Topic: LastLaughingGuy - day trading diary - page 19. (Read 47712 times)

Thank you !! and i find the current market tought to be honest. but staying in the game means also that you will be here when there is money printing time. that is all what matters!




  mooon 

Well good to see that you're making it through trading. A lot of people are finding it difficult to achieve anything by trading cryptocurrency. This is a difficult thing to do and you will have a lot of work to do and also try to follow trends as well. And anyone who is trading without using the stop loss is definitely waiting to lose everything they have. Stop loss is just a savior but you will have to know how to make use of it as well. Cause there are times you can set stop loss and not be there to put back the trade in the right direction. So knowing all these are very important. Good luck.

Wrap up CW23

Hey all - finished the week with a loss of 0,026 btc.

really a low volume week for me. till friday i basically had no time at all. it resulted in 7 losing trades adding up to 0,06 BTC loss till saturday. Yesterday i was able to trade during the day and compensated some of the losses. Overall not a week of impact for my trading diary.


trades cw23


overview progress:






winning trade of the week:
losing trade of the week:
no charts here this week - there was nothing special due to the lack of trades.

Hi,

how many hours...i would say on average around 4. but that paints the wrong picture. at the end trading is a passion for me. i'm working full time ..thats 40h ..spending around 15h on top of that in the car on the highway for that. depending on work load and family life i have more and sometimes less time. Also if work is demanding I'm way more tired. usually iam on like from 9 pm to 1 am. When the market is fun I'm not sleeping haha...I'm also using the way to work to listen to youtube thats like 2h for beeing uptodate.

When iam trading iam looking at the daily and 4H charts of the top 30 coins in volume on binance. 80% of them stay the same so you get a feeling for the coins prices. then i'm using a screen with 32 charts where i see the hourly charts and the 7 /25 /100 and 400 MA. i even have the 1600 MA on it. the 400 and 1600 MA make it possible for me to see where the prices are relative to the MA's on the higher timeframes.
e.g. on the 1h chart the 400 MA is the 100 on the 4h chart and the 100 MA on the 1h chart becomes the 25 MA on the 4h. that helps me to see where prices are (consolidating , correcting, breaking out, having a pullback to the breakout level, etc..)
Here is the screen - i also color code the charts

yellow: active buy order
green: bought - good
red: bought: close to stop / dangerous
violet: high volume coin on the 15 min chart (coins which get played in the market and have 4k BTC+ daily volume)



then iam looking for setups and iam busy with charting / managing trades / posting all on twitter in realtime.
I dont use any telegram channels because the ones i joined are 95% full of hindsight trader who  post one win after another and make you feel you need to take trades. i have no time to filter the good content from the bs - so i dont read much of other traders.

and risk management is a chapter of its own....
I do vary my riskmanagement.
the less discipline and self control you have the more strict the rules need to be. depending on my state of mind and most recent trades i may switch from  very strict to very loose.

per default i risk arounf 0.35-0.5 % per trade. If the market goes good and i got some positions in the green I'm immidiatly ready to risk more - but never more than 2% on a default setup. When something goes wrong and i tilt then at 5% account loss i cut no matter what and take a day off - that happens rarely to be honest ...nowadays .

since my winrate is less than 50% the risk management is the most important aspect of my trading. when i lose more than 7-8
% of my account due to misstrades with all "valid setups" i go into survival mode, meaning cutting down size,  adding on more positions only when the active one are in the profit, having strict stop losses and risking max. 0.33% of the account on a trade.  when iam producing green trades i risk more again.

way too many words sorry...but its hard to explain all that in few words, because its all more complex than you see in your standard youtube vid...


Thank you - thats very kind:)

You really did well. All around repeat that you need to get good knowledge about trading and use a variety of services to monitor the coins and determine the right time to enter. You've provided good evidence that none of this matters. The main thing to be patient and not to rush and succeed. I wish you to increase your capital even more.

How many hours a day are you currently trading? What is your daily routine like? I would also like to know about your risk management system.

Wrap up CW22

Hey all - finished the week with a gain of 0,154 btc. and the month May with a gain of 0,4 btc.

