This aggressive account run up is something I've focused on doing multiple times, and there are reasons for it.
https://t.co/ufxlKrgs9m
I won the original FTX Moon or Doom tourney after 23x'ing an account in 48 hours. (Probably the first time I did this in public a few years ago)
https://t.co/NO6hnV9Kye
The Why.
1. I like to play aggressively with a total I can lose without worry.
2. I complete this during times I predict for large upside momentum swings.
3. I do this when I don't want dominant crypto/trading exposure but want to take advantage of the perceived good conditions.
And maybe most importantly, I have edge here.
I'm a former scalper turned swing trader. So when conditions appear that I can combine the two effectively it tends to be a particularly effective.
The How.
Timing. Momentum. Conviction.
A concoction of those 3 points. Each time I do this, I try to time it around HTF bull divs that are developing.
It then becomes:
> Assume period of good upside
> Attempt to position very early + aggressively
> Let playouts happen on HTF
This is a plan rooted in the higher timeframes and executed in the lower timeframes.
It revolves around assuming a great upside period of the markets.
It becomes about timing the moments of impulse but then continuing to hold through because of the higher timeframe picture.
You can see from the stats, the winrate isn't high. The approach gets me into position and immediately out of position IF I'm wrong in the timing of the impulse.
Basically I need the market to move in my favour almost immediately.
Another thing you'll notice is the clear spikes in PnL on 2 prior occasions before a period of being flat.
This is the approach in action essentially. Seeing the impulse/timing working, then the market in consolidation, then the next impulse.
I do not spread out capital or look to aggressively rotate - remember the approach is about timing and holding through HTF plays.
So the approach is much more orientated from squeezing the most possible from strong moves (adding to positions) vs trying to move around often.
This time I was a spot buyer of $BTC and $ETH (expectation on a large playout) while taking an account up to give me some alt exposure.
Spot being the preference for size + reducing mental stress of swinging PnL of significant size.
I've got a little longer to go now as I'm currently in the
@Phemex_official tournament on another account where I've turned $8,000 -> $30,000 in 5 days. (Currently 2nd)
But the job isn't done obviously on that side.
Once this period of volatility ends, I'll rest.
If you want to attempt something similar, my best advice is:
1. You need to know/anticipate the change in conditions
2. Only use an amount of money you can lose without impact.
3. Know when it stops working/when you reach a large $ sum for you and STOP
4. Be aggressive.
Do not use this approach for bull markets. In bull markets you want to buy and hold and not mess around as often with degenerate building.
When in macro protection mode I like to allocate some degenerate funds to run up.
I covered this in a bit more detail in the Casual Friday I recorded with
@CryptoCred - plenty of discussion around this run up.
https://t.co/aPD7EarbSo
You can find me on stream twice a week here:
https://t.co/dMwi4gtM2s
I covered and documented the journey in
@TheHavenCrypto along with my thoughts and considerations.
You'll find all of my educational material there along with psychology discussions at times like these.
