altcoins are showing a nice bounce today, up 5%, 10% or more. It is tempting to get involved, FOMO kicks in, it’s our nature to be optimistic (or greedy) and think this is the bottom.
But the overall market trend says otherwise. Be cautious, don’t get suckered into a crypto Bear trap. It’s OK to miss the bottom. Traders should not assume an upcoming change but rather go with an established trend. Trends have a tendency to continue. Don’t trade against it.
But if you are just itching to buy something and can’t just sit idle, then watch this video to find those rare coins that are in an Uptrend and have an inflection in momentum. That way you’d still be trading WITH THE TREND (rule #1 in trading).
Even free registered users are able to create this simple filter to find such coins.
If you are patient, bless you. Watch this video on how to time your (Short) Sell entry for when this upswing fizzles out and the primary trend (down) resumes.
Also encourage you to watch last week’s video on short selling on Binance exchange.
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Risk management – Stop Loss and trade size. In all of these setups, traders should use Stop Loss orders to manage their downside risk, in case the trade goes against us, as it often will. is about probabilities and even though these setups have a high win rate, one must be prepared to minimize losses on the trades that go bust. If Stop Loss order types are not supported by they exchange, at least set up a price alert (see video). Also, trade size should be such that you never risk losing more than 2% of your total equity. Keeping the trade size small allows the trader to setup a wider Stop Loss, which gives the trade more room and time to complete with success. Setting Stop Loss levels too tight can often result in getting knocked out of a trade prematurely.
Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.