Good evening, guys! Some of you have said that I only talk about trends and don’t share any actionable insights, so today I’m going to share some of the key ideas behind my recent trades!
Over the past few days, whether it’s major cryptocurrencies or the U.S. stock market, Brother Qiang’s approach to entering the market has stayed the same: buy the dips.
As long as the overall trend hasn’t changed significantly, I won’t change my trading plan just because of a short-term rebound.
There are two conditions I look for before entering a trade:
First, confirmation of a bottom.
I don’t assume the price has bottomed just because it has fallen a lot.
I look at key support levels, trading volume, and price action to determine whether the price has truly entered a bottoming zone.
Second, signs of an upswing.
After a bottom is confirmed, I also look to see whether the market is really starting to gain momentum.
Price action and trading volume often provide the answer.
Set your stop-loss as soon as you enter. Every trade needs a stop-loss, and you should aim for a 2:1 risk-reward ratio based on that stop-loss.
This is the trading system I’ve been using lately, and I think it works really well—whether you’re trading major assets or SanDisk$ZEC .
If you’re having trouble identifying the overall trend or haven’t developed a trading system of your own yet, come ask Brother Ying in the chatroom!!
#币圈生存法则
#Trading
Over the past few days, whether it’s major cryptocurrencies or the U.S. stock market, Brother Qiang’s approach to entering the market has stayed the same: buy the dips.
As long as the overall trend hasn’t changed significantly, I won’t change my trading plan just because of a short-term rebound.
There are two conditions I look for before entering a trade:
First, confirmation of a bottom.
I don’t assume the price has bottomed just because it has fallen a lot.
I look at key support levels, trading volume, and price action to determine whether the price has truly entered a bottoming zone.
Second, signs of an upswing.
After a bottom is confirmed, I also look to see whether the market is really starting to gain momentum.
Price action and trading volume often provide the answer.
Set your stop-loss as soon as you enter. Every trade needs a stop-loss, and you should aim for a 2:1 risk-reward ratio based on that stop-loss.
This is the trading system I’ve been using lately, and I think it works really well—whether you’re trading major assets or SanDisk$ZEC .
If you’re having trouble identifying the overall trend or haven’t developed a trading system of your own yet, come ask Brother Ying in the chatroom!!
#币圈生存法则
#Trading
