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Relative strength index like the name is to know the strength of market and where price have been going to so it helps traders although it has a fault that when market direction have changed to buy, it still stays down indicating for overbought until it will slowly change to buy signal. Apart from RSI, drawing of lines and chart are good, mastering candlestick is also good but on a longtime.
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so I did not set take profit at all. You can use trailing stop or manually adjust your profit if you don't want to exit or take the full profit I saw the market at $38900 today and I closed position and I gained. Congratulations for your profit  Waiting for $32000 to $35000 to open long position or 42000 to 45000 to open short position. Even anytime I am losing, I leave the market open until I gain, swing trading is the best. Risky venture. Don't be too confident because no trading strategy is the best I am using the amount of money I can afford to lose. Nice and always advised so that regret and tears don't fill the cup Hahah But I am still thinking that their could still be more bear, I trade for bear more this time. Don't always put your mind on one direction even as it looking that way. I think it is better to trade what is seen. |
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How has your trading been lately with this Ukraine and Russia war. The market has not been stable since this war have started and yesterday bitcoin volatility was a little high and later dropped, now trading on a low at $39k. Of course trading is bull and bear, profit and loss  So what is your experience so far during this war? I'm like wanting to know .... |
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...In this DCA strategy what I do is using lowest X leverage and increasing my leverage as the market continues to have a pull back until my terms are met. ..
The fact that you are gaining a position in this way helps to get the average cost more profitable, but it will not save you from sweating money. Since you do not indicate that you are using a stop loss, then you can still lose your money if the price continues to decline. There are few ways that we trade that are not right. They are just time waiting for a strike on the account and any little opposite direction , the account is out. Increase of leverage is a fast killer. Trading is suppose to be slow pace and gradually you get your cup filled but if you rush you may lo lose all. Trading with out a stop loss mechanism is another factor. |
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All what i mean by that is to create system for us to not work its energy and resources efficent if 10% people of population only do the real work.
Others can be investors and traders.
Its a perfect way how the world should be
To this I think you can say that the government should not not try to stop hodling and trading of coins but not talking about supporting it and refunding lost money lol, government won't have to support that because that will mean government to support failure. To my best, I think government can train people in artisan but not in crypto trading. |
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Trading should be supported by goverment
Also should be some kind of reward or insurance kind of system if you lose you dont lose your own funds but they are free this way more people want to trade.
Goverment can easy support traders with traders social support allowonce i name it tssa allowonce monthly to spend like 1000-10k or if you have business account then even more support
You have to know government don't like cryptocurrency and they won't like trading either. They see cryptocurrency as a frivolous venture that isn't built on any solid ground and that is why they try to ban it. They have called it bubble, they don't see anything realistic out of it and they won't support that kind of agenda. But you also brought in a funny part to it, you want government to take the losses while the trader takes the profit, this is impossible. No mentor will be cool with losses because you will be unserious if you only have business with profit. Government is business and they allowing you all the profit, they don't have gain. |
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Anyone that is choosing to be a full-time trader has to be full knowledgeable on this. If you’re not, no matter what you decide to choose, you’re always going to keep on losing your money and no matter how hard you try.
Despite the way someone trade, whether full time or not they must be fully knowledgeable about what trading is and how they can make profit from it. If you don't have the proper knowledge, you will end up still in losses no matter that you become full time trader or not. In trading, knowledge of it is very important like to know the terms, leverage and the rest and to apply them proportionally. |
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There's still a long way to go for this year to end and then 2023 will come. I'll save as much as I can and would buy bitcoin at the dip when the bear has hits it again.
This year and 2023 don't look like bear is taking over. This year with what is happening with news about making bitcoin as legal in some countries, it is seem that if bitcoin is acceptable to the level of legal status, then many investors will buy and bitcoin will increase. The halving is also getting approaching by next year, the volatility will increase and the price may go more highs. Buying now maybe a good buy  |
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That 40 mile long armored forced turned to be dummy and was implemented to identify how many aircraft Ukraine armed force left. One of Russians officials said that lately. Not only Ukraine Russia is also losing some aircraft and a great number of soldier to these war. Both economy is suffering due to these ongoing conflict which is slowly becoming the Syria of east.
I think the war is having negative effect in both countries. Watching Ukrainian leave there country is worrisome, the Russian forces too are getting a hard resistance from the Ukrainian soldiers and they are losing men too. They are fighting not to give up their territory to Russia. But now Russian military is planning to attack the city of Odessa as the next attack. |
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I prefer binance. Binance service is more safer for me. I read some comments that btc withdrawal is a little delayed but I think that is not just a binance problem, it is general for btc withdrawal or deposit in most exchange so not only binance. But I noticed USDT is faster so I could convert to USDT for no charge and withdrawal USDT and that is fast for binance.
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Russia is experiencing heavy sanctions by EU and US, especially the SWIFT Ban from the EU is a hard one.
So what would happen if Russia went full adoption on BTC as this would be an unregulated alternative.
Bitcoin doesn't have anything to do with Russia currency for now. The issue is Swift ban and that has cut Russia off from access to cash this is part of the reason for rupees crashing. On bitcoin, if Russia goes full adoption on bitcoin, it won't change the fortune of Russian economy, it can only get bitcoin price going higher because whales will take opportunity for more investment. |
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In the midst of death there is life. I hear this times when people say it and about trading, even when it is bear some traders still place a buy order and get profit from it. Bear times doesn't mean every trader should go off the market, of course trading should not be in just one straight line but up and when it should come down is to sell. Trading and hodling don't follow same way.
