Crypto Trading – Still Hanging On

Technically Passionate

Trading has always been a passion, ever since I closed my first profitable trade almost twenty years ago. For me, it’s about pulling off a good move. It’s more about the percentage move than the dollar value. After all, if you can do it with a little, you can do it with a lot. Trading is relative, which is why I always promote learning with a small account.

Over the years, I developed a trading strategy that works incredibly well regardless of the market. Unlike many traders, I am rather comfortable shorting. In fact, my shorts are often a lot more impressive than my longs. I guess one can thank the market for that. Depending on the risk profile, I can generate 5% to 30% per month.

I raise my risk profile when I am trading with smaller amounts. Trading is all about consistency. Without it, you get nowhere. It’s pointless to have profitable trades that are matched by unprofitable trades. Developing a strategy is all about establishing consistency.

Come On!

I have been trading Litecoin for the past few months, as the volatility is good but still relatively stable compared to other altcoins. I am currently in a position and waiting for a 6% move to close my position. It has come close several times. However, the altcoin market has been rather boring for the past week or so.

I am currently moving profits into a particular altcoin. I intend to sell my position once it reaches the levels I anticipate and rotate that capital back into my trading account. The idea is to create a substantial income stream. Once again, trading is relative. The more you trade, the more you make. It’s simple.

I only need a little spurt to close this position. In fact, I will be happy if the market dumps after a relief rally. Trading enables traders to earn money by simply applying intelligence. It’s the ultimate monetization of knowledge and intelligence, and that’s why I love it so much.

Final Thoughts

Every effective trading strategy has a countermove for when the market turns against you. However, with every countermove comes risk. Hopefully, I can exit this position without increasing my risk profile. Here’s hoping we experience some volatility this week. All the best, see you next time!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in my receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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