Bitcoin Trade (BTC/USD) Buy Chart : 30-Aug-2017
Yesterday our buy order was picked at 4474 (1X) and bitcoin zoomed passed (all time high) 4492 ! It is surely in a hurry to break all barriers... :-)
Today’s chart:
So for our (1X) trade with buy at 4474 the stop loss order (where we exit 1X) is at 4165, a risk of $309... we will be trailing this as and when market tells us the points. This is the initial stop loss for 1X. Remember we are trading 3X total (whatever your X is ). We are already in profit of $3816 from the last set of trades :-)
Previous Day : https://steemit.com/trading/@aarcee/bitcoin-trade-btc-usd-trade-chart-29-aug-2017
Next Day : https://steemit.com/trading/@aarcee/bitcoin-trade-btc-usd-chart-31-aug-2017
TRADE DIARY
| Date (Buy) | Buy Price | Sell Price | Date (Sell) | Profit/Loss |
| 20-Jul-2017 | 2410 | 3822 | 22-Aug-2017 | 1412 |
| 20-Jul-2017 | 2410 | 3822 | 22-Aug-2017 | 1412 |
| 31-Jul-2017 | 2830 | 3822 | 22-Aug-2017 | 992 |
| 29-Aug-2017 | 4474 | Trade On | ||
| Net | 3816 |
DISCLAIMER: The above references are my personal opinion for information and educational purposes only. It is not intended to be investment or trading advice. Seek a duly licensed professional for investment or trading advice.
Thanks for the update in the BTC chart @aarcee please do the same if you make any change in position.
How did you calculate your stop loss placement and how do you add the fractal entry and stop loss lines? are they manually drawn or is their another format option i missed?
Also you wrote before that you know your exit point before entering..how is that calculated? Is it based on fractal future data or just desired profit target?
The stop loss point (in this case) is the last low fractal (with slippage/spread)... I have marked them manually on the chart to show it visually... all these are purely done on the basis of fractal geometry...
Thanks for the prompt reply. Will keep a daily eye on this to see how it evolves.