2017-batch crypto trader. Ex-Bitmex trollbox legend. Binance leaderboard. Ex-FTX leaderboard. Still in the game but way less active
Joined April 2019
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I'm a pro at leaving the countries to travel pre-wars, avoided both the Russian invasion on Ukraine and today's attack on Dubai. 4 years apart and even drones are the same as used against Ukraine
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Pretty famous trader in Ukraine who, according to insides, had up to $30m under management did a suicide today in Kyiv inside his lambo. Just 1.5h before the bottom tick he posted opening spot positions.
My guess - his stops executed at the bottom.
I'm happy I was not using stops today. And still almost got liquidated due to having my bybit account just a bit undercollateralized at that specific moment, while overall only less than 50% deployed to the market. Would have felt so stupid to lose whole exchange balance due to not being able to send the funds fast enough (wallet could not even simulate transactions due to gas fees).
So, I just realised practically all major CEXs now charge interest on your negative perp UPNL (unless you have matching asset) above certain level that they market as "free borrowing". Isn't that basically a "scam" charge? It wasn't the case in bitmex days. You don't get interest on positive UPNL though and it also means that you'd lose money on hedged positions on the losing leg.
Unless I'm missing something?
People are talking a lot about Fed but not mentioning that much possible USG shutdown tonight. Every other year we get scary headlines but almost never it really happens. If Congress passes some temporary budget today this should result in a bounce up to until Monday imo. Hopefully
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i'm holding for the bounce but good chance we don't get it... buying even more on leverage sounds stupid. But if we get another direct -10-15% candle maybe converting eth to even more risky assets likes memes for the short-term bounce play could be not the worst idea
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As a trader I was excited for Trump pump and as a person who doesn't love paying high tax it sounds cool that he wants to reduce taxes.
That being said, it doesn't really make that much sense to me. Growing the deficit means higher inflation and therefore the Fed has to be more hawkish. Also, means the rich are paying less in taxes and the poor are paying more "in inflation". So even more wealth inequality, despite no changes to relative productivity between the classes. Am I missing something?
So just getting up to date with US macro news. Trump wants to pass large deficit budget and Fed preparing for this by announcing more hawkish position. (That has always btw been my trouble with Trump's economic plans - he doesn't control the fed so whatever fiscal stimulus he does through tax cuts will be countered by more hawkish fed fighting inflation risks. And i'd rather see both policies balanced). Macro experts, what is generally better/worse for the market - high deficit and high rates or lower deficits and lower rates? In other words, fiscal or monetary stimulus is preferred?