I wanted to take this time to talk a little about my history with cryptocurrencies and the hard learning experiences that came with it.
First things first, on this chart you can see where my last buy was marked with the arrow. This was the last trade attempt I made before LTC continued to trend downward. I was trapped with $180 Ltc, and I had no idea how to use a stoplosss.
I sat on my overpriced wallet through the entire bear cycle. My $3600 investment was reduced to less than $1000 at the worst point. I did not trade at all until I thought the bottom was in. Around october, I began watching the market much more closely. I had learned patience and that time was on my side.
I used my entire position (Less than 4K worth of overpriced LTC) in a series of trades to get back to break even point.
After several successful short trades, I had increased my position to 5 figures. Before januarys big dump, I sold enough LTC to take my original investment out at $182. I officially was trading with house money.
I had reached a major goal trading my way out of the hole I dug myself into after the ATH run.
So with all this being said, I want to talk about my plan, and the risk I am willing to take.
This run has seen massive gains across the board in the crypto space. The charts dont lie. Daddy BTC still continues to call the shots.
And a lot of people are growing more and more fearful as new ATH's are set, increased volatility, and the "steep" pullbacks.
I am not afraid. Why? Because my position has no cost basis. My average coin price is $0.
I am willing to miss an opportunity to short here and there because I am long on crypto in general. The bull cycle is over? Wait three years. Each bottom and top have been significantly higher than the last, and I dont think this will change for a long time.
This is more of an investment standpoint than a trading standpoint. After removing my major risk ( the initial investment) I had peace of mind whether or not LTC exploded.
If it doesnt, I will be looking for the next big opportunity to buy.
I just thought I would share this basic info about myself so that we can understand the motivation behind my charts.
Regardless of the market, I am optimistic. If the market declines, I hold. If there is a possibility for upside, I share it.
I am actively spreading the word of crypto in my daily life. I treat myself as a brand ambassador for the future.
Please be aware of this when looking at any of my charts or ideas. Remember that I have eliminated most of my "risk" and am willing to hold in the event of a collapse.
Thanks for reading, commenting and liking. I am going to continue making charts for my enjoyment and hopefully for yours.
First things first, on this chart you can see where my last buy was marked with the arrow. This was the last trade attempt I made before LTC continued to trend downward. I was trapped with $180 Ltc, and I had no idea how to use a stoplosss.
I sat on my overpriced wallet through the entire bear cycle. My $3600 investment was reduced to less than $1000 at the worst point. I did not trade at all until I thought the bottom was in. Around october, I began watching the market much more closely. I had learned patience and that time was on my side.
I used my entire position (Less than 4K worth of overpriced LTC) in a series of trades to get back to break even point.
After several successful short trades, I had increased my position to 5 figures. Before januarys big dump, I sold enough LTC to take my original investment out at $182. I officially was trading with house money.
I had reached a major goal trading my way out of the hole I dug myself into after the ATH run.
So with all this being said, I want to talk about my plan, and the risk I am willing to take.
This run has seen massive gains across the board in the crypto space. The charts dont lie. Daddy BTC still continues to call the shots.
And a lot of people are growing more and more fearful as new ATH's are set, increased volatility, and the "steep" pullbacks.
I am not afraid. Why? Because my position has no cost basis. My average coin price is $0.
I am willing to miss an opportunity to short here and there because I am long on crypto in general. The bull cycle is over? Wait three years. Each bottom and top have been significantly higher than the last, and I dont think this will change for a long time.
This is more of an investment standpoint than a trading standpoint. After removing my major risk ( the initial investment) I had peace of mind whether or not LTC exploded.
If it doesnt, I will be looking for the next big opportunity to buy.
I just thought I would share this basic info about myself so that we can understand the motivation behind my charts.
Regardless of the market, I am optimistic. If the market declines, I hold. If there is a possibility for upside, I share it.
I am actively spreading the word of crypto in my daily life. I treat myself as a brand ambassador for the future.
Please be aware of this when looking at any of my charts or ideas. Remember that I have eliminated most of my "risk" and am willing to hold in the event of a collapse.
Thanks for reading, commenting and liking. I am going to continue making charts for my enjoyment and hopefully for yours.