Crypto trading strategy update - 17 January 2021

Most of my trading will be 'set and forget' - passive positions which I aim to keep for 3 to 6 months.

I will scratch my active trading itch with a small 'acting trading' bag I can play around with. Likewise, any other strategies (for example, buying Uniswap stuff) we'll allocate a small amount of time and capital to scratch that itch, too.

But my principal trading strategy will take up 90% of my time, energy and efforts.

I. Strategy

The Monthly Session (3-4 hours)

Have a Monthly Session to:

Do a review of how the trading strategy is going and post this to TradingView.

Cover:

Macro analysis of the market. Try to determine where we are in the bigger market cycle.
What's my current portfolio. Does it need rebalancing?
What are the bigger trends that are impacting the markets - look to anticipate emerging trends.

Learn trading skills from one (1) trusted source. For example - Fibonacci extensions.

Practice this skill in the moment on interesting charts (For example, UNIUSDT).

Use this as a guide to the next 30 days of trading.

The Weekly Session (1 - 2 hours)

Have a Weekly Session to:

Chart the majors - BTCUSD, S&P and DEFIPERP
Do any active trading that's required by my trading plan (entries, sells)
Manage and update my watchlists
Go back over interesting research or tweets and write them up on TradingView

I will also need to go through a series of pre-determined questions, in order to make sure I'm not losing focus on important points.

For example - 'what trend is emerging that most people aren't looking at right now?' 'What market is running hot and what's going to run hot shortly afterwards?'. So on, and so forth.

Every day - casual research (20 - 30 mins)

If I have time, do a bit of research from trusted sources.

Like interesting tweets from trusted sources on Twitter.

This should then be worked into the Weekly session.

II. Organisation

Trello for the big picture

I will use Trello as the central hub for all of the work I'm doing - use cards to keep track of active positions, watchlists, logging trades.

I will also diarise all my trading sessions using Trello to make sure they happen on time and on schedule.

TradingView for charting, keeping a journal and setting out research

I'll use TradingView to document everything that I do, all of my trades, all my thinking. I'll print off everything I've done on TV every year so that I basically have a 'trading bible' that I gradually develop that catalogues all my wins, failures and learnings.

Twitter and Telegram to keep my ear to the ground

I will only follow decent and credible sources in order to stay in a mature trading mindset - won't follow shills, idiots or moonbois.

I'll create lists to follow and will 'like', retweet or screenshot anything decent. I'll then return to that in the weekly session, and try to write up and make sense of the picture that's formed by that chatter so that I have ownership over that information.

I'll also update my Trello watchlists.

Multiple exchanges to spread cross-party risk

I will make use of multiple CeFi exchanges and other services to spread risk and benefit from different markets.

I will use every emerging DeFi exchange for at least one trade, in order to benefit from future airdrops.

Excel for all records

Yes I know this is really old-school but I want to get into the discipline of actually going through and manually calculating all records.

This actually makes me think through trades more carefully than if it's in the background.

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That's it for now. I will keep updating this strategy throughout the year!