Hello everybody and welcome back to this weekly rookie report. After boasting a glorious 55% gains last week than we’ve hit ground zero by Christmas due to some very common rookie trader problems:
- FOMO – Fear Of Missing Out. I had a winner portfolio carefully chosen but after seeing so many things skyrocket I just couldn’t resist. Rookie mistake.
- Too much trading – the fees will catch on to you.
- Misclicks. Yes, I actually managed to misclick 300$ worth of coins. By rushing and not double checking I accidentally bought some pumped up coin and had to sell that at massive loss. Ouch!
But that being said… It’s been a week of thrills. We’ve seen the whole market correct, Bitcoin Cash fiasco over Bitcoin and numerous errors from Coinbase/GDAX and Bittrex. Risks everywhere!
Could’ve Would’ve Should’ve
After a weekend of very carefully choosing my next picks, at end of day my portfolio looked like this:
… But due to reasons mentioned above I did not stick to it. IF I would’ve kept these picks my portfolio today would look like this:
Which would’ve meant that I’d be standing at 3500$+.
Portfolio status throughout the week:
All I had to do was just hold for a week. I did not. Instead here are the following portfolio changes throughout my week:
and in middle of these pictures, is where my 300$ misclick happened. Bought some complete garbage (not the coins below). Everything after that went just down hill.
End of Week 2 and Current Portfolio:
… and my current portfolio is pretty much shown above. EXP managed to make 2% profit so I was able to trade it off:
As you can see I’ve taken some risks and some of these are very doubtable decisions, especially considering none of these have any hype or shilling behind them. These are underdog coins and I am currently refusing to sell these at loss. At least need to break even. I have reasons to believe than FUN could be a long term hold but I am expecting for BTM to break out end of this year. We’ll see how this goes.
Week 2 profit: -42.65%
Overall profit: 2.416721%
Definitely not a good week but can’t believe how much I learned within this time. Not ready to give up.
Am I satisfied with my current picks? No, not really. But I will not sell these at such massive loss. I believe these are all extremely solid coins and will raise again soon enough.
Good luck chaps! Leave comments below for me to continue doing these.