Hello,
The world of stock market is not only Wallstreet, Forex etc anymore.
Crypto currencies can give huge profits because the market is much more volatile than the traditional stock markets.
In option to choose the timeframe while trading is very useful. Especially when used with stochastic rsi and the right timeframe-setting. Bollanger band can also be a handy tool added as an extra overview of price calculation.
There is not 1 time frame that works on every coin with the same profit result. The results are also dependent on the market trends while trading.
When you match the stochastic rsi with the right timeframe it is very easy to see when to buy and when to sell. You have to experiment with the right timeframe to see what settings work best.
How to know what settings to use?
I'd say, look at the most recent past of the stochastic rsi movements and think is terms of probability. If you see that with a certain setting the rsi movements match the lows and highs 90%, you have a 90% probability of succes in your trade.
Work with percentages.
You have to be in control of your trade, not the other way around.
Set a stop-loss at the a centain percentage you want at its minimum value.
Set the stop loss higher if the price reaches higher than you expected. Keep adjusting the stop loss as the coin grows higher when there is an uptrend peak so you can go for the maximum.
Use the following tools to calculate percentages.
For example, a currency is 0,0863, how much is an added 5% of this?
Percentage calculators >
1:
http://www.percentagecalculator.co/Add-Subtract-Percentage.html2:
https://percentagecalculator.netMake a schedule and calculate your growth, be in control.
If you start with (...) dollar, how much will this be if I have 35 winning trades?
Here's the tool to calculate easy.
https://www.miniwebtool.com/compound-growth-calculator/?n1=10&n2=1&n3=3&n4=Explanation tool:
- Initial value: your trading budget
- number of periods: the number of trades you want to calculate.
- compound growth rate: The percentage you want are aiming for with each trade.
I experimented with the stochastic rsi and looked at the past, and if you look long enough you'll find a coin on which you can apply the above perfectly and sometimes have over 20% a trade, a trade that takes maybe a couple of hours or maybe 1 day.
If the timeframe is set more than 1- 2-, and 5 minute the reliability is bigger.
What do you think about this, what do you do and how much do you profit from it in terms of %?
