I'm A Professional Trader, Here's My Strategy

[Maxpips]

That's right. Patience, discipline and a cool head are CRITICAL to making money. Without them, it's difficult, if not impossible to become a successful trader.

Just finished another article guys "Still Not Making Money? Change Your Habits".

https://www.cryptotradingschoolonline.com/still-not-making-money-change-your-trading-habits/

My friend wrote this one, hope you like it.

[CryptosD]

Does anyone use bots for crypto trading? do you earn anything? or does it make any sense?
I use tradesanta only a couple of days. Do you have long term experience with this trading bot?

[Adriano2010]

Interesting strategy OP. Can you please say how much you made on crypto from the point of starting trading? I will also search a strategy that not takes so much time, do you tried any trading bots or just doing trade on your own? And when you trade you choose altcoins from top 100 only, or trade just bitcoin?

[Maxpips]

Bitcoin Update: Buy Area Causes Reversal

The buy area created by traders and investors taking profits off their positions (see my last update) didn't cause the price to reverse last night.



We did see a couple of small reversal take place from the area, but no large reversal back up to the high of the rise took place. A 2:30am a large drop caused the price to break through the area and fall into the area below. Just after the price fell into this area a reversal candlestick appeared, and the price started moving back towards the sell area created by last nights drop.



The price has just hit this sell area is starting to fall once again.

I think we could see the price now fall back into the area that caused the reversal. The rise out of this area wasn't that strong anyway, which suggested a drop back in was likely.

If the price manages to make it back into the area keep an eye out for reversal signals in the form of candles with large one sided wicks and candles with bodies bigger the candle seen immediately prior, as both signal an imminent reversal.

Note: A huge drop has just caused the price to fall into the area.

The whales may use this drop as way to buy a load more Bitcoin, which means we could see the drop end up as a spike - a candlestick with a huge wick on it. If that's the case it's likely we'll see a big rise take place in the coming days.

I'll update you when I get back.

Guys, I'll answer your questions later. I got to go.

[arthotdog]

~ snip~

Now I truly believed that skills from forex are applicable in cryptocurrency trading

Looking at your strategy and experiences no doubt that you are a successful crypto trader,things that is really hard to achieve specially in this volatile market,i should have thabk you because i have now new things to look at for my trading habit

Just please continue update us for your future progress on about the outcome of your successful tradings.

[shinharu10282016]

Nice post you have here. Let me scroll on to the website you posted. Where did you get all the information posted on your site? Can it be readily understood by newbies like me who just want to trade for profit? How about stop losses? Is it possible? How do you know what coins to trade for short-term profit? If ever anyone can answer this especially OP, its greatly appreciated!

[Maxpips]

Guys, I'll answer you questions in a sec.

Here's a quick update on Bitcoin....

Bitcoin Update: Huge Drop May Be A Sign Of Whales Buying

After hitting the sell area mentioned earlier, a huge drop caused the price to fall into the buy area.



If you look at the candlestick that shows the drop you can see it has a large wick on the end. This wick shows that someone or a group of people (probably the whales) likely used the drop as an opportunity to buy a lot more Bitcoin, which of course, indicates that we could see a rise out of the buy area take place either tonight or in the coming days.

The point you need to watch right now is the small area.

Usually the whales cannot buy all the Crypto (Bitcoin in this case) they want at one price, as not enough people are selling for them to have their buy orders filled. This means they have to buy some at one price and then buy more at another price once more people are selling i.e after the price has fallen. After they buy their 1st batch their 2nd, 3rd, 4th etc batch will be bought at a similar price, to make it so that when the price reverses they make the same amount of money from each batch, instead of making different amounts, which is what would happen if the bought at a bunch of different prices.

If the wick did form as a result of the whales buying Bitcoin, their 2nd batch of buying will take place from a similar price to where their 1st batch was bought. The little area I've marked encompasses the point where their 1st batch would have been bought - the low of the candlestick wick - so if they're going to buy more Bitcoin they'll probably do it somewhere inside the area.

Watch for reversal candlesticks to form on the 5 and 15 minute time-frames if you see the price enter the area.

[Harlot]

All I can say is Good Job. All the articles in your website seems to be on point and easy to understand which is good for newbies who wants to enter into cryptotrading.  When will your pdf ebook be available? I guess one of my suggestions is setting up a flow woth your book from basic terms to trading itself. As I see the website I can say that articles are justvarrange to the topic fo what you are discussing. I just hope that the ebook will have a flow so that readers won't get lost with the lesson.

[Maxpips]

Does anyone use bots for crypto trading? do you earn anything? or does it make any sense?
I use tradesanta only a couple of days. Do you have long term experience with this trading bot?

