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The Truth About Trading - how long to be profitable?Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a job, and a hard one at that. The markets offer the highest paid profession in the world - and it is the hardest profession. There are no set paths, clear schooling or achievements which put you into a position of earning a living. This is an entirely different world. It is you and the market. You are responsible for the actions you make, and the repercussions or rewards which come with those actions. It takes a lot of time and effort on your part if you truly want to succeed long term in the markets. This does not just mean learning about the markets and how they operate. It also requires skills that no other job does - understanding and working on yourself internally. Remain Humble - We all know of someone who brags about their position, their entry price or whatever. But there is something they likely do not have.. Profits. Ever wonder why the top traders dont brag or choose to talk about a position or how much they make? Because they are humble. If you do not remain humble when it comes to markets, they will humble you. If you are attached to your Ego, you will fail in the market, without question. The only question is how long will you survive? How long does it take to be a Profitable Trader? Every beginner wants to know how long it will take before they can make a profit. This is a loaded question - with no answer. I am often asked how long until you knew you had it? Or how long does it take to become a profitable trader? People are confused by my answer when I say "you never have it, or anything." Even wildly profitable traders lose money, sometimes all of their money several times. Trading is not about getting something, or somewhere. It is a journey, a dance. Do you dance or play the guitar to get to the end of the dance or end of the song? No, otherwise you would play or dance really fast! (Alan Watts). You play to play. You trade because you enjoy the act of trading. In other words the act of doing is the goal, not the end result. The market is a teacher who teaches you about your self. If you chose to ignore it and instead focus on what you want out of it; you probably wont get it. If instead you open yourself up, give in to it and what it is showing you; you just might get what you want. If you found this helpful please like! Feel free to comment or ask questions.
BITSTAMP:BTCUSD
by tradersmentality
4
SELL 4H USD/CHF - BEGINNER TRADER, LOOKING FOR ADVICES Hi Guys, this is my first idea that I publish. Brief story of me: Studying trading since 3 months ago, no experience, no help, no courses, just me, youtube tutorials and books. I'm looking for recommendations to improve my trading, my analysis and my overall trading experience. Thank you so much to anyone that likes or comments my idea. Feel free to give your opinion and your advices, everything is more than welcome. As we can see in this set-up, I highlighted all the reasons why I think there is gonna be a downward trend in the next days whether the main trend line gets broken. Thank you all, feel free to ask questions.
Short
by One_Shot_One_Kill
1
STR/BTC Beginning to looks bullishGreen FIbonacci retracement from past recent lowest point on weekly chart Yellow Fibonacci retracement from recent high and recent low on daily chart White Fibonacci retracement from recent low and recent high on 1 & 4 hour chart - MACD selling pressure cannot manage to continue for a while and creating a lower low instead since may 2019. - EMA lines begin to converging with each other with a possible golden cross in near future.. - CMF is creeping upward into bullish territores.. - yellow line represent possible movement within ascending triangle, surely if the price could bouncing around 0.236 and 0.386 yellow fib for a long time could create a bullish flag if still bullish in near future. right now it's testing 200 EMA line as a support in 4 hour.. if candle closes above 1900(50EMA in daily) is very bullish trends await. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
S
by MisterCatt
XRP/BTC Outlook and Potential Similar past Fractals Movement Green Fibonacci retracement from past recent lowest point on weekly chart Yellow Fibonacci retracement from recent high and recent low on daily chart White Fibonacci retracement from recent low and recent high on 1 & 4 hour chart After being Rejected by 200 EMA in 4 hour timeframe. now it's trapped between 20 and 50 EMA testing the support at 50 EMA. a 'potential' descending triangle sighted in short term which can be change it's validity quickly if the price action didnt following the pattern's consequence. Indicators looks like the selling pressure can still continue in MACD From CMF already touch 0 which will be determent whether it can bounce from it or plunge into bearish trends As for Fractals.. there's a similarity movement in this area i tag on August - September 2018 could repeat again. The price did pass 20 EMA and almost touch 50 EMA but goes down into the bottom of the price 4000 satoshi. in recent movement it did pass 20 EMA line but also, almost touch 50 EMA.. would it be a fractal and will be repeated with a same pattern like August - september 2018 ? we will see.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
by MisterCatt
BTC/USD on a Tight Range and possible Cute H&S..Update from my previous chart about BTC/USD After a massive sell-of. price action go back up between 50 EMA line and 20 EMA still showing it's bullish strenght on CMF... After double top pattern plays out.. is the next will be a potential H&S also?? it must break 7600 in-order to break that pattern.. if it cant break it.. might be testing 200 EMA area.. around $ 5700 ttps://www.tradingview.com/x/UGc30DPX/ looks cute though.. hahaha.. we will see.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BITSTAMP:BTCUSD
by MisterCatt
BCN/BTC high gain with high risk from indicators MACD is still can continue it's momentum it's trend to downside but it can changed dramatically as this coin is just a small marketcap. RSI is already on lowest level for 2019 resistance #1 15 satoshi (20 ema) resistance #2 16 satoshi (50ema) reistance #3 20 satoshi (200ema) somehow the spike its often happen during downfall or while btc dominance on the bottom. for me personally wait for the 17 may 2019 hardfork. what would happen that day? let's find out together... twitter.com keep in mind this coin quite hold alot of gain and risk as 29 november 2014 price drop into 1 satoshi before they 29x 1 year later .. i will try my luck with small stack in this coin as it's already alt season but this coin still in dormant on lowest price in 2019. BCN BTC dominance please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BLong
