Crypto has been a let down for me. I had some big wins through out the years but just before I was about to earn life changing coin coin coin, as Jermaine Jenas once put it , things go belly up. This brings me back to Hive which I can always rely on because it is the only crypto that goes down where I do not really mind as I did not put any cash money in and the people who are still around at this stage at 8-10 cent are here for life. I think of Hive as one of the only crypto that has not let me down. The opposite in fact. I post quite frequently which increases my HP so when the price goes down then it is only time I have invested. I do not believe in any of the decentralizing nonsense as we are more of an oligopoly with a few Hive users deciding how funds are spent. But to claim we are decentralized is the same as telling me a story about some guy rising from the dead on Easter Sunday. Because there is not much barriers to entry and earning Hive is free there s a disadvantage to Hive in a way as it brings in the spongers and scam merchants who extract as much out of the blockchain as they can because it does not cost them money. In a way I totally agree with having to invest a bit into Hive to have a barrier for entry from the free loaders. When there is some sort of paywall it repels the dregs of society. If a college student did an experiment around whether decentralisation works , they could study Hive and clearly see that it doesn't and the main reason for this is dishonesty. Hive is like those new honesty boxes for eggs in the UK and Ireland. Some rural farmers are leaving eggs out with a price on them.They leave them unattended. Most people will abide by the rules but then one fucker comes along and takes all the eggs and the money box with the money in it and the system fails. And this sums Hive up to a tee.
Anyway back to my trading. Whenever I am on the cusp of major profit in a long position things just go south. Charts are set up to look like a token is going to moon. They reel you in this way and then bang. Dump. I was thinking. Why am I going long at all? The risk of a dump for any token especially nowadays is far more common than a pump. Before I was using the funding rate to find the most volatile coins. I would buy or sell accordingly depending on the trend line. I had some success until I was ultimately wiped out by a rogue bitcoin dump which as you know brings everything else down with it. Just when I made over €1000 from €100 and you think you are the best crypto trader ever , planning to give up the job , you are hit by a tidal wave of dumping and end up losing everything. So I decided to tweak my formula to match what was happening. What is the point of risking a dump? I channeled my inner Mr Miagi or Bruce Lee. Become the dump. Swim with the dump. Profit from the dump. So I set up a rule. From this day on I will not go long on any crypto. None, nada. I will only short sell. I don't believe in it anyway. Give me a bank any day of the week. No scams , very little charges. Money safe. If money stolen on a credit card then bank replace money. That will do me. The system is perfect. Then we have crypto. Scam central, Sending a large amount is sweat inducing as if you type a letter out of place , the funds go into the abyss. Volatile coins. Fucking disaster. Crypto always disappoints so why don't I profit from peoples tears rather than crying myself then turn into sweet sweet fiat to buy actual goods & services. Second rant over
They say it takes discipline to be a good stock trader and they are correct in this assumption. I was so wanting to go long on a set up that looked so good. But I looked at my new rule DO NOT GO LONG and climbed down from pressing the button. ONLY GO SHORT.
New Strategy to Trade.
- All trades on Hyperliquid. Compare funding rates with Binance.
- Futures no more than 5x leverage. Any higher from experience and arse will be lost.
- Token Must have a negative funding rate. My plan is to make more profit on the dump than I would have to pay when finding is negative (shorts pay long). So trades need to have a short timescale.
- Token must have an RSI of over 80 which means it is overbought
- Do a quick search for coin on X to make sure the token has not been backed by Musk,Trump or any of them scallywags
- Hit the button once token volume starts to decrease
- Don't sleep on an open position. Try to have all your positions closed during sleep.
So I am hoping tokens take a dip. I usually trade trending alt coins. The traditional coins don't go negative funding usually such as BTC and Ethereum such is the volume.
This week I traded USUAL, ACE , BABY , ANIME ,POLYX , HOOD ,SOPH,IP , REZ ,TST.
My new enemy is if a token is actually the real deal and it pumps and keeps pumping. This is quite rare at the moment as the token pumps and then when it is overbought then like a top of a rollercoaster it comes right back down from where it started. Oh how I love a shit coin. So my strategy is to sell at the top of the rollercoaster and not when we are half way up or down the roller coaster. I use the RSI and the volume dropping for these signals here. It is very important. Once the RSI hits over 85 on the hourly we are near at the top of the pump so I jump in once the volume starts to fall. I should set a stop loss at a higher support but I usually don't because 99/100 times the token drops like a bomb. The one token on the list that I am weary about pumping and keeping going is POLYX because Polymarket is making waves at the moment and I reckon it is going to moon in the short term so I stay away from this token unless the signals are really really good.
As per usual I refuse to put any more funds into crypto so I had 20 HBD left over from something so I transferred this into USDC and transferred to Binance. I am currently 5 x on my investment hitting $100 today so we are working well. The hardest part is the grind from $20 to $40 but once that is over with you can take profit with smaller increases to decrease your risk. The problem with me is staying disciplined. I tend to divide my wallet into two and three and use isolated margins so on the token that does go through the roof , I will have something to fall back on.
I shall post how I am getting on weekly. No post means my arse is lost and I am a loser.
Here are some of the trades that send me on my way this week
