Day 3: Trade Pairs: BTC-TRX

Mar. 6/18

Day 3:
Pair: BTC-TRX
EX: Binance
Time: 5min. ch.

Start Amount: BTC: 0.0453’22
Gains/Losses: BTC: - 0.0008’06
New Total: BTC: 0.0445’16
- 1.79%

Setup: Plenty of mistakes here.
1st: got in too late at a high 0.0000,0422 + 0.0000,0425. Put a stop-loss way low at unreachable zone with strong support.

Exit:
2nd: When price had reached my stop, I realized I had not entered enough zeros in my satoshi’s. Reset my stop and accidentally sold it at a lower price than intended, when I meant to hold onto it, because there was strong support and big buy walls above my “meant-to-be” stop. This still happens all too frequently for this newbie.

Strengths: Unreachable stop well below support and huge buy walls.
Held in for a long period.
Weakness: Not understanding the stop-loss functions and price setting correctly.

Note:
I try to follow the good advice of, “buy low”. However, last night I watched a video: “20 habits of successful traders” and they suggested buying hight is ok. Maybe there is something I’m failing to see here. This is one reason I entered when I did.
It’s unfortunate I messed up on my stop. I was not ready to leave this trade. There was plenty of strong support and although small, the candles just moved above the VWAP again since a long while. Plus, on the 30 min. chart candles also above VWAP.
Ps: I forgot to mention, I should’ve doubled check on the 1 min. chart to notice the red candles where forming, which would’ve signalled me to hold off on my initial entry
Pss: I immediately re-entered once my position was accidentally closed. Entered at 0.0000,0415. Will update on the following post.