+80000% Bitcoin Day Trading Challenge 2021 (Up +442% now)

[winrate.io]

Hello!

I decided to do an insane Day Trading challenge in 2021 starting now.

I will try to grow my day trading account from 100 USD to 80000 USD in 2021, growing it by +80000%.

The strategy that I will use is based on a very tweaked set of R:R, leverage and fees.

▶ WEEKLY UPDATES ON YOUTUBE:
https://www.youtube.com/c/JoelonCrypto/videos

My strategy:
- Starting Balance: 100 USD
- Technical Analysis (Triangles, Channels, Support/Resistance, RSI, Fibonacci, Macd etc.)
- Taking profit at 2% on every trade
- Cutting my losses at -1.8% on every trade (by using Stop Loss)
- Leverage: 15x
- Will use an exchange that supports low fees
- Estimated Win Rate: 66%
- Estimated amount of trades to reach goal: 180

I will also reply to questions. Wish me luck!

All the best,
Joel

[ice18]

Interesting challenge lets see if you will succeed and Im hoping for it also its an inspiration to us if ever really huge goal but why not already sub in yt channel so that I can follow your trades, goodluck with your journey I also want to do like this but Im afraid $100 is a little bit small for a $80k target but how knows.

[winrate.io]

Interesting challenge lets see if you will succeed and Im hoping for it also its an inspiration to us if ever really huge goal but why not already sub in yt channel so that I can follow your trades, goodluck with your journey I also want to do like this but Im afraid $100 is a little bit small for a $80k target but how knows.

Thank you mate! I think this can be done, 66% win rate is not an insane win rate. I know day traders who have 75-85% win rate, which is sick. But with my setup with the 1.8% stop loss and using the right leverage and low fees, I think it's possible. But lets see! Thanks for the sub as well <3

[Insanerman]

~

I will try to grow my day trading account from 100 USD to 80000 USD in 2021, growing it by +80000%.
~

Honestly, upon reading your title made me laugh and doubt with a curiosity of how could you do it, but with yourself disclosing your own identity in this forum? I then let myself hear on what you would say on the video. It's quite risky TBH yet with your safe plays and risk management, I see that you could really make it successful. Quite curious with how you've come up with your win rate percentage, is it from your past futures trades?

I'm quite interested with this and came up with the idea of trying the challenge as well, but I'm no analyst nor a day trader. Do you have telegram so I can contact you? I'll send you a PM here in the forum.

[Tstar]

Good luck with the challenge, you will need it!

I still believe that Technical Analysis does not apply to crypto where the market moves much stronger on the news, FUD, etc.

[JeromeTash]

Awesome! These are the kinds of threads we need here in trading discussion. I do trade futures but occasionally. I would definitely love to follow your trading journey from $100 to 80K  . This brings me to a question; Are you going to keep posting of Technical Analysis, trading history and results in this thread?

[JeromeTash]

Good luck with the challenge, you will need it!

I still believe that Technical Analysis does not apply to crypto where the market moves much stronger on the news, FUD, etc.

I still believe that Technical Analysis does not apply to crypto where the market moves much stronger on the news, FUD, etc.

Sometimes they do help though you are not supposed to rely on them all the time.

[winrate.io]

~

I will try to grow my day trading account from 100 USD to 80000 USD in 2021, growing it by +80000%.
~

Honestly, upon reading your title made me laugh and doubt with a curiosity of how could you do it, but with yourself disclosing your own identity in this forum? I then let myself hear on what you would say on the video. It's quite risky TBH yet with your safe plays and risk management, I see that you could really make it successful. Quite curious with how you've come up with your win rate percentage, is it from your past futures trades?

I'm quite interested with this and came up with the idea of trying the challenge as well, but I'm no analyst nor a day trader. Do you have telegram so I can contact you? I'll send you a PM here in the forum.

Thats funny! I totally get that you laughed at first, because the number is quite ridiculous but with the right setup it's actually possible. The Win Rate is based on my history with other similar strategies but also I set 66% win rate as a goal, because with a win rate at 66%, I'm allowed to lose 1 trade every 2 wins and I like lower win rate strategies. I think the pressure is too high when I set a win rate goal at above 70%. One month in 2019, I had a win rate at 87%, but I laddered in on some trades which I will not do this time.

I will not do any laddering and I will not take partial profits or anything like that. Just straight up 2% wins, -1.8% losses, thats it.

[crwth]

Awesome! I hope you succeed in that. Where do you plan to trade this? What exchange? I’m curious about how much capital you are going to trade per trade? Are you going all-in on this all the time? So the 1.8 stop loss would automatically be set up etc. And what time frame are you going to use?

[winrate.io]

Good luck with the challenge, you will need it!

I still believe that Technical Analysis does not apply to crypto where the market moves much stronger on the news, FUD, etc.

Thanks! In my opinion, if I blindly place random trades, it's about 50-50 that I will win or lose the trade, if my R:R is close to 1:1. The "only" thing I need to do is increase the chances just a little bit to my favour.

What I feel like a lot of traders misunderstand about Technical Analysis, is they expect it to be water proof and work every time.

If you watch my video, I'm talking about a 66% win rate which would look like this:

win
win
loss
win
win
loss
win
win
loss
etc.

So even if I am wrong (or the TA is wrong) 33% of the time, I will still succeed.

I agree with you that news, FUD, whales etc. creates the waves, but I'm trading these waves and even if I'm wrong 1/3 of the times, I'm all good.

I hope that makes sense.

Awesome! These are the kinds of threads we need here in trading discussion. I do trade futures but occasionally. I would definitely love to follow your trading journey from $100 to 80K  . This brings me to a question; Are you going to keep posting of Technical Analysis, trading history and results in this thread?

