MagnusTradingGroup
Long

[LONG] - 2 Day Trade - Bitstamp

BITSTAMP:BTCUSD   Bitcoin / Dollar
607 4 4
Litte trade idea for next 1-2 days.

strict stop-loss bellow the neckline / 0.236 fib
Good risk/reward ratio of around 1:7

This trade has to go well 1 out of 7 times for you to make profit.
Seems doable :)
you can't really set tight stops on bitcoin.. it's too volatile for that :S
+1 Reply
I think the stop was perfect for this trade. trade didn't work => got stoped out very fast. only little loss.
With this risk/reward ratio you can afford to be wrong 7 out of 8 times and still be brake-even.
One big fish makes up for all the little losses from getting stopped.
All you have to do to get money is be right more than 1 out of 8 times. Even a monkey can do that
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It hit your stop already :s
Reply
closed @ breakeven
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