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RE: Bitcoin Cash Laddered Spread Profit Taking
Nice one dude! I set my sells way too low. I really didn't get the sense it was going to go so high and everything got filled while I was sleeping. Otherwise I would of pulled some of them.
What is your sell strategy? Only during waking hours or pre-set sells after confirming the up trend? eg. like you have done now?
I guess what I'm trying to learn is how to maximise profit....and some of these big upswings. I bought in with you...but my sells were far too low.
Take a look at the elliot wave count. I was counting last night and saw only waves 1,2,3 were done and knew that wave 4 would grind its completion overnight. It did. And if I"m correct, wave 5 up remains.
Profit taking is most valuable when laddered during a wave 5. This is key for me. This means you need to identify the prior waves 1,2,3,4 correctly. I"m at times wrong and get fooled by the market but I'm thinking my wave 5 up call is good on this one. Let's see what happens.
So you usually wait for "confirmation" of wave 4's completion before placing sells? That way you can identify the best places to set sells in wave 5?
Basically, yes. Also using stops.
If i see that it's not being impulsive into five waves, then look at bigger scale waves to see if hold and ride out or if it's an abc and see if i'm on b wave up and trigger sells. Many ways.
This is incredible!
I'm hooked!
This is pure genius!
Well done!