KEYBTC | 15M | Heikin Ashi Candles | Using Fib retracement tool

٢٩ أكتوبر ٢٠١٨

Fib retracement tool training for me. Lets see how lessons learned from Crypto Choe's tweet works out.

Entry: 122 sats

Exit:
Target 1- 125 sats = .236 = 2.50%
Target 2- 131 sats = .382 = 7.32%
Target 3- 135 sats = .5 = 10.79%
Target 4- 140 sats = .618 = 14.45%

٢٩ أكتوبر ٢٠١٨

ملاحظة

Patience. Price back to retesting my first target. lol KEY don't fail me now

٢٩ أكتوبر ٢٠١٨

تم فتح الصفقة

darn, out of the 4 coins watching, IOTX launched off. hoping #KEY is next. I have my targets set.

٢٩ أكتوبر ٢٠١٨

ملاحظة

Target 1 reached. 125 sats 2.5% from my entry

٢٩ أكتوبر ٢٠١٨

ملاحظة

Target 2 reached. 131 sats. Over 7% profit

٢٩ أكتوبر ٢٠١٨

ملاحظة

If you're in position waiting on target 3, it may not hit so set SL to catch the drop with the rest of your position. Close it out and move on to the next one.

٣٠ أكتوبر ٢٠١٨

تم إغلاق الصفقة يدويًا

So after our first fib retracement training session, heres the results:

Entry: 122 sats
Exit:
SUCCESS Target 1- 125 sats = .236 = 2.50%
SUCCESS Target 2- 131 sats = .382 = 7.32%
FAIL. Target 3- 135 sats = .5 = 10.79%
FAIL. Target 4- 140 sats. = .618 = 14.45%

Observations:
-This day trade took about 7 hours to develop.
-First 2 targets reached once volume picked up.
-3rd target missed by 2 sats. Reached 133, target was 135
-once I noticed price hitting resistance, cancelled targets 3 and 4, set SL to fill the remaining positon.

Lessons learned:
-took position too early. Price dropped another 5 sats. Every 2 satoshi increase was about 2.5% profit missed.
-never use 100$ of capital. Save some to dollar cost average down.
-hop in when the trend changes, not when price reaches a certain fib level. Never know if price will keep dropping.
-set sell targets under the fib levels. Assume everyone including bot programs are also using the same fib levels.

Thank you if like that I conduct backtests and live tests to check analyst trading styles, let me know.