One month ago (8Sept17), I publicly stated my view that Ethereum has good upside potential. My belief, is that we are going to exceed $500.
As a result, this is a great opportunity as an Investor (and Speculator0 to start what I term as "squirreling", that is to say, start accumulating your acorns so they may grow.
Now Ethereum recently has been treading water and I cant tell you when it will move but I am the view that this is the time to be positioning yourself for a potential move higher.
Note: We already have a Long trade out but this update supplements that trade.
Sean Vengan 10+ Years Professional Trader and Trading Educator
REALITIES IN TRADING: In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading. We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE. Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades). Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY. Always factor in "WHAT IF I LOSE MONEY ????"
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Hello @SEAN_VENGAN , Thank you for all the analysis and advice.
I have some experience in stock investing, mostly buy and hold type, but crypto trading is totally new to me and I find the fluctuations too wild to understand the pattern.
I try to avoid losses by stop lossing but I haven't been very successful. It always bounces back the moment I sell everything in a stop loss.
My question is, how should I determine a correct stop loss price? What advice will you give to a relative newbie like me?
Thanks in advance
UnknownUnicorn1063189
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@Amit26, Not juts crypto trading but for trading period it is always difficult to know where to place a stop.
The best answer is at what price would it need to hit/pass in order to invalidate your analysis? Ass to that Risk Management and you have a Stop Loss Plan
Amit26
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Thanks @SEAN_VENGAN,
captrade
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i think alts are ded. my moon dreams have been destroyed by the fiery fury of the btc rocket ship.
lucamodena
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@captrade, it just means you are a bad trader. The lower it goes in the next few days/weeks the higher it will end up in the next few months.
UnknownUnicorn1063189
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@lucamodena, I share your sentiment Luca that many altcoins are set to rise
FJ1055
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Sean, thank you for the clarity you bring to trading ETH, it's very much appreciated.
I have been long on ETH since it was 9 to 12 dollar when I accumulated a lot of my ETH. I am looking to start selling it some off. Hopefully things pan out and the huge upside presents a better selling opportunity.
UnknownUnicorn1063189
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@ap999, I consider investing in ETH like investing in a stock, from a technology point of view, With the TA supporting this, I believe ETH has a great potential and very bright future.
You did very well to accumulate at that price. Well done.
I have some experience in stock investing, mostly buy and hold type, but crypto trading is totally new to me and I find the fluctuations too wild to understand the pattern.
I try to avoid losses by stop lossing but I haven't been very successful. It always bounces back the moment I sell everything in a stop loss.
My question is, how should I determine a correct stop loss price? What advice will you give to a relative newbie like me?
Thanks in advance