Assumption: Bitcoin price is stable or even bullish. If Bitcoin turns bearish again, this trade has to be stopped.
We can observe a "day-level" divergence on ETH price.
Please adjust the leverage and calculate your own the great amount you may lose before starting any trade.
Long (10%)296-302USD
(30%)290-294USD
(40%)280-289USD
We keep 20% position until we confirm the break out(i.e. breaks 310USD with volume) then we may utilize the high leverage platform(i.e. Bitmex) to start a scalp trading and can expect to close that newly added position in 48Hours. Please use 20x or lower with VERY VERY VERY little amount of your deposit with this scalp trading.
You should only put "all you can lose" on high leverage trading. A platform provides you with 100x leverage but you do not need to use the highest leverage.
Strict Stop loss: 272USD
If it breaks 279USD, we should close some long position above 290USD. It seems a bit sensitive but we care about the total ROI of your portfolio. Strategies must be defensive in order to protect your funds.
Our target price will be 340-348USD. If you can hold longer, we may see 360USD in coming weeks. If you want a fast profit and want to sleep well, you can take profit at 330USD, it is expected to reach in coming days. If ETH price breaks 340USD and pullback, please lock profit at 330USD and close all margin position.
Start bitmex trading with 10% discount on trading fee(No KYC is needed):
www.bitmex.com/register/11KcvY
We can observe a "day-level" divergence on ETH price.
Please adjust the leverage and calculate your own the great amount you may lose before starting any trade.
Long (10%)296-302USD
(30%)290-294USD
(40%)280-289USD
We keep 20% position until we confirm the break out(i.e. breaks 310USD with volume) then we may utilize the high leverage platform(i.e. Bitmex) to start a scalp trading and can expect to close that newly added position in 48Hours. Please use 20x or lower with VERY VERY VERY little amount of your deposit with this scalp trading.
You should only put "all you can lose" on high leverage trading. A platform provides you with 100x leverage but you do not need to use the highest leverage.
Strict Stop loss: 272USD
If it breaks 279USD, we should close some long position above 290USD. It seems a bit sensitive but we care about the total ROI of your portfolio. Strategies must be defensive in order to protect your funds.
Our target price will be 340-348USD. If you can hold longer, we may see 360USD in coming weeks. If you want a fast profit and want to sleep well, you can take profit at 330USD, it is expected to reach in coming days. If ETH price breaks 340USD and pullback, please lock profit at 330USD and close all margin position.
Start bitmex trading with 10% discount on trading fee(No KYC is needed):
www.bitmex.com/register/11KcvY
Comment:
As BTCUSD has been painting a flag, we now reduce our LONG position to 30% at 288-292USD.
We are not taking a bearish view, it is a 50/50 chance to go up or down, but we should always manage the risk as we never "gamble" in trading. We should not satisfy with 50% win rate in MARGIN TRADING. We only start MARGIN TRADING with 70-80% or higher chance. Now the chance of going up is reduced so we reduce our position size to reduce the risk. You may choose to close the position now or at any time(Risk of margin is removed).
Do not only focus on "gambling" the market up or down. Put more effort on risk management and fundamental analysis, which can really benefit to the growth of your wealth.
We are not taking a bearish view, it is a 50/50 chance to go up or down, but we should always manage the risk as we never "gamble" in trading. We should not satisfy with 50% win rate in MARGIN TRADING. We only start MARGIN TRADING with 70-80% or higher chance. Now the chance of going up is reduced so we reduce our position size to reduce the risk. You may choose to close the position now or at any time(Risk of margin is removed).
Do not only focus on "gambling" the market up or down. Put more effort on risk management and fundamental analysis, which can really benefit to the growth of your wealth.
We should have 80-100% position as correction has been done yesterday. The lowest price has been 282USD.
you average base price of LONG position should be 288-292USD. ETHUSD has reached 308USD at about 22:00(GMT+8). It is OKAY to stay clam.
Here is our plan for risk management:
As we have 100% position with base price 288-292USD. It is about 296USD when I update this trade. We may reduce our position by setting a stop-loss order(For BITMEX UI, choose the box "reduce position only") at 289USD. We reduce 30-50% of position size depending on the situation. If you are really panic about the market, you can simply close now with little profit, or, set 70-100% stop-loss order(For BITMEX UI, choose the box "reduce position only") at 290USD. Thus your fund is 100% **SAFU**~
(SAFU is a crypto-community joke of Binance, mean "safe".)
Again, do not put MORE THAN ALL YOU CAN LOSE in MARGIN TRADING.
Jole Saitama:
"When we manage the position size, we manage the risk.
We trade for live, not live for trade."