Recently, the cryptocurrency RV has been rising, and many coin friends have made good profits. But how can a small victory become a long-term victory? This is inseparable from the compulsory course for professional traders: daily review. Today, let's talk about how to do the review.
1. Review of transaction data
- Holographic transaction log
• Record the timestamp (accurate to seconds), target (BTC/ETH), direction (buy bullish/bearish/sell), position ratio, and slippage data of each transaction
• Mark abnormal operations: failure to stop loss as planned, emotional increase in positions, and execution deviation caused by liquidity traps
• Tools: Notion/Excel template, including Greek value change curve and slippage statistics table
- Dynamic monitoring of Greek values
• Delta: If the overall position is negative, it is necessary to evaluate whether it deviates from the current market trend (e.g. BTC breaks through the EMA20 moving average but Delta is still bearish)
• Theta: Crypto options lose time 30% faster than traditional markets, calculating the daily time value loss of positions
• Vega: monitors the Deribit IV index. When the IV percentile is > 90%, the obligated position needs to be forcibly reduced.
2. Three-dimensional analysis of market environment
- Volatility Structure Scan
• Compare 30-day IV and 30-day HV: When the IV-HV difference > the historical 75% percentile, the volatility regression warning is triggered
• Surface abnormal signal: Deep out-of-the-money call IV suddenly becomes 15%+ higher than the same level put, reflecting FOMO sentiment
- On-chain data penetration
• Core indicators: Net inflow to the exchange (whale withdrawal warning), perpetual contract funding rate (extreme value > 0.1%/hour indicates leverage overheating)
• Tools: Nansen smart money address monitoring + Glassnode holding distribution chart
- Multi-period trend verification
• 4-hour/daily EMA20/50 crossover signal, combined with TVL (total locked volume) breakthrough to verify effectiveness
3. Strategy Stress Testing
- Extreme market deduction
• Skyrocketing scenario: Does the Delta position exceed the account's tolerance? Does Gamma need to be hedged (such as buying reverse options)?
• Crash scenario: Is the margin coverage ratio of the mandatory warehouse > 150%?
- Volatility Pulse Response
• IV surges 50% in a single day: Vega exposure is calculated immediately, and mandatory positions are forced to reduce to Delta neutral
• Volatility arbitrage opportunity: When the Skew Index (Put/Call IV Ratio) > 1.2, a call option discount buy signal is triggered
IV. Risk Management Review
- Account security scan
• When the maximum daily retracement is greater than 5%, the position limit for the next trading day will be automatically reduced by 50%
• Low liquidity contracts (such as forward options) account for less than 10% of the positions
- Behavioral Error List
• Mandatory rule: 1-hour cooling-off period after 2 consecutive losses
5. Review Toolkit
- Data dashboard
• Volatility monitoring: TradingView Skew plugin + CompareMarkets IV quantile chart + Greeks.live data lab
• On-chain alerts: DeFiLlama protocol abnormal withdrawal monitoring + Arkham large account address change push
- Intelligent review system
• Greek Value Calculator: Google Sheets automatically syncs Deribit data
• AI early warning model: training on-chain feature data 15 minutes before historical volatility mutation
The purpose of reviewing is to summarize experience, make the best use of strengths and avoid weaknesses, and to timely discover strategy loopholes and seize arbitrage opportunities. Doing a good job of reviewing and letting your mind form a rational trading path is a long-term effort. So, let's exchange review experiences together. Welcome to leave a message and share your review tips.