Thanks Jerome! I appreciate that!

I will post weekly videos on my YT channel where I will go through all trades and explain my thought process behind them. So you will be able to follow every step I take there.
This thread will also be updated with an overview.

Awesome! I hope you succeed in that. Where do you plan to trade this? What exchange? I’m curious about how much capital you are going to trade per trade? Are you going all-in on this all the time? So the 1.8 stop loss would automatically be set up etc. And what time frame are you going to use?

Thanks for the cheering crwth!

I would recommend you to watch my Youtube video (link is in the original post above) where I explain everything in detail.
I will mainly trade Bitcoin, but also some alt-coins. I will trade on Bybit.
Every trade will be my full account balance (starting with $100) x15 leverage. So the first trade will be 100*15 = 1500 USD. Then it will grow more and more. The maximum trade size I will do is 150k USD.

Yes, I will have an automatic stop loss at -1.8% on every trade, I'm not even allowed to enter a trade before the stop loss is added.

I will use multiple time frames actually. In upcoming Youtube videos, I will go through how I do the analysis. 15 min is one of my favourites, but I usually tab between multiple time frames.

Different scenarios require different time frames in my opinion. If a major resistance is about to have a breakout, then I use larger time frames, such as 4h+ but when the market is super volatile, and I just want to grab a quick 2% short, I might only look at 1 min time frame and the order book.

[SmithMoriss]

Do you use bollinger bands indicator?

[mrob82]

Question, are you going to adjust stop loss if you pop a 2% gain to let it ride - or are you going to strictly close out the trade 2%.

[winrate.io]

Do you use bollinger bands indicator?

No, I'm not actually. For some reason I've never gotten into that indicator. I feel like I don't need it.

Question, are you going to adjust stop loss if you pop a 2% gain to let it ride - or are you going to strictly close out the trade 2%.

I would recommend to watch my Youtube video where I explain most of my strategy. I will post more videos with more details of course, but the first video covers the foundation.
https://www.youtube.com/watch?v=mqTq8IEghYM

The short answer to the question is No, I will not adjust the stop loss or take profit. I feel like it's much easier to follow-up on the results and see where I need to improve if I keep the same R:R every time.
When traders manage the stop loss and take profit manually, it's so common to cut the wins too early but keeping the losses for too long.

Also, having the same R:R on every trade keeps my emotions in check as well. Plus, it's a lot less time consuming to trade when I don't have to manage each trade.

I will get in, then close the charts and do something else. Then I will get a notification when the trade is either stopped out - or profit is taken. Then I can look for another trade.

I hope that helps

[mrob82]

My only fear during times like this, or maybe fear is a bad word - maybe intrigue, is that with the volatility I am actively managing trades with the wild swings.  You could miss out on a lot of profit if you are closing trades out too early.  Same thing applies to option traders in the stock market.  Let the wins keep running and wait until their are cooling off and setting some type of daily support before exiting.  But too each their own.

Good Luck.  I will definitely be following and subscribing on youtube.

[Mpamaegbu]

I will also reply to questions. Wish me luck!

All the best,
Joel

I wish you all the best in that endeavour, Joel. I know you want to use compounding to grow your capital base, ploughing back your profit into your trades without withdrawing them. However, my reservation is on the low capital and the 2% profit range you want to indulge on each trade. I believe the percentage is small and will not be the best strategy to grow at the rate you're projecting if you were to meet up the target of $80,000 for the year. Why not allow the profit run and then concentrate on your SL more.

[winrate.io]

My only fear during times like this, or maybe fear is a bad word - maybe intrigue, is that with the volatility I am actively managing trades with the wild swings.  You could miss out on a lot of profit if you are closing trades out too early.  Same thing applies to option traders in the stock market.  Let the wins keep running and wait until their are cooling off and setting some type of daily support before exiting.  But too each their own.

Good Luck.  I will definitely be following and subscribing on youtube.

I totally get your fear/intrigue, but I've tried a lot of different strategies over my 4-5 years of day trading, and this is what have worked best for me. I will explain the math behind this decision in future videos as well. Let me ask you, did you watch the video?

All the best,
Joel

[ice098]

I totally get your fear/intrigue, but I've tried a lot of different strategies over my 4-5 years of day trading, and this is what have worked best for me. I will explain the math behind this decision in future videos as well. Let me ask you, did you watch the video?

All the best,
Joel

Goodluck mate. I personally have my own challenge as well, like you I started this year with 100usd and my target is from 5usd a day to 10usd a day soon but in futures, I will be more patient this year because 2020 gives me a lot of heartbreak from failed defi investment,losses in gambling and being victim by fomo, so from this month onward I need to apply all my lessons this year, well best of luck to both of us mate, see you after 11 months, hope we reach our goal.

[error08]

I find it quite amazing after checking your site https://www.winrate.io/?80000-strategy starting from $100 and grows to $64,220 then realized that just a simulation after watching the video, hopefully this works really well for you in reality.
Notice the price movement today, the day's range fluctuates from $32,327 — $37,800. So I assume you have made a good profit so far, waiting for your portfolio in the next week.

[monatana]

good luck: d I am so curious about the results of your challenge, don't forget to share the results of this challenge later

[cryptoaddictchie]

Finally a good and interesting thread on trading experience. Your video is cool man. Merit for this cool introduction, I also followed some challenge users on twitter and honestly I cant help but get inspired by the likes of you. Currently watching the video and really you are good on explaination.

Will also try this sometime. Just subscribed to your channel last night. Seems good to follow and watch your videos, looking forward to result as well.