Here is a great example of HOW I MANAGE MY TRADES.
Ok, so I have placed my trade (shown by my publicly posted pink and green boxes IN ADVANCE).
Just to clarify, my entry is top of pink and my stop loss is the bottom of pink and my target is top of the green. However, placing a trade is the EASY PART.
After we enter a trade, we have little control of the price movement but we do have 100% CONTROL of our trade management. Newer traders neglect this and this often results in a loss or an otherwise profitable trade turning into a loss through lack of management.
So just as an airline pilot has various checklists to ensure the plane navigates safely to its destination so do I have my checklist to navigate news events, price reactions and anything else thrown into the mix. I am constantly monitering the risk on my monies progress to ensure the crypto is BEHAVING well.
From the diagram, you can see my CHECKLIST IN ACTION, this goes to show you how Professionals Traders manage their trades.
Now, an Ascending Triangle is technically a Bearish pattern but if we can pass the final test of price action rising above the triangle we are on target to enter our Zone and look to take profit.
Let's keep publicly managing this trade to reach our final destination safely for all onboard.
Sean Vengan
Professional Trader and Trading Educator
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.
Ok, so I have placed my trade (shown by my publicly posted pink and green boxes IN ADVANCE).
Just to clarify, my entry is top of pink and my stop loss is the bottom of pink and my target is top of the green. However, placing a trade is the EASY PART.
After we enter a trade, we have little control of the price movement but we do have 100% CONTROL of our trade management. Newer traders neglect this and this often results in a loss or an otherwise profitable trade turning into a loss through lack of management.
So just as an airline pilot has various checklists to ensure the plane navigates safely to its destination so do I have my checklist to navigate news events, price reactions and anything else thrown into the mix. I am constantly monitering the risk on my monies progress to ensure the crypto is BEHAVING well.
From the diagram, you can see my CHECKLIST IN ACTION, this goes to show you how Professionals Traders manage their trades.
Now, an Ascending Triangle is technically a Bearish pattern but if we can pass the final test of price action rising above the triangle we are on target to enter our Zone and look to take profit.
Let's keep publicly managing this trade to reach our final destination safely for all onboard.
Sean Vengan
Professional Trader and Trading Educator
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.