I don't use any bots and I wouldn't recommend using them in the current conditions. The strategies trading bots use work mainly when the market is trending, i.e consistently rising or falling. At the minute the market is in what's known as consolidation phase, which means instead of consistently rising or falling it's rising for a bit, then falling, then rising again, then back to falling etc - basically moving sideways. Trading bots DO NOT work when the market is like this, so if you use them you're likely going to lose money.

If I were you I'd take the time to learn how to trade the current conditions and then when the price starts trending again switch to a robot, if you're not already good enough at trading by that point.

Interesting strategy OP. Can you please say how much you made on crypto from the point of starting trading? I will also search a strategy that not takes so much time, do you tried any trading bots or just doing trade on your own? And when you trade you choose altcoins from top 100 only, or trade just bitcoin?

Thanks, Adriano. I'm not going to reveal how much I've made from trading, because I don't think it's necessary for the discussion. As for your questions..... No, I don't use any bots, I just trade on my own, which is how I think everyone should trade. I only really trade Bitcoin and Etherium. From time to time I trade some of the lesser Cryptos like Dogecoin and Litecoin, but Bitcoin and Etherium are my bread and butter and probably always will be.

~ snip~

Now I truly believed that skills from forex are applicable in cryptocurrency trading

Looking at your strategy and experiences no doubt that you are a successful crypto trader,things that is really hard to achieve specially in this volatile market,i should have thabk you because i have now new things to look at for my trading habit

Just please continue update us for your future progress on about the outcome of your successful tradings.

Glad I could help, Arthotdog. Don't worry, I'll be keeping you updated for the foreseeable future .

Nice post you have here. Let me scroll on to the website you posted. Where did you get all the information posted on your site? Can it be readily understood by newbies like me who just want to trade for profit? How about stop losses? Is it possible? How do you know what coins to trade for short-term profit? If ever anyone can answer this especially OP, its greatly appreciated!

The information on my site is just stuff I've learned over the years. Yes it can be understood by newbies (I think). I tried to make the articles as easy to understand as possible, so people wouldn't be confused by the information. Stop losses? I'm not sure what you want to know. If you want to know HOW to place a stop (on Coinbase at least) there's an article on my site that shows you how to do that. But if you want to know WHERE to place a stop loss after you buy some Crypto, check out page 4 of the thread, because there's a full guide there that shows you exactly where your stop should always be placed.

I only trade Bitcoin and Etherium for short term profit. Sometimes I trade other Cryptos, like those mentioned above, but Bitcoin and Etherium are the only two I day trade, mainly due to the fact the chance of having slippage on stop losses and entries is lower on these than it is on most of the other Crypto's.

All I can say is Good Job. All the articles in your website seems to be on point and easy to understand which is good for newbies who wants to enter into cryptotrading.  When will your pdf ebook be available? I guess one of my suggestions is setting up a flow woth your book from basic terms to trading itself. As I see the website I can say that articles are justvarrange to the topic fo what you are discussing. I just hope that the ebook will have a flow so that readers won't get lost with the lesson.

Thanks, Harlot. The book should be available on Monday. I've just got to go through it again and check for mistakes and stuff, then it should be ready. I know what you mean about flow. The book will initially cover some of the basics of trading like Technical Analysis, price charts, indicators etc. But I'll be updating it over time, so it will cover more topics in the future (it's over 7000 words now, so it's not small by any means). It shouldn't be too hard to read anyhow.

[Finestream]

~ snip~

Now I truly believed that skills from forex are applicable in cryptocurrency trading

Looking at your strategy and experiences no doubt that you are a successful crypto trader,things that is really hard to achieve specially in this volatile market,i should have thabk you because i have now new things to look at for my trading habit

Just please continue update us for your future progress on about the outcome of your successful tradings.

Continue to be a blessing to everyone.Good job!You're not just helping a one or two traders but all the traders out there who have read your post.Thanks for the strategies you have shared,i will also apply it on my own.A good trader does not worries if the market is good or bad,he will still make profit from it.

[Maxpips]

Thanks for your kind words, Finestream.

Bitcoin Update: Large Drop Pushes Price Into Buy Area

This morning a large drop caused the price to break through the buy area I said to watch for a reversal in yesterday's update.



We did see a small reversal take place from the tiny area I said to watch (outlined in red), but it didn't last long and it didn't cause the price to rise that much. The fact that we've now seen the price break through the area and below the low of the large wick (red arrow), suggests that whoever bought Bitcoin to cause the wick to form has either A. now lost money or B. bought as a investment. In any case, we could now see the price fall back to the buy area that caused this entire up-move to begin, found between 6033 - 6253.

Although I think we may now see the price fall back to this buy area it could still reverse at the area located just above, which it's reacting to right now.



At the moment the price is only on the edge of the area but I think a drop deeper into it will take place before the price reverses.

