Trade ist aktiv:
As planned, I immediately put two 20% buys into GNO after posting this idea at .02359 and .02356. I then set 30% buy limits that did not execute at the support and channel floor so I'm only 40% into this one and that's ok. I removed the channel floor buy limit and I'll keep the support limit in place until it's obvious GNO is not reversing OR I find a better place to put that money with greater certainty of a similar return. As for timeline, it depends on volume. Right now it's below the moving average and while we're pretty much exactly on the green line where we need to be, I'd like to see it increase a little more before surging to the channel ceiling. My WAG (wild ass guess) is that we'll be at the ceiling/target in 24-48 hours. To exit the trade I like to keep it simple: 50% of the holdings get sold over a few trades +/- 2-5% of target, the other 50% I play by ear. If volume is strong I always start my exit at target then finish the first 50% in 1% increments up to 5%. I may let the remaining 50% ride until the first peak selloff then decide how I'll sell the rest depending on the recovery. If volume slows down when approaching target I'll begin the exit early (-5%) and will try to sell it all near target as much as possible. Any trade that ends with profit is a good trade, however I missed XRP's logic defying rocket to $3+ when I sold out at $1.50 and $1.80. I don't believe GNO is going to pull an XRP by any stretch but in this space, anything is possible.
Simple ROI calculation: Avg buy price of .023575 with target of .0322 = .008625 of profit divided by org. purchase price of .023575 = ~37% return over the next 24-48 hours. If you were to get in now at .0254, ROI = ~27% in the same timeframe.