Bitcoin Trading Journal: Veteran Trader Shares Tips on how to Profit from Bitcoin and Altcoin investing

Successful traders treat trading like a business and part of treating your trading like a business involves keeping a journal.

The goal here is to provide some transparency on my trading routine and I hope traders find the process of observing each step of every trade educational.

Trading position sizes are redacted, but they are always calculated based on a 1% portfolio loss using the stop loss and entry as a guide.

The risk to reward ratio measures the difference between a trade's entry point all the way to the stop-loss and sell or take-profit order.

The altcoin then bounced off of the key support at.00016499 and eventually broke down, which became my first area of interest to trade.

Ideally one would like to catch a retest, but being willing to potentially trade the breakout with a tight stop was the thought, as LINK tends to really move and punish traders waiting for a clean retest.

How it worked outBy Sept. 19 the trade proved to be a success.

BitcoinSince topping out at $13,800, Bitcoin has been on a bit of a roller coaster but this doesn't mean intraday and swing trades can't be capitalized on.

How it worked out The trade was a total train wreck.

This trade led to a loss of 0.9%. One thing that can be taken away from this experience is that keeping a journal allows a trader to backtest and review candle patterns and support / resistance levels without confirmation bias.