We are currently in a Long trade on Litecoin, with our stop placed at $47.92 (see related trade).
To share with you more of my specific professional trading view, I am showing you specific Fibonacci Price Support and Resistance Levels.
By revealing to you these, you have the opportunity to either add to your position or create a new position, either as an Investor or Speculator (or both) with a degree of confidence and a Trading Plan.
As a professional trader and Investor, this is the kind of LOW RISK HIGH REWARD setups I look for in order to consistently grow my Capital.
Trust this helps your trading & investment decisions.
Sean Vengan 10+ Years Professional Trader and Trading Educator
REALITIES IN TRADING: In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading. We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE. Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades). Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY. Always factor in "WHAT IF I LOSE MONEY ????"
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY 1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE 2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine. 3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service. 4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit. 5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis. 6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to. 7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted. 8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply. 9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned. 10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience. 11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive. 12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
that a couple of inexperienced newbies mockingly commented:
"That's not a Cup and Handle pattern! This guy doesn't know what he's talking about, don't follow him"
That only shows their lack of trading education, knowledge, and inexperience.
As prices move higher this will morph into a new pattern
By educating yourself in recognising these Patterns in advance, as I have demonstrated to you, you can PROFIT from setups with LOW RISK and HIGH REWARDS.
I can only see, that 6 of your last 7 terminated trades were right on or better.
And the 3 current trades I did, yes they went deep in the pink zone, but they didn't hit the SL and are in a recovery right now.
But that only teaches us that we have to be patient and have to calculate what we are prepared to loose before entering a possible winning trade or even better if we are patient we can even obtain a better entry position.
So with the last 3 going to the green zone your trading rate of the last 3 weeks was 9/10.
I got my engineering degree with a lower grade.
Appreciate you keeping such meticulous records (as you say your engineering education).
With such discipline and you well are on the path of being a very successful trader, my friend.
stefaan
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@SEAN_VENGAN,
It's only thanks to your constantly reminders to us to focus on preservation of our capital and not to be fixated on the possible gains, that I changed my point of view.
I now trade smaller so I don't have to worry anymore, and yes it is still painful to see that a trade is in the pink zone, and I often think why did I not wait longer to get in a trade, but I learned to have patience and I understand that market price is partially made by big traders and they use similar settings to get in or get out. So as long as we trade between those boundaries, the chances of making more losing trades then winning trades are small.
But I still make stupid mistakes in managing the trade that costs money and I still have to learn a lot. So I'm waiting for the moment your class starts.
UnknownUnicorn1063189
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@stefaan, That's really good that you embrace this point, this is f=critical to success.
You're really coming along great. Believe me, trading to be consistently successful is not an overnight thing it is a journey.
@SEAN_VENGAN, any update on Btc? Please update your btc chart aswell.
thanks as always learn a lot from you.
UnknownUnicorn1063189
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@dsmith091100, Please see previous reply to another trader above...
ThomasBlikshavn
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Thank you for sharing your knowledge, mr Vengan, I have learned tremendously from following you. I would be grateful if you could PM me the details concerning your Telegram group.
I can only see, that 6 of your last 7 terminated trades were right on or better.
And the 3 current trades I did, yes they went deep in the pink zone, but they didn't hit the SL and are in a recovery right now.
But that only teaches us that we have to be patient and have to calculate what we are prepared to loose before entering a possible winning trade or even better if we are patient we can even obtain a better entry position.
So with the last 3 going to the green zone your trading rate of the last 3 weeks was 9/10.
I got my engineering degree with a lower grade.