Trade Dash example-free lecture from the Cryptocurrency basic trading course


Dear traders, I continue now with the example that we have with the Dash from today. You can see that the price is just, it’s our Take Profit level, guys. I will zoom it in because I want you to see what exactly I’m talking about. The price reached this level and it’s even a little bit lower but you see that we have Bid price of 610.11 and we have Ask price of 618. OK? So, we said that when we sell it, we sell it on the Bid price but we will close on the Ask price. So, the Bid price reached our Take Profit, guys, of 610 but the position is not closed. And now, since we have this strong support below at 607 and the 600 level at all. If I just zoom out a little bit on the daily chart, you will see that this level here 1 time, 2 times, 3 times, 4 times was important to the market. And now, just for a couple of dollars or couple of cents I don’t want to risk my Take Profit. So, what I told you? I will admire everybody who in this moment just closes the trade and Takes the Profit All right? It is up to you, guys, if you want to do that. You can leave it to the Take Profit but specially when there is such a strong support below, I prefer to Take the Profit. You see that we took a fantastic move today and I’m very happy with that and I don’t want to risk this profit for a few cents here or for $1, $2, $3. All right? So, my advice to you, guys, is if you’re very, very close to your Take Profit, don’t be greedy just close the position, Take the Profit and get out. So, pretty much this is our trading system for manual trading. It is nothing hard. You need to identify the daily trend. Look for these important levels, guys, because in moment like that they could be crucially important for you, look for the trend because the trend persist and it is very good if you trade manually to follow the trends. And now, if the price goes lower and breaks this low, we will have another lower low on the daily chart. And this is actually with most of the cryptocurrencies today, they are very, very negative. I had a very similar set up here that I was trading into one of my real accounts. Just to show you on Bitcoin H1 chart, you can see here that I am having these few aggressive counter trend lines that were very close. So, the original one was coming up from here. Let me just show it to you. You will see that this is the original counter trend line coming from here. And if I just zoom it in, you will see that I had few more aggressive counter trend lines. Here is the failure of the recent low then the price just broke it. And I have Taken the Profit earlier this afternoon. Even the price continues lower, guys, I’m following Stop Losses and Take Profits. But in cases as this one, if I go back one more time to the Dash, where we have this important support level my advice to you, guys, is Take your Profit and get out. Of course, if the price continues lower don’t be upset or frustrated about that because you have made a profit and this is the most important. I hope this manual system is clear, guys, and if you have any questions at any moment you can always ask me. Thank you for watching. Cheers.

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