[FREE UPGRADE] Main Disc. Thread - The NEW R.I.C.H. Trader (Formerly R.I.C.H. Crypto -- Core Available for Customs)

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@GoldenTiger

How do trailing stops fit in your system?

It fits, but it’s a bit hard for me. Espacially in this case where my entry is on the daily timeframe and I can’t really put a trailing SL because normal fluctuation between two daily zones would take me out even before price has the chance to complete it’s move.

Red line here is my entry and the bottom of the red rectangle is my TP level (35% profit).

Edit : Looking at the daily chart now and I really have nothing saying to my that my TP is off so it’s calming me to look at the bigger picture.

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Making process. Explained my charity idea a friend and it turns out he volunteers with non profits over the weekends. He’s gonna connect me with head of a local fund bank on Sunday and get me on their team. Networking and learning experience all in one.

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How i see it it should either reverse or have a reaction at exactly where it did. Around 212 there. Ofcourse it can still move higher now but losing most of ur gains for 5 extra i would just close at first reaction point

Might set my target at 212 then, honestly at this point part of my system is improving my targeting. If we get a retest of that part or even a liquidity run on that top I don’t want to be left out.

Not really an issue for me.

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@GoldenTiger Not sure if this is useful. The way i was taught was if you get a big candle like this, then enter only if it can successfully close above the 50% mark, the probability is higher for a reversal back up. If it can’t then it’s just gonna do another leg lower more than likely. The volume on the weekly is just still sitting below the average volume line too.

Also, on the stochastic on the weekly, it’s majorly pointing downwards, which suggest to me more so that it may have more downside.

I could be wrong though, just that if the bigger picture is bearish, then personally, i wouldn’t go long till both daily and weekly match. Hope this helps you in some way :slight_smile:

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Yes! :pray:

Here are my entries, got them before it came back up. I targeted the bottom of the daily, but you are right,

I’ll check what it does, might adjust my TP soon to 212.

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That’s cool, using limit orders to get that precise for entry or just eyeing it?

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1m/5m structure change from a 15m “orderblock”, or supply zone/demand zone inside a macro supply or demand zone.

Limit can work also. Sometime I’ve had perfect entry with price reaching my limit+spread just to tag me before reversing, but now I prefer having a reaction from the market to confirm a reversal before entering :wink: if you check my entry you’ll see they are 5-15 pip from the low usually.

Great entries are fun to show off online, but I still need to tighten my system around it to extract profits each months.

In the few next week I’ll rework my system from scratch, focusing on describing which zones are great and which are not, and still the fractal market movement.