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[EDU]Doing this will Massively improve your Trading!Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. DRC stands for Daily Report Card To be all transparent I adopted this from smb capital. Credits and Kudos to them. I used it and did some modifications to suit my purpose. So you can do the same to what I have over here and modify according to your requirements. The purpose of the daily report card is to help you keep track of your whole trading day. If you do have a day job or what not, you can adjust the DRC to be cater for a week or few days. It's up to the individuals. So, this Daily report card of mine basically looks something like this as shown above in the charting space. And let me give some details on each of this sections. Daily Analysis In this section, you should start off with how you have felt in the morning. Do you feel refreshed and pumped up, or grouchy as you have had not enough sleep? Or are you feeling miserable or unhappy over the big lost you had yesterday? You can put it down over here. Then continue on for how you would prepare your trading day by first analysing the market that you are trading on. Goal This will be link with the goals that you have set fore for yourself. Try to put a goal that you wanted to achieve by end of the week, month or quarter. This doesn’t necessarily be the big goal you have. It can be subset of the big goal you have. Some examples can be, to increase my position size from 1% to 2%. Or to be able to hold my trades longer, sticking to pre-defined exit strategies and improving my risk to reward ratio etc. This goals does not necessarily needs to be monetary. Reminders / general truth or principle You can put some reminders and principles for yourself here. You can start off with things like focus on your goals and not the PNL, focus on your trading as required and remove any distractions (e.g. social media). These are just some examples of the many and I will leave that for you to fill them up. What I learned/improved upon today? To this, you can write something that you find interesting or learn about the market. For example, if you are day trading, GBP could have a particular time that you have observed where it reverses it trend. OR it could just be that you come to realize some interesting trading setups using a particular indicator etc. Important trade, if any Over here, you should document down trades you find it important for your to remember or refer back to later on in the week or future. This can be trade that you have did well or a trade that you performed badly. Jot it down so that in the future you can revisit and learn from it again. Change need to be made from today? Here are some things that you felt that you should act on it immediately for example, if you lost yourself and be emotional on losses. Put it over here and evaluate what has happened and act upon it. Or you have entered a trade haphazardly ,in fear of FOMO etc. Overview Just a 1-2 sentence to sum up your day.Nothing in particular but jotting down your thoughts of the day. Finally take a look at the top left hand corner of the table I had for you. There is a X /5 which denotes the score you gave yourself on that day (if you are doing it on a daily basis). Over here, have your own scoring system to give yourself score and hold yourself accountable for it. You can do something like, giving a score of 1 for daily analysis section, 2 for goal and 1 or important trade etc. Just to evaluate how you have done for each of these section is a quick way. It's the year end and if you have yet to evaluate your trading performance and not sure how to go about starting, do check out the link i provided below for the post i have put up recently. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
NYSE:BRK.AEducation
by Shadowing_The_Big_Boys
1
Evaluation of Bitcoin?This is possibly a controversial subject as there are some super die hard bitcoin maxis out there and I understand everyone has there own opinion, not to mention there is no proof of knowing the best way to do this. But one thing I have noticed over the last few years is people who have only ever traded crypto, have the worst idea on how to evaluate an asset. When I first starting trading I only traded crypto, and I firmly believe for various reasons crypto is a great place to learn how to trade financial assets. However some people never make it past that point and just stay in there little crypto bubble with out venturing out into the world of fx, commodities or equity markets. I feel because of this, they are very closed off to more traditional investing or trading technique's and metrics that are pretty well known across other asset classes. I hear people say things all the time like "this coin is so undervalued is should be 10x this price by the end of the year" but when you ask them..."why?" they dont have an answer other than some recycled marketing dribble. The truth is your typical crypto bubble trader wouldn't have the slightest clue in how to actually evaluate an asset and would rather rely on hopium or something they heard from your generic YouTube influencer. If you mention things like discount cash flow method, pe ratios, secular trends, book value, comparable or risk adjusted returns they will look at you like a stunned mullet. I understand when it comes to some crypto coins and tokens they resemble more of a currency so more understanding of economics is needed to