Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) That's the best way to support me and help pushing this content to other users.
I bought ADBE at 28...honestly wish I had more shares than only 50...hurts looking at where we are today and how many I could've bought back then. Back then $28 felt expensive, can you believe it? What would you do in 2019? Get out or keep them? The price will never drop to $28 again....though it would hurt if we dropped down to 100s from where we are today. Advice welcomed.
Taiwan_Bear
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Very good contents. Thanks Phil.
VanBenno
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I learn more from this guy than anyone else on TradingView. I'm kind of baffled that these video's are rarely (never?) seen on the front page and that this comment section isn't overflowing.
I was wondering, though. Are there any video's discussing how he conducts risk management? I don't do leveraged trades but I've always had a hard time with Stop-Losses and the "limit-loss" thing on Binance. The Binance one doesn't really make too much sense to me because I'm just trying to set a stop loss but it also wants me to do a regular limit sell order at the same time.
The biggest issue I have with SL's is that mine either; 1.) never get triggered despite the price of my asset getting to and falling below my stop. It's like there were no buy orders at my stops price /or/ the value of the asset fell so fast that someone else was immediately willing to sell below my price so my order could never get filled.
Or; 2.) My stop juuust barely gets triggered, all my coins get sold for fiat, and then the price just bounces back up to where it was the last time I sat at my computer. I swear this is happening because of some illicit trading practice being conducted by the exchanges. They know where the stops and the margins are placed and will just manipulate the price of a coin via Flash Crash for just long enough to liquidate all those leveraged trades and eat up whatever SL's happen to be in the way. It sounds like paranoid thinking but it's at least possible in a market as unregulated as this. Probably even on the old-world exchanges as well.
How do people avoid this? The tools on Coinbase and Binance are pretty limited.
Taiwan_Bear
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@VanBenno, I think people here on TradingView prefer to look at charts that can hit the PLAY button to see whether a trader is good or not (not saying if that matters). If I were to look for videos, I would go to YouTube instead.
In saying that, you can see Phil's post always have a good ratio of views/likes because many people do appreciate his work.
Not sure if he has one video just for risk management but he talks about risk managing in most of his videos.
Taiwan_Bear
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@VanBenno, Perhaps the way you identify support/resistance isn't ideal? Or perhaps your SLs are set too tight?
VanBenno
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What's the indicator on the right side of the chart he's using called? I keep seeing it and it looks pretty useful. Does it aggregate the amount of volume per dollar throughout market history? Or am I way off?