Crypto trade of the day: 08/10/2017 – GBG/BTC – 21% PROFIT!
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.
I just followed and Upvoted you.. I like your idea, "trade of the day"
This is the GREATEST DAY of my TRADING ADVENTURE when I have Master Luc following me. I've only learned from you....any input from you would be welcomed!
Hi,luckily I have exactly the same mind set! never sell when loss. and the same,if it drop under the ground,nvm,as you said,never invest more than you can afford to lose.most of the time, it will bounce back when there is no a bad news.
aha Thank you nice blog.i am also a follower of luc
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STOPNice trade! I like how you marked up your chart showing your line of thought.