Here's how I see $BTC the most significant levels and consolidation zone. Bearish sentiment is growing that may result in negative price dynamics.  |
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Aw, definitely I had losing trades. Zero-losses would be impossible, man Look, it's written that 55% of trades are profitable. Thus, the rest was losing. 45% with 1R obviously Wow, will look at the further dynamics! Thank you |
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SEPTEMBER TRADING RESULTS The month turned out to be dedicated to shorts 🐻 Overall, not bad, but also not as it was expected.  |
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SEPTEMBER TRADING RESULTS The month turned out to be dedicated to shorts 🐻 Overall, not bad, but also not as it was expected. |
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 Just closed the trade inside the diapason after the second attempt to break the resistance. Looking for the strong levels and diapason trading opportunities. |
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Just closed the trade inside the diapason after the second attempt to break the resistance. Looking for the strong levels and diapason trading opportunities. |
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well I want to ask if you regret it after quitting your job?
maybe you can get a bigger income from trading, but it's risky and not profitable every day.
I have a friend who has trading experience for 6 years, and he still does other jobs besides trading, he also said trading is a side job.
but if that's what you want it doesn't matter that's your decision.
but what I want to say is to be wise in choosing decisions that have a big impact on your life later.
Never! This was reasonable from many prospectives. What is necessary to have an emergency exit, I mean the job to start immediately in case of any unpleasant situation The rest depends on many factors such as financial situation, ambitios, health, etc |
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Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.
Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals. Can you explain how you build your mention?  I can write you in direct so as not to look like an advertizing page  I don't think that in such a specific topic it can be viewed as ads. But if you write I'll be glad. Today services with real volumes are so rare. Do you use VSA principals? Or own 'handmade' experience? Some studies or lifehacks? Well, tend to agree. https://volfix.net - use this for pretty long time already. Yeah! VSA principal are great to be comnbined actually with plenty of strategies. Handmade experience is of course, during many years you cannot avoid this. I'm trading the last time lots by price action, a broad topic that is explained in a very appropriate manner by Larry Williams, familiar with this? Besides, as I've aready wrote here there os a list of the books I consider to be extremely useful in trading Books: "Behavior of Prices on Wall Street" Toby Crabel: “Day Trading With Short Term Price Patterns and Open Range Breakout" Murphy, John J.: “Technical Analysis of the Futures Markets” - MUST (charts, candles, basics...). Also try Edwards and Magee Boston: "Technical Analysis of Stock Trends" Wilder, J. Welles.: “New Concepts in Technical Trading Systems” Dr. Elder.: “Trading for a living” Larry Williams: “Long-Term Secrets to Short-Term Trading” |
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Wow, BitMex is huge. Why isn't Bakkt on there?
Mark I am sending you +1 Merit for all your helpful replies in this topic.
Yeah. Looks like it is too early. Probably being so well-established, Bitmex is not willing to conduct contraversial actions. Thank you a lot, Pipdips! Trying to be somehow educational  |
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Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.
Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals. Can you explain how you build your mention? I can write you in direct so as not to look like an advertizing page |
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The time will show how Bakkt is. The 75x difference comparing to CME volumes is not necessarily a failure. Growing competition between the derivatives platforms is driving the industry.  |
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The time will show how Bakkt is. The 75x difference comparing to CME volumes is not necessarily a failure. Growing competition between the derivatives platforms is driving the industry. |
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BTC continues to fall below the $ 8000 price level. Do you think it is similar to the case last year, when BTC accumulated in the $ 6000 resistance line before falling 50% in a few days later? So this time we can wait BTC at 5k $ price?
Compared to the rest of the history of its fall, this collapse does not look so impressive. The fall of the main cryptocurrencies by 14.3% occupies only 41st place in terms of volume of fall, since 2010. This Bitcoin crash happened just one day after the release of the long-awaited physical delivery futures trading platform, Bakkt, and it seems to have had a very strong impact on the cryptocurrency market. Suppose, the fall will be stopped soon. This was not Bakkt only. There were also tech issues and the traditional market events influence. As Bakkt has shown, the investors are not that ready as the were supposed to be |
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BTC continues to fall below the $ 8000 price level. Do you think it is similar to the case last year, when BTC accumulated in the $ 6000 resistance line before falling 50% in a few days later? So this time we can wait BTC at 5k $ price?
