Savory Short Scalp Into Liquidity, Then Strap In
yes this is a coinbase chart but a bitmex setup.
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I'm not convinced yet.
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previous weekly and daily close still intact. still in this trade. if they break i'm going deep beak.
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i'm gutting this trade at break even. BTC FTW!! unless i'm being tricked. then i'll just reopen. it.
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i'm back in a bit. i should trust myself by now. the thing is that bitmex is a treacherous place to trade. furthermore, i don't like to use stops. i don't swing big positions around mex. i use cross leverage on very small accounts that i like to build up over and over. liquidation is my stop, and this is fine based on the size.
why don't i like to use stops at mex? because if i put them where they won't be run, the amount of drawdown i'll likely encounter will qualify as unacceptable risk. of course it's easy to say "why don't I make more accurate entries?" , and that's the valid question, but to put the question in perspective, let me ask human beings a question: why don't you just make better choices in life? catch my meaning?
my goal is to trade accurately enough within my understanding, size and strategies that I don't need to use stop losses.
so, let's sum this with a tangental yet appropriate movie quote:
"roads? where were going we don't need roads"
why don't i like to use stops at mex? because if i put them where they won't be run, the amount of drawdown i'll likely encounter will qualify as unacceptable risk. of course it's easy to say "why don't I make more accurate entries?" , and that's the valid question, but to put the question in perspective, let me ask human beings a question: why don't you just make better choices in life? catch my meaning?
my goal is to trade accurately enough within my understanding, size and strategies that I don't need to use stop losses.
so, let's sum this with a tangental yet appropriate movie quote:
"roads? where were going we don't need roads"
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and as if on cue, my reopened short is in the money
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took it. trade over.
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furthermore, long now.
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glorious. stopped out of long - liquidated position - after going to bed. wake up to see the trade had unfolded perfectly.
this is the living record of the days that i become a profitable trader.
this is the living record of the days that i become a profitable trader.
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could have put this play on rewind for the next few months