probably estimate the value of these coins. Its a bit hard to use tradition metrics like gdp, inflation etc when it comes to a lot of crypto assets because... well.... a lot of them are just theories and promises and dont really do anything "yet" The one metric I have always found to be solid when it comes to Bitcoin is the NVT which uses a few data points and on-chain metrics to track things like wallet transactions, frequencies and sizes to see how many people are actually using the network and to what degree. This IMO is one of the best ways to find some sort of intrinsic value of an asset like bitcoin as it falls more into the "Network Effect" and NO I'm not talking about how many people are "HODLING" bitcoin I'm talking about people using bitcoin, paying for things, sending it around and transacting, you know actually using it for its intended purpose. The data is cross referenced against price action to determine if the asset is over valued in price compared to its actual use case. I have revisited this chart a few times over the years and I find it pretty interesting that when we move into a bullish uptrend and have volatile price action we quickly fall into the over valued region but we can stay there for some time and price can continue to rise (making this indicator pointless for buy and sell signals if thats what your thinking) How ever what you can see is that every time we have finished a block of over value, we are met with some pretty length and large retracements some as far as 70% and some lasting years.... Do you think bitcoin is moving to fast for its own good? Based on the data and NVT chart it still seems like bitcoin is continuing on a positive mean due to network effect but it tends to get a little a head of it self from time to time, maybe because of the people involved in participating in this market have slightly higher risk apatite than others and are happy to pile on risk during high volatility? Anyway food for thought, I brought it up with my students a few months ago during that distribution point around 60k, Im not sure if anyone paid attention but if they did they would be sitting pretty comfy right now. What's your thoughts, Do you think the NVT can be a good gauge on evaluating bitcoins intrinsic value?
Editors' picks
BITSTAMP:BTCUSD
by DeNomics
105
BTCUSD:Bears hesitant, bulls shine! Detailed Technical AnalysisHello traders! Recently, BTCUSD experienced a steep crash. But we all know that nothing lasts forever. Today I will explain with technical analysis the status of Bitcoin, the biggest cryptocurrency in the world. Bitcoin has been a little silent lately, but it is time that will change. Here are the points we need to know: 1. The lower band of the Moving Average Channel broken for the first time in 4 days The MA Channel's lower band, or the 100-period average of lows, has been broken by the bulls in 4 days, or nearly 100 1-hour bars. This bullish factor gives us clues of an impending bull run. If the 100-period average of highs(green in chart) is broken, then we have more confidence of the bull run taking place. Price and time will tell. 2. Symmetric Triangle Breakout The tiny symmetric triangle in the chart has been broken to the upside, with relatively strong volume. Twice the volume the bar before indicates that this triangle is valid, and will strengthen our chances of a bull run. 3. Fibonacci Retracement levels to watch The 0.382 Fib level or $32.2k served as the trampoline for the price today to climb to 33k in a few hours. We may expect the price to pullback for a while to this 0.382 Fib, then we may fly. The next resistance is the 33.3k level. We may not expect a large presence of bears in the area, because of another major resistance(number 4). 4. $34k resistance level hardest barrier for the bull run The 34k resistance(lime horizontal line in chart) has served as support and resistance all the way to the first days of 2021. We may see a large number of bears in the area. If the bulls win the battle, we may see a strong bull run all the way to 36k. 5. Retest of 30k may not take place because of the breakout of the symmetric triangle There are already many supports above the 30k support. There is a 0.382 Fib line and a symmetric triangle for immediate support. 6. Huge purple trendline highest target The huge purple trendline above may be touched in about 30-50 hours. Because this trendline holds 2 tops which made a panic dump, this trendline will be almost impossible to break, unless we have a big number of bulls there, which may be unlikely. 7. Looking at the bigger picture, we are in a consolidation area Zooming out of the chart, we will notice a big consolidation. We would have to wait for a breakout to see which direction we are going. Now, let us have a look at Bitcoin. Bullish, Bearish, or Sideways? Daily- Sideways, we are in a consolidation Weekly- Little Bullish 4 Hour- Slightly Bullish 1 Hour- Up Trend with a not-so-impressive look, but still good enough Monthly- Slightly Bullish Conclusion: I would like to say that BTCUSD is a good buy. You most likely heard the saying "buy the dip". The dip has ended, according to Technical Analysis. Bitcoin would be good crypto to buy in the short-term. Good luck! Thank you for reading! Please like and subscribe for more detailed Technical Analysis. What do you think? Put in the comments below! P.S what pair do you want analyzed? The pair with the most likes in the comments below will get a detailed technical analysis.
