2 BTC to 20 BTC Trading Challenge - Day 2 (2 BTC)

Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. Please be advised that I trade on high leverage and am comfortable with the risks. What you do with your $ is your business, what I do with my $ is my business.

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Phew, today was a very long day of work. Felt like I was red lining from the moment I woke up until now! That’s okay though because I love this stuff... not to mention I've had a few ice cold Montucky Cold Snack's and recently ate a delicious dinner.

Usually it takes me weeks to find the entries that were staring me in the face today. It can be frustrating when good entries are hard to find and it can be kind of intimidating / distracting when signals / alerts are going off left and right.

This challenge is either going to get started with a bang or I am going to dig myself into a deep hole with the positions opened today. Only time will tell! Either way I am feeling very good and I am very excited about the volatility that appears to be starting / continuing, especially in the traditional markets.


Open Positions

Long: XBTM19

Price: $3,727
Projected Risk (due to horizontal support): 6.34%
Leverage: 10X
Exposure: $3,737
Margin: 0.1 BTC
Unrealized PnL: -0.0032 BTC
Realised PnL: +0.0002 BTC

Notes: Longed future with the latest expiration date due to the backwardation. I could sell spot to hedge but that isn’t how I roll.

Long: XRPM19

Price: 0.00009702
Projected Risk (due to horizontal support + 33 MA): 6.37%
Leverage: 10X
Exposure: 5,668 Ripple
Margin: 0.054 BTC
Unrealized PnL: -0.0053 BTC
Realized PnL: -0.0013 BTC


Long: USDTRY

Price: $5.55804
Projected Risk: 5.66%
Leverage: 100X
Exposure: 0.16 lots ($16,000)
Margin: 0.048 BTC
Unrealized PnL: -0.076 BTC


Long: USDZAR

Price: $14.48
Projected risk (Parabolic SAR): 2.41%
Leverage: 100X
Exposure: 0.12 lots ($12,000)
Margin: 0.03289 BTC
Unrealized PnL: +0.008 BTC

Long: USDHUF

Price: $284.46
Projected Risk (Parabolic SAR): 1.80%
Leverage: 100X
Exposure: 0.12 lots ($12,000)
Margin: 0.03131 BTC
Unrealized PnL: -0.003 BTC

Short: SPX500

Price: $2,478.30
Projected Risk (horizontal resistance at $2,526): 1.93%
Leverage: 100X
Exposure: 0.16 lots ($39,600)
Margin: 0.104 BTC
Unrealized PnL: +0.00786 BTC

Short: EURUSD

Price: 1.13387
Projected Risk (expecting 33 MA to become resistance): 0.6%
Leverage: 100:1
Exposure: 0.32 lots ($32,000)
Margin: 0.084 BTC
Unrealized PnL:

Notes: Do not like the EURUSD projected risk that I used and thus the exposure that I have. At a minimum I should have gone more than halfway above the 50% mark of today’s marubozu, which is also above all the MA’s and horizontal resistance. If this goes against me it could end up costing me a lot more than I want / expected.


Watchtower

ETHUSD: I am bullish until Constantinople Hard Fork. Buying the hype, and selling the news. Consensio is bullish but waiting for c&h to confirm + TL breakthrough. Also waiting to enter due to price being up > 8% in last 24 hours combined with unfavorable r:r.



ETHBTC: Weekly Descending triangle that found support from prior ATH’s. Expecting huge volatility once it breaks. Passing on entries until a daily candle closes above or below.


XAUUSD: Watching for resistance from trendline leading to a breakdown of the parabolic advance.