Catching knives

So I’m trying real hard to stay cool right now. I woke up to find that my levered ETH position got liquidated earlier, so I lost about $1500. It’s worth like $60 right now, and the market still seems like it wants to dump. CryptoTwitter is going a bit nuts right now. Everyone thinks we’re at the bottom, no one wants to risk a long right now. My BTC position has some room, but apparently alts are dead. I don’t even need to look, but I’m wishing I’d taken some risk off my EOS and ADA positions last week. Oh well.

I spent a few hours last night looking through the Perp Finance repos, trying to come up with a calculator I could use for position management. Opening a second order when you have a position open in a market doesn’t give you one position, it just modifies the already open one. And when you go to add or remove margin, it will give you the new leverage amount in the pre-transaction page, but you can’t tell what the updated liquidation price is from there. So I tried to build a spreadsheet for it, translating BigNumber JS calculations into something I could render in a sheet. I wanted something that would let me calculate the liquidation price for any given change in my position, but it was too much for me at 1AM.

My ETH position is essentially worth $20 right now. My BTC positions are good for the moment, less than a thousand dollars from my liquidation price. Meanwhile, Twitter’s calling for low 20’s. And to further compound things, I accidently went all in on my position the other night when I meant to put a quarter in. So things are a bit of a mess right now. So I’m locked in in my IRA position, but I’ve still got 50% of my allocation for ETH and BTC sitting on the sideline. I’m not sure I want to bet against the trend right now though. Things are looking pretty ugly.

I guess my only choice is to shut my computer down and take a walk outside. I’m not going to cut my losses, I’ll just take the L right now and try not to compound the issue. I’ll need to plan out exactly what I’m going to do from here to prevent any (more) stupid mistakes.

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