Iam happy with the results, because last months were not easy for me. as it can be seen from the monthly overview my number of trades increased alot - trading less doesnt really work for me but i'm ok with it since more often than not those were solid setups. however i still have a lot of shitty trades which are simply unnecessary and hurt my winrate alot - need to improve there! Basically all trades in May with a loss bigger than 0,035 BTC are bad trades or trades with a very poor trade management -and there are too many of it.

trades cw22


overview progress:



trades May:



monthly chart since start here last October:




winning trade of the week:

trading Link-BTC was great this week. all coming from the double top formation which defined my entry zones. my cash cow this week.






losing trade of the week:
no specific trade- most of my losses came from a BTC pump which resulted in dump in alts where i was AFK. got stopped out with slippages of 2-3% because i had stop losses with a timer. bad luck, i dont mind it so much.

Wrap up CW21

Hey all - finished the week with a loss of 0,02 btc..

The week started great and i think on tuesday i was already up 0,08 BTC. but the following days just offered mediocre setups but i traded them nevertheless. On top of that i took also trades i usually dont want to take or with really small size. Those trades are especially break out trade which just dont work if the overall market is stalling. so in the 2nd half of the week i collected one loss after another which also led me to slow down since friday. would be nice to reflect faster on the trades and shut down immidiatly but yeah ..working on it.



trades cw21


overview progress:



winning trade of the week:

actuallytrade of the week was infact  breakout tradein LinkBTC which did net a gain of around 0.05 BTC. ofcourse just a fraction of what would have been possible. link went uip to almost 19000. but i was happy with the execution.



losing trade of the week:

that was WTCBTC - super stupid trade where i bought in because of buy pressure with a stop of 20 sats but then i changed my trading plan and wanted to swing ....detailed thoughts on the chart... so bad!!!

Wrap up CW20

Hey all - finished the week with a gain of 0,119 btc..

Was break even till friday but then had a very nice day. weekend was not happening much -did lose some of the gains on saturday/sunday but just had a few trades- basically all happened on friday. trading volume  the highest since start of the challenge. crawling up to the highs. 
BTC still complete madness. if we somehow go above 8.5k i guess next stop is 10k. super annyoing for me since iam still not into my long term position. already realizing that i have to pay likely 5XXX -6XXX per BTC.



trades cw20





overview progress:



winning trade of the week:

that BAT trade  did net a gain of almost 0.05 BTC where i longed the break (around 50 and had the discipline to sell near the incoming 100 MA around 5350 of the 4h chart where it infact rejected later. it is now trading at 48.




losing trade of the week:


löosing more than 0.07 $BTC in MATIC. too big of a position -5% drop in my face and then a missclick where i bought half more instead of selling half. disgusting trade!
they faked a nice break out and sold into it. worked perfectly - for them.

Wrap up CW19

Hey all - finished the week with a gain of 0,131 btc..

sounds not bad but just yesterday night i had my worst night in trading so far with a loss of around 0.15 BTC. reason was the highly volatile market because of the parabolic BTC move. so at one point i decided to take out my stop losses because i thought when BTC comes down alts will once again spike up (so i was basically tethered during the upmove because i didnt lose much in $$$. But then ofcourse btc corrected sharply but alts dumped too which double%$&§ed me. so yeah once going to bed i ofcourse but the stop losses to see all executed in the morning. just lack of discipline got insta punished. I ALWAYS have stops - so i thought. Must not happen again. If i wouldn't have had that brainless idea i could be up almost 0.3 BTC for the week which is currently 2k $$$ ...



trades cw18






overview progress:



winning trade of the week:

the tether short from 7370 to 6800 which did net a win of 0,11 btc.



losing trade of the week:


no specific charts - but here the log of 3commas which showed my biggestr loss in one night so far  -  => 3commas is a 3rd party program i'm using and iam really happy with it (ref llink -  https://3commas.io/?c=3c-LLG )



 

Wrap up CW18

Hey all - finished the week with a loss of 0,052 btc..
I'm ok with it. Basically its the loss of the shorts of last weekend which i mentioned already in my monthly wrap up. that is already digested. I'm currently stricktly not trading coins with a daily volume below 400-500 btc. that helps already with regards to not taking so many setups because the 15 coins which are left over dont offer so many possible setups. since the alts are still not moving much i will also focus more on very quick profit taking (2-4% trades). whenever i am aiming for more it does not work out currently.  

