Its actually $500 in profit right now. I have an order to close out 50% of my position at $9000 and the rest at $7500.
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Its actually $500 in profit right now. I have an order to close out 50% of my position at $9000 and the rest at $7500.
It is great that you have the experience, expertise and capital to do these trades and make it worth your time. The details that you have provided will help readers understand - what makes sense for @cryptobroye might not for most others.
Rule #7 in my 7 rules, will be explained and it will talk about the 10,000 hour rule as well as life-long learning.
All the best!
Experience is definitely key in shorter term trades. For the most part, doing all of things needed to make a successful day/short term swing trade can be tough especially when you have to battle with emotion too.
As always knowledge is the best weapon to use against fear. If you know how to manage your trade and your risk and you do as you have said, Set and forget, you will be fine. Day/swing trades should be analysed, entry and exits defined, set and left to play out. If you don't just leave it to play out, you just find yourself REANALYSING and you will convince yourself out of a good trade.
So yeh I would say - to anyone that follows my shorter term calls to either follow them EXACTLY with set orders for stop loss and target and leave it to play out, or simply don't trade them at all :) I want to help people to make money not the other way around!