SHITPERP to $975 and above

2020年2月12日

It's alt season and now is a good time to buy altcoins while they randomly pop off. If you don't know what to buy, an index of the lot is ideal.

Here is the list of coins that comprise the index for SHITPERP, BULLSHITUSD, and SHIT0327:
help.ftx.com/hc/en-us/articles/360027668812-Index-Calculation
Note that shitcoin in this context doesn't mean poor FA, merely low market cap coins. I like some of the coins as they performed amazingly last time. ICX, XVG, BCD, NANO, XZC are to include a few. Some have yet to pop off.

Price just hit the midpoint of the daily range and the time is past 1200UTC, which has been a bullish trend for a while now.




As an addition if you're bearish, this would be a great long hedge if you're short bitcoin. Check the NVT Signal level right now:



If this proves to be be a bearish level like 2017, it would mean alt season actually has just started and there is more to be made in altcoins vs. bitcoin.

2020年2月12日

ノート

Nice! Made an SFP on the midpoint which should have been expected. Then it pumped as it should've. I've cut the position instead of hedging short due to the trading fees that FTX imposes. Read on.

FTX is a strange exchange. At the lowest, you can be expecting to be paying around a total of 0.04% tax in fees to enter/exit even when using limit orders. As I might misunderstand it, their justification for no maker rebate is to prevent artificially tight spreads, and to "incentivize" traders to provide liquidity. Now they do explain in their articles why they believe their way is better, and maker fees aren't too extreme to be of much effect for swing trading.

Because of that, you should really put thought into where you would want to exit. An example:

You have just entered the exchange and don't have the volume traded nor any FTT to alleviate fees. You want to test out the site and punt a long on SHITPERP by being filled via limit order (0.02%). You want to take profit, but get greedy and move up your take profit. Your target is missed, so you decide to market order to exit (0.07%). Unfortunately, the market maker that provides liquidity for the orderbooks keeps the spread wide. You've marketed out, and now have lost an additional 0.05%-0.45% to the wide spread.

You can mitigate these fees by using special links, such as: ftx.com/ . This would reduce the maker fee to 0.019% and taker to 0.0665%. If a discount URL was used to sign up, the total fees paid can range from 0.089% to 0.5355%. This matters a lot if you're using leverage, since fees paid are based on the notional value of your position.

If you hadn't used a discount promo, you could've lost up to 0.54% of the total trade due to an impractical or unrealistic take profit. This means that it is even more important for a trader to find better entries and to frontrun reversal levels. Always re-adjust bias and take profit, nothing runs forever.


In an extreme case, let's say you just can't wait to get a fatty trade in. You crank up the leverage to x101, which adds a flat 0.3% fee to both maker/taker orders. You market in (0.10%) an order and eat the spread (0.05%-0.45%). You exit in profit, but market again because you don't have the foresight to place an order to exit (0.10%+[0.05%-0.45%]). At the highest, you've been taxed 1.1% of the entire trade setup. This is most definitely not ideal.

References:
help.ftx.com/hc/en-us/articles/360024479432-Fees
help.ftx.com/hc/en-us/articles/360033394492-Maker-vs-Taker-fees