Swing trading ICX


#121

A quote from a youtuber i watch “The lessons that we learn are written on the tombstones of others”. In your case, the lessons we learn are written on the balance sheets of red trade days. Thanks for sharing the learning experience and knowledge free of charge to us atleast. I do have a few questions. When you buy BNB coins do you pay a fee? and when you “short” a position are you selling from your hodling shares or are you on an exchange that allows you to short sell?


#122

Yeah, not a true short. Just selling off 10 - 30% of my holding typically, depending on how fast she got there. With BNB, its usually me buying a big dip… selling at the top, then re-entering.

BNB coins are at cost. If you have a BNB coin then you pay half of a tenth of a percent. The tx fees are way better than on Bittrex.


#123

ah thought so, was thinking thats the only way id be able to utilize a downtrend, besides buying low. I have a binance acc just havent dabbled since when I was playing it, it was laggy as all hell. Gonna have to pick up some icx seems like its the way to go on there for it though.


#124

I found a way around that… like when XRP and TRX were going nuts, it was impossible to hit market sell when RSI was oversold, cuz everyone was dumping at the same time. Well if you use the Binance APP and track using Trading view, you can get around the lag. Be very careful with the fat fingers… I made a pretty costly mistake fat fingering a buy.


#125

Nice experiment! Did you get around to look at the tax implications of your day trades?


#126

@sam-crypt, thought this might be of interest to you.


#127

Hey @Kenny_K! Can I get a copy of that template?


#128

Sold all my ICX @ .000640, Looking for a correction to about .0005800 and then some sell off no later than Friday to .00056 Where I’ll buy back in. (Buying back in on Friday no matter what).

Lets see what happens. Betting against my favorite coin… feeling naked here as she keeps going up lol.


#129

11 days ago, you posted this: “I mean, I’m not messing with my position in ICX”

Seems like at this point, you are getting desperate to beat your HODL portfolio that you actually sold your original position, which violated your original principle.

Don’t get me wrong, I admired what you are doing and have been following you, and really liked your candidness. But remember, a while back, I posted saying that:

You got it pretty well covered conceptually. But practically, it is implausible to be CONSISTENTLY successful with swing trading. If it’s that simple or achievable, everyone would have done that. The fact is that many have tried, and only ended up getting burned.


#130

Agreed…

Although the initial reason I started this experiment was because of the early $8 run up of ICX and correction. This is literally the moment I’ve been waiting for. If feel obligated by principle to make this move. I think it’s theoretically sound, because I will have the same amount of ICX by Friday. It may cost me more… but there’s more of a chance that it will cost less.

I’ve made a lot of course corrections during this experiment. This is one I can live with if it goes bad. Thanks for keeping me honest though!


#131

Cheers man! Thank you for being candid and polite, without feeling defensive about it.
I truly admired your open sharing and everyone is learning from your little experiment.

The good thing is that we are all still SO EARLY in the cryptospace and we are all heading to the :full_moon: with many :rocket: :bitrocket: :rocket: !!!


#132

Corrected to .0005800 already… still not buying in though… Going to wait until the .00056 like I stated… That was fast!


#133

Data Dash , just uploaded a 20 minute interview with a tax professional that deals with Crypto on his you tube channel. It seriously answers everything. Give it a look!


#134

Yep, seen it! Still it would be interesting to see the actual numbers related to day trades. Sure, after all it’ll only make sense when you have to get all your ducks in a row including possible losses. But some of the short time trades will take hard tax hits.


#135

Thanks!!!


#136

ICX is too strong…, Gap should close if ICX ever stops to take a breath. But at this point, I almost think I should sell my first born son for more ICX… ridiculous. I’m never better against it again lol. Once I buy back in here, my goal is just to get more ICX… NOTHING ELSE… sounds ridiculous, but, it’s definitely proven itself. I was speculating $10 by June… not by EARLY JANUARY… JEEEEZ!

This is kind of embarrassing, but its a good experiment. I still think I can catch up, as long as ICX doesn’t start blood doping or something…

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#137

Yeah I was thinking $10 by mainnet launch, $20 by end of Q1. I’ll probably be way off!


#138

I’d say… if I don’t get to 150% the profit over the HODL portfolio, it will not have been worth it. Just because of the sheer amount of time it takes. The funny thing is. I’m still optimistic, because… my strategy is getting cleaner. Only a matter of time where ICON goes in to a hibernation… (or not, based on what we’ve seen. lol) and I can keep getting gains.

I acknowledge I’m getting crushed at the moment, I can’t believe I accidentally built such a balanced HOLD portfolio on accident lol.


#139

OK… I made this… Going to stop being a cowboy and stick to the plan… If I can manage to increase shares, eventually the HODL portfolio will be crushed!! lol.


#140

Hah i still believer of swing trade. Go for whatever suit your nature. Live FREE BEAT that hodl :smiley: