gbpjpy analysis - 01 mar 2023happy first of the month!! hope we all have profitable months :)
so here it goes...
- on the daily market closed below the downward trendline yesterday
- down to the H4 a bearish engulfing formed closing two previous bullish candles
- a head and shoulder pattern formed which is more clearer on the H1
- entry could have been taken at the london open where the right shoulder formed
- but now we WAIT for a breakout of the neckline and depending on how aggressive your entries are you can enter at the immediate breakout or wait for a retest of the neckline
- and just like every other trade I DO NOT KNOW WHAT WILL HAPPEN NEXT, i'll just act on my edge and SEE WHAT HAPPENS
Riskmanagment
Practical advice for a novice traderPractical advice for a novice trader
- It doesn't matter what size of the deposit you have, start gaining experience with symbolic sums: $10/50/100, as you gain skills, you can increase the deposit, but be prepared to lose. In addition, with such an initial deposit, the logic of the behavior of market participants will open up to you.
- Do not invest in trading those funds, the loss of which will affect the quality of your life, only what you are ready to lose.
- Do not rush to leave your main job, let trading be your hobby for some time, perhaps it will grow into something more over time (but this is not certain).
- More trades does not mean more profit, you can make several trades in a month and earn more than if you made dozens of trades a day, and sometimes it’s best to be out of the market, but this is very difficult without experience.
90% of a trader's time is spent on analyzing the instrument and the situation, forget about the rush, opportunities appear and disappear every day, know how to wait.
- The first transactions can be made on paper, on an unfamiliar chart, but just take into account not only the profit or loss, but also the time spent.
- It doesn’t matter what timeframes you work on, as long as you manage to trade profitably, but you need to start studying the chart with higher timeframes: monthly, weekly, daily and go lower, so you will understand the whole picture.
- There is no endless growth, as well as an endless fall, markets are cyclical, and reversals usually occur at the most unexpected moments.
Do not make decisions on emotions, only a well-thought-out plan. Develop your own trading strategy, according to your initial data and temperament.
- Don't ask others where to buy and where to sell, they don't know.
- If the instrument has already made several hundred percent growth from the bottom, then it is not rational to enter it without stops, if the profit from the bottom is several thousand percent, then it is contraindicated to enter such an instrument on growth without waiting for a significant rollback!
- Even if everything points to a specific direction of movement, always allow 1% for the opposite option, this can save you from significant losses. Always control risks.
- If you make a profit, withdraw at least a part, regularly, you must understand why you are spending your time on this. Ideally, over time, withdraw all the money invested, so it will be easier for you to psychologically operate with a deposit.
There are no universal strategies. Your trading strategy should be well-considered, but at the same time adaptable to the current market situation. Something works well in a rising market, and does not work well in a falling one, and vice versa. You will be able to earn if you quickly adapt to the situation and skillfully manage risks.
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✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
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nas100 analysis - 22 feb 2023- we broke through the neckline of the double top on the daily timeframe yesterday
- we are currently at an intraday level of structure where market looks like its retesting it and continuing being bearish
- currently waiting for the break of the previous low at 12052 to go short
- or if the market wants to retest the neckline of the double i will wait for a break of the 12101 level and go long on the retest, but my long term bias is bearish as on the daily we are bearish
- funny thing what i just said right now might not even happen the market could gap to a new high or low we'll never know but that's why there's risk management :)
Risk Management Strategy Spot trading can yield high returns, but it’s crucial to have a well-defined strategy in place before diving in. This entails analyzing the project, determining the size of your entry, and devising contingency plans in case of unforeseen circumstances.
In this article, we’ll discuss our approach to spot trading and share our insights with you.
Before entering the spot market, it’s critical to categorize the various assets available. With over 10,000 different projects to choose from, each with its own unique features, we sort them into three categories based on risk level:
High Risk: This category includes projects that are prone to exit scams or are high-risk due to their small capitalization. We pledge no more than 0.5% of our total capital to these projects since they pose a significant risk to our portfolio. However, if they perform well, we may see significant returns from just one high-risk transaction.
Middle Risk: Projects in this category have an average market capitalization of between $50 million and $500 million. We can pledge up to 1% of our allocated capital to these projects, which are less likely to collapse but still carry a degree of risk.
