Let us all together develop a Price Action Trading System for Bitcoin

[New.in.trading]

HEy! Finally another trade!

Check this BtcUsd Trade out, and lets see how it goes:

https://www.tradingview.com/x/JLGPKfau/

[beerlover]

I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

I honestly do not believe that bunch of strangers online could get together and agree on something. The main feeling of internet is that many people get together and even if we get together as 100 people, there will be at least one that will go against what everyone else says even if only to get more attention and few of those 99 people will try to persuade why they are right and that one person is wrong but 90+ of those people will just ignore and that is when the troll will get a lot more dangerous and start talking about how he is right.

This is why we should not try to get together and build something, instead anyone who wants to should go ahead and build something and share it with the world and ask what is wrong with it, if there is anything wrong with it then they will just fix that which would be a better way to do it if you ask me.

[rahmatrf331]

Hey peeps,
I just recently kind of stumbled over a thing, I want to test in the long run.

I will start with the basics today and post a thing every other day. Every constructive cirtisim/info on how to maybe improve this technique, is highly welcome!

Lets get started then:

Most important
I need a trend. In ranges this thing will not work. Or give ... suboptimal results.

So, if there is an Uptrend, I basically wait for price to retrace. Once price forms a low, I will then draw an area around the bearish candle with the lowest low. What I have seen many times, is that the following then happens:

-Price leaves that area
-Price comes back into that area
-Price leaves again and continues its way

So far, all I can say that it works best on the H4 chart, but its worth to combine the H4 areas with some M30 areas, drawn the same way.

Have a visual reference here:



I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

So... Hit me with your thoughts!

Thank you for the information, I see that the H4 chart that you published is very helpful in combining the H4 area with several M30 areas together.
I hope this will be the same basic concept in creating a trading strategy that is significantly robust.
is there a secret published by the communites in building trade principles?

[New.in.trading]

I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

I honestly do not believe that bunch of strangers online could get together and agree on something. The main feeling of internet is that many people get together and even if we get together as 100 people, there will be at least one that will go against what everyone else says even if only to get more attention and few of those 99 people will try to persuade why they are right and that one person is wrong but 90+ of those people will just ignore and that is when the troll will get a lot more dangerous and start talking about how he is right.

This is why we should not try to get together and build something, instead anyone who wants to should go ahead and build something and share it with the world and ask what is wrong with it, if there is anything wrong with it then they will just fix that which would be a better way to do it if you ask me.

Thank you for your view! I get your point and believe me, I know what you are saying about trolls and working together with strangers in the internet is... not always the best possible idea. Still I think whoever wants to to add something, can add it. Who wants to take this basic thing and implement it, in what he/she/it is doing, can do so. If someone has some constructive critics for me, I will take it. If its only destructive rubbish, well then... so be it. Me personally I take this this as an opportunity, to maybe find a cool thing that works, and take it to another level. This way, at the end of this thread theres either a clear statement that this experiment failed terribly, or that it worked out great and therefore who ever reads through it, can then learn it step by step.

Long story short: I believe there are good and cool ppl out there, willing to share helpful views. If now -> so be it. I will still walk this way, either to success or to failure.

[New.in.trading]

Hey peeps,
I just recently kind of stumbled over a thing, I want to test in the long run.

I will start with the basics today and post a thing every other day. Every constructive cirtisim/info on how to maybe improve this technique, is highly welcome!

Lets get started then:

Most important
I need a trend. In ranges this thing will not work. Or give ... suboptimal results.

So, if there is an Uptrend, I basically wait for price to retrace. Once price forms a low, I will then draw an area around the bearish candle with the lowest low. What I have seen many times, is that the following then happens:

-Price leaves that area
-Price comes back into that area
-Price leaves again and continues its way

So... Hit me with your thoughts!

Thank you for the information, I see that the H4 chart that you published is very helpful in combining the H4 area with several M30 areas together.
I hope this will be the same basic concept in creating a trading strategy that is significantly robust.
is there a secret published by the communites in building trade principles?

Thank you for your question!

Yes it makes sense, to apply the H4 pricniple to the M30 but only after the H4 has an valid entry! Its like in chess, where you need a strong figure covering a weaker one. So the H4 would be a rook, or the queen, where as the m30 is a Bishop or Knight and the M5 is a only a Pawn. So make sure your Bishops/Knights are covered by the queen or a rook (meaning: wait for the H4 to give an entry, and then wait for the M30 give an entry. This way you can use the H4 Target, and the M30 stop, what changes the RR significally!)

I am not sure I understand your question:
is there a secret published by the communites in building trade principles? could you rephrase that?

[New.in.trading]

Hi friends, how are you doing?
check this post, [urlhttps://bitcointalk.org/index.php?topic=5327294.msg56938861#msg56938861]#41[/url] to see the original setup, and the trade when it "developed" and then see what happened:


same image, only working:


So in this case, price went to our favour. I will now (afterwards) go down to M30 and look if I can find a better entry, so next time I might take the entry in the lower timeframe.

[New.in.trading]

Lets see what could have happened in the M30... Remember, the approach is always the same, as posted in the original post!

I did a visualisation on the chart. In case there are any questions, feel free to ask them!

[New.in.trading]

Coming up next:
Another Trade!

Lets see if btcusd closes inside the H4 bulls territory, and then leaves it again to close outside. In this case, I will try another long trade and then look in the M30 for more options, just as in the example above.

Here is the current situation:

[New.in.trading]

Not much to say today, BtcUsd has not yet reacted the way I need it, to get an entry.

