Going Short

@yayogerardo
Rather than going back and forth on this, you should give me a specific position, even if just theoretical, which you would hold right now and explain why, and what would that look like in terms of leverage, stop orders, etc...???

Just don't give me a 'long term investment' idea because obviously that's a different game. And don't mention position size because that's obviously down to the individual's own appetite and circumstance.

@Nebuchadnezzar_II You wanted an actual trade. Here’s one I posted on October 17, before you asked:

https://read.cash/@yayogerardo/p/181z3831

I started on the weekly chart and worked down through the daily, four-hour, and hourly. The weekly was bearish, but the daily recovery was still holding a higher low. I was trading that recovery back toward resistance. I wasn’t expecting a whole weekly trend reversal.

I marked my support and resistance zones first. Price dipped below support, then recovered. I waited for the four-hour hammer to close before buying. Its long lower wick showed the rejection below support.

The hourly Stoch RSI was turning upward too. That supported the entry, but I wouldn’t have bought just because an indicator turned up. I was looking at the price structure and what happened at support.

It was a spot trade. I used the hammer’s low to judge whether the support rejection was still holding. If it failed, I needed to reconsider the trade.

I set a trailing sell to activate just below resistance, with a 2% trail. Until price reached the activation level, the order wouldn’t track anything. After activation, it would follow the highest price reached and trigger on a 2% pullback.

The first bounce didn’t reach activation. When price returned to retest support, I bought a second time while still holding the first entry. I watched closely and was ready to exit if support failed.

Price then rallied through resistance. The trailing sell followed the move and eventually triggered, closing the trade in profit.

So no, I didn’t buy because I saw a green candle. I bought after a four-hour hammer closed at marked support, following a dip below it and a recovery, while the daily higher low still held. I’d already checked the weekly downtrend and planned where I wanted to get out.

The post is dated. You can read what I wrote before the move happened. The second buy came later on the retest. There’s your example.

@Nebuchadnezzar_II If I gave you a hypothetical that probably would have too hypothetical. Now I'm wondering if that one is too old for you. How about one that is just right? 🥣 🛏️

What do you say? You want a live analysis too? Pick one or two coins and the trading pairs you want me to look at. I’ll analyse them and explain what setup I’d wait for, what would confirm an entry, and where it would fail. If there’s no trade worth taking, I’ll say so.

@yayogerardo
My first thoughts are that this is a very risky strategy.
In each case your sell orders are triggered by a drop in price.
I think this is just what HFT strategies work to exploit. One sudden wick and you're sold out right into maximum slippage.
Also... why Pepe?
I'd prefer to do this with bitcoin then at least know that if it dips you can just hodl and get your money back in the end.
I think its good you did Spot and not futures because you at least didn't get fucked by funding fees like me shorting memes at the time.

Anyway please put better more comprehensive graphs next time so we can get the bigger picture of the trade more clearly. But no that's no too old.

So if you still want to give live analysis then lets say xmr and btw (bitway).
Btw a tip you can use coinglass for aggregated funding fees if you want to use that in your analysis.