Lessons for the year and into 2022
Over the last year I have spent a lot of time on TradingView writing up educational content, I have tried to apply drawings to my charts to express some lessons in simple yet easy to follow and understand walkthroughs.
Here's a chronology regardless of your experience and level.
Let's start with Psychology - this is the life and soul of the market, if humans where not so predictable then we would have a completely different looking chart. Humans spot patterns - even when they are not there. We try and assume, we get greedy, fearful and often just outright stupid. Entering trades at wrong times, listening to fake guru's and not doing the work ourselves. When you understand the emotional aspect of trading, your already 50% of the way to becoming a successful trader!
In this post (click the images for each individual post) - you will see how the basic emotions work at various aspects of the chart.
In a more simplistic form I broke the market phases down in relation to the post above, this time using the Simpsons as the best way to let traders relate to such phases;
Homer is brilliant!
Again - once you understand some of the basic psychology you can start to create a framework around investing, it will help build a plan. In this next post I wrote about the reasons why people get into crypto - the thrill of the ride, the desire to make it.
Once you got a feel for what it is your looking to do and you are wanting to play in the crypto sphere - here's a post that will help you on assessing an alt coin, the process of going through your own due diligence rather than listening to a youtube guru. A lot of what you need to know when searching for the next big thing, is already written in the business itself - this will include everything from the founders, the plan, money raised and so on.
Ok so let's step over to some of the technical aspects of trading;
Here's a post on the simple trendline - for you experienced traders jump this and the next Moving average post.
From trendlines to Moving Averages;
These kinds of tools coupled with some basic off the shelf indicators will get you going on your your journey - but you have to remember over 70% of retail traders lose money. There's even an industry quote that states 90% of new traders lose 90% of their account in 90 days. When everyone is using the same Moving averages, MACD and RSI - all it does is lends itself to the type of emotional analysis mentioned in the psychology section. So trade carefully.
ALWAYS deploy proper risk management and do your own due diligence.
Here's the basic on using the MACD if you do want to use it along with the 50 and 200 Moving Averages ;-)
All new traders want to buy the dip! But how; well here's a little advice on that too.
This is where it get's interesting;
Going back over 100 years there was a cluster of hyper intelligent traders, these techniques are still widely used today and just as relevant in crypto as they where for commodities and stocks when they where first introduced.
Here's the introduction;
Personally I feel these guys where not technical analysts but emotional analysts - they understood various aspects of why the charts do what they do, why the human mindset drives the target levels, the patterns are created and so on.
From here we can cover the technical viewpoint;
Here is an intro to Dow theory...
Elliott waves;
And even Wyckoff;
It was this post that many of you know me for - this was the method used in March to call the incoming top for Bitcoins first major move down.
However, the greatest tool of all for doing any kind of Technical Analysis is likely to be Fibonacci;
A very old technique and amazing to see the levels get tagged each step of the way, this can be applied to various other strategies and techniques.
The whole crypto space is filled with rubbish advice, scams and people claiming to make money. The truth is, like every other trading instrument - it's a dog eat dog world and you need to be able to take care of yourself. I wrote this article explaining why common sense is not that common anymore - logic seems to go out of the window when it comes to crypto. So please keep a level head.
Life ain't linear - Yes this is a drawing; took AGES!!!
I've tried to cover as much useful info for the TradingView community as possible throughout the year. Here's another couple of posts that you might find interesting;
Do you know what is going on, inside the candle?
Chart patterns?
Even covered the art of the Pivot Point.
What don't you know about dark pools?
Or the difference in Volume profiles?
Or even if your interested in making your own indicators?
And to finish with on the technical side- Here's a couple of good books to get you going into 2022!
If you haven't followed me throughout the year and seeing this for the first time - here's every swing & supporting logic for the Bitcoin move throughout the year.
And to finish with NFT's and the METAVERSE.
and this one;
Hope you have had a great 2021! 2022 will be even better! Have a great NEW YEAR's eve and see you on the other side!!!
