(Disclosure: I have trade positions in DSH, IOT & XRP. Long-term HODL positions include: BTC, ETH, XLM, and XRP. This is not a recommendation to buy or sell any currency.)
After a successful couple of months with gains of 2800% since October, I decided to split my portfolio into two. The first will be a trading portfolio while the second will be more of a HODL portfolio. The analysis provided below is on the trade portfolio only.
Each trade is risk adjusted to reflect portfolio capital at risk of just 2%. This means that when one of these trades stops out, my max loss will be limited to 2% of portfolio value. Trading with this style of risk management is profitable provided that greater than 30% of trades prove profitable.
Dash (DSH) appears poised for a reversal after consolidating on the Daily chart since December 20th.
Stop Loss: $1100 (moved to break even from $1050)
Iota (IOT) is a low-risk entry point near trend and moving average support. After consolidation since a high on December 19th, Iota appears ready to move again.
Stop Loss: $3.80
Ripple (XRP) has already had a fantastic run to close out the year. I’m skeptical that it will continue without consolidating for a few weeks. To that end, I have a quarter position with a tight stop in the event that it turns bearish.