I'm a full-time crypto trader. Here're my recent trades & answers to questions

[Mark_R]

Often do margin trading XBTUSD.

BTC currently is in range, took 20x leverage. Btw, acting with leverage I consider 20x to be maximum.

The fact to acknowledge:
The bigger leverage does not always mean bigger profits.

P.S.  The amount of capital (including leverage) which should be invested in each trade to bring maximum profits was studied by Ralph Vince theory (Optimal F theory). Recommended to get known with!



Follow me on Twitter to keep up with the latest trades, get price analysis and other trading hints:
https://twitter.com/MarkRobTrades

Hey seems interesting.  Is it a particular book or thread?

Yes, he has several books, this theory can be found in Money Management Principles for Mechanical Traders by Ralph Vince

Also I suggest to get known with "Technical analysis by Lohn J. Myrphy
And one more is The Disciplined Trader: Developing Winning Attitudes by Mark Douglas

These books contributed a lot to my development

[Mark_R]

Some trend techniques explained of today's BTC trade.

Great thank you! Probably you have some techniques considering trend trading. Some ideas or so
Please share

Why you enter at a third touch?

Yes. Will make a post on that.

Third touch means a king of confidence in the ongoing trend. Btw, this is one of the important setups in trend trading

[Mark_R]

BTC again gives opportunities. Upwargs range. Closed at the support breakout.

[Mark_R]

I have a more regular question than others and it is not about trading at all, I mean it is about trading life style type of deal but not trading exactly. I am a person who earns bitcoins by working and I have earned enough to live so far and I am happy with it, you earn bitcoins in different ways but you do not work for somewhere and your full time job is trading so they are very close to each other in some aspects.

My question is, even though this has been the best work I have ever worked I still have nightmares about the potential doom if something goes bad since all my life is attached to this, what do you think you could do if something goes wrong, do you fear every single day that if something goes bad then your whole life will turn upside down? I mean how do you cope with that if you have those fears?

Hello!


It looks like you are reading my thoughts. I even wanted to start another thread considering traders lifestyle, as during these years I feel like my mindset was transformed a lot and specifically this help me to cope with stress and keep in control of the emotions (including that fear you are talking about). From my experience, to do such a job (rather consider it to be a business), some rules and principles are a must. This is really valuable as it brings lots of consistency and stability.

1) I plan in advance
2) Always comply with rules of RM
3) Wait for the best trades and favorable conditions
4) Reinvest earned money

These simple rules keep me hedged all the time and help me to overcome fears. As this way the trading is much more systemic

[pundit]

Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.

1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?

I forgot to mention I trade forex market.

Hello mate!
Thank you so much.  Guess it would not be difficult to switch from forex to crypto, the principles stay almost the same.
As for your questions,

1. Mostly BitMex & Binance
2. XBTUSD (=BTCUSD, that's how it is called on BitMex) - both futures and perpetual. ETHUSD (BitMex mostly). For a couple of month pay attention to BNBUSDT (Binance). These are the 'favorite' ones. But basically, I monitor several alts. For instance, TRON may have interesting turns in June.
3. SL and TP - it depends. As usually, consider:
-   Highs / lows, strong levels
-   Volatility
-   Volume
-   Pattern size

P.S.
Profit/loss ratio is recommended to be higher than 2:1
Personally I keen on trailing stops for a long time already.
Tbh, crypto in terms of SL/TP does not differ so much from forex/traditional markets.

4. Yes. E.g.: BitMex - up to 100x. Many types of orders and just comfortable in use (personal judge). Bitfinex - up to 33x. Low commissions.

Hope that would be helpful somehow. Feel free to ask more. Cheers!

Thanks Mark for the detailed answers to all my queries, its really appreciable. I have tried crypto trade on Binance but never tried it on Bitmex. Thanks for sharing your experience about Bitmex, I will definitely give it a try.
I agree to your point that basic principles of trading all the financial markets are same. Patience is needed to wait for the right trade. Chart patterns are same in all markets, you need to learn it.
Plus points of trading crytocurrencies over forex is, good profit can be made in crypto market w/o taking over margin trades, Cyrpto market is open 24*7 whereas forex market is open 24*5, deposits and withdrawals in crypto are automatic and faster than forex market.
Thanks again for sharing your experience of crypto trading.

