MUST READ THIS 🙏🏻🙏🏻
There's some people who loss money even my signals hit some of targets, maybe they do not have proper risk management stragedies.
It's not important to hit all the targets when I post signal because crypto is volatile and anything can be happen within seconds so just book profits instead of waiting for all targets to hit ( Greed kills ).
HOW TO BOOK PROFITS SAFELY!
When I am busy or don't have much time to handle my trade I follow this risk management stragedy which don't give me large profit but safe me from losing.
PROFIT BOOKING RULE:
When I enter in a trade I put stop loss which is given in the signal then I put an Sell order of 25% of my trade size on 1st Tp and 25% on 2nd TP similarly 25% on 3rd Tp so according to this if the trade hits 3 Tps, 75% profit Will be booked and my trade will still run on 25% which I can easily hold for maximum targets and move stop loss to the entry or little above.
Example:
I have signal
Entry ( 0.850)
Targets 0.860, 0.870, 0.880, 0.890, 0.900, 0.910...
Stop loss (0.830 )
I entered at 0.850 and exactly after entering I will put stop loss at 0.830 in my position.
BOOK TPS:
Assume I have used 100$ size in the trade and my 1st Tp is 0.860
I will put an sell order of 25% at 0.860 when 1st Tp will hit my overall profit will be 1.17$ and my order of 25% sell will triggered means 25% of 1.17$ Will be 0.29$ on first Tp 0.29$ will be booked and my position size also will be decreased to 75$
Similarly I will put other 25% sell orders on remaining two targets e.g 0.870 and 0.880.
Once second TP hit my overall profit will be 1.76$ on the size of 75$ and my 25% of 1.76 will be 0.44$ which will be booked after hitting 2nd and position size will be decreased to 56$
Once 3 Tps hit my overall profit will be 1.97$ so 25% of 1.97$ will be 0.49$ and this will be booked after hitting 3rd Tp.
Booked Profit: 1.22$
Running Profit: 1.44$
If I close position at 3rd Tp then my total profit will be 2.6$ but I can hold it for maximum targets but after 3rd Tp , mov SL to Entry or 1st Tp
