Top 13 FIN order books by volume, 2023-06-09

Top 13 FIN order books by volume, 2023-06-09

 

1. KUJI/axlUSDC,$48.71K
2. axlUSDC/USK,$30.75K
3. KUJI/USK,$25.65K
4. ATOM/axlUSDC,$16.41K
5. ATOM/USK,$15.73K
6. KUJI/ATOM,$4.38K
7. STRD/USK,$3.52K
8. STARS/USK,$3.38K
9. LUNA/USK,$1.73K
10. ampWHALE/WHALE,$1.53K
11. wETH/axlUSDC,$1.39K
12. WHALE/USK,$1.05K
13. MNTA/USK,$1.02K

Report generated by ./top_order_books

Missed Opportunity

Do you know that some traders use volume as an indicator to buy or sell?

There was an opportunity that I missed:

SHORTING $KUJI.

Hear me out.

The report, above, shows KUJI/axlUSDC is high-volume. Look at the KUJI/axlUSDC chart on @TeamKujira FIN.

What I could have done was borrow $KUJI at $1+-per, borrow all the $KUJI I could, sell that $KUJI, then, now, buy back the $KUJI and close the borrow, effectively shorting $KUJI at 17% ROI, annualized to an er-mi-josh APR of nearly 1,000%!

😱🤯

Here's the problem with that pat, little summation (PT): it's great in hindsight (a priori, my fav analysis), but it doesn't tell you what to do now nor in the future?

Will $KUJI go up or down?

Who knows? I don't, and nor does any other blowhard with their predictive analytics.

Analyses, a priori (back-testing, which I love) or a posteriori (forward-looking, which I hate), is useless and WORSE than useless if you use it to beat yourself up.

"Oh, I shudda..." or "If only I had ..."

The past is the past. You're not going to change it with hand-wringing.

HERE's what I find analyses to be good for:

• opening my eyes to opportunities.

I say not shorting $KUJI was a missed opportunity, but that's the past.

Going forward, when I see high volume on the sell-side, no matter the token or sacred cow, I can say: "Hm. Short?"

Then act.

If you're wondering how you can short an asset, when shorting assets aren't provided on FIN, ...

... yet...

I've written two articles on my blog that talk to opening (leveraged) shorts and then when and how to close a short and the realized gains (... 'short gains'?) therefrom.

• Leveraged shorts on @TeamKujira Ghost and FIN
• Closing a short, leveraged
• Closing a short, not leveraged
• Other HOWTOs, articles, pensées, and #cryptocurrency resources are on my Crypto-page.

Postlude, or: the 'Happy Ending.'

The 'missed $KUJI short opportunity'?

This story isn't over, because why?

Because I did borrow 100 $KUJI at 87¢-per 

(quote thanks to @coingecko)

It's now 83¢-per.

So, I buy 100 $KUJI at limit price and close the borrow.

• ROI: 3.7%, annualized to 149% APR

SWEET! 🎉