Psychology
LBRY/BTC Channel. "Dying Coin" was in the TOP 20 - 2017There is a channel of 80%. You can see on the graph that someone is interested in this coin. Perhaps the organizers of one of the hundreds of pamp groups for the future, which pamping illiquid on the principle of "he who first slippers. Mostly traded on Bitrex.
One of the hundreds of dying coins, but this one is the exception of all, because at the beginning of 2017 (the launch of the project) it was in the 20 coins by coenmarket capitalization. The sect of believers was quite large.
Coin in coinmarketcap: LBRY Credits
Read the contents of this idea carefully and understand what I want to convey with examples of similar belief altcoins.
LBRY Credits (LBC) / BTC Triangle Pump Channel 400% Psychology
Coins like this can be traded on a pamp/dump basis and get away with it. On such coins the work is rational not by large amounts and without accumulation of large positions. Goals are adequate. Always remember this is a trading tool, a phantom on the screen, its real value is zero. So 99% of coenmarkets. The price depends on the legend and marketing efforts, imitation of "work" and as a result the size of the sect of believers in the phantom that will get them golden (a small probability).
Sooner or later there will be a death, 99% of the coenmarket, it's only a matter of time. Also, you have to understand that because of the "influx" of new faith scams you do not notice the complete depreciation of previous "money-grubbing projects" and the eventual death of them.
This coin is more for experience and understanding of the work than for real earnings. Although you can make money on price movement pulling, it all depends on your greed and understanding. You can work with similar coins in groups (up to 10) on opposite correlation. Some instruments are up, others down or in accumulation, due to low liquidity it is feasible. This is how the question of liquidity and rationality of spending time for potential earnings is solved. The death of one of the instruments from the group then will not affect your deposit at all. The main thing is that there won't be a mass extinction of "dinosaurs", and it will happen when the market climate changes for total control (I want to know everything about everybody, including what you have hidden, it is illegal to have much money), and "big brother" comes with a big shovel of wiper.
Coin Group 4, former top, that's what I want to emphasize again.
MATICUSDT, BUY?It's better to wait in crypto rather than in Forex. As crypto market is more charming to be in it. For now, I'm waiting for MATICUSDT to down to it's: 1.Support zone 2.Daily 200EMA 3.Fibonacci retracement.
You know, patience makes perfect.
8 Trading Habits of Successful TradersConsistently profitable traders have a lot of things in common. Watching how they act and following their ideas & thoughts we can spot a lot of commonalities among them. In this post, I have collected 8 trading habits that a trader should have to become successful.
1️⃣ - Realistic Expectation & Vision
Many traders, most often beginners, commonly fall for the trap of wishful thinking. When analysing the charts, they usually only view the market from one bias and only perceive price heading in one direction.
And this is typically the one that their own analysis is pointing towards. However, going into each trade with a realistic expectation that the market doesn't care what you think may happen, and being prepared for a trade to go wrong will help keep you level headed.
2️⃣ - Anticipation of Different Outcomes
Anything can happen in financial markets and for this reason, professional traders always justify their decisions in probabilities.
They understand that 100% chances do not exist so looking at all possible probabilities before entering any trades, the trader is always ready for completely different outcomes and accepts each and every move given by the market.
3️⃣ - Emotional Stability
The market is a wild beast who always wants to bite us and most of the time it manages to do that e.g. drawdowns & losing streaks...
Those who trade for at least 1 year know how unpredictable and unstable the market can be. A perfectly looking trading setup can easily turn into a big losing trade.
Of course, that is painful and of course with more & more losses, the anxiety will begin to chase us, the stress will overwhelm us and you may begin to start second guessing yourself.
Only by remaining stable and calm, you will manage to overcome the negative periods. Learn to control your emotions, learn to take losses!
4️⃣ - Continuous Learning
The markets are infinitely deep in their nature. Trading & constant monitoring of the market always unveil new, uncharted elements and things.
