Another crazy day today but I made it through in relatively good shape.
Sometimes preserving capital while scaling in is the name of the game.
So I posted before I was scaling in which I did. I said keep a tight stop, and I did (1%very tight). I moved in to about 25% positions over 2 hours. We then had a small dip. Most of that position stopped out.
Leaving 2 LTC from about 87.
I woke up to my chart alerts going crazy, kind of early on a Saturday. We took off rolled up about 13% on LTC. I also had BCH positions the night before but they all stopped out. BCH is a wild ride. It swings for the fences.
I ended up getting a few more BCH in the 300s, It hit the top dumped back down THE ENTIRE MOVE I cost averaged from about 327 to 311. Over 3 coins. Basically break even right now. Kinda want off the ride but I believe we are making bigger moves on this coin because we are in the price gap during the BSV fork. We are building supports as we move up through this range but we have no recent resistances until 380. I am giving this position a reasonable stop and going to see what happens Sunday/Monday. It is currently in taco money profit.
Before you think I should have stopped out, hold on, the reason I missed the initial 18% bch move is because I kept too tight a stop. I was never more than 3% down as I cost averaged so not too bad. Not good but I feel good about remaining calm and controlling my averages such that I have not taken a loss and I still have a great risk to reward.
Back to LTC. Bought and sold bought and sold. Broke even for the day. Holding a small position still that is in profit. We are too close to that 100 mark resistance to sleep on this coin and we just entered the fiscal quarter before block reward having. Take it with a grain of salt if you like but this is important in my mind so I think I will let this position have a bigger stop and see what tomorrow and Monday bring if we just keep chopping.
I have not reached my full 50% position yet.
I could have traded LTC better but I got greedy after most of my position stopped out before the move. I’m ok with breaking even considering how the day went.
Interesting event
ETC --- WOW what in the world is going on with that. Up 104% then back do 40% of that move. Now holding around +55%. Not sure if I like seeing this or not. This happened in about a 15 min span.
ALSO
I have a nifty excel spreadsheet I use to calculate all my averages, stop losses, profits, losses as I trade. If you don’t have something like this, you should. It’s very helpful for managing multiple positions to keep yourself diversified and in line when things get hectic. It aggregates the totals at the end for everything. I will send you mine if you want. FREE lol just hit me up
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