Whoops. I do have 2% STEEM. That was a typo. Regarding ETH, we are in a bullish setup with a target of $128 roughly. This is also a key long term target. The folks at Elliot Wave Trader know that I've been talking about $120's since we were in the $40's. And, I'm confident in this number unless we break $70. I trade key levels that show up via Elliot Wave analysis. I am confident in the method as a means to make returns, via tradings against key resistance and supports. And, therefore I am confident in Ether until it breaks. Does that help?
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I should add that Etherium is one of my leveraged short term trades and why it is so high. But if we start to look less bullish, I'll cut my leverage out and take my main holding down as well. That's how I trade!!!
Kinda. I just read your post on Elliot wave trading and it sounds pretty involved. My understanding of your ETH position is 'the model I'm following has this much invested in it, so I invested that much.'
Elliot Wave is involved, but it is the best method I've studied with respect to targets and stops which are critical to being a successful trader. It does take much study and experience. I'm not sure what you mean by 'the model has this much invested'. I am not following anyone on the trade. It simply has a bullish wave structure per elliot wave theory so I am in. The size is intuitive for sure. As long as over 70's. Below 70 starts to make targets like the high $20's likely though there are midterm targets that could come into play. I will cut this position when it reaches the $120's or if it breaks $70. That's how it works. I'm risking $18 for $40. Not amazing risk to reward, but workable.
I'm obviously gonna have to read that book. It sounds really interesting.
Once you read it, you'll see the structures in the market. But as I believe I said Prechter is a terrible trader. I learned how to use it on the EWT. (not a commercial as I pay to be there)
I think I would like to see if I can get a neural network to recognise and follow it.
Maybe it will be enabled by blockchain? LOL
ETH! Lol