June 19, 2024

How much can you earn on trading to a novice investor. Part 88. Trading (continued)

How much can you earn on trading to a novice investor. Part 88. Trading (continued)

We continue the series of publications about trading in order to understand in practice how much you can earnnovice 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 outlined a trading plan according to which we were to buy 3 LTC when the price pulls back to the 50.00 USDT area and take profit in the 54.00 USDT area. 

The trading plan, of course, worked, but the joyWe did not receive any income, because our profit could have been three times greater. ForkNews forecasts were unable to predict the strong bullish impulse into the 62.00 USDT area, so the income was only 12 dollars instead of thirty-six. 

How much can you earn on trading to a novice investor. Part 88. Trading (continued)

Now the LTC price is consolidating in a narrowing range, in the area of ​​support at the 78.6% fibo level (59.31 USDT), and in the near future it may roll back to the area of ​​54.00 USD. 

Before a rollback, a false bullish breakout is possible, but we cannot yet risk even a third of our deposit in such a situation in order to catch a profit from 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.