@Jtsmith0302, the trade played out perfectly, no? Press play on the chart to see.
Jtsmith0302
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I'm pretty new at this and am learning the technical aspect of trading. I have a long position in CTRM and would love to understand your analysis and the context around "14:1 risk to reward ratio". Would you mind offering a bit more of your thought process to this trading novice? I'd love to learn more.
On the chart you see a price range in green and magenta. The mangenta shows how much I could lose and the green shows how much I can gain if I were to sell the position at the shown levels 19$ or 0.11$. The reward / risk ratio is 14.11 which you can see by hovering over the green box. In other words I could gain 1297.06% vs losing 91.91% on my investment. I consider this a long term trade. I would adjust the position size according to my risk tolerance. In other words, i would adjust the position size such that I would never lose more than I'm willing to.
Jtsmith0302
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@BullBearBeckham, thanks! That makes total sense. I appreciate you taking the time to explain. Makes me feel way better about long my position. I’ll be following you moving forward. Cheers!
BullBearBeckham
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@Jtsmith0302, Hi. Hope you noticed how this chart worked very well and hope you stuck with the plan. I'm a few coins away from paying for my pro membership so feel free to send more. Thank you