🧵Tree's best and worst trades of 2022.
Lots of missed opportunities, some not utilized fully, but let's have a small recap of what we went through this year!
At the end: a list of lessons I gained through it all.
Total yearly Binance Futures PnL: +$4,177,316.217
Lots of missed opportunities, some not utilized fully, but let's have a small recap of what we went through this year!
At the end: a list of lessons I gained through it all.
Total yearly Binance Futures PnL: +$4,177,316.217
First, the best trades: a collection of my biggest hitters this year.
A reminder that most of your profits will very likely come from a handful of trades you must try to nail.
A reminder that most of your profits will very likely come from a handful of trades you must try to nail.
1) $AR Long on November 3, 2022.
Profit: +$206,937
Meta announced a partnership with Arweave, but price initially did not move at all. I decided to long a small-ish amount of $AR and sleep on it.
Woke up the next day 60% higher, and took profit.
Profit: +$206,937
Meta announced a partnership with Arweave, but price initially did not move at all. I decided to long a small-ish amount of $AR and sleep on it.
Woke up the next day 60% higher, and took profit.
2) Coinbase bounty on February 11, 2022.
Profit: +$250,000
While poking around Coinbase's new Advanced Trading system, I found out you could buy and sell arbitrary amounts of Cryptos without holding them and alerted the team of it.
Profit: +$250,000
While poking around Coinbase's new Advanced Trading system, I found out you could buy and sell arbitrary amounts of Cryptos without holding them and alerted the team of it.
3) $BNB Long on October 31, 2022.
Profit: +$250,028
Binance announced its first launchpool in a while, which I took as an opportunity to max long and exit shortly after.
Profit: +$250,028
Binance announced its first launchpool in a while, which I took as an opportunity to max long and exit shortly after.
4) $FTM long on November 3, 2022.
Profit: +$256,587
I found out through Discord that Andre updated his Bio to include Fantom once again, and decided to long on it.
He then tweeted about it a bit later, which I used to add more to pos.
Profit: +$256,587
I found out through Discord that Andre updated his Bio to include Fantom once again, and decided to long on it.
He then tweeted about it a bit later, which I used to add more to pos.
5) $FTM short and $YFI long on March 6, 2022.
Profit: +$355,153 and +$136,212
I shorted FTM on the news that Andre left the team and Crypto in general.
Longed YFI at the bottom because he hadn't been working on it in a while.
Profit: +$355,153 and +$136,212
I shorted FTM on the news that Andre left the team and Crypto in general.
Longed YFI at the bottom because he hadn't been working on it in a while.
6) $LUNC long on September 26, 2022.
Profit: +$546,350
I got the notification that Binance was gonna burn ther LUNC trading fees on-chain. While not the 1.2% the community asked, it was bullish enough short-term to max long it.
Profit: +$546,350
I got the notification that Binance was gonna burn ther LUNC trading fees on-chain. While not the 1.2% the community asked, it was bullish enough short-term to max long it.
7) $APE long on May 4, 2022.
Profit: +$705,528
As a joke, Elon Musk changed his profile picture to a collection of BAYC's. I max longed as much as I could on that news.
Closed all when Elon then tweeted "I dunno … seems kinda fungible".
Profit: +$705,528
As a joke, Elon Musk changed his profile picture to a collection of BAYC's. I max longed as much as I could on that news.
Closed all when Elon then tweeted "I dunno … seems kinda fungible".
8) $DOGE long on January 14, 2022.
Profit: +$840,185
After I found out that payments with Doge were enabled on Tesla's website, Elon confirmed that Tesla merch would be buyable with Doge later that day.
Profit: +$840,185
After I found out that payments with Doge were enabled on Tesla's website, Elon confirmed that Tesla merch would be buyable with Doge later that day.
9) $SOL short on November 8, 2022.
Profit: +$974,608
After FTX went insolvent and entered a preliminary deal to be bought by Binance, I openly asked why $SOL would be worth any number above zero.
