Here are the biggest news, updates and stats covering January 1-31, 2021!
January has been a very interesting month for the Crypto space. We’ve got some juicy info for you so be sure to check our video!
The biggest news this January
Ethereum broke all-time highs
It isn’t just Bitcoin making the headlines. Ethereum also broke all-time highs this month… from around $800+ levels at the start of the year, it soared to above $1,500 in a month!
Some analysts expect that it’ll rally and reach $10,500. Only time will tell if it ever reaches this point.
India may ban Crypto… again
They’ve done this before. In 2018, India’s national bank declared that they’ll ban the sale or purchase of crypto-currency.
Now they’re looking to ban private cryptocurrencies like Bitcoin and develop a national digital coin.
We’re not certain how they plan to enforce it. Regardless, we’d like to believe that people have woken up enough to Bitcoin and crypto in general that this announcement isn’t likely to stop anyone from owning crypto nor greatly affect people’s perception of it in the future.
If you aren’t familiar, Wallstreetbets is a Reddit group where a lot of retail investors or enthusiasts go to talk about trading opportunities and speculate on assets.
In January, members of this group decided to take on Wallstreet by betting against Wallstreet short option.
This is part of the reason why unusual coins and assets shot up in price… including Gamestop stocks and DOGE coin.
Interestingly, Jaime Rogozinski, founder of Wallstreetbets, sold his life story to movie producer RatPac entertainment.
Seems like it won’t be long until we see a movie covering the whole fiasco.
We’ve had quite the run this January. Of the 242 completed trades with 176 winners.
That’s a massive 73% showing some profit potential. 66 of them hit stop loss.
Our Best Trade
DOGE coin really took us by surprise. As mentioned earlier, this coin’s recent spike in price was a result of the whole Wallstreetbets fiasco. At the time of writing, this FUTURES trade achieved an epic 216.17% peak gain and is our biggest winner to date!
For those who aren’t aware, SPOT is for immediate buying and selling. It is generally meant for those who are new to trading and is what many of our long-time members are familiar with.
Futures trades are meant for more advanced (or Pro) traders who check the charts and are comfortable with their risk management and trading skills. Futures signals usually suggest using leverage on your trade.
Based on the chart, the price touched the very top of our entry zone before quickly rallying and hitting targets 1,2, and 3.
Afterwards, the price pulled back then took around 7 hours to recover before gaining momentum and hitting target 4.
Imagine if you had entered the trade at any point within those 7 hours, you would have made some money. This an excellent example of why it’s a good idea to consider getting into a trade late even if the signal hit some of its targets.
Interestingly, the price shot up further… eventually peaking at around 690% from our base entry price.
Final Target Hit% Spread
This month, 52% of our signals Hit Targets 2,3, or 4.
What’s impressive is if we look at the average peak gain per target… we can see that there were plenty of opportunities to make some serious amount of money.
Average Peak Gains % Per Target
Simply put a massive 26.86% of our signal hit target 4 and reached peak profit potential. The most impressive part is that the average peak gain amounts to an epic 32.21%!!!
Only 27% of our signals went directly to stop loss.
It’s been an interesting (and bullish) month. Looking at the depth, you can see that on average, prices dipped to around 40% from the top of our buy zone. That means the ideal way to set your entry price is to set it around 35-40% from the very top of the zone.
Don’t worry, if you missed out or were late for some of the signals you’ve followed, you can still catch up to it.
Please remember that past performance does not reflect future results.
Top 10 Trades
DOGE is the top dog for this month (possibly our biggest trades for the year!).
All three trades took the coveted top three spots and all three managed to achieve above 140% peak gains in a matter of hours!
Be more profitable and start making trading work for you again.
Join ProfitFarmers and:
Easily execute trades like an expert
Frequently find more profitable trades with less time
Cure the emotions & FOMO that cuts into profitability
Take your life back and actually ENJOY the journey of trading!