Going 3x this month for swing trading worth it? (Position closed, half price)

[adaseb]

There are certain methods like this that work very well when you are in a trending market. This is why many people got rich back in early 2020 and late 2021 because Bitcoin traded up hill the entire time.

So you would add to your profits and you would make a lot of money. However when the trend turned and when it got choppy like now those methods don’t work anymore.

[Oshosondy]

Bitcoin reached half the price today as it got to $22680, but the daily chart is already indicating that bitcoin may not go further for now (never misunderstood me, we all know that the time for all-time-high is coming). I mean just for now. Maybe bitcoin price would still hit $25000, I do not know because indicators are indicating that there could be a mild downturn in a way bitcoin may not hit $23000 for now before the next price uptrend, but I can be very wrong.

So you would add to your profits and you would make a lot of money. However when the trend turned and when it got choppy like now those methods don’t work anymore.

You will do swing trades towards the upcoming trend. It was a significant bear market, then best to go towards the bull trend, make some profit and leave the market for a while.

[Mpamaegbu]

Yes its quite risky. 3x leverage is a conservative I saw some with 50x to 100x and its movement could be way more profit but also a huge risk to being liquidated. $1k usd is a huge money, so thinking of using that on spot trading and risking it with potential multiplier on altcoins than a very dangerous approach of future trading.

Leveraging on 3x is very conservative like you've noted. It's almost like doing it the spot way. My thinking is embedded in the African saying – If one wants to eat frogs, one should eat the very rotund or plump ones so that one can thump one's chest when called a frog eater. If one wants to trade Futures, one should take the risk and not be lily-livered like a sissy. Lately, I'm beginning to develop interest in Futures trading. I play around 10x to 20x and it's not even of too much risk, provided there's always a SL to cushion any downside. Again, there's also that display window for liquidation level. So, it's not as if the risks are hidden.

[_BlackStar]

There are certain methods like this that work very well when you are in a trending market. This is why many people got rich back in early 2020 and late 2021 because Bitcoin traded up hill the entire time.

So you would add to your profits and you would make a lot of money. However when the trend turned and when it got choppy like now those methods don’t work anymore.

The strategy still works and is useful, but the realized profits made by traders are lower than during the bitcoin hype throughout 2020 and 2021. The profit targets each trader wants to achieve vary widely, so it doesn't matter if $1K is the initial fund for a $100 profit. I believe the OP's strategy can still make a profit, but so far I haven't tried it.

[Webetcoins]

a calculation that is always coveted of course, if it is true that bitcoin will achieve an increase in september according to the prediction by Oshosondy, but if it doesn't happen, of course it won't be a problem because it can be kept and waiting for developments in the following months when it will increase or at least according to the predicted prediction.

maybe if it doesn't match the prediction or even unwanted things happen where the price actually goes down, maybe it's just a loss of time and funds which ends up being stored longer. Of course, if it continues to decline, there may be an opportunity to continue to add more investment so that when there is an increase in the calculations that have been made, it will still happen as previously predicted, there will be no loss of time that has been made with the investment.

The price is getting close to $23k and once it's there I think 24k and 25k is also going to be easy. If it didn't happen yet, it won't be a problem as long as the price stays above 20k and not dip below it as that might give him a lose already. Keep in mind that he isn't investing so his funds can get liquidated automatically when the price fall on the limits that he set but for the investors, they can always wait longer and they continue adding more coins to their stash.

We can only lose money here if not gained, but we should not add in the time that we spend. In case we didn't earn anything, the return of it is still a knowledge and experience.

[Wind_FURY]

For this month? I believe not, unless there's a Black Swan.

What could that Black Swan possibly be? Perhaps something like Russia using nuclear weapons on Ukraine, starting a European War.

You can think war could lead to the fall of bitcoin, but what if it leads to the rise of bitcoin, people can see bitcoin an alternative to bank. Although, I do not know what can during during war, but if mining is not affected, possibly the price if bitcoin may rise.

Debatable, because European War with a possbility of nuclear weapons use would bring uncertainty to the markets, ALL markets including Bitcoin. If there was a pleb who truly believes that Bitcoin would not be affected by inflation, it's me, but I was wrong. Inflation brought uncertainty and bearishness towards the future.

Risking $1,000 to win $750? If you don't need your $1,000 for anything else, Buy and HODL. The next Bull Cycle will print like the Bull Cycle during 2015 - 2017. Remember this post.

