Day 9 Trading Update: Turning $5 into $100 Challenge
Today’s update brings a mix of setbacks and strategic adjustments. Here’s a breakdown of my trades and current portfolio status:
Trade Recap:
1. Pepe Coin (PEPE) Exit:
- Bought At: $0.00000796 per PEPE.
- Sold At: $0.00000764 per PEPE.
- Loss: -4.02% (due to short-term volatility and market dip).
2. Dogecoin (DOGE) Entry:
- Bought At: $0.18536 per DOGE.
- Quantity Acquired: 22 DOGE.
- Investment: $4.08 (22 × $0.18536).
Current Portfolio Status:
- DOGE Holdings: 22 DOGE
- Current Price: $0.19722 (up 6.40% from entry).
- Current Value: $4.34 (22 × $0.19722).
- Remaining USDT: $0.1165 (after PEPE loss and fees).
- Total Portfolio Value: $4.55 (DOGE + USDT).
Why I Pivoted to DOGE:
1. Meme Coin Momentum:
- DOGE has shown resilience, bouncing from its 24h low of $0.18154 to $0.19722.
2. Community Hype:
- Elon Musk’s influence and meme coin rallies could drive short-term gains.
3. Technical Setup:
- DOGE is consolidating near $0.19–$0.20, with potential for a breakout.
Trade Plan:
- Hold Strategy:
- Hold 22 DOGE until price targets are met.
- Profit Targets:
- TP1: $0.22 (11.4% upside → $4.84 total).
- TP2: $0.25 (26.5% upside → $5.50 total).
- Stop-Loss: $0.17 (8.3% downside risk).
Key Takeaways:
1. Cut Losses Quickly: Exiting PEPE minimized further downside.
2. Adaptability: Pivoting to DOGE leverages its stability in the meme coin space.
3. Patience: Small gains compound over time—stay disciplined.
Final Thoughts:
While the PEPE trade resulted in a minor loss, the shift to DOGE positions the portfolio for recovery. The goal remains turning $4.55 into $100, and disciplined trades like this will help us get closer.
Stay tuned for more updates, and let’s keep pushing forward!
*Disclaimer: This is not financial advice. Cryptocurrencies are highly volatile—always conduct your own research (DYOR).*
#Dogecoin #DOGE #TradingChallenge #RiskManagement #MemeCoins