MANA Long Position
I can't stay away from the darn alt coins and MANA is a fav to trade. This is a simple method that I use to buy and sell alt coins (some). I only use and trade with long term plan but its highly effective when carried out properly.
Simple MA strategy adapted for fast moving and volatile as hell crypto.
Use 15 MA and 30 MA along with Momentum.
When 15 MA crosses 30 MA from below with rising momentum, I buy (green arrows on chart)
When 15 MA crosses 30 MA from above with dropping momentum, I sell (red arrows on chart)
I don't use signals that come after massive spikes
I scale in and out on all trades so I have normally sold most of position before sell signal
Momentum setting (25,close)
Long trades often stay near buy in zone for several days so patience is key
Stop Loss a must with ALL trades and I use a blanket 20% from my lowest buy in
No single trade with more than 2% of available capital
Current trade began buying today in 0.053 range and will continue to buy from 0.0485 - 0.057. Expecting a long 15/30 MA cross and momentum rising. May take days but I am patient.
If you missed your entry, is it to late? I am watching $0.065 and would like to see us close above it. However, I will likely place a couple of limit orders below $0.06. Still early in this 15/30 MA crossover so this good buy zone.
$0.08 - sell 15%
$0.10 - sell 25%
$0.12 - sell 45%
Remaining 15% of bag will be profit so I decide what to do based on market. I will hold a winner for years if the market is so kind!
Develop a trading plan, refine your edge, and manage your trades! Happy Friday traders and may profits find you
Have a terrific Thursday traders and may profits find you