What's up guys, YoungShkreli here
Some people might get the impression that I only trade if the candle flips color, but my strategy is not that simple. It's slightly more sophisticated; it heavily considers risk management as well. Thus, a unique opportunity has come that allows me to buy bitcoin even though traditionally I would wait for confirmation or have a stop-buy order.
So here's the deal. I have a massive short position. I have been accumulating shorts since $8200 and don't want to close my position, that said, I am suspecting bitcoin to bounce so what I have done is go long with some of the equity I've gained from my short position to reduce my short side risk. I've also gone long because I am expecting bitcoin to bounce for the next 4 days and want to catch that upside. I would close my shorts entirely if we had gotten a candle flip, but we will have to wait for that.
Essentially what I have done is gotten into this trade early because I can appropriately manage the risk. My stop loss for this trade is going to be: $6150.
I will leave the ball in your court, people. You can join me on this trade and put your stop loss at $6150 or you can wait for confirmation. I would recommend waiting for confirmation, but I have gone in early because I have a lot of extra equity from my short position and this trade can't possibly lose me money as a result. Also, I always go in SMALL relative to my account on the first day. I'm usually willing to risk 1-3% on a given trade. As I am proven correct and lock in profit, I then add to my position. I always add on the way down or up and always adjust my stop-loss to lock in more profit and reduce risk.
SUMMARY:
In the spirit of being open, I have disclosed to you all that I have reduced my net short position by using some of my new equity to go long. I do not know if we will close tomorrow green to validate this trade, I've gone in because I can handle the risk, have a clear stop-loss and am seeing a bounce happening very soon and it could be happening now. I DO NOT know if I will make money on this trade. I only know this is the best option for me given my circumstance. Tomorrow, if we close green, I will close my entire short position and I will add to my long position. Because I would have gotten in early, it's likely I will already be able to lock in a profit as well (hopefully). If you are short, I would recommend doing what I have done or closing some of your position if you don't want to buy bitcoin as a hedge. In addition, we are beginning to appear bullish as per the MACD's derivative approaching zero. We are also quite likely to close green tomorrow. Lastly, we are in oversold conditions. All are reasons I am expecting a bullish moment in Bitcoin.
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
Some people might get the impression that I only trade if the candle flips color, but my strategy is not that simple. It's slightly more sophisticated; it heavily considers risk management as well. Thus, a unique opportunity has come that allows me to buy bitcoin even though traditionally I would wait for confirmation or have a stop-buy order.
So here's the deal. I have a massive short position. I have been accumulating shorts since $8200 and don't want to close my position, that said, I am suspecting bitcoin to bounce so what I have done is go long with some of the equity I've gained from my short position to reduce my short side risk. I've also gone long because I am expecting bitcoin to bounce for the next 4 days and want to catch that upside. I would close my shorts entirely if we had gotten a candle flip, but we will have to wait for that.
Essentially what I have done is gotten into this trade early because I can appropriately manage the risk. My stop loss for this trade is going to be: $6150.
I will leave the ball in your court, people. You can join me on this trade and put your stop loss at $6150 or you can wait for confirmation. I would recommend waiting for confirmation, but I have gone in early because I have a lot of extra equity from my short position and this trade can't possibly lose me money as a result. Also, I always go in SMALL relative to my account on the first day. I'm usually willing to risk 1-3% on a given trade. As I am proven correct and lock in profit, I then add to my position. I always add on the way down or up and always adjust my stop-loss to lock in more profit and reduce risk.
SUMMARY:
In the spirit of being open, I have disclosed to you all that I have reduced my net short position by using some of my new equity to go long. I do not know if we will close tomorrow green to validate this trade, I've gone in because I can handle the risk, have a clear stop-loss and am seeing a bounce happening very soon and it could be happening now. I DO NOT know if I will make money on this trade. I only know this is the best option for me given my circumstance. Tomorrow, if we close green, I will close my entire short position and I will add to my long position. Because I would have gotten in early, it's likely I will already be able to lock in a profit as well (hopefully). If you are short, I would recommend doing what I have done or closing some of your position if you don't want to buy bitcoin as a hedge. In addition, we are beginning to appear bullish as per the MACD's derivative approaching zero. We are also quite likely to close green tomorrow. Lastly, we are in oversold conditions. All are reasons I am expecting a bullish moment in Bitcoin.
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
Nota
Notice also that we reached the previous high, were rejected, yet didn't fold over. This leads me to believe the break out of the wedge will be bullish. -YoungShkreli
Dagangan ditutup: hentian tercapai
Whoops. It happens, guys. You'll notice I pointed out that if I wasn't already short, I would have waited. I guess the bounce will have to wait. Then again, it could always just do it tomorrow. What has changed is that we will need to go to lower levels if I am to buy WITHOUT confirmation. Otherwise, we will all have to just wait for the candle to close. I didn't really want to share this trade with you guys because it was early, but I thought honesty was the best policy and so I disclosed my position to you guys.
I've said this before, but a good trader can be wrong A MAJORITY of them time and still make money. It's all about limiting risk and maximizing upside.
I know I'll get slaughtered for not predicting the future anyways hahaha :)
-YoungShkreli
Dagangan ditutup: hentian tercapai
The last thing I want you guys to take note of is the scope of my actual trade. I opened a SMALL long position to try and be early and reduce my short side risk. It was the right move even if it didn't make money. All the loss I absorbed from my long, I gained from my short. There was never a point where I lost money from my account, I actually would have lost the most equity if the price had risen because my short position was about 20x as large as my long. Let the trolls enter. I will embrace them lovingly :')
-YoungShkreli
Nota
If we close the candle green, I will re-enter the trade. It sucks a** that my stop was hit and bounced right back, but that's the name of the game. At least we get a cheaper entry than before. I was going to make a new post, but that'd be dumb. Basically, I made a trade, got stopped out, and am re-entering the trade. I will be closing my short position today as well if we close green. -YoungShkreli
Nota
Bought it again and closed my short position. It's all in my latest post. Thanks guys. -YoungShkreli
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.