Well, the first week of my cryptocurrency trading has come to an end. The DASHBTC, POTBTC and MAIDBTC deals have brought me a little over 0.5 percent of profit. The current balance is 1,006 BTC.
During a couple of days I have been monitoring my cryptocurrencies list and on Saturday I have noticed a signal from the DASHBTC and POTBTC systems. The prices of both coins have experienced corrections and approached key lines. According to my estimations, these are the key lines, where a change of trends should happen, i.e. growth. So I have bought 1 DASH for 0.10375927 BTC and 9000 POT for 0.00001623 BTC each. I have set sell stop orders to limit my losses at 0.09925125 for DASH and at 0.0000153 for POT. The profits are expected to be higher here in case of success. Ultimately, DASH has fallen even lower and the deal has been closed, resulting in a loss of 0.00449675 BTC. However, the price of POTBTC did grow and I have closed that deal at 0.00001726, making a profit of 0.00922779 BTC.
On Sunday I’ve added 220 MAID coins to my portfolio. I have bought MAID practically at the peak, at a price of 0.0001402 BTC, and have set a sell stop order at 0.00013 as a contingency measure. But it seems that I was lucky, and the price of MAID has grown to 0.00015051 BTC. That’s where I sold all the coins with 0.00226277 BTC in profit. That cryptocurrency is currently inside of a flat, so I have decided to execute my deal close to the middle of that sideway movement.
Conclusion
The choice of DASH and POT has been a good one because the prices of those two coins do not really depend on each other. Because of that, the chances of profit were close to 50/50. If the trends of DASHBTC and POTBTC were more dependent on each other, I would have been likely to lose in both cases.
I have calculated the level of dependence of the trends on each other, i.e. correlation using the Pearson coefficient.
These are my first-week results. Feeling pretty optimistic. What do you think? What should I buy next time? Let me know in the comments section.
Live long and trade.
