Trading STEEM and Price Analysis: It's What I Do
I don't just talk about trading. I do it.
This isn't a post that I made to brag about my trades. I just want my followers to know that I actually do trade the STEEM-BTC market. The price analysis that I share on Steemit is similar analysis that I use for trading.
A couple of months ago, I sent some STEEM over to Poloniex to get back into trading on a regular basis. I wanted to test the crypto markets, which I didn't really trade at the time. I made occasional moves with STEEM-BTC, but I wanted to test my analytical skills and get back to a place where I was several years ago when I traded the New York Stock Exchange (NYSE) with my personal portfolio. My goal was to familiarize myself with crypto markets, get in some good practice, and return to trading in the stock market as well.
So, when you read my Price Analysis posts, you can be assured that my analysis is based on my observations of the market and actual market trading. As you can see, I have had a rather high success rate on my trades so far.
These are the profit percentages from those trades, starting from the bottom.
| Trade | Profit % |
|---|---|
| 1st | 17.7 |
| 2nd | 22.2, 205 |
| 3rd | 14 |
| 4th | 18.2 |
| 5th | 18.2 |
| 6th | 13.3 |
As you can see, I haven't taken any losses on the trades. If you pick your targets and stick with them, you can have some similar success like this.
In my last trade, I actually got caught on a dip. However, I didn't panic sell because I had confidence that the price would return and I could actually afford to lose what I invested - and that's an important factor for trading/investing in anything. If you're patient, can afford to put some money on the shelf for trading, and have a good understanding of the market, entering and exiting trades can be a lucrative endeavor.
Today, I sold that position for a 13.3% profit in the STEEM-BTC price. It took longer than I would have preferred, but I was able to exit with more Bitcoin in my hands than when I entered. With the exchange markets being priced primarily in Bitcoin, that's a good trade, in my opinion.
If you're concerned about an influx of analysis posts or advice, then be sure you're following people you trust to give you good insights and information.
I try to do my best to show you how the market is behaving. I try to stay away from predicting where the markets will go and offer options of what is possible or probable instead, based on how I'm interpreting the data. I invite critiques and comments from anyone, so feel free to share your own insights and disagree with my observations.
I'm not perfect and I don't want anyone assuming that I am...despite my awesome track record!
If you're a trader or like to observe/analyze the markets, let me know!
Content Status: TRADER-SLAYED!
@ats-david the mark of the trading beast :D
but you are so damn right about staying away from predictions
isn't it speculating as well? if so - it should be called gambling not trading
This will help with some different perspectives on trading.
Nice, that is exactly right. Only trade what you can afford to lose. I converted some steem (from my mitchelljaworski account) into BTC over a week ago when it was trading around 1625. I'm holding it for a blow off run to 2k or stopping out if it dips below 1550. I'll put money at risk on a 5 to 1 ratio all day :-)
I always sell once a price is between 10 - 20% profit unless its blatantly pumping. It works well and takes a lot of the agonising out of it all. I don't have the analysis chops of your good self though!
It looks like all steemians will become traders. Another good reason to join steemit.
haha,. brilliant. can i quote you?
Sure. You're welcome.
hi @oldtimer,
What kind of nut are you protecting? Food storage?
Steem power maybe? Just kidding.
Google for acorn - pictures or google ice age- pictures. You'll find it.
In any market, but even more in the crypto space you can have that buy limit set pretty far on those dips and pick up the coin for the low! Nice set of gains!
As always, get steem by posting, sell high, buy back low. I think that is the best you can do :)
Io non ne capisco nulla....ma va bene così....I love steemit!
Good points i also pretty much did the same with STEEM-BTC. Do you think it can have analogous spike to XRP-BTC?
The most recent one?
yes . STR , XRP and STEEM seems to walk hand in hand . Or just coincidence ?
Very good points. Panic selling and emotional trading are rarely profitable - I know from personal experience.
@thecryptofiend
Who Dies?
A: Panic Sellers, B: FOMO, C: NOOBS, D: The Nice Guy, E: Margin Trader
Thank's for the post!
I am also trading the crypto markets, and currently considering whether to trade STEEM. So it's good to see someone making good trades.
Steem will keep growing as new users start to see it's volume on coincap. I love it- that's how I found out about it... <3 <3 check out a post or two!