Hyperliquid Journey
I'm still very much enjoying playing around with Hyperliquid and it was a profitable week making 415$ with some leverage trades which overall puts me at a 384$ profit with just initial funds of 1000$. I understand that I'm taking quite some risk and already plan to reduces this a bit. I did sell my RLB this week which gave me 3000$ extra to get on Hyperliquid, and I will use it for some Spot buys, leverage longs, and low buy orders in case there is a big market liquidation event all with an eye to possibly run this portfolio up while the bull run is still on.
However, I want to make sure that it doesn't turn out in one of those things where it works until it doesn't anymore and I lose everything in one go. One of the reasons why Crypto is so volatile is because way too many people gamble with leverage on the upside. This gives a situation for the whales to 'manipulate' the market down so they all are forced to sell which pushes down even further causing more gamblers to be liquidated. If things go down in crypto, it's also most of the time the entire market, so having different positions open on longs for a large part of your budget is also a recipe for disaster to strike at some point in time.
To counter this, I will only have part of my budget in longs at the same time and keep at least 3 or more bullets in place to long a coin it it ends up going down way more than I anticipated. I also plan to use part of my Hyperliquid money to set really low orders on some coins in the hope to scoop some up in case there is a temporary collapse. I also only will go long as I don't think going short is the smartest thing to do in a bull market. I will avoid getting in on coins that already went up in the short run and always will wait for pullback prices well below the all-time-highs.
Week #3 Trading Journey
This was a pretty fun week and it's easy to love Hyperliquid when things are going up. After a couple of failed attempts that got liquidiated at a $PUMP Long, my 3rd bullet turned out to be a good one getting in on a 5x long at 0.002659$ price and getting out 5-6 days later at 0.003341$ for a +128% Profit putting me up overall on Hyperliquid after paying some initial learning money the week before.
I also took a long on $SPX which is one of the coins that I'm watching as it dropped quite a bit while getting to a potential support zone. I got in at 1.5477$ while the price now is up to 1.76$ which puts me up 68% on the Leverage trade at 170$ with the position still open.
I also opened a tiny long on the $HYPE token but I plan to close that as instead I will be cost-averaging some Spot HYPE. I did buy some more Hype up to 10 and staked it which will give me a minor 5% discount of the fees there.
Hyperliquid Lessons Learned
I didn't really learn any lessons this week aside from the fact that it's all still way too random at the moment especially the points where I'm taking profit. So I will see if I can get more structured in that.
Making a Watchlist
I aim to focus on just a couple of coins and there are plenty to choose from on Hyperliquid. For now, I'm still watching $PUMP / $ SPX / $HYPE and also will be adding $SOL / $TAO / $FARTCOIN / $SUI along with some others.
Results So Far
After being down -42$ last week, I'm now up +384$ but it's going quickly up and down as suring the writing of this post it now is at +485$
| Week | Total deposit | Total Balance | Week | Total |
|---|---|---|---|---|
| #1 | 500$ | 500$ | 0$ | 0$ |
| #2 | 1000$ | 959$ | -41$ | -41$ |
| #2 | 4000$ | 4384$ | +415$ | +384$ |
Conclusion
It was a good week in Hyperliquid that produced some solid profit. All of this makes me want to take it a bit more serious so I increased the funds I have available there from 1000$ to 3000$. I'm looking forward what the new week will bring and will come with another update in 7 days.