Crossing $8000 was a significant move in terms of psychology. The sentiment is changing at a fast pace. For now we cannot judge for sure but the movements indeed look like the ones of the previous year However, currently thy price is consolidated. Thus, let us wait for the next steps It continue side away in this new 8k $ level. And then, maybe will like the past. I think this time we can long BTC for scalp trading, but for the long term IMO we will have a big dump awaiting. Agree. Since August there are more scalping opportunities |
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 The drop is not so impressive as previous year, anyway, we have what we have. The price is still moving in a range with the major bearish and bullish targets ($7600 and $8400 accordingly) |
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The drop is not so impressive as previous year, anyway, we have what we have. The price is still moving in a range with the major bearish and bullish targets ($7600 and $8400 accordingly) |
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BEARISH ENGULFING
Shorted after a bearish reversal pattern 110 patterns reward  The pattern is broken down:  Oh, a quite interesting strategy with results. Have you any scripts on the TV platform to find such patterns? Or "handmade" only? Do you use volumes in own analyses or candle&FA only? I'm interested in such methods of trading. But I try to view on the volumes also because TA is secondary, volumes and sales are primary as I think Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences. The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts. If I see an interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case. |
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Mark, do you see alternate coins behaving much differently compared to Bitcoin? I nwaotice that you trade with some of the big alts like ETH and XRP. Do those big Alts alys seem to follow the price movements a few hours or days behind BTC's price actions? Can you describe any behavior patterns like that between BTC and Alts, and how your trading pairs switch from trading BTC over to an alt, are there any dependable reasoning behind what makes you decide to switch pairs like that? Are you spending equal amounts of time monitoring several cyrpto's every day, or do you mostly just concentrate on watching the price of BTC?
For many years there was a high level of correlation between BTC and the majority of alts. Here is an example:  0.5 to 1: Strong positive relationship 0.3 to 0.5: Moderate positive relationship 0.1 to 0.3: Weak positive relationship -0.1 to 0.1: No linear relationship -0.1 to -0.3: Weak negative relationship -0.3 to -0.5: Moderate negative relationship -0.5 to -1.0: Strong negative relationship To see the correlation I use historical data and calculate calculate Here is the resource I started with: https://coinmetrics.io/correlation/My major concentration is futures, mostly BTC. I'm not a fan of correlation strategies, but this works. Use it mostly with ETH and BTC Other alts, if traded, are not to linked to BTC in my strategy |
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Will good luck for your new journey in trading. Quit your job if you are profitional trader already lets hope you wont regret your discision in the future because trading is realy deficult specialy in cryptocurrency its so volatile. For me i can do trading and working at the same time so that i have choices of income.
Committing 3-4 hours daily in cryptocurrency should be enough except for the so called day traders or involved in crypto project. Sometimes you might find it undeserving as the sole business with only trading. It keeps sedentary lifestyle and prone to eye defect with regular exposure to phones and laptop. Crypto is more lucrative with a long term plan It depends on your skills and ambitions. On your trading style also and capital under management. Everyone chooses this on your own. |
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Good for you man, for now i am keeping my job and will keep trading for my free time
but i am really targeting to also quit working so i can focus full time on trading but investment wise i wont rely on trading alone
i will not be employed but i am aiming to established a traditional business to support daily expenses.
I guess being part time or full time really depends on the traders preference.
Since long i am also dreaming this way I want to make my own business and for this I am trying to trade and work at the same time. In this expensive era we cannot rely on single way of earning money. So gradually I am also sparing money also suggesting you to spare money so we can setup our own business and also we can carry on trading in free time of our day. One of the worthy options. Personally I reinvest the money to the new trading ideas, more trades etc. Business bears its own peculiarities, but is an interestng and prospective idea as well. This is great if once you made mistake you couldn't have great trading experience then you just have to be good for the next time. You will have to again trade with new capacity and new determination. You should gaib all related information to avoid lose for the next time. Trading can give you sufficient profit but you will have to carry it properly and keep learning. Yes. If you try and fail, congratulations! Most people won't even Try. You only fail when you quit. |
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