by MisterCatt
2
BTC Dominance update from April 06 into May 12, from 53 % into 63 % is the top for BTC dominance After testing the 63% resistance it get rejected pretty bad. MACD looks like it start to weaker and parabolic sar is already give a one red dot above the price. which trend already start to shifting. though it's not so clear for me until the candle close more lower than previous candle. for now it's hovering around 60.36%. also an interesting news that will involved the volume of crypto for today is regarding Binance will open it's withdrawal and deposit back.. could it be a sell off alt and btc into fiat after the majority of price pump ? are this event will delay altcoin season or vice versa ? let see what will happen when the binance open up it's gate. twitter.com please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
CRYPTOCAP:BTC.D
by MisterCatt
ETH/USD Resistance & Support Update from my () about ETH/USD play out the descending triangle pattern so well. After broke 200 usd (200EMA) price resistance it's now hovering around 230 usd near a potential #1 resistance. Support #1 (200 EMA, 50 EMA, 20 EMA) = +-$200 , if it broke down this support would be very bearish for ETH Resistance #1 : +- $240 based on fibonnaci retracement and past time support and resistance Resistance #2 : +- $300 , based on previous consolidation of price action in the past time Indicators : From CMF, MACD, OBV, RSI, Parabolic Sar Parabolic Sar it's good indicator to see a current trend in larger scale time frame. so far, It's looking bullish in weekly time frame. Daily CMF, MACD, Parabolic Sar Volume is looking good,, CMF and MACD still have fuel to test next resistance. keep in mind the Parabolic Sar looks parabolic which is prone for price action to switch it's trend or should i said a retracement is near if the price action show weakness. Daily OBV, RSI, EMA So for for the RSI is making a higher high and lower low which is great however there a possibility the retracement in the near future, OBV is spiking up which is great to know there's new money flow into this market, From EMAs line is indicate a golden cross happening (20 EMA and 200 EMA) and will made a second golden cross (50 EMA and 200 EMA) which confirmation of price is already confirm a bulltrend more solid.
BITSTAMP:ETHUSDLong
by MisterCatt
BTC/USD Parabolic Run and potential upcoming resistance So far it's very bullish after btc/usd just breach 6700 area.. while it's price action rapidly going up it creating some kind of parabolic run up, sudden increased demand for btc and it still continue for now. which is creating a higher stake unto a potential bear trap or harsher retracement if the price action showing it's weakness. It's interesting when btc price action move crossing parabolic curve line .. 2015 2016-2017 2018 resistance #1 : 8400 based on past consolidation and past top price action Resistance #2 : 9500 based on fibonnaci retracement past consolidation and past top price action Support #1 : 7300 based on past consolidation and past top price action Support #2 : 6700 based on fibonnaci retracement past consolidation and past top price action Indicator MACD, OBV and CMF still continue it's Bullish trend while there's a slight bearish divergence between some indicators and price action for now. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BITSTAMP:BTCUSD
by MisterCatt
1
ETH/USD High Possibility to go upETH/USD is in ascending triangle area and the price action did break the triangle and 200 EMA.. now it's start to descend into 200 EMA for a last change buy opportunity in my opinion.. higher high and higher low and it's currently test a support for 200 EMA until it's momentum to upside is gathered. Also 20 and 50 EMA is ready to cross 200 EMA to create a golden cross which will happen within this month. from indicators Macd is looking great and still building its buyer momentum RSI is currently above neutral zone which is bullish but still in progress in retracement CMF is still below 0 and it's still in retracement mode in any change trend can turn into bearish quickly if if the price drop below 200 EMA ($175) 20 EMA ($168) 50 EMA ($150 ).. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BITSTAMP:ETHUSDLong
by MisterCatt
Steem/BTC into the Unknown TerritoriesUpdate from my previous steem/btc chart regarding the giant descending triangle pattern.. look like it broke the support and the price keep going down. price below the EMAs line parabolic sar in bearish trend Indicators CMF is in bearish zone macd is interestingly show a low volume despite the price is drop and a clear bullish divergence is sighted rsi is bearish zone and oversold in history in steem/btc price in poloniex atleast i really dont know when it's going support going to be as i cant measure the support using the top of descending triangle as the price will be below 0 satoshi and since this is a low capital coin ( $ 100,348,809 at the time i write this) can easily being moved whether it's going up or down.. When the price does break above 7000 satoshi -which will be a resistance since the price action already broke it- that will be a good sign for upside momentum. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
by MisterCatt
BTC/USD Lose for a word in a good way I didnt aware how strong the price action going to be after all bearish scenario i laid out since recent month. Just for within weeks. Btc price just swoop all resistance in single move. despite bearish divergence, patterns, overbought indicator, past time support and upcoming resistance . 6k has been a support since 2018 until it broke down in early 2019... 1 year support that becoming an upcoming huge resistance and less than a week just breach that level just like that?? am i high?? lol but in anycase if it's still continue it's momentum to rise up and able to gain 6k as a support while btc/usd do a correction.. bullish sign is confirmed.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BITSTAMP:BTCUSD
by MisterCatt
LTC/BTC show resilience around 200 EMA0.0121 satoshi is being hold for a while as support though btc dominance is keep rising (62% currently i write this post).. 0.0131 satoshi (20 EMA) would be a first resistance in order the trend to shift in day time frame if it's hold and btc dominance is falling.. LTC/BTC might might have a run up soon.. in weekly time scale is leaning into bearish trend. indicator is bullish divergence for macd but not in RSI.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion and want to learn more from you and please feel free to share what your thought on comment section. peace.