Throughout all my years of day trading, I can't help wondering how many new things I learn each and every day. With continuous learning you evolve, you become better and it improves your trading performance & results.
5️⃣ - Flexibility & Adaptivity
The markets are always changing. If you were trading before COVID crisis, I guess you feel how the reality among us shifted. With fundamental changes in our daily lives, the markets changed as well.
It is hard to say what exactly has altered though, however, we all can feel it. In order to survive in a constantly changing environment we must always be adapting and never stagnant.
6️⃣ - Trade Journaling
Pro traders always assess their past performance & results. They track each and every trading position that they opened.
Both losing trades and winning trades require analysis and observations. Only by studying the past results the trader can improve his trading performance and evolve. Only by identifying mistakes & peculiar commonalities, the trader learns to lose less than he makes.
7️⃣ - Risk Management
90% of traders lose 90% of their funds within 90 days and under 90 trades . This is a well known statistic in the trading industry and aside from psychological factors, it mainly boils down to incorrect risk management.
If you're looking to survive in this game and have a long, prosperous career in trading. You must have your risk management locked down.
One beneficial risk management habit to develop is to not enter any trades unless they have a risk:reward ratio of at least 1:3+ .
8️⃣ - Trading Plan
Sticking to your trading plan is one way of promoting long-term success throughout your trading journey. Undoubtedly, you will go through many psychological ups & downs, mental battles and periods of low confidence.
Abiding by your own trading plan will help assist in ensuring that you don't step out of line from your own trading rules and allow you to stop yourself from developing bad habits overtime.
9️⃣ - Constant Practice
Professional traders never stop, they always watch the charts, they always monitor the prices, and follow the market.
Trading requires constant TRADING. Just spending one single week on a vacation without charts, you can not imagine how hard it is to return back. The trading skills must be constantly maintained.
Bitcoin - Market Cycle Psychology - Road to despairA double peak scenario is likely. It seems that the ETF news is a stretch, and the increases depend on it. We closed the CME gap at 62k. Falling volume indicates some change in trend. The decrease in volume and the increase in price also suggest an irrational increase in the current price. We stop at 30k, there is a CME gap at 32k. Then we should see the area around EVEN 10k!
If there is no double top formation it means we only had a bear trap and we are going to 200k +
So You Wanna Trade Full Time... Is it Possible? A Good Idea?I walk you through my thoughts on the dream that most traders have: doing it full-time!
I give you my personal experience and how I've tried things in the past. What I'm doing now and what works for me.
Key takeaways:
- The trifecta: access to capital, good strategy, cost-of-living. You have to solve for 2 / 3 of these!
- You can't buy peace of mind. Have other income streams to mitigate the risk from your trading not going well for periods of time.
ETH Orders continue to buildGood Morning traders,
After the success of yesterdays post (thankyou)
I thought I would give you another quick update.
you can clearly see the say thing it still happening.
We build orders, Whales protect orders.
There will be an impulsive move coming to sweep things out, so be prepared!
As always trade safe.
EnvisionEJ
ETH An example in why retail traders are wrong!Good Morning traders!
Today I have a great example of order protection and liquidity building.
This is something that I have been speaking about for a long time and this current PA shows it well.
The blue boxes show places where large orders have been placed and and initiated moves. See how price returns to retest these areas?! this gives the Banks, Whales and big players a chance to protect orders.
Retail traders place orders outside of these areas "support and resistance areas" These orders can easily be seen, and therefore hunted. The highs and lows create areas for the big players to exit the large volume positions as every buy order needs a seller and vice versa.
I hope this information has been helpful.
As always trade safe.
EnvisionEJ
The importance of sticking to the plan 👊👌As traders we are our own worst enemies!
A common theory with trading is as follows. 10% is having a good strategy, 30% is having good risk management and the final 60% is psychology.
