Nothing major hitting the news sector on Bitcoin and I see some weakness in the bulls this morning. Getting in with a short and my exit will be around the $235.50 price area. Sellers are still outnumbering buyers right now also. Will try a meter drop here.
Closed with a slight loss at $237.90, my entry point was $237.18. Not what I expected but this is OK. Bulls came in rather quickly and this turn will not work for me.
Comments
Sprks
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hola, just a question - what plantform do you find best to play these mini-shorts ? are you trading on margin? and using Bitfinex, or simply trading coins on an exchange... I would be interested to know, as commissions and speads leave me very unsure of trying these mini moves.. thanks
altcoinbonanza
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I do trade currently with Bitfinex. Yes I am trading on Margin but only trading about 5% of my holdings. I am trying to learn just as you are but being a little conservative on my margin as well. So my profit/loss right now is very small. I will change over to Gemini as soon as they are open and by then I will trade a little more aggressively but cautious as well of course. Sometimes these mini moves can make you great profit but need to know your exits otherwise you will get caught with a bad play on your hands. I would rather take a small loss and be able to play again.
Sprks
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thanks... interesting to know... I'll check out Geemini too... I heard somthing about bitMex but I haven't looked into it..
altcoinbonanza
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I think Gemini will probably be the most professional trading platform for this type of Bitcoin market.