Updated Trade Tracker
A New Column Was Added
Ouch! It really hurt selling out of some of my positions at a loss this morning but I felt it was the best choice at the moment and I have several reasons for doing so:
#1. Coinbase still has me locked up and I can’t transfer MCO2 to another exchange that I am on. Swapping here made sense to me, if for no other reason than to get out of Coinbase and have all my trading positions in one exchange.
#2. Some the coins I was in were not coins I would feel comfortable holding should we drop further.
#3. Not only do I like the coins that Robinhood has added and feel more comfortable holding them longer term, but I also do think they’ll hold up better than what I had if we drop, and they will accelerate upwards more rapidly should we reverse our crypto drawback soon.
Now, let’s talk about the losses I took and what they meant to my trade tracker and portfolio.
First of all, you will all see I sold 5 coins this morning. I really wasn’t liking the way any of them looked recently. The biggest loss I took was on AXS. These added losses look very ugly on the spreadsheet, however, as I was averaging them up I noticed that, even though I still maintain an overall average gain since beginning the Trade Tracker, it didn’t match the gains that I have managed in my trading portfolio. This is because I was not calculating weighted averages into my formulas. I’ve now added this data to more accurately reflect the importance of weighing risks.
You will now see a new column in the sheet called “Weight”. This represents how much of my funds I designated towards a position. You all know that I frequently suggest splitting your positions into no less than four. And I often recommend 10% per trade. Well, I do take my own advice. Frequently, my positions represent 10% of my overall reserves. Sometimes less (i.e.- Jasmy) and sometimes more (i.e.-OXT). Obviously, this depends upon my current bias towards any given position.
You can see that this new column now gives me the opportunity to demonstrate to you all how important it is to weigh your risks carefully. In one case, it really did pay off positively for me. You’ll remember that on OXT I had stated several times that I went in big on that trade. That was true. About 25% of my portfolio went into that one trade and in the end, I gained 17.5% on that portion. This moves the gains of my portfolio up a bit as compared to the flat average, and this numeric value can be observed in the new row, “Weighted Avg.” Weighted Avg. is basically what my trading portfolio performance will be.
Here’s the new public “Trade Tracker”:
And for paid subscribers, you’ll find the new data available in your spreadsheet attached below which will include all of my current holdings.