Trading can be a very fun thing to do and in some cases once you have build the correct skill set and mind set be a some profit to be made. I'm my experience I've made some good trades and some bad trades and I wanted to share with you how I made some bad trades with a poorly timed trades than in fact are still going on but for the wrong reasons.
FoldingCoin #FLDC
I was charting and closely looking at the trends. It has previousy shown great signs of growth and I thought it was going to get out of the wedge towards the uptrend.
As you can see here in the chart or check out the trading view post that I could in fact get out of the trade with minimal profit or even break even once I saw the down move, but my inability to sell at the right moment made me loss more than 44% of it.
RedCoin #RDD
I pretty much thought that it was about time to get aboard before the possible move upwards. I did made some chart analysis and it pretty much indicated similar trend as #FLDC which I just accepted and got in. 43% loss later I'm still holding. It is not really a terrible loss but it is the inability to sell them and maybe get advantage of the lower levels that really thought me to safe some resources when I possibly can so I can also take a minimal loss not a very big almost half of it.
Why am I still holding?
The quick answer is that I cannot sell because of the minimum #BTC worth of the sell as Bittrex requires it. The second and probably less shame answer will be that I'm leaving the coins to either recover some day or remind me how not to get in a trade and that I should exit with some profit or taking a loss and there might be better trades coming.
DogeCoin #DOGE
So I started another experiment, almost 5months before those 2 trades that got into limbo. I wante dto start a community trading experiment where people would come and suggest me which altcoins to trade and if they were good trades I would create a trade plan and attach to it and then everyone participating will get part of the posts rewards as well as possibly some trading funds.
What ended up happening, was poor engagement from my audience and then my loss of interest of posting and creating the posts so people would come and comment (no upvotes were requested to participate, but will greatly be appreciated).
I first got the idea when I was posting a #XLM chart. Two days after the first post was published I prepared what I thought to be a more elaborated version of the trading experiment. I got some participants and I got all set to open a position in the first community chosen coin as you can see in the dpoll post.
The experiment
I wished there were more people engaged with this experiment and possibly more and more funds will be added towards trading and someday I could do some funds rain to those who have supported and followed the project. After all this is also a way to keep me moving and thinking more like a trader constantly looking for options. improving myself and my mindset to set some good winning trades some day. If you are willing to enjoy the journey while I also share some insights and read your valuable additions we will both win as there is a chance everyone has some truth on what each one has to add and say regarding a trade.
#DOGE current status
Once the trade plan was created and currently at 38 satoshis (here trading view post it seems that it is close to get to the 42 satoshis level and hopefully will move to the 48 satoshis level which was previously stated in the trade plan. If this works out it would be a winning trade but it has taken me a couple months, books, youtube trading course and more charting to get in the first winning trade. What do you think? What can you share from your previous loosing trades? What will you do in my situation regarding #FLDC and #RDD? Do you think I should take some profit as soon as #DOGE recovers?
Do you like the experiment and if so would you like to keep creating them? If so which coin would you like to get charted and traded?
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