I took a brief step into going long on a margin trade yesterday. Glad to be out. Trading is far too stressful, I'll stick to just converting.
I figured that if Brexit happened then the price would likely shoot up $100 or so. So I was prepared on Bitfinex to go long. I figured if I wake up at 6:30 UK time I'd be up before most people and be able to take advantage of it if Leave won.
I woke up, saw that Leave won and jumped on Bitfinex. Saw that the price had already climbed $100 from its low but figured I might catch it soon enough before the rest of Europe woke up to the same thing. I bought at $672.
Then I watched all day as the price went back under the $650 range.
Before I went to bed I set a sell at $679, fortunately it went through. But I think I still lost out with fees.
Back to buying and HODLing.
Had I woken up 1.5 hours earlier I could've made $10k.
I figured that if Brexit happened then the price would likely shoot up $100 or so. So I was prepared on Bitfinex to go long. I figured if I wake up at 6:30 UK time I'd be up before most people and be able to take advantage of it if Leave won.
I woke up, saw that Leave won and jumped on Bitfinex. Saw that the price had already climbed $100 from its low but figured I might catch it soon enough before the rest of Europe woke up to the same thing. I bought at $672.
Then I watched all day as the price went back under the $650 range.
Before I went to bed I set a sell at $679, fortunately it went through. But I think I still lost out with fees.
Back to buying and HODLing.
Had I woken up 1.5 hours earlier I could've made $10k.
Uh... buy on the rumour, sell on the news? I stayed up all night to do so. The moment Leave was claimed with 75% certainty, things fell flat.
I made $3k, but I'm chicken taking too much risk on leverage. Could have been more if I hadn't opened one last long at too late a time.
. 
