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We continue a series of publications on trading in order to understand in practice how much money can be earned. novice investor using only forecastspublished on our website. To understand how useful they are, we decided to conduct an experiment and simulate a situation in which a person who knows about trading only what you need to “buy cheaper and sell more expensive”, tries to get additional income in his spare time by investing part of his money in cryptocurrency trading
In our last publication, we set out a trading plan according to which we had to buy 3 LTC when the price rolled back to the area of 50.00 USDT and take profit in the area of 54.00 USDT.
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The trading plan, of course, worked, but the joy ofwe didn’t get the income, because our profit could be three times as much. Forecasts ForkNews could not predict a strong bullish momentum in the area of 62.00 USDT, so revenue was only $ 12 instead of thirty-six.
Now the price of LTC is consolidating in a narrowing range, in the area of support at the level of 78.6% Fibo (59.31 USDT), and in the near future it can roll back to the area of 54.00 USD.
Before the rollback, a false bullish breakthrough is possible, but so far we cannot risk even a third of our deposit in this situation in order to catch profit on continued growth.
We believe that it is better to wait until the price drops and build your further trading plan based on how strong the support level of 54.00 USD will turn out.