Crypto Day Trading - Week 3
Welcome back everyone!
This the third week of a weekly series where I'm day trading cryptocurrencies. I am sharing my progress with you all for anyone who is interested, and also for those who don't have the time or energy to day trade and want to live vicariously through me.
Check out my blog for the previous two weeks. All the rules of my day trading experiment can be found in the Week 1 post.
DISCLAIMER: This is not financial advice, and I am not a professional trader. I am learning along the way and am sharing my experience for those of you who are interested and/or curious. I don't recommend anyone try this just because I'm doing it. I do it so you don't have to. Having said that, if you have any questions, don't hesitate to ask and I will try my best to answer!
WEEK 3
Bitcoin continued its unpredictable movement last week, and I didn't want to take any chances, so I actually temporarily converted everything to BTC and jumped in and out on the lows and highs. I'm basically working on accumulating bitcoin as it continues to channel and tries to figure out when it is going to start trending up for the long term again.
Ethereum (ETH), which is what I originally intended to use as a trading pair, dropped quite a bit in comparison to BTC. Luckily, I had already jumped out before it took a major hit. I'm not sure what I'm going to do regarding ETH, but for now I'm staying out of majors and alt coins to ride the BTC channel until we have a clear direction of where it is going. Once things get less choppy, I will likely buy back the same amount of ETH that I left off with previously and continue tracking my trades as usual.
For now though, nothing to report spreadsheet-wise. The numbers are frozen from week 2, and are as follows:
Starting ETH Value: 0.40149797
Current ETH Value: 0.43180108
ETH Return %: 7.55%
Starting BTC Value: 0.03767099
Current BTC Value: 0.03965407
BTC Return %: 5.26%
BTC + ETH Return %: 12.81%
The link to the Week 2 spreadsheet is here.
Once I buy ETH back again, this will be updated and you'll be able to see how much my BTC changed in comparison. Hope to get back to regular operation this week, but so far I'm still only in BTC.
Thanks again for reading! If you like this series and want to see more, I'd be grateful for an upvote, follow, resteem, or any combination of the three.
As usual, have a profitable week!