[Mark_R]

Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.

1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?

I forgot to mention I trade forex market.

Hello mate!
Thank you so much.  Guess it would not be difficult to switch from forex to crypto, the principles stay almost the same.
As for your questions,

1. Mostly BitMex & Binance
2. XBTUSD (=BTCUSD, that's how it is called on BitMex) - both futures and perpetual. ETHUSD (BitMex mostly). For a couple of month pay attention to BNBUSDT (Binance). These are the 'favorite' ones. But basically, I monitor several alts. For instance, TRON may have interesting turns in June.
3. SL and TP - it depends. As usually, consider:
-   Highs / lows, strong levels
-   Volatility
-   Volume
-   Pattern size

P.S.
Profit/loss ratio is recommended to be higher than 2:1
Personally I keen on trailing stops for a long time already.
Tbh, crypto in terms of SL/TP does not differ so much from forex/traditional markets.

4. Yes. E.g.: BitMex - up to 100x. Many types of orders and just comfortable in use (personal judge). Bitfinex - up to 33x. Low commissions.

Hope that would be helpful somehow. Feel free to ask more. Cheers!

Thanks Mark for the detailed answers to all my queries, its really appreciable. I have tried crypto trade on Binance but never tried it on Bitmex. Thanks for sharing your experience about Bitmex, I will definitely give it a try.
I agree to your point that basic principles of trading all the financial markets are same. Patience is needed to wait for the right trade. Chart patterns are same in all markets, you need to learn it.
Plus points of trading crytocurrencies over forex is, good profit can be made in crypto market w/o taking over margin trades, Cyrpto market is open 24*7 whereas forex market is open 24*5, deposits and withdrawals in crypto are automatic and faster than forex market.
Thanks again for sharing your experience of crypto trading.

You are welcome!
Wish you good luck with all the trades strated and continued, would be gals to hear your opinion after some period of Bitmex trading.
And yeah, patience is a key. A couple of posts above I was writing about that exactly. Prioritizing to save funds first of all about patience. Daily profits are great, but long term profitability requires more complex things. Sometimes I feel that I'm ready to wait for years if I do not see a right moment.

[spike420211]

Which trading book do you think is the best? And which book would you recommend reading to a newbie?
What resources or video lessons would you recommend?
I am interested in the most difficult question - where to start.

[Mark_R]

Which trading book do you think is the best? And which book would you recommend reading to a newbie?
What resources or video lessons would you recommend?
I am interested in the most difficult question - where to start.

These are the books I consider a must for both newbies and even those who already have an experience. Actually you will find there everything you need. They are making up 3 core parts of trading (tech analysis, money and risk management, trader's mindset - this one should not be underestimeted, you will find there all the factors of possible losses)

TRADING BOOKS ADVICE

"Technical analysis" by Lohn J. Myrphy
"Money Management Principles for Mechanical Traders" by Ralph Vince
"The Disciplined Trader: Developing Winning Attitudes" by Mark Douglas
"Super Trader: Make Consistent Profits in Good and Bad Markets" by Van K. Tharp

You can also find something useful in trading on Twitter:
https://twitter.com/MarkRobTrades

Feel free to ask questions!

[Mark_R]

Some trend techniques explained of today's BTC trade.

Great thank you! Probably you have some techniques considering trend trading. Some ideas or so
Please share

Why you enter at a third touch?

Here are some general rules I apply during trend trading

1)   Take your time. Never try to make projections based on nothing. Wait the trend to start and jump in it. Never increase the position which would be opposite to the trend.
2)   Keep the balance between patience and speed. Wait for right moments and then act quickly.
3)   After you closed the position look for a new one. Do not forget to analyze.
4)   Pay attention to breakouts. Great moments to enter
5)   Look for the market carefully, using different timeframes. This way you see the whole picture
6)   It is better not to go “all in”. Use pyramid trading
7)   Having a trending market, try to catch the third touch of the trend. This way the movement would be confident

[Nellayar]

Tonight's pattern. Almost perfect one



Follow me on Twitter to keep up with the latest trades, get price analysis and other trading hints:
https://twitter.com/MarkRobTrades

Ops. It was surpassed already. Important update: bitcoin reached 9500 dollars already.

