Best Advice For Struggling Crypto & Forex TradersJun 29, 2021
A trade is not a trade if you do not have an entry, a take profit, and a stop loss. If you cannot defy your risk with your stop loss, you are not trading, you're gambling. So I would not take a trade, for example, the trade that happened today with Ethereum.
Like I said, my lady told me, "Why don't you just buy?" She was like, "If you're wrong about it going down, just buy the market." Even though I did follow what she told me to do, what she suggested and I bought it, I did not take the train until I defined my risk. You have to define your risk. So the last event in Nvidia, which allows us to be able to define the risk, and here's the thing, people think that you have to catch the entire move to be profitable.
No, what you can do is you can catch a small part of the move where you're highly confident on and increase your position size, increase your leverage, increase your position size with your stop loss because you defined your risk.
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A trade is not a trade if you do not have an entry, a take profit, and a stop loss. If you cannot defy your risk with your stop loss, you are not trading, you're gambling. #Ethereum #Bitcoin #Cryptoccurency pic.twitter.com/Ys3EfKgyWe— TTM (@ttmeducation) June 29, 2021
*DISCLAIMER*: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based on speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This for entertainment purposes.
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