I was planning on getting into a trade with expectations of a nice pay day of up to $850. This is what happened. I was waiting for Bitcoin to drop some more to the price $6,610. I set a buy limit at that price which means when the price of bitcoin go to $6,610, my phone will automatically buy it for me.
This all sounded good in my head and I knew I was buying near the bottom. So I go to sleep and wake up this morning and a notification on my phone the bitcoin shot up so I got happy but then it was time for the moment of truth. I had to check and see if the price had gone down to my entry price before it shot up and it did! I was happy and ready to see $420 profit on my screen, but it wasn’t there…
The trade did not go through. It hit my entry price but because it did go far enough below it, the app wasn’t able to enter the trade and I missed out on my payday. This is both good and bad. I will show you a screenshot below, the dotted green line that says “buy limit” is where I wanted to get in.
Now I know I missed money but the reason why I said this is also good because I was going to get in at the bottom of this dip. That is good because I successfully saw some indication that that was near the bottom. Next time I might be able to catch the movement. Thanks guys, I will see you all soon.