I have decided to back test a strat starting tonight, under current bullish market conditions most will be going long with low leverage 5x only and not more than 3 trades at a time, mostly high volume coins if possible depending on what I find
BTC LONG 5X
This time Im setting up a long position at 5x leverage, with a stop of 2% that comes around 10% stop loss, entry at $64481 with a potential exist at $69k expecting Bitcoin to keep moving on the same range but still not breaking ATH
The reasons Im opening this long: ADX indicator about to turn its direction to positive, price bouncing on the 55 EMA, the 1D chart looks bullish in the short term
Although is my order is filled and it keeps going up then after $69k I will set an exit order with relative gains and let it run see what happens, if my order does not get filled in the next 10hrs I might just close it because at that point the price would be way higher.
On the Daily chart Bitcoin seem to be stuck on this range but with certain events like ETH ETF and politics in the US I believe price will eventually break out and its going to be wild towards the end of the year
So far from the yearly high of $73k Bitcoin did fall close to 30% and I think that's normal for crypto and nothing to be alarm about although ALTS other than ETH have suffer quite some.
Ill keep posting my positions, those and I win loose, those I get stop out and see where this goes, for now one position only, this account is nothing special in terms of $$ since I'm just testing, for how long will I test it I'm not sure because on a bull market is not that hard to trade long only, probably will do about 150 operations, taking in consideration that I only do about 3 operations a week and also wants to see how this goes on a downtrend say bear market.
ETH ETF Effect
The ETH setup looks very similar with ADX about to rip to the upside giving direction with force to the price, this is also on 4hr chart, although I'm not taking any position on ETH, trying to take things slowly, no rush on this back testing, trying to make some money not trying to achieve mcscrooge level.
Operation #0001
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