SolanaLong
Re-entering the SOL Trade: A Strategic Move
Yesterday, our SOL idea played out brilliantly, delivering a 65% profit in just 12 hours. While I didn’t hold out until the initial target, I want to be clear about my approach—I calculate not just price movements but the time frame as well. If I see rapid growth within a few hours that yields more than 50% of my deposit, I consider it a solid trade and decide to exit rather than risk overstaying.
By the evening, I closed the trade with satisfaction. However, this morning, the market brought SOL’s price right back to where it started. It’s almost as if the conditions for the trade reset themselves, presenting a renewed opportunity.
With this in mind, I’ve decided to re-enter the trade.
Trade Details
Duration:
This trade can evolve into either a short-term or long-term position based on individual goals. Alternatively, you could approach it as an investment in the SOL ecosystem, allowing you to average down costs if the trade doesn’t play out. Monitoring funding rates remains key to this strategy.
Target:
The goal is to achieve a 100% profit. The entry is made on Binance with 25x leverage, using a $37 margin and creating a total position size of $950.
Risk:
This trade is categorized as medium risk, particularly if you’re prepared to utilize dollar-cost averaging (DCA) to manage the position. This time, I’ve added an extra layer of caution by limiting potential losses to around 60% of the deposit.
Conclusion
Trading is a mix of timing, strategy, and calculated risk. SOL has proven its potential in a short timeframe, and with similar conditions presenting themselves today, I’m ready to take another shot. Let’s see how it unfolds!
By the evening, I closed the trade with satisfaction. However, this morning, the market brought SOL’s price right back to where it started. It’s almost as if the conditions for the trade reset themselves, presenting a renewed opportunity.
With this in mind, I’ve decided to re-enter the trade.
Trade Details
Duration:
This trade can evolve into either a short-term or long-term position based on individual goals. Alternatively, you could approach it as an investment in the SOL ecosystem, allowing you to average down costs if the trade doesn’t play out. Monitoring funding rates remains key to this strategy.
Target:
The goal is to achieve a 100% profit. The entry is made on Binance with 25x leverage, using a $37 margin and creating a total position size of $950.
Risk:
This trade is categorized as medium risk, particularly if you’re prepared to utilize dollar-cost averaging (DCA) to manage the position. This time, I’ve added an extra layer of caution by limiting potential losses to around 60% of the deposit.
Conclusion
Trading is a mix of timing, strategy, and calculated risk. SOL has proven its potential in a short timeframe, and with similar conditions presenting themselves today, I’m ready to take another shot. Let’s see how it unfolds!
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.
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.