Low Risk: This category includes established mastodons of the cryptocurrency market with a high market capitalization, such as those in the top 50 of Coin Market Cap. We can pledge up to 3% of our allocated capital to these projects, as they are less risky but still carry some risk.
To diversify our portfolio, we allocate our capital as follows:
Cash reserves: 30%
High Risk: 15%
Middle Risk: 30%
Low Risk: 25%
While our portfolio may seem risky, we aim to earn returns rather than simply preserving our capital. However, in the current bear market, we adjust our strategy to focus more on cash reserves:
Cash reserves: 70%
High Risk: 5%
Middle Risk: 15%
Low Risk: 10%
With over 70% of our portfolio consisting of stablecoins, we can buy back into the market at more favorable prices during drawdowns.
In short, a risk management strategy should be tailored to each market. In a bull market, a riskier strategy with more high- and middle-risk projects may be appropriate, while a bear market calls for a risk-free strategy with a small percentage of high- and middle-risk projects and the majority in stable assets.
In summary, our risk management strategy for spot trading is designed to minimize losses and prevent undue stress. Consider using it as a starting point for developing your own strategy, and monitor its effectiveness over time.
I would lie to you that I am very special!This is an event that has spread all over the real and virtual space these days
I am better than you, more beautiful than you, smarter than you
But the reality is something else
But we know the truth!
You and I are human, we have our merits and demerits, we all lied, we were all kind, we were both good and bad!
we are equal ..
With this introduction, I wanted to get here that we in the financial markets are involved with an equal scale of types of risk
It means that if I am facing some risks, you are also facing almost the same risks!
So, of course, if we are profitable but have a low win rate, or vice versa, we have a high win rate, but we may not be profitable in the long term.
Accepting this risk is the most basic step of entering the market.
I think money management and risk management are the only keys to success
Our learnings about technical and fundamental analysis only play a role in reducing or increasing the risk of our trade!
Learn The HIDDEN Costs of Trading
In this educational article, we will discuss the hidden costs of trading.
1 - Brokers' Commissions
Trading commission is the brokers' fee for opening a trading position.
Usually, it is calculated based on the size of the trade.
Even though most of the traders believe that trading commissions are too low to even count them, the fact is that trading on consistent basis and opening a couple of trading positions weekly, the composite value of commissions may cut a substantial part of our profits.
2 - Education
Of course, most of the trading basics can be found on the Internet absolutely for free.
However, the more experienced you become, the harder it is to find the materials. So you usually should pay for the advanced training.
Moreover, there is no guarantee that the course/coaching that you purchase will improve your trading, quite often traders go through multiple courses/coaching programs before they become consistently profitable.
3 - Spreads
Spread is the difference between the sellers' and buyers' prices.
That difference must be compensated by a trader if one wished to open a trading position.
In highly liquid markets, the spreads are usually low and most of the traders ignore them.
However, being similar to commissions, spreads may cut the substantial part of the overall profits.
4 - Time
When you begin your trading journey, it is not possible to predict how much it will take to become a consistently profitable trader.
Moreover, there is no guarantee that you will become one.
One fact is true, you should spend a couple of years before you find a way to trade profitably, and as we know, the time is money. More time you sacrifice on trading, less time you have on something else.
5 - Swaps
Swap is the fee you pay for transferring a position overnight.
Swap is based on a difference between the interests rates of the currencies that are in a pair that you trade.
Occasionally, swaps can even be positive, and you can earn on holding such positions.
However, most of the time the swaps are negative and the longer you hold your trades, the more costly your trading becomes.
The brokers' commissions, spreads and swaps compose a substantial cost of our trading positions. Adding into the equation the expensive learning materials and time spent on practicing, trading becomes a very expensive game to play.
However, knowing in advance these hidden costs, the one can better prepare himself for a trading journey.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Are you prepared to lose? (and what to do if you are not)A new trader, let's call her Sarah, has just started trading in the crypto market. She has been reading articles and watching videos about trading, but hasn't taken the time to develop a solid trading plan, or to gain a good understanding of the markets and underlying assets she is trading.
Sarah sees bitcoin's value is going up, she doesn't do any further research or analysis, she doesn't set a stop loss or take profit level, she just buys bitcoin, with the expectation that she will make a quick profit.
