My Hyperliquid Journey #4 | It's Too Easy So Far...
Hyperliquid Journey
It was another bullish week in the crypto market which makes trading on Hyperliquid feel like cheating as it all goes so easy. However, I'm very aware that this also goes the opposite way in case there would be a market correction and I will be putting in some low offers to hopefully catch a correction.
I also managed to make a referral link which apparently gives 4% discount on fees which I didn't know when joining myself. You need 10k of volume to be able to make a code which is nothing as the leverage amount counts toward it.
So to anyone who wants to test Hyperliquid themselves, make sure to use a Referral Link to do so as it's better than joining without.
Week #4 Trading Journey
Basically last week, I opened a couple longs on different coins with smaller stakes and all but 1 did well.
I once again managed to get great profit from the $PUMP token getting in for 500k PUMP at a 0.0032$ price while getting out again at 0.004$ 3 days later. The 0.004$ price is the ICO price so there is quite some resistance from people who got in and now want out as they are break even.
It also touched the upper resistance line and I for sure will open another long if it goes down a bit more or when it pumps and retraces toward the 0.004$ price since by that time, many of the ICO break even sellers should be out.
I also managed to get out of $SPX at the right time. I initially got in around 1.618$ and added to my position at 1.430$ only to get out 7 days later at 1.876$ for a +261$ profit.
It kind of printed a lower high and I'm looking to buy it back if it goes down just a bit more. At the same time, if the uptrend line breaks the new longs will likely get liquidated so I might set a stop loss on it in basically increase leverage above x5.
I also took a tinu 10x leverage gamble on $POPCAT which ended up getting liquidated for only a -52$ loss so damage was very much limited there.
Watchlist
I did put in a 5x long to buy 750 SPX that will get picked up if the price goes to 1.60$
I still have my positions open on
$TON which has been lagging the market a bit
$HYPE which I might take profit on when it reaches a new all-time high.
$IMX in anticipation for Gaming to get a small pump again as it has been trading sideways around the bottom.
I'm also thinking of cost-average buying Bitcoin with part of the profit that I'm making. I still sit mostly in USDC with an eye to potentially scoop up some juicy longs in case there is a market crash and a big liqudation event accross the board.
Results So Far
So far I haven't really put any effort or even funds in and it's going great which might be beginners luck. I increased my Hyperliquid portfolio from 4384$ to now 5250$ adding a whopping 866$ last week. I'm quite sure though that the volatility on the upside also counter when things go bad and I'm prepared for that.
| Week | Total deposit | Total Balance | Week | Total |
|---|---|---|---|---|
| #1 | 500$ | 500$ | 0$ | 0$ |
| #2 | 1000$ | 959$ | -41$ | -41$ |
| #3 | 4000$ | 4384$ | +415$ | +384$ |
| #4 | 4000$ | 5250$ | +866$ | +1250$ |
Conclusion
I'm still having fun with Hyperliquid and I will see where this Leverage Trading Journey will take me. Usually things go great before they don't anymore so I'm not getting overly optimictic.
holy $hit! some serious numbers @costanza , hope you have a profit taking strategy planned in
The main currency on Hyperliquid is USDC and the goal is to ramp that up, so there is pretty much my profit taking strategy. At the same time it sucks to sit in USDC though. The main danger with leverager is that if you have too big of a part invested your entire balance can get wiped out if the alts all dump 20% or more. So as easy it is to win, as easy it is to lose with leverage.
I haven't tried the platform yet. So far it's been one of those things I have sort of missed so far.
It's actually really easy to get into as you can transfer USDC from Arbitrum. The platform itself also just feels like a centralized exchange, so no complicated things.
That's cool. I will have to check more into it.
I’m not a huge fan of leverage but it’s cool to see projects like this popping up with such great success.
Good luck and stay safe out there!
I also never was a fan of leverage but it kind of works, at least until now as I understand that it only really takes 1 correction to get wiped out if you don't have good bankroll management.