How I made $9,000 USD PROFIT IN ONE DAY trading one crypto


#21

I think it’s a smart thing to do because what I’m trying to do is manage my trade with less emotion. When I enter the trade, I know I’ll accept 2% loss. If I’m not willing to accept that, I shouldn’t be trading.

As the coin rises, I set my stop loss with a wider berth initially until it gets about 3%, then I start tightening this stop-loss. Which is what I did with GRS and I got stopped out 3 or 4 times on it’s various dips. Which meant ultimately, that I took around 266% profit instead of something like 10x profit. But I’m fine with that because I was managing for my own profit targets vs. investing in the coin long-term.


#22

Thanks Jason for your feedback. No worries, I’m from Holland, we’re so used to rain :slight_smile:

I don’t see the title as “very deceiving”, but rather as something that could be slightly improved. Correct it was one crypto and not more than one (which is clarified in the article itself). So I have now updated the title to say “swing trading one crypto” (instead of swing trading cryptos).

I agree a 100%, people should be very cautious trying to emulate this.

In regards to that you disagree on putting it on a coin that you believe in, I partly agree, you should up front decide on if you’re willing to hold it or if you prefer your money to be accessible shortly. What I was trying to get across was that it is better to do this swing trade on a coin that you think mid term could go up, rather than jumping on an unknown coin, just because it is up 30%. But thanks for adding this point. People will have to think about this for themselves if they are comfortable with the downside.

I appreciate your opinion that you think I should share how much I invested, but I think people can figure out for themselves that it was not 500 usd and not millions of dollars either. It is more to show the concept and they can do the math themselves on what gains they can make doing what.


#23

Thanks for the perspective MW. I agree with you, with just relatively small (for crypto world standards) % increase, you can make great gains over time. People can be happy with 2% per day. At the bank they get 0% and you get hit with a 2%+ inflation per year.


#24

I’m sorry I can’t really comment on that as I’m not familiar with that term. Perhaps others can add some thoughts in regards to your question.


#25

thanks for the reply, ill keep looking into it. one thing i am sure of is emotion has to stay at the door as mw said


Why philosophy matters in the cryptospace
#26

Indeed :slight_smile: dfasd f dfasfasd


#27

Yup. One thing I should probably say…2% is my target and it’s my goal to get really good at identifying and closing 2% each trade. When I’m doing that, I’ll then move the bar to 3% then, hopefully 4%. I’m at the very, very beginning of learning to trade like this on a consistent basis, so learning to hit 2% > 75% of the time is my first major goal.


#28

thats a very interesting concept. do broadcast a live stream chat of how you do it so we can learn! thx!


#29

Nice work, I sometimes trade like this with coins that start to spike up, but wait for the next breakout point before making an entry with tight stop losses. The key is to not get greedy and have a plan for when to take profits or cut ya losses, otherwise you can get rekt (never go all in, I discovered that the hard way!).

Another problem is the stress and tension that comes with watching the charts all day lol, I try to avoid it now days otherwise I never get anything else done!


#30

My prediction is that OKcoin will have a massive run up in the next couple weeks/month and could bring some big gains like GRS. Charts look promising and I’ve seen a lot of volume coming in recently.

Just a hunch and I could be completely wrong, this is crypto after all.

[EDIT] I mean OKcash btw, not OKcoin (which is an exchange lol) doh!


#31

Hello Harry and thanks for this inspiring article!

I’m training myself for getting better with RSI and I’m just wondering what x-min candles are best for that? I’ve been using 1d, 4h, 1h and 30min. You said that you used RSI for 1min too, does it really work with 1mins also? What are the key differences when using shorter time period for RSI?

Thank you for your response :slight_smile:


#32

@HarryvdV Great write up! Definitely agree with making sure you swing trade with a coin you’re willing to hold. So many people get trapped in weird ones.


#33

Harry start your hedgefund! :money_mouth_face:

Great trades :+1:


#34

You definitely want a larger sample for RSI then 1 minute. especially with lower volume. RSI alone also is not a good indicator and should always be used in combination with other indicators. sometimes something is being oversold for a reason.


#35

Great write up man! I always enjoy reading about those USD gains @HarryvdV and have been starting to make some trades in the positive now too with the knowledge I’ve been gathering. I’m still going for that first 1 BTC though. What are your thoughts on doing this strat on more of semi macro level with a 1hr candles once to every couple days or once a week? Basically I’m scared not to have everything in BTC if i’m not there to watch the market.


#36

Awesome write up man. I’ve had a lot of success with the MACD and RSI combo as well, and I definitely don’t think it should be overlooked. Of course there are more factors that come into swing or day trading, but those are really good tools to use for entry points.


#37

Thanks a lot for this! I definitely think that investing in a coin you BELIEVE in is a big one!


#38

Thanks for your interest. Unfortunately I don’t be covering it in a live stream, so this thread will have to do.


#39

Good points. I only trade in morning, evening and weekend, I have a day job that I don’t want to suffer, as it is my own business.


#40

They are on my radar as well, thanks for the tip.