Our Screener has just alerted us of three additional Buy opportunities: BNB, GNO, IOTX.
That adds to a bullish signal in TRX that we wrote about yesterday.
These three coins just experienced a bullish MACD crossover that confirmed a recent bullish RSI crossover (above the centerline of 50), and a bullish trend in OBV. These are overlayed with an Uptrend indicator (upward sloping SMAs and EMAs).
In layman’s terms, these are coins in a long-term uptrend and a recent momentum upswing.
Go ahead and build your own Screener and Alert by following a 3 min video below.
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. Trading 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.