BITSTAMP:BTCUSD
by Trader_ph
8
Bitcoin: BEARcoin, SIDEcoin, or BULLcoin?Hello Traders! Bitcoin as of the moment is very volatile, so prices will go in any direction possible. So today, I present to you the 3 most likely scenarios for BTCUSD.(not in order of likeliness) 1. A Head And Shoulders Pattern is Forming An H&S pattern may be forming. If it happens, the Left shoulder and Head are already formed. The right shoulder is on the first half of its life. We still have to wait for confirmation if this pattern will happen. If this happens, we can expect a steep breakdown with a heavy volume of the $30k support for the price to tumble to the next support of $25k. 2. Consolidation in the 30 to 35k range Bitcoin may consolidate into the 30 to 35k range, as the 35k zone is already resistance. This will happen if the market is still deciding on when to be a bull or a bear. Consolidation may last for 2-5 days only, because of the current volatility of the market right now. After, it is a matter of up or down. 3. The Bitcoin uptrend will just continue It is possible that the Bitcoin bull trend will just continue. The 3-times-hit-by-steep-pullbacks bullish trendline still isn't broken. If this scenario happens, we can expect a rally to 40k, and we will see what happens after that. Either a double top or a bullish continuation. And mysteriously, there is a Bitcoin cycle... check the Related Ideas below. Still, we have to wait for confirmation, by breaking the 35k resistance. What do you think? Are you a BULLcoin, SIDEcoin, or BULLcoin? Tell me in the comments below! Thank you for reading! Make sure to like and follow for more!
COINBASE:BTCUSD
by Trader_ph
1
XLM Stellar Lumens/USD starts intra-day bearish trend, AnalysisGreetings traders! Hope this chart finds you good. Don't forget to like and follow for more analysis. XLMUSD recently started a bear trend after a failed bullish breakout, because of its insufficient volume to support it. The uptrend trendline also recently broke and is currently resistance. The 30 cent area is reinforced with a 20-period Moving Average and a Fibonacci Line, therefore a breakout there will need to be incredibly strong. While the bear trend continues, the first retracement is very likely at the 26-27 cent area, where strong support resides and was hit 3 times(see green circles in diagram) and also a Fibonacci line. We can take partial profits here. After, we have 2 scenarios. The 26 cent support will halt the bear trend and force the price to consolidate, or the price will slightly pull back, then it will break the support and the downside will continue all the way to 24 cents, where a Fibonacci line resides. If the second scenario happens we will see at least a 16% profit. Then, the trend ends there. Of course, eventually, a downtrend meets an uptrend. In the second scenario, we can expect an uptrend to 30-40 cents after the price hits 24 cents. Just a side note: XLMUSD is very volatile, moving 5% to 10% in a few hours. Just be careful. Plan your trade, trade your plan. Thank you for reading! Anything you disagree with? Comment it down below! I would really appreciate it! Don't forget to follow @Trader_ph and like this post!
