I quit my job to do full-time crypto-trading. Made 12 BTC profit last month

[bitbunnny]

I'm not so convinced about that 12 Bitcoins just in one month. And even if you managed to make that much don't expect this will last and that you will be able to make such profit all the time.
To quit steady job because of Bitcoin is very risky decision and actually only rare traders can make for the living only with trading so don't get too much under influence of beginners luck.

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[royalfestus]

Will good luck for your new journey in trading. Quit your job if you are profitional trader already lets hope you wont regret your discision in the future because trading is realy deficult specialy in cryptocurrency its so volatile. For me i can do trading and working at the same time so that i have choices of income.

Committing 3-4 hours daily in cryptocurrency should be enough except for the so called day traders or involved in crypto project. Sometimes you might find it undeserving as the sole business with only trading. It keeps sedentary lifestyle and prone to eye defect with regular exposure to phones and laptop. Crypto is more lucrative with a long term plan

[Pipdips]

Mark, do you see alternate coins behaving much differently compared to Bitcoin?  I notice that you trade with some of the big alts like ETH and XRP.  Do those big Alts always seem to follow the price movements a few hours or days behind BTC's price actions?  Can you describe any behavior patterns like that between BTC and Alts, and how your trading pairs switch from trading BTC over to an alt, are there any dependable reasoning behind what makes you decide to switch pairs like that?  Are you spending equal amounts of time monitoring several cyrpto's every day, or do you mostly just concentrate on watching the price of BTC?

[AUruHM]

BEARISH ENGULFING

Shorted after a bearish reversal pattern

110 patterns reward



The pattern is broken down:

Oh, a quite interesting strategy with results. Have you any scripts on the TV platform to find such patterns? Or "handmade" only?
Do you use volumes in own analyses or candle&FA only? I'm interested in such methods of trading. But I try to view on the volumes also because TA is secondary, volumes and sales are primary as I think

[Mark_R]

Will good luck for your new journey in trading. Quit your job if you are profitional trader already lets hope you wont regret your discision in the future because trading is realy deficult specialy in cryptocurrency its so volatile. For me i can do trading and working at the same time so that i have choices of income.

Committing 3-4 hours daily in cryptocurrency should be enough except for the so called day traders or involved in crypto project. Sometimes you might find it undeserving as the sole business with only trading. It keeps sedentary lifestyle and prone to eye defect with regular exposure to phones and laptop. Crypto is more lucrative with a long term plan

It depends on your skills and ambitions. On your trading style also and capital under management. Everyone chooses this on your own.

[Mark_R]

Mark, do you see alternate coins behaving much differently compared to Bitcoin?  I nwaotice that you trade with some of the big alts like ETH and XRP.  Do those big Alts alys seem to follow the price movements a few hours or days behind BTC's price actions?  Can you describe any behavior patterns like that between BTC and Alts, and how your trading pairs switch from trading BTC over to an alt, are there any dependable reasoning behind what makes you decide to switch pairs like that? Are you spending equal amounts of time monitoring several cyrpto's every day, or do you mostly just concentrate on watching the price of BTC?

For many years there was a high level of correlation between BTC and the majority of alts.
Here is an example:


0.5 to 1: Strong positive relationship
0.3 to 0.5: Moderate positive relationship
0.1 to 0.3: Weak positive relationship
-0.1 to 0.1: No linear relationship
-0.1 to -0.3: Weak negative relationship
-0.3 to -0.5: Moderate negative relationship
-0.5 to -1.0: Strong negative relationship

To see the correlation I use historical data and  calculate calculate

Here is the resource I started with:
https://coinmetrics.io/correlation/

My major concentration is futures, mostly BTC. I'm not a fan of correlation strategies, but this works. Use it mostly with ETH and BTC
Other alts, if traded, are not to linked to BTC in my strategy

[Mark_R]

BEARISH ENGULFING

Shorted after a bearish reversal pattern

110 patterns reward



The pattern is broken down:

Oh, a quite interesting strategy with results. Have you any scripts on the TV platform to find such patterns? Or "handmade" only?
Do you use volumes in own analyses or candle&FA only? I'm interested in such methods of trading. But I try to view on the volumes also because TA is secondary, volumes and sales are primary as I think

Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched  to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an  interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.

[Mark_R]

The drop is not so impressive as previous year, anyway, we have what we have. The price is still moving in a range with the major bearish and bullish targets ($7600 and $8400 accordingly)

[Meowth05]

What a quite luck you got there buddy, but I guess you don't have to quit your job because luck is not always in your favors. All things have limitations.
I've only seen few traders who make it sustain their income after qutting their job. 12 btc is quite huge, enough to sustain your necessity for months or even years but not your entire life. Maybe it is better you make crypto-trading as a side job or what so if you hit another big shot then that would be good.

[AUruHM]

Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched  to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an  interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.

Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals.
Can you explain how you build your mention? 

