RE: Crypto Academy Week 13- Homework post for Professor @yohan2on
Hi @hadassah26
Thanks for participating in the Steemit Crypto Academy
Feedback
| Explanation of the finger-trap scalping strategy | Screenshots/evidence | Presentation of the content | Trade management |
|---|---|---|---|
| 2/3 | 3/3 | 2/2 | 1/2 |
This is very good work. Well done with your research and the practical demonstration of the scalp trading style using the finger trap strategy.
Suggestions
For the finger trap strategy, you only need 2 moving averages that are; 8 and 34 exponential moving averages. You get your trend in the 1-hour chart and then look for trade entries in the 5-minute chart. While in the 5-minute chart you have to always wait for the price reloads so that you can have a good point to place your stop loss.
You missed out on some other great important elements of the Finger trap strategy. Things like setting the stop loss and trailing the stop to +1pip when your trade makes for you at least 10 pips.
Homework task
8