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What the heck are you talking about op? You are clearly spewing a whole lot of nonsense. Anyone with a half-decent brain knows that wars always have negative consequences(Money, Food, Shelter etc).
This war primarily started because of Putin due to various reasons and will end because of him. No one else wanted it. Only people can save economies(Not Wars).
I get confused with OP. War is capital intensive and changes the focus of a nation therefore affecting the economy. War don't rebuild economy and with simple analysis we can see that. In war you need to spend money to buy weapon that will aid with the one you have and money for other projects will be used for it. Some times it leads to printing of more and the effect is inflation. War don't help any country, it destroys. |
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This is not about swing trading though but about scalping and day trading, are you making profit from it?
You didn't confirm that you are now making steady profit with your new found strategy, swing I feel all strategy work find only if you understand them. I have seen the market to be volatile for two years now The market doesn't stay in one direction for two years because in between, there is bull and bear also. Two years was in 2020 and in that year bitcoin got lower below $4k and went higher in 5 figures too. Moreover in between there is bear and bull, the difference is to know the trend. |
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For many years of trading ,I have been looking for the perfect trading strategy , but I came to realize that there's no perfect trading strategy but you can create a rule base strategy that works when you decipline yourself and follow the rules even if at the end of your analysis and it finally becomes a lose trade, you're gonna be fine because you followed the rules base system you set for yourself and not trying to beat or out smart the market.
I appreciate this. It is the right thing to do that we follow a pattern of trade that we take decision on so if we lose we are cool with it and we are losing small part of our money. Going by the capital we have we are not to trade exceedingly and take too much risk that our capital is put on risk. Always we are to do a proper money management to our account. We need to money management in any trading strategy we have and that determines our success rate in trade. |
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The current state of Bitcoin suggests that it will reach 50K in a day or two. Because Bitcoin suddenly dropped from 45K to 35K in one day and after 3-4 days it has returned to its previous position. So I think it will not stay in the same place for long even if it goes to 50K. If it is not more than before, it will be much less. Trading now is very risky for everyone. Because Bitcoin can dump again and again. And if they do not make a profit by buying at a high price, then it is a loss to the traders.
Nah, not even close, in the last 24 hours, the price goes down below $40k. So we are not again at this level prior to the massive spike. So it's a dump but hopefully when things clear again we will bounce back. But i don't see it going to $50k. There's to much resistance at that, and with the war still a big factor, we may have to wait. The Russian conflict what makes people doubt about the possible happenings with bitcoin and crypto then maybe we cannot see any good insights if this war will not end since some of the people make this a basis to see if there's something good will happen with bitcoins. Many are still thinking about bearish so I also doubt that we can see the $50k figure which is speculated to be break before. You don't be surprised that the volatility will return to bitcoin soon at least last week was seeing some recovery of bitcoin only yesterday a little draw back with price. The invasion of Ukraine is getting people to run into bitcoin hodling and this is capable to shift price faster than we think. The first quarter is about to end with price hanging around $43k, this can be a good start. |
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I do not know, why would I want to get drama in my life? I mean don't we all have it already? Since 2020, we had pandemic, I had some family emergencies, some health crisis unrelated to covid, now war, and plenty other things in between as well, this past 2 years has been probably worst in my life already. I do not get why we need more drama? That could be the reason why I am in long term holding as well, it just makes sense that way and I could be making a decent return by simply holding and ignoring everything.
I just buy and hold and keep it there, and that's all I do, I do not care about anything else. Doesn't that make more sense to you? I am not saying that it should be profiting a lot, it may not, it may take a while but it is calming and relaxing way to do it.
Unlike you not everyone can hodl coins for that long and keep buying more to add up. It is really nice for you if you kind of being able to do this. Hodling coins is good but something might crop up like family emergency, health issue and shelter then we can sell to take care of our lives. By the way you are emphasising on war going on, are you from Ukraine? If you are, my sympathy to you and your country men. |
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whether swing trading, or long trading and short trading, all have their own advantages and disadvantages. many actually do all three, which have different levels of risk so they have different treatments. indeed day trading is more complicated than swing, but it can be used as daily income for every trader
You mentioned that they all have advantages and disadvantages. Therefore no one is more complicated than the other is just the way we have learnt differently. Some one that swings may not enjoy daily or scalping kind of trade because simply, they don't understand it and likewise for a daily trader may not like swing because it takes you lots of time. It is a matter of preference. Like another man's meat and another man's fish is preferred. |
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Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet.
What if the exchange got hacked or it have some issues that they need to freeze the funds of its customers? it's risky to store funds inside the exchange but we can just sacrifice some fee for the safety of our coins and also for our peace of mind. You cant focus on your trades or you can't sleep at night when you know that there is something bad that can happen to your coins anytime. There are now coins that are cheaper in fees so why not use them? If your trading with heavier coins, you can just trade them to a cheaper coin once your done with your trades. Stable coins are stable and can help a trader but if you didn't withdraw your stable coins outside the exchange, it is still the same. About hacking of exchange, it is wiser to trade in reputable exchange that is difficult to get hacked. But I think another choice to fee reduction in daily withdrawal back to wallet is to use stable coins. With stable coins you are keeping your coins safe from fluctuations of the market just like you gave example of stable coin but to withdrawal a coin daily won't be profitable what of if profit was not made after the daily trade. |
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Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet. But making withdrawal always reduces your profit.
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