I made a profit from some Pascalcoin yesterday 1041$ pure profit , today i lost about 250$
I recommend you take a look at my blog yesterday ( here )
I shouldn't do this
I am swing trader and investor , i don't have good experience in day trading , any way after i cash out yesterday at 17k , everything looks bearish , i knew that Pascal price will go down because of 2 reasons :
1 - The pump mainly because Pascal added to Poloniex
2 - Most people who bought Pascalcoin don't know enough info about it
Pascalcoin need an account , simple wallet can't receive Pascal , so you should either mine for it or buy an account to attach to you wallet so you can receive and send Pascal , i thought when people find out that , rice will go down as fast as it started .
I woke up in the morn , checked out Pascal price was 30k WTF . every thing was bullish , seems it will take a big jump , height volume , green candles everywhere , above 50% average and momentum is up .
Emotion drive
I got angry because i realized that i missed , my profit would be doubled if i waited tell morning , i was thinking about buying some coin but am going to work after 2 hour , i shouldn't involve my self in any active trade , day trad ! , that was crazy , sifinitly i will not have any chance to watch the price for 8 hours
like a stubborn boy i bought Pascal anyway at 31k in hope that it maybe go to opining price witch was 0.1 BTC , that will make around 30X profit .
Just after i got some coin price started to fall . I not the kind of person that act fast so i waited , price keep falling , still falling ,,, falling , i panicked when it reach 25k , i put sell order nothing now at 24k ,readjust the order to sell at current price , sold at 23k , can you feel stomach ache .
My mistakes
1 - that i tried to day trade with all my profit from yesterday , witch is the most stupid thing that i did this year
i was excited , it was easy profit yesterday so i did't care that much
2 - I was loaded with emotion in both decision , to buy depend on hope and to sell based on fear .
it toke me some time to accept my lose and adjust to , today most time am mad and i want to go back to trade to cover my losses but i will never do it emotionally , now just relaxing and sharing this story with you .
i shared with you my hay story yesterday so it is fair to share with you this one
don't make my mistake , don't trade based on emotion , just don't do it :)
steemit on
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and now is 40k. I think we all were once in that situation :)
and now 56k in Polo , ano no i won't buy :)
Like you said , happen a lot in crypto
Thank you for the input
It's what makes it exciting sometimes.
Ya , crypto world , like a crazy girlfriend
Crazier. Trading is high-risk..but u did gain 75%.
Yes in deed but i lost the 25% in a very stupid way
Glad to see you today @immarojas
We've all done the same lolsss then we learn though it doesn't stop most of us repeating it :)
Yes , no gain without some pain
must be some pain , just in my case gain came before the pain :)
anyway i think it is a good lesson it will be catastrophic if i did that with bigger volume and with my hardwork money , it is healthy warning .
True but if you didn't use ur gain, you probably would have thought about it harder before taking the risk.
@araki you were fine with your initial trade. I day traded full time for 5 years so I know exactly what that feels like. However, if you took a sizable profit at a time your analysis said to take it, then that's all that matters.
Watching something continue to skyrocket higher and then buying into it is a recipe for getting in at the top. I don't recommend ever chasing something.
Remember, one will rarely buy at the bottom and sell at the top. It's everything in the middle you want. And yes, I prefer swing trading these days as well.
First thank you @scaredycatguide , really appricaite your good opinion as expert , glad that you comment
I think i toke a good lesson today
i knew i shouldn't chase high , i knew i shouldn't even day trade but i got emotionally involve
mad and some how angry , so i toke bad decisions , won't happen again :)
Thnx , following you now
Learning your lessons from these days is about the only thing you can do. I made these mistakes myself too. Sounds like you had a educational day ;)
Actually yes @ourlifestory
the problem that i knew . it is dangerous to trade that way and just before going to work that was over,,,
Thank you for showing up :)
by the way am following you already
Sure you may have lost a bit. But as you said it was all profit, so not from money you've invested. So not a bad way to learn some things about trading.
Agree , good way to learn a trading lesson , no harm done , great lessone .
Thank you for your input @smysullivan
by the way nice profile pic :)
Thank you it was a pic found on Google free to reuse. Been thinking of updating the pic but have not got around to it.
it is nice pic , i like it
Thnx for showing up @smysullivan
by the way i am already following you