Trading in April week #2

It’s the second week of April and this time it was not as good. Quite a few losses. Let’s go through them.

First trade I opened short on Monday 10th of April at 8:49pm at 29185 USDT and I closed half of the trade at 11th April at 8:29pm 30079 USDT for a loss of 3.06%. My logic behind opening this trade was that the BTC price has gone up ~6% and has been above the resistance line of 29k. So I thought it would do a quick retrace, but it never did, it just kept on going to another ~6.5% up at 14 April where it then finally peaked and started moving down.

Right after that I opened another short on BTC at 8:29pm 30078 USDT because I again thought this was the top, but I was wrong again and I had to closed half of this one at 15th April on Saturday at 30394 USDT for a loss of 1.05%. I mainly closed this trade because I wanted to get into another trade and I had all the funds in this trade already so I had to liquidate.

So I’ve got into ADA shorting it, because it has flown up a lot more than the rest of the coins so I thought it will drop off quite quickly, but it kept going up 3% more so I just had to keep going and hope for the retracement, but that didn’t come this weekend.

See also  Is It Time to Get Excited About Crypto Again?

Overall a very bad week for me, some of the losses were not as bad because I closed only half of the trades on those and kept hoping the whole crypto space would retrace. My thinking was that the 1h, 4h 200 EMAs were just too far from the price that was shooting so up, so I bet on the retracement. Unfortunately it didn’t work out this week, but in the next one it hopefully will.

Total trades: 2

Total profit: -4.11%

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *