Pedma's Portfolio Management Journal - 01/22/2024
Portfolio management, market scans, and more
Introduction
Good night everyone, Pedma here!
I hope everyone is having a great day despite the current market conditions in crypto. I know that the market is not the most favorable but bare with me.
I am going to be honest with you, I haven’t opened my P&L for the day.
I’ve been doing this for a long time and I know that it will be a decent loss, just by looking at the market, and it is what it is.
At this point in my career I’ve been through many drawdowns, this one is small compared to some of the drawdowns I’ve went through. But I confess that in red days such as today, I often skipped even looking at the portfolio P&L. I just went about my day.
I ain’t going to change the P&L. Everything I do is systematic, so I just let it ride and focus on going forward. At least that has always been my thinking. The work is done, I am thinking long-term, years from now, not today.
However the purpose of this newsletter is to be as transparent as possible and to provide you with the reality of what it means to be a REAL trader.
And let me tell ya, being a trader ain’t all rainbows and sun shines. It’s a very mean and nasty place and it will beat you to your knees if you let it. Ok now I am reciting Rocky’s quotes 😂.
No, but seriously, to provide you the full picture of what a trader goes through, I must show you the good times, but more importantly, the bad times. It’s from the depths of the market that we rise higher and stronger.
Let’s get into today’s journal,
Pedma
Index
Trading Tip of Today
“Tldr” (Too Long; Didn’t Read)
Crypto Market Report
Personal Portfolio Performance