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redking75
Jul 22, 2018 7:42 PM

Long $1k to $100k Challenge - Day 9 Trade #12 - WABI Long

Description

Hello all and thanks for stopping by and following my personal challenge. I am attempting to turn $1000 into $100,000 by the end of the year by day trading altcoins.
I started my challenge on July 14th with a bankroll of 0.16 Bitcoin that was valued at $1000 at the time. You can follow and see all my trades in my profile.

***My sell target on the chart above is wrong, it is suppose to be 4995, sorry I didn't have time to fix it***

The first week, I made a few mistakes that cost me. Being greedy never pays off. I won my first trade today and feel like I am getting back on track now.
After 9 days and 11 trades:
Wins: 6
Loss: 5
Balance: 0.1543 B
USD: $ 1172

All my trades and stats for this challenge can be found in the link on my profile.

Alright, here we go with Day 9 trade #12
I invested 0.1536 B into WABI. I bought 3232 @ 4752 satoshi
Sell target is: 4995 for 5.11% profit
Stop loss: 4515

Reasons why I choose WABI:
Heavily oversold the last 3 days.
Price support found.
The MACD is curling up off the floor while the other indicators RSI and CCI are still very low which indicates to me a good opportunity to buy into position with a potential price increase soon.
My sell target is below prior support.

In case you are wondering why my buy price sometimes doesn't match the current price on the chart when I make a new post, this is because I post my coin selection to my Discord group first and then make a new trade idea here which takes about 30 minutes to complete this all.

Your comments, agrees and disagrees are always welcome and appreciated.

Thanks for stopping by and have a great day!

Trade active

We had a nice spike up, but the sell resistance seems it may be too much for now. I forgot to ladder my sells to prevent this. Spreading out my sell orders a few satoshi in price will help prevent this in the future on low volume coins.

Trade closed: target reached

7 hours and another +5.11% profit. Today was a good day with 2 wins in a row.
tradingview.com/x/6FzwdXAI/Time for me look for a new trade.

Comment

Comments
TKernicky
Just stumbled onto your challenge. Nice work and good luck!
redking75
@TKernicky, Thanks for the support
TiagoPratas
20 btc daily volume ? You did nice trades, but this dont make sense
redking75
@TiagoPratas, Yes, the volume is low right now, but most breakouts occur when there is low volume.
TiagoPratas
@redking75, This volume will not absorv a 1k buy
HD1184K
@TiagoPratas, I'm guessing hes hoping to sell over the course of many hours. 5% of my position an hour was enough for me for substratum
Shockwaves
Interesting, Please can I join you in the challenge?
backwoodartistry
i have been enjoying following redking. i joined his discord group, and im very glad i did, i would recommend that you all check it out! if you do join, let em' know that Andy sent yah! 1k to 100k, Lets Do It!!! :-)
inv.xgarciao
ITM Thanks!!!!
redking75
@Inv.xgarciao, Yes WABI was a successful trade. Thanks for following.
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