Unfortunately, the value of bitcoin doesn't perform as well as Sarah had hoped, and instead of going up, it starts to go down. Sarah gets anxious and starts checking the bitcoin's value frequently, and since she didn't set a stop loss, she watches as her position continues to lose value. Eventually, the bitcoin loses so much value that Sarah is forced to sell it at a large loss.
Feeling disheartened, Sarah starts to second-guess herself and her abilities as a trader. She didn't have a plan or a strategy, didn't manage her risk properly, and didn't have a clear understanding of the markets and the underlying asset. She didn't prepare for the possibility of losses and didn't have a plan for exiting losing positions.
😭😖😞Unfortunately, the story above is very common in trading, so how can we prepare for losing trades?
☝🏽 Preparing for the possibility of losses is an important part of risk management and can help traders to minimize the impact of losses on their trading capital. Some ways to prepare for the possibility of losses include:
1️⃣ Setting realistic trading goals: Traders should set realistic goals that take into account the inherent risks of trading and the potential for losses. By setting realistic goals, traders will be better prepared to handle losses when they do occur.
2️⃣ Establishing a risk management plan: This includes determining the appropriate size of each trade, placing stop-loss orders, and evaluating the potential reward relative to the potential risk. This can help to limit potential losses and protect trading capital.
3️⃣ Maintaining a proper risk-reward ratio: This means that the potential reward of a trade should be greater than the potential loss. This helps ensure that the potential reward justifies the potential risk.
4️⃣ Diversifying the portfolio: By spreading capital across a variety of different markets and instruments, traders can reduce overall portfolio risk and minimize the impact of losses in any one market or instrument.
5️⃣ Building a trading cushion: This means keeping a reserve of capital that can be used to absorb losses and maintain the trader's ability to continue trading. This cushion should be large enough to withstand a series of losses, but not so large that it affects the trader's ability to trade effectively.
6️⃣ Emotionally preparing for losses: It's important to remember that losses are a normal part of trading and to not let them affect you emotionally. By preparing emotionally for the possibility of losses, traders will be better able to handle them when they occur.
7️⃣ Have a plan for exiting losing positions: Having a plan for exiting losing positions will help to minimize the impact of losses on the portfolio. This could include setting a stop loss or taking profits at predetermined targets.
⚠️ Remember, it's important to accept that losses are a normal part of trading and that they are not a reflection of the trader's ability. By preparing for the possibility of losses and implementing a solid risk management plan, traders can minimize the impact of losses and increase the chances of long-term success.
I hope this has been informative to you, and if it was, please leave a like or a comment below.
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Thanks for your visit!
Managing Risk Using Probabilities 3 In part 2 of this series, we discussed the probability of a coin flip and how the odds that you land on heads "x" number of times in a row significantly decreases each time the coin is flipped. Therefore, it is important to understand the difference between "the probability the chart goes up or down" and "the probability that you (the trader) find yourself in a winning trade."
The brings me to my next point of gathering your data. There is a difference between gathering data to calculate the probability an asset will rise or fall versus gathering data on a specific trade set-up and determining whether or not it will win or lose. Backtesting and forward testing are both excellent methods to calculate probabilities. In my honest opionion, backtest at least 100 trades in order to best calculate probability. Ask yourself if you are okay with losing more than 3 times in a row. If your set up loses more than 4 times in a row, it is very likely your odds of being in a losing trade are worse.
Please take the time to think and meditate on this matter. If there are no questions concerning this, I may begin to go into details of my own personal trading set ups on the next article.
Be blessed!
Handy
⚠️Don't let FOMO ruin your trading⚠️FOMO, or "fear of missing out," is a common emotion that can lead to impulsive and potentially reckless trading decisions. ⚠️
✅Here are five key rules to help you respect and manage FOMO in your trading:
🔵 Use risk management techniques.
Proper risk management is critical to successful trading. This includes setting stop-loss orders to limit potential losses and using position sizing strategies to ensure that you don't risk more than you can afford to lose.
🔵 Seek out education and guidance.
If you're new to trading or struggling to manage FOMO, it can be helpful to seek out educational resources or seek guidance from an experienced trader or financial advisor.
By learning more about the markets and trading strategies, you can increase your knowledge and confidence, which can help you make more informed and rational trading decisions.
🔵 Take breaks and step away from the markets.
