Trading Journal

A Closing Trade

Journal Entry W/E 09/01/18

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Reflections on the end of my 1 year ‘$1,000 crypto portfolio challenge’

It was on Sep 1st, 2017 that I enthusiastically began my quest to invest 1,000 bucks in cryptocurrency and turn a profit in the market. My promise was to gift 20% of the profits to the subscribers. Unfortunately, one year later on the concluding day there are no profits but, looking back, there are many positives to take away from this experiment and lessons learned (the hard way!) along the journey.

Screen Shot 2018-09-17 at 11.05.21 PM.png
The closing portfolio balance on 9/1/18 was C$976.21

 

Positive Notes

  • I rode the China FUD from November last year that saw the portfolio drop initially in value only to reach an all time high of C$4,284.01 on Jan 14th, 2018 during an epic bull run for Bitcoin and Altcoins.
  • The portfolio stuck to fixed rules that were set at the start of the challenge even if some of them were to the portfolio’s detriment. It’s important to have trading rules to limit and shape your decision making options otherwise you can run riot and trade all around you.
  • I learned lots about the phycology of trading and how to manage my own emotions and impulses.

Lessons Learned

  • Taking profits is never a bad idea no matter how small. Don’t be greedy.
  • Utilize stablecoins, like Tether, when trading on exchanges. Tether is a great way to jump in and out of the crypto market when sentiment quickly changes.
  • Trading experts don’t exist. Nobody can predict what will happen to the price of a coin or token so blame yourself if you listen to an ‘expert’ and follow their direction.
  • Hodling until a price/market recovers is not always the best way to deal with a price drop because the market can certainly continue to drop even further. You are free to exit and re-enter the crypto market. This does not mean you have weak hands. This means you can buy more at a lower price.
  • Fancy spreadsheets and self made google sheets are a waste of time in the context of price tracking. I’m guilty of fiddling around too much with them and not doing enough learning and fundamental research. Use portfolio tracker apps like coin stats, blockfolio or Delta; saving you  hassle and time.
  • Most altcoins are absolute muck and will not survive. Don’t buy crap. Try and look into the future, beyond the hype and concept. Can you see your coin there in the real world with an actual use case that people need and want?
  • Stop losses are useful.
  • Avoid checking the price of Bitcoin every hour. Friends and family are two examples of  the many more important things in life.

Looking Forward

So, what is my next crypto trading experiment? I don’t know yet but I have an idea of what I’d like the challenge to involve:

  • Video logs are a far better method for engaging with people and getting my message out there. My next project will certainly involve videos or audio. People don’t have time to be reading lengthy blog posts.
  • Trading one or two coins at a time across one exchange is easier to manage than 7 or 8 bags across various exchanges, wallets and cold storage.
  • I am big into soccer and Fantasy Premier League (FPL) so it would be great to incorporate the fpl community on twitter into the challenge. I am also a film & Tv Production accountant which i really enjoy so there’s two possible ways this portfolio challenge could be themed.

I would love to hear peoples thoughts and suggestions as to what I should do next. Please get in touch on twitter or comment below!

Stay Tuned,

Cathal – The Coin Movement


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…as simple as that!

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Journal Entry W/E 01/26/18

The tracker has been updated at last. We have some charts and historical data to play around with and reflect upon; thanks to a google sheet that is quite pleasant on the eye. View and make your own personalized crypto holdings tracker here.

Crypto Portfolio Snapshot and sentiments January 2018

High: C$4,284.01 on January 14th, 2018

Low: C$2,159.07 on January 17th, 2018

Bitcoin is in a short term bearish cycle and struggling to gain any market momentum. That being said BTC can shoot off to the moon at any stage and not look back, leaving plenty of buy orders unfilled below the USD10k mark and creating new wave of FOMO that sees alt holders liquidate and pile back into Bitcoin. BTC is an absolute beast and the most resilient cryptocurrency which is why the king will stay at the top for a while longer.

There will be more positive media coverage for Bitcoin when LN (lightning network) becomes ready for the Bitcoin mainnet, later this year. LN have the potential to allow users to make Bitcoin payments that are instant (milliseconds), private (not all stored on blockchain) and much much cheaper. Buying a $3 coffee with bitcoin and paying fractions of a cent in fees may soon be very very possible. Read more here.

