Stormgain Crypto Trading Challenge Days 7-8: Steady Profits in Uncertain Markets

I just made a couple of trades over the last two days.

The first, on the 9th January, was a very straightfoward 30% gain on a $100 Bitcoin/USDT long trade with 10x leverage applied.

The second was a similar bid, $100 x 10 with the “Take Profit” option set to 30%, but it took longer to bring home as Bitcoin went into a steep decline from the $40,000 mark down to the upper $36k mark as I write this.

However, with $53,000 of demo money in the kitty, I felt pretty sanguine about setting the “Auto Invest” option to “ON” while leaving the “Stop Loss” “OFF”.

“Auto-Invest” Triggered!

I missed a chance to take an early $45 profit on the trade. I was only popping back onto Stormgain to check the situation from time to time and not staring at the charts all day. When I checked the price, it immediately declined, so I left the trade open and left it alone.

The last time I checked before going to bed, it had declined enough to trigger the “Auto Invest” and so $770 was not committed.

“Take Profits” Triggered!

When I checked the situation, first thing this morning, I saw that the trade had closed at the “Take Profit” (+30%) mark. BUT, instead of making the intended $30, the trade had yielded a $152 profit on a position that had grown, as the price declined, to $5,695.30 USDT, or just over 10% of my demo-trade capital as the “Auto Invest” kept pumping in more cash.

I feel fine with that as it seems to be bearing out the lessons I learnt in last week’s demo-trading experience.

So that is an average daily profit of $91 over the last two days, the bulk of which came from trading long in a market that turned out to be in decline.

Exact total profit so far = $3,236.18

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

#RookieTrader !

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

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