Great job. I would also like to read your story as you came to the forex market, how many years of experience, was it difficult at the very beginning and what results did you achieve
Sure thing, Cryptopower. I'll try to get an article or post about it out in the near future. It was definitely difficult though, I can tell you that right now.
Hello Maxpips.
What can you say about current situation? Was $4000 final bottom for BTC or we can drop lower?
I am completely uncertain: to stay out of the market now, to open a short position or a long one? Opinions are different everywhere, no one can say anything with confidence. Almost panic )
Honestly? I'm not sure. I think there's a good chance it could be the bottom but for how long, I don't know. For now, my advice is stay out the market and wait for things to calm down a bit. The past couple of weeks have been so crazy that it caused a lot of uncertainty, both with traders (including me) and investors, hence the reason for the big dumps we've seen. I think it's best to just watch from the sidelines for a while, see what the price does over the next week or so.
Looks like a possible trendreversal? Lets see what happens next.
It could be Obi, but I'd wait for more confirmation first. We might see a reversal back up the sell area created by the recent drop and then another large drop lower before a big trend reversal begins.
Any books you recommend or feel are a 'must read' for people who want to be serious about trading?
Already read Trading in the Zone, amazing book about the trader mindset.
There's a few but they're not really books on strategies or stuff like that, they're more about understanding certain concepts and truths about the market. Like one of them "Time Compression Trading" talks about how the Forex market is a zero sum game (the Crypto market is too) and the implications that has for you as a trader.
Another one would be "Beat The Forex Dealer". This is also about Forex but the stuff contained in it applies to Crypto aswell.
I can email them to you if you're interested?
They cost quite a lot to buy from what I remember, I think "Time Compression Trading" is like $50 on Amazon, so you'll save quite a bit if I send them over.
Let me know anyhow.
Any good trategy that i also know always failed because of the price of bitcoin that drops it price other altcoins also affected so i hate the way that bitcoin price going down.
An article on the buy area/sell area strategy I use will be out within the next week. This strategy works well when the price is moving sideways - as it was before the big drop - and when it's not trending, so take a look at that if you haven't much luck with your current strategy.
A new post on how to use Fibonacci retracements is now on the site.
Check it out if you're interested.
https://www.cryptotradingschoolonline.com/fibonacci-retracements-easy-to-convert-add-to-paid/