BITSTAMP:XLMUSDShort
by Trader_ph
1
Attention! Bitcoin/USD is at very interesting phase!Hello guys! Dont forget to like and follow me for more informational ideas! Bitcoin, for the first time, breached $40000, becoming the first cryptocurrency to do so. However, Bitcoin hasn't had a pullback, so for the next few days of Bitcoin will be very interesting. What we should take note about bitcoin: -Price has reached $40000, a price area packed with sellers -Bitcoin's first correction since the cryptocurrencies got hyped is yet to happen -Bitcoin is in the short-term VERY oversold -The whole trend is still intact and won't reverse to a full-fledged bear trend -Candlestick reversal pattern Hanging Man spotted According to the notes above, Bitcoin may experience a retracement for the next 7 days, then continue up. Look- I am not saying to short your positions. You have to wait for the pullback to happen. Fundamentally, Bitcoin is still the rage of the whole world. Even my janitor neighbor got a hold of some Bitcoin. And it's not just us holding Bitcoin. Big-time investors, companies, and even governments are secretly hoarding Bitcoin. We can sight on Bitcoin hitting $50 k by the end of the month. Bitcoin is being used more and more every day, and a possibility is that Bitcoin will be used as payment in most restaurants by the end of 2030. Technical Analysis shows that in the Fibonacci Channel(diagram), the bears make their trade at the 4.236 area, therefore making it a strong resistance line. The MA 50 still holds meaning the bulls are generally in control. A Hanging Man candlestick formation has appeared in today's candle. So, we end here. Thank you for reading! Make sure to like this post and comment below for your view on this analysis. Thank you again! @Trader_ph
BITSTAMP:BTCUSD
by Trader_ph
2
How do you evaluate the upside potential on new IPO's UPSTSo Upstart looks like a really exciting company. Ex OG google brain started up this AI lending system that beats out traditional models by a lot. I like the team, I like the idea, and it's performing well. with already close to 200% up from it's IPO price though, I'm weary to jump in. Market cap is at 4.5B which is a little high for me cuz I usually target small cap stocks. The lending industry is multi trillion dollars though so technically this thing could shoot to the moon. Would love some advise on how to approach this trade.
NASDAQ:UPST
by lillybear
Hold onto your seats... Critical point for MSFTLet's see what happens Monday/Tuesday in the markets. MSFT is still up 26.7% in the last year (despite Coronavirus selloff) - it should not be considered cheap with current P/E ratio: 26 (down from P/E ratio: 32 in February). Terrific company with a lot of prospects going forward but there is much better value to be had elsewhere in the market right now. MSFT is not immune to the Coronavirus fallout - they've revised estimates and admitted supply chain problems which will continue to affect the company through the end of the year. Be patient with MSFT, we may get a better buying opportunity soon. HOLD OFF AND LOOK FOR BUYING OPPORTUNITY IN THE NEAR FUTURE
NASDAQ:MSFT
by DanEllsworth
2
Evaluating Ethereum's 30-Day PerformanceJust before Crypto skyrocketed to now (60 days), I noticed the trend line is pretty straight (middle line). So I bracketed lows and highs which then gives an estimated trajectory for the next 30 days. Barring any Earth-shattering news from other protocol tokens, I would say this is a decent range in which ETH will perform. I think it also factors in another headline of a major government banning some aspect of the Crypto market. Because, if I remember correctly, one of these headlines occurred in each previous month.
BITSTAMP:ETHUSD
by stiltsmccoy
Evaluating Ethereum's 30-Day PerformanceJust before Crypto skyrocketed to now (60 days), I noticed the trend line is pretty straight (middle line). So I bracketed lows and highs which then gives an estimated trajectory for the next 30 days. Barring any Earth-shattering news from other protocol tokens, I would say this is a decent range in which ETH will perform. I think it also factors in another headline of a major government banning some aspect of the Crypto market. Because, if I remember correctly, one of these headlines occurred in each previous month.
BITSTAMP:ETHUSD
by stiltsmccoy
GILD - Valuation bargain, but technically awful. Future BUY NASDAQ:GILD has been a great investment and I believe it will continue to be a good company to own long term. The valuation using multiple methods is outstanding compared to it's peers. Fundamentally, the question has been regarding future growth. GILD will have to find new ways to generate future sales growth to replace the expected slower growth from it's hep C blockbusters. Investors are concern GILD could be a value trap. Even with the questions about future growth, this stock seems crazy low compared to it's peers. From a trader's perspective. Price action is awful and it may stay bearish for awhile. I don't see a favorable long swing trade entry at this time, but this sell off will get over done. I plan on also evaluating my "investment options". One possible option to consider is a buy-write around $80 - 78. Options are currently selling at discount, so ideally I would like to IV go up to sell them a a premium.
NASDAQ:GILD
by JLJ002500