Recently I saw a great post on Whirlpool.net.au which basically described YOLO trading as essentially abandoning risk management and position sizing on the basis of you only live once (and the post essentially surmised that it mostly younger investors - not so sure on that one but possibly I guess).

From my perspective, I essentially see a YOLO trade as putting it all on black at roulette table. You've got a basically 50/50 chance that you lose or win the trade. 

Statstically speaking you could have a series of wins (and you see this in posts on rWSB, Whirlpool, rASX_bets and various other trading groups and forums), but eventually the stats wil revert to mean and those traders lose the lot, particularly if a series of wins has build an attitude of it will bounce back.

Essentially I think an all bet is just a symptom of the get rich quick mentality that many have and incredibly dangerous to long term success in this game.

​Rant over!

As I write this (Monday evening on 19 April 2021), Bitcoin has just suffered a 15% fall on the basis of speculation that major jurisdictions may undertake regulatory action (at least that's what some analysts are saying).

This to me just shows how quickly these highly speculative markets can turn, and before some one accuses me of being no-coiner or the like, I'm currently holding a small position in a crypto-backed Exchange Traded Product. 

Basically, my rant here is that trading something like crypto needs to be carefully managed, but even so can still hurt. I'm trying to work out what to do with my position which is down around 8% from Friday's close and rapidly approaching my stop (at about 0.5% of capital at risk). These big swings can be hard, even if you're aware of your psychology and actively manage it and have proper risk management techniques in place. 

The other thing I find interesting, despite the fall in the major crypto assets, the meme coin Doge is still climbing, go figure. Utter madness.

.I wanted to create an extra space where I could post in a bit more informal, short form way and this the space for it. I also wanted to leave the main blog for longer, more detailed posts. I'll continue to update that weekly.

​But this section is likely to updated a few times week or more. I'll just have to see how frequently I get inspired.