Hello, dear traders, I continue now the video for the Bitcoin, because the trade was executed today. 1
As you can see, currently, $27.52 of profit. 2
So what I need to do now? 3
I need to place a Sell Stop at 1.4, so I will protect my trade this way. 4
I will go to Trading and I will choose New order. 5
First, I will change the lot sides to 1.4. 6
And after that, I will select pending order as a Sell Stop. 7
So the price needs to be $70 lower, which is exactly at 4130. 8
And my Take Profit will be $210 lower, which is 9
3920. 10
Also, the Stop Loss for this short trade will be the Take Profit of my first trade. 11
So this is 4410. 12
This means that if the short trade is executed and then the price will go higher, I will be placing 13
one more Buy Stop. The same price of 4200. 14
And when this target is hit, I will take the Take Profit from the first and the third trade. 15
But I need to close as well this short trade. 16
So the Stop Loss is the same as the Take Profit from the first one. 17
And I am placing now the trade. You can see now, 18
this is my middle section where actually it's my protected zone where I will be selling and buying further 19
on 20
if the price reverses and continues lower. 21
So what I need to do as well is to place now a Stop Loss for my first trade, which will be, again, 22
the target of my short trade. 23
So this is 3920. 24
I will modify the trade. So one more time, if the price goes now the opposite way and executes this 25
short trade 26
and if my target at 3920 is executed, I need to close this trade 27
as well, 28
the first trade that it's already on to be on 0, to be break-even, as I have already showed you in 29
the formula. 30
So I am modifying the trade and these Stop Loss and Take Profits should be exactly on the same level. 31
So you should not see different lines over here. 32
OK, guys, thank you for watching. 33
I will continue when my target is hit or when this Sell Stop is 34
executed, because at this moment I will need to place another Buy Stop for 1 lot at 35
4200.