Coin: GBG
Exchange: Bittrex
Bought at: 0.00002805
Sold at: 0.00003382
Profit: 20.6%
Duration: 14 hours
INTRODUCTION
Today I completed two 20+% trades. I’m putting my trade on GBG as trade of the day because I want to show this was originally taken as a bad trade.
STUCK IN A FAILED TRADE
When the scanner went off on GBG yesterday, I noticed a sharp decline after a sharp rise to 34.5. After quick analysis of this coin, I wanted to take a buy at around 25% of the rise in anticipation of a pullback. However, the pullback failed to deliver and I was stuck with this coin at a close to 10% loss.
DONT SELL FOR LOSS, HOLD COIN AND ANTICIPATE PRICE HIKE
Instead of selling off a failed trade coin, I wanted to hold onto it and anticipate a next rise. The next big rise seemed like it will take a couple of days based on chart history, but it’s worth waiting for instead of taking a loss. I was in for a big surprise that today there was another price hike of this coin and my coins sold for a 21% profit!
ENDING
Nothing here is meant as financial advice. This is just a strategy that I'm using as a cryptocurrency day trader. Please seek a duly licensed professional for any financial advice. Never forget, cryptocurrency trading is extremely risky and never invest more than you can afford to lose!
I'd like to give a special thanks to Luc for his selfless contribution in teaching cryptocurrency trading. Please visit his blog at: https://steemit.com/@quickfingersluc
Thanks for visiting my blog and happy trading everyone.