Some trend techniques explained of today's BTC trade.  Great thank you! Probably you have some techniques considering trend trading. Some ideas or so Please share Why you enter at a third touch? Here are some general rules I apply during trend trading1) Take your time. Never try to make projections based on nothing. Wait the trend to start and jump in it. Never increase the position which would be opposite to the trend. 2) Keep the balance between patience and speed. Wait for right moments and then act quickly. 3) After you closed the position look for a new one. Do not forget to analyze. 4) Pay attention to breakouts. Great moments to enter 5) Look for the market carefully, using different timeframes. This way you see the whole picture 6) It is better not to go “all in”. Use pyramid trading 7) Having a trending market, try to catch the third touch of the trend. This way the movement would be confident |
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The higher the leverage the higher the risk that is why it is better that you are well versed in trading when you enter leverage or margin trading. Margin is good because it can give you big profits if you trade correctly but if you failed and made a mistake then you could lose everything. You have to really keep an eye on the market to make sure your win and if you think the trend may go down then exit to avoid major losses
There is a theory on the ratio of the position size or leverage to profitability. It is not linear. The thing is to find optimal leverage/postion size. You may have the same profits having x5 and x100 leverages, but in terms of risks these things are really different, obviously. What is this theory?  You can find it here: "Money Management Principles for Mechanical Traders" by Ralph Vince Valuable book |
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The higher the leverage the higher the risk that is why it is better that you are well versed in trading when you enter leverage or margin trading. Margin is good because it can give you big profits if you trade correctly but if you failed and made a mistake then you could lose everything. You have to really keep an eye on the market to make sure your win and if you think the trend may go down then exit to avoid major losses
There is a theory on the ratio of the position size or leverage to profitability. It is not linear. The thing is to find optimal leverage/postion size. You may have the same profits having x5 and x100 leverages, but in terms of risks these things are really different, obviously. |
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Which trading book do you think is the best? And which book would you recommend reading to a newbie?
What resources or video lessons would you recommend?
I am interested in the most difficult question - where to start.
These are the books I consider a must for both newbies and even those who already have an experience. Actually you will find there everything you need. They are making up 3 core parts of trading (tech analysis, money and risk management, trader's mindset - this one should not be underestimeted, you will find there all the factors of possible losses) TRADING BOOKS ADVICE"Technical analysis" by Lohn J. Myrphy "Money Management Principles for Mechanical Traders" by Ralph Vince "The Disciplined Trader: Developing Winning Attitudes" by Mark Douglas "Super Trader: Make Consistent Profits in Good and Bad Markets" by Van K. Tharp You can also find something useful in trading on Twitter: https://twitter.com/MarkRobTradesFeel free to ask questions! |
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Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.
1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?
I forgot to mention I trade forex market.
Hello mate! Thank you so much. Guess it would not be difficult to switch from forex to crypto, the principles stay almost the same. As for your questions, 1. Mostly BitMex & Binance 2. XBTUSD (=BTCUSD, that's how it is called on BitMex) - both futures and perpetual. ETHUSD (BitMex mostly). For a couple of month pay attention to BNBUSDT (Binance). These are the 'favorite' ones. But basically, I monitor several alts. For instance, TRON may have interesting turns in June. 3. SL and TP - it depends. As usually, consider: - Highs / lows, strong levels - Volatility - Volume - Pattern size P.S. Profit/loss ratio is recommended to be higher than 2:1 Personally I keen on trailing stops for a long time already. Tbh, crypto in terms of SL/TP does not differ so much from forex/traditional markets. 4. Yes. E.g.: BitMex - up to 100x. Many types of orders and just comfortable in use (personal judge). Bitfinex - up to 33x. Low commissions. Hope that would be helpful somehow. Feel free to ask more. Cheers! Thanks Mark for the detailed answers to all my queries, its really appreciable. I have tried crypto trade on Binance but never tried it on Bitmex. Thanks for sharing your experience about Bitmex, I will definitely give it a try. I agree to your point that basic principles of trading all the financial markets are same. Patience is needed to wait for the right trade. Chart patterns are same in all markets, you need to learn it. Plus points of trading crytocurrencies over forex is, good profit can be made in crypto market w/o taking over margin trades, Cyrpto market is open 24*7 whereas forex market is open 24*5, deposits and withdrawals in crypto are automatic and faster than forex market. Thanks again for sharing your experience of crypto trading. You are welcome! Wish you good luck with all the trades strated and continued, would be gals to hear your opinion after some period of Bitmex trading. And yeah, patience is a key. A couple of posts above I was writing about that exactly. Prioritizing to save funds first of all about patience. Daily profits are great, but long term profitability requires more complex things. Sometimes I feel that I'm ready to wait for years if I do not see a right moment. |
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I have a more regular question than others and it is not about trading at all, I mean it is about trading life style type of deal but not trading exactly. I am a person who earns bitcoins by working and I have earned enough to live so far and I am happy with it, you earn bitcoins in different ways but you do not work for somewhere and your full time job is trading so they are very close to each other in some aspects.
My question is, even though this has been the best work I have ever worked I still have nightmares about the potential doom if something goes bad since all my life is attached to this, what do you think you could do if something goes wrong, do you fear every single day that if something goes bad then your whole life will turn upside down? I mean how do you cope with that if you have those fears?
