SILVER XAGUSD 2618 Trade ready to enter long
Formed double bottom.
Made a new higher high.
Retraced to the 0.618 fib.
You can enter now with stopp below the double low.
Dont risk more than 1% of your trrading account on that stopploss.
Other way to trade it: dont use any leverage e.g. put stopploss to zero. Silver will unlikeyly fall below zero which would be from 16 to zero. But silver longterm very likely will be above 20 and above 30 again 8but caution! this may take months and years)
Made a new higher high.
Retraced to the 0.618 fib.
You can enter now with stopp below the double low.
Dont risk more than 1% of your trrading account on that stopploss.
Other way to trade it: dont use any leverage e.g. put stopploss to zero. Silver will unlikeyly fall below zero which would be from 16 to zero. But silver longterm very likely will be above 20 and above 30 again 8but caution! this may take months and years)
Trade active:
going good so far
Comment:
these 2618 trades are lovely. always use them with low risk so maybe you lose 2% plus 2% plus 2% plus 2% in a series of bad trades but in case they play out you have a 5 x 2% gain very likely.
look at this:
from the example above you lose from your little 1000$ account
1st loss = 2% = 20$
2nd loss = 2% = 20$ ( ok, it is 19.8$ but for the sake of it lets calculate with 20$ loss)
3rd loss = 2% = 20$
4th loss = 2% = 20$
Makes a total loss of some 80$.
But the next 2618 trade plays out and you risk again 2% but win 5 time this 2% back. So after 5 trades you come out with +/- zero or even with a little gain all in all. Easy. And it makes you sleep well instead of worrying about your money and your stopploss levels etc...
look at this:
from the example above you lose from your little 1000$ account
1st loss = 2% = 20$
2nd loss = 2% = 20$ ( ok, it is 19.8$ but for the sake of it lets calculate with 20$ loss)
3rd loss = 2% = 20$
4th loss = 2% = 20$
Makes a total loss of some 80$.
But the next 2618 trade plays out and you risk again 2% but win 5 time this 2% back. So after 5 trades you come out with +/- zero or even with a little gain all in all. Easy. And it makes you sleep well instead of worrying about your money and your stopploss levels etc...
Hope you took it and already took some profits?