Coin: Goldcoin
Exchange: Bittrex
Bought at: 0.00004777 (1st), 0.00003949 (2nd)
Sold at: 0.00005280 (1st), 0.00004544 (2nd)
Profit: 10.5% (1st), 15.1% (2nd)
Duration: 109 minutes (1st), 80 minutes (2nd)
Thoughts:
Today's trade of the day is another pullback trade, like yesterday’s. This was completed using a 5-minute chart.
I’ll be honest with you, I don’t know or remember what prompted me to take the first buy other than just buying into the sharp dip of the panic. Maybe I just felt that it dropped hard enough that support should come quick relative to the volume as it happened in this first trade. Nonetheless, I took the 10% gain but missed out on the big push to 7000s!
On the second trade, I just did a simple buy on the panic drop and used the bottom of the last push as the base. If there is continued volume, the support should come. I bought at the bottom of the panic and sold close to the base for 15%.
Nothing here is meant as financial advice. This is just a strategy that I'm using as a cryptocurrency day and position 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.