SAFEX has been very volatile of late due to low trading volume, which makes the current price unreliable. Dan Dabek and company released the SAFEX bluepaper and revamped website, giving hope that the project may spring into life soon and implement the marketplace that investors were promised. To be brutally honest this is definitely the riskiest holding in the TCM portfolio because of slow development and the number of competitors that Safe Exchange have. John McAfee is bullish though, if this tweet can be taken as meaning anymore:

John McAfee Tweet on SAFEX

EDG sell order has been placed (reasoning in tweet below) ; Patientory and Cannabis Coin are projects that may be replacing Edgeless. Research is still ongoing – they’ve both peaked my interest because of low market caps and niche.

TCM Tweet on Patientory and Cannabis Coin

Edgeless Sell order
BTC-EDG sell order @ 21500 Satoshis

Bitcoin, Ethereum, Salt , Nexus and Waves are all very solid hodl projects. I don’t think we will ever see Ethereum Classic under USD$30 again.

Altcoin Watchlist: I don’t think we will ever see Ethereum Classic under USD$30 again. The current BTC price is 0.00258 (USD$28) and I’ve recently added more ETC to my personal portfolio.

Stay tuned,

Cathal


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…as simple as that!

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Journal Entry W/E 12/11/17

Hello. Apologies. It’s been too long! Keeping a crypto blog updated is fricking hard, information is outdated in seconds but it’s nice to have a historical record of events so that I can look back and laugh at how wrong I was.

What a mental few weeks in the cryptospace. A new wave of interest and media coverage led to an unprecedented rise in the overall market cap, with Bitcoin leading the way. We hit USD 1/2 Trillion (sounds better than 500 Billion ;)) on Dec 12th; an increase of circa 60% in a month.

Total Market Cap December 2017
Peaked on Dec 12th, 2017 @ USD $504,846,000,000

The recent surge dwarfs, what felt like the game-changing breakout moment of 2017 in  April & May. New bitcoin or altcoin buyers beware. The market is not always like this. We haven’t seen any FUD recently but mainstream media are going to latch onto any scaremongering clickbait-worthy story. If you’ve recently bought in and soon find your Bitcoin down 20-30% in value then DO NOT PANIC and DO NOT sell immediately. Let it play out a bit and make sure you are getting quality information from reputable sources. These types of fluctuations happen all the time. Here are some trading rules to follow.

The TCM portfolio balance has been bloody for way too long. Until now!

Portfolio Snapshot 

12122017 Portfolio snapshot
Portfolio Snapshot as on 12/12/2017 10:59pm ET

Don’t let the $ figures above fool you. The portfolio is up 74% in Fiat value but this is primarily down to Bitcoin going nuts of late. The BTC value of above portfolio is actually down. Maybe ‘hodling’ High Market Cap Coins and Tokens IS the best policy. Buy into top 10, sit back and allow the crypto coin movement/mass adoption continue to run it’s course.

Here are some TL;DR thoughts on current holdings.

December sentiments
Sentiments

Weekly Altcoin Watchlist

To be honest everything is on the radar.

Bitcoin cash will be available to purchase (and presumably sell) on Coinbase from Jan 1st. It would be pertinent to accumulate early in my opinion.

You can view the portfolio holdings here

Email subscribers will also take a share of  the portfolio profits on Aug 31st, 2018

Go ahead and register – I won’t sell your email address and personal deets to hackers, pinky promise.

Stay tuned

Cathal


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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Journal Entry W/E 10/22/17

There will be an extended halt on trading activity – likely 3 to 4 weeks. The reason for the break is to allow myself some time to develop other aspects of the blog. It’s dawned on me that a large quantity of this blog content is geared towards people who have a fairly solid basic knowledge of the crypto space. I want to create an entirely separate information section aligned to the needs of beginners and crypto-illiterate folk; so that there is something for everyone who stumbles upon thecoinmovement.com

The alt portfolio is fairly well diversified. It’s going into hodl mode – for now.

You can view the portfolio holdings here

Stay tuned

Cathal


Journal Entry W/E 10/15/17

Portfolio Snapshot as on 10/16/2017 at 6.08pm ET
Portfolio Snapshot as on 10/16/2017 at 6.08pm ET
Portfolio Distribution 10/16/17
Portfolio Distribution 10/16/17

The Pie chart looks slightly more colorful this week since the portfolio has been diversified. Ripple (XRP) and Salt (SALT) were hasty and rushed buys during my work lunch break today. I say hasty and rushed because the entry prices turned out to be quite high, but I’ll get into that later. Hindsight is a great thing!

