Buying opportunities

Yesterday, $CELO pumped tremendously. This one has been on my radar for a week or two, and I passed up an opportunity to pick it up last week. For one, it was on Bittrex, and I didn’t feel like moving funds around to pick it up, and two, I was focused on moving funds into Yearn. So I missed out on this pump.

I’ll continue keeping an eye on this one. In the meantime, here’s an Epicenter podcast with two of the founders of Celo.

In light of this missed opportunities, I thought I might share some other positions that I are hitting my buying criteria.

ChainLink ($LINK)

LINK hasn’t been this weak since May, when it last touched it’s 200-day moving average. It would be a great time to pick some more up if I wasn’t still holding from the ICO. I might reconsider if it touches the 200MA.

EOS

I’m not sure how I feel about this project anymore, I haven’t heard anything out of it in some time, which is more my fault than theirs. I’ve been holding on to this one since 2017, meaning that while I’m still up 90% from my entry, I’m still down 90% from early 2018. Another lesson in why you should take profits, or at least set trailing stops.

REN

They’ve pivoted from their original project, REN Protocol, which was a dark pool trading platform, and now have one of the most popular tokenized BTC assets on the market. That last green sell signal may be acting as a strong support right now. I would size my position with the last sell signal as my stop and aim for another bounce off the ATH.

Litecoin ($LTC)

I could care less about LTC these days, but here it is. I’m not sure where the bottom is on this one, it could be anywhere between 3000-42 sats. I might just still be feeling burned when I bought it at $300 during a FOMO phase.

Basic Attention Token ($BAT)

My stop limit (orange line) would seem more brilliant if I hadn’t already been down 60% due to apathy. This seems like a really good entry, with some strong support slightly below the current level on the wider chart. Still, I took a loss on this one and should have shown better risk management on it about two years ago.

Lisk

This one was probably one of the biggest mistakes in my trading career. I blame the TV trollbox. I managed to cut it after 90% losses. Another project that I don’t think got any traction, and one that I should have cut a long time ago.

Not quite there yet

These coins are all on a downward eight-count: Tezos, 0x ($ZRX), ZEC, Cardano ($ADA), Ravencoin ($RVN). I think AMMs like Uniswap have killed 0x, Cardano might have the most life left of them out of the bunch, but I’d probably feel differently if I had more at risk on that position. I mined a good deal of RVN when Overstock’s former CEO name dropped them; I wish I’d unloaded more back then, and might be hoping they have another run before I can take some profits.

So what’s the lesson here? Probably that I’ve been really bad with risk management in the past. I think I can excuse myself since most of my losers were ones I FOMOed into during my intro to crypto during the 2017 bull run. I’m definitely more wiser now (I hope), so I hopefully won’t make more of the same mistakes in the future.

I’ll be sitting out with these. Earlier this month I opened positions with ALGO, ZEN, and SOL, which are all down, and I made another position with COSMOS that finally triggered after everything else dropped. While technically, I could set some stops to limit my downside on these positions an allow myself to deploy more capital, I’m locked up in Yearn right now, and plan on waiting until October to make any further moves.

Still, I’ll be watching these symbols to see what happens to them, and will do some more research to see if any are worthy of further investment.

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