THETA LONG @ $6.96. SL @ $5.36. Target Price 20.63. RR = 8.53

Title says it all. I entered LONG THETA @ $ 6.96 with SL @ $5.36. Upside Price Target of 20.63. Risk Reward is 8.53. MACD is breaking UP and breaking out of downtrend. Similar chart on ALL Timeframes from 8hr to Daily and Weekly.

Trade active:

Trade starting to work here. Will plan to ADD to my position when I see another BUY signal.

Trade active:

ADDING to Position. Similar Trade as TFUEL. We see a POP and then a retest of the horizontal support zone at $6.98. So we have a pivot low on 4hr chart of $6.98 with a bounce and another BUY as price pops above that 4hr pivot low candle high. That triggered another BUY signal around 7.23. Here we have a POP and retest with new BUY so I feel comfortable raising my SL to $6.63 from $5.36. Assuming a $100K account (for easy numbers) I want to RISK NO MORE than 1% ($1000). 1st ENTRY was $6.96-$5.36 = $1.60 LOSS per THETA IF SL HIT. So I already have $1000/$1.60 = 625 THETA. Now that SL is raised to $6.63 the new BUY was $7.23 so thats (7.23-6.63) = 0.60...$1000/$0.60 = 1667 MAX THETA. I already own 625. So I bought 1042 more THETA. (1667-625 = 1042). I hope that helps.

Trade active:

ADDING another 0.5% RISK to trade as THETA is breaking out above prior candle high after bounce off new support. Also MACD breaking higher and momentum picking up. Keeping SL the same here. So RISK another 0.5% ($500). 3rd Entry = $7.79. SL = $6.62. Thats $1.14 LOSS PER THETA IF SL HIT ($7.79 - $6.62 = $1.14). $500/$1.17 = 427 more THETA bought this morning. NOW Total RISK is 1.5% but with all of crypto heating up and apparnetly breaking out and we are still at support adding another 0.5% lets me Push my WINNER here.

Trade active:

Doing well with this trade so far. ALL 3 Entries are currently profitable. Holding steady and waiting for this trade to marinate a bit. Keeping everything as is for now.

Trade active:

Most signals still point to higher prices but crytpo had a good day today and THETA really didnt move much comparatively. Will keep things as they are including SL. Will allow a little more time for trade to mature. Having said that, if we dont get some movement soon I may abandon trade. I will only choose to do that if I think I have better use for my capital than this trade.

Comment:

Slow grind higher. Nothing changes.

Trade active:

FINALLY a break out above resistance again but this one feels like it will stick. 13 EMA has been acting as support on the way up. We made another BUY signal today but I am already fully positioned with the entries I described above so today is a GOOD day. Not looking to ADD to position just yet. Lets see where the day ends.

Comment:

Well so much for that breakout sticking. We seem to be testing TL support again. This one and the related TFUEL trade are both lagging behind other crypto opportunities. If this one gets hit harder than most crypto in the pullback that appears to have started then I will exit this trade and TFUEL trade and look for other opportunities to deploy my capital.

So far THETA and TFUEL trades are break even or slight losers. Most of my other current trades have siginficant profit so again these are lagging my own portfolio. Decision time soon for these.

Trade active:

I just noticed that there was a LONG Wick lower yesterday on THETA/USD chart that I use to do my TA for THETA. As anyone who has bought THETA knows that you can only do BUY THETA on certain exchanges using USDT. However, I have always charted based off USD because ther is usually more price history on that chart. Anyway, the long wick yesterday SHOULD have gone through my SL @ $6.62 based on this chart. However, IT DID NOT HIT. The reason is that I hold THETA in USDT on KuCoin Exchange and that did NOT go that low. Low there was $7.20 USDT. So TRADE IS STILL ACTIVE.

From now on I will chart based off the KuCoin THETA/USDT chart.

No Changes today.

Trade active:

YAWN,...NO changes. Would expect this to move by now.

Trade closed: stop reached:

Well that was a crappy day. SL hit and trade closed. On to the next trade.

This trade did not move as quickly as I would have liked. Maybe in retrospect I should closed it out earlier when it was in small profit and THETA was just not moving as expected. However, at that time BTC and ETH looked stronger until today despite small recent pullback in BTC. So I was expecting those to go a bit higher and carry the rest of crypto with them. However, today those faltered and the rest of crypto faltered as well.

THIS trade shows why trading with excess leverage is BAD. THIS trade shows that while I was pushing my WINNER a bit early to try and amplify my gain I NEVER RISKED more than 1.5% on this trade. So no big deal here. Just another trade. My winners in several other trades FAR outway the loss in this one and TFUEL.

Despite todays significant drops in my trades many of my other trades are well into profit and today I mostly gave back some profits.

On to next trade. Days like today are just part of trading.