overall iam fine with the week eventhough i went down.

trades cw18




overview progress:




winning trade of the week:
losing trade of the week:

skipping those again - nothing fancy happening atm.

edit_ Monthly wrap up:
finished the month with a loss of 0,086 BTC

i think first losing months since the start here. you can see  in the history that i got a lot of negative trades. but  just the last two btc shorts did cost me around 0.25 BTC. which turned my month into the red. meaning trading the other coins is still profitable, even with the high loss rate => Riskmanagement >> everything else...




Wrap up CW17



Hey all - second biggest losing week since start of the diary. Finished the week with a loss of 0,16 btc..
and it seems like the first losing months is incoming. the tether loss did hurt with 0,2btc. was able to make 0.1 btc with few nice trades right after the close of the short. but the last days my success rate was literaly 0%. i took small position and tight stops but it did still add up to 0.06 btc. charts and setups looked nice but they just didnt play out - one after another. that made me adjust my current rules for the next weeks until iam booking profits again.

a) not trading coins below 400-500 btc daily volume - maybe in very nice setups but then just with 1/4th size.
 the low volume coins are extra weak these days and are just faking out - useless.  

b) trading fking less.... was my goal before!!.

iam currently short worth 6k $ on bitmex (5100 - Sept future) - so not much in profit and also put 1 btc into TUSD - iam bearish - the last days priceaction is just so weak. iam excited to see the cme futures open this night and how the monday will. iam expecting 4600-4700. if that trade fails again i may book another significant loss. i will not let it run 7% against me though - like last week.





trades cw17


just losing trades at the end...shows my current  struggle.

overview progress:





winning trade of the week:
not feeling like posting a winning trade...sorry

losing trade of the week:

my tether trade - see the trade prior post.

Hey i really want to genuinely thank you both for following that here

edit:

update on my tether position posted below.

got stopped out at 5403 - overall loss 0,2 BTC. it is alot for me or better for my trading style. i think the biggest loss since start of the diary. i dont know why i took that unnecessary risk before going into holidays. i would say my risk management is the reason why iam still proftable with so many losing trades but what i did here was one major fuck up . happens- nobody is perfect and it is crucial now not trying to win it all back. my biggest account draw downs in the past started almost always with a major loss  and then even bigger and worst trades where i tried to get even fast. but hurts nevertheless.




Wrap up CW16



Hey all - sorry for being one day late but i took the last 5 days off of crypto and did spend the eastern holidays with the family. a nice litte reset which tbh was also needed. on red trade followed by another. always small losses but wrong mindset over all. too impatient - too tired.

Finished the week with a loss of 0,023 btc..
trades cw16



so only red trades - except the bitcoin short. but even i made 0.048 btc on it i gave away half of the gains.

overview progress:



but thats not the whole story. before going into holidays i went into tether with a big position (2.2btc). absolute terrible decision bcs it was at 5010 and we're currently at 5300 in a very strong looking consolidation. my bias is bearish - i think we will see a 25-30% down move on btc  but its so strong that we can easily go to 5700 -5800 and find a top over there. these extra 10% would mean additional 0,2 btc loss. (currently iam like 0.13btc under water). when you see my trades over the last months i rarely have losses exceeding 0,04-0,05btc so i rly fked up here i got to admit .
strategy is now to cover before the squeeze and maybe re-entering tether (or bitmex short) when we see rejection. but likely i miss the push up IF it comes.




winning trade of the week:
nothing to show here - $ENJ moved very nicely  into the 2nd target zone which marked also the high.


losing trade of the week:
trades is not finished yet - but here is my tether entry:

Im waiting too.

You have not yet posted current week review. According to previous record, I think you will post current week review today, waiting eagerly to see your current week review.

Wrap up CW15

Finished the week with a gain of 0,045 btc..

