I have decided to create a new journal for trading bitcoin, litecoin, altcoin and whatever related digital currency products come out. Seems like a journal is a good idea for trading. Unlike the previous journal that lasted one day, I will not give certain specifics like buy amounts. If someone bothers to read this and has valid trade ideas then please pipe in. Please, let's keep this upbeat and avoid dogma and piss fests. Good trading.
Day One: Sitting on my hands so far today. I have a core holding of bitcoin and litecoin that I use to margin trade for quick in and outs. Got tired last night, closed my bitcoin and litecoin day trades at close to the high points. I was long. Totally uninterested in altcoins at the moment. They only usually run when BTC is volatile. Haven't checked on altcoins in probably two weeks (other than litecoin which I don't really consider to be an altcoin).
Sold BTC yesterday morning @ 529.8. Sold LTC yesterday morning @ 13.74 Had a good trade in BTC and LTC yesterday. Interruptions, drama and got busy. Nice little profit and hit the close trade button and got a horrible fill. Turned into 0.016 BTC gain. You get screwed hitting that button. Bought a small stake in BTC and LTC last night and today. Average price 520.42 BTC and 13.14 LTC. Talked to someone who knows someone w/ Casascius BTC. Trying to see if I can get mine graded w/out going out of town to a coin show. Sporadically following BTC and LTC for the rest of the night. Go out of town tomorrow morning.
bought some more bitcoin and litecoin. my basis is 513 and 13.11 respectively. down 3% and 4.1% respectively since buying back (lower). if litecoin really spikes I may consider dumping my core holding and trying to buy back lower.
just dumped LTC at 11.91. another China rumor. correction... the margin LTC trade and I still have a small margin bitcoin trade.
Just purchased a sliver of LTC on margin a few minutes ago. Reentered BTC and LTC a few days ago on margin in small positions. Avg. price $491 BTC and $10.96 LTC. I have been buying BTC several times a month as a long term hold. I bought $300 worth earlier today. Am waiting for a check to buy about $5000 worth. My cost basis is still negative currently but should be about zero after buying $5k worth. When and if LTC makes another serious move, I will consider ultimately exchanging most for BTC and only keeping about 250. BTC, of course, is a binary outcome. It will fly much, much higher or go to sub $10. The expected return, in my estimation, is wildly positive. BTC could go to zero, however, and I would be OK. Bitcoin is complicated. It has been a hoot to work at figuring it out.
bought some more... new averages $494 and $10.94. after I spend the check on BTC, I'm thinking about slowing down my dollar cost averaging on bitcoin to maybe $200-$300 a month and picking up some dogecoin and namecoin.... maybe $80 a month on dogecoin and namecoin. as I understand it, most dogecoin will be mined by early next year. the annual doge inflation is tagged at 5% forever but the loss of coins, I would imagine, is far greater than that. personally, dogecoin and many dougecoiners are obnoxious and dogecoin's purpose is dubious, but a trade is a trade. my laptop died a few days ago. glad I didn't have any coins on wallets on it. always back your stuff up. I will be getting an external hard drive with the laptop's replacement.
just bought a little more LTC. avg price is now $10.93 (Bitfinex). sending 5 BTC from storage to Bitfinex. intend to buy 7 or 8 BTC on margin. I really wanted to buy BTC around $450 for long term storage. $5k at $450 equals about 11. by buying 8 on margin, I will negate the price run up between my desired price and the price on Tuesday (anticipated date of receiving check) if it continues to run and still have a little bit on margin to play with. If the price heads south between now and then, however, then I bought a few more than I intended.
bought some more LTC since last time. avg price is $10.93. probably done buying LTC for now as I don't like buying into trading rumors. "Coblee" was on BTC-E trollbox last night. I saw some of his posts. "Coblee" is Charles Lee's nickname. It is also his handle on bitcointalk. Whether "Coblee" on the trollbox is in fact the litecoin creator talking is unknown. Anyways, "Coblee" is ***rumored*** to have said that LTC will soon be added to Coinbase. Of course, this news if true is substantial and would send LTC soaring if confirmed. I didn't see these comments as he said them before I logged in. People on the trollbox were talking about it though. "Coblee" said he would be back on the trollbox after watching a hockey game. I fell asleep and didn't catch it. All of this talk, however, can be verified via trollboxarchive.com. If I get the chance today I will look into it. BTW, Charles Lee is also an employee at Coinbase. LTC up big on big volume.
http://trollboxarchive.com/search.php?search_type=all&search=coblee http://trollboxarchive.com/search.php?search_type=username&search=coblee ........buying some NMC, DOGE and maybe PPC and NXT.....when and if LTC is on Coinbase $50+.