Journal Entry Week of March 21st, 2021

by Alexander

Accomplished

As there have been no other entries nothing is going to go here for now.

Goals For this Week

  • Strategy development for stocks, primarily swing trading holding between 3-10 days.
  • Get my program that parsed my blog and auto updates twitter to a more complete/less hacked together state.
  • Move non-trading applications off my personal pc and cloud servers onto my raspberry pi to save on server costs and eliminate my PC’s need to run overnight.

Thoughts on the Week

Going to really focus on these goals and try not to get distracted by other things that I want to do with my bots and other applications. The weather is starting to get nice again so I should be able to start working in my daily runs with more consistency. This help me decompress after work and get into the proper mindset to take care of the things I want to do at home.

Trading wise things have moved back down to expected rates of return. This month has been much slower than the previous months and I am back to expecting 1-3% per month. Currently my systems have me swinging a small ETH-USD trade. I had the same system get stopped out on LINK-USD this weekend, so I am not too hopeful regarding the ETH-trade as often I see one or two pairs trip this strategy around the same time and get a similar result. Not always of course but I unless ETH starts pushing the $2k mark I am going to find a rally hard to maintain. Which bring me to my next thought, I am almost feeling bearish.

None of this is advice, and I am certainly not selling that which I am holding, but I can see how general market sentiment might become board with BTC if it does not push back over $60k soon. There are likely to be a great deal of retail who were looking for a quick buck and either are not going to continue buying at these levels or, as the euphoria wears off, begin to second guess their initial decision, and start to take small profits or get out before it gets too “scarry” for them. Combined with most retail having glass hands, any slight market correction is likely to cause a plethora of panic selling. Not entirely sure what I think institutional money is doing or where they will fit in in the next crash or bear market, but I assume they are not going to just dump money in and buy all of retails bags on the way down. Simply put, I expect to wake up to a $40k BTC more than I do to a $75k BTC. None of this is going to stop me from trading my systems and honestly it might just be me being hopeful as bear markets usually bring volatility and I have historically done will in these types of environments.
General sentiment of the week is its going to be a grind. Work is well… work and then working now to replace work instead of playing now to forget it can be a bit exhausting at times. Mix in the general craziness that effects all of us who are humans on this great big, wonderful, mess of a planet and there is most certainly a Monday slump that needs overcome in order to keep pushing for the things you want in this life.

Have a good week everyone! I’ll have an update on how this week went and what the next week’s plan of attack will be next Sunday.