Four Tokens, One Experiment - My Testing Portfolio Update

Welcome back,

It has been more than a week since I started my testing portfolio and began putting my money into new tokens. I initially invested in Dog token, which is built on the Bitcoin blockchain using the Rune platform. After that, we added Bone token to the portfolio. Then came Pengu token.

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Most recently, I started trading in ENA token, which I personally believe is one of the strongest tokens right now based on the technical analysis I did. ENA token has been fluctuating between 60-78 cents, and that is why I started buying it below 70 cents and selling it above 73 cents.

I have already repeated this trade around three to four times successfully. Apart from short trades, I am also going to hold a small portion of ENA for the next few months because I strongly think it will perform well. In my opinion, even from the current price, a two times growth is very much possible based on the analysis I have done.

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Now, let me share something important. It is quite difficult to get involved in short term trades, especially in the situation where the market is already near its peak. We do not know where the top of this cycle will be, but I am very sure it is very near. I am going to observe the market for the next two months, and I think during this period we are going to witness the top of this crypto cycle.

For now, if you are someone who wants to start trading for the short term, where you buy and sell within a few days, you have to understand one principle and that is to set your targets.

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For example, if I am buying ENA at 60 cents and I decide to take a 10% profit on it, then I will have to sell it at 66 cents no matter what. If you wake up one day and see that it suddenly went to 69 cents, you do not have to fall into greed and continue holding. Your targets have been achieved and you must exit from that token. Another good idea is to set your sell order beforehand when you buy the token, so that you stick to your plan without letting emotions interfere.

Before I stop writing, I must say that this is not financial advice for anyone reading this blog post. It is just my testing portfolio, and I have only put a very small part of my overall portfolio into it. One of the bigger YouTubers I follow is testing a portfolio on around one thousand tokens if I remember correctly, and I am still doing it with only four tokens, that too after my proper research. So if you want to try it as well, make sure to research properly before starting.

Thank you and happy trading everyone.

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