Hello! It looks like you are reading my thoughts. I even wanted to start another thread considering traders lifestyle, as during these years I feel like my mindset was transformed a lot and specifically this help me to cope with stress and keep in control of the emotions (including that fear you are talking about). From my experience, to do such a job (rather consider it to be a business), some rules and principles are a must. This is really valuable as it brings lots of consistency and stability. 1) I plan in advance 2) Always comply with rules of RM 3) Wait for the best trades and favorable conditions 4) Reinvest earned money These simple rules keep me hedged all the time and help me to overcome fears. As this way the trading is much more systemic |
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BTC again gives opportunities. Upwargs range. Closed at the support breakout.  |
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Some trend techniques explained of today's BTC trade. Great thank you! Probably you have some techniques considering trend trading. Some ideas or so Please share Why you enter at a third touch? Yes. Will make a post on that. Third touch means a king of confidence in the ongoing trend. Btw, this is one of the important setups in trend trading |
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BTC again gives opportunities. Upwargs range. Closed at the support breakout. |
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Often do margin trading XBTUSD. BTC currently is in range, took 20x leverage. Btw, acting with leverage I consider 20x to be maximum. The fact to acknowledge: The bigger leverage does not always mean bigger profits. P.S. The amount of capital (including leverage) which should be invested in each trade to bring maximum profits was studied by Ralph Vince theory (Optimal F theory). Recommended to get known with!  Follow me on Twitter to keep up with the latest trades, get price analysis and other trading hints:
https://twitter.com/MarkRobTradesHey seems interesting. Is it a particular book or thread? Yes, he has several books, this theory can be found in Money Management Principles for Mechanical Traders by Ralph Vince Also I suggest to get known with "Technical analysis by Lohn J. Myrphy And one more is The Disciplined Trader: Developing Winning Attitudes by Mark Douglas These books contributed a lot to my development |
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Some trend techniques explained of today's $BTC trade. |
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Some trend techniques explained of today's BTC trade. |
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awesome work! Good luck, I hope you maintain your wins and enjoy many more. You seem to know your shit! Kudos Thank you! The same is for you! |
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STOP-LOSS
This is an issue I was asked about in another thread, but find it appropriate to post the answer here as margin tradins is all about risk and money management
1) ALWAYS set stop losses (obviously, but still)
2) The base for your stop is not a book, but the current pattern, market state & your strategy:
- Look at highs / lows, strong levels
- Consider volatility
- And volume
- Pattern size
3) Do not link stops to beautiful numbers (8000, 9000 etc). Just calculate it
4) Calculate possible risk you can afford in advance (this is about the position sizing also, as well as the next point)
5) Calculate risk-reward ratio in advance
Sometimes I move stop losses to breakeven, but this is a searate issue and should be treated with extremely high attention
Or set your stop loss in a state that invalidates your Trade positions  I personally move my stop loss when its already in green portfolio state, protecting my gains Yeap. Good strategy, but sometimes it cut potential profits. Anyway, you stay profitable, that's good enough |
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Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.
1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?
I forgot to mention I trade forex market.
Hello mate! Thank you so much. Guess it would not be difficult to switch from forex to crypto, the principles stay almost the same. As for your questions, 1. Mostly BitMex & Binance 2. XBTUSD (=BTCUSD, that's how it is called on BitMex) - both futures and perpetual. ETHUSD (BitMex mostly). For a couple of month pay attention to BNBUSDT (Binance). These are the 'favorite' ones. But basically, I monitor several alts. For instance, TRON may have interesting turns in June. 3. SL and TP - it depends. As usually, consider: - Highs / lows, strong levels - Volatility - Volume - Pattern size P.S. Profit/loss ratio is recommended to be higher than 2:1 Personally I keen on trailing stops for a long time already. Tbh, crypto in terms of SL/TP does not differ so much from forex/traditional markets. 4. Yes. E.g.: BitMex - up to 100x. Many types of orders and just comfortable in use (personal judge). Bitfinex - up to 33x. Low commissions. Hope that would be helpful somehow. Feel free to ask more. Cheers! |
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STOP-LOSS
This is an issue I was asked about in another thread, but find it appropriate to post the answer here as margin tradins is all about risk and money management
1) ALWAYS set stop losses (obviously, but still)
2) The base for your stop is not a book, but the current pattern, market state & your strategy:
- Look at highs / lows, strong levels
- Consider volatility
- And volume
- Pattern size
3) Do not link stops to beautiful numbers (8000, 9000 etc). Just calculate it
4) Calculate possible risk you can afford in advance (this is about the position sizing also, as well as the next point)
5) Calculate risk-reward ratio in advance
Sometimes I move stop losses to breakeven, but this is a searate issue and should be treated with extremely high attention
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Thank you Mark for the charts. Probably you explain stop losses? In theory, everything is clear. But it depends so much on several factors. What do you consider while setting? You wrote that we can ask questions, soooo  Sure. Will point out some setups for intraday. STOP-LOSS1) ALWAYS set stop losses (obviously, but still) 2) The base for your stop is not a book, but the current pattern, market state & your strategy: - Look at highs / lows, strong levels - Consider volatility - And volume - Pattern size 3) Do not link stops to beautiful numbers (8000, 9000 etc). Just calculate it 4) Calculate possible risk you can afford in advance (this is about the position sizing also, as well as the next point) 5) Calculate risk-reward ratio in advance Sometimes I move stop losses to breakeven, but this is a searate issue and should be treated with extremely high attention |
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Again chilling on the waves on BNB  |
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Again chilling on the waves on BNB |
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In some times it will be favourable for you but I think you need to be more power in trading in all the time otherwise the survival is very very difficult in trading field but if you put your hard work the end will definitely e positive for you and you can make huge income more than your normal job in trading cryptocurrencies.
Yes. Survival is the primary aim. The system should consist of trading strategy backed by risk and money management. Otherwise, yu can run out of funds and there will be no deposit to use in the future. |
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