Hello again,

 

Alex (goldlotus) here with another set of trades on XRP. I keep coming back to this one I guess because it is most similar to trading a penny stock, which is what I've been learning to trade, just not actually traded yet. XRP still has a low price, under $4, there's enough liquidity on the exchange I use (Kraken) and it's from a real company with products and customers. The company (and sector) is also new, their future is still highly speculative and their XRP tokens' value is greatly debated. As Kraken is the only exchange I have traded from so far, I'm really only paying any attention to what is available on that exchange. I am now getting familiar with the software and putting in orders, it's not nearly as intimidating anymore, thankfully.

There were a total of 6 trades on this spree, only 1 "decent" one. Here's the overall picture.

 

Lets look at the chart below for the first 4 trades.

 

 

We're already in "new high" territory at this point so anything is possible. My first entry was at $1.40 with around 536 XRP for $751 (I'm still going "all in" on every trade for now). It only went up about 0.06 cents and then dipped a bit, I'm starting to be a little more nervous with XRP so I got scared out at $1.41 for a $5 gain. A few hours later I was back in at $1.49, it eventually broke through the $1.50 mark quite easily and continued upward reaching a high of $2.37. I rode the whole move up to the top and over the other side getting out at $2.28 ! This was a nearly $400 gain!!! My biggest single win yet!! Happy dance, little pat on the back for myself.

But I'm an itchy, greedy, little noob trader... and I want more...

We got a pull back all the way to $1.80 and I wanted to play the bounce! I think a lot of other people did too. I was trying to put in an order right at $1.80 if I remember correctly, but I kept getting timeout errors. I tried a few more times as the price rose but my software was hanging and I had to exit and reload it twice. By the time things stabilized the price was back up over $2.00, I managed to get in at $2.10. On this one I was just the green eyed monster greedily expecting it to keep going higher despite being way up already. I should have gotten out at $2.40 (thanks Captain Hindsight) but I wanted to wait out the dip and see more upside. The gamble didn't pay off. I watched my gains almost entirely slip away, almost. Had I gotten out before it corrected I could have been up another $195. Instead I got out at $2.16, for a small gain of $31. This dip had come down to $1.95, well below where my last buy in was. This made me a little weary, but not too weary to get back in at $2.14. We got about $0.13 cents of upside and then down again. I got out at $2.10 and took a small loss of about $21.

 

Here's the last two.

 

 

Still not done, at this point I'm just buying anything green and hoping it's a breakout, like a noob. So my next buy is a few hours later, about 592 XRP @ $1.95. It was up $0.08 cents but then down again, I got out at $1.89 for a loss of $40. Back in again! at $1.85, only $0.05 cents of upside this time before coming back. I got a little over 30% of my position out at $1.859 for a small $2 gain and then the rest out at $1.843 for a loss of $2.70.

 

- TRADE DETAILS -

DATE: - (Buy) Dec 28 2017 @ 8:11 pm / (Sell) Dec 28 2017 @ 10:04 pm

EXCHANGE: - Kraken

BUY: - 536.533 XRP @ $1.40 USD

COST: - $751.146 USD

SELL: - 535.14 XRP @ $1.41398 USD

STATUS: - Trade completed

P/L: - PROFIT!!! $5.53

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 29 2017 @ 12:52 am / (Sell) Dec 29 2017 @ 6:02 pm

EXCHANGE: - Kraken

BUY: - 506.5 XRP @ $1.49 USD

COST: - $754.68

SELL: - 505.705 XRP @ $2.28 USD

STATUS: - Trade completed

P/L: - PROFIT!!!!   $398.33  My biggest single gain so far

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 29 2017 @ 7:11 pm / (Sell) Dec 30 2017 @ 1:44 am

EXCHANGE: - Kraken

BUY: - 548.171 XRP @ $2.10 USD

COST: - $1151.16 USD

SELL: - 547.296 XRP @ $2.16 USD

STATUS: - Trade completed

P/L: - PROFIT!!!!   $31.00 even, and that makes 3 gains in a row!

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 30 2017 @ 2:44 am / (Sell) Dec 30 2017 @ 3:52 am

EXCHANGE: - Kraken

BUY: - 550.973 XRP @ $2.15 USD

COST: - $1179.08 USD

SELL: - 550.093 XRP @ $2.105 USD

STATUS: - Trade completed

P/L: - LOSS!!!  $21.14 there goes my streak

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 30 2017 @ 12:29 pm / (Sell) Dec 30 2017 @ 1:14 pm

EXCHANGE: - Kraken

BUY: - 592.867 XRP @ $1.95 USD

COST: - $1156.09

SELL: - 591.92 XRP @ $1.885 USD

STATUS: - Trade completed

P/L: - LOSS!!!!   $40.41 two losses in a row

 

 

- TRADE DETAILS -

DATE: - (Buy) Dec 30 2017 @ 1:36 pm / (Sell) Dec 30 2017 @ 2:25 pm + @ 2:42 pm

EXCHANGE: - Kraken

BUY: - 601.269 XRP @ $1.85 USD

COST: - $1112.35 USD

SELL: - 214.631 XRP @ $1.859 USD

STATUS: - Partial fill, remainder open

P/L: - PROFIT!!!    just $1.93 on this part

 

SELL: - 386.280 XRP @ $1.843

STATUS: - Remainder filled, trade completed

P/L: - LOSS!!!!     $2.70, this brings the TOTAL LOSS!!! for the trade to just $0.77 cents, my smallest one yet.

 

So all said and done I'm up $359.77 on this round, that's awesome! THANK YOU MARKET!!! :) This has really moved the needle on my small account!! Now I definitely have some over trading to get under control. Making sure to look at the longer time frames will help with this so I can see when I'm playing into the back side. As I write this I have even more trades (with XRP as well) under my belt and I can feel that I'm getting the FOMO out of my system. I now feel like I can sit back more and wait for the right setups to come to me, "sniping" them just like Tim always talks about.There's a few more to go until I am caught up. Once I am, I will try and write future blog posts while I am in the trade so that the details are fresh and everything should be much more accurate and in depth.

 

This brings us to the end of 2017 and my first month in the trading world. It's been a roller coaster of a month for both me and the markets but overall I'm up about double my original investment! That's a great start, I'm super happy about it and really excited for 2018. The next issue will just be a quick recap of 2017 but then after that one we'll be back into the trades so stay tuned.

As always, thanks for reading

 

Peace

Alex