This is not about holding discussion. Because you are a day trader, does not mean you are not a swing traders. Also because you are a swing trader, that does not mean you are not holding or planing to hold. See this as a speculation about bitcoin price in September. We all know that all-time-high would one day come. Bull run by 2024 is coming, but this is not what this thread is all about.

I was merely suggesting something for OP, ser. Agree or disagree, take it or leave it.

[Wind_FURY]

Leveraging on 3x is very conservative like you've noted. It's almost like doing it the spot way. My thinking is embedded in the African saying – If one wants to eat frogs, one should eat the very rotund or plump ones so that one can thump one's chest when called a frog eater. If one wants to trade Futures, one should take the risk and not be lily-livered like a sissy. Lately, I'm beginning to develop interest in Futures trading. I play around 10x to 20x and it's not even of too much risk, provided there's always a SL to cushion any downside. Again, there's also that display window for liquidation level. So, it's not as if the risks are hidden.

I wouldn't call x3 leverage conservative. Rather, it is already an above-average risk. The conservative risk is 1% of the amount of your deposit, this is often stated in various textbooks on investing and trading. But it is worth noting that we are talking about derivative risk, and in derivatives trading we cannot sit in the market forever, unlike spot, as we have a level of liquidation that can eat up our entire position. And in general, margin trading and such a word as conservative cannot exist together in principle.

It's truly gambling, BUT it's their money. If during the next bull market cycle happens in 2024, a small capital of $500 used for x3 to x5 leverage, and compounded and done with the correct rotation of trading profits from Bitcoin, to "acceptable/safer altcoins", to shitcoins. OP might find himself with more than $50,000 after the end of the cycle. That's if we assume that all of the trades are with "perfect timing".

[tvplus006]

...Assuming using $1000 for swing trading, but leverage 3x in long position, the liquidation price would be around $14000. Can bitcoin dip down below $14000?...

I don't understand why you are going to wait until the price reaches the liquidation level at which your loss will be $1000? After all, it is much easier to use a stop loss, which will help you save your deposit, limiting the loss to 2-3 percent. Margin trading without stop loss will definitely lead to the loss of the deposit.

[Piesel]

At this point it sounds like a good strategy. Also, if at all bitcoin price goes until 14000 you still have the option to add more funds to secure your funds from liquidation.
The chances of bitcoin going to 14000 are slim but as we all know, anything can happen in the crypto community.
But yeah, if bitcoin goes bullish then it will yield some nice profits from this strategy.

The op have a nice leverage and with a liquidation price of $14,000, it will take almost impossible for the market to pull back to that amount even though we're in a bear market and Bitcoin price is unpredictable. But this strategy looks decent to me although with high risk and potential profits. If you have taken a close look at the Bitcoin market since the beginning of September, you would have noticed that Bitcoin has built a strong resistance at the 20k level even though that benchmark have been broken last week when Bitcoin pull below $20,000 but even with that Bitcoin reclaimed back it 20k position and even touched $22,000 plus last week.

We must always have the risk mindset and only trade what we can afford to lose, future trading is hard for beginners, and there can easily lose money which is why it is better to trade with a small amount of capital.

[Yamifoud]

At this point it sounds like a good strategy. Also, if at all bitcoin price goes until 14000 you still have the option to add more funds to secure your funds from liquidation.
The chances of bitcoin going to 14000 are slim but as we all know, anything can happen in the crypto community.
But yeah, if bitcoin goes bullish then it will yield some nice profits from this strategy.

The op have a nice leverage and with a liquidation price of $14,000, it will take almost impossible for the market to pull back to that amount even though we're in a bear market and Bitcoin price is unpredictable. But this strategy looks decent to me although with high risk and potential profits. If you have taken a close look at the Bitcoin market since the beginning of September, you would have noticed that Bitcoin has built a strong resistance at the 20k level even though that benchmark have been broken last week when Bitcoin pull below $20,000 but even with that Bitcoin reclaimed back it 20k position and even touched $22,000 plus last week.

We must always have the risk mindset and only trade what we can afford to lose, future trading is hard for beginners, and there can easily lose money which is why it is better to trade with a small amount of capital.

Patience is the key to success. And I think OP has that mindset and a reason why he never uses stop-loss to protect from losing but rather they take the risk and wait for the ATH to come. It is how he strategies his trading and he must stick to it just to prove and make it possible, it is somehow possible as I believe it. Yet, it really needs more time to reach. So I guess OP must wait for another month to achieve his target and he really needs to be strong and committed to what he is doing, otherwise he fails.

