investing in Crypto.... Cheers
Exploring Delta Exchange - Future & Options Crypto Exchange - Part2 - Some PROFITS...
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Did you hear about #Delta Exchange? Do you trade in Future & Options #Crypto... Any other alternative to Delta Exchange?
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Best Regards
Paras
Image Courtesy:: delta exchange, pro canva license,
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects.