Yaarrrr, Ahoy matey!

 

That was my pirate impression, did you like it? Thanks, I've been working on it :) In our next adventure we journey to far off lands. There are many "ups and downs" along the way, some....good guys and.... bad guys maybe a ninja. Something heroic happens and then.... A PRINCESS!!! Sounds great doesn't it? Join me, as we set sail! (*cue adventure music*)

 

Sooo maybe it's not quite that exciting, but the ups and downs part was legit. This adventure was to the mystic lands of ZCash. This first map will give you the lay of the land.

 

Zcash, Monero and Dash (all privacy enhancing coins) had been doing well as of late. There has been more buzz about them as people look for alternatives to Bitcoin's high price and diminishing anonymity. On the 10 day map above you can see that ZCash was up trending nicely the week leading up to the 19th when the whole market started correcting. Unlike the rest of the market though which started significant declines on that date, ZCash just sort of consolidated, a bit choppy but overall not down. I'm pretty sure I first saw this right before it topped, it looked way up already so I decided to hold off until the next day. I got home from work and it had come way down from the night before and had started it's way back up again. I only looked at it briefly before jumping in, as usual. And also "as usual" you can't see what I did at the time from this chart, which I promise did not look this bad!

 

My first entry was at $549.00 USD with 1.210 ZEC for a cost of about $664. I was clearly looking for a push above $550 but didn't get it. I got out at $530.06 for a $23 loss. I felt that there was going to be a decent bounce still, I just missed the timing. So I watch and wait for it to come down a bit more. It continued down, looked to be bottoming around $510, I got back in at $522. This turned out to be a good buy! I rode this little move right to the top, let it roll over a bit and then when once the size on the buys dried up and the ask started stacking I got out at $589 for a profit of about $81. So now with my two trades, one being a loss I'm still up about $60. The next trade was kind of a repeat of the first, trying to get what I think is a bounce but in reality is the middle of a back side drop. In at $545, out at $532 about 30 min later for a loss of like $17. Now my $60 profit is down to about $43 :(  I need to stop buying into these drops, it seems that I'm not pulling back to look at the other time frames before and or during trades. I think I am too fixated on the 1 min charts and watching the ticks, this I need to work on improving. I take my loss but again I feel like there's more move to be had, back to watching and waiting. A few hours later it had come down to $480 and looked like it had found a bit of support there. I got back in at $491, it came up just into the 5's and then started looking weak again. I really don't want to take another loss on this one so I tried to get out and protect what little profits I still had left. I put in my sell order right at $500 but I only got partially filled, like a REALLY small partial , I got a whopping $15 out from my almost $700 in. It took me a minute to realize this, and when I did I started to get a bit panicked. Luckily for me, before I could modify my order, it turned around and started north again. I got basically the whole move on this one too, it topped at about $534, I was out at $532 for a gain of $55.

 

OK! so all said and done, I'm up $88 on these four trades. Again, I'm not taking things too seriously just yet, I'm really more focused on just getting comfortable with the trading platform, the flow and timing of it all. So I'm actually more stoked on the practice than the profits. Don't get me wrong, I LOVE the fact that right from the start I've been making money and (mostly) not losing it. Thank you market :)  But it's all about putting in that time. I put in a fair amount of time in 2017 learning the strategy, mindset, rules etc. I KNOW I'm going to be multi fucking millionaire, in my mind I already am. Now I just have to put boots to the ground and walk the actual steps to make my bank account agree.

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 22 2017 @ 9:33 pm / (Sell) Dec 22 2017 @ 10:02 pm

EXCHANGE: - Kraken

BUY: - 1.210 ZEC @ $549.00 USD

COST: - $664.29 USD

SELL: - 1.209 ZEC @ $530.06 USD

STATUS: - Trade completed

P/L: - LOSS!!!!   $23.45

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 22 2017 @ 10.41 pm / (Sell) Dec 23 2017 @ 7:43 am

EXCHANGE: - Kraken

BUY: - 1.223 ZEC @ $522.00 USD

COST: - $638.41 USD

SELL: - 1.222 ZEC @ $589.22 USD

STATUS: - Trade completed

P/L: - PROFIT!!!!   $81.62

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 23 2017 @ 3:40 pm / (Sell) Dec 23 2017 @ 4:11 pm

EXCHANGE: - Kraken

BUY: - 1.316 ZEC @ $545.00 USD

COST: - $717.22 USD

SELL: - 1.316 ZEC @ $532.03 USD

STATUS: - Trade completed

P/L: - LOSS!!!!   $17.06

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 23 2017 @7:31 pm / (Sell) Dec 23 2017 @ 8:41 pm / (Sell) Dec 23 2017 @ 10:42 pm

EXCHANGE: - Kraken

BUY: - 1.418 ZEC @ $491.94 USD

COST: - $697.57 USD

SELL: - 0.030 ZEC @ $500.00 USD

STATUS: - Partial fill, remainder open

P/L: - "PROFIT"   $0.25 USD  I can barely consider this profit as it was such a small fraction of my position, but I'm trying to be thorough.

 

SELL: - 1.386 ZEC @ $532.00 USD

STATUS: - Remainder filled, trade completed

P/L: - PROFIT!!!!    $88.06 USD TOTAL.

 

 

For not doing any kind of planning, not factoring news, and basically just trying to scalp anything that looks like a bounce, in a barely regulated buffet of speculation, I'm not doing too bad! Up a little bit, down a little bit, make a few bucks, I'll take it, thank you market. In the next issue I'm back to see an old friend, or arch nemesis...I'm not sure which it is yet.

 

thanks for reading

 

Peace

Alex

Oh yea, one more thing look down there..