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RE: Tonight's Trade

in #cryptocurrency6 years ago (edited)

I have been rigorous in writing up all my trades, big and small. I have learned a lot as a result and I now have a great library of material to go back to check my thinking.

Keep going

As to the trade idea, I have a thought. Analysis of XLM vs USD looks solid enough. I do worry about the validity of technical analysis when there has been a price spike like we saw earlier this year. I put MACD on the chart and there is bullish divergence (MACD made higher lows while price was producing level lows).

My thought was the winning trade was much more pronounced if you then traded against ETH or BTC rather than USD. In fact you would be looking for the exits using Stochastic or RSI as the indicator (Stochastic on my chart)

Aug11XLM.JPG

In fact, my trading bot has made 9 winning trades on XLM since Friday trading against ETH. That tells me that my exit point is too low - could have been in longer and paid less spread and fewer fees.

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I don't use trading bots, but I appreciate your insights. I followed you. Thanks for sharing.