Personally I think this only has like 20% chance to play out. I think more sideways than anything but would like for BTC to keep pushing up higher as that would make for better trading conditions
#Bitcoin
Stuck in a tight range on weekly and sitting right at support.
Personally, not a huge fan of the head and shoulders structure that I shared earlier. Just don't think we'll drop that steep right now.
Thinking we probably go sideways more than anything.
🚨 DO YOU ACTUALLY KNOW HOW TO MANAGE RISK?
Most traders spend years learning entries…
…and almost zero time learning position sizing, stop losses, or when NOT to trade.
That’s why they blow up.
Here are the risk rules that helped me survive long enough to improve 🧵👇
HOW DO I KNOW INVALIDATION?
Each trade has an invalidation based on strategy or a pattern
If no logical invalidation level then I have no trade set up and I can not take a position
This is good risk management by not forcing trades
To reiterate:
The wider the stop loss - the smaller position size
In conclusion:
1. Stop loss % doesn't matter. Widen stop - reduce position size to avoid stop outs
2. Don't overexpose account at any time The market can be randomly volatile & unpredictable at times.
3. Calculate risk; not profits. Just ensure your R:R is favorable at least 2 reward for 1 risk increment.
4. Losing streaks will happen - stay consistent, you must survive losing streaks
(Not financial advice just my views and understanding on risk management in the markets)
Crypto market showing some weakness.
$NEAR was the best opportunity recently and just been sitting on my hands since.
Sometimes it's best to do nothing. We had a strong run. Now we wait for more top quality opportunities 🤝
Trade posted in this month's subscriber newsletter is starting to progress nicely...
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Russell performance vs SPX over the last few days is starting to really pick up and breadth is starting to improve with equal weighted SPX doing much better now. This seems like late move behavior for this leg.
Under the surface Russell ETF flows look a lot more bearish lately with puts being lifted into today's close and short volume starting to build.
Not enough to not still play ball but I would trade cautiously and be both tightening stops and taking profits on anything that gaps up like $MU did.
I took all your chart requests this week and broke them down.
Some had good set ups, some are good to add to watchlist and others can be thrown out
Free alpha loaded👇
$NEAR
Right at key resistance. Still up over 50% from entry but and have steadily taking profit along the way.
Tempted to close out the rest soon. Been a solid run.