Fellow Coinwirers,
In this journal, we will share the insights, experiences, and lessons we’ve gained in the trading world. We trust that our reflections will offer valuable guidance for your own trading endeavors.
Trading Period: 21 Oct – 28 Oct
This past week has been one of my most challenging trading experiences since joining Coinwire. My win rate fell to 38.46%, highlighting the tough market conditions. However, it also offered valuable insights and lessons that I’d like to share with you.
Market Overview
Last week brought a welcome calm compared to recent volatility, as markets seemed to pause, almost holding their breath, in anticipation of the upcoming U.S. presidential election. This created an ideal setup for me to selectively go LONG on specific coins within the MEME and DeFi sectors, where strong buying momentum and solid support offered clear opportunities.
My top picks here included $PEPE and $JUP. At the same time, I utilized SHORT scalping strategies on certain L2 and AI coins like NEAR and LISTA to capture quick moves. The result? An impressive 84.61% win rate, boosting my trading profits to 144.21% of my total fund.
Velodata.app
- Go to the “Market” section
- Select “Top Volume” or “Large/Mid Cap”
- Observe sudden increases in Sector Performance, Open Interest (OI), and Price
OI-Normalized CVD shows market buying and chasing price.
1. LISTA (LISTA/USDT) – LONG
This was a scalping trade on the 15-minute and 1-hour timeframes, using basic support and resistance levels. Simple technical analysis can often be effective if applied with a solid understanding of market trends. I used a 13x leverage for this trade and secured a 25.74% profit.
Lesson: Using support and resistance is a core skill every trader should master, but always check the overall market direction before executing trades.
2. BONK (BONK/USDT) – LONG
My biggest loss last week was a trade on BONK on October 25. With Open Interest (OI) on the rise, it appeared Meme coins were dominating the market. However, it turned out to be a fake breakout, with the market reversing direction soon after.
Key Takeaway:
In a bullish market, particularly before a major uptrend, the market often “kills” both Long and Short positions by moving sharply and unpredictably. During these periods, traditional technical analysis can be less effective.
Trading Period: 28 Oct – 3 Nov
Trend Insights – TOTAL 2 & USDT.D on the Daily Time Frame
In the broader view, TOTAL 2 continues to indicate money flowing into Altcoins. Typically, when USDT.D declines as TOTAL 2 rises, Altcoins tend to grow, and the opposite also holds. The chart shows the market in an upward trend, consolidating and building momentum, preparing for a potential breakout ahead.
Key Trades of the Week
1. PEPE (PEPE/USDT) – LONG & LISTA (LISTA/USDT) – SHORT
These trades were a highlight of the week, showcasing the strongest LONG and SHORT signals. I secured a 46.35% profit on PEPE and a 42.22% gain on LISTA. Key indicators, such as support and resistance levels, played a crucial role in achieving these results.
2. ENA (ENA/USDT) – LONG
My largest loss of the week, at -74.34%, came from this trade. Although the market was in an uptrend, my mistake was over-leveraging. On the H4 timeframe, I relied on traditional support and resistance levels, along with a Value Gap indicator for more precise support zone identification.
I had set a stop-loss plan at 0.3450, targeting the next support zone at 0.3244, which it eventually reached. This trade was a valuable reminder of the delicate balance between strategy and risk management.
With these reflections, I’m heading into next week’s trading with insights fresh from last week’s challenges and wins, all while awaiting the impact of the U.S. presidential election.
Have a great day, and may your trades be ever profitable!
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