July 21, 2024

How much can you earn on trading to a novice investor. Part 94. Trading (continued)

How much can you earn on trading to a novice investor. Part 94. Trading (continued)

We continue the series of publications about trading in order to understand in practice how much you can earnTo understand how useful they are, we decided to conduct an experimentand to simulate a situation in which a person who knows only what needs to be done about trading is to "buy cheaper and sell higher" in his spare time.It's time to earn extra money by investing part of your funds in cryptocurrency trading.

After last Wednesday on the Binance exchange, the price of Litecoin set a weekly high at 48.54 USDT, the pair quickly rolled back to the support of 44.00 USDT the next day.ForkNews' forecasts for January 10 suggested that thisThe level may keep the pair from falling further. 

How much can you earn on trading to a novice investor. Part 94. Trading (continued)

Observing the price, which did not fall below the level of 44.20 USDT for a long time, we decided to place an orderto buy at the rounded rate of 44.00 USDT.There was a risk that the price would not go lower, but in the afternoon our orderto buy 3 LTC at the rate of 44.00 USDT was executed.was set at 43.00 USDT.In case of a breakout of the 44.00 USDT support, we decided not to participate in trading.However, during the day, buyers increased volumes, and the price tested the 61.8% Fib level (51.38 USDT). 

In the next forecast dated 13.01.2020, it was indicated that a re-test is possible in the near futureresistance of 78.6% Fib (59.31 USDT), and today's publication says that the growth continues after a retest of the support of 54.00 USDT.Therefore, we move the Stop Loss level to this level. 

We believe that at the resistance level of 64.00 USDT, the growth may stop.In this case, it would be correct to set the Take Profit in advance at 63.50 USDT. 

We will talk about the results of our trading experiment in the next publication.