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Risk Management From Stage 2 to Stage 3 of The Trade
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Members Video
Risk Management From Stage 2 to Stage 3 of The Trade
Tuesday February 21/23.
In today’s 18 minute member video we cover more than twenty current examples of how to use support and resistance levels for Crypto Trading Risk Management.
Our job is to manage risk as we transition our new positions from Stage 2 to Stage 3 of the Trade.
Today we check stop levels in the new positions and talk through the risk management reasoning for moving up some stops for profitable positions (Stage 3) and why we are leaving some of the profitable trades with stops below our entry (Stage 2).
Successful trading requires effective risk management and emotional control. Emotional control comes from clearly understanding your job and choices you must make at each stage of the trade. The more practice you get at viewing the whole picture, the more objective and un-emotional you can be as the markets move along.
In today’s member video, we talk about how to identify and manage risk through the early part of the five stages of the trade so we can calmly follow our plan during these volatile markets.
I share my thoughts on the best practices and tips for entering new trades and managing stop loss levels to minimize risk and leave room for the explosive opportunities in crypto. Discover the key factors to consider and gain the confidence to execute trades without second-guessing. And I invite you to bring your comments and questions to our Discord Group!
Learn how to make your money work for you while YOU do other things!
Leave your money to do the dreary job of watching crypto price charts.