Feel free to give me a follow here and comments always welcome!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Here's a chronology regardless of your experience and level.
Let's start with Psychology - this is the life and soul of the market, if humans where not so predictable then we would have a completely different looking chart. Humans spot patterns - even when they are not there. We try and assume, we get greedy, fearful and often just outright stupid. Entering trades at wrong times, listening to fake guru's and not doing the work ourselves. When you understand the emotional aspect of trading, your already 50% of the way to becoming a successful trader!
In this post (click the images for each individual post) - you will see how the basic emotions work at various aspects of the chart.
In a more simplistic form I broke the market phases down in relation to the post above, this time using the Simpsons as the best way to let traders relate to such phases;
Homer is brilliant!
Again - once you understand some of the basic psychology you can start to create a framework around investing, it will help build a plan. In this next post I wrote about the reasons why people get into crypto - the thrill of the ride, the desire to make it.
Once you got a feel for what it is your looking to do and you are wanting to play in the crypto sphere - here's a post that will help you on assessing an alt coin, the process of going through your own due diligence rather than listening to a youtube guru. A lot of what you need to know when searching for the next big thing, is already written in the business itself - this will include everything from the founders, the plan, money raised and so on.
Ok so let's step over to some of the technical aspects of trading;
Here's a post on the simple trendline - for you experienced traders jump this and the next Moving average post.
From trendlines to Moving Averages;
These kinds of tools coupled with some basic off the shelf indicators will get you going on your your journey - but you have to remember over 70% of retail traders lose money. There's even an industry quote that states 90% of new traders lose 90% of their account in 90 days. When everyone is using the same Moving averages, MACD and RSI - all it does is lends itself to the type of emotional analysis mentioned in the psychology section. So trade carefully.
ALWAYS deploy proper risk management and do your own due diligence.
Here's the basic on using the MACD if you do want to use it along with the 50 and 200 Moving Averages ;-)
All new traders want to buy the dip! But how; well here's a little advice on that too.
This is where it get's interesting;
Going back over 100 years there was a cluster of hyper intelligent traders, these techniques are still widely used today and just as relevant in crypto as they where for commodities and stocks when they where first introduced.
Here's the introduction;
Personally I feel these guys where not technical analysts but emotional analysts - they understood various aspects of why the charts do what they do, why the human mindset drives the target levels, the patterns are created and so on.
From here we can cover the technical viewpoint;
Here is an intro to Dow theory...
Elliott waves;
And even Wyckoff;
It was this post that many of you know me for - this was the method used in March to call the incoming top for Bitcoins first major move down.
However, the greatest tool of all for doing any kind of Technical Analysis is likely to be Fibonacci;
A very old technique and amazing to see the levels get tagged each step of the way, this can be applied to various other strategies and techniques.
The whole crypto space is filled with rubbish advice, scams and people claiming to make money. The truth is, like every other trading instrument - it's a dog eat dog world and you need to be able to take care of yourself. I wrote this article explaining why common sense is not that common anymore - logic seems to go out of the window when it comes to crypto. So please keep a level head.
Life ain't linear - Yes this is a drawing; took AGES!!!
I've tried to cover as much useful info for the TradingView community as possible throughout the year. Here's another couple of posts that you might find interesting;
Do you know what is going on, inside the candle?
Chart patterns?
Even covered the art of the Pivot Point.
What don't you know about dark pools?
Or the difference in Volume profiles?
Or even if your interested in making your own indicators?
And to finish with on the technical side- Here's a couple of good books to get you going into 2022!
If you haven't followed me throughout the year and seeing this for the first time - here's every swing & supporting logic for the Bitcoin move throughout the year.
And to finish with NFT's and the METAVERSE.
and this one;
Hope you have had a great 2021! 2022 will be even better! Have a great NEW YEAR's eve and see you on the other side!!!
Feel free to give me a follow here and comments always welcome!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.