LitecoinLong
LTCUSD - Trade #2
Updated
Certainty is low
Risk-Reward-Ratio is high
1. Which means that we have to risk less, a really small position and add when the market start proving that we are right.
2. If the market doesn't cooperate and hits our stops then we don't have much to worry
because we are protected (having a small position) and tapping into our edge (taking the Positive Expected Value Position)
3. Which provides chance to add to the position so actually we risk just a little to make a lot. Who doesn't want that.
4. We are extremely tight and protect our capital and use small positions when uncertain, we can always add on to position when the certainty arises.
Risk-Reward-Ratio is high
1. Which means that we have to risk less, a really small position and add when the market start proving that we are right.
2. If the market doesn't cooperate and hits our stops then we don't have much to worry
because we are protected (having a small position) and tapping into our edge (taking the Positive Expected Value Position)
3. Which provides chance to add to the position so actually we risk just a little to make a lot. Who doesn't want that.
4. We are extremely tight and protect our capital and use small positions when uncertain, we can always add on to position when the certainty arises.
Note
As we planned, I closed 1/3 of my position and still holding 2/3 with a stop at 108.Trade active
I added to my position because I see more certainty now, And I'm planning to add if it falls to 114-112.
Good Luck, Trade Well
Note
Trade active
Right now the SL is at 121-120, because if it's ABC the market will go lower and if it's an impulse that level will be the invalidation of the pattern.But keep in mind that if the market goes higher then this level won't be an invalidation anymore. I'll keep you updated. Good Luck, Trade Well
Trade closed: stop reached
Bad news, the market didn't play out like we expected and right now the smartest decision is to respect the SL at 120. I love this trade anyway because We had a big upside potential with minimal to no risk. We can't control the beast, can we?
I'm already out, I have no idea what the market is doing right now(we need more price action) and I never take chances blindly. Good Luck, Trade Well
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