LTC - Still keeping some.
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So LTCUSD gave us a profitable trade, that’s it. Unlike BTC or ETH it was just mediocre. It’s giving us about 5% profit, and the risk was about 3%, a risk/gain relationship of 1,66:1 (our trade on BTC and ETH was 4:1 and 3:1 respectively).
I’m taking profits from half of my position and I’ll set the stop loss of the remaining half at my entry point (I’m not going to lose any money here now). Why I’m doing this? Two reasons:
1 – We had very good profits on BTC and ETH, so I’m psychologically and emotionally fine (check my analysis and FOLLOW me for more details and updates);
2 – There’s a good chance LTC is doing a pullback of a triangle (purple lines), and we know triangles had 66% chances of pullback.
So, in my opinion it’s worth keeping half of my position, especially if I’m taking no additional risk. Follow me for daily analysis.
Thank you.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
So LTCUSD gave us a profitable trade, that’s it. Unlike BTC or ETH it was just mediocre. It’s giving us about 5% profit, and the risk was about 3%, a risk/gain relationship of 1,66:1 (our trade on BTC and ETH was 4:1 and 3:1 respectively).
I’m taking profits from half of my position and I’ll set the stop loss of the remaining half at my entry point (I’m not going to lose any money here now). Why I’m doing this? Two reasons:
1 – We had very good profits on BTC and ETH, so I’m psychologically and emotionally fine (check my analysis and FOLLOW me for more details and updates);
2 – There’s a good chance LTC is doing a pullback of a triangle (purple lines), and we know triangles had 66% chances of pullback.
So, in my opinion it’s worth keeping half of my position, especially if I’m taking no additional risk. Follow me for daily analysis.
Thank you.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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