EOS USD - July 19-20, 2017 - Trade Analysis

This was my last trade taken; granted sometimes I lose sometimes I win. But most importantly, when I lose, I lose little. When I win, I win bigger. This one trade on EOS USD was taken yesterday, just wanted to share how I placed my trade:

The break of the downtrend line (shown in red) is a very safe signal to enter. Specially in multi-day trends, like we saw with ETHUSD couple of days ago. So when I spotted it on the EOSUSD chart, I was looking for an entry once the red candle showed the retracement and potential continuation.

Knowing this, I zoomed into the 30 minute chart and noticed consolidation; this where I decided to go long. The chart shows where the R:R ratio with Stop Losses. I actually placed two stop losses; the thinking is that if the trade went against, I would break even. The disadvantage of an aggressive Stop Loss Trading Strategy, sometimes you can get frustrated when the trade doesn't pan out because there is not a lot of room for the trade to work out. But if timed right, the losses are very minimal and wins can amount quickly.

Hopefully this provides info to new traders. Feel free to drop me comments or questions, I would be happy to help.

Until my next post -cheers.