Watch this video to find out how Richard made +7% gain in less than 24 hours by Short Selling Polygon (MATIC). Meanwhile, crypto markets are down -5 to -10% (see why below).
He also explains why and how he hedged his portfolio ahead of some risky events this week.
Was it luck?
No.
It was a prudent way to manage risk. That’s what Richard teaches in his education videos and trading course.
In his video yesterday, he demonstrated how to use altFINS platform to find coins that were approaching their resistance zone and were likely to be under selling pressure regardless of what happened with the market overall. Those coins are ripe for selling or Short Selling.
HODLers and subscribers can also watch a whole lesson (lesson number 10) that covers Short Selling techniques in our Trading Education Course.
And why is crypto down today? August CPI (inflation) was released today and it came in at 8.3%, down from July’s 8.5% but higher than 8.1% expected. Moreover, core inflation (excluding energy and food prices) was much higher than expected. August Core Inflation was up 0.6% from July while expectations were for only a 0.3% increase.
This data suggests that inflation is still not under control and Fed may need to continue to raise interest rates, which is negative for risk assets (tech stocks and crypto, etc.).