It can be easy to get caught up in the excitement of trading, but taking breaks and stepping away from the markets can help you clear your head and make more rational decisions.
🔵 Don't let emotions drive your trades.
FOMO can lead to emotional trading, which is often not based on sound analysis or strategy. It's important to stay disciplined and base your trades on objective criteria rather than letting emotions drive your decisions.
🔵 Set clear trading goals and stick to your trading plan.
Having a clear understanding of what you hope to achieve with your trades and a plan to achieve those goals can help you avoid making impulsive decisions driven by FOMO.
👤 @Galerdev
📅 Daily Ideas about market update, psychology & indicators
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KRTX - Has potential to reach new highs giving up to 6RA move above 238$ could take this to new highs
giving a R/R of more than 3.5R.
If price goes above 262$ (78.6% Fib retracement), it's likely it can go towards the 127.2% level around 300$.
"MATIC" Polygon growth potentialHello guys.
hope you are good
today im going to explain a few about the reasons MATIC skyrocketing these days.
i look this happenings in 2 sides:
first Fundamental News
and second Technically.
lets go...
"On Monday, deltaDAO, a data economy solutions company, launched its Gaia-X Web3 Ecosystem network upgrade based on Polygon Supernet.
The Polygon team said the collaboration brings the blockchain at the heart of European data economy.
The partnership enables a global trustless data economy where users are in full control of their data, it added
Antoni Martin, co-founder of Polygon, said the partnership will help provide an open and federated data economy for the European digital ecosystem.
Earlier, Wall Street bank JP Morgan said it successfully executed a trade using the Polygon blockchain network.
This came as a big boost to the Polygon community as it led to MATIC price rise.
Similarly, another major collaboration news came in the form of Instagram with Meta saying it will be using Polygon for its first NFT marketplace. "
Sooo excellent reasons exist for this rally.
now lets see it technically...
the price action breackout a long side move from JULY and surpass the 200MA.
and break the important 1$ resistance.
asnd when we add 55EMA to the chart we see a nice GOLDEN CROSS.
what a nice situation...
lets imagine its just a step of correction so we have C wave in play with at least 78.6% fibonacci level target 1.76$.
and maybe 100% level on 2.6$!
BUT...
be careful if bitcoin come back below 20000 , maybe we see a pullback to 200MA and price 1$ or 0.97$
and after that again it starts.
and in the end
all of this analyze is my personal opinion and you shuold DYOR (Do Your Own Research).
so i use I THINK already :)
dont forget to manage your capital and risks.
and dont forget we play in a VERY RISKY market
so ALL THINGS POSSIBLE...
i hope success for all of you my dear friends.
ATOM Trend Broken!!KEY Levels mapped!
Love it or hate it, hit that thumbs up and share your thoughts below!
Every day the charts provide new information. You have to adjust or get REKT.
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
This is not financial advice. This is for educational purposes only.
Learn TOP 5 Tips For Trade Management 📖
Hey traders,
In this post, I will share with you my tips for trade management.
But first, let me elaborate on what is exactly a trade management.
Trade management is the set of rules and techniques applied for managing of an already active position.
Trade management is a very important element of any trading strategy that should never be neglected.
1. Never remove a stop loss
Being in a huge loss, many traders refuse to admit that they are wrong. Instead, watching how the price moves closer and closer to a stop loss, they remove stop loss hoping on a coming reversal.
The alternative situation may happen when the price is going sharply in the desired direction. Watching the increasing profits, traders remove a stop loss, being afraid to miss bigger profits.
Both situations may lead to substantial, higher than initially planned losses. Driven by many factors, the market can easily burn all gains and move against the desired direction much longer than traders stay solvent.
For these reasons, never remove a stop loss. It must be always set.
2. Never modify your stop loss if a position is in loss
Watching how the price moves closer and closer to a stop loss is painful. Instead of removing stop loss, some traders move it and give the market more space for reversal.
Even though such a technique is safer than the complete stop loss removal, it is still a very bad habit.
Each stop loss adjustment increases the potential loss, not giving any guarantees that the market will reverse.
It is highly recommendable to keep your stop loss fixed and let the price hit it and admit the loss.
3. Know in advance your profit protection strategy
Where do you take your profit?
Do you have a fixed tp level or do you apply trailing stop?
