How to use proper risk management thread.
First i want to get a few things out of the way:
• There is no "best" way to do this.
• I will be explaining my experience and what works consistently for me.
Let's start!
This is the season of putting away the TA and pulling up the calendar and playing the events. Short and sell before the major events, long after. Sell the uncertainty, buy the blood.
#MidtermRally - Still don't see many talking about it which is surprising when it's literally playing out perfectly. June being the worst month, July and August starting the rally, and September and October being the FOMO months where everyone missed their chance to buy.
#Bitcoin - Your reminder to take a break from trading weekends. I broke my rule and got destroyed last weekend thinking I could do it. Markets will be here Monday
The reason I'm not posting shorts is the risk to reward here is terrible. The time to short was $50k to $68k. The time to build long positions is $31k to $40k. In my opinion shorting #Bitcoin here is like trying to long at $65k. A little too late and high risk of a bounce soon
They say history never repeats. But it rhymes. If so, look out below. Dow may be about to tumble 15% like it did in 2008. It sure does put the 2008 crash into context.
#Bitcoin - Here was your roadmap. Sold some at the sell zone, and bought back at the buy zone. This wasn't luck it's sentiment trading and TA. Be careful of the accounts that get bearish at bottoms and bullish at tops.
US stock market right now reminds me of March 2020. Once again it's not crypto hurting itself, it's panic causing a sell off. One of the best times to buy crypto was last time this happened.
The recent #BTC rejection means that $BTC is now residing at the lower region of its current $38000-$43100 range
Technically, Bitcoin is just consolidating inside the $38000-$43100 range
#Crypto#Bitcoin
#BTC has retraced -38% in total since the ~$69000 highs
The majority, if not the entirety, of this correction has already taken place
$BTC #Crypto#Bitcoin
I'll call this a bear market if #Bitcoin closes below $40,000 on a daily candle. Until then my focus is on a relief rally towards $54,000. If you'll notice I haven't called for wild #Bitcoin prices. One direction at a time.