ungkuhafiz

NEOBTC - Looking for Breakout Above 0.014/0.015 - ATH

BITTREX:NEOBTC   Neo / Bitcoin
NEO is positioning to break out above 0.014/0.015 range which is a huge resistance throughout the history of this crypto. Weekly RSI is hovering around 65-70 which is bullish but not overbought.

My trading/investing philosophies are simple:
1. I look for patterns and long term trend (Weekly for Crypto), and I trade with the pattern/trend, not against them.
2. I focus on strong momentum, breakout of previous all time high and I will ride the trend.
3. I will get in early of the trend, with small positions and gradually increase my positions as the price conform with my projections.
4. I will get out and have a stop loss if the price does not conform with my projections, failed to breakout. Will re-enter when the price action reverse (i.e breaking out again of all time high).
5. I will be patient and will be looking for opportunities from time to time. Will never rush into something unless it fulfills all the criteria.
6. Repeat the same process over and over again with less stress, less trade without monitoring the chart too much on intraday basis.

The best trade and investment is to ride the trend as long as it is bullish and the thesis remain bullish , while getting out of the market when it is no longer the case.

To understand this philosophy, read the quotes of Jesse Livermore and learn how investors compound their wealth by holding on and be patient in the game.



word to the wise. great advice for newcomers to the scene. nice
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