Mar. 4/18
Day 2:
Start: BTC: 0.0447’57
Gains: BTC: 0.0001’74
End: BTC: 0.0449’31
Pair: BTC-TRX
EX: Binance
Time: 5min. ch.
Setup: I turned on my computer and logged into Binance and the first ticker I saw was TRON again. The candle had just crossed the VWAP and I jumped at the opportunity to get in on a trade (I have been trading here and there since early Jan. 2018 - and since the market has been bearish and depleted of $3.Billion - so I have been reluctant to jump in on a trade; also due to my character).
Now, I’m glad to jump in on an opportunity, but I should stop jumping in as soon as I just turn on my computer (this has lead to losses in the past). I need to further asses the situation before jumping in without more information, such as: knowing the general normal behaviour of the day's range.
Again, plenty of volume and little movement. Huge support walls, one after another or 10, 20 30 BTC, lined up to buy, but no one budging. If anything it was the little sellers that were lowering the price.
I managed to get in on a good price level with little risk (potential reward but actually very little in the end). Its painful being in these long trades with very little movement.
Exit: Made two/three small trades. Saw that it wasn’t gonna move (especially over the psychological round number just above - it had trouble hitting 0.00000429 so I knew it wouldn’t move above 0.00000430), so I moved on.
Strengths: securing my gains
Weakness: not holding on for long enough
Refer: to chart and portfolio for added trade info.