How to navigate your way through a swing trade, increasing & decreasing risk along the way for maximum profits.
I'm going to try and explain my thought patterns throughout this #XLM swing trade in the last month, that we updated constantly in the course group.
This will be of speculation to you guys, so I have screenshots & dates to clarify the results. But I do not intend to FLEX my profits here, what I do intend to do is show my thought pattern along this trade in hopes that someone can learn something from this.
If you want to see this as a YouTube video, comment letting me know.
First of all, I noticed #stellarlumens making a nice bullish wave 1 characteristic so I entered, I planned out where the waves SHOULD go, which they did perfectly & along the way I added more risk as my wave guidelines where being followed. I ended up adding to this position 4 times with 4% of risk on & the end result was 30% in 30 days.
Though, I let greed get the best of me & tried to extend targets as my targets where hit. It was completely logical AT THE TIME that the wave was going to extend. To me, I feel the pain more of not being in a position I predicted correctly than just losing. Losses don't hurt me, but I get annoyed when I predict something right & I'm not in the trade.
Though after a few days I realised this was not extending & I knew we were going to be in for a B wave, which should get close to previous 4h close highs.
Patiently waiting as I watched the position which was a home run, go against me did hurt. Though, with a proper plan in play, navigating my way through swing trades is much easier when YOU HAVE A PLAN FOR MORE THAN 1 SCENARIO. & that is the soul reason why I love the wave theory.
2200 characters is hard to explain all my thoughts throughout, if you want to see this as a YouTube video, just comment letting me know 😊