MrPalmTree

Trading At Breakout/Breakdown Ain't Good In This Market

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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
Trade closed: target reached: Updated Idea:
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