financing target reached on NXT at .4773
(charts are courtesy of tradingview.com )
took half of position off to mitigate risk
as always
feel free to ask any questions about this or prior posts
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Financing target?
Quad Exit -I use QUAD EXITS to honor the principal of "Choices" (hence emotional freedom while being in a trade)
quad exits for immediate risk reduction:
We are all in and our system has a high expectancy of immediate profits
so we exit half of the position for immediate financing of the trade so we get out with half for small profits which
mitigates risk to a BE (break even) situation without needing to raise the stop for the remainder of my position.
We take another 25% of position on our first target and now are emotionally free on the last 25 %
who either hit another target or run smoothly with a trail stop if it develops into a directional move
(this is the scenario of a trade working out,the other scenario is after financing we get stopped out = a BE situation since we took 50% off for a profit which mitigates the other 50% being stopped out for a loss and the third scenario is a full loss on 100% of the position)
example: prepping LONG entry NQ stop: 12 ticks 1st.target exit: 12 (18)ticks 50% of total position size out 2nd. target exit: 18 (26)ticks 50% of total position size out stop adjust: after price moved 14 ticks from entry set stop to BE and trail 1 tick for each tick advance from there)
you a bit of smart money management to this and you can take quite some risk out of reloading a core position like in this case where a core position was established on November 2nd -meaning you establish a larger position for a longer term wealth position over time and as such take consistent profits along the road...
did that answer your question?
I do similar to this with gambling and finance. It looks like a beautiful system. I will have to sift through this a few more times :D. More than enough, thank you very much :).
if there is any more questions just ask-this is mainly to mitigate risk and a psychological edge-allows for stops to either be tight or wide as they should be and not somewhere in the middle which especially for these volatile instruments is deadly-requires a bit of action/reaction principle of standard deviation to gain an instant small gain-like truly good entry timing but again these more volatile instruments provide this nicely so i think quad exits are fine tool for crypto trading
Thanks alot. Yes i think your right about quads.
more than welcome
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thank you very much
Very informative. Thanks for sharing.
welcome-thanks for taking the time to review
You are most wellcome....
@allthereisislove my dear friend, Thanks for sharing this post.
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thank you very much !