1/8 GM everyone,
Time for some trade brake down as one of the people in the comments was confused on why the SL was moved into profit.
Q: why move the SL to profit, nothing changed.
A: The whole regime of the trade changed once is in profit.
Time for some trade brake down as one of the people in the comments was confused on why the SL was moved into profit.
Q: why move the SL to profit, nothing changed.
A: The whole regime of the trade changed once is in profit.
https://twitter.com/MisterSpread/status/1556975825291018243
2/8 Q: OK but moving the SL in profit you don't have same RR.
A: Let's extrapolate, from 500 trades if I manage to have SL in profit for 400 of them & 100 closed on usual SL with RR 1/2.5 you think is a good ratio?
This is my "edge" & I'll capitalize on it while minimizing loses
A: Let's extrapolate, from 500 trades if I manage to have SL in profit for 400 of them & 100 closed on usual SL with RR 1/2.5 you think is a good ratio?
This is my "edge" & I'll capitalize on it while minimizing loses
3/8 What happened with the initial $BNB short:
After the trade went ITM (in the money) I placed the StopLoss in profit and on yesterday's better than expected #CPI print it was closed.
I almost never trade on high volatility news, so I waited for the dust to settle.
After the trade went ITM (in the money) I placed the StopLoss in profit and on yesterday's better than expected #CPI print it was closed.
I almost never trade on high volatility news, so I waited for the dust to settle.
4/8 Opened a new $BNB short position:
I know, I know #ETH Goerli merge was successful lots of people are ultra bullish on #alts now, but I don't trade what I want to see, I trade what I see.
Trade: $BNB short
Entry: $332,15
SL: $339 (above 25th of May highs)
TP: $316
I know, I know #ETH Goerli merge was successful lots of people are ultra bullish on #alts now, but I don't trade what I want to see, I trade what I see.
Trade: $BNB short
Entry: $332,15
SL: $339 (above 25th of May highs)
TP: $316
5/8 New $BNB short technical explanation:
#BNBUSDT : On H4 it printed a "rising wedge" pattern. YES, yesterday we had high volumes but they were not consistent and now it looks more like a fakeout.
If buyers fail to defend $330 as support then $318 can be tested.
#BNBUSDT : On H4 it printed a "rising wedge" pattern. YES, yesterday we had high volumes but they were not consistent and now it looks more like a fakeout.
If buyers fail to defend $330 as support then $318 can be tested.
6/8 #BNBBTC :As mentioned previously although it is in Price Discovery a retrace to the previous ATH is to be expected.
Here even more than vs USDT, the price action already confirmed the rising wedge breakout to the downside. If buyers don't defend 0.01345 more downside follows.
Here even more than vs USDT, the price action already confirmed the rising wedge breakout to the downside. If buyers don't defend 0.01345 more downside follows.
7/8 A much more safer trade would be to "let the price come to us" meaning a retrace towards $320 breaking the lower trend line of the wedge and entering at retest (around $325) with SL at $331 and TP $310.
8/8 Part of my #trading strategy is recognizing my strengths (one of it is my "edge") but also my weaknesses.
I respect my strategy & remember that money is made at the exit not the entry.
Stay safe, green trades !
I respect my strategy & remember that money is made at the exit not the entry.
Stay safe, green trades !
• • •
Missing some Tweet in this thread? You can try to
force a refresh
