Hello All,
In this thread I'm going to detail how I trade Cryptocurrency.
I've been trading Crypto for the past 6 months with pretty decent results.
The strategy I use is based on a culmination of different techniques and knowledge I picked up in my time trading the Forex market, which is what I traded before moving to Crypto at the beginning of the year.
There are two parts to the strategy.....
The first part is what I use when the a large rise/bull run is taking place - (you can learn how to use this on my site - see below)
And the second part is what I use when the market is slow or ranging/consolidating.
My strategy is simple to trade but requires some explaining, so I'll be posting pics and doing analysis of different trades to help you understand why I took a trade and what you can do to begin doing the same.
Lets get to it.
P.S I've also started a website that has free information on Cryptocurrency trading.
https://www.cryptotradingschoolonline.com/It's a new site, so there's only a few articles and things on there at the moment, but I'll be adding more articles to it in the near future, including ones that go into more detail on the techniques you'll see me use in this thread, so keep an eye open for them.
Also, if you have any questions you can ask me on the thread or email me at
liamcrypto123@hotmail.comWill,congrats and this is a good idea of your own trading,ww hope thats this your ideas of trading could give an example into this community,and people continue to strive doing there works of trading investment despite of this chaos thats we struggle now into the world of cryptocurrency due to bearish happen now in the crypto market.
Thanks for your kind words, Hashtag
.
Thanks for the technical analysis.
I especially want to note that the graphics are very visual, and at the same time simple and understandable. This is a huge plus personally for you.
Glad they are, Rebrik. Nice to have you on board.
Very useful information and analyses in this thread. Visited your site and despite it is not ready it is well structured
I am not a beginner in trading but we can always learn and I found some interesting ideas in the articles. I will be follow up
on your site. Keep up the good work.
Thanks, bartusy. More articles, including ones which go into detail on the buy area sell area strategy, will be available on the site soon, stay tuned/
Amazing, I am very interested in your article. after reading the tips for trading I feel that a trade is not difficult, only we need to be more careful and think about it in more detail, I agree if you are a professional trader.
I like tips number three, "don't trade with money you can't afford to lose", because most people feel great before starting, so they dare to spend a lot of money to trade without having a good strategy, causing them to suffer losses and ultimately hate trading.
Yeh, that's probably the most important tip to be honest, Vanshenz. So many people come into trading thinking it's easy and as a result, end up risking way more money than they should. Needless to say, once they start losing it demotivates them and then they either quit trading altogether or start learning how to trade properly.
I think if more people knew the basics of trading and what it involves then that alone would make a lot more people successful. Finding a strategy/knowing how much to risk is like the first thing you learn trading other markets, but it in Crypto, due to the lack of education out there, it's not common knowledge, causing lots of people to get off on the wrong foot.
Hello All,
In this thread I'm going to detail how I trade Cryptocurrency.
I've been trading Crypto for the past 6 months with pretty decent results.
The strategy I use is based on a culmination of different techniques and knowledge I picked up in my time trading the Forex market, which is what I traded before moving to Crypto at the beginning of the year.
There are two parts to the strategy.....
The first part is what I use when the a large rise/bull run is taking place - (you can learn how to use this on my site - see below)
And the second part is what I use when the market is slow or ranging/consolidating.
My strategy is simple to trade but requires some explaining, so I'll be posting pics and doing analysis of different trades to help you understand why I took a trade and what you can do to begin doing the same.
Lets get to it.
P.S I've also started a website that has free information on Cryptocurrency trading.
https://www.cryptotradingschoolonline.com/It's a new site, so there's only a few articles and things on there at the moment, but I'll be adding more articles to it in the near future, including ones that go into more detail on the techniques you'll see me use in this thread, so keep an eye open for them.
Also, if you have any questions you can ask me on the thread or email me at
liamcrypto123@hotmail.comVery good result for six month but I think you need more time to become professional trader. Maybe it works now but how about next week, month or year? market is mystery and no one know what happen in future. Keep going with your strategy because need more than just result in six month, everyone have different mindset and calculation and I believe your strategy look's hard for me. I'll make time to understand your strategy but thank you for sharing this.
Thanks, repbit. I've only been trading Crypto for the past 6 months, I've actually been trading much longer. I traded the foreign exchange market (Forex) - which is all about trading normal currencies - for 5 years, which is where most of my knowledge comes from. What you said about the market changing is very true. However, the market can only ever be in one of two states; either it's trending or it's consolidating (moving sideways), which is what it's doing now. Whilst trends and consolidations will never be the same in terms of their construction and formation, the strategies for trading them will always work, so I'm not concerned if the market changes.
At first glance the buy/sell area strategy looks quite hard, but it's not the difficult once you understand it. The strategy itself is pretty simple; you find a point where a big reversal has taken place in the past and then watch to see if the price reverses at the same point again in the future. The hard part, which also isn't that difficult once you have some experience, is finding and marking the areas and knowing what to look for when the price enters the area. (See the reply below for a quick overview of how to find the areas)
Etherium Update: Trendline Broken
30 minutes ago Etherium broke through the trend-line I marked in my earlier post.
The price may now fall into the buy area I said to watch for a reversal.
Currently it's in a weak buy area I forgot to mark in previous post. We could see a small rise to take place from this area but I think ultimately it will end up being broken and we'll see the price fall into the area below.
As always, the price will tell us what it's going to do.
I have some questions teacher!!!
1- How do you define de buyarea and sellarea? Is it from the last point the price made a rise/drop?
2- How do you define a strong buyarea and a weak buyarea? Is it from the power Of the last rise or because the trendline break ?
Great questions, Melandro.
You've pretty much got the strategy spot on. There's just a couple of things that aren't quite correct.
The buy areas and sell areas are found at the points where a large reversal took place.
You can see each area I've marked has been drawn on a point where a large reversal took place and when the price returns to it in the future it reverses.
To draw an area, find where a large reversal took place and then locate the beginning of the rise or drop that caused the reversal. Once you've found the beginning, draw a rectangle from the beginning of the rise or drop up to the highest high made before the drop (if you're drawing a sell area) or the lowest low made before the rise, if you're drawing a sell area.
No, it's power of the rise or drop that defines how strong an area is.
If an area has a strong rise or drop away from it i.e the candlesticks that caused the rise or drop are very big and showed the price increased or decreased by a large amount, that area has a better chance of causing the price to reverse than an area with a rise or drop consisting of small candlesticks.
An area that doesn't have a strong rise or drop away can still be considered strong if the rise/drop away from it last for a long time.
For example:
The rise away from buy area 1 (blue arrow) wasn't as strong as the rise away from buy area 2 (red arrow), as evidenced by the size of the candlesticks that showed the rise. However, because the rise was lasted for quite a while it was still a strong area, hence the reason the price reversed at it once it returned.
Hope this helps, Melandro.
