Traders,
Strange times we live in. We have a government shutdown in the U.S., while at the same time stock markets have hit new highs. Actually, TARGET #3 on the SPY (my final target) has been nailed precisely after 2 and a half years of targeting it. I will produce a new video sometime this week on what may be coming next.
In the meantime, my stock portfolio has been on fire, achieving over 42% profit since implementing my indicator. I feel we are nearing a local top soon, and so, just in case this occurs sooner than I expect, I have sold half of my OKLA position for a meager 3% profit. The other half I’ll hold for a bit longer. UNH is still doing well. We’re at over 40% profit on that trade.
As you all know, my crypto portfolio has not done nearly as well. Two things on this:
First, this is mainly do to the fact that I have only been trading altcoins in anticipation of an ever-decreasing probability of an altcoin season.
Second, I am in the experimental stage of implementing my new indicator, and over the past year, I have learned the hard way that my indicator is most accurate on large-cap/high-volume traded crypto. Not on the smaller alts that I have been positioning myself into. I am making the mistakes so that when I release the indicator, you won’t have to make the same mistakes. That being said, I plan to stay the course and continue my entries into alts until alts at least make a half-hearted attempt to catch up to the big dawg, Bitcoin.
In that vein, I have entered two positions today. The first is in ATOM.
I have at 1:3 rrr in this entry, targeting around $5.50 with my current SL set at $3.88.
My second entry is into Livepeer:
This is also a 1:3 rrr, targeting around $11.70 with a SL of $5.
It’s ugly, but feel free to view my candid crypto portfolio by clicking the button below. I am one of the few that is attempting to present you a truthful portrayal of crypto trading. Many others will only post their wins, or they will manipulate the data in some way so as to look better than they actually are. I don’t do that here. I believe that will only hurt us all. When we are honest with ourselves, only then do we put ourselves in a better position to become better traders and to enable others to also become better traders by learning from our mistakes. We WILL eventually become successful at it all. This is why I do this.
I hope to one day show you all the patience, discipline, and consistency it actually takes to become a good trader. I also hope to show you that sticking to a plan, or a good indicator like the one that I have crafted here, will eventually pay off in winning trades. Until then, win or lose, we grind through.
Long-term and in the stock market, I have nailed every level. I mainly track the SPY here. Pay attention to the next video I put out on this, as we have now reached my third and final target. It is soon time that we begin to focus on preserving capital.
✌️ Stew
Smart move taking partial profits on OKTA even if it's just 3%. The risk managment approach of scaling out when you sense a local top is definitly more disciplined than holding everything and hoping for the best. I've been watching OKTA myself and the price action has been kinda choppy in this range. Given your indicator nailed SPY Target #3 after 2.5 years that's seriously impresive and builds confidence in your approach. The fact you're transparent about the crypto portfolio struggles while the stock side is crushing it is refreshing. Most traders would just cherry-pick the wins. Your point about preserving capital after reaching final targets is critical. Too many people get greedy at tops and give back all their gains. Curious what your longer term view on OKTA is if we do get a pullback from here. Would you look to re-enter or is this more of a tactical trade that's played out for now?