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”.
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
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This post was first published on my blog @ https://davidhurley.net/stormgain-crypto-trading-challenge-days-7-8-steady-profits-in-uncertain-markets/
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…