2 BTC to 20 BTC Trading Challenge - Day 24 (0.39 BTC)
Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
I am currently in Las Vegas for the Unconfiscatable Conference and I didn’t have intentions of making another update until returning home. However the stop loss on my USD:TRY long was triggered and because of that I felt the need to make another post.
I had high hopes for that trade. I was expecting it claw out of it’s unrealized loss and go onto makeup for a large portion of the deficit that I got myself into with the string of losses that started this challenge.
That position easily could have netted me 1+ BTC over the coming weeks / months. Instead it broke down $5.25, triggered my stop and capitalized on a loss of 0.3425 BTC.
That puts me into a deep hole and it will make it very difficult to complete this challenge on time. Now the challenge will be to get back to breakeven in the next three months. If I can do that then I believe it is still possible to complete the original goal of +1,000% in less than 6 months.
A big part of the motivation for starting this challenge is to inspire others who have gotten completely rekt throughout this bear market and what better way to do that then to get completely rekt myself?!
If it wasn’t for this challenge I would likely take a few weeks off and deposit another ~ 1.5 BTC. Instead I am going to roll up my sleeves, decrease my risk and get back to work.
Open Positions
Short: XAUUSD
* STOP ORDER TRIGGERED on 1/18/19 to short 0.05 lots
Price: $1,284.73
Stop: $1,297.26
Projected Risk: 0.97%
Leverage: 100X
Exposure: 0.05 lots
Margin: 0.016 BTC
Unrealized PnL: +0.004 BTC
Long: USDCAD
*1/17/19 Stop order entered to open long primarily due to recent golden cross with 50 and 200 W MA’s. Daily signaled 50% entry due to P > S MA (5%) + Bullish M MA (30%) + BS (15%)
Price: $1.33032
Stop: $1.3149
Risk: 1.15% / 0.07 BTC
Leverage: 100X
Exposure: 0.21 lots
Margin: 0.057 BTC
Unrealized PnL: -0.002 BTC
Closed Positions
Long: USDTRY
Enter: $5.55804
Exposure: $16,000
Leverage: 100:1
PnL: -0.3425 BTC
ROI: -7.81%
Watchtower
.
BTC
Notes: Expecting gap in volume profile to get filled before final capitulation takes up to the 1.4K -
1K range. Backwardation spread is up to 4% which is primary reason why I am bullish.
XRPBTC
Notes: Appears to be breaking down symm triangle & rolling over D L MA following DC. Backwardation is the only reason I am holding onto long. Trying to re enter weekly cloud which is on verge of bullish kumo twist.
ETHUSD:
Patterns: 5 month bear channel | Daily chart starting to look like h&s
Notes: First weekly buy signal since April 2018. Weekly higher low? Lifetime POC = $212 (in confluence with W L MA & 200 D MA)
LTCUSD:
Patterns: 7 month bear channel with potential recent bull trap. If TL resistance holds then should get a h&s w abbreviated right shoulder.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
I am currently in Las Vegas for the Unconfiscatable Conference and I didn’t have intentions of making another update until returning home. However the stop loss on my USD:TRY long was triggered and because of that I felt the need to make another post.
I had high hopes for that trade. I was expecting it claw out of it’s unrealized loss and go onto makeup for a large portion of the deficit that I got myself into with the string of losses that started this challenge.
That position easily could have netted me 1+ BTC over the coming weeks / months. Instead it broke down $5.25, triggered my stop and capitalized on a loss of 0.3425 BTC.
That puts me into a deep hole and it will make it very difficult to complete this challenge on time. Now the challenge will be to get back to breakeven in the next three months. If I can do that then I believe it is still possible to complete the original goal of +1,000% in less than 6 months.
A big part of the motivation for starting this challenge is to inspire others who have gotten completely rekt throughout this bear market and what better way to do that then to get completely rekt myself?!
If it wasn’t for this challenge I would likely take a few weeks off and deposit another ~ 1.5 BTC. Instead I am going to roll up my sleeves, decrease my risk and get back to work.
Open Positions
Short: XAUUSD
* STOP ORDER TRIGGERED on 1/18/19 to short 0.05 lots
Price: $1,284.73
Stop: $1,297.26
Projected Risk: 0.97%
Leverage: 100X
Exposure: 0.05 lots
Margin: 0.016 BTC
Unrealized PnL: +0.004 BTC
Long: USDCAD
*1/17/19 Stop order entered to open long primarily due to recent golden cross with 50 and 200 W MA’s. Daily signaled 50% entry due to P > S MA (5%) + Bullish M MA (30%) + BS (15%)
Price: $1.33032
Stop: $1.3149
Risk: 1.15% / 0.07 BTC
Leverage: 100X
Exposure: 0.21 lots
Margin: 0.057 BTC
Unrealized PnL: -0.002 BTC
Closed Positions
Long: USDTRY
Enter: $5.55804
Exposure: $16,000
Leverage: 100:1
PnL: -0.3425 BTC
ROI: -7.81%
Watchtower
.
BTC
Notes: Expecting gap in volume profile to get filled before final capitulation takes up to the 1.4K -
1K range. Backwardation spread is up to 4% which is primary reason why I am bullish. XRPBTC
Notes: Appears to be breaking down symm triangle & rolling over D L MA following DC. Backwardation is the only reason I am holding onto long. Trying to re enter weekly cloud which is on verge of bullish kumo twist.
ETHUSD:
Patterns: 5 month bear channel | Daily chart starting to look like h&s
Notes: First weekly buy signal since April 2018. Weekly higher low? Lifetime POC = $212 (in confluence with W L MA & 200 D MA)
LTCUSD:
Patterns: 7 month bear channel with potential recent bull trap. If TL resistance holds then should get a h&s w abbreviated right shoulder.
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