A possible bug ?Sorry for the somewhat long winded video, I just thought that it's way easier to show the problem than to deal with TradingView support, that just answered that my script compiles perfectly. Not very helpful.
The video is not long if anyone has any idea, let me know. I changed browsers, downloaded the standalone app same thing.
Thanks
Help
Trading Lesson 👨🏫#2 - Understanding Consolidations in CryptoIn today's lesson I will explain the difference in consolidations.
Some of you are new to the market and are probably wondering what's happening exactly when it's not moving in price and when it's moving down more than up but would later return to the last price it was.
Well to best answer that question.
It's called consolidation:
It's a thing that happens in the crypto market where waves of prices fluctuate up and down calculating the sells and buys of the market until it meets a point of exit - after consolidating the actual price of the market you're in, and only has two places it can go.
There are two types of consolidation.
The first is where it does a price correction where you have rapid 📉drops or rapid 📈rises.
An lastly is a repeated wave🏄🏼♀️ that can run in the same location for a few hours, sometimes days, give or take how many orders were made within the past few minutes - hours - days - weeks or months.
Consider it like a balloon🎈 being blown into until it 💥pops!💥
Now this is where the problem begins - we don't know where it may go once it's done, could go up or down and when that balloon has popped it's rapidly going there. We could see the 0.00002000 - range within a few hours or just see 0.00000900 range within a few minutes, depending on the orders made for shib and the rest of the market as a whole, this can last for days, weeks depending on the amount of buys or sells.
Also note these are when you get the same surprise jumps like we did in 2021. It started off from the 850's and jumped to the 0.00001300 within a day.
However; right behind it, is a price correction waiting for a peak in the returns to meet its end. Once that happens it'll just fall or rise back to where the price actually suppose to be and starting the process all over again.
You may not know it but there are all forms of consolidations on ever chart from 1 minute to 4 hours to 1 day to 12 months.
You're in a consolidation right now and you don't even know it. Like the ones that occur on a weekly chart, This is what I call "a Seasonal Trend" the day, week, or month, is in a seasonal consolidation and is trending high or low.
But note anything can stop a seasonal trend and disrupt the flow of it, but it will continue the process as long as the damage done was not to bad such as major crashes in a seasonal up trend due to outside interferences such as massive sell-offs, regardless it'll still attempt to rise back because it's in a wave that's trending up-word, if the wave was trending down then it would do way more damage than expected.
But the worst thing to do in a consolidation day - is to sell while it's consolidating, the price may not go no higher or no lower, and if you sell while at a low price in a consolidation you will likely lost position and will have to wait for it to finish to get more shares let alone the original shares, that's if it drops, so best to hold while in a consolidation day, at least until closing.
So I hope this answers anyone question as to why your crypto stock of choice is not moving anywhere, it may not move for hours or even days. you'll just have to wait for closing hour to see if it will pop - hopefully on a positive outcome.
So Happy Trading Everyone
HELP VICTIMS OF TURKEY EARTHQUAKE..OANDA:XAUUSD
Here's how to help the victims of the earthquake in Turkey:
You can send compatible tokens to the addresses in the link
below to Ahbap Organization's crypto wallets which the
Turkish government approved for donations.
CRYPTO ADDRESSES YOU CAN DONATE TO & TRACK:
crypto.ahbap.org
Alternative campaigns:
Turkish Red Crescent:
www.kizilay.org.tr
AFAD (Ministry of Interior Disaster and Emergency Management Presidency
en.afad.gov.tr
Comment:
AHBAP Accounts for International Bank Transfers:
ahbap.org
Turkish Red Crescent Accounts for International Bank and Credit Card Transfers:
www.kizilay.org.tr
Your Uniqueness in the MarketTake a look at this chart, or any chart of your choosing, and tell me what you see! Not just the technical terms and the direction of the market but explain what you are seeing, thinking and feeling as you read the market data from start to finish.
If you got the responses from twenty different people, you'd receive twenty different perspectives with twenty different interpretations. Some of them overlapping in their theories and explanations while others violently contradict and oppose each other. The beautiful thing about trading is that we all at one time or another are correct. "Correct" being that their was a legitimate opportunity to place a trade and make money based on your unique perspective of the information.
The difficult thing in trading is really understanding what we see and perceive in all of the market data. I want to emphasize... The difficult thing about trading is in truly understanding how we see and interpret market data in our own unique way. Some people see long, while others see short, and depending upon the system; on any particular trade, on any particular day, both sets of people are correct.
All systems have winners and losers, its an unavoidable fact. The acceptance of this fact will help you understand that you don't necessarily need to go searching for someone else's way of trading, you only to need gain a thorough understanding of how you view things. What resonates with you and your uniqueness? Maybe its moving averages and RSI, maybe its price action and support and resistance, or maybe its simply the day of the week at a specific time. When you start to unpack your way of making sense of the market you can find your unique way of operating in it.
If success in the market was primarily based on technical skills, and the use of tools, indicators, and spreadsheets. There would be a lot more profitable traders. Trading attracts some of the most brilliant minds, intellectual beasts, and academic rockstars, and yet over 90% of traders fail and are unsuccessful. You yourself, as you read this may realize you are a brilliant person yet you struggle to stay consistent with your trading. The answer to your problem is not solely in the technical skill, its likely hiding in the unexamined parts of your personality.
