AWAY
PAPERTRADING - What To Do When On The Road - 05/15/20 RECAPHi traders,
Let's change gear for a bit and talk about what a professional trader should do when away from his/her computer.
My answer is simple: PAPERTRADE!
I was away on Friday, but did my regular preparation and stuck around for the open to practice. I found 2 opportunities, one long and one short. Both worked!
What do YOU do when on the road? Let me know!
I will not be including these trades in my PnL statistics.
Tom | FINEIGHT
Ethereum/Bitcoin: ETHBTC Stay away from this imploding dream Ethereum/Bitcoin ETHBTC Toxic
Who is buying this? Why? It's still in a massive down-trend that
shows no sign of waning soon. It's a short every time it
touches the falling trend line from the high and will only ever
become a buy if and when that downtrend is broken.
As it stands now, it looks like it should fall further back to
0.0361 and then try to bounce (back to 0.0344) before coming
off again. The 0.0344-0.0334 zone represents critical support
for this dying dream. If it fails at any point Ethereum becomes
an aggressive short back to 0.0232 to start with, then after a
minor bounce, back to 0.0127.
If short, good for you. Stay that way back to 0.0344 then close
out again as above, ready to short aggressively again as
0.0334 is broken on downside for 0.0127 target.
Ethereum will remain weak whilst trapped under the downtrend.
Maybe one day itwill emerge the other side of the down-trend...
But until it does this thing is still toxic
MTL Ready to goMTL looks to be ready for a new run.
Great RSI on almost all timeframes, Broke out of pennant and challange previous top.
Just a little more is all it takes :)