RCN chart update.

Stoploss hit 💩 It was overbought and dumped as soon as price fell below 600 support. Always have stop loss below indicated support levels!

Nearest strong support levels are 540 and 520. Resistance left behind after the dump is at 560 - 580 - 600, which now can be our "scalp" targets. But the chart looks less appealing now - it is still extremely overbought at big timeframes, and now it made lower high, so falling below 520 will take it all the way to 420.

@CryptoTrades #RCN #Ripio #stoploss

Do you have a maximum drawdown?

If you don’t you should definitely set one. A maximum drawdown prevents you from losing a large % of your capital.

You can still lose a large % of your account when you manage your risk just by simply placing too many trades!

@CryptoTrades #education #drawdown #stoploss #signals #cryptotradespremium

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Do you place your stop losses in valid places or do you just place them anywhere?

Here are three valid reasonings to position a stop loss in the right place.

1. If trading inside two zones, it makes sense to place your stop loss outside of the zone. For example, if we place a buy at the support (bottom) zone, we would place the our stop loss underneath the zone.

2. If trading the breakout strategy, it would make sense to place your stop loss underneath or above the zone that price has just broken above/below. For example, if price breaks above a resistance (upper) zone and retests it, we would place a buy and place our stop loss underneath the newly made support zone.

3. If trading using trend lines, and you’re trading with the trend, it makes sense to place your stop loss underneath the trendline. This one is simple, if price breaks below the trend line, price has changed trend.

Remember to always place your stop loss in valid places and make sure your stop loss is significantly smaller than your take profit!

RISK:REWARD IS EXTREMELY IMPORTANT!

@CryptoTrades #education #riskmanagement #riskmanagementplan #stoploss #strategy #signals #cryptotradespremium

Stop over complicating it, it’s not that complex!

Set a minimum risk to reward ratio and a maximum % risk per trade.

Once you have those two things you already know what the maximum you will lose on each losing trade and also the minimum you can gain (unless you close early).

Of course there are other components to a successful trading/risk management plan but this is the foundation to one!

Implement this way of trading and watch your results change for the better!

@CryptoTrades #education #riskmanagement #riskmanagementplan #stoploss #strategy #signals #cryptotradespremium

Do you use take profits?

If you do that’s fine but you may want to take this into consideration...

When you set a take profit, you’re limiting your potential profits.

Let’s say you have a take profit set and price rises up to it and hits it but it doesn’t stop rising and it rises 20-30% up before even dropping slightly. You would be pretty annoyed right?

One way of stopping this is by trailing your stop loss, instead of using a take profit, move your stop loss more towards price as price moves upwards or downwards in your favoured direction.

@CryptoTrades #education #profits #stoploss #trailingstoploss #strategy #signals #cryptotradespremium #winningsignals

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Do you place your stop losses in valid places or do you just place them anywhere?

Here are three valid reasonings to position a stop loss in the right place.

1. If trading inside two zones, it makes sense to place your stop loss outside of the zone. For example, if we place a buy at the support (bottom) zone, we would place the our stop loss underneath the zone.

2. If trading the breakout strategy, it would make sense to place your stop loss underneath or above the zone that price has just broken above/below. For example, if price breaks above a resistance (upper) zone and retests it, we would place a buy and place our stop loss underneath the newly made support zone.

3. If trading using trend lines, and you’re trading with the trend, it makes sense to place your stop loss underneath the trendline. This ones simple, if price breaks below the trend line, price has changed trend.

Remember to always place your stop loss in valid places and make sure your stop loss is significantly smaller then your take profit!

RISK:REWARD IS EXTREMELY IMPORTANT!

@CryptoTrades #education #stoploss #risktoreward #signals #cryptotradespremium #winningsignals

This post is about how to avoid falling into the trap of price manipulation.

First of all, here’s a quick summary of what price manipulation is;

It is an act of artificially increasing or decreasing price, to cause retail traders to lose money.

This is the main reason why 88% of traders are losing money.

Here are 2 simple ways to avoid price manipulation;

1. Place your stop loss below key levels

Don’t have very tight stop losses, because chances are you will not be profitable.

2. Risk around 1- 3% on each trade

Protect your capital at all costs.

You should never put yourself in a position where there is a chance that you could lose everything.

Institutions and exchanges want you to lose everything.

Exchange will provide you with high leverage so that you have the possibility of getting REKT.

We believe in smaller, consistent gains.

@CryptoTrades #education #trading #pricemanipulation #elonmusk #stoploss #cryptotradespremium #winningsignals