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(AVAXUSD 1W Chart) - Medium to Long-Term Perspective Above the 43.7108730 point: Expected to create a new wave.
Don't assume that you need to know how far it will rise so you can maximize your profits by selling then.
This thought can cause you to stop selling at the time you realize a profit.
Take profit is to make the mental state stable by selling in installments when there is a change in one's psychological state (anxiety, nervousness, exultation, hope circuit, etc.) as the price rises.
In addition, you can realize profits according to your investment period.
Usually, when you trade, you want to sell 100% to confirm your profit. Once you have established a profit, you should not buy again until the price drops.
However, if the price continues to rise, you will often end up at a loss by buying again.
Therefore, it is necessary to calculate the purchase principal rather than selling 100% and sell the same amount of the purchase principal in installments to recover the investment and retain the amount of tokens corresponding to the profit so that the profit can be regenerated.
(In short-term trades, it is recommended to sell 100% to secure profits.)
The average unit price of tokens for revenue is 0. Therefore, I think it is advantageous for additional transactions because the psychological burden will be reduced in future transactions.
(1D chart) It is important to keep the price above the 70.0898075 point to sustain this uptrend.
Therefore, if it falls from the 70.0898075 point, Stop Loss is required to preserve profit and loss.
However, it is possible to touch near the 43.7108730 point and rise, so you need to think about how to deal with it.
0.0012-0.0014834 or higher: Expected to create a new wave.
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We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly as price and volume move. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released. (Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.) ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying the formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
Nice post. I am curious on how to calculate purchase principle. All I can find are average down calculators, which are useful, but do not take into account TP. Suggestions? Thanks again.
readCrypto
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@wavewrangler47, The basic buying principle is to look at the position of the support section after the pull back pattern and start buying.
However, not all purchases are made in the same way as above.
Tokens that are on an uptrend or located above a significant volume profile section will start buying the next day if they close as an uptrend after falling for 3 or more days in a row. (Buy in installments after the closing price of the rising candle.)
In fact, it doesn't matter either way.
What is important is whether the support section is confirmed at the current location.
In addition, you need to increase the number of tokens that correspond to your profits while reducing the proportion of your investment.
This method has a small return at the beginning of the investment, but gradually the number of tokens corresponding to the return increases, and in the mid- to long-term, it will re-create profits without investment.