The time for review has come~
I bought in but~ I saw it wasn’t moving and pressed it off~ then the plan wasn’t thorough enough
and I missed the entire market~~
(I saw a great saying online~ you can't earn money beyond your understanding! )
Chart 1~ First phase~ Review
I bought in for 100U~ Stop loss set at 5~10%~ No need to fear losses~ just endure
Every 4% rise~ double the position to 1600U
Then add 800U for every 10% rise
(Profit should be around 15%~ to prevent being liquidated during a pullback)
At this point, the stop loss~ is set at 0% profit~
(To catch waves~ it takes time to grind~ and there must be room for pullback)
First phase selling reasons~
1. The price has exceeded the 1-hour MA and 3-hour MA (average price) by a lot
(Value regression theory.. it will eventually revert to the mean)
2. A long bearish candle appears at the highest price~ with huge trading volume~ no upward momentum left
After the closing candle~ it continues to drop~ decisively liquidate.
Chart 1~ Second phase~ Entry
1. Price returns to the 3-hour MA, buy half of the previous holding (1600U)
2. Price at the 6-hour MA, buy half of the previous holding (1600U)~ it can’t go down~ thus chase the price to buy
(Current profit is 1098U)~~ so there is capital to pull back now
From now on for every 10% rise~ just add a total of 1/4 position
Details are for you to ponder
Second phase selling reasons~
Same as the first phase reasons
Long moving average is the best support~ as long as it continues to break~ it indicates weakness~ time to exit