by MisterCatt
Bull trend for Btc Dominance So far in weekly chart it's looking very bullish.. price action above Parabolic Sar dot indicate a bullish trend is in progress if it's break 62% expect a 68% become a next resistance. On Daily Chart it's looking bullish though the parabolic sar dot is closing in the candle in a tight range + it's in a resistance area 62 %. a huge risk to trend shifting if the candle closes below 60% and a high possibility of retracement in daily chart.. For vertical line is a hypothetical date for it's starting to take a retracement based on previous correction movement after it's top price/precentage. you can look into detail in this that i assume alt season will happen. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
CRYPTOCAP:BTC.DLong
by MisterCatt
XRP/BTC Last important Support before larger gap tonext supportShort Update on XRP/BTC.. though price seems defied the most oversold indicators and it being dictated by rising btc dominance.. especially on larger time frame currently at 62% and still rising upward at the time i write. it only seems only one support left to be maintain.. 4000 satoshi.. if it's break.. might be a bad sign for xrp/btc.. 3100 satoshi is a next support if it's break down.. for vertical line is my hypothetical timeline before start impulse movement based on a similarity of days. we will see..
by MisterCatt
My Update for Total Crypto Market Update from my previous chart regarding double top in total crypto market cap... As we all know.. this chart is not being valid anymore as the double top pattern is already being extinguish as the price it's keep going up.. now let's change into current chart. It is now currently testing 190 billion dollar resistance area.. which is a quite support back august - september 2018.. also a bearish divergence is sighted.. just like btc/usd did.. if it want keep continue to move up without retracement.. the rsi and macd must be looking like this chart which is not very likely to happen.. the indicator below orange line is still in bearish divergence area. The Recent News regarding the cypto capital is rising also being contribute from Fidelity Investments which will stimulate a large volume flow into a trading cryptocurrency in near future.. Which is good for crypto market. toshitimes.com we will see what happen.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
CRYPTOCAP:TOTAL
by MisterCatt
BTC.D Peaks and Alt SeasonLooks like ready to test Bitcoin Dominance level on September 2018. Volume much more bigger than december 2017 which is very bullish looks.. although, a potential bearish divergence already sighted. just hypothetical and fun thought, i just put a timeline with a same day from a peak of dominance day right before it's fall down compare with xrp and ethereum rise which indicate many alt rising in satoshi value/alt season.. BTC/DOMINANCE XRP/BTC ETH/BTC please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
CRYPTOCAP:BTC.D
by MisterCatt
XRP/BTC Painful Slope of Downward Channel Could be bad news also regarding 1 billion xrp sell off todaysgazette.com if it's continue dump and broke 0.382 fibonnaci support (5200 satoshi) .. i expect around 4100 satoshi level be a good support.. So far. nothing interesting in most indicator (CMF, RSI, MACD) as it's volume non-existential, still in bearish area, price being suppressed hard... and it's still continue it's downtrend.. xrp/btc still dump since december 2018 until present regardless btc dominance percentage level before 54% and above 54%.. But i have interesting hypothetical timeline that i made for upcoming impulse movement for xrp/btc.. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
by MisterCatt
BTC/USD overview.Still moving upward as expected... head and shoulder pattern is not valid anymore. potential rising wedge is still in play.. MACD begin to show it's strength and will find out soon enough whether it will end up with a bearish divergence or not. green line : good indication for the bull keep's it's march orange line : a sign of imminent healthy pull back. RSI just breach a line into 70 level line and remain intact with it's channel. must breach a previous yellow line or higher than a list higher RSI level. a high stake for the bulls to keep going as long it's the price move within the channel. high probability for the trends keep continue. please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion. and please feel free to share what your thought on comment section. peace.
BITSTAMP:BTCUSD
by MisterCatt