@blinkypro, It's funny I took 5% profit and I'm short again? You have such great humor. :-)
Legiontrading
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Still short??
ChartCrushers
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@eernst.michael, Yes sir. Stopped with profit and I have re-entered the position.
Legiontrading
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@Blockchain_Bob, thanks dit response bob. In in since 454. What is a good stoploss?
ChartCrushers
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@eernst.michael, so right now it's tricky. The trade has a stoploss of 479, but because it is a bullish looking 4hr chart, if btc begins to retrace and dominance begins to drop then it's possible for funds to flow into this. So I would close way before the stop if I feel that to be the case. let's see.
For me the most important parts of trading are risk management and protection of capital. I play small positions so for me I risk up to 20% on a stoploss. But for me that means if I get stopped out I lose 1% of my account since I play 5% positions. That is no big deal. But if you play a 50% position and risk 20% now you are risking 10% of your account. That is a lot of risk on just one trade. All it takes is one whale to change the market. The market is very risky. As such one mush protect capital above all else. A trader without capital is no longer a trader