[AicecreaME]

I'm not so convinced about that 12 Bitcoins just in one month. And even if you managed to make that much don't expect this will last and that you will be able to make such profit all the time.

It is possible, my friend just PMed yesterday and he said that he made 13BTC this month, well I am not surprise since he is dedicating most of his time in Trading, lot of efforts, not his wellness though, sometimes he missed eating in the right time, don't have enough sleep just to earn bitcoins in Trading. FYI, you could make profits in Trading anytime you want using the right analysis, and it last as long as you don't quit

To quit steady job because of Bitcoin is very risky decision and actually only rare traders can make for the living only with trading so don't get too much under influence of beginners luck.

No it is not, it is what you called "decisions" and "right choices" but it looks like you don't know any of it because you are a scared cat who is afraid of trying something new, who's mind only have "what ifs" all the time. If you think you could make more living in something, then grab it, it doesn't matter how old are you or if you do have a regular job, do what you wanted to do. Don't miss the chance to achieve your dreams faster. Trading 8 hours is much better than going to your regular job 8 hours a day and earn only minimum wage.

[Omega Weapon]

12 btc one user, 13 btc another guy..
Am I only one happy with 0,1 - 0,2 ?

I know it can be discouraging to see other uses making so much money when you are not making anything close to that, but while I have no doubts that there are many talented traders out there the truth is that many of those that got huge profits took also huge risks to get that kind of money and you are only concentrating yourself in those that were successful and you are not looking at all the people that lost everything that they had by investing in the wrong coin.

[Pipdips]

Mark, when did you start margin trading? Did you tip toe into margin trading or did you just jump right in?

[royalfestus]

12 btc one user, 13 btc another guy..
Am I only one happy with 0,1 - 0,2 ?

with little luck , and hard working , you will earn 0.24 btc .. but be careful ... 1 little mistake ( if you have the bad luck ) and your out from your bounty

He cant be doing that will all his fund at time that will be big risk, beside he could have some loses at some project. You cant be too smart except you got involved in a scam

[jmigdlc99]

12 btc one user, 13 btc another guy..
Am I only one happy with 0,1 - 0,2 ?

Ha! I thought i was the only one happy with 0.01 and 0.02.

Goes to show how one man's trash is another's happiness, even in crypto. Really interesting back read right here, it's almost inspiring to see how much you can earn as long as you know what you're doing. I'm probably gonna go read some of those trading books my friends gave me.

[Mark_R]

The time will show how Bakkt is. The 75x difference comparing to CME volumes is not necessarily a failure.  

Growing competition between the derivatives platforms is driving the industry.

[Mark_R]

Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched  to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an  interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.

Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals.
Can you explain how you build your mention? 

I can write you in direct so as not to look like an advertizing page 

[AUruHM]

Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched  to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an  interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.

Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals.
Can you explain how you build your mention? 

I can write you in direct so as not to look like an advertizing page 

I don't think that in such a specific topic it can be viewed as ads. But if you write I'll be glad. Today services with real volumes are so rare. Do you use VSA principals? Or own 'handmade' experience? Some studies or lifehacks? 

[man22555]

That's some really nice profit you are making constantly there! Good job. Keep up the good work!

[Mark_R]

Before I used to trade everuthing. Tried TV strategies, plenty of indicators. But after some years I switched  to "handmade" things that are coming from experience. The strategies are customized for the capital sum and personal preferences.
The strategy includes TA and volumes, this is a kind of combination to pay the attention to all its integral parts.
If I see an  interesting idea somewhere, I test it for some time (including historical data) looking how it works in my personal case.

Is this secret which service you use for volume analyses? Because of TV indicators or CMC shouldn't give any good-for-use stats. I'm interested because I try to trade more. And I understood that only full immersion can give an acceptable result. That's why I learn working methods and principals.
Can you explain how you build your mention?  

I can write you in direct so as not to look like an advertizing page  

I don't think that in such a specific topic it can be viewed as ads. But if you write I'll be glad. Today services with real volumes are so rare. Do you use VSA principals? Or own 'handmade' experience? Some studies or lifehacks?  

Well, tend to agree.
https://volfix.net  - use this for pretty long time already.

Yeah! VSA principal are great to be comnbined actually with plenty of strategies. Handmade experience is of course, during many years you cannot avoid this. I'm trading the last time lots by price action, a broad topic that is explained in a very appropriate manner by Larry Williams, familiar with this?

Besides, as I've aready wrote here there os a list of the books I consider to be extremely useful in trading

Books:
"Behavior of Prices on Wall Street"
Toby Crabel:
“Day Trading With Short Term Price Patterns and Open Range Breakout"
Murphy, John J.:
“Technical Analysis of the Futures Markets” - MUST (charts, candles, basics...).
Also try
Edwards and Magee Boston:
"Technical Analysis of Stock Trends"
Wilder, J. Welles.:
“New Concepts in Technical Trading Systems”
Dr. Elder.:
“Trading for a living”
Larry Williams:
“Long-Term Secrets to Short-Term Trading”