Interesting things that happened while I was waiting for my Steemit Account

I don’t know when (or if) I’ll ever get my steemit account activated, but I’ll keep track of some of the more exciting or dumb things that happen between now and then.

1/2/18 - I had a pretty good day with some 3%-5% gains and then I tried to put a low buy order in for ETH @ 863.00 and I accidentally put a Sell order instead and ruined most of my gains. Luckily the market was still around $900 so it wasn't tragic, I still came out about 1% ahead for the day, but at least I'm living up to my blog handle! I told you I wouldn't let you guys down!

1/4/18 - I tried to jump into TRX during the epic rise. I waited until there was a decent pull-back, but of course, it just kept pulling back. Ended up tying up almost ¼ of my funds in that trade which is now skewing my balance pretty heavy. This is bound to happen a lot as I feel like I’m going to have to keep ¼ - ½ of my trade balance in the market on any given day in order to meet my goal of at least 2% a day. I’m going to keep it in here though. I really do believe in this coin which is why I’m kicking myself so hard for pulling out my initial 110k coins when I started trading. My plan is to keep buying in, but only breaking even on my trades and leaving the profit in the coin. I think this will be one of my big long earners this year and help greatly towards my goal of $1M. Even with the -33% loss on my balance, I am still under 2%/day needed through the rest of the year.

1/5/18 - Today I ended up 10.75%! My best overall day so far and not even a week in! The way I got there was more than a little shady though. Let me tell you how it happened. I spent the day watching ETH basically stall out with a big fight happen at the $970 level. I put in a couple of stop limits above the resistance, figuring if it broke I could ride a little bull up. I put some super low triggers for a buy as well, trying to pick a ludicrous price that I was willing to jump in. Hey, if they’ll give it to me! I don’t think ETH will lose steam in the next week, but some people might panic. $100-$150 swings are not uncommon (sometimes 2 or 3 times a day!).

In the meantime I was scanning the rest of the markets, identifying bases at the 1hr mark and setting alerts. Once I was done, I switched over to 15m candles and begin scanning for interesting trades. I caught a few minnows while I tested out my new min-strategy of small positions at established bases. Nothing big, but 1%-2.5% gains on small positions netting ~$20 each. I’ll probably have to make these ‘small’ positions a little larger to see any real benefit.

After cashing out on about $75 worth of those kind of trades, I took a closer look at LEND. I noticed that it had been swinging pretty consistently by about 20%. It had gone up and down about 4 times iatpretty regular intervals. So, I took ¼ of my account and put it in at the bottom of the next cycle. About two hours later, it hit a small high and I put another ¼ of my account at what I figured was a halfway point to my final exit. But it dropped back to the bottom. However, I was prepared for this, as it matched the previous pattern of a small break followed by a large one.

On the premise that it would continue this pattern, I went all in at this final bottom. Then it dropped more. Again, I was prepared to wait it out, There was plenty of support at the bottom and it had been bouncing hard all day off of the bedrock. Over the next 5 hours, I did my shoulder stretches, played temple run, ran some errands and other wise tried to forget about the stressful act of watching these dumb charts.

It was not following the same pattern as before. The span between peaks was getting too wide. The volume was not there and I passed by several opportunities to get out even or at 2%-5%. So much for not being greedy! :/ But I had already missed quite a few big gains in the last few days by panicking and getting out at 2% only to have my instincts confirmed an hour later as the price rocketed 30%. I was determined to wait it out. However, because of the stretching of peak-span and the decreased volume, I did adjust my exit slightly from a 12% gain to a 10.5% gain. This was fortuitous.

Then it happened. The break I predicted came in hauling ass and suddenly within 30 minutes, the price had gained 20% and my order was filled before it ever registered on the chart. That exit shift I mentioned. Saved my ass. My exit ended up being the very tip of the wick! whoa! So, that’s how it happened.

You notice MA indicators on this chart. That’s because one of the other things I was doing while I was waiting was more research on analyzing and strategy. I heard somewhere along the way that it’s good to have at least 3 reasons to make a trade. Currently, I’m only working off of one (a crack in the base). I decided to study up on MA and came away with a better understanding of how they can help when put together at different frequencies. This particular chart is one that I think I understand. It is a MA(30) over a EMA(13). I see now that I entered this cycle ass backwards according to MA theory, oops!

What do you think? Did I accidentally read myself into a good trade or just get lucky?

Remember kids, don’t trade like an idiot!!