Thursday, 4 January 2018

Break from crypto-trading and back to crypto-trading

It had been a very busy month recently and I'm very occupied lately from work and the festive period. With my project and all coming to an end, this also means that I have more administrative works to be done.

Speaking of which, I've taken a mini-break from my crypto-trading. And what?
Ripple went up 1000% and many other crypto surging pass ATH?

It's alright.. *Ouch.. I'm pinching myself. Real hard!! :(

Guess what.. I'm back for a short while now :)

Since my latest post (here) on crypto trading, I've mentioned that I've withdrawn my capital as well as booking 100% profit along. Now whatever that I'm holding or trading around with are basically free chips. And if anyone does a simple calculation.. it's only a small USD200 that I left in the account after my withdrawal :(

On 02/01/18. Right after New Year, I've made a small return onto crypto-trading (yes.. as I'm on leave). And hereby, today, I will present my results for this 2 days. Before I go back to work tomorrow. Coming weekend is gonna be busy :(

I've initiated 3 trades (which I will not name them) in this 2 days. All the trades are held for less than a day and these positions are heavily dependent on technical indicators, which fortunately turns out well.


I remembered one wise senior has ever said this - Technical indicators or TA is all about the probability and not certainty. Hence, there will also be time when TA will incorrectly indicates the signal.

If anyone were to ask me what indicators or where I'm doing this analysis on..

You may wish to drop by cryptowat.ch (link here) and if you're using Binance, you may wish to go to click on 'Exchange' on the top left hand corner and select 'Advance'. From there you'd be able to use a number of indicators they provide ranging from MACD, StochRSI bla bla bla.

Here's a simple snapshot of the indicators Binance have:


Just a quick update on the result this far since 02/01/18. If anyone is using Binance, here's a quick snapshot from Binance. Oh yea. If crypto were to undergo a massive bear attack again. A small 60% slap will bring me back to my free chips :(


USD 549.04.. Hmm. On a USD200 cost. This will translate to a 274.5% gain over 2 days?!

*Ouch again. Pinch myself.
If I've not withdraw a single cent. This amount would have been bigger!


Remember what I said previously?
YES. That's it. Beginner's luck.
Today, many fresh funds are continuing to flow into the crypto-game. While this game might seem to come to an end as what many gurus see it. I'd say that. There should be some time more before a game over should it really happen.

However, I wish to emphasize that. In each different type of investment (be it gold, forex, commodities, stocks or anything), there is a certain risk involved. How big or how small the risk is, is up to the 'asset' type and your game play. Some may disregard cryptocurrency as a form of investment. It's alright.

So what's your game play?
Remember the difference between Investor, Traders and Gamblers (link)?
The participation in this 'crypto-bubble' or 2017 Tulip Mania anyone would call it has helped me and I believe it had helped many. As to when this will end and who will be caught as a bag holder, let's open our eyes wide and have some popcorn.

If this is written in the book of fate that cryptocurrency will end tomorrow, I'm still sitting on 100% gains from crypto in cash!


Do not forget the disclaimer and note below and yes, I'm prepared to lose all my free chips as well! :)

Note: Investing in cryptocurrency is very risky. Please do your due-diligence before any actions. Having that said, I'm prepared to lose every cents that I've input into the crypto world should anything fall through. I do not recommend investing in cryptocurrency.
 





6 comments:

  1. Hi Sd - Welcome back :)
    I was hearing abt this etoro where u bet on price and not buy the digi currency itself.
    Any thoughts on this and any pointers or link would be of great help.

    Thanks again

    ReplyDelete
    Replies
    1. Hi Praveen,

      Thanks for dropping by once again! I’ve came scross Etoro earlier but I’m not using it. Personally, I prefer to hold onto it and make my own calls than being in a contract to bet on the prices. These are futures contract - which is an agreement to buy or sell an underlying financial instrument (in this case, crypto) at a specific date and price. Yes, by using futures, you do not hold any coins and that you’re purely betting on the price. Which is a very speculative game.

      While futures is a common tool used by many to hedge against their original investment, it is also very commonly used by punters who ‘wish’ to ‘earn a faster cash’.

      Delete
  2. SD,
    are you facing any issues with Gemini?
    i tried to fund in twice, first one got rejected.
    second one pending since 1 week. havent received funds yet.

    ReplyDelete
    Replies
    1. Hi Foolish Chameleon,

      I’ve not be been funding Gemini. But in Dec, there is a small change. Clearing Code is changed from 121042484 to 322286803.

      Hence, if you’re using the older clearing code, the funds will bounce back to your account. You may want to repeat the remitting steps with the new clearing code!

      Delete
  3. Hi SD - yet again :)
    I have an account in kraken, what is your view on this exchange ? Is it possible to download from kraken and upload the same to different exchange for sell ?

    As always , thanks for your reply ;)

    ReplyDelete
    Replies
    1. Hi Praveen,

      I do have an account with Kraken, but I've not used it. Instead, I'm using Binance as this exchange is really good. From what I understand, it is possible that you do so - Having to withdraw the coin you've bought from Kraken, and depositing it to another exchange to sell it.

      Delete