This blog is an update to Monday's Cryptomarket Panic trades. The previous blog can by found here:
https://steemit.com/trading/@oneluckyflip/cryptomarket-is-falling-some-trades-i-m-taking-to-make-money-during-a-panic-market
Today's blog will show results of all completed trades as actual vs. expected. All chart markups were intact for comparison. In addition, Pending Trades list and Trades Not Taken list are presented.
Red X mark = expected selling point(s)
Green arrow in circle = actual buy points during panic
Red arrow in circle = actual sell points during panic
TRADES COMPLETED
BTC/USD (GDAX)
Thoughts: Sold on the first bounce once there was steady resistance. Moved from 4625 to 4525. Next buy order was set at 4000 but never reached that far.
Expected return: 6%-10% on nibbles
Actual return: 5.2%
NEO/BTC
Thoughts: Moved sell down to steady resistance
Expected return: 30%
Actual return: 24%
QTUM/BTC
Thoughts: Sold 100% position on first bounce.
Expected returns: 8-25%
Actual return: 8.8%
XST/BTC
Thoughts: Trade went according to plan.
Expected return: 20-25%
Actual return: 18.5% total
ADT/ETH
Thoughts: Had sell order higher as bounce was quick and strong but sold over half position on first bounce.
Expected return: 15%
Actual return: 13.3% total
EBST/BTC
Thoughts: Caught this flash sell upon cryptoscanner notification and all position sold on this flash.
Expected return: 10%
Actual return: 30%
PENDING SELL ORDERS
POT/BTC
DCT/BTC - Half position sold, other half pending about 10% higher.
EMC2/BTC - Awaiting pump.
TRADES NOT TAKEN
ETH/BTC - Did not reach target buy of 0.656 btc.
BAT/BTC - Did not reach target buy of 3717 satoshis.
WHY DID MOST OF MY TRADES NOT REACH EXPECTED TARGET?
4/6 completed trades DID NOT REACH expected returns. The reason is that the whole crypto market reached a resistance point off of these bounces so I sold most which netted me at least 5% returns. I was hoping for another panic of which I can buy back my position, but the panic wasn't too strong for that. However there was still a small dip and another bounce that followed across most of the market.
DISCLAIMER
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!
Thanks for visiting my blog and happy trading everyone. Let me know what you think in the comments section below.