If we as traders fail to address the final psychology part of the sentence above then we as traders will fail in the markets.
The chart shown in this idea is EURGBP working the 30 minute time frame.
The strategy is a rules based mechanical approach working a 1:1 RR to fixed stop loss and take profit targets.
I know I have a proven edge with this strategy as with all my ideas the built strategy tester report is at the foot of this idea shows the strategies credentials.
Position sizing is correct I trade this strategy on a stand alone account for this pair and I'm happy to risk 2% per trade of my capital from said account.
So where does the psychology part come in to all this?
The emojis on screen show the emotions I would of been feeling with this trade once upon a time! An emotional roller coaster!
The chart shows three trades. A short which hit TP followed by a long which hit SL.
Then the trade I'm using for this idea which lasted a full 13 days!
But this is where sticking to the plan and the rules I set help remove that emotional roller coaster.
Not sticking to that plan could of created many outcomes.
I could of closed for less profit than intended as part of the plan or worse still could of cut my losses only for the trade to go on and hit TP target.
The above would of then led to more emotions thus effecting my future trading decisions and choices.
With each trade I enter I am comfortable with said outcome whatever that maybe.
That comes from trading a proven strategy, having correct risk management and then by sticking to the rules of the trading plan for the strategy.
Sticking to a plan removes any subjectivity and helps take care of the psychological side of trading.
I even automate my strategies now and not checking trades every minute of the day has helped removed all those up and down feelings the emojis on the chart represent.
I'll end with one final thought patience has to be part of your plan. The markets take from the impatient and give to the patient ones among us.
------------------------------------------
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.
------------------------------------------
Please hit the 👍 LIKE button if you like my ideas🙏
Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌
No one likes missing out, do they?
Also, see my 'related ideas' below to see more just like this.
The stats for this pair are shown below too.
Thank you.
Darren
BTC-Buy the dip, but be prepared we may not be done yet!Good Afternoon traders!
BTC is continued to move mostly inline with my expectations, we are having a reasonable rejection of the area I marked out and its a good place for buys. We have got a massive discount, what more are you waiting for?
While I am currently more bullish than bearish, I do still 100% believe that we can head to the 37k area as mentioned earlier today.
Technically we wont be out of the woods until we break back above the neckline of the head and shoulders pattern suggesting it has failed.
Either way cheaper BTC is always a decent buy.
As always trade safe,
EnvisionEJ
BTC- Be greedy when others are fearfulGood morning traders!
BTC continues to follow the forecasts that I provided the past few days.
While I did say I would be looking for buying opportunities around yesterdays lows I also said I would be prepared to buy all the way down to the 37k region.
As the order book get swept on the back of increasing risk from the Evergrande financial fiasco fud continues to move through the markets.
The same people not buying BTC at a 25% discount will be the same people not buying it over 100k...
As always trade safe,
EnvisionEJ
BTC-Predictable as alwaysGood Morning traders!
Yesterdays PA was easy to understand if you new what to look for.
Retail traders are PREDICTABLE and therefore the markets movements are.
The market has moved exactly as anticipated, sweeping out the retail orders stacked at the bottom of the range.
We are now currently sitting on the neckline of a large head and shoulders pattern. These patterns are subjective, and become "valid" once we break and close under the neckline. Again don't you think whales and funds know of these patterns....
From this point onwards I will be looking to enter longs, however I will be prepared that price can easily pull right back to the yellow circle around 37k.
The current market is being influenced by the spx500 and Evergrande, how it will play out is anyone's best guess, but I would suggest the Chinese government will stop a default to stop toxic debt seeping into the greater market.
As always trade safe
EnvisionEJ
AUTOMATED TRADING BOTS: How to profit with Tezos.Tezos is one of the best token for our robot.
Our robot mainly uses the DCA (dollar cost averaging) trading method.
If the price drops, instead of the Stop loss order, we have a Buy limit order.
This will also cause the Take profit value to drop and approach the current price.
