I held a bearish view about Bitcoin. I sold 1 contract of 5 bitcoin in the Futures market. The value of each contact is US$$180,000. 

Bitcoin is volatile and can move 5% or more in a day. a 5% move will result in a gain or loss of $9,000.

My short position on the first two days gave me a large loss. I recovered most of the loss on day 3.

June 2, Loss of $9,500 (up 5%)
June 3, Loss of $3,500 (up 2%)
June 4, Gain of $11,500 (down 6.5%)
Net for 3 days, Loss of $1,500

I opened a short position of 1 contract on each day. I have closed all my positions.

It was a good trading experience, and quite exciting.

I traded on the Bitcoin contract (BTC), with a lot size of 5 bitcoin. 

Smaller traders can trade on the micro Bitcoin contract (MBT) with a lot size of 0.1 contract. This is 1/50 th of the regular contract.

Tan Kin Lian