Seeing the current price of BCH is really depressing if you saw it's last high last May 2021 which is $1600+ and currently it's only trading below $120.. it's it depressing right? Especially for us shrimp who holds our BCH since from the beginning when we decided to hold it hoping it will reach to $2000 which is the sell wall I've set to take profit.
Much more those investors who bought at the all time high at $4k, probably they believe that BCH is really a shit coin and slowly rugging. Even Marc Demesel had lowered his exposure with BCH, and most of the whales maybe left BCH at the moment.
Earned 0.65 BCH in trading for 5 days
Instead of getting depressed by the price of BCH lately, I decided to trade some of my BCH. Last June 16, I sent my 4 BCH to Binance..I made the transaction during dawn time and it arrives on my wallet after 20 minutes I think, so I set my sell limit right away.
I still have 0.537 BCH left in my account for cashing out purposes but since the price is too low, I just added it on the total capital of BCH to trade. I sold all of it at $130, that gives me $589.80..
Then I waited for the price to go lower, I set my buy limit at $119.70 and that gives me 4.92 BCH with that $589.80.. which means I already gained 0.383 BCH with that single trade. It was actually the biggest successful trade I made.
I have several quick trades from other coins but I won't include it anymore, the next trades are just quick and got little profits because I failed to monitor charts as I was busy running errands in preparation for my wedding.
Above was the second buy limit that was filled, I won't include anymore my sell limit as I just want to highlight how I have grown my BCH sats. From 4.92 BCH last order it increase 0.07 BCH making 4.99 BCH.
I have several opportunities to buy at lower price when BCH plummet at $106-$109 but I was too scared to buy because that was the time BTC drops badly below $18k and I was thinking if BCH will also drops below $100. I could've gained higher sats if I bought at that range, but I just did what I think is safe. It's hard to gamble when BTC is getting crazy.
Then yesterday, I've grown it into 5.042 BCH from 4.99 BCH, it means I added another 0.05 BCH.. it was just a little because I bought at not so low price and my gains sometimes usually play around $5-$10 only..but I don't mind coz profit is profit wether it's small or big amount. Overall total of my sold BCH was at $606..
Then today, my buy limit at $116.9 was filled and that gives me 5.192 BCH with that $606 amount.. I gained another 0.15 BCH from the last buy that was only 5.04 BCH.
In Summary;
I earned 0.65 BCH in total, I have grown my 4.53 into 5.19 BCH; below is the breakdown.
0.38 BCH
0.07 BCH
0.05 BCH
0.15 BCH
= 0.65 BCH traded in 5 days
As you can see I don't have any entry at June 17-18, I was very busy that time.. if only I bought at $106-109 range I could've gained more, but as I've said I'm Still A Failure in trading I am not a master trader yet..as most of the times when I sold it goes higher and when I bought it drops lower lol. Sometimes I'm too annoyed with my trades but seeing the total BCH I accumulated, I am relieved at least I still manage to gain more sats.
0.65 BCH at current price of $120 is worth $78, or 4,134 pesos at 53 PHP per $1.. if I divide it in 5 days, I got 826 pesos earnings per day in trading which is already a very good amount, higher than the minimum wage earner in our country.
Buy low and sell high strategy
When doing an entry, I watched at the 5m using Bollinger Bands and RSI14. I am also trying to understand the volume and price actions lately but you know I'm still not good with it, sometimes my entry and exit are always affected emotionally which I have to tame it so I can be a better trader later on.
I don't mind if I made small profit as long as I follow the rules to buy low and sell high.
When I replenish those BCH I sold lately I'll diversify my portfolio using my BCH holdings.
I didn't trade all my BCH because I am aware that not your keys, is not your coin and I'm breaking up with crypto but will not leave crypto.
I lack sleep sometimes because I am watching the chart, but you know that's the perks of earning 826 pesos a day lol.
I am striving hard to earn because my partner is already signed off and we don't have any source of fiat this time. Financial struggles again, knowing we're preparing for our wedding.
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Date Published:
June 15,2022(Article#:11)
Woow congratulations ateee. if only I have the means to do trasing right now. But my wallet is empty because I hve to convertmy earnings for my graudation fees hahaha. Anyways , better luck next time for me.