Update on $BTC short
I entered multiple times near the recent peak which was around 67000, used tight SL to find a short entry somewhere near the peak. SL hit 3 times and I got a short entry at 66700.
I added more and more on the way down, currently the average entry price is 66352. I used 15x leverage , which is usually something I never do, but this time it is viable as I know somewhere near 67k is the peak and I have tight SL to stop some staggering loss.
Anyways I now have SL set at 66135, and a trailing stop of 1% callback rate with activation price of 65300. Size is 50% of my position. I will keep adding more to my short and lower my SL as the dump progresses. Already, I am guaranteed more than 3% profit, including the losses from the 3 SL hit before.
I have no way to lose now and can only maximize my profits at this point. This is how you can stack the odds to your favor when everyone is dealt the same hand.
Depending on how you set your positions and orders, the same market will provide different odds to different traders.
Some less experienced ones will have significantly worse odds than me in the exact same market, even if they are shorting.
Oh and I will be planning to make a guide on these setups. How to lock in profits and min max, may or may not post within this year. I also have a shit ton of posts I said I would make but didn't due to a serious mental condition, commonly known as being lazy. Can't help it there is zero cure. Unless some $$ for motivation...
