Hi traders, welcome to my update. Actually it's more like a post about risk-management.
I have to tell you that, base on my research, trading at breakout and breakdown in this crypto, especially bitcoin, is extremely dangerous and has small chance of win, because of false signal (It occurs a lot, from small to big time frame).
So what is the best trading strategy ? Warren Buffett has told you: "Be fearful when others are greedy and greedy when people are fearful". Following his advice, we use Limit Order. Breakout and Breakdown trading is only useful for cutting your loses.
I didn't tell you to always use Limit orders, just an advice, trading breakout and breakdown will be okay if you are expert in risk management.
Back to our chart, since now i will only place a red zone and a green zone. You put limit orders in those zones. Take profit at the opposite zone. Stop loss when you see a clear breakout/breakdown. That's all, follow the rule and you will have consistent profit.
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** The 20 EMA is not my only indicator, i use a lot of others to increase the accuracy. **
For any ideas or questions, tell me what you think in the comment section.
My predictions are accurate and helpful ? Follow me, i can help you define the market moves. Of course no one can predict the future. But we trade smart, we trade differently. And never keep your loss greater than 50% of your target profit lol.
As always, sorry for my poor English and safe trading everyone!
Who am i ? I'm a tiny cryptocurrency whale, an emotionless chart analyst, and a cannabis lover.
- MrPalmTree
I have to tell you that, base on my research, trading at breakout and breakdown in this crypto, especially bitcoin, is extremely dangerous and has small chance of win, because of false signal (It occurs a lot, from small to big time frame).
So what is the best trading strategy ? Warren Buffett has told you: "Be fearful when others are greedy and greedy when people are fearful". Following his advice, we use Limit Order. Breakout and Breakdown trading is only useful for cutting your loses.
I didn't tell you to always use Limit orders, just an advice, trading breakout and breakdown will be okay if you are expert in risk management.
Back to our chart, since now i will only place a red zone and a green zone. You put limit orders in those zones. Take profit at the opposite zone. Stop loss when you see a clear breakout/breakdown. That's all, follow the rule and you will have consistent profit.
-------------------------------------
** The 20 EMA is not my only indicator, i use a lot of others to increase the accuracy. **
For any ideas or questions, tell me what you think in the comment section.
My predictions are accurate and helpful ? Follow me, i can help you define the market moves. Of course no one can predict the future. But we trade smart, we trade differently. And never keep your loss greater than 50% of your target profit lol.
As always, sorry for my poor English and safe trading everyone!
Who am i ? I'm a tiny cryptocurrency whale, an emotionless chart analyst, and a cannabis lover.
- MrPalmTree
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