As you all know, I’ve longed Bitcoin at 255 last week. Market rallied to ~260 over the weekend and proceed to fall. Market tumbled to 240 overnight.
My original plan was to exit at breakeven, I usually put my soft stop at breakeven after some profit. However, the drop was fast and in the middle of the night; didn’t get a chance to get out. Market is looking a little bearish and I am planning my exit if it falls lower from here.
I use 1:1 and sometimes 1.5:1 leverage for my trades. I can stomach a few {01de1f41f0433b1b992b12aafb3b1fe281a5c9ee7cd5232385403e933e277ce6} drop. However, if I am wrong, I don’t want to accrue further losses. I firmly believe we are bearish if we fall below 240 for a longer period of time.
This is my current thought. For those who follow my trades, I all my entry and exits are announced. If I havn’t said anything, I am holding my position.
SOURCE: ibankbitcoins – Read entire story here.
