Here is where we stand with our most recent Bitcoin trading
We purchased 19 units at an average of 8,666
We sold 1 at a gain of 1,125 and sold 6 more with a gain of 509
That leaves us with 12 of 19 possible units of risk exposed on this trade.
Now we will purchase those 7 units of risk back at 7500 or better.
If we are filled, our average price will be 8,236.
We will look to sell 7 units 10% higher than our average, that means when you get filled, put in an order to sell 7 at 9059. Besides 10%, that is also the approximate location of the declining 10 DMA. Remember, this is NOT TREND TRADING, it is our “pullback” allocation of Bitcoin capital.
If you are following along with this crypto trading, this is how we are trading it. It is not a stock, it is not trend trading (for 38.2% of Bitcoin capital) and it is risky.