Concept of the Trend
"Cut your losses and let your profits grow", they say. How is that? One of possible and easiest strategies is to monitor price making new higher highs (HH) and higher lows (HL). When price fail to create new HH and falls lower previous HL, exit the trade. Some useful tips:
💡 Strategy exclude emotional interference.
💡 Stick to your timeframe - what seems to be the end at 30 minutes could be a very beginning at day timeframe.
💡 For strong trends, that last days / weeks, gradually increase position size and timeframe for HH&HL, so that minor wicks don't spoil your huge longterm profits.
💡The longer the trend is the higher is timeframe and the less your presence is required. Just move SL to new HL as it forms and live your live till trend confirms reversal and fix profits.
💡 Crypto is highly volatile market. Low cap coins are easily manipulated. Often before pumping, whales push price down, to collect stop losses (those below HL).
@CryptoTrades #Education #Hints #Strategy #Trend
"Cut your losses and let your profits grow", they say. How is that? One of possible and easiest strategies is to monitor price making new higher highs (HH) and higher lows (HL). When price fail to create new HH and falls lower previous HL, exit the trade. Some useful tips:
💡 Strategy exclude emotional interference.
💡 Stick to your timeframe - what seems to be the end at 30 minutes could be a very beginning at day timeframe.
💡 For strong trends, that last days / weeks, gradually increase position size and timeframe for HH&HL, so that minor wicks don't spoil your huge longterm profits.
💡The longer the trend is the higher is timeframe and the less your presence is required. Just move SL to new HL as it forms and live your live till trend confirms reversal and fix profits.
💡 Crypto is highly volatile market. Low cap coins are easily manipulated. Often before pumping, whales push price down, to collect stop losses (those below HL).
@CryptoTrades #Education #Hints #Strategy #Trend