Bitcoin Long, this is a trade offering a R:R 2:1, target around $6,000
Sean Vengan 10+ Years Professional Trader and Trading Educator
REALITIES IN TRADING: In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading. We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE. Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades). Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY. Always factor in "WHAT IF I LOSE MONEY ????"
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY 1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE 2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine. 3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service. 4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit. 5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis. 6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to. 7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted. 8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply. 9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned. 10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience. 11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive. 12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
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Winning trade closed 5962.
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VERY FEW, IF ANY, would have taken this long trade and sat just watching as their underlying trading is based on FEAR & GREED, not OBJECTIVITY. Be honest with yourself, was that you?
90%+ Will fail (blow up their accounts); 5% will have breakeven results, 3% will have some minor sucesss; 2% will have great success (note: these are arbitrary figures, I have learnt from speaking to traders and brokers over many years).
As speculative traders, you must OVERCOME this EMOTIONAL BLOCK of "FEAR GREED CYCLE" if you wish to transform yourself into the elite SUCCESSFUL and CONSISTENTLY PROFITABLE TRADERS
On this front page, apart from my post showing you - ENTRY - STOP LOSS and - TARGET
not one Author has shown you these CRITICAL components of a TRADING PLAN.
I show you this ONLY so you UNDERSTAND that as a TRADER you MUST know this before you take a trade otherwise, you are trading blindfold and THROWING YOUR MONEY AWAY.
Remember you are trading against PROFESSIONAL TRADERS in the Market who will easily and happily gobble up your money within minutes, hours, days.
If you just take trades based on arrows and lines and prices which is ALL these "Top Authors", to date, are showing you will LOSE YOUR MONET.
You must know as a minimum your STOP LOSS.
None of these "Top Authors" are showing ANY OF THIS. ONLY providing COMMENTARY and GUESSES, this tells me clearly they don't have the courage of their conviction to show you these critical Trading Plan components.
If they don't trust their own judgement to GIVE YOU A REAL TRADE then you must question whether you should trust theirs.
LET ME BE CLEAR: I tell you this ONLY so you be MORE DEMANDING OF YOURSELF BEFORE YOU RISK YOUR MONEY as failing to follow the advice I have given you above is how 90% of traders end up LOSE ALL THEIR CAPITAL.
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We are now looking to Setup for an ABC Correction...
I'm new to trading, but had already noticed on my own that you are the only one showing the actual trade. It's why your posts are the first I look at every morning, and I read each of them multiple times to learn as much as I can. Please continue, your efforts are greatly appreciated by many.
Sean, I've been following you for about a month now and in cryptos two months now. I've done extremely well in the stock market myself but not by trading on technicals -- I learned to evaluate companies and buy into good long-term holds, which of course does not exactly translate to cryptos other than investing in the tech behind the coin for similar long-range hold positions. In other words, I'm back to square one learning all-new principles and methodologies. So your style of analyzing and demonstration here is exactly what I've been searching for to understand how to manage risk with my trades in cryptos. Learning your lingo and learning how you manage trades is invaluable and is helping me better trade options on the stock market as well as learning to trade cryptos. Of course, you just keep repeatedly send me back to Investopedia and other learning resources to learn yet another thing you bring to the surface. Sharing the critical components of a trade is *the very foundation* of explaining a trading plan and a crying shame more don't seem to do this themselves here and it's a worse crime hearing how much constant flack you get from naysayers. I thought I was getting good at this because of my past successes, but you have humbled me and I'm here to learn more. I just wanted to take a moment and say "thanks" and keep up the good work! May the rising tide knowledge raise all the boats.
UnknownUnicorn1063189
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@mwlang, Hi @mwlang thank you for sharing your real life experiences and also being humble to face up to realities. I always give an honest account of my trading and not present trading as a path to riches and fortunes.
To achieve the success you must be dedicated to learning trading skills for the rest of your trading life, an open-mindedness and self-evaluation of your strengths and weaknesses, as trading requires complete introspection.
With the right education experience and street-wise these skills are all learnable and the Rewards very very high and can come much quicker than growing a traditional brick and mortar business.
Psychology and Risk Management are the foundation of consistently profitable trading and my emphasis in all my posts never neglects these.
Thank you for your kind words and taking your time to write this. It is much appreciated and never overlooked.
Bart66
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Knowing and doing are 2 different things - thanks for your altruistic inspiration.
The hardest challenge is in a winning trade - and to let go.
Just yesterday Stratis - in at 50, target was 70 - but it was in such a bullrun I let it run ... hit near 90. Then my emotional trade action kicked in!! At 88 I 'thought' it will go on up again ... and sold at 75 feeling stupid. While ..... I made a 25% profit!!!
UnknownUnicorn1063189
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@Bart66, Absolutely "knowing and doing" requires discipline which many lack.
But first comes the knowing without education in trading you are trading blindly and gambling
Scherp
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Great work! Can I join your group?
ainshent
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Sean, Thank you for "EVERYTHING" you do. Being a amateur trader I so look forward to your posts. I truly appreciate your blunt analysis and risk assessment of your trade logic.
Would love to be added to the group if that is still available.