Hey guys, I been in crypto since 2017. I have attempted day trading a couple times but got burnt a little and gave up. Im familiar with trends and some TA. But I never day traded 100k before. So I decided to give it a try. I decided to trade Polkadot it was new and on uptrend but somewhat flat. I was trading on the 1 minute chart. My plan is, get 1 trade a day right, make 1000-2000 dollars in 5-15 minutes and get off work. Well I made 3k today off 2 trades. Maybe I was just lucky. So throughout the day I practiced without actually using any money. Called all of them right with Link, BTC ETH and XRP. Made some more calls correct with polkadot on its downtrend. I just zoom out and look at the trend and resistance levels.
Im conflicted honestly. I am originally an investor. I want to do both, but this money I was trading was actually a good portion of my long term portfolio. reason why I am doing this is because in crypto I feel like we are in a bubble again for some of these defi coins like chainlink running up from $1 to $20 and Lend basically 100x. Its nuts in crypto right now. So I went into a stable coin and bascailly got the idea to try trading.
Im just looking for advice. Maybe stick to my long term positions and work for another 2 years and save up another 100k, maybe my investments will moon again, and then Ill have 100k again to trade (at this point screw real estate and dealing with nasty tenants!). I will definitely continue to practice trading. I just see this possibility of quitting my 9 to 5, but I want to invest long term too. What would you do? Stick with the long term investments or turn my portfolio into a trading machine?
I dont want to day trade $10,000 and try to trade 40 times in a span of 8 hours. That sounds dumb and you might as well be at work. I need a $50k - $100k stack. 1 trade per day done and over less than 20 minutes. Trading on the 1 minute, should be over under 5 minutes.
Edit: was wrong on 1 call when practicing, but it came through within 20 minutes. Would of been a +$600 trade on Chainlink.
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