Coming back on the recent trades
Move not unless you see an advantage; use not your troops unless there is something to be gained; fight not unless the position is critical; Sun Tzu
2 Days ago, we tried 3 setups in order to gain experience in trading. 1 of them was successful. let’s see what worked and what didn’t.
In a second time, we will try to make predictions on the upcoming events and the big cryptos such as BTC, ETH.
This week trades
I bought RAY @ 13,6 on average. My TP1 was @ 16,4 and my SL @ 11,95.
The price went up to 16,3 which is 0,7% close to my TP1. Then it began going down. I rose my SL to 14,6 which secured a profit of 7%. The price continued to go down and then came back to 14,6.
My TP1 @ 16,4 was set with Fibonacci. I’ve been quite unlucky I think to not hit it, it was “only” 20% up from my entry, and missing it by 0,7% feels not right.
But I reacted properly by raising my SL on the way down and 7% still is a great profit in such a low time frame (3 days). Not much to learn from this trade that I can be proud of !
Bought @ 2,64, SL @ 2,50 & TP1 @ 2,85.
First thing: my SL was way too low. Any dip under 2,56 would have confirmed a downward move out of the compression triangle. I lost 5,3% when I could have lost 3,2%.
That’s pretty much it. My TA was on point, my triangle was even retested before going down.
Bought @ 415, SL @ 389, TP1 @ 480.
Same thing as ENJ, my SL was way too low. I have to believe in my triangle before entering a trade, or else it is not meant to be. 398 would have been better, making my loss a 4% instead of a 6,3%.
Other opportunities where I stayed out
DOT went down 7% the next day. i would have been stopped out.
AVA is interesting:
I would have entered the trade on the exit of the compression triangle. Then it came down to the lower part of the triangle (-5%), and then it came up and broke the upper line.
I think I would have been stopped out. As I said earlier, I have to believe in my triangles.
But what I noticed is that, since we are in a bull run, a more efficient strategy would have been to DCA every trade on the way down. This way they would have been all successful. Maybe something to think about in the future, but we have to keep in mind that it would open the possibility to take a major loss on a big correction.
Pretty bullish if you ask me. Volume on the rise, good configuration. Support levels strengthened. Time to moon for the last part of the bull run. Target 78k ?
Time to breath a little bit. We exit the little compression triangle on the way down, we range a bit between 3200–3400 and then ?… If we go down → 3000, or 2500 if the entire market takes a hit. If we go up ???
End of this week, we take a look at the KPIs, and we get ourselves ready to enter new trades the next time the market takes a major hit. We have to get our portfolio growing one last time before the end of the bull run (damn that sentence feels like I’m might get trapped in the bear run).