You are viewing a single comment's thread from:
RE: BITCOIN (BTC) Elliott Waves Seem So Complete! What does this mean? Here is the chart...!
So what do you do overnight? Wait and sell in the morning (if you are going to sell) or do you have sells set?
I cast my ladder overnight for buys or sells and often get a few rungs filled! The same for day. I cast it and walk away.
Consider risk reward. If it continues up, how much? Likely <<10%. Downside may be 50% or more. So either sell or set stops if you are not able to quickly respond to price movement.
But that still involves thinking of price movement. My biggest mistakes have been selling cryptos! I need to be happy it’s the right time. The only reason to sell is to buy back at cheaper prices!
If you made a profit, it was a good trade, even if you left some money on the table.
Also, I would suggest that another reason to sell is when the likelihood of higher prices is low.