CRV Long Trade Setup - Strong Bullish Momentum Despite BTC
Hello Traders,
Here is my analysis / Trade Setup for CRV/USDT
CRV is one of my favorite cryptos to trade. When it is Bullish it often has strong momentum as well as predictable formations.
***Personally I probably won't enter this trade due to my conservative nature and wanting to keep cash free for other trades I have in mind and incase BTC tanks. But this is a good trade setup I wanted to share with all of you.
1) Wait for a pullback, get the confirmation bounce at $2.51 and enter a long.
2) Set stop loss around $2.38
3) Take Profits around $2.92
- You may notice that my take profit is lower than the local high, that is because I am a conservative trader. I would rather lock in profits a little early than try and squeeze out another 1% and risk price dropping early and not taking profits. In fact personally I would probably take profits even earlier just to be safe.
- However this is just a guide, you are the one who ultimately decides how you want to trade.
***Trading Wisdom***
- "The less you trade the more you make."
- I Know this sounds counterintuitive but let me explain.
- Lets say one trader take 10 trades a week. They win 6 lose 4. - 60% win rate
- VS. a trader who takes 5 trades a week but loses 1. - 80% win rate
- Strive for quality over quantity. If you can't be disciplined or patient you will lose out in this game of trading.
- Monitor the charts daily, be patient and wait for the chart to tell you when it is time to enter a trade.
- It is extremely hard to make money trading, I think somewhere around 90% of new traders lose their money.
- It is important to think like a pro, and a pro is patient, disciplined and never chases a trade, they wait for the trade to come to them.
***Last Note***
- For those who are curious... On average I probably take no more than 2 Trades a week. Could I take more and make money? Yes. But again I am looking for high probability trades. I only take a trade if I have and edge and have an 80% chance of the trade playing out how I expect.
- 2 trades a week is 100 trades a year. Average gain 10%, average loss 2%. Win rate 80%
- 80 wins X 10% = 800%
- 20 Losses X 2% = 40%
- Total 760% *This is not exact but close to my averages.
- This just goes to show how if you are patient and take your time you can make massive gains over time.
Happy Trading and Best of Luck!
Here is my analysis / Trade Setup for CRV/USDT
CRV is one of my favorite cryptos to trade. When it is Bullish it often has strong momentum as well as predictable formations.
***Personally I probably won't enter this trade due to my conservative nature and wanting to keep cash free for other trades I have in mind and incase BTC tanks. But this is a good trade setup I wanted to share with all of you.
1) Wait for a pullback, get the confirmation bounce at $2.51 and enter a long.
2) Set stop loss around $2.38
3) Take Profits around $2.92
- You may notice that my take profit is lower than the local high, that is because I am a conservative trader. I would rather lock in profits a little early than try and squeeze out another 1% and risk price dropping early and not taking profits. In fact personally I would probably take profits even earlier just to be safe.
- However this is just a guide, you are the one who ultimately decides how you want to trade.
***Trading Wisdom***
- "The less you trade the more you make."
- I Know this sounds counterintuitive but let me explain.
- Lets say one trader take 10 trades a week. They win 6 lose 4. - 60% win rate
- VS. a trader who takes 5 trades a week but loses 1. - 80% win rate
- Strive for quality over quantity. If you can't be disciplined or patient you will lose out in this game of trading.
- Monitor the charts daily, be patient and wait for the chart to tell you when it is time to enter a trade.
- It is extremely hard to make money trading, I think somewhere around 90% of new traders lose their money.
- It is important to think like a pro, and a pro is patient, disciplined and never chases a trade, they wait for the trade to come to them.
***Last Note***
- For those who are curious... On average I probably take no more than 2 Trades a week. Could I take more and make money? Yes. But again I am looking for high probability trades. I only take a trade if I have and edge and have an 80% chance of the trade playing out how I expect.
- 2 trades a week is 100 trades a year. Average gain 10%, average loss 2%. Win rate 80%
- 80 wins X 10% = 800%
- 20 Losses X 2% = 40%
- Total 760% *This is not exact but close to my averages.
- This just goes to show how if you are patient and take your time you can make massive gains over time.
Happy Trading and Best of Luck!