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!
Note
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)Note
ADA has been steadily increasing, slowly approaching the sell target.Note
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
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.
Note
ADA came back and hit the sell target. Maybe I should of not moved my stop? No regrets. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.