Day 1 : Building a Watchlist and explaining the strategy
Day 2 : $PLTR Trade Idea
Day 3: Buying $HOOD
Day 4: Up 5% on $HOOD
Day 5: Entered $UA Trade
Trading In Puerto Rico
Welcome to day 6 of our $500 Account Challenge!! Today I flew to Puerto Rico with my girlfriend for her birthday. While I was on the plane I glanced at our open trades a few time $HOOD $UA, but there was not much going on other than some movement around our entry level. We’re around even on the account, with $UA being down and $HOOD being up. The strategy we are using is a slow moving swing trading strategy that focuses on risk management via position size management. We chart out our levels way ahead of time and let the plays come to us, instead of chasing profits.
I had some fun trading memecoins today on my $50 Crypto Account, if that interests you be sure to check out our discord!! Keep in mind, I also diversify my overall portfolio by complimenting this slow and steady stock swing account with a higher risk higher reward crypto swing/long term account I’m building as well. Adding plays like NEAR that I’m bullish on long term, and staking crypto like ATOM to get passive income (like dividends).
Crypto staking percentages can be higher than dividend yields on stocks, but don’t let that fool you, with more reward comes more risk.
The cryptocurrency market is relatively young and volatile compared to the stock market. This volatility can lead to higher potential returns, but also carries a higher risk of loss. Staking rewards reflect this risk, and so they can offer higher percentages to incentivize investors to participate. There is higher risk staking crypto than investing in dividends, so they have to make the rewards for crypto staking higher than dividends to incentivize investors.
Dividends are a portion of a company's profits that it distributes to shareholders. Staking rewards, on the other hand, are not directly tied to profits. Instead, they are a way to compensate cryptocurrency holders for helping to secure the blockchain network. By staking their coins, investors essentially become validators on the network, helping to verify transactions and ensure its smooth operation.
Since I have a very low risk strategy going on in my $500 Account Follow Along using Jay’s Swing Strategy, I am okay having more risk in my crypto account, to shoot for a higher reward.
I also have my $50 Crypto Account where I am doing HIGH speculation with super high risk and super high reward. The reason for this account is because I don’t like to bottle up all my emotions that I might have during trading like impatience, FOMO, wanting to get 100% runners, etc. Instead I have a YOLO account with money I am very okay losing where I can let those emotions out in a healthy way. That being said I’m only putting $5ish into each YOLO play in this. So far doubled my first $50 and reset. Check out our discord for more on all this!
Interested In Having Jay As A Trading Coach So That He Can Teach You This Strategy? Click Here!!
