Feedback in:
Hello Michael,
I trade cryptocurrencies. My biggest challenge has been that the market is 24/7 and wildly volatile and manipulated. Placing stop loss orders while I sleep has been a difficult balance. I am using leverage and trying to place stops close enough to not lose a significant amount of capital but at the same time trying to avoid these 10% spikes on a 1 hour candle has been a headache. After several frustrated attempts, I had to remember Buffett’s first two rules: don’t lose money. So, I am setting the stops close and missing out on profit sometimes but avoiding the 50% drawdowns.
Regards, Michael F.
1 hour candle is all I need to know.
This ends one way.
BOOM.
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