#YGG In this transaction, I completed the position building, took profit at the first resistance, added to my position at the EMA pullback, and finally took profit again at the trend's bullish-bearish boundary.
The reason for taking profit here is not because I am bearish, but because it is a key price that determines whether the market will continue to strengthen.
If it can break through, the upper space will be completely opened up, and there could be a 50%, 100%, or even several times increase later. But I don't plan to guess (predict) whether it can break through; I just want to lock in the profits I can confirm first.
To put it more simply, if it is really strong, there will be plenty of opportunities to get back in later; if it doesn't work out, I'll just earn a little less and wait for the next opportunity.
Recently, the logic for building positions in "gambling" on altcoins can be divided into two categories:
1. A lower low in the daily structure + regular oversold signals.
2. "Breakout warning" signals on the daily or weekly level.
Taking the chart of #YGG as an example, the position-building logic falls under category 1.
After discussing position building, let's talk about taking profits.
When the price moves away from the cost line and reaches a key resistance level (only on larger time frames), I will execute a small profit-taking + a fixed operation of trailing stop-loss, and then it's just a matter of taking it step by step.
In the future, I want to emphasize again, mechanically handle the current trades, focus only on odds and probabilities, and don't get obsessed with grand concepts; you will find that you can already make a decent amount of money.
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