Still absorbing the amount of information in all of these videos and getting the strategy down. Quick Question:
When the coin is in say a downward swing and the base is set, you have your safe zone and you execute the trade. The trick here I see is to watch the bounce very closely right after your trade has been executed. Many times I see a pattern of solid identical bases trending downward, you set your buy when there is an indication of volume coming in as well on the buy back and you move with it. Makes sense. But, lets say the base has a tiny bounce up and then reverses on you? Meaning you had to be watching that bounce for at least a few minutes to make sure it does not and continues up.
With that you really need to watch after every buy, for at least the first couple of minutes to make sure it does not go the wrong way while you wait. If you walk away and hope based on prior movement from the past hour or more you could set yourself up for a reverse movement that goes against you.
I suppose you could set (2) alerts after every trade. One for any movement below your price trade, one for how high its going. To me that would make sense on safely monitoring the directions.
Does that make sense? I am still new but hopefully starting to grab the idea here. Thanks guys!
if you are buying in the safe circle you are expecting a bounce atleast to the prior base and maybe even past it.. but yeah, I always take a gift (if a few minutes after my entry there is a quick bounce and Im in solid profit, I will take profit) Those quick bounces are gifts..
However I prefer it when after my first buy there is still more panic and I get to buy again, more, lower.. Because I like to have big positions when its possible.
Thanks, makes sense. There are some trades like BCC that after the big bounce and the downward trend the coin just kept going down past the last bounce and kept going. That coin got bad news that day and it was logical that it would keep going down. Now its getting back up.
What do you mean in the first video about First pullback safest place to buy