CoinCoin Trading Chronicles - episode 2 - The big dip
This week was tough for everybody.
I took a big hit on the 18th, 263€ in losses ;(
I got stuck in many positions when the big dip hit.
Basically it looks like the dip was created by all the money going to BCH. BCH went to the moon without me as I don't hold any of it. When BCH finally went down everything else went up. So we finished the week in the green.
At the end of the week, I realised I'm better of just shorting the coins that are dipping, instead of HODLing to them like a newbie and hoping they would go up some day.
I felt I was blocked with my Stratis bought at 0.0025BTC. Finally I sold some at loss, but re-bought them even cheaper.
TLDR; Don't HODL when you know the coin is going down, sell and rebuy at a lower price.
| Date | Portfolio Value | Gains | Gains in % |
|---|---|---|---|
| 13/08 | 5 785 € | 0 € | 0,00% |
| 14/08 | 5 953 € | 168 € | 2,90% |
| 15/08 | 5 792 € | -161 € | -2,70% |
| 16/08 | 6 147 € | 355 € | 6,13% |
| 17/08 | 6 087 € | -60 € | -0,98% |
| 18/08 | 5 824 € | -263 € | -4,32% |
| 19/08 | 5 925 € | 101 € | 1,73% |
| 20/08 | 6 157 € | 232 € | 3,92% |
Week Summary
| Duration | Total Gains | Average daily Gains in % |
|---|---|---|
| 7 days | 372 € | 0,95% |
Thanks to the nice green day on the week-end, I finished the week in the green.
Yeah I sold out what little bitcoin I had anticipating something like this. Market rules usually dictate that after a boom there has to be a correction - I thought it would be best to avoid that correction and sell out before that happened.
Anyways, Im glad it turned out alright for you.
It's like surfing, you need to take the correct wave.
Very good analogy, and yes you do.
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