Digital Slowmad newsletter
24 February 2023
Crypto portfolio update
Net return: 608.5%
Comments: It's been a choppy 2 weeks with some serious whipsaws across various chart timeframes:
This is the type of market phase that punishes short-term traders on both sides; Many have undoubtedly taken a hit by these erratic swings.
As mentioned in the previous newsletter:
So if you subscribe to the echo bubble thesis, here's my 2 cents: Just enter at a price you're comfortable with, be patient (hold through the drawdowns) and wait for the thesis to play out.
Mid-curve traders who try to trade every price swing will see a quick erosion of their portfolios.
Now is not the time to 'get clever'; Now is the time to 'be dumb'.
Quote of the week
Many times in trading I've learned that the more I look, the less I see.
- Anthony Crudele
Jewel CEX listing
The latest DFK AMAs suggest that a CEX listing announcement is imminent.
The top guesses appear to be Crypto dot com and Kucoin... and if either turns out to be true, that would be good news.
This is an event I'd normally be interested in punting on, but Jewel's low trading volume is an issue for me.
The thing is... even a mid-4-figure order can move the price materially, and the last time I fully entered/exited a position with low slippage it took me a few days each way.
So, I'm probably going to sit this one out.
If I change my mind (or decide buy a small bag), the private group will be the first to know.
Good luck to everyone who jumps on this train!
Street Fighter as an 80s movie
Check out video of Street Fighter imagined as an 80s movie... generated by AI:
Thanks for reading, and have a great weekend.
P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com
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