What is Break Even? Since I learned this, I average fewer losses!
It's simply moving your Stop Loss to the same level as your Entry Price. At this point, your risk is zero. If the market turns, you exit without losses; if it continues in your favor, it's all profit.
The benefits of this technique:
Goodbye to stress: You can close the laptop and go to sleep or do other activities without the constant fear of "what will happen to my capital".
Capital Protection: The number one rule of a pro trader is to protect the money. The BE is the ultimate shield against unexpected volatility.
Real patience: When you have nothing to lose, it's much easier to let the price reach your Take Profit targets without closing them early out of fear.
When to apply it?
It's not about moving it as soon as you see a little green. You should wait for the price to break a structure or reach a level where the RSI has already exited the danger zone, as it happened today when it rose to 38.39.
Sniper Reflection: A trader who doesn't know how to protect their gains is just someone passing through the market. Learn to secure your entry and let the market do the rest of the work.
#CryptoStrategist #ScalpingTrading
It's simply moving your Stop Loss to the same level as your Entry Price. At this point, your risk is zero. If the market turns, you exit without losses; if it continues in your favor, it's all profit.
The benefits of this technique:
Goodbye to stress: You can close the laptop and go to sleep or do other activities without the constant fear of "what will happen to my capital".
Capital Protection: The number one rule of a pro trader is to protect the money. The BE is the ultimate shield against unexpected volatility.
Real patience: When you have nothing to lose, it's much easier to let the price reach your Take Profit targets without closing them early out of fear.
When to apply it?
It's not about moving it as soon as you see a little green. You should wait for the price to break a structure or reach a level where the RSI has already exited the danger zone, as it happened today when it rose to 38.39.
Sniper Reflection: A trader who doesn't know how to protect their gains is just someone passing through the market. Learn to secure your entry and let the market do the rest of the work.
#CryptoStrategist #ScalpingTrading