Past Performance
2020
Purple Crypto February '20 Winnings - MATIC, CHZ, XMR, ZRX, NULS, WAVES
Published 5 March 2020
In the month of February 2020, we closed the following six setups totalling 337.9% in winnings in total.
Matic showed significant strength in indictors since a recent plunge. From technical analysis, it looked to have room to move up further, making us 43% in winnings.
Chiliz (CHZ) had developed strong signals of a rise. It had started to uptrend and we expected it to hit the short-term targets as expected giving us 95.5% in winnings.
From further analysis of Monero’s wave structure, we believed that it would be correcting upwards.
(The markings (B) and (C) were a guide and not an absolute indication of its trajectory, magnitude or duration.)
Based on retracement values, it had the potential to rise much further in an oncoming upwave. This trade was a medium term hold giving us 47.8% in winnings at a stop loss point.
ZRX (Ox) had been in a corrective formation and we were at what we believed to be the final upwards phase of this correction before it heads down again. It made us 47.9% in winnings on close.
Nuls had raised a buy signal. Wave analysis indicated it was likely to head upwards at least for the short-term. It made us 40.8% in winnings on reach of a stop loss point.
Waves presented a short to medium-term opportunity on re-entry of a previous setup making us 62.9% in winnings on reach of a target point.
Commentary: Published 5 March 2020
Have you ever wondered why I haven’t been too fussed about BTC?
If the only thing we can rely on to determine potential future winnings is past performance, then the crypto that takes the cake is Monerrrrro.
Here’s a brief overview of 3 coins which I’ve mainly been focused on (only for the sake of variety). I’ve taken the lows from 25 July 2016 to their all time high to calculate percentage gains.
1. Bitcoin 25/07/2016 low-$615. ATH-$19666. % gain 3098%.
2. Ethereum 25/07/2016 low-$11.30. ATH-$1424. % gain 12502%.
3. Monero 25/07/2016 low-$1.70. ATH-$478. % gain 28018%.
Now, some might say it isn’t just about the gains but the losses I should be taking into account too (or the strength of the crypto when it downtrends). And I’ve done that. Though, if you’re like me and play only for the short to medium-term, then the long-term losses really have no bearing.
1. Bitcoin – ATH to low since ATH – 84% loss
2. Ethereum – ATH to low since ATH – 94.2% loss
3. Monero – ATH to low since ATH – 91.2% loss
While Bitcoin does seem somewhat stronger, the % gains for Monero far outweigh the slightly higher % loss. Personally, I’m not one to watch my winnings dwindle away in downtrends. The percentage losses would really only apply to HODLers.
It may well be the $$ figure that magnetises people to BTC (or somehow confuses them…maybe?) or its market cap where BTC dominates without a doubt. But it has never made any sense to me why everybody be talkin’ about Bitcoin billionaires when we really should be talkin’ about Xmr …rrr …rrr …rrr *growls*.
Remember…
It’s not about how much you win.
It’s about how much you didn’t lose.
Past performance isn’t an indicator of future performance.