As a researcher with a background in financial markets and experience in following the trading world, I find Peter Brandt’s approach to be both intriguing and thought-provoking. The longevity of his career and the success he has achieved through his unconventional methods challenge many traditional trading techniques.
Popular trader Peter Brandt, who has been in the business since 1975, recently shared some of his trading secrets that challenge conventional methods. In a recent X post, Brandt published a list of strategies that he does not use in his futures and forex trading.
The trader highlighted his preference for steering clear of trendlines, various indicators, short-term market engagement, and accepting losses. He is indifferent to win ratios, the actions of his trading counterparts, and the underlying market dynamics.
As a responsible crypto investor, I follow Brandt’s advice and set a limit for my risk per trade at 0.7%. I don’t let the fear of getting stopped out or being trapped in a specific market or asset class hinder me from making informed investment decisions.
Probably different for all, but for me:
-Indicators of derivatives of price. Why study a derivative when I can study price itself
-Trendlines are diagonal and I prefer BOs of horizontal boundaries— Peter Brandt (@PeterLBrandt) July 9, 2024
Brandt’s unique trading style, emphasizing rigorous risk control and mental fortitude, has granted him iconic recognition within the financial markets.
Double top or not?
In the current scenario, Brandt’s latest perspective on Bitcoin adds intrigue. Yesterday, he put forth an idea that the cryptocurrency might have formed a double top structure. This theory implies a possible minimum price level of $44,000. A double top pattern represents a bearish technical reversal sign, typically indicating a transition from bullish to bearish market trends.
The trader pointed out that a genuine double top formation in Bitcoin‘s price requires a significant dip, roughly equating to 20% of its value. At present, however, this level of depth has not been reached; instead, the current dip represents only about half of what’s needed. This implies that while there might be an opportunity for a bearish turnaround, the pattern remains incomplete.
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2024-07-09 18:10