Well, here I am writing my first blog post ever. Before we start I'd like to apologize for all grammar errors upfront as English is not my native language.
This blog will feature my trades, strategies, trade analysis, profits, and losses. No financial advice, of course. This is for your entertainment and for my future self, so I can look back at me doing me.
About me:
Let's start with a little info about myself. I am a 21 years old mechatronics student from Germany and I've been exposed to crypto years ago. It was probably between 2015 and 2016 when I first owned some Bitcoin to buy and sell digital goods online, we're not gonna get into that any further though. I've made my first trading experience in 2017 if I remember correctly. I tried to trade currency pairs which led to me losing ~ $650, mainly because I was literally only trading news and not looking at the charts at all. After that loss, I wasn't exposed to trading anymore until the start of 2021. I have watched a few crypto trading videos on YouTube and decided to get back into trading and especially chart analysis.
Recent trades:
Alright, we're gonna look at my last few trades now and try to analyze what I've done right/wrong.
Then I patiently waited for a retest of the previous resistance line to make sure it would act as a support now. When the retest happened I set up a limit buy order at 25.650 which eventually got triggered. When I came back to check my order I saw the price went up to almost $27, but LINK was having a rough time breaking that and at that point, I didn't realize why so I closed 50% of my position with a profit of $57.7.
When I checked the BTC/USD chart I saw why LINK was having trouble breaking $27. Huge BTC Shorts were coming in that night so I decided to move my S/L into profit at 26.698 and go to sleep.
After waking up I saw my trade was closed with a profit of $45.3. After that LINK continued to drop further to around $23, so my trade would not have survived that and I was really happy with where I placed my S/L.
Summary:
I was feeling really good about my decisions that day and the day after, even though I FOMO'd into that first Long position and luckily closed it in profit. I've made a few bucks that day and a little profit is always better than now profit or a loss. If you never realize your profits they're not profits.
You really have to wait for good entry points like resistance, support, retests, etc. Don't rush into trades and always realize some profits.
Closing words:
I hope you all enjoyed my first blog post. Let me know if you have any wishes, tips, or topics for future posts and trades. Also let me know if you have any tips for me regarding blog posts, my writing style, or found grammar errors!
Thank you for reading, I wish you a nice rest of the day and hope you enjoyed the read.
