I didn't put this in a formal trade notice so, one to add to today's trades is that I upped my stakes in Ripple (XRP) on 3 Nov, owing to Teeka Tiwari touting it in his webcast last week. I had 250 XRP at 19.5 cents and added another 750 at 21 cents for a total stake of 1,000 coins.
In addition, I abandoned my try to get ZenCash (ZEN) for cheap but because of all the activity surrounding it owing to the webcast and Patrons sleuthing out what was for sale for a $2,500 subscription, I'm willing to chase this trade for a while, see if it trends down. So, I have a cascading set of three limit orders on the Bid Book at Bittrex.
If you don't understand what I'm doing there, try to give it a guess in comments, and I'll elaborate more. Remember, we're doing education here and it's not just about crypto, but a bit of basic trading philosophy and chart feel, much of which just comes from looking at them for so long.
For example, here's a bit over 2 months of ZEN.
Each candle is a 24-hr period. Green means it was up from the previous period, "opened" at the bottom of the green area and "closed" (crypto never closes, unlike the NYSE) at the top of the green area. Red means it was down from the previous period, opened at the top of the red area and closed at the bottom of the red area. The wicks above and below the solid area represent actual closed trades over the period that were outside the opening and closing range.
As you can see, I've drawn some lines. This is just basic "feel it" chart "analysis." Markets of all sorts tend to trade in channels—except when they don't—when trending up, and when trending down. Of course, the bigger unknown, beyond expecting it to trend down and not break out is that even if it does trend down, where is the top of point #2, right where that green price indicator is pointing to? I don't know.
You might have noticed the big increase in candle length prior to Teeka's webcast. That's volatility. Look at the greyed-out vertical volume bars. In general, way bigger than historical average volume, way longer than historical average candles and wicks.
So, now, you might see the logic behind my limit orders. It could end up being all wrong. But if it is and I throw in the towel after a couple of days and just punt, I'll end up having lost opportunity of minimal bucks from where I could just get in at market right now, close to the same 20 coins.
But, all of us are different, and we all have different time preferences, cost preferences, and punch-it-now enthusiasm. Because this is an educational and theory-to-practice pursuit fueled by patrons, some of my trades ought to be done the hard way just to demonstrate one way to do it, for those into wringing out every last drop of value from any trade that they can.
Oh, one last thing. NEM (XEM) was a stake increase. I doubled my stakes from 150 to 300 coins. Decred (DCR), VertCoin (VTC), and Waves (WAVES) are all new additions to the portfolio, as will ZenCoin (ZEN) be, once I manage to win a darn limit order! Or, I'll punt.
So, why those three new coins out of the blue, taking grub stakes? I just looked at the Coins List at CryptoCompare, sorted high-to-low by the Volume 24H column, and went down the list, picking up the highest trading volume coins I didn't already have, until I ran out of money. Picking up $20-50 grub stakes like this is my way of putting an altcoin on a "watch list."
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