I’m not going to lie, it feels good to win even when you are doing paper trading, what I like the most is that I have that disconnection from the market and can trade calm with no rush and just waiting for the setups, I do have a lot to learn but this strategy is a good guide to understand what the price might do next.
My last three trades went great, well the last two since my trade #7 I got scared out not even stop out, I manage to get close to a 6% its not loosing but not really what I’m targeting to.
My last three entry and exit:
– Oct 3: Entry $60,210 – Exit $61,929 – Gain 5.85%
– Oct 11: Entry $60,595 – Exit $62,158.77 – Gain 12.5%
– Oct 24: Entry $66,204 – Exit $67,871.43 – Gain 12.5%
Now that I’m getting closer to 10 trades I was just looking at the chart the other day and watching my few 9 trades, but do look cool on the chart, would be even cool when I’m getting close to 100 trades, the creator of the strategy says if follow diligent should win 6 out of 10, I’m looking to make 7 out 10, over all 70 winning trades out of 100, trading only based on the chart and not on any kind of news, YouTube, twitter or any type of media just focus on the chart, I might sound a bit smart ass today but times like this give me confidence I can make it although its easy to loose that confidence once you loose 3 or more trades in a close time frame, but I remain positive.
This was my setup on for my previous trade, I'm only trading long and I knew this was going to be a rebound but I was a bit confident for a few reasons.
1- ADX turning around, getting force
2- SQZ have a very develop red valley so about to turn green
3- My entry was descent, the price already drop close to $3k
With a stop loss of 3%, on a 5x leverage trade that's a 15% stop loss what I usually use got me close to $64,200
I have notice that the price usually hunt for this pockets in volume, using the VRVP indicator as a guide I thought before going even lower it will probably bounce back up, if not that was going to be a 4hr red candle of $3k to the downside, I think we are well pass over that time in the market since we getting into bull market territory, if anyone thinks this is a bear market well clearly don't remember Bitcoin hit $15k on 2022.
Eventually indicators this time did exactly what I was thinking and the price never went under $64k, slowly I'm learning how to play this game of risk, small controlled risk, patiently waiting, but I STILL chicken out when I saw that retrace on the 4hr green candle, I knew it was not going to get over the previous recent short term top and I was scare that was the top of the move, it clearly had no gas after the rebound as the ADX loose force and took a nose dive but the SQZ does turns green showing that the price had enough fuel to reach my initial target of 3% (15% on a 5x leverage trade) of $68,190
Once again the price does reach my target but I'm already out with no need to get back in, when ever I get a 10% in a day I feel like a champ, in this case my target was very realistic as the VRVP was showing how over $68k the price would be over extending, try to break $68k twice to then roll over.
I'm going to be watching the market during the weekend, Saturday is usually a low volume day and Sunday starts to pick up when Asia opens up..
Bitcoin 4hr (next trade)
Right now its a no trading zone for me, my ideal price to pick a trade would be under the recent low of $65k ish, the SQZ is still on a red valley formation, ADX has no force, even if I get around that price my stop would get me all the way down to $63k ish that I think its very very probable.
Why $63k probably?
The Bitcoin 1D chart is the reason for why $63k might happen and its a good thing because when ever the price starts to pick up pace it likes to ride the 55 EMA (Orange Line), not that EMAs are support or resistance, that is not what I'm trying to say, the price likes to pierce through it to shake people out, liquidate positions, hunt for stop loos and then moves up even higher, I think soon the price going to try to brake the recent 2024 high of $73k ish.
For the purpose of taking advantage of longer moves I have been buying on spot, I only got $2k for this experiment so my purchase are very small and only got up to $400, hoping to sell over $100k, best case $120k next year, I'm really not making any money or at least only enough to pay for Trading View although my entire purpose is to learn before jumping to the market, at this pace I might end around 2026 jajajaja but I really want to accomplish this 100 trades challenge and hopefully my spot trading gives me enough to break even or a bit of gains.
Posted Using InLeo Alpha
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