Day trading diaries – April - week 1 of month 2 slower but still up
To keep record of my day trading challenge for myself, I’m making these blog posts along the way. This also provides a record for others to compare notes and learn from my experience. I want to see how well I can profit over the current year in my self-taught day trading skills. Last month of March was my first month and by the end of the month I was up a record 6x in profit, from trading just one pair, WAXP/BTC on Kucoin exchange. I was able to turn around 7000 sats of bitcoin into around 42000 sats. It’s only around $20 but that was still 6x and was merely my test run to see how well my strategy worked and how sharp my skills were. The pair proved t o be a good trade setup and my range trading paid off. With 30 trades over the month, consisting of a buy and sell, I managed to make the 6x by a trade or two a day every day for a month.
At that point it looked like my strategy was working so I did what experienced traders recommend and I added to my trading stack. My writing publications on the Publish0x site paid me for my blog posts directly into my Kucoin wallet so Iwas able to add that extra 33000 sats to my overall total so far. It only amounted to another $20 roughly, but it lifted my potential. Now with a total of 75000 sats, or 0.00075000 BTC, I continued my day trading strategy.
The first 9 days of April so far have been less profitable for me compared to the blistering pace of last month, but overall I am still up, accumulating another almost 30000 sats, or just under 50% profit on my overall stack. This has taken me from 75000 sats at the start of this month to today’s total of 104500 sats, or 0.00104500 BTC. In this way I’m still in profit and doing ok, although my pace has slowed.
The first few trades of April with my new Publish0x writing payout added, were a bit shaky and I made very little. But then I settled into the usual swing trades from support to resistance in the daily range on the 15 minute chart, and made some more profits. I still use the Stochastic as my favorite indicator on the 15 minute chart. It has been working extremely well for me. Every day I can make a trade or two and capture anything from 4% - 10% profit in a day from those two sets of trades (buy and sell being one full trade).
With the added sats my balance is able to jump up in higher increments. The use of compounding the profits into the stack to trade further, is really working well. Overall this strategy is solid and now that I’ve found one that works, I need to simply put in the time and effort observing the chart like a hawk to catch the moves in real time.
The helpful whale traders in this low cap altcoin with low liquidity has really made for buy and sell walls in the order book, so I continue placing my bids and sells just one step before the buy or sell walls. This has been working very well as a key part of the strategy, and it looks like this is how these small altcoins can be maximised for day trading profits. I’m not riding the uptrend or downtrend. I’m riding the range on the day regardless of the overall long or medium term trend. This is clearly visible to me on the Stochastic momentum oscillator to the upside or downside, as well as using the whale’s buy and sell walls for backing in my positioning of each trade. This system has been working solidly for 5 weeks now and this is my sixth week.
As I increase in confidence with this system and add to my stack a little each month, to supplement the overall trading profits, the stack can grow in size in bitcoin terms. It makes accumulating easier as I go along. My long term goal with this day trading challenge is to accumulate as much sats of bitcoin as possible, and this little altcoin just happens to offer the ideal trade setup for me to do that.
So it’s not about the coin as much as the setup in the chart of the coin that is important in this particular strategy. The pattern in this chart is readable and predictable, with the right ingredients for me to catch daily chunks of profit. I may not have as good a month as I did last month, but the overall growth is happening, so I will ride the momentum at it’s own pace. I will add more capital to the stack each month as I did this time, and even if I double my sats or 100% instead of 600%, that’s fine for this month, with 20 days to go.
I will keep you informed and update this record occasionally so stay tuned for more milestones on the day trading challenge to see how long it takes me to reach 1 bitcoin without adding any fiat, only monthly blog earnings. It may be closer than I think. As long as the bull market cycle continues, it will be slightly easier I presume. Time will tell and the effort is paying off so far. It takes time and effort but with the right mentality and lifestyle, this can be a full time income to add to the other income streams like blogging and selling art.
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