When I didn't find any good answer, I shorted it.
Profit: +$974,608
After FTX went insolvent and entered a preliminary deal to be bought by Binance, I openly asked why $SOL would be worth any number above zero.
When I didn't find any good answer, I shorted it.
10) $SHIB long on April 12, 2022.
Profit: +$980,162
Market bought on news that Robinhood was adding SHIB trading. Even though Robinhood listings aren't great, I still had faith that unit bias + retail would pump it enough for a decent profit.
Profit: +$980,162
Market bought on news that Robinhood was adding SHIB trading. Even though Robinhood listings aren't great, I still had faith that unit bias + retail would pump it enough for a decent profit.
Second, the worst losses. A reminder that even profitable traders make mistakes, and you need to reflect on them to do better the next time around.
1) $GAL long on June 9, 2022.
Loss: -$209,505
After longing $GAL on a half-decent mainnet news (iirc), I bought more on the way down even though market was clearly telling me it didn't care about it.
Loss: -$209,505
After longing $GAL on a half-decent mainnet news (iirc), I bought more on the way down even though market was clearly telling me it didn't care about it.
2) $DOGE long on January 7, 2022.
Loss: -$305,372
Waiting for Elon to announce the Doge merch, I kept dca'ing down until I eventually puked the low.
Loss: -$305,372
Waiting for Elon to announce the Doge merch, I kept dca'ing down until I eventually puked the low.
3) $UNFI long on January 27, 2022.
Loss: -$368,203
An upcoming Coinbase listing I went in even though market was clearly past Coinbase listings and didn't care any more.
Loss: -$368,203
An upcoming Coinbase listing I went in even though market was clearly past Coinbase listings and didn't care any more.
4) $CHZ long on November 9, 2022.
Loss: -$486,904
A world cup play I took with the feeling that next CPI would come under expectations, sending us higher.
SBF decided my trade wouldn't go as I wanted.
Loss: -$486,904
A world cup play I took with the feeling that next CPI would come under expectations, sending us higher.
SBF decided my trade wouldn't go as I wanted.
5) $TRX long on June 13, 2022
Loss: -$574,945
A long TRX/BTC play that was actually decent, but I had low confidence in. I ended up puking the bottom and the trade eventually went much higher than my entry.
Loss: -$574,945
A long TRX/BTC play that was actually decent, but I had low confidence in. I ended up puking the bottom and the trade eventually went much higher than my entry.
Time for some lessons:
-Everyone has losses, even when they don't publicly announce them.
-That's fine as long as you understand them, and learn from them.
-Most of my biggest losses are trades I took with fairly low confidence, or trades where I ignored the state of the market.
-Everyone has losses, even when they don't publicly announce them.
-That's fine as long as you understand them, and learn from them.
-Most of my biggest losses are trades I took with fairly low confidence, or trades where I ignored the state of the market.
-On the other hand, my best trades are news where I took the opportunity, sized up appropriately, and slayed it (not perfectly, but decently enough).
-This shows that for most people, 90% of your pnl comes from a handful of trades. Everything else is preparation for those.
-This shows that for most people, 90% of your pnl comes from a handful of trades. Everything else is preparation for those.
-Prices going down doesn't mean your net worth has to. Stay objective and take the trades that matter.
-Cut your fucking losses and don't marry bags/positions.
-Work on your mental to truly figure out why you lost money on each specific trade.
-Cut your fucking losses and don't marry bags/positions.
-Work on your mental to truly figure out why you lost money on each specific trade.
Hope a quick insight into my best and worst trades of the year will be helpful to you going into 2023.
Fully expecting at least a handful of you truly paying attention to slay it.
Your 2023 goal: financial independence.
Let's get it.
Fully expecting at least a handful of you truly paying attention to slay it.
Your 2023 goal: financial independence.
Let's get it.
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