Re: I'm a full-time crypto trader. Here're my recent trades & answers to questions
Thank you Mark for the charts.
Probably you explain stop losses? In theory, everything is clear. But it depends so much on several factors. What do you consider while setting?
You wrote that we can ask questions, soooo
Probably you explain stop losses? In theory, everything is clear. But it depends so much on several factors. What do you consider while setting?
You wrote that we can ask questions, soooo
Sure. Will point out some setups for intraday.
STOP-LOSS
1) ALWAYS set stop losses (obviously, but still)
2) The base for your stop is not a book, but the current pattern, market state & your strategy:
- Look at highs / lows, strong levels
- Consider volatility
- And volume
- Pattern size
3) Do not link stops to beautiful numbers (8000, 9000 etc). Just calculate it
4) Calculate possible risk you can afford in advance (this is about the position sizing also, as well as the next point)
5) Calculate risk-reward ratio in advance
Sometimes I move stop losses to breakeven, but this is a searate issue and should be treated with extremely high attention