Why Bitcoin won't drop from hereHello Traders and Investors,
My name is Philip and I am a German swing-trader with over 4 years of trading experience.
I only trade the higher timeframes, preferably the monthly chart, because this allows me to capitalize on the major market swings.
I view trading as a long term game over the next 20 years which will help me to build massive wealth - it is not a get rich quick scheme.
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Today I want to share with you my outlook on Bitcoin:
In the beginning of 2023 Bitcoin perfectly retested the previous cycle high of 2018 and already perfectly rejected this key structure level towards the upside. Since we had a cross support at the $17.000 level, there is a very low chance of Bitcoin breaking below this level at all.
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Most of the people always follow the quick money. But the quick money is never the big money.
They think that making 5% a month consistently is reasonable, which is one of the reasons why so many traders fail.
The only think which you can control is your risk, everything else is unknown.
Keep your long term vision!
Basictrading
Deciding Lot Sizes (My Method)A crucial decsion traders must make on each and every trade they take is lot sizes. What's the ideal lot size to take? What's the metric in which a trader uses to solve this ordeal?
Here's my method:
1.) Start off with a high lot size. Say....7 normal lots.
2.) At this point, when imagining trading with this lot size you should feel a sense of anxiety, nervousness or even excitement.
3.) Bring down the lot size by 1.
4.) At 6 lots ask yourself, "Do I still feel any sense of anxiety, nervousness or excitement? If you do, bring down the lot size by 1.
5.) Repeat this process until you don't feel any "slight" sense of anxiety, nervousness or excitement.
6.) Using the above mentioned process, if you reached 3 lots, further bring down the lot size by 1.
7.) The outcome is 2 normal lot sizes.
- Using this process to find the ideal lot size eliminates a host of unwanted phycological issues that can deter how you : analyze price, decide targets/stop loss, and how you manage an open trade.
- I've read and heard various methods over the years, but after close to 20 years of trading, this is the method I currently use.
That's it!
I hope it helps!
Ken
EUR/AUD Free Analysis with the BULLS! In this analysis I really dumbed it down for people to understand the basic concept of support and resistance/supply and demand. In this market currencies move in my experience what I would like to call a magnetized way. Banks on higher time frames buy and sell in on positions and these are the looks you want to be looking for! Targeting the areas where price has previously been to and following the trend! SIMPLE ANALYIS! Hope you guys enjoy this and lets see how she turns out? Any questions leave them down below! I love Currency Trading.
Sweat this one out with me (bites nails)New trader this will be my first Live trade that I will actually let it play out all the way based on what I have set from Stop loss and target Price. What I been finding lately is I second guess myself and kill the trade early because heads in wrong direction however for it to go in my correct direction shortly after when i'm no longer in the trade so legggoooo. Do yall deal with that too or is it easy for you ?
Using Relative Strength Index in crypto BNBUSDT In this chart I use the RSI (Relative Strength Index), as an indicator of crypto overselling or overbuying. It’s a indicator used in technical analysis.
In general, it helps to establish if the tittle has buying or selling pressure over the trading period. On the charts, trending line is between the upper and lower line. When the trend line cross them, it indicates overselling (lower) or overbought (upper).
Symmetrical Triangle in RCNBTC Huboi, from May 27th to June 1thDuring basic trading exercises, on patterns identification, I found a symmetrical triangle in RCNBTC Huboi, from May 27th 21:30 to June 1th 20:00. On the chart I drew the base from the peak to the base and the height of the triangle to the breakout point. Volatility and volume decreases with time.
Bullish Trendline in NANOUSD during March and April 2019During basic trading exercises I identified a bullish trendline in Nano vs Dollar, Crypto. It ocurred from March 25th to April 21th.
Using Bollinger Bands Indicator with HSY Created by John Bollinger, this three lines allow us to visualize a “security” zone, generated by the average of closing prices. Some traders believe that if the prices move to the upper line, means that those shares are overbought. If the line of prices move to the lower line, then the shares are oversold. Using Bollinger bands properly isn’t easy as that, why? Well, this indicator is supposed to be use as a trading system considering 22 rules, as his creator indicated.
As we can see, as the lines get squeezed, the shares have low volatility. As the bands move apart and the area between them is bigger, volatility increase.
Bearish Trendline in HAS (Hasbro Inc) during March 2019As an exercise of basic trading, I identified in HASBRO shares (last 3 months) a bearish trend line, specifically in March. The trend line is drawn from March 19th to March 22th. However, if you can see the charts for 1 year, you can see it's the lowest point after December in a bullish trend line.