Lixt Trading Journal

[Lixt]

Hi guys, I'm using this as my trading journal because I want to keep a coherent collection of my screenshots and thoughts. Here I will record and review every trade I do, no matter how trivial or routine, as there is always something to learn from every trade.

Who I am:
I am a cryptocurrency daytrader. I bought my first bitcoin in January 2017, and finally started daytrading in February 2018.

My Motivations:

• Money.
• Competition: beating my fellow man in the modern-day field of battle. I thrive on this.
• Money!!!!!!

Mission Statement:
I will do what it takes to become the best at what I do. I will become a better trader than my two trading rivals. I will become a better trader than the one I was yesterday.

What kind of trader am I?:
I trade BTC pairs. My goal is to build my BTC balance. I do two kinds of trading: daytrading and swing trading. My daytrades last at most a few hours. My swing trades last a few days, maybe a week or two if I make a big mistake.

My Weaknesses:

• I get angry when things don't go my way.
• I do not review my trades enough, nor do I try hard enough to improve.
• I get complacent when I have long winning streaks.
• I get bored when the market is quiet and I take inadequate trade setups.

My goals:

• Long term: Become a better trader than my rivals.
• Short term: make 0.5% profit per day on my account.

My Tools:
I use Tradedash to trade on Binance.

Here is my BTC balance for the past few months. I have only recently started recording my daily balance. You can see where I was inactive due to being on a cruise ship for a month
https://i.imgur.com/f4jZKMu.png

I'll update that chart every month or so.

[Lixt]

My most recent trades, including multiple big mistakes.

XRP failed daytrade. My charts froze for 2-3 minutes, and when they started working again, BTC was dropping fast. In this trade it was critical to keep an eye on BTC's movements. Additionally, I was way too overconfident in this trade, I didn't sell any on the way up, forcing me to be patient and turn this into a position trade. Time to zoom out!
Lesson Learned: If your tools fail and you cannot see BTC's movements, get out ASAP.
Lesson Learned: Play the bounces, always!
https://i.imgur.com/rhpPzyc.jpg

Later, I still haven't played any bounces. There is a very very high chance that XRP will return to $0.40, however, overconfidence is no excuse for sloppy/lazy trading.
Lesson Learned: PLAY THE BOUNCES.
https://i.imgur.com/wge0ZWS.jpg

OST daytrade, failure to reposition. This trade was a disaster, as I was trading tired and wasn't thinking clearly. I bought the support far too late.
Lesson Learned: Do not trade tired. Constantly practice your repositioning, and watching the books. Get better at spotting the momentum reversals.
Lesson Learned: IF YOU MISSED THE BOUNCE, DON'T TRY TO FORCE IT! Especially on new exchange listings!
https://i.imgur.com/bMdM2aN.jpg

[Lixt]

Wow, this is a big one Ripple is absolutely tanking, under strong historical support. I'm in with a huge percentage of my cash, and it keeps on giving. When the market sentiment changes and I get out at $0.40, this may be my biggest position trade yet.
https://i.imgur.com/CcgHUqw.png

My breakeven is now $0.338, and I'll be playing any bounces it gives me in the meantime. Hopefully this trade concludes by the end of the month, I gotta pay taxes soon!

[Lixt]

Alright, market sentiment seems to be recovering a bit today. Time to start participating in bounces. I'm selling my bottom layer so that I can have more bullets to fire in the event we get another nice panic.
I'll be doing this all the way back to 40 cents on XRP. Doing this will lower my breakeven, allowing me to survive indefinitely:
https://i.imgur.com/U3Cr6om.png  (pink line is my breakeven price)

Daytrades have been very slow during this market panic, all eyes are on Bitcoin.


**************************************
Edit:
**************************************
Not crypto related, but I'm building an Equity Millipede on the forex market. AUD/USD seems to be in a nice downtrend so I'd like to capture that momentum by placing low-risk short positions. I'm using a demo account to learn how to place low-risk entries. My current strategy is betting with the momentum at support and resistance areas (round numbers, recent hourly s/r). So far it seems to be working out but it's only day 2. This is a long term strategy, but i'd like to give it a try on lower timeframes as well to derive a short-term income from it. I'll start diversifying at about 200+ pips, according to historical trend sizes on this pair.

Lesson Learned: The better the trend/momentum, the easier and more low-risk your entries will be. I think the most important thing to be looking for is good momentum. Avoid ranges at all costs.
https://i.imgur.com/YGIfhdr.png

[yanto@1977]

Hi guys, I'm using this as my trading journal because I want to keep a coherent collection of my screenshots and thoughts. Here I will record and review every trade I do, no matter how trivial or routine, as there is always something to learn from every trade.

Who I am:
I am a cryptocurrency daytrader. I bought my first bitcoin in January 2017, and finally started daytrading in February 2018.

My Motivations:

• Money.
• Competition: beating my fellow man in the modern-day field of battle. I thrive on this.
• Money!!!!!!

Mission Statement:
I will do what it takes to become the best at what I do. I will become a better trader than my two trading rivals. I will become a better trader than the one I was yesterday.

What kind of trader am I?:
I trade BTC pairs. My goal is to build my BTC balance. I do two kinds of trading: daytrading and swing trading. My daytrades last at most a few hours. My swing trades last a few days, maybe a week or two if I make a big mistake.

