BITCOIN PROTECTING PROFITS current $4587.78 9Oct17
Diupdate
More important than entering a trade is MANAGING A TRADE and EXITING A TRADE.
We are currently achieving just over R:R 6:1 - meaning for every $1 we risked we are getting $6 back. A great ROI.
I appreciate some of you struggle with understanding Risk Reward but it isessential that you take the time to LEARN.
What you don't want after doing great analysis and picking a winner is to lose a large chunk of your unrealised profits or worse still have a winning trade turn into a losing trade.
So here is a technique:
We move to a lower time frame chart (as an example a 30min chart is shown) and trail our stop to the last swing low. Why the last swing low, because a break of this low is potentially a change in structure indicating a potential start of a trend change
Our Target T2 still remains in place, but we are giving it some wiggle room to allow it to hit our T2, whilst protecting our unrealised profits
There are very few guarantees in trading but the Market can now do whatever it wants to do, this cannot change our LOW RISK VERY HIGH REWARD trade.
So by EFFECTIVE PROFESSIONAL TRADE MANAGEMENT, whatever happens, this is a GUARANTEED WINNING TRADE.
P.s What happens IF we hit T2: We take our trade-off, review what we did well on this trade and then sit back and RELAX at a job well done.
*** So please don't ask me what will happen next. Traders need to TAKE TIME to enjoy their successes. ***
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
We are currently achieving just over R:R 6:1 - meaning for every $1 we risked we are getting $6 back. A great ROI.
I appreciate some of you struggle with understanding Risk Reward but it isessential that you take the time to LEARN.
What you don't want after doing great analysis and picking a winner is to lose a large chunk of your unrealised profits or worse still have a winning trade turn into a losing trade.
So here is a technique:
We move to a lower time frame chart (as an example a 30min chart is shown) and trail our stop to the last swing low. Why the last swing low, because a break of this low is potentially a change in structure indicating a potential start of a trend change
Our Target T2 still remains in place, but we are giving it some wiggle room to allow it to hit our T2, whilst protecting our unrealised profits
There are very few guarantees in trading but the Market can now do whatever it wants to do, this cannot change our LOW RISK VERY HIGH REWARD trade.
So by EFFECTIVE PROFESSIONAL TRADE MANAGEMENT, whatever happens, this is a GUARANTEED WINNING TRADE.
P.s What happens IF we hit T2: We take our trade-off, review what we did well on this trade and then sit back and RELAX at a job well done.
*** So please don't ask me what will happen next. Traders need to TAKE TIME to enjoy their successes. ***
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Catatan
You all know by now by now my contribution to this Forum is in providing Professional Trading Advice but I also feel strongly about raising the standard.Just so you are clear.
You are free to DISAGREE or AGREE with my TA, views and opinions, I have no issue with that whatsoever, as I have the every right to disagree or agree with your TA, views and opinions.
However, personal attacks and bullying on me or any other trader will not be tolerated.
To this end, I am pleased we are winning our battle against the abusers, haters and bullies. Continue to stand up and speak up as a Professional Community as silence gives them the false idea they are supported.
The moderators did a sterling job and recently removed their abusive comments:
and 1 of the 2 hates has received a PERMANENT BAN. The other trader who has been here just 1month has been advised to behave appropriately.
We are all adults and must conduct ourselves RESPECTFULLY there is no room for hateful and abusive comments. This trading forum is to share analysis, ideas and knowledge & experience with the ultimate aim for as many of us to make money $$$.
Catatan
PROFESSIONAL ADVICE:Price is currently $4624.10 our target is 4646 (thats roughly $20 difference).
CLOSE THIS TRADE WITH PROFIT.
REASON: In trading they saying is: "Don't be a Dick For a Tick".
This means don't look for PERFECTION of hitting a target, $20 os nothing in this 7:1 Risk Reward Profit!
*** CLOSE THE TRADE FOR A MASSIVE 7:! PROFIT ***
I will send you al my Bitcoin Address.
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