Does bitcoin continue to grow or it will become exhaust when it hits 10K dollars?
I hope there will be a good and strong support at 10K level so that, we can expect it to cross again the next resistance level. Cherish the moment guys!

[Mark_R]

Tonight's pattern. Almost perfect one



Follow me on Twitter to keep up with the latest trades, get price analysis and other trading hints:
https://twitter.com/MarkRobTrades

Ops. It was surpassed already. Important update: bitcoin reached 9500 dollars already.

Does bitcoin continue to grow or it will become exhaust when it hits 10K dollars?
I hope there will be a good and strong support at 10K level so that, we can expect it to cross again the next resistance level. Cherish the moment guys!

Yeah, that's the trade I've made before that rally
You're good at progections!

[Mark_R]

Long-awaited movement. Great weekend indeed! Was in $BTC long for some days, increased the position. Feel excited

[Mark_R]

ETH crossed 300 moving in a confident upwards range. Finally.

[buwaytress]

Question for you, and I know you're a trader and not an economist, but I actually seem to be hearing a lot from my circles about this, and they're all (at least claim to be) Bitcoin traders.

Do you side with the Modern Money Theorists (MMT) or the Austrian School Debate?

And does that affect how you trade or do underlying economic beliefs have nothing to do with your trading principles?

[Mark_R]

ETH price analysis
Hope for the best

[Mark_R]

Question for you, and I know you're a trader and not an economist, but I actually seem to be hearing a lot from my circles about this, and they're all (at least claim to be) Bitcoin traders.

Do you side with the Modern Money Theorists (MMT) or the Austrian School Debate?

And does that affect how you trade or do underlying economic beliefs have nothing to do with your trading principles?

Well, that’s quite an interesting question.
To tell the truth, I’m not really a theory man. I’m rather about practice, and my view of the market is built on understanding what is going on behind (people psychology, huge players, I feel the phases of the market and so on). That is why these theories are a bit far from by trades themselves. However, these theories are a good thing to think of and to broaden the mind. Sometimes it may help to understand the market, which is definitely used in trading (probably not directly)

As for MMT and Austrian theory, I’d say that they both these strike me as incomplete. MMT is rich in government management explanations, but still, lack some issues on the consumers’ behavior (like why they accumulate currency beyond their potential needs to extinguish tax obligations).
At the same time, Mises has not enough arguments about the governmental means to control the money.

Interesting ideas, but we need to think broader and combine. Imho

[Mark_R]

ETH is still indecisive. Here is a simple illustration of how to set stop-losses

[Mark_R]

Here is my trading performance for a couple of month. The major conclusion is that all this is possible. Just treat trading in a right way.

The trades and rules I use are here and in twitter https://twitter.com/MarkRobTrades

Cheers!

[Mark_R]

Long it!
Use rollbacks to increase the position.
Still in long, using trailing stop.

[redsun114]

Hey.  I'm Mark, a full time trader. I will publish here my usual trades and any trading stuff I find useful (e.g. price analysis). This is result of several years of experience and the hints shared by my friends working at hedge fund. I've never believed that trading can become such a solid income source, but it's all possible.  Probably the info being posted here will be useful for you and also will motivate me more to push myself beyond my limits.

Follow me on Twitter to keep up with the latest trades, get price analysis and other trading hints:
https://twitter.com/MarkRobTrades

It's funny how some people would think that day trading is easy because they see those are doing it full time and they now wants to jump on it and leave their office work to become a full time day trader. If you are one of those that are thinking such, maybe just because you saw ops post and you now think it is easy, stop thinking like that because this is a lot of work and if you're not careful you're going to be losing.

Day trading requires a lot of work before you can get perfect in it. So if you are considering to be a trader, i will advise you to first start it as part time job and see how much ypu can make from it, if you're okay, then you can start considering going full time into it.