my BTC bull trade in progres
I wanted to reflect a bit on a trade I made based on my initial strategy I explained here: https://steemit.com/crypto/@phonebox/trade-idea-for-today-btc-daytrade-opportunity
So actually it seems to be working (checking BTC/USD 15 minute chart on coinbase):
You can see my entry with a market order right on the 12710 USD mark.
What I am considering now is the placement of stop-losses - remember it is always a very good idea to have a stop-loss!
I have a stop-loss at 12710 because it was proven to also be a support line since then - this is also a common thing to have earlier resistance act as support later, always watch out for that!
Stop loss is very tricky on the crypto currency market. There can be a flash crash, you sell low, hours later you look at your monitor and the prices are higher than ever.
yes I totally agree with you, I remember the ethereum flash crash so it is definitely a tricky subject :)