If you have followed my blogs and tweets, you probably know I prefer to Adapt and Trade Crypto rather than blindly HODLING
It means cryptocurrency should have usability and profit for me. not just a solid and passive asset.
So let's make money this weekend, or maximum during the next week!
look at the below chart, the current state of chart is similar to what it was in the marked period. plus, the price would highly probable of testing the previous lows again.
So the plan can be entering the market around $3333, TP around $3550 (close to one week high) and SL around $3250
Risk to reward ratio is around 1:3 which is more than good!
What do you think?
please have your say so I can imprive my plan and perspective. Please consider your own money management strategy and measures, as this is not a financial advice but only an expression of my thoughts.
How do you get RTR of 1:3 with those numbers?
Also the Risk potential is only 2.6% (difference between Entry and SL) you can be sure that SL will kick during one of those swings BTC usually makes.
(PS: the numbers look funny because it is my RTR excel file for BTC pairs so it is converting to Sats but the percentajes and ratios don't lie)
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1:2.5 is correct
I have mentioned all numbers are rough, not accurate
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well man you asked what do we think.
I think there are many clueless people that might take you for your word and loose money with that risk size and innacurate RTR.
Trading is not gambling thou it looks very similar.
i know you made a disclaimer and all and ok that covers you, but sound advice is to avoid trades with a risk size of less than 5% otherwise your SL will be kicking often and you will be loosing money bith in the trade and the exchange commision.
also any TP1 RTR lower than 1:3 with a proper risk size is likely to make loose money more often than not.
look at my post about RTR trading there is a video that explains it all
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Personally, I have been using a cost averaging strategy to make sure I take advantage of BTC at all prices. The only thing that I have been doing is increasing the percentage of my budget that goes towards BTC buys based off where I feel BTC's value is.
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can you tell me how many positions do you take every week or day ....?
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I currently buy every day at 1200GMT
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and you hold all of them?
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I think this week will be of TRX & XLM
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I don't trade them... I only have STEEM, BTC and ETH
have looked over XLM and found it great, but never tried... about TRX, too much marketing effort makes me sick...
Thanks for your advice
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ETH might got some green candles
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i hope so 🤞
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The best part is to use it and spending for thing in the real world. In that case you just speculate in the variation of the price. :)
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i do agree 👍
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