My Weaknesses:

• I get angry when things don't go my way.
• I do not review my trades enough, nor do I try hard enough to improve.
• I get complacent when I have long winning streaks.
• I get bored when the market is quiet and I take inadequate trade setups.

My goals:

• Long term: Become a better trader than my rivals.
• Short term: make 0.5% profit per day on my account.

My Tools:
I use Tradedash to trade on Binance.

Here is my BTC balance for the past few months. I have only recently started recording my daily balance. You can see where I was inactive due to being on a cruise ship for a month


I'll update that chart every month or so.

Making a journal is very good decisions, from there we can get many value to support and develop our skill into the best. Most of us will never do that because they believe their memories is enough to saving their history, that's wrong. I'll make time to do the same and I hope get better result to change my style.

[Lixt]

Making a journal is very good decisions, from there we can get many value to support and develop our skill into the best. Most of us will never do that because they believe their memories is enough to saving their history, that's wrong. I'll make time to do the same and I hope get better result to change my style.

Thanks Yanto, I agree that journaling is extremely important so we can look back and discover our consistent mistakes. Looking forward to seeing you improve in the future!


Today is another slow day, just waiting for the market to make a decision. Recovery or another panic? Nobody knows. But whatever happens I'll be profiting off it

XRP trade: I sold off another small chunk. When I see green candles I can't help myself, I need to sell
I'm going to hold the majority of my XRP until $0.40, but I'll play every bounce it gives me. I'm happy to see it plummet again because now I've got some more ammo to fire:
https://i.imgur.com/ahVO9vf.png

The crypto market is a blessing! Panics are so easy to profit from.

*********************************
Forex Equity Millipede (Not crypto)
*********************************
I'm studying up on pipEasy's methods. I'm suffering from drawdown in my early stages of building my positions. Immediately I can see that I am too eager to attempt to add positions when the market isn't in a strong trend. The basis of the strategy is to ride the trend. If the market is ranging, entering frequently will kill my account due to constant drawdowns. I think I already need more patience. I'm expanding into the GBP/USD and EUR/USD charts because I can see a downtrend in both charts. Unfortunately I think the downtrends are slowing down as the recent US dollar's rise is slowing down. For now, the aim of the game is: find strong trends, avoid participation in ranges.
Lesson learned: Avoid ranges, find strong trends.

[Lixt]

A little bit of action on ONT today. I'm disappointed with my daytrades today. I missed a lot of action due to indecision and being away from the PC.
Lesson Learned: When you see action, work it! Don't miss out on good opportunities in this slow market.
https://i.imgur.com/2T6AcBj.png
https://i.imgur.com/Su5UMJI.png


Edit: Here's the progress of my XRP position trade. Still not in profit, but the chart is looking great. I've been selling off small chunks (only 4 or 5% at a time, just in case we get another panic), but my main chunk will be sold at 40 cents.
https://i.imgur.com/1V1OSm5.png

[joniboini]

It would be nice if you make this thread self-moderated and actively delete the spam post being posted here. I believe your thread will become a spam-fest later on and eventually got locked or trashed by the mod. If you don't want to create a new thread, be sure to actively report any spam post posted here.

[Lixt]

It would be nice if you make this thread self-moderated and actively delete the spam post being posted here. I believe your thread will become a spam-fest later on and eventually got locked or trashed by the mod. If you don't want to create a new thread, be sure to actively report any spam post posted here.

Thanks Joniboini. I'm new here, is spam a common thing? Or do you just mean possible internet trolls?

[joniboini]

-snip-
Thanks Joniboini. I'm new here, is spam a common thing? Or do you just mean possible internet trolls?

Welcome to Bitcointalk. Yes, spam is a common thing, a chronic problem here because lots of people are trying to get paid for a signature campaign without thinking their post quality or running their ann bumping services. I suggest you browse at Bitcoin/Altcoin section, you'll see it by yourself.

So how's your trade today? The market is green, gaining 20% profit is easy if you bought coins yesterday, especially VET.

[Lixt]

Welcome to Bitcointalk. Yes, spam is a common thing, a chronic problem here because lots of people are trying to get paid for a signature campaign without thinking their post quality or running their ann bumping services. I suggest you browse at Bitcoin/Altcoin section, you'll see it by yourself.

So how's your trade today? The market is green, gaining 20% profit is easy if you bought coins yesterday, especially VET.

Thank you for your kind words Joniboini. I'll be sure to keep reporting the spam away.
Thanks for asking about my trade, it's going really well, we're right on track for 40 cents XRP I hope your trades have been profitable lately!

https://i.imgur.com/mVMXv8n.png
Learning to be patient with position trades, as they can take weeks. So far I've only been selling tiny amounts, but I will be selling bigger chunks when we hit 38 cents. My last chunk will be sold at 40 cents.



No daytrades this weekend as I was visiting family in another town. Looking forward to a week of profits

[Lixt]

I haven't been active much lately, I've had a few social obligations to attend.

I had some daytrades today! And NANO is still going as I type this

https://i.imgur.com/I2SGJEr.png

My XRP position trade is still going extremely slowly. At this point I'm looking to get out with any decent amount of profit. If it goes back to 35 cents I'll get out completely. I've already sold the majority of my position in profit, so I'm perfectly fine if it decides to tank again. Not as much profit as I'd hoped but oh well, that's trading