Got back in at 11:25pm central time with a short at $253.32. Looking at this trend line price consistency and thinking we will continue downward for a little here. Sellers are starting to come in so I am placing my position and will watch closely. Still have not closed my short here. I believe will test next support around $251/$250.
Well I closed my short for a small loss at $256.05. This was not working out for me. Cut my losses and move on.
Comments
JeroenHouttuin
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are you playing with small amounts? looks like you have a hang of correctly surfing the small waves, but this kind of scalping if pretty difficult if you're planning to make some real money, i.e. if you're playing with hundreds of coins...
altcoinbonanza
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Hey i appreciate your comment. i am still learning so much here on trendlines, moving averages etc...... yes, i would have to agree with you on these plays and small gains. i am only investing what i am willing to loose and so my positions are not very big yet. i play with little so as to get comfortable with market. once i feel more confident my positions will grow and leverage will increase on gains. i love meter dropping these slides and up trends. if i could meter drop with alot of leverage then nice. thanks, keep in touch.
JeroenHouttuin
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Thanks for the reply. That explains a lot. I was wondering how you did it. If I want to quickly scalp with say 100 coins, I lose 0.5 % to the exchange, plus easily 0.5% by spread and pushing price around with market orders. With 10 coins, that would be so much easier, but then it's hardly with the trouble, expect for gaining experience of course, as you say you're doing :)
altcoinbonanza
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if i could make $5, $15, $25 on meter drops i would be thrilled. Do this 10x a day and now your making $. Forget the small % exchange fees this will be meaningless in the big scheme of things once your in and with nice small gains. I will ride tsunami waves as well, don't get me wrong.