Trading Case Study: How I Earned a 248% Return on Cloakcoin in only 16 Hours
cloakcoin·@freeforever·
0.000 HBDTrading Case Study: How I Earned a 248% Return on Cloakcoin in only 16 Hours
<html> <p> Hi fellow traders, On June 5th, 2017 (10 days ago) I noticed a great profit potential in Cloakcoin. It all started with a video I watched on Youtube where Greg Hunter interviewed Clif High and Clif mentioned that he had 2 favorite long term coins that he valued high that were anonymous. </p> <p>The first one was Monero, that felt good since I already owned that one as an investment. However, the other coin he mentioned was Cloakcoin and I have never heard of that one, remember, there are more than 700 different cryptocurrencies today and many with a very low market cap. </p> <p>Anyways, what I did straight away was that I went to Bittrex to have a look the chart. I noticed that it had already started to climb so I decided that I had to follow this one develop. I also went to Coinmarketcap.com to have a look at the market cap and I believe it was around 5-10 million USD which was way lower than Monero with a market cap of around 500 million at that date. </p> <p> So, I went on watching the 5 minute chart and noticed that it climbed a lot in a very short time. Then I decided this, if the price will go down and touch the lower bollinger band, I will go in and make a trade. At this time the chart looked like this:</p> <p><img src="https://i.imgsafe.org/2d22b05465.png" width="1192" height="455"/><br> And amazingly, the price plummeted and real quick as well, first it peaked at above 0.0013 BTC and then it fell all the way to 0.00056 and I was able to get in at 0.00058, almost at the bottom. So, what would happen next? Well, my plan was to ride this trade until it reached its earlier peak at 0.0013 and sell as soon as I got a negative candle stick on the hourly chart. </p> <p>So here is what happened, this is the hourly chart:</p> <p><img src="https://i.imgsafe.org/2d27b7b6aa.png" width="1199" height="454"/><br> But the thing is that I had to go to bed so I decided to sleep and see what happened the next morning. As soon as I woke up the price was already above my target (more than 0.0013 BTC) so I made the decision to just ride along after first negative candle and that one came at 10.00 and then the price was 0.00144 BTC.<br> </p> <p> So, how profitable was this trade then? Well, I put in the equivalent of 800 USD and here is the calculation:</p> <p>Initial investment (entered): 800 USD at hour 18.00 (Price: 0.00058)</p> <p>Total amount (exited) : 1984 USD at hour 10.00 (Price 0.00144)</p> <p>Profit: 1184 USD<br> </p> <p>So, what can we learn from this trade? </p> <p>Well, usually if there is a major move up and real quick and you have missed the move, the price could fall significantly and fast as well and that could be a good entry point. Also, the bollinger band is a really useful tool which can be used in both the entry point and the exit point in combination with candle sticks.</p> <p>If you want to buy Cloakcoin you can go here, I think it is a great long term trade as well. </p> <p>https://bittrex.com/Market/Index?MarketName=BTC-CLOAK</p> <p>Happy trading!<br> </p> </html>