Dogecoin is making us money. Let's get this cryptocurrency
trade update underway here. This is now the third week
in a row I've done this. And as I've said over the
past couple of videos, this is still a new idea, a new concept seems to
be very well received. But if you do enjoy this type of video where I'm giving trade ideas,
walking you through them week by week with updates, then the easy way to
communicate that to me, hit that like button,
leave a comment down below, even if it's just a thumbs up emoji. But those two things communicate to me that, "Yeah, Clay
do more videos like this. It is well received." But then also from my lawyer, I am just some person on YouTube. So this is not advice. I'm not telling you what you should do. All I'm doing is throwing out some ideas, giving you my thoughts and you can take and do with them whatever you see fit.
But I'm not licensed. I'm just a moron on YouTube. Okay? So with that legal
disclaimer out of the way, Dogecoin, Dogecoin, Dogecoin, whatever. I don't even know how
to pronounce it. Okay? Some of you are giving me a hard time in the comments section. And well-played, I don't
know how to say it. I don't care how to say it,
but that's how day traders are. We're not here to pronounce things right. We're here to make money. We're here to manage our risk. And that's exactly what's
been going on here. So Dogecoin, Dogecoin,
Doge, dog, whatever, is doing fantastic. In fact, as of right now, the recording, and I should also note, by the time this goes live on Monday, yeah, things will change
a little bit in terms of how the chart looks.
But overall, my idea is just kind of keep this as a general thing
so that whatever the chart looks like when this goes live for you, you can have an idea of what you should maybe be considering. But better yet, hopefully,
you know how to do all this on your own because that's
the ultimate goal here, is here to learn how to
be 100% self-sufficient. But as of right now, the
price is doing battle right at that trendline here.
And this will mean a
little bit more to those of you if you've watched
a past couple of videos. And I'll actually put
those links down below. So if you want to see
this all in the sequence, the previous two videos, it'll
make a little bit more sense. But that trendline has been
there from the beginning. And wouldn't you know
it, the power of charts, isn't that amazing? The thing was going
up, going up, going up, and then look where it
started to go sideways, right at that trendline. So the question here becomes, all right, is it gonna actually be able to break through that trendline? Nobody knows. Nobody knows. Now, people can think,
people can have opinions.
But as far as nobody knowing, no, that's just not how the market works. So the question now becomes, should you be locking
in some more profits? Maybe so. I wouldn't
call you crazy at all. Now last week, we talked
about a video doing if it could get up to 30
cents, then might be wise to take some off the table. Because if we were risking 10 cents, which was 50%, once
you get up to that 50%, you know what, might be wise
to take some off the table. So just to keep this and the
math is easy as possible. Let's say you bought 100 coins. So maybe at 30 cents, you took off 25. Maybe you took off 10. I don't know, but you just
locked in some profits just to make sure that you
were pulling some profits up as the price went up,
like a good trader would. Well now, we're at this situation where it really comes
down to what do you think is gonna happen? If you're unsure, then definitely
lock in some more profits. Right? That's what I would think and I would do, is if you're unsure, I don't know, is this gonna break out.
Is it not going to break out? Well, if you're not sure, and again, let's just take off the math. So if you started with 100, and you've already taken
off 25 at 30 cents, Well, and I'm not trying to
insult anybody's intelligence, just showing you how easy the math is. Well, now you're at 75. Okay? So if you're at 75, you
got plenty of wiggle room. Maybe take off another 25 right here. So right there, you take off another 25.
And you're still left with 50 coins. And think about what you've done. Let's say that the price ultimately does just kaboom, up it goes. Well, that's fantastic. You still have 50 coins. Let's just say something crazy happens. And the price just gets destroyed. Well, who knows? Well, at that point, at
least you sold some up there. That's better than having sold nothing and then have something crazy
happened against you. Right? So that's one thing that
you have to weigh out. And it really just depends on how strong in your conviction are you? If you think, "Now, Clay, this
is for sure breaking out." Okay, well, then I wouldn't
take any off the table. If you're just not sure, then okay, take off some more profits because there is a very real possibility that maybe this trendline
rejects it back down and you just never know.
But even if you were taking
some off up here around 35, 36, I mean, that's, you're at what now? 75% gain, not bad at all. Not bad at all, especially
when the risk was only 50%. As I said, in video one, you
had to be willing to risk half of whatever you were putting in. So now if you're actually
making 75% of what you put in, when you're only risking 50%, that's a very, very good risk reward now.
Now you're starting to put
together a sustainable habits and plan over the long haul. And then the other thing that
needs to be factored in here is do you want to make this
all for sure winning trade? And what do I mean by that? Well, what do we want to do from the risk management perspective? Now in the previous video,
I talked about how you could move your stop loss up to 20 cents, because that was the original entry point. Meaning at worst, worst case scenario, it's a breakeven trade. But now think about it because
we got more separation, you could very realistically move that stop-loss up to 25 cents. Keep it down below that area of support.
And now, what are you looking
at? Worst case scenario? Think about this, worst case
scenario, you're making 25%. That's not too bad. That's what we call a peace
of mind as traders, right? When you know that the
absolute worst case, worst situation is you make 25%. Okay. Now we are talking. Again, this all goes back to
what is your personal thoughts? What is your personal plan? Maybe you're saying, "No, Clay, I don't want to move
my stop-loss up there. I still want to keep it down here. I want to keep it down
at the original spot." Okay, that's fine. I'm just, like I said,
throwing out my ideas and you can take them know as
a grain of salt if you want.
