This is my second day trading with Coinigy and I made 4 trades based on my interpretation of the charts. Two trades were unsuccessful and two trades were successful, leaving me with a loss of about $1.25 today.
Four Crypto Trades with Coinigy
I am no expert, this is my trading journal where I show what I have learned day trading crypto. I play very small as I am learning and I hope this post can be useful for you. If you would like to try Coinigy please use my referral link https://www.coinigy.com/?r=842aeb1c because I will get $15 if you purchase later on.
My first trade today: BTC/CVC
As I thought CVC was going to go up, I first placed a buy at 25%, and then nothing happened. The green candle was getting bigger and I thought that my buy order was now too below the last buy price, so I made a new buy order. It was processed successfully and when I cancelled the first order, a part of it had been already processed without my knowledge. That's why there are 2 buys when I intended to make only one.
Then, shortly after, it started to go down and I decided to take the loss immediately, not in panic, but because if I am not proven correct, then it's better to exit before losing too much or hope for a reversal. As you can see it did go up a bit later, and then down, basically going nowhere.
These are the buy and sell orders.
I wonder if the delay in executing the first order was due to a low Internet connection or Coinigy having to much of a delay between the execution of the sell on the exchange and reporting it.
My second trade today: BTC/LSK
Looking at the chart LSK had a good chance to go up and it did. From where you see the blue arrow, I thought it was going to go up, so I waited to place the first order at 25%. Then, it did the same thing, it continued to go up and nothing happened, so I placed a second order because I didn't want to miss the boat. It was executed, and when I tried to cancel the first order, it said it couldn't be cancelled and it did buy a ridiculously small amount of LSK.
The third buy was 10% and it was executed normally.
I was expecting it to go higher, but I had to go outside and decided to put a stop loss, so I would still be in profit in case it went down.
The first order with the small amount is the unwanted one.
Then, while I was outside, the stop sell order triggered.
Hopefully, it did very well as LSK started to dive. I got my small profit.
It was not at bottom yet that I had to go pick-up my daughter at school, and then drive her to a special class. Unfortunately, during that time, I missed 2 nice ups!
So one more time a fragmented buy order in this one, which is a bit annoying.
My third trade today: BTC/STR
I was too late for this one, but as I thought it was going to go much higher, I bought. The first order at 25% was executed smoothly and as it was still climbing, in the excitement I put a second order at 10%.
Just after I placed the second order, it started to go in the red...
This time, I decided to break the rule and wait a bit more hoping it will go up again.
An hour later, it was definitely not going up again, so I sold.
This trade showed me exactly why it's better to take the loss immediately as I did for the first trade today.
My fourth trade today: BTC/ETH
I took my time with ETH! From the blue arrow you can see, I though it was going to go up after looking at some previous patterns. It went up, then down, then up and it's when I bought. The buy order was executed normally and as I was running this trade at the same time as the LSK one, and going outside, I placed a stop sell order, but a bit too high from what the price was at and I missed a bit more profit.
It seems that each time I go outside and place a stop loss order, then it is triggered very soon after!
Today, I am down 0.00017580 BTC, which is about $1.25, but I have learned quite a few valuable lessons that will help me do better tomorrow.
This post is my trading journal for my second day.
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