Trading Pair: XRP/USD

Position: Long

Target Price: 0.38766

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The Title and the Timestamp 

The title is when I posted the trading signal. The format is Year-Month-Day Hour:Minutes, using 24-hour clock meaning there is no AM or PM, and the timezone. A timezone of +0200 means the time is expressed 2 hours ahead of GMT/UTC.

For example, let us take this timestamp and trading signal: 2020-07-04T14:03:24+0200 | Short BSV/USD @ 154.56. This means that on the 4th of July 2020, 2:03 PM, 2 hours ahead of GMT/UTC, a trading signal was generated to short-sell BSV/USD at $154.56.

I often have to post these signals quickly, so I try and put checks and balances where I can. One of these is the Check Date. It should match the Title. They may not be precisely the same but they should be within 10 minutes of each other. If not, go with the Check Date, as being more valid.

The Position

The position could either be Long, Short or Out:

To go Long means to buy something. You hope to gain when the price goes up. To go Short means to short-sell. Not just to sell to close a trade but to short-sell. You hope to gain when the price goes down. To go Out means to get out of a trade so you can be in a neutral position. You do not lose or gain if the price goes up or down.

The Target Price

The Target Price is the price at which the signal tells us to go in. The price is given using a dot (.) for decimals, not a comma (,) like in Europe. This means that 200.00 means two hundred NOT two hundred thousand.

If there is no price indicated, the reason is usually because of time pressure: You never know when a signal comes through, and it is not always convenient to put an order and ensure you get a good price. If there is no target price to enter or exit, just refer to the price when the signal was given. 

Keep in mind that since these signals are sometimes posted on a rush if the prices given are significantly far (greater than say 10%) from the current market price, then go with the market price from an exchange you normally use, at the time the signal was given. These errors will be corrected when detected. 

Trade / Position Size — How much to buy and sell?

Buy or sell only as much as what you have allocated to trade this pair. This means if I have $3000 and I allocate $1000 for trading BSV, and BSV is worth $200 each, then I will buy or short-sell 5 BSVs only. If a trader trades 10 pairs, and he has $10000, then he allocates $1000 to trade each pair. No leverage is ever used, especially not with cryptocurrencies, and especially not with these because from tests, it seems that the average is 30 days for winning trades and a week for losing trades. These are large swings to be leveraging, in my opinion.

Image or Images

Sometimes, I will post an image associated with the trade. It would usually be a snapshot of the chart. If I cannot post one when I generate a signal, I might come back to post an image later on. 

Note: The Trading pair, Position and Price cannot be changed once they are posted. If the price was not initially posted and was left blank because of time pressures, I may come back and post the price when the signal was given. I may also add an image or extra comment about the trade later on. 

Trading Risk Disclosure

The information published in this site is provided with the understanding that the author is not engaged in rendering professional services. Nothing in this website is to be construed as financial advice or to be deemed a solicitation or an offer for you to open or close any contract or transaction. The material covered is for informational purposes only and it is general in nature. This website discusses an approach to trading that may not be personally specific, relevant, useful or appropriate for your needs.

Trading has large potential rewards, but also large potential risk. Trading and investing are speculative and include risk of loss. You must be aware of the risks and be willing to accept them before participating in any market. Trading is not suitable for many members of the public. You must carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances. If you require expert advice that is specific to your needs, objectives, financial resources and other relevant circumstances, you should seek the services of a professional person near you.

This website cannot disclose all the risks and other significant aspects of markets and trading in general. You should therefore carefully study all documents and trading materials before you trade. If you choose to trade on any information you find on this website, you are acknowledging that any profit or loss is entirely your responsibility.