P&L: 29-July-2017

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Weekly P&L -0.3k: +6.5k BIDU, -7k crpyto assets, futures trading +0.2k.

Despite facing some operational issues reducing position size we could take in BIDU, our strategy was sound and the stock is now trading at our buy price limit of $220. Looking to take BIDU off the table at $230 next week to free up capital for other high-alpha trades.

Our crypto strategy wasn’t quite segregated enough. There were originally two trades: first buy into crypto assets as a value investment during a liquidity crisis or price dip; second provide liquidity to the market during liquidity crisis with the aim of getting out within a week. After profiting from the liquidity crisis we decided to scale up our value investment but in hindsight probably should have been more patient and timed the entry a bit better.

Main reasons for holding EOS over ETH:

  • EOS product is an infrastructure solution for future users of blockchain
  • Given ICO was hot, potential for 100% upside again on breaking news (blockchain scheduled to go live in September)

 

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