TradeCobra

We Continue The Fight In The Sweet Range! (BTC)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Good day everyone, I hope all is going well! Let's talk about the reversal that took place throughout the night.

First off on the last turnaround we looked for our short from 9. 25k and had a constant battle back and forth.
When we entered 9. 25k I told you I would set a 1-2% stoploss and as price dipped through last week I continued to move my take profit lower in case of a reversal.

Was it the biggest move? No!
Was it a win? Yes!

It's best to not be a perma bull or a perma bear and to learn how to adapt to any market situation.
We got stopped out at 9.05k for a profit of 200$ per BTC over night.

A win is a win! You take what the market give you and not try to be so greedy. We are here to be in the game for a long term and not a short term.

That's the issue with a lot of traders. Everybody wants to get rich overnight and when a trade goes against them, they don't know how to cancel and cut loss. Bigger than any strategy cutting a bad trade out taking profit on a reversal is where most traders get caught up in blowing accounts marrying a bad trade. Take what the market gives you and walk with it.

If we zoom in on the 12hr to see how it's been moving, we have had a perfect doji up top on the Crossover followed by some engulfing movement as all indicators line up. We can step down to a smaller timeframe to look for a more aggressive approach to taking a trade and following it up with a larger timeframe to catch the trends.

We are still in a heavy indecision zone. We know where our edge plays are at. 10k is the money Resistance.
Right now we are playing a lot of back and forth movement until we catch the next major trend that we can really sit on.

Look, most people on here are looking for when to buy and when to sell from other traders. That is not smart trading. If someone calls a trade and goes wrong who's to blame? You or that trader? I would blame yourself since you are trying to find an easy route when you could be learning how to trade. Most people that call a signal are running pump and dump operations and could use you as dumb money and than dump to take profits on you.

Do your own research, learn how to trade and don't depend on others to tell you what to do!

I'm not here to give you signals. I have a busy life and business to handle. I'm specifically here to show you how my strategies work and how my indicators work to help make your trading easier. I believe in education and not get rich quick signals. Learn to trade, learn how to cut loss, learn to take profit, learn a system to help you make it easier on you as a trader.

I will post charts and ideas to show you how I think and operate! Very rarely do I tell you when to exactly buy and sell. DYOR! If I wanted to run a signals group, I would of had one up and running by now, but I don't.

I'm not here to let you copy me, I'm here to teach.

Have an awesome day! 😁

🥇MLT | PRO TRADERS







Comment: 3day still showing a lot of potential for a bigger timeframe trend change as almost all is red

Comments

BCH is about to EXPLODE Higher
+1 Reply
TradeCobra MartyBoots
@MartyBoots, awesome thanks
Reply
good idea
+1 Reply
TradeCobra MartyBoots
@MartyBoots, thank you
Reply
Bull is back. Check your trusty charts and signals.
+1 Reply
TradeCobra jexmee2193
@jexmee2193, 🐳🐳🐳🐳🐳
Reply
good job (:
+1 Reply
TradeCobra bestfarbit74
@bestfarbit74, thanks 🤗
Reply
I have to agree on the position of take what's given. Sometimes the hardest parts of trading can be the courage to follow your own convictions and having the patience to let the play out regardless of the noise of the market.
+1 Reply
TradeCobra FOFAgent1
@FOFAgent1, exactly. Yes, when you hear of a trader with a blown account its usually because of something as simple as marrying a bad trade. "It'll be okay, it'll return" and hold on to it. Than give up on trading because they didn't know how to cut loss. People let their emotions get the best of them. Winning in trading #1 is risk management above all. Cut the loser's ride the gainers, take profit
Reply
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