The above chart has three trade ideas is based on symbol BTCUSDT - Binance.
Alerts have been set.
After reviewing the trading journal I had instances where price reversed a few dollars short of entry or reversed a few dollars after stoploss.
The trading plan is to ladder in 0.5% above Entry, on Entry and 0.5% below entry and extend the Stoploss to 1.5%.
The above chart shows 2 potential long entries and 1 potential short that I will be monitoring to trade.
Risk Management is always important. Let the trade come to you.
Stoploss(SL) 1% above entry. Take Profits(TP) at 1% increments.
First TP1 will have a higher percentage of take profit.
Do Techincal Analysis(TA) stick to your plan, let the trade come to you, and don't FOMO, if your plan does not come to fruition (not hit) then you have not lost any money, have a SL to ensure best practice so you can continue trading, journal your trade for self development and reflection.
Alerts have been set.
After reviewing the trading journal I had instances where price reversed a few dollars short of entry or reversed a few dollars after stoploss.
The trading plan is to ladder in 0.5% above Entry, on Entry and 0.5% below entry and extend the Stoploss to 1.5%.
The above chart shows 2 potential long entries and 1 potential short that I will be monitoring to trade.
Risk Management is always important. Let the trade come to you.
Stoploss(SL) 1% above entry. Take Profits(TP) at 1% increments.
First TP1 will have a higher percentage of take profit.
Do Techincal Analysis(TA) stick to your plan, let the trade come to you, and don't FOMO, if your plan does not come to fruition (not hit) then you have not lost any money, have a SL to ensure best practice so you can continue trading, journal your trade for self development and reflection.
Trade active:
Long trade 23377 (0.5% ladder above price) hit.
TP1 hit TP2 hit. Closed trade.
Ladders at Entry and 0.5% below entry are still live.
TP1 hit TP2 hit. Closed trade.
Ladders at Entry and 0.5% below entry are still live.
Trade closed: target reached:
Entry and ladder (0.5% below entry) triggered.
TP1 and TP2 hit, moved SL to TP1.
SL then hit (at TP1).
Positive Trade.
TP1 and TP2 hit, moved SL to TP1.
SL then hit (at TP1).
Positive Trade.
Comment:
Only the Short Trade left for this Trading Idea.