[Ararbermas]

That's actually what always happen before i draw a order.. Wherein i dont really need a sort of fluctuations that showing a support line and you need to mark the target as soon as possible while its still at the support level.. Nope that kind of technique above is the most useful in my opinion (from OP) . And in fact i'm not actually basing on the tools or indicators, because sometimes i always use that strategy above because of some thoughts, such what if its goes more something like that bla bla bla. . So on that way you can't make any doubts  at all because if it reach your target then it's good because it will increase after as its at the support level and while its still inside of the bolinger, and indeed you can make profits afterwards, If not then it still good because you are in a safe place wherein no worries and you still have plenty of time to mark the next target again.

[New.in.trading]

That's actually what always happen before i draw a order.. Wherein i dont really need a sort of fluctuations that showing a support line and you need to mark the target as soon as possible while its still at the support level.. Nope that kind of technique above is the most useful in my opinion (from OP) . And in fact i'm not actually basing on the tools or indicators, because sometimes i always use that strategy above because of some thoughts, such what if its goes more something like that bla bla bla. . So on that way you can't make any doubts  at all because if it reach your target then it's good because it will increase after as its at the support level and while its still inside of the bolinger, and indeed you can make profits afterwards, If not then it still good because you are in a safe place wherein no worries and you still have plenty of time to mark the next target again.

Thank you for sharing your thoughts! I try to not use any indicators at all. Nothing wrong with indicators, just not my cup of tea. Indicators basically highlight information that is on the screen already, so who wants to use them, its okay.

What I like about that setup is: You have some specifics to happen, before even considering an entry. And mostly its enough to look at a chart every 4 hours. that is the most relaxed way of trading, imho. No stress involved.

[New.in.trading]

BtcUsd could not manage to turn inside that H4 bull area, instead it smashed that level. So now I expect 1 of 2 things to happen:
1 Price makes a Lower High, creating a new Bear Territory
2 Price rallies up to the most current and untested Bear Territory, and gives a short entry there

Lets see what we get. Option 3 is of course, price breaks the Bear territory and goes long, without giving an entry.

[New.in.trading]

BTCUSD Price no did something really unpleasent and formed a Bear area on top of a bull area. As it broke the prev bull area, my bias is bearish, but right now, with 2 areas on each other like this... I am staying away from it, in order to protect my capital.

[New.in.trading]

So, lets see what BTCUSD did over the weekend It seems that this Trend-Based strategy really gives good entries, at least at times. That is the main issue for me: The number of entries. Few entries only but most of them are good. And if there is a confirmation in the H4, its worth to wait for the M30 trade, for a higher probability. Best is, to be in both, the H4 and the M30 trade(s), to make the most of it.

The bull area from the H4 did not succeed, as price is in a downtrend, it makes more sense to look for sells anyways. This is what happened, and this tought me a lesson. As long as Bear Territorys are respected, the trend is down, and therefore the bull Territorys are only there to be observed, not to be traded (Trade what yo see, not what you think).

H4:

And then the options the market gave in the M30, only looking at sell options:


this time, there wer only 2 trades, 1 win 1 loss, in total +1 R what is... okay... not good for the amount that BtcUsd moved, but it were safe options. then there was that H4 Trade, with 2,29 RR what was good, so in total around 3.3 RR for 3 trades. Could have been worse, tbh. Could have been better as well...

[STT]

Theres no absolute rules, they already have computers tracking and trying these methods constantly anyway as it requires alot of time and effort watching invested to pay off.   I would first suggest people go use Tone Vays chart software which gives a clear red or green arrow at turning point, that does cost 1000 to gain entry though.

[New.in.trading]

Theres no absolute rules, they already have computers tracking and trying these methods constantly anyway as it requires alot of time and effort watching invested to pay off.   I would first suggest people go use Tone Vays chart software which gives a clear red or green arrow at turning point, that does cost 1000 to gain entry though.

So you are saying "Buy an indicator and get rich"? Or did I miss something? Well... What is "requiring a lot of effort and watching" for you, is "relaxed trading, using alerts" for me. Its always a matter of perspective. I will check out that charting software though. There is always something, one can learn. And not even looking at something, would be very ignorant, so I will check it out

[New.in.trading]

So, coming from yesterday, we are still in a downtrend, until that H4 Bear Territory is broken. That means, in the M30 I am looking for sells only. There was one trade yesterday, and anotherone right now. lets see what BtcUsd is up to...

[New.in.trading]

another 2 RR added from this trade:

Lets sum it up again:
we have +4,3 R so far from that last H4 bear territory. Not to bad, I guess. Not the best, but 4R can be a lot, depending on your Risk appetite. Maybe I will start a more detailed list or anything, to keep the record more clean.

Me personally, I like that way of "slow" trading. As long as it is constantly profitable, it can grow healthy. and that is what it is all about.

[New.in.trading]

I gotta say, the more I observe this whole thing, the more I fall in love with it on BtcUsd! There are times, where there are barely trades. and then there is the last couple days. We can add some more to yesterdays 4,3 RR ;-) There was another sell win, with a 1.58 RR and another 1RR is running atm, so we have banked 5,88RR in theory, and will end with either 6,88 RR or 4,88 RR. Both are good results, imho.

[New.in.trading]

I gotta say... If I would have been in that btcusd Trade, and if I would have left a runner... So many if's there...

Anyway, lets keep looking at facts: with whatever it is I am doing there, the past few days were very good trades! I did not take any of them, as I am still checking the performance. Unitl now, I love it! I would have another Sell Entry just a few hours ago, find it in the pic below:



I gotta Add, the SL should be above 41154 I did that wrong on that Screenshot.

Jus for the record, I am at a win of 6.88 RR atm, in theory.

Happy Pips then!