This is my spot trading diary where I started with $20 last August and have navigated the crypto trading space to have an opening balance of $248.34 to trade with in May. I had alot more but April killed me so I was a maimed beast coming into May.
I was down €80 from April and licking my wounds lucky to get out of it in one piece. May was upon us and I was underwater with MEME coin after the big drop in April. I had purchased MEME at 0.0393 and it had settled in the region of 0.036 and 0.037 at the start of May. I had around $200 free to play around with but most of my funds were taken up by taking a punt on MEME. You can see my top entry was buying the MEME but I did not sell it until the 20th May when MEME finally made its way back to the figure I purchased it at. Fearing the worst I immediately sold it for a tiny profit just to get my funds back to base. The USDT safety zone.
Selling MEME at a profit was more of a psychological win for me as I needed it with the challenging April. So I divided up my total funds again and set out to increase my pot. I was on a PEPE , MEME and memecoin trading journey up to now but I started to go back to my original strategy of volitile coins quite close to the negative funding rate to some success. You have to be quick here those and I got burned with a few when Bitcoin dropped namely STMX on the 22.05.2024. Now I love a good crypto rumour and I have been keen trending one coin that has given me gains over the past few months. $JASMY was rumoured to be partnering wit Apple which was probably made up but at 0.029 , it was still cheap in relative to the actual rumour. $JASMY is a coin from Japan who want to rival Bitcoin in that part of the world. Binance actually have a warning on it because it is not fully over board yet, Many people say do not go near it but in my mind every coin is a shitcoin. Even Hive so it is open season for me when I am trading. None of these are shitcoins. Just opportunity so I got in and JASMY did just as I expected it to do . Buy the rumour as they say and what a rumour. I made $193 off this trade alone which seen May be my most successful month. Now $JASMY is by no way finished and I am going to delve into Futures to ride it down the way when the rumour is probably fake news. Who knows? They may have just gone and did it but I am not so sure. After this JASMY cycle I am not sure how June lies for me as I feel I have exhausted both PEPE and MEME and I find myself underwater with them more often than not. The great thing about spot is that if the price goes down then you just have to sit back and wait. Patience is the name of the game in this trade and in this sort of cycle the tokens always bounce back. I feel I will be delving into the $SOL ecosystem next as there are tokens there such as $BRETT and $MOTHER and well as $BODEN that are going through the roof so maybe I will explore this but it is a risky strategy and they whole reason for getting out of futures in the first place was to decrease my risk.
Overall though in May I held out and made sure I had small gains rather than larger gains. I had very few losing tradesand the only reason I had 3 in a row losing was getting into $JASMY before it rocketed and I more than made up for the loss here with that trade.
My total profit at end of May is $276.74. My funds are now on the $1400 mark which is decent. Things will start getting serious in the next couple of months when I hit a green candle or a red one. The mind is different losing 200 quid compared to 20 quid even though it is just a zero added onto the end of it with the same trades. Ah sure tis a great complaint to have in a bull market. So $JASMY is my gem this month. I am gonna keep riding that train for a while and see what happens.
