My aim with this blog is to be completely transparent about my trading journey so that others can see the REAL trading and investing experience of a beginner.
Holding the new crypto funds as euro’s for now…
Total Invested £3360.00
(Plus holding £750 in Euro’s – €850)
Unrealised balance £2984.93
Forex/Indices/Commodities – Trading using FXCM
- NAS100 – Long (TJ) – TSL
- NZDUSD – Short (S/R)
Not much trading done today due to other business to attend to.
NZDUSD S/R analysis: I took this trade as it showed great price rejection at a strong support with two consecutive bearish pin bars (Blue arrow) at a time where US news created a weak USD.
I set a short entry order in just below the marked resistance level and was triggered on a re-trace. I put the Stop Loss in a very safe position just above the highest wick of the first recent bearish pin bar. I’ve set a target at 0.7070 level, just above the marked green line. Price may continue lower to reach the previous lows, but I will monitor and decide what action to take nearer that price level.
GBPCAD S/R analysis: I’m continue to monitor this pair for practice and I’ve not entered into this trade.
This pair gave some good long signals on a TJ setup, however I didn’t take any due to it reaching a strong level of support. I thought it may actually be a better option to short the pair instead. So, I’m following the price action to see how it plays out.
It pushed above the resistance level and closed. However, on this day the GBP had a boost and GBP was strong over other currencies on most pairs. This can “blip” a chart where it may temporarily indicate a break in resistance. I like to think of resistance lines as elastic. So, where the boost may have shot the price further up, the elastic only served to bring it back down again. A bearish pin bar (indicated) serves as a great indicator for added confirmation (and retracing off previous trend line support).
USDJPY analysis: Another pair I wanted to keep an eye on at a key level of support. This also gave some great short TJ signal and at a time where the USD was weak due to news. But, approaching this level of support, I was cautious to go short so stayed clear.
However, like GBPCAD above, I wanted to monitor price movement for practice. So, I expected that the USD weakness shouldn’t last too long. This level would hold the price there and if the USD weakness continued then it may possibly break through. If the USD found some strength again, then this should serve as the level where it will head north again.
Total Invested £1000.00
Unrealised balance £1001.74
My coins held:
- Cardano (ADA)
- NEO (NEO)
- NEO GAS (GAS)
- Ethereum (ETH)
- Life (LIFE)
- Po.et (POE)
- SteemIt (STEEM)
- Steem Backed Dollar (SBD)
- Tronix (TRX)
- Binance Coin (BNB)
Unable to trade at this time
- Quoine (QASH)
- Hshare (HSR)
- Experience Points (XP)
- Verge (XVG)
- Qtum (QTUM)
You can see my public portfolio on at: http://bit.ly/EXFCryptoPortfolio2
I sold a number of small altcoin holdings yesterday back to BTC which I then exchanged for Binance Coin (BNB)
I’ve also received my Euro’s ready to invest further into altcoins. However, there’s a bit of doom and gloom hanging over the crypto world right now, mainly due to Bitfinex and their USDT “money printing” and auditors walking out. This “money printing” could have been falsely bumping up BTC’s price in which case, if/when Bitfinex falls, BTC could take a tumble and take all other crypto’s with it (BTW, if you have anything in Bitfinex, my mentor and lots in our support group recommend getting it out… very soon!)
So, my euro’s will be waiting for a price fall to happen and I’ll buy up some crypto’s at super cheap prices. The coins I currently have? I’ll be hodling onto them. Some, like TRX and ADA are sitting at a loss, but that’s only true if I sell them back. The long term outlook is good, so even if the fall further short term, I’m expecting profit once the market recovers.
Currently, my Altcoin value to Bitcoin value puts me at about 21% Profit.
However with Bitcoin Value down across fiat, I’m looking at about -14% loss (GBP)
Total Invested £2260.00
Unrealised balance £1884.41
IG.COM shares spreadbetting
- Evraz PLC (long)
- Thomas Cook Group PLC (Long)
All equities and markets seemed to drop today (US, UK, Europe & Japan) so my two very small positions here weren’t expected to see much growth. I’m happy that while they’ve barely moved, they have stayed in the gree today and not took any loss as the markets weakened.
Total Invested £100.00 (removed some funds for cryptos)
Unrealised balance £98.78
Connect with me…
Email me: email@example.com
A boring disclaimer… coz I don’t wanna be sued and stuff!
The information contained within this blog/website and any information contained in any social media account related to EXF Trading is intended for interesting reading only.
I am not qualified or considered an expert in any aspect of trading and the words which I write are my opinion only and not to be considered correct.
If you trade based on any of my information, you do so at your own risk.
I urge you to do your research and make your own conclusions before considering trading.
You are responsible for your own trading actions.
I may provide affiliate links to courses or products I do or would recommend and I may or may not receive a small financial payment for those links.