If you know this, then you also know that awareness and application are two totally different things. You can be aware that you have a personal problem with following a trading methodology but feel totally powerless in correcting it. My question to you would then be, how much time have you spent experiencing your own unique style of trading? Stop fighting your nature, and embrace your expression.
There are market fundamentals and market basics that every trader needs to understand.
Price Action
Structure
Trend
Risk
Beyond this your style of trading is likely a combination of many different skills that you've accumulated from various sources. The important thing for each trader is to understand which skills resonate most with them. Which skills fit your unique market perspective. Which skills can you use to build a system of trading that allows you to account for the mixture of wins and losses, while keeping you in an optimal mental space, so that you may execute on your level of understanding.
I think the challenge for every trader, is to take the time to identify a purpose in their trading. To understand why it is that you feel drawn to embark on such a challenging task. Those traders who stick with it, and generate some answers to these questions will have taken huge strides in understanding how the market serves as mirror. Reflecting back at you, the potential for you to fulfill your desires coupled with everything that you need to work on, and improve upon, on a very personal level.
If you don't come from a trading and investing background, either from family ties or academia, then all of this becomes even more important. Self- taught traders need to understand their uniqueness in the market. You are the most important part of your trading system. It would be crazy not to give yourself the time and attention you deserve.
Happy Trading!
I need help please...Hey guys...
I'm tying to back test a strategy that I think might be beneficial for me, and I use vertical lines to count how many times I have been back testing so far. But I wanted to know if someone could create an indicator or at least tell me if its possible for me to see how many vertical lines I placed so far without having to count all of them. I feel like this is the biggest reason why people don't back test because it takes quiet a long time to count and write everything down. So whoever helps me on this, is basically a hero in the entire tradingview community.
please somebody answer this as fast as possible thank you so much.
RSI Indicator & How To Use ItHello everyone, today, we´re gonna talk about an RSI and how to use it.
What is an RSI?
Basically, it´s an indicator that shows if the asset is overpriced or underpriced.
Basic information
RSI is 0-100
if the price is at 0-30, the asset is underpriced and theoretically it should go up.
if the price is at 70-100, the asset is overpriced and theoretically it should go down.
Professional information
You can set an MA based or RSI moves. And this is getting really interesting right now :)
Every time, the MA is touching bottoms or tops of RSI, it will go up or down (touch bottom = go up, touch top = go down.)
It works like an ball and floor. You just drop the ball on the floor and everytime the ball touches the floor, ball will just bounce and go up.
I drew it to the chart (green circles).
Okay guys, seems like we are in the end. Hope this helped you to make greater decisions and take good view at RSI.
Personally, I use RSI a lot and it´s really saving my a$$.
Thank you so much for reading my post, I´ll be really glad if you will hit that like button and follow me, so you can see other tutorials.
Have a nice rest of your day and stay safe.
Tommy.
Trading Divergences - An Alternate View for New TradersTrading divergences is a very common technical analysis strategy, but it comes with one big problem: the most common divergences (not hidden) trade against the trend. This means that new traders can often get into trouble by constantly looking for, and trading, against a dominant trend.
Here's an idea to help you become more profitable over the long-term: identify divergences on your chosen momentum indicator, but only trade on trend continuation signals. I'm not saying you need to do this forever, as once you're experienced you can trade both pullbacks and continuations - but doing so requires multiple layers of confirmation, and a lot of knowledge/planning/experience.
By trading trend continuation signals after divergences, you're stacking the odds in your favour by going with the dominant trend. You're also training your eye to see divergences, and seeing how the markets react to divergences. For new traders this can be a valuable lesson in the power of momentum in financial markets.
So, what are trend continuation signals? It depends on your chosen momentum indicator, so I can only provide general ideas; you need to adapt things according to what you're using. My chart contains a custom momentum indicator, loosely based on the RSI. However, it's far smoother than the RSI, so I can reliably trade precise signals (e.g. for me, a cross of 0). On the RSI, you may choose something a bit further down the scale, for example, a cross below Oversold (20/30). If you're using a Stochastic indicator, you may trade a cross below Overbought (70/80). If you don't understand why I'm suggesting you trade signals at the opposite end of the scale for RSI and Stochastic, let me know.
Hopefully this all makes sense, and remember that it's just an idea if you're a new trader and struggling to make good trades.
Let me know if you have any queries.
DD
HOW TO BUILD YOUR CONFIDENCE AS A TRADER (WIN BIG & LOSE SMALL)** In the video I say EURO / Swiss Pound. I think I meant to say Swiss FRANC ** :)
This video is meant to cover a really important topic that I think holds back most people from being successful in the markets. In this video I cover:
1) There's a difference between being a good analyst and being a good trader
2) How to empower yourself by learning to trust your analysis
3) 3 optimal trading environments and how top-down timeframe analysis lets us identify which environment we are in
If you find this video helpful, please leave a like and a comment!
Good luck out there and remember ALWAYS win BIG and lose SMALL :)