Bitcoin 2

2024

Bitcoin

Dogecoin

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 <p class="paragraph">Dogecoin (DOGE) has made huge gains this week, following a generalized bull market and a memecoins surge. Grabbing this opportunity, a cryptocurrency <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> increased his stack by 10 times trading DOGE. Here is how he did it.</p>
 <p class="paragraph">In a calculated display of cryptocurrency trading acumen, the trader known as <em>Credible Crypto</em> transformed a $10,000 investment into $100,000 within a 48-hour timeframe, leveraging Dogecoin market movements.</p>
 <p class="paragraph">This trader’s journey was thoroughly documented through a series of posts starting on February 29th. Further, <em>Credible Crypto</em> posted a video on March 3 detailing the whole operation and offering insight into sophisticated trading strategies and risk management practices within the volatile landscape of cryptocurrencies.</p>
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    <p lang="en" dir="ltr">10k risked, 100k profit in under 48 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a> on $DOGE, with entry and exit publicly shared here on Twitter.<br><br>I break down my exact approach to this <a rel="noopener noreferrer nofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a> in the sub 20 minute video below.<br><br>In partnership with @_WOO_X, enjoy! https://t.co/0vdcShZTUL pic.twitter.com/5rlAHDnfN8</p>— CrediBULL Crypto (@CredibleCrypto) March 3, 2024
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 <h2 class="wp-block-heading" id="h-credible-crypto-s-trading-strategy-from-10-000-to-100-000-in-48-hours"><em>Credible Crypto</em>’s trading strategy from $10,000 to $100,000 in 48 hours</h2>
 <p class="paragraph">Beginning with an entry point of $0.121 for Dogecoin, <em>Credible Crypto</em> outlined his methodology and rationale behind the trade. One critical aspect of his approach was using “50x leverage,” which often leads to confusion regarding the potential for liquidation.</p>
 <p class="paragraph">However, he clarified that effective risk management techniques allowed him to maintain a consistent risk level, underscoring that the nominal amount of leverage does not impact the actual risk as long as it is managed appropriately.</p>
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  <p class="paragraph">“When I entered this trade, I wanted to risk $10,000. Okay? So, again, regardless of what leverage I was using, based on my position size, $10,000 was being risk. ​ I was willing to lose $10,000 on this trade.”</p> <cite>– Credible Crypto</cite>
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 <p class="paragraph">Notably, the initial strategy involved recognizing a potential breakout from a consolidation pattern in Dogecoin’s price action. With a $10,000 position on the line, the <a rel="noopener noreferrer nofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a> experienced its share of volatility, including a momentary paper loss of $7,000. It occurred during the dip inside the range – below the entry point and above the liquidation price at $0.1131.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="518" src="https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp" alt class="wp-image-158464" srcset="https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp 1024w, https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp 300w, https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp 768w, https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp 1536w, https://cdn.thebittimes.com/images/2024/03/04/90a4f34f17e89fda48eb34f8aa6900b0.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   DOGE/USDT 5-minute chart on Binance. Source: <em>Credible Crypto</em>
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 <p class="paragraph">Yet, through disciplined adherence to his predetermined stop-loss strategy, <em>Credible Crypto</em> preserved his position, avoiding premature exit from the market.</p>
 <h3 class="wp-block-heading" id="the-doge-trader-embraced-an-opportunity-to-increase-his-position">The DOGE trader embraced an opportunity to increase his position</h3>
 <p class="paragraph">Later, the DOGE trader decided to compound the position based on new information and technical analysis. Identifying a second entry point with a more favorable risk-reward profile allowed <em>Credible Crypto</em> to increase his exposure while effectively managing the overall risk.</p>
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    <p lang="en" dir="ltr">Compounded position, in the green now, need to get some sleep. Will see how things look in the morning. <br><br>Night folks https://t.co/hQQjk1Os8c pic.twitter.com/l2pEgdHovJ</p>— CrediBULL Crypto (@CredibleCrypto) March 1, 2024
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 <p class="paragraph">Essentially, this move exemplified adjusting stop losses and position sizes in response to evolving market conditions. Thereby maximizing potential returns without escalating the initial risk exposure.</p>
 <p class="paragraph">Ultimately, the decision to secure profits prematurely, rather than holding out for potentially higher gains, culminated in a significant payoff.</p>
 <p class="paragraph">This experience highlights the trader’s success and serves as an educational narrative on the nuances of leverage, stop-loss strategies, and the psychological elements involved in trading.</p>
 <p class="paragraph">In particular, this case underscores the importance of rigorous <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, risk management, and the adaptability to capitalize on market dynamics. Investors navigating the cryptocurrency market must be aware of its risks and have the proper experience to make correct decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/how-this-doge-trader-made-from-10k-to-100k-in-48-hours-tbt81492.html">https://thebittimes.com/how-this-doge-trader-made-from-10k-to-100k-in-48-hours-tbt81492.html</a></p>

How this DOGE trader made from $10K to $100K in 48 hours

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