Stormgain Crypto Trading Challenge Day 2: Mega Seat-of-the-Pants Profits with Ethereum!

Today was my second day of trading on the Stormgain crypto trading site. Bitcoin was down from yesterday’s $34,000+ high. In fact it had dropped over $2000 when I checked in.

However, the CryptoIndex10 was up on the back of alt coins all moving upwards as if in a negative correlation to Bitcoin.

Ethereum was especially bullish and all my trades today were Ethereum/USDT trades.

So How did I do? Not too badly! Check out the video for full details!

In my first trade I lost $100 and in another trade I lost $150, but in the end I finished over $2600 to the good!

In the first losing trade I felt that the market was due a correction, but it kept going. I had forgotten yesterday’s nugget about respecting the prevailing direction of the market. Even so, later on when Ethereum dipped I did make small amounts of profit on the dips.

Trading By The Seat Of My Pants…

The trade that yielded the big (for me at this stage) profits was a long $500 with 30x leverage. However, just after I set it, the market seemed set to plunge, so it really was a seat of the pants ride. I did not set a stop-loss and instead I checked the auto-invest option that automatically puts more of your capital into a position if it seems at risk of closing out in the red. It is a highly risky tactic, but the bullish sentiment towards Ethereum was strong enough to see it home.

Here’s a screenshot of my successful trades that cover this and the previous blog post:

I think it was pure luck rather than analysis that got me there because at one point I was over $6000 in negative territory.

Come along for the ride as I try to learn how to trade my way to a profit!

If you are an experienced trader, any advice would be welcome. Let me know where I’m going wrong, or post some tips in the comments below.

Check out Stormgain at: https://fwd.cx/WmUzkey5BqVp

Looking for a safer way to accumulate and store bitcoin? This is what I use: https://freebitco.in/?r=37315680

David Hurley

#InspiredFocus

Disclaimer: I am not a financial advisor and this is certainly not financial advice. These are simply the musings of a rookie trader playing with pretend money…

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