About meLike most, trading has been a giant waste of time & money because I did it for a high.
But if I take away the high, I make money. That's why I trade boring (low risk, wide stops, don't watch the tape) & invest my profits into long-term ETFs.
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If I am going to risk capital, it is only going to be for massive reward potential.
Crypto went from no one wanting to touch it, to very bullish sentiment in the last couple months. Therefore I will buy PUTS.
Long May/29 Deribit Put Contracts at $150 at $2.46/each or 0.0125 ETH
I am prepared to lose the entire amount, so no STOP LOSS. Only risk an amount that you are prepared to lose entirely - such as 100 bps.
Target is $100, implies...
See image for description. Everyone seems to hate oil due to lockdowns right now so I'll trade in the opposite direction.
Initial trade Risk-Reward ratio is ~6.75x
Look to layer on the breakout.