Bloody Monday for BTC
Updated
Good Morning,
Well what a night, talk about carnage. Did you get rekt? Did you manage your risk properly and set stops?
I am not the kind of guy to hide his loses and just talk about my wins, you learn more from the losses, especially the bigger ones. In hindsight, the biggest mistake was setting my stop loss to wide and then heading to bed, not a huge loss but enough to be annoyed with myself. Thankfully I do manage risk and money well enough to still be well in the game and my run of wins over the last week has my account still in good stead. We are going to lose, sometimes more than we like but what is important is moving on, because as long as we stick to our plan we should still profit eventually in the long run.
On to today's trade, I set some buys at steps from 10800 down to 10300, was lucky enough to pick up a couple of them and am now cautiously long, we have a break out of the failing wedge/channel that we created last night which is bullish, what worries me is the massive rising wedge currently moving along the bottom of. BE ready to adjust your plan if this is broken, it could take us back down to under 7k.
Good Hunting
G'day Mate,
Thanks for dropping by hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help. Join me on Bitmex, 10% off fees for 6 months. Feel free to message me on Tradeview , Twitter on even in the Bitmex Troll box and I will be happy to help. With a little guiding and a quality trade plan, Bitmex is the best place to grow your Bitcoin but please do note that Trading leveraged Bitcoin as it is with CFDs or shares has an increased risk, unlike trading on exchanges like Binance or Coinbase, in which if you make a bad trade, with time you can usually break even.
Well what a night, talk about carnage. Did you get rekt? Did you manage your risk properly and set stops?
I am not the kind of guy to hide his loses and just talk about my wins, you learn more from the losses, especially the bigger ones. In hindsight, the biggest mistake was setting my stop loss to wide and then heading to bed, not a huge loss but enough to be annoyed with myself. Thankfully I do manage risk and money well enough to still be well in the game and my run of wins over the last week has my account still in good stead. We are going to lose, sometimes more than we like but what is important is moving on, because as long as we stick to our plan we should still profit eventually in the long run.
On to today's trade, I set some buys at steps from 10800 down to 10300, was lucky enough to pick up a couple of them and am now cautiously long, we have a break out of the failing wedge/channel that we created last night which is bullish, what worries me is the massive rising wedge currently moving along the bottom of. BE ready to adjust your plan if this is broken, it could take us back down to under 7k.
Good Hunting
G'day Mate,
Thanks for dropping by hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help. Join me on Bitmex, 10% off fees for 6 months. Feel free to message me on Tradeview , Twitter on even in the Bitmex Troll box and I will be happy to help. With a little guiding and a quality trade plan, Bitmex is the best place to grow your Bitcoin but please do note that Trading leveraged Bitcoin as it is with CFDs or shares has an increased risk, unlike trading on exchanges like Binance or Coinbase, in which if you make a bad trade, with time you can usually break even.
Note
Note
Please note these are just ideas from what I see, I doubt that BTC will ever see sub $1000 levels, there is just to much interest in it and at those levels the fomo would be ridiculous. Note
Note
I hate to say I told you so but I did. I hope you all followed my non adivce haha. What a few days to be a bear. I will do another update later this morning. Note
DId I call it, or did I call it.
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