Hey all - tough market! i have alot of losing trades in the alts. constant pressure, no real recovery in the first 5 days of the week. but as usual with riskmanagement - if you keep your losers small then the rest takes often care of itself.
Iam still short 1.4 BTC since 5367 and tbh i think we just printed major high and will go down from here in the next weeks.

trades cw15



overview progress:



winning trade of the week:

definately ENJIN - bought in there at 2690 and did add on at 2900 - sold all at an average of 3435.very nice trade since it was all pre planned. for the second half of my position i got a trailing stop loss which got triggered quite fast - so unnecessary 0,02 btc lost. on the other hand if the coin goes crazy you got a chance for the 2nd target.



losing trade of the week:

THETA loss was annoying -got stopped out there close to the low. - i had the profit target set at 2550 -so it would have been hit too.

Wrap up CW14

Finished the week with a gain of 0,043 btc..

Hey all - rollercoaster week. Tuesday with the 1000$ move was my best trading day where i could book 0,15BTC just by scalping. unfortunately i gave away 2/3rds the days after just overtrading. The Theta trade which is also shown below basically finally led to the decision to use a 3rd party program from now on to manage trade better. so iam on a trial of 3commas at the moment and first impression is that it is awesome. posting Stop losses and profit targets at the same time is just a part of the nice tool box. trailing stops and timed stop lossed (stop activates only if prioce is below trigger for a defined time) are super handy and i'm testing it at the moment. let's see how it goes.


trades cw14


overview progress:




winning trade of the week:
Theta was a nice setup with its support at 2200 whee i longed. it played the complete range up to 2600 which was first majow resistance. but i missed an exit completely and ended up getting stopped out at 2360 - ALOT of lost book winnings - must not happen!


losing trade of the week:
god damn Nano again - mediocre entry - forgot the stop and rejected a sell - so i threw away my nervs at the low (BTC dumped there and triggered my stop loss)

Wrap up CW13 and the month March

Finished the week with a gain of 0,106 btc..

Overall i got say say I'm not happy with my trading. to many gambles on not so good setups. i know that overtrading is an issue of mine and if iam honest to myself I'm still doing it. I cought a nice trade with BAT (see below) which made the week and the month green. but the current market offers much more potential. Iam though - still not bullish and super carefull. longing the dip in a bear market just right below major resistance is not good in my book. the last times ALTs dipped, they saw a good recoveries but I'm not too sad missing out on that. Playing it safe and preserving the capital. I still think we will see new lows and if not - i dont mind missing out a few weeks of green.

goals for April:
-sleeping more: with a full time job every night waiting for the daily close (1 a.m.here ) is not good. i get around 5.5 h of sleep but i need at least 1h more. got terrible headaches in the evenings during weekdas just bcs of lack of sleep.
-less trades /better setups => will start to record my trades in a more detailed way.
-giving abit more room to the better trades - entering abit earlier (missed out on some nice entries -details on twitter) and abit wider stops - but still ...careful since we re in a bear market!!

i got some more points but i think thats enough for one month.

CYA around!



trades cw13


overview progress:



March i finished with a profit of  0,20 btc..
trades March:


overall graph sind start here last October


winning trade of the week:
definately BAT - was able there to catch a breakout and basically booked the winnings for the months. without that trade i would have been breakeven.



losing trade of the week:
nothing exciting really. biggest loser was 0,02 - as it should be. only problem is that i got too many losing trades.

Wrap up CW12

Finished the week with a loss of 0,016 btc..

Trading atm frustrating for me. missed out entries by few sats and targets not hit by 1-2% where i give away many of my gains. Work this week was also demanding so i ended up not having much time or going to bed early. as a result i wasn't at all prepared when bitcoin dropped 3% and some alts did fall into nice buy zones (e.g. ICX). SO i ended up staring at all the charts having no clue where to enter. there was no setup in place with a good risk/reward so i missed out completely on that dip. In my opinion the market is not at all so strong that you can buy blindly the dip - so as said i couldnt capitalize on that opportunity.

overall i'm currently having still a bearish bias which makes me very careful (tight stops). BTC upmove is on very low volume and fragile - i'm expecting a dump soon.  

But yeah - i got to admit it hurts too to see all the nice moves in many altcoins and not beeing able to participate. currently feels like i'm extreamly underperforming.

trades cw12



overview progress:


winning trade of the week:
nothing exciting

losing trade of the week:
nothing exciting