Here is my monthly update.
For my last portfolio update, please visit link.
Portfolio
Overall my portfolio value lost 10%.
Bitcoin has been weak this month breaking below 42,5k USD which is my level to watch. I had to cut my losses. Today it reversed and is showing strength. As I write its at 47,5k.
Based on price action my interpretation is that it seems to be bullish and so I have to consider increasing my positions. My guess is that Bitcoin will be the strongest crypto. Should I buy more before the weekend or after? Or both? I don’t know yet. If it’s a false move it’s bit risky before the weekend since I can’t sell until Monday.
In my Swedish portfolio Gapwaves triggered my stop loss. I tried buying MIPS on a breakout as well as Evolution but got stopped. All cash at the moment.
Foreign portfolio:
I bought Track Bitcoin II, Solana, Westfraser Timber.
I’ve stopped out of some of my The Ether Fund. I stopped out of my HUT and MARA as well my smaller leveraged bets on Bitcoin and Ethereum (MFL DCR1 VT2). I stopped out of Novovax and ZK international.
I did rebuy MFL BTC1 VT22 (Bitcoin with leverage about 2x).
I took profit on Cardano as planned, 50% at my target and 50% at a trailing stop loss.
I doubled my position in SEA.
My trading account has not been going well lately. I’ll try trading smaller until the trades goes my way.
Best interesting links this month:
Lessons learned:
- Rule 1: Cut losses early.
- Rule 2: Cut losses.
- Rule 3: Cut losses.
Plan
- Stick to the plan
- Read less on social media.
- I’ve finished reading Nicholas Darvas book. I plan to summarize my notes for easier review in the future.
Reading list
- I’ve added books from William O’neil, Mark Minervini and Nicholas Darvas to my reading list
- I’m still reading Extraordinary Popular Delusions and the Madness of Crowds (paused!)
Available for free at https://www.gutenberg.org/ - Summary of Berkshire letters (see July monthly update)
Good luck and trade safe!