RE: RE: Hello Monday! Start the Week Right!
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RE: Hello Monday! Start the Week Right!

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I trade using Binance with a 20x Leverage. Stop Losses are always there as I put it around 1-2% beyond the expected resistance/support, depending on the direction of my bias. If my SL gets hit, it means that a change of character is expected and it usually results in bigger losses if my SL wasn't there. Once it goes considerably in the direction that I expect it to, I set my SL to become a trail stop, so no matter how the trade goes, I earn money.

As for Take Profits, I normally just take half when I see signs of weakness. I tend to fully monitor trades when I enter because at the leverage I'm using, I need to be sure it's going in the direction I expect or else I should cut it and keep my losses small.

I've been trading futures for around 70 days now and with how volatile crypto is, I feel like I learned a crap load! haha

Leaving trades open work best when you know the direction it's headed to. I also tend to close trades early because I'm happy with the gains, regardless of future price movement.

@pogier: I trade using | Ecency