[Wind_FURY]

If during the next bull market cycle happens in 2024, a small capital of $500 used for x3 to x5 leverage, and compounded and done with the correct rotation of trading profits from Bitcoin, to "acceptable/safer altcoins", to shitcoins. OP might find himself with more than $50,000 after the end of the cycle. That's if we assume that all of the trades are with "perfect timing".

In order to expediently use margin trading and leverage for such long distances, you need to open deals after the end of the global bearish trend, and not inside it. The bearish trend is not broken yet, we are inside the down price movement and the risk of the price falling below $18,000 is still too great.

Because of Bitcoin's volatility, and because of the risk of x3 leverage, that's probably with an assumption that you have gotten very lucky and did a "perfect timing" on the trade. But as plebs, we have already known that these are not very easy trades to do. It's probably easier to do during a bull market, but with leverage, debatable. You're giving the exchanges an opportunity to liquidate you.

[pawanjain]

At this point it sounds like a good strategy. Also, if at all bitcoin price goes until 14000 you still have the option to add more funds to secure your funds from liquidation.
The chances of bitcoin going to 14000 are slim but as we all know, anything can happen in the crypto community.
But yeah, if bitcoin goes bullish then it will yield some nice profits from this strategy.

The op have a nice leverage and with a liquidation price of $14,000, it will take almost impossible for the market to pull back to that amount even though we're in a bear market and Bitcoin price is unpredictable. But this strategy looks decent to me although with high risk and potential profits. If you have taken a close look at the Bitcoin market since the beginning of September, you would have noticed that Bitcoin has built a strong resistance at the 20k level even though that benchmark have been broken last week when Bitcoin pull below $20,000 but even with that Bitcoin reclaimed back it 20k position and even touched $22,000 plus last week.

We must always have the risk mindset and only trade what we can afford to lose, future trading is hard for beginners, and there can easily lose money which is why it is better to trade with a small amount of capital.

Patience is the key to success. And I think OP has that mindset and a reason why he never uses stop-loss to protect from losing but rather they take the risk and wait for the ATH to come. It is how he strategies his trading and he must stick to it just to prove and make it possible, it is somehow possible as I believe it. Yet, it really needs more time to reach. So I guess OP must wait for another month to achieve his target and he really needs to be strong and committed to what he is doing, otherwise he fails.

With the current trend in market it seems it will take a while for OP to get profits.
At the same time it is hard to say if bitcoin would be able to sustain it's price at $20k.
Bitcoin is falling to this price again and again and I fear that once this support is broken then the next support would be near $15k.

[dimonstration]

At this point it sounds like a good strategy. Also, if at all bitcoin price goes until 14000 you still have the option to add more funds to secure your funds from liquidation.
The chances of bitcoin going to 14000 are slim but as we all know, anything can happen in the crypto community.
But yeah, if bitcoin goes bullish then it will yield some nice profits from this strategy.

The op have a nice leverage and with a liquidation price of $14,000, it will take almost impossible for the market to pull back to that amount even though we're in a bear market and Bitcoin price is unpredictable. But this strategy looks decent to me although with high risk and potential profits. If you have taken a close look at the Bitcoin market since the beginning of September, you would have noticed that Bitcoin has built a strong resistance at the 20k level even though that benchmark have been broken last week when Bitcoin pull below $20,000 but even with that Bitcoin reclaimed back it 20k position and even touched $22,000 plus last week.

We must always have the risk mindset and only trade what we can afford to lose, future trading is hard for beginners, and there can easily lose money which is why it is better to trade with a small amount of capital.

Patience is the key to success. And I think OP has that mindset and a reason why he never uses stop-loss to protect from losing but rather they take the risk and wait for the ATH to come. It is how he strategies his trading and he must stick to it just to prove and make it possible, it is somehow possible as I believe it. Yet, it really needs more time to reach. So I guess OP must wait for another month to achieve his target and he really needs to be strong and committed to what he is doing, otherwise he fails.

With the current trend in market it seems it will take a while for OP to get profits.
At the same time it is hard to say if bitcoin would be able to sustain it's price at $20k.
Bitcoin is falling to this price again and again and I fear that once this support is broken then the next support would be near $15k.