You should always know the answers.
Coiling around take profit level but not being able to reach it, the price makes many traders manually close the trade or move take profit closer to current price levels.
Another common situation happens when the market so quickly reaches the desired TP level so the traders remove TP hoping to make bigger than initially planned profit.
Such emotional interventions negatively affect a long-term trading performance. TP removal may even burn all profits.
Do not let your greed intervene, and always follow your rules.
4. Never add to a losing position
Watching how the price refuses to go in the intended direction and cutting a partial loss, many traders add to a losing trade in hopes that the market will reverse and all the losses will be recovered.
Again, such a fallacy usually leads to substantial losses.
Remember, you can add to a position only AFTER the market moved in the desired direction, not BEFORE.
5. Close the trades manually only following rules
Quite often, newbie traders manually close their trades because of some random factors:
they saw someone's opposite view, or they simply changed their mind.
Remember, that if you opened a trade following your trading plan, you should always have strict rules for a position manual close. Do not let random factors affect your trading.
Following these 5 simple tips, your trading will improve dramatically. Remember, that it is not enough to spot and accurate entry. Once you are in a trade, you should wisely manage that, following your plan.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
1% risk per trade is too much, try this insteadHello traders,
Remember when you just started trading, almost everywhere you could hear about the 1% per trade risk rule? While this is not too bad, I think in most cases 1% risk is too much. Here's why:
1. If you're trading a 100k prop firm account, 1% is $1000. Imagine you have a very usual losing streak of 3-4 trades. Now you've lost 3-4%, and $3-4k in dollar amount. If you're a day trader, it could happen in one day easily. Ask yourself honestly, how would you feel about it all and if you will be capable of executing your edge?
2. Most prop firms will have a 5-10% drawdown breach rule So again, a very usual losing streak will take you halfway to account termination.
3. 1% risk leaves almost no room for days where you executed poorly or traded emotionally. We are all humans and we make mistakes. Something goes wrong and you trade the setup you were not supposed to be trading. And instead of stopping after 3 losers, you continue to trade more.
So what can we do about it?
My suggestion is very simple: risk no more than 0.1-0.25% per trade. If your average winner is 3-7RR, then with a good account size a 1% winner is just huge and more than enough.
And if you're going through the evaluation process, such a small risk will keep your equity curve in control and still will allow you to grow it to profit targets.
Hope it helps!
Position Sizing StrategiesPosition Sizing
Traders spend much of their time looking at charts and analyzing using technical or fundamental analysis, or a combination of both. While this indeed is a very good thing to spend time on, not all traders take their time to focus on risk management, and more specific position sizing. I see a lot of new traders or old traders which trade only to have their accounts blown up by taking random positions with no plan whatsoever. Proper position sizing is a key element in risk management and can determine whether you live to trade another day or not. Basically your position size is the number of shares you take on a trade. It can help you from risking too much on trade and blowing up your account. Without knowing how to size your positions properly. You may end up taking trades that are far too large for your account. In such cases, you become highly vulnerable when the market moves even just a few points against you.
Your position size or trade size is more important than your entry and exit when trading or investing. You can have the best strategy in the world. But if your trade size is too big or too small, you will either take too much or too little risk. So how do you prevent yourself from risking too much? How do you know the right quantity to buy or to sell when you initiate a position? Let's say you have $10,000 in your account, and there's a stock valued at $100 you like and want to buy. Do you buy 100 shares, 10 shares, or some other number? This is the question you must answer to how to determine your position size. If you decide to spend your entire account balance and buy 100 shares, then you will have a 100% commitment to the stock and this is not indicated also in taking a position that represents a large portion of your total portfolio. There is also the opportunity cost involved, you will have to pass up other trades that you may have liked to enter.
Position Sizing is a critical issue that a trader needs to know beforehand and to do on the fly. It's as important as picking the right stock or currency to invest.
Position Sizing Strategies
☀️ There are several approaches to position sizing and I will run down some of the more popular ones.
1️⃣ The first one and the most common one is "Fixed percentage per trade".
Position Sizing can be based on the size of an overall portfolio.
This means a percentage of that overall capital will be predetermined per trade and will not be exceeded. That would be 1% or even 5%.