Because again, I'm just
a moron on YouTube. But like I said, now that's something else that you want to be like, okay, how do I protect the downside here? What do I want to do from the downside? Because you never know, if
this thing all of a sudden just goes crazy to the downside, and you don't have a stop-loss, well, you're going to be very regretful. But if you do have one in,
you'll be feeling better.
But if it goes kind of down like that and just kind of has like a spazz attack and then snaps back upwards, you're gonna be like "Well,
why did I have a stop loss?" But hey, you know what? Welcome to the tricky
world of trading, right? When you look to the right, and you don't know what's coming next, yeah, trading gets a little
bit more complicated, unlike when you're, and this is, I think I mentioned this last video, but this is why textbooks
don't work, right? Because the textbook is
gonna look like this. Textbook's gonna work like this. You're gonna be like,
"Oh, yeah, yeah, yeah. So I would definitely
would have bought there. I'd have let it come back down here. I would have bought right there. And then it would have
bounced back upward. So yeah, that's what I would have bought. Well, yeah, that's easy to see
when you know what happens. But as you've seen over
the past couple of weeks, I mean, this has all been documented when it's looked like this.
When we don't know, when
you look to the right. And when you look to the
right and don't see anything, what is happening next? I don't know. Which is why, if you're unsure
about this trendline battle that's going on, well, you
might want to pull some more off the table. But again, don't pull
everything off the table because if you were to pull
everything off the table, meaning you remove your entire position, and then this thing explodes, you're gonna be sitting
here saying, "Oh, whoops." Now, I get it.
If it goes back down,
you're gonna be saying, "Boom, nailed the top. I'm
glad I got out of everything." Okay. And that's true too. Maybe that is the right decision. But if you're anything like me as a trader and you don't know what's coming next, well, then you might want to consider pulling some off the table. But that's all a matter of,
like I said, conviction, as in terms of that trendline right there. So that's where things currently stand. And really, it's just a question of do you want to guarantee
yourself a winning trade? Do you want to just
still guarantee yourself a breakeven trade by just
moving your stop-loss up to 20? Do you want, and how much profits do you want to be taking off? But as of right now, the trade
plan is working beautifully. It came down to our entry point. It has now bounced up to the top part of this trendline here.
And now the big question
mark, going forward. This is where I started. This is where I'm going to end. What's gonna happen with the trendline? Are you gonna continue breaking out? Is it gonna pull back? Is it gonna roll back over? And it could roll back over and then, go with the second time. So I'm not saying if it pulls back, then it's never gonna go back up again. I'm just saying, those are the questions that you need to be
running through your head.
And you know, that's gonna dictate if you take some profits off the table, how much profits you take, where you're gonna
adjust your stop-loss to. 'Cause remember, our
primary goal as day traders and swing traders is
always protecting risk, always thinking about risk. What happens if things go wrong? So you're gonna want to factor that in your decision-making process also. But that's a current update. And again, like I said, if you
enjoy these types of videos, then let me know, and you
can let me know very simply. Think I'm supposed to say
smash that like button. And then also, comment down below, even if it's just a thumbs up emoji. And you can just type a period, right? Period, submit. All I want to see is
interaction with these videos.
And that communicates to me that I'll keep this trade
updated for as long as possible. And then maybe do some new
trade ideas here in the future. But like I said, I'm
always looking for feedback from you as viewers. So communicate that to me. And then also, if you
are new to these videos, new to the channel, I'm not gonna ask you to subscribe. I think that's always
kind of goofy when people are like, "Hey, you've watched
two minutes of my videos, subscribe to my channel." I don't know, but I will ask, hey, if you liked this video, check out the channel as a whole. And hopefully like what you see enough to ultimately then hit
the subscribe button, as I would love to have you as
a subscriber to the channel. But yeah, Dogecoin, Dogecoin, Dogecoin, whatever you're supposed
to call this stuff, it is making us money. And as traders, we like to make money. First off, thanks so much for
watching the entire video. Real quick, before you go, I wanna invite you to a live webinar, web class, training,
workshop, online event, whatever you wanna call it, but it will be me, live, revealing to you what I've discovered that has
allowed me to transform myself from being an employee
to being my own boss.
Including how I had only one losing day out of 73 days in total. I'm going to cover three
keys that have helped me unlock profitable consistency
within the markets. The first key is super weird, but in a productive type of way. The second key is super awesome because it, quite literally, is wired into our DNA as humans, making it very easy to use. But in a cruel way, this becomes
a pitfall for many traders. I'll explain it all though, including how to avoid the
pitfall that it creates for some. And yeah, the third key when you hear it, sounds way too good to
be true, but it's not, and I'll show you how it all works. Then at the end, I open it up for a question and answer session that is, again, totally live. Even if you can't make the live session, please still sign up
as it will be recorded, and you can go back and watch the replay that I will send you.
Click the image on the screen or click the link down
in the description box so you can get the date and time and claim your spot which I should note, is limited due to the fact
this truly is a live event. If you have any questions, let me know. If not, I'll be seeing you soon..