So, i have this itch of speculating on BTC Price action and want to track my journey of how fast am i losing money. I also want to try couple of strategies, and the first one is something like this
Double or nothing
I will start lets say 0.1 BTC as a deposit and Open a long or short position with enough Leverage and a Stop Profit taking so i am getting liqudated or taking profit when price moves X amount either way. Example would be, Long now @ 8000 get liqudated if it hits 7800 or take profit if it hits 8200 first.
If i double, i will just obviously put 0.2 on, as the stakes increase i will probably go less crazy with leverage and look at it as long term thing. So lets say 10 BTC is on line at 8k, i would want to get liqudated at 6500 or take profit @ 9500.
Obviously most of the times, i will lose after couple of wins (if that) and happy to just keep adding 0.1 btc every time i lose. I don't have a stop loss in mind, but i would say as long as its under 1 btc a month, i can afford that.
I am new to the forum and do not know rules around such thread or posts.
Let me know!!!
So you're basically planning to light your money on fire? Interesting approach!
![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
"Trading Discussion" should be fine for a trading journal. If the thread were geared more towards price analysis, TA, etc. then I would say
"Speculation" is a better place.
Welcome to the forum, by the way.