This fixed percentage is an easy way for you to know how much you are buying when you buy to use a simple example of fixed percentage position sizing. Let's take again the $10,000 account size and a $100 stock. If you take a simple one-person position based on your account size that comes down to a single share, you may be thinking you are no better than the person with a $100 account buying one share. The difference is that the $100 account holder has a 100% position size while the $10,000 account holder is putting just one percent at risk.
Which position size allows a trader to sleep better at night? Of course, the second position sizing helps control the risk. A 1% hard limit on each trade allows you to tolerate many losses in your search for profits.
Protecting your capital is your primary job. Your secondary job is allowing room in your portfolio to find other trading opportunities.
The fixed percentage amount is an easier approach to accomplishing this
2️⃣ The second risk management approach involves a "fixed dollar amount per trade". This approach also uses a fixed amount for this time. It's a fixed dollar amount per trade, rather than a percentage of the actual portfolio. This involves choosing a number again and using the same $10,000 portfolio as an example. So you decide you won't spend any more than $200 on any trade. For traders with small account sizes, this can be an attractive approach because it limits how much you can lose.
However, it also limits what stocks you can buy. You will have to roll out some securities based solely on their price. Of course, this is not necessarily a bad thing.
3️⃣ The third approach is "volatility-based position sizing"
A more complex approach, but one that allows for more flexibility is position sizing based on the volatility of the security you plan to buy. It's more dynamic because it doesn't treat each stock the same. This approach allows you to drill down and exercise finer control over your portfolio. For example, growth stocks will invariably be more volatile, and that volatility will be reflected in your portfolio. To reduce that overall risk on your portfolio. You wouldn't buy less high volatility stocks than you would lower volatility stocks.
You can measure volatility with something as simple as a standard deviation over a given period, say 15 or 10 trading days. Then depending on the deviation, you adjust the number of shares you buy when you initiate a position. This allows lower volatility stocks to have more weight in your portfolio than higher volatility ones. Position Sizing based on this ideology lowers the overall volatility within a portfolio. This strategy is frequently used in large portfolios.
Even longer-term traders and investors face position sizing questions for them when the price of a security with their holding goes down. It represents more value. Adding to their position, in this case, is referred to as averaging down. Long-term traders can decide to average down using similar position sizing approaches by risking either a fixed dollar amount or a percentage amount when the stock trades down you can use standard deviation here as well to help figure out the dollar amount.
Some additional common sense risk parameters seem worth mentioning and may be incorporated into your trade plan. For example,
Once you've figured out how much you're comfortable losing a stop loss level for each trade should be determined and placed in the market. A seasoned trader will generally know where to put their stop loss orders after having optimized their trading plan and chart analysis is often performed when setting stop-loss orders rules of thumb should be followed when you use stops to manage risk on your positions.
By now I hope you realized that correct position sizing is crucial. You should always consider how much you buy when you buy and also know how you came up with that number. Regardless of your account size. Take the time to come up with a consistent approach that matches your trading style and then stick to it. You can incorporate flexibility as well. For example, if you're willing to take more risks with your portfolio, you can die a lot of the person that you use. sound money management techniques can help make an average trader better and a good trader becomes great.
For example, a trader that is only right half of the time, but gets out of losing trades before the loss becomes significant and knows the right winners to a substantial profit would be way ahead of most others with trade with no clear plan of action whatsoever. And you have to find the right balance because if you risk too little and your account won't grow and if you risk too much, your account can be destroyed in a few bad trades.
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Higher RRR, the higher the chances of profit & consecutive lossLower RRR = Low drawdowns (Lower consecutive losers)
Higher RRR = High drawdowns (Higher consecutive losers)
To not go against the prop firm's drawdown rule of > 10% rule, You should risk..
risk per trade = 10/consecutive loser
Example.
risk per trade = 10/7 = 1.4285%
So you should risk < 1.4285% per trade.
REACTING TO THE ECONOMIC NEWS ON ETH 05/05/2021Yesterday was a wild day for Crypto, Stock and Indices (this gave us intraday traders an exciting day)
A half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation.
ETH failed to reclaim back the $3000 mark and we had a picturesque Supply Pattern.
Stop loss = 1% Risk
Take Profit = 5.6% Reward
R/R = 5.60/1
Due to the High Volatility we scaled to the 15m to action this trade.
Hope you enjoy this trade idea.