How did I do? First month of Finance Friday Weekly Series #4
Hello everyone! It's time for Finance Friday again! So far, this is the only topic I could post regularly. I would create more posts when I finally manage to learn time management(Honestly, this is what I suck at most). But for now, enjoy this series and follow me on my journey on my Binance account. I've started when Bitcoin was $6,800 and so far, my weeks have been winning, big or small. I had only taken a few trades this week, too few to be honest and forgot to lock some profits before the weekend dump.
Missed opportunities?
The more my balance increases, I noticed that I get more cautious in what trades I would take. I have been looking for some coins that I haven't swing traded, and missed some good opportunities to buy before they mooned. There were coins this week like Aeternity, which I sold a week ago, which doubled its value this week. Another would be EthLend which atleast rose about 30% over the week's course. TRX is an example to, like almost all the coins I touched and sold last week mooned. Honestly, some coins, if I had just held them for a few hours more, I had tons of gains. But unfortunately, the coins I held on this week had almost no action at all or dumped.
I believe in the coin
Observing the past weeks since I've started actively trading, I have seen bias toward some coins, no matter what the price action or charts show. As you can see, I bought WAN too high, and held it even I had the opportunity to sell it at a little profit. The same happened with ICX and AION, which actually brought my portfolio down. I tried to buy at a lower price, to average my entry on ICX but it dropped another 5% again just this Friday. I plan to hold it for a while again and I see no more reason for it to drop(lol another bias again). My overall portfolio balance went up to 0.0208 BTC this week. And well, unrealized gains had never been realized. :(
Dusting up some coins
Some trades are not shown in my trade history, well technically, dusting is still a done trade. I have dusted my LEND and some other coins which I had transferred. Good thing Binance now offers this feature. You could actually use this one for some coins who tanked and can't get rid of, timing it when BNB hits a low, and then getting profits if BNB goes on another good rally.
Slow and Steady
Being more cautious now, I will take profits for 3-5% gains and probably stay in BTC for a while next week, once these alts recover or my stops get triggered. I think BTC will be going for another run, since it seems as the weeks pass by the bullish sentiment is getting back, and probably alt season is coming to an end. If alts are tanking, it would be quite difficult to put some entries and exits than on a clear alt bull run. There might still be some good opportunities, since I've noticed that alts now don't tank that much compared to last year. I haven't seen a daily 50% drop now. I am still happy that this week still ended profitable. I don't set a weekly % target now, to avoid frustrating myself.
Thanks for stopping by again! And I hope you're getting good trades this week. See you next week!
Here's my weekly progress in this series:
Initial investment = 0.01 BTC/$68 (estimate)
Previous week value = 0.01922993 BTC / $174.22
Current week value = 0.01959615 BTC / $190.26
Weekly Gains = 1.90% / 9.21%
Total Gains = 95.96% / 179.79%
Interested in trading and haven't traded yet? Try Binance. They trade STEEM too! (Please always check the url and don't get phished!)
Feeling ballsy and wanna do leverage? BitMEX allows up to 100x! Don't get burned though, or else the bot will quote your order.
Disclaimer: All information found here, including any ideas, opinions, views, or cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. I am not your financial advisor. Please don't sue me if you follow my picks and lose money.
Missed the previous weeks? Here's the list
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