Yo guys,
so here is an update with the small account we have been trying to grow.
This challenge started over the weekend. You can appreciate it was the worst time to start. Choppy price action, no clear direction…You noticed that the account was fluctuating between $477-$630. It was like this was a psychological barrier…
Then we saw some success on Monday where the account managed to grow up towards $889. But then i took an entry and the account took a hit of $300 which brought the balance down to $577.
It was at this point where i decided to go long and hold a position over night.
The trade worked out well for us and we relased a profit and the account went to $1081. Then earlier today, with Bitcoins movement, took another trade and the account rose to $1486.
What can we learn so far?
Pay your self…You have witnessed how many instances where by opening large positions, that the account cannot withstand, can create instances where you can lose a large percentage which will be difficult to recover back.
You noticed that through todays price action, everything seem to be going the way we wanted it to…Notice how most money is made on days like Tuesday Wednesday and Thursday.
You may be thinking, why did i trade the weekend. Well i wanted to demonstrate to you how difficult it can be when the markets are low on liquidity and how you can break even and be down during these times of the week…Which is why we stick to the normal trading hours…When banks are open, thats when we trade.
Tomorrow is a new day guys…Let’s see what the hunt will bring.
See you tonight
Mad Love
T