As always, if the price falls deeper into the area keep an eye out for reversals signals in the form of candlesticks with large one sided wicks and candles with bodies bigger than the candle found immediately prior. If a reversal out of the area does take place, expect to a drop when the price reaches the sell area created by today's drop, the green area in the middle.

I'll keep you updated.

[Maxpips]

Etherium Update: Potential Reversal From Buy Area

A large reversal candlesticks has just formed on the 15 minute timeframe, suggesting we could see the price reverse out of the buy area over the next few hours or later on tonight.



Both of these areas I marked in my previous update have now been broken. The price broke through the first area in the early hours of yesterday morning after a small reversal took place, which I what I expected anyway. The area found below, which I thought would cause a reversal back up to the highs, was also broken, but only after three smaller reversals took place - these were good for scalping, if you know how to do it.

After breaking through the area the price fell into the area below, which is what it's reacting to now.

This area has a better chance of causing the price to reverse than the two areas above due to it being located at the last point where big money traders and investors bought a lot of Etherium.

As mentioned, a large reversal candlestick (black arrow) has just formed upon the price reaching the area, which could be a sign the price might reverse in the next few hours or later on tonight.

For now, keep an eye on the area and watch for signs of a reversal on the 5 minute and 15 minute timeframes.

[Maxpips]

Bitcoin Update: Reversal Candlestick Forms Inside Buy Area

A hour ago a reversal candlestick (red arrow) formed inside the buy area I said to watch for a reversal in my earlier update.



So far we haven't seen a reversal take place, however, the price is rising toward the edge of the area, so we could be seeing the beginning of the reversal now.

Keep an eye out for reversal signals on the 5 minute timeframe.

[Maxpips]

A couple of people emailed me and asked if I can post analysis of Bitcoin Cash.

I can, here it is....

Bitcoin Cash: Inside Buy Area

The up-trend Bitcoin cash has been in for the past couple of weeks came to an abrupt end on Monday, when a large drop caused the price to fall from 1221 to 1111.



The drop is still in progress, however, that might be about to change because the price has just fallen into a buy area. This area is found between 1222 and 1123 and formed just before the final rise higher took place on Monday. A small reversal took place from this area earlier this afternoon but I think we'll see a much larger one occur once the price drops deeper into the area, maybe around the 540 to 557 prices.

If a reversal does take place expect to see it end or stall at the sell area I've marked.

As always, watch for reversal candlesticks to form when the price drops deeper into the area.

[Maxpips]

Bitcoin Cash Update: Large Drop Inside Buy Area

A couple of hours ago a large drop pushed the price deep into the buy area I mentioned in my previous update.



The size of this drop makes me think the price will now break through the area, however, the candlestick that formed 15 minutes ago closed with a large wick on it, which suggest a reversal could still take place.

For now, I'd keep watching for signs of a reversal.

[@Mhaiang]

That's very informative mate and a very useful tips in getting into the real trading world because trading is not an easy task as it can cost you your crypto assets if you are making wrong decisions. Thank you for that mate!

[kynaz]

That's very informative mate and a very useful tips in getting into the real trading world because trading is not an easy task as it can cost you your crypto assets if you are making wrong decisions. Thank you for that mate!

They give a very good rating and I believe he can update more information in the future. Personally I highly appreciate this topic because of your dedication and I will always follow up on this evaluation. Let's hope that this market can create more useful people

[Maxpips]

Thanks guys, glad I could help.

Here's my Bitcoin update....

Bitcoin Update: Still Inside Buy Area

Bitcoin is still inside the buy area it fell into as a result of yesterday's drop.



You can see a reversal caused the price to rise up to the edge of the area in the early hours of this morning. This rise doesn't look very strong, as evidenced by the fact it mainly consists of small candlesticks. However, that could just be because of the time it took place - I doubt many people are trading and investing 12 - 5am on a Saturday morning.

30 minutes ago a reversal candlestick formed (black arrow), which could cause the price to move out of the buy area and towards the sell area this afternoon or later on tonight.

At the moment, I'm not convinced this candlestick will cause a reversal. However, if one or two large candlesticks push the price up over the next few hours without the price first breaking through the low of the reversal candlestick, then that would be a better sign a reversal is taking place, and I might decide to place a trade.

For now, keep watching for signs of a reversal.

[Maxpips]

Quick Bitcoin Update: Reversal Candlestick Could Cause Drop

A reversal candlestick (red arrow) has just formed on the 15 minute timeframe.



This candlestick could cause the price to fall back into the buy area over the next few hours.

If that happens another reversal out of the area may take place.

For now, monitor the situation closely.

[Maxpips]

Update: Just closed 1st Etherium trade for 4 point win, second trade still open from 212.35.

I think we could see the price fall back to the buy area between 211.81 - 212.35 over the next couple of hours.

I'll give you a full update when I get back.