Ive been experimenting with the strategy of going long and short at the same time, in a way.
I know theres a name for this strategy but im forgetting it at the moment.
Anyway this strategy has been very successful for me so I am trying to document it more because I've been opening a lot of trades at the same time and its becoming hard to keep track of them all.
BTC dumped but is still showing a little strength for a bounce.
The DXY is pulling back a bit and SPX is still selling off.
I feel very soon crypto will get a big rally.
MATIC looks decent enough to take a shot at it. very low leverage (2x) and tight stop.
Theres a harmonic pattern too on the 4hr.
So in a sense we are playing both sides as you should when trading because the market is always moving in both directions. You're going to lose money no matter what so the best option is to mitigate losses. Ideally you're building up small amounts of profits over time.
We long support and short resistance. BUT ALWAYS with an edge.
There are two short positions there because I will add to my positions there. If the trend breaks resistance I will cut my shorts and ride the profits of my longs.
I know theres a name for this strategy but im forgetting it at the moment.
Anyway this strategy has been very successful for me so I am trying to document it more because I've been opening a lot of trades at the same time and its becoming hard to keep track of them all.
BTC dumped but is still showing a little strength for a bounce.
The DXY is pulling back a bit and SPX is still selling off.
I feel very soon crypto will get a big rally.
MATIC looks decent enough to take a shot at it. very low leverage (2x) and tight stop.
Theres a harmonic pattern too on the 4hr.
So in a sense we are playing both sides as you should when trading because the market is always moving in both directions. You're going to lose money no matter what so the best option is to mitigate losses. Ideally you're building up small amounts of profits over time.
We long support and short resistance. BUT ALWAYS with an edge.
There are two short positions there because I will add to my positions there. If the trend breaks resistance I will cut my shorts and ride the profits of my longs.
Comment:
BTC wont stop dumping so I got stopped out. Might re enter when I see a better edge. Small loss because I wasnt trading big on this one. Risk management is key