SteadyCompound #1 Newsletter: Week 23.10.23 - 29.10.23
Welcome to SteadyCompound 1st Newsletter,
A few notes about my approach to nowadays trading
- I am a retired trader (2008-2018). I day-traded high frequency time-frame across Stock (2008), Bond Futures (2010), Forex / Gold (2012), Commodity e.g. Brent, Gas (2015) and Crypto (2017)
- I turned start-up cofounder (2020) and recently gained financial freedom (2023), which define my approach to now "trading as a hobby": refrain from over-trade and opt for high probability trade only with high R/R, clear indicators and peace of mind
- My goal is to steadily compound wealth and accumulate Bitcoin long-term
Trade Ideas for Week 23.10.23 - 29.10.23
1. Range has been stable for 6 months within 25K - 31K territory so we can exit our long at high 30k - low 31K
2. Taking Short Position at high 31K e.g 31600 is our SC "SteadyCompound" trade:
- short into the down trend / RSI oversold +75 / year-high 31K resistant / low volume spike for 2.7 R/R ratio, targeting above 27K
- hard-stop of 5% at right above 33K e.g 33113 (there is another resistant range at 31K - 33K formed during 2021-2022 which possibly allow us to scratch / take small loss on our short position)
#steadycompound #financialfreedom #tradingstrategy #systematic #bitcoin
p/s repost for Binance Exchange
A few notes about my approach to nowadays trading
- I am a retired trader (2008-2018). I day-traded high frequency time-frame across Stock (2008), Bond Futures (2010), Forex / Gold (2012), Commodity e.g. Brent, Gas (2015) and Crypto (2017)
- I turned start-up cofounder (2020) and recently gained financial freedom (2023), which define my approach to now "trading as a hobby": refrain from over-trade and opt for high probability trade only with high R/R, clear indicators and peace of mind
- My goal is to steadily compound wealth and accumulate Bitcoin long-term
Trade Ideas for Week 23.10.23 - 29.10.23
1. Range has been stable for 6 months within 25K - 31K territory so we can exit our long at high 30k - low 31K
2. Taking Short Position at high 31K e.g 31600 is our SC "SteadyCompound" trade:
- short into the down trend / RSI oversold +75 / year-high 31K resistant / low volume spike for 2.7 R/R ratio, targeting above 27K
- hard-stop of 5% at right above 33K e.g 33113 (there is another resistant range at 31K - 33K formed during 2021-2022 which possibly allow us to scratch / take small loss on our short position)
#steadycompound #financialfreedom #tradingstrategy #systematic #bitcoin
p/s repost for Binance Exchange
交易结束：到达止损:
Good News:
Price spiked to $35k on the news that "BlackRock has told the SEC it will seed its spot Bitcoin ETF in October in preparation for approval i.e Seeding an ETF involves obtaining initial capital, usually from a bank or broker-dealer, to buy several creation units, such as #Bitcoin in this context."
Not-so-good News:
We got stopped out at the 11% bitcoin jump move. Now we wait for this move to settle to assess the new chart
In the meantime, this may have triggered the accumulation phase for BTC (not at this price, not right now though). I will cover it in our Linkedin and Twitter posts
Updated my tradelog
Price spiked to $35k on the news that "BlackRock has told the SEC it will seed its spot Bitcoin ETF in October in preparation for approval i.e Seeding an ETF involves obtaining initial capital, usually from a bank or broker-dealer, to buy several creation units, such as #Bitcoin in this context."
Not-so-good News:
We got stopped out at the 11% bitcoin jump move. Now we wait for this move to settle to assess the new chart
In the meantime, this may have triggered the accumulation phase for BTC (not at this price, not right now though). I will cover it in our Linkedin and Twitter posts
Updated my tradelog