Stellar Lumens FOMO Story

Let me try and justify my psychological state today. News broke on Twitter via Coindesk, regarding the Stellar Lumens (XLM) partnership with IBM, in the early hours of Monday morning.

Read More

This was big news for Lumens
This was big news for Lumens

I whipped out the laptop and logged into Bittrex just after skim reading this article above on my phone. It was 1am and I was half asleep but I had hazily read enough to realize that this story will shoot the price up considerably. 2FA was slow getting me in (excuses!) and the price was 40% up on the hour! That big green candle threw me off so much that it made me think the opportunity was lost a little. I threw in a bid about 10% under the current ask price and went back to sleep, thinking the hourly candle would pull back and trigger it. I was wrong.

Stellar FOMO Tweet
A final Tweet before sleep last night

My morning commute was slightly spoiled because the exchange order did not fill and the price had mooned circa 130%. Anyway, I shrugged it off – or at least thought so!

There was a lot of buzz around the Ripple Swell Conference in Toronto that led me to buy a chunk of XRP. This was a logical portfolio addition, and the fundamentals for Ripple are strong.

Then, upon browsing Bitcoin Markets on Bittrex, there was a super new trading pair – BTC:SALT. The price had rocketed circa 40% on the hour. Sound familiar? I ended up liquidating some ETH into BTC on the exchange so I could ride the wave. The price I ended buying at was shockingly bad – there was no short term value in it. Pretty much peak pump! It was a poor call executing such a trade under the time constraints of a lunch break but my emotional state was tainted from missing out on Lumens the night before. FOMO is Real  – and this time I allowed my judgment to be clouded

ETH:XRP Limit Buy
ETH:XRP Limit Buy
BTC:SALT Limit Buy
BTC:SALT Limit Buy

Lets see how it pans out over the next week and reevaluate. Technically this passage should be in the W/E 10/22/17 entry so we’ll come back to it a little later.

SALT Rate could have been worse. Check this out.

Panic Buy Salt
Some ridiculous early Bids/Asks filled. Two people bought with rate of 1 BTC to 1 SALT!
SALT Red Dildo
Because of this – the first hourly candle is the definition of a big red dildo

Talk about a panic buy. These traders either have money to burn or are plain stupid! Pot kettle black 🙂

As always, you can track all our transactions and holdings here


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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Journal Entry W/E 10/8/17

No new additions or sells this week. Overall portfolio value is recovering nicely considering the market bloodbath since we started the quest.

Portfolio snapshot as on 10/11/2017 8:08pm ET
Portfolio snapshot as on 10/11/2017 8:08pm ET
Portfolio Distribution 10/11/2017
Portfolio Distribution 10/11/2017

The portfolio is heavily weighted towards Bitcoin and Ethereum – combined they account for 69.1% of total portfolio value, as per above pie chart.

Hodling Nexus, Edgeless and Safe Exchange long term.

It’s been a week that has ended with a strong Bitcoin price rally. BTC is moving towards the ATH, above USD$5,000, that was set on September 1st, 2017 – around about the time we bought into the market with our CAD$1,000. Altcoins suffered as money flowed into Bitcoin. The logical reason for this could be the impending split on Oct 25th. The success and profitability of the previous hard fork, which saw the creation of Bitcoin Cash, is still fresh in the memory. Traders are accumulating Bitcoin in anticipation for a similarly profitable event which will see them bag equivalent holdings in Bitcoin Gold.

October is a very active month for the development of Ethereum. The byzantium hard fork is the next major update and is scheduled to trigger in a few days. I expect this event to have a positive reflection on the short/medium term price of Ether. The changes are designed to improve transaction speeds, smart contract security and possibly help introduce privacy options. Read more.

Blue Magic Capital is a very informative resource. Here is an excerpt from their weekly blog entry within which they portray a fairly bearish sentiment towards the altcoin cryptomarket, for the short term at least.

“For the little investors, newcomers, and excited people that came here for amazing returns, my advice is this one: Save your fiat or BTC, save as much as you can for the next altcoin season. We’re in a very very similar situation as 2016 October (market dynamics, not total market cap), which means that probably there will be another “golden era” to invest in altcoins in a few months (buying the bottoms), and who knows maybe repeat similar returns of this year. That would be truly legendary, but definitely possible. After all, we’re in a Mega-Bull cycle, right? 😉Read more.