Open position has some kind of interest to pay the funding rate for that round. I’m sure OP will suffer a lot from this funding fee he maintain the open position for a long time although Bitcoin price can easily recover above 20k level once there’s already a momentum in the market. The recent CPI result fck up the crypto market on this current mess but still there’s a chance that there will a good opening candle on October since this month is always showing a good gains.

[Zanab247]

There are certain methods like this that work very well when you are in a trending market. This is why many people got rich back in early 2020 and late 2021 because Bitcoin traded up hill entire time.

The opportunity is here again for many traders to add to their profits in the future if only they can embrace this opportunity to buy in this bear market and hold before the end of this year 2022 before they can supply to the bull market to make a passive profits. I think, this is a simple method many traders used to earn well in the future, which newbies can also apply it now by buy when the price is low in the market and hold to watch the market price until the price turn to bull before they can sell.

[Davidvictorson]

I experimented with swing trading for a while, but just on paper because I seldom ever risk real money on unproven tactics. I discovered that I lost more money than I made. Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

[palle11]

Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

This can be really profitable if you spot the trend and ride straight with it but if you unintentionally and luckily enter it you think that you are a professional because of the quick profit accumulation. This situation is a funny one, newbies that are lucky to ride the trend believe and expect it that way all the time but unfortunately the market is not this way because the next time may not be another lucky time. So yourself, you may have been lucky trading the trend, I have noticed that when you are new in trade, it present you that luck but continuing is not always sweet, then you don't need luck but working strategy .

[andriarto]

Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

This can be really profitable if you spot the trend and ride straight with it but if you unintentionally and luckily enter it you think that you are a professional because of the quick profit accumulation. This situation is a funny one, newbies that are lucky to ride the trend believe and expect it that way all the time but unfortunately the market is not this way because the next time may not be another lucky time. So yourself, you may have been lucky trading the trend, I have noticed that when you are new in trade, it present you that luck but continuing is not always sweet, then you don't need luck but working strategy .

luck will not come continuously, if we rely on luck then one day will fall. whether day trading or swing, both have their own characteristics. for beginners swing trading may be easier than day trading, and of course we have to practice a lot in order to have experience for the next trading base. it's best for us, besides daily trading and swing trading, we also make long-term investments, so that our sources of income can be arranged later when we can understand it

[Hypnosis00]

I experimented with swing trading for a while, but just on paper because I seldom ever risk real money on unproven tactics. I discovered that I lost more money than I made. Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

That was more intense and you can really feel the risk if you use real money and a reason why you should be careful with your decision, unlike what you have done - an experiment.

OP has the insights to achieve his goal, I know he thinks positively despite the situation. Likely, if you know how to position your trade and make it perfectly, that is certainly not possible to multiply his money. However, we can't expect that gonna happen nor do we rely on luck but with the use of TA and common instinct might it works well.

[Oshosondy]

I experimented with swing trading for a while, but just on paper because I seldom ever risk real money on unproven tactics. I discovered that I lost more money than I made. Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

It is good not to be a trader than to be losing money, trading is not easy at all, it can be time consuming, consuming data, become stressful. Yet people are using their money to trade. If loses occur, not good at all after sacrificing such things and time. Best to just hold at times. If it is some traders, they may still open the position, and they would be losing by now. Although, trading can be profitable if certain things can be considered and if traders are not going beyond the tactics, but trading is very much risky.

[Shasha80]

I experimented with swing trading for a while, but just on paper because I seldom ever risk real money on unproven tactics. I discovered that I lost more money than I made. Although I have had great success with trend following as a method of making money, day/swing trades are now too volatile for me to profit from.

It is good not to be a trader than to be losing money, trading is not easy at all, it can be time consuming, consuming data, become stressful. Yet people are using their money to trade. If loses occur, not good at all after sacrificing such things and time. Best to just hold at times. If it is some traders, they may still open the position, and they would be losing by now. Although, trading can be profitable if certain things can be considered and if traders are not going beyond the tactics, but trading is very much risky.

That is why trading is not for everyone, but for those who are willing to take risks. Volatile market movements and bear market situations make
trading difficult. Moreover, we must take the time to monitor the market regularly and continue to improve our analytical skills, so that we can
make the right decisions. Trading is not as easy as imagined, I've only been trying to trade for several years, but the amount of loss I experienced
was still greater than the profit I made from trading. As you said if indeed we have sacrificed time and money then the results are not good.
Then it would be better to just focus on long-term investment in potential coins, it has lower risk and everyone can do that, most importantly
have patience. Therefore, for now, I prioritize long-term investment over trading.