Embracing Altcoins in Trading
Over the past few weeks, my trading strategy has taken a delightful detour into the world of altcoins. It’s like venturing into a bustling flea market after living in a minimalist studio apartment. This entry in my trading journal highlights a new position in VeChain (VET) and a tactical buy on Stellar Lumens (XLM), while I maintain my long position on Bitcoin (BTC) that I snagged just shy of $9,000. Spoiler alert: Price movements lately are as exciting as watching paint dry, but with significant potential lurking behind those price walls.
Charting XLM: A Closer Look
Setting up trades can feel like picking the right spot in an awkward family photo—timing is everything. Let’s break down my approach for XLM/BTC:
- Entry Points: I placed entries at 0.00000800, 0.00000870, and 0.00000797 sats.
- Targets: I aimed for 0.00000940 and 0.00001044 sats.
- Stop Loss: Initially set at 0.00000781 sats and then adjusted as needed, because why not shake things up when charts dare you to?
- Risk to Reward: Target 1 features a 7.37 ratio while Target 2 boasts a glorious 12.84—who doesn’t love those odds?
From FOMO to Strategy: My XLM Entry
Alright, let’s rewind for a moment. A fellow trader in the TexasWest Capital Discord inspired me to look at XLM, declaring my potential entry point at 0.00000797 as pure gold. Then came the announcement: Stellar Lumens would burn 50% of their coin supply. Suddenly, FOMO surged; it was like hearing there’s free pizza in the break room. My alarms chirped, and I compromised my usual allegiance to the long-term plan; I had to capitalize! As it turned out, the price danced upwards like it was auditioning for ‘Dancing with the Stars’.
Trade Adventures: Profit and Pains
After entering at 0.00000800, I quickly took profit at my first target of 0.00000940, yielding a dear 17.5% gain on half my position. However, the excitement was bittersweet: after re-entering at 0.00000870, I faced the cruel reality of market whims, resulting in a full stop out. Still, I walked away with 8.75% profit, reminding me that in trading, sometimes you win, and sometimes you learn—preferably not sitting on the floor, weeping into your charts.
Revisiting XLM: Second Chances
Seeing the potential for another round, I planned a second XLM trade. Here’s the updated dance card:
- Entry: 0.00000797 sats (did someone say déjà vu?)
- Targets: 0.00000940 and 0.00001044 sats
- Stop Loss: Same old reliable—0.00000781 sats
- Risk to Reward: Aiming for 8.94 and 15.5 ratios respectively.
I anticipate a bumpy ride, and I’m here for it. If this support holds, I’ll be back bragging about my newfound XLM riches in future updates!
Venturing into VeChain
I had my eye on VeChain (VET) for months, longing for the sweet moment to initiate a position. I pulled the trigger at 0.00000050 sats because it screamed ‘Opportunity!’ Fortunately, this was right after a successful retest on the 4-hour chart. I’ve targeted a few resistance levels for short-term gains:
- Targets: 0.00000062, 0.00000080, and 0.00000102 sats
- Stop Loss: 0.00000781 sats on breakout to keep my gambling spirit in check.
- Risk to Reward: My dream ratios of 8.94 and 15.5.
Half my position has already seen a sweet 24% gain. Not too shabby, huh?
BTC: The Rollercoaster Ride
Now let’s talk about my tumultuous relationship with Bitcoin. I stopped out of a two-week position this morning, licking my wounds from a minor 1.2% loss—just a reminder that sometimes the market doesn’t care about your wishes to hold on. But rest assured, I had opportunities to take profits along the way, so I can’t really blame the market entirely—just my lack of discipline!
The Additional Trades Shuffle
Just for the sake of saying ‘keep your friends close and your assets closer’, I’ve also entered a new position in Harmony (ONE) and still hold onto Dogecoin (DOGE) and Holo (HOT). They’re on my radar, and I’ll share juicy updates as the market reports come in.
Until next time, may your charts be colorful and your trades profitable!
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