As always, you can track all our transactions and holdings here


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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Journal Entry W/E 10/01/17

BTC EDG

Edgeless.io is an Ethereum smart contract-based Casino offering a 0% house edge. They claim that their casino concept will solve the casino transparency question once and for all.

Reasoning

Edgeless 0.1 was launched on Sep 28th. 800 pre registered users were allowed to trial the platform on  for the very first time and play some popular casino games like blackjack. The platform graphics look clean and modern.

Bid placed at bottom of wick on support line, Sep 25th
Bid placed at bottom of wick on support line, Sep 25th

Bittrex order

0.1 soft launch available to 800 registrants on mainnet
0.1 soft launch available to 800 registrants on mainnet

Unfortunately there was a server overload which caused the team to perform a server switch. The EDG price did not respond too well on the exchange.

Edgeless Tweet September 2017

I bought EDG to the value of roughly 5% of my portfolio. One of my trading rules is to never place more than 20% of current portfolio value in one Alt position (other than BTC and ETH) This trade has not gone exactly as planned due to the failure of the soft launch and market reaction.

However, there promises to be news in October regarding the pending casino license for EDG. The price is sure to rocket if this license is granted. In the case that the wagering license is refused then i will have to consider exiting my position and taking a hit, albeit a small hit.

Hodling EDG for now and keeping an ear out for community developments/whispers this month.


BTC NXS

Order filled 9/27/17
Order filled 9/27/17

Reasoning
Many speculators/traders found it baffling that the price of NXS continued to tumble last week, despite the widely attended nexus earth conference and its apparent success. The bear trend has continued for now.

Bearish downtrend continues for Nexus
Bearish downtrend continues

I’m, again, giving this one some time. Nexus Earth is massively ambitious – they aim to one day place cube satellites in space. NXS overall mission is to free human kind from centralized systems by ‘decentralizing the decentralization’ An interesting feature of NXS is that they have channelled the energy and resources usually wasted by miners to create a byproduct. Nexus operates on a scientific proof of work system, explained on nxsprime . The POW system finds clusters of prime numbers.

A quick snapshot of the portfolio showing two new coin additions this week.

Portfolio snapshot
Portfolio snapshot

You can track all our transactions and holdings here


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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Journal Entry W/E 9/24/17

SAFEX 092217

Reasoning

The more I read up about Safe Exchange and its future, the more I’m encouraged to go long on this token. This is why I actually ended up removing the stop/loss at 0.00000250. Its a fully decentralized  marketplace run entirely on a blockchain. Owners of the token will receive dividends paid out anonymously in a cryptocurrency called “Chille”. Do your own research on the project and you’ll see the potential. I will scale out and take profit, over the next few months. Definitely much bigger risk/reward ratio here.

SAFEX stopped out tweet
The Chille Dividend calculator release occurred on 9/24/17
SAFEX why remove stop
The bottom of the wick on daily candle was very close to activating stop/loss position. Too close for comfort.

There is a strong and transparent core developer team behind SAFEX. The chief architect sent this tweet out alluding to the fact that there was a new feature release. This is what initially prompted  analysis.

DanDabek SAFEX tweet 092217
@dandabek

In terms of TA, the chart below shows almost 100% retracement from 60 day high. Bollinger bands narrowing, again signifying potential breakout.

SAFEX TA
Significant volume levels on Bittrex

It is also pertinent to mention that SAFEX is currently only trading on Bittrex. There is no news to date of further cryptocurrency exchanges adding SAFEX  yet.

You can  track all our transactions and holdings here.


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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Journal Entry W/E 9/17/17

**Update 9/16/17: Ask: 0.00082000 full order filled. Total ETH 0.28343390. Gains!**

BAT buy Details borderBAT buy cover 091017

Reasoning

I follow @BrendanEich, the CEO of a privacy browser called Brave. Basic attention token is the asset behind Braves’ attention services platform and a development upgrade is imminent. BAT Mercury upgrade is scheduled for Summer 2017 release, according to the Brave roadmap. The upgrade adds significant functionality to the brave browser. The Tweet below speaks for itself and the release is sure to see a surge in price for BAT, which has been bobbing along recently.

BrendanEich Close Mercury

Amongst other T.A. signals, narrowing Bollinger Bands on 9/10/17 could be a foresight to a  sharp advance or decline. There might be a breakout here. I will hold for a week for a ROI circa 18%.

Basic Attention Token Chart 091017

You can  track all our transactions and holdings here.


Disclaimer:

The Coin Movement does not give out investment advice of any kind, only opinions…simple as!

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