Even though December is usually a fairly busy month, I’m usually not the most active trader during this time of the year. I’m a family man and need to spend some quality time with my family, especially around the Christmas time. So, that been said, I can pretty much acknowledge that November most likely was the last active trading month this year for me.
As you can see, historically December is one of the busiest months. Why should it be different this time? Especially when news headlines are flashing with COVID-19 vaccine announcements one after another. Eventually it will be available to anyone who will be willing to get it. That is definitely a great news, providing hope that new year we will be able to get out of this virus crisis. Time will tell, of course.
What can be said about my November results?
In short: a lot of business, many transactions but little sense. One thing for sure – I keep sticking to my plan, to preserve my capital. In November I have made a relatively large number of transactions. Well, that’s the way how I usually trade. As I have already said, I do not open long-term positions in these circumstances. So, if the open position is stomping for a day or two – I fix that position without hesitation or remorse. Sometimes I open a trade and the position is in the surplus (as it has been with $ positions this month), but then the price returns quickly, and my trade automatically closes "at zero". It turns out like some "pointless action" after all. And, once again, you realize that there is no point in "looking for a deal" where is none, indeed.
I think I will also end the year like this – with a plus of about 15%. Which seems pretty good but knowing that at the beginning of the year my plus was 25%, then the current situation doesn’t please me so much. Nevertheless, I can’t really brag about it, especially when many out there most likely have lost a considerable amount of money.
Speaking about my trading plans for the next year: I am considering changing a broker.
I want a larger range of tools available at one place. Besides, I want to learn a new platform next year, to be able to trade everything besides cryptocurrencies. I’m convinced that these should be bought at crypto exchange, and then kept to yourself, in your “cold wallet” as opposed to buying “crypto derivatives” offered by brokers.
So, the next year seems to be rather exiting, stay tuned!