Trading Journey #4.... Quick Fingers Luc metod (QFT) ....I traded MWAT\eth...Good result
I got signal from the QFT scanner yesterday to enter LONG below where 2 bells are showing in the below image.
I entered LONG after I saw Etherium (ETH) was going down with BTC and saw that in the past MWAT moved opposite direction of ETH.
So, I entered and made profit but I sold too soon at 12%. The price moved up back to the yellow line (BASE line) where originally MWAT dropped drastically from when the signal was given to me.
Price moved up 25% ( see red X).
First time trading this pair....I will watch this pair to trade again if ETH moves up in price again and after MWAT moves quickly or drastically (Panic Sell) down below another BASE.
This above chart I added indicators, Fisher Tranform and LSMA to see the movement of pricing, reversal of trend better.
What I learned:
QFT method is effective to use when there is a PANIC sell.
Best to trade opposited movement of ETH when trading against ETH with MWAT.
As price of ETH going down, I sold ETH and bought MWAT which was moving up to sort of hedge against the Bearsh movement of ETH and BTC.
I need to put stop loss or break even stop loss after I have 5% proft incase price move against me. If price continue going up, I will bring up the stop loss.