🍎 Weekly Report (11W'24):

COPY TRADING:

• Binance: MCD Fidelity +3.60%
• Bybit: MCD Dioxys +6.08%
• Bybit: MCD Bombus -2.05%

On average, all portfolios grew by +2.54%.

Last week, on Friday and Saturday, the cryptocurrency market experienced a drop without subsequent recovery, as the price of Bitcoin fell from $73,880 to $64,750 (a decrease of -12.76% on Bitcoin), while altcoins dropped on average by 20-30%. For our trading strategies, such losses are commonplace in the event of non-retracing declines, as our automated systems buy on the dip, but in the absence of growth, losses are fixed. Such situations occur approximately once a month.

What should be done after the drop? We recommend either increasing capital or leaving it as is. In the first case, losses will be compensated faster, as the compound interest from the growth of capital will start to work, considering that our trading strategy is profitable in the long term. Reducing capital after a drop is the least effective solution, as losses will recover much slower. Additionally, there is a risk of cognitive bias, where during profitable weeks, individuals strive to increase capital, missing out on profitable days with less capital, but then reducing capital again after subsequent losses. Therefore, the most reasonable tactic would be, on the contrary, to increase capital after a downturn, which will allow for quicker recovery of losses.

Furthermore, we recommend withdrawing profits once a week. For example, set Tuesday of each week for this purpose. This is a good practice.

Thank you for your trust! 🙂

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