Hello all! Thanks for following my personal challenge. Here we go Day 2! I am attempting to turn $1000 into $100,000 by the end of the year by day trading altcoins.
Day 1 was a success:
Day 2 and here is trade #3
Starting Bankroll Day 1: 0.16 Bitcoin
Starting bankroll Day 2: 0.168 Bitcoin
I invested half of my bankroll into ADA on Binance.
Bought 3664 at 2265 satoshi
Total invested: 0.0829896 Bitcoin
Sell target is: 2380 for 5% profit
Stop loss: 2150
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
Day 1 was a success:
Day 2 and here is trade #3
Starting Bankroll Day 1: 0.16 Bitcoin
Starting bankroll Day 2: 0.168 Bitcoin
I invested half of my bankroll into ADA on Binance.
Bought 3664 at 2265 satoshi
Total invested: 0.0829896 Bitcoin
Sell target is: 2380 for 5% profit
Stop loss: 2150
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
Comment:
A little bit of a pullback here, this is ok as long as we can get a bounce up from trend here (ema8, blue line)
Comment:
ADA has been steadily increasing, slowly approaching the sell target.
Comment:
I just want take this opportunity to give out a suggestion that I often use. I entered this ADA trade at 2265 satoshi and soon after the price instantly had a run up. What I like to do in these situations is move my Stop loss up to my buy in price or a bit above my buy in price.
I do this because:
#1 If the current run losses momentum, more times than not the target will not be reached soon. I would rather use these funds to move onto another trade.
#2 By moving the stop loss up to my buyin price, or slightly above, I risk none of my own money and still have potential to make profit.
#3 I'm happier with a dead trade than a losing trade.
My stop is now moved up to 2265
I do this because:
#1 If the current run losses momentum, more times than not the target will not be reached soon. I would rather use these funds to move onto another trade.
#2 By moving the stop loss up to my buyin price, or slightly above, I risk none of my own money and still have potential to make profit.
#3 I'm happier with a dead trade than a losing trade.
Trade closed manually:
My new stop was hit for no loss. It's a shame because I came so close to the target.
Trade cancelled. I will look for a new opportunity tomorrow.
Comment:
ADA came back and hit the sell target. Maybe I should of not moved my stop? No regrets.
