Bitcoin - short squeeze or real pump?
Hello, everyone!
My stop loss was hit by the BTC price, I lost 0.8% of depo – OK. Guys, there are a lot haters that I am wrong again. I understood that people want to know 100% which side will market choose. It’s impossible! We should risk no more than 1% of deposit in every deal – it means that if the stop loss was hit you lose only 1% of your deposit! I told it 1000 times and decided to repeat it in every post because the new subscribers don’t understand this simple idea. I am not blame them, when you are novice trader you are searching for the 100% successful strategy and listen a lot of analysts who draw the future price action. You choose the most successful analyst and follow him until he make a mistake. You lost the huge part of your deposit. Why? Because your risk was 10%, 20%, 30 or…100% of your portfolio. This is gambling, not trading, guys. I am professional trader and use the fixed VaR(value at risk) which is appropriate for the long run winning. I use VaR = 0.5-2% of my deposit according to the timeframe. I can lose the no more than 5% of my depo per month. The main problem is to save your money – not earn – please, hear me!
You are wondering how I can earn money if 70% of my forecasts are wrong. Because my risk to reward is 1:4 and more. It is absolutely normal to be wrong if you are reversal trader. I hope you hear me!
What is next? I saw the candle with the long wick and huge volume, which took a lot of short’s stop losses, including my. I executed short position again but think it’s too early, we should wait for the confirmation (bearish divergence). I suppose that we can see pump again above 45k to liquidate all short positions, but the overall market structure is bearish for me.
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
My stop loss was hit by the BTC price, I lost 0.8% of depo – OK. Guys, there are a lot haters that I am wrong again. I understood that people want to know 100% which side will market choose. It’s impossible! We should risk no more than 1% of deposit in every deal – it means that if the stop loss was hit you lose only 1% of your deposit! I told it 1000 times and decided to repeat it in every post because the new subscribers don’t understand this simple idea. I am not blame them, when you are novice trader you are searching for the 100% successful strategy and listen a lot of analysts who draw the future price action. You choose the most successful analyst and follow him until he make a mistake. You lost the huge part of your deposit. Why? Because your risk was 10%, 20%, 30 or…100% of your portfolio. This is gambling, not trading, guys. I am professional trader and use the fixed VaR(value at risk) which is appropriate for the long run winning. I use VaR = 0.5-2% of my deposit according to the timeframe. I can lose the no more than 5% of my depo per month. The main problem is to save your money – not earn – please, hear me!
You are wondering how I can earn money if 70% of my forecasts are wrong. Because my risk to reward is 1:4 and more. It is absolutely normal to be wrong if you are reversal trader. I hope you hear me!
What is next? I saw the candle with the long wick and huge volume, which took a lot of short’s stop losses, including my. I executed short position again but think it’s too early, we should wait for the confirmation (bearish divergence). I suppose that we can see pump again above 45k to liquidate all short positions, but the overall market structure is bearish for me.
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
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