If the price falls and falls, the robot buys and buys. This keeps the Take Profit lower and lower.
After that, the price of the token rises and our trade ends with Take profit, which is not far from us thanks to constant and precisely predefined purchases.
The XTZ / USDT currency pair is suitable for our demonstration. You see very high volatility.
It is through volatility that our robot can be profitable. If the price still went in one direction without frequent fluctuations and without "waves", the robot would earn very little.
We need great volatility for big profits.
Volatility in the TradingView platform will be helped by the Historical Volatility indicator.
This indicator often (on this time frame) intersects the value of 50.00, which is rarely affected for low-volatile currency pairs. For example, you would look for Bitcoin very bad around 50.00 on this time frame.
The key to our profitable trading bot is volatility! At a time of market colapse, when almost everyone is going through and positions in the Futures markets are being liquidated on a large scale, we are EXTREMLY profitable thanks to our robots.
Of course, it is very important that you know how big the position is and how often, or at what intervals it is necessary for the robot to buy more. In no case is every setting of the robot profitable, on the contrary, setting up a profitable robot is not easy.
You will learn how to set up a robot to be constantly profitable in our Academy.
PS: One of the best things about trading with robots is that you remove all emotions and decisions.
We wish you a nice day. UCT team.
BTC pullback underwayHello Traders,
A quick update, looks like price is pulling back like I was showing in the earlier forecast.
Now is the time to be patient and wait for the market to show its hand.
As always trade safe!
EnvisionEJ
BTC resting on a KEY AREAGooding morning traders!
Welcome to a new week!
As spoken about last week the stacked retail orders were swept! These stops are EASY to see for the average investor, don't you think Whales and institutions can see this as well?
After the sweep we have returned to a key area-and personally I am not willing to call which direction we will move, but have highlighted my 2 main forecasts....
Firstly we could mitigate this breakout range, if we do I can see price heading higher and targeting the region above.
If this doesn't happen, I expect a deeper pullback towards the 40k price level, again taking out those retail orders, at this point order books will be cleared a a clear direction can be set again.
As always trade safe!
EnvisionEJ!
BTC weekend update the market is predictableGood morning traders and a happy weekend to you all!
Today I will just to a small update recapping on the posts through the week.
What did I say-stacked orders from retail traders are easy to see.
What happened? stops were swept and then orders were protected.
The market is fractal in nature and retail trader psychology is predictable, start looking past the basic support and resistance and you will find a greater depth of understanding in the markets.
As always trade Safe
EnvisionEJ
ETH breakout and orders protected!Hello traders!
A quick update, to show the breakout and sweep of orders just like I as I was indicating earlier today!
Whales have swept the selling orders and taken out the stops causing a wave of buy stops to enact.
As always trade safe
EnvisionEJ
BTC mini updateGood morning traders!
AS expected we are slowing down right at the top of the range-now is the time to watch and wait.
Do we get a further rejection of the range levels? or do the whales blow through the retail trader orders?
Time will tell.
As always trade safe.
EnvisionEJ
BTC-Building orders before the next moveGood Morning traders!
Today we will have a quick look at the BTC chart. Everything is based off of the BTC PA. Alts may move for a short while breaking the coloration to BTC, but they always revert to the mean-following BTC.
BTC continues to build orders much like ETH, I can see a deep pullback on the cards into the green area before the bullish run continues.
Retail traders will stack stops in obvious places and whales and institutions will see this, this provides an area for this market movers to target.
As always trade safe.
EnvisionEJ
Will the bullish run will continue on ETH?Good Morning traders!
Sorry I have been absent for a couple of days I have been unwell (not Corona)
Right after my last forecast the entire crypto market had a decent pullback.
While I was calling a move higher its not unexpected and price returned to spot that makes sense.
Make no mistake this bearish selloff was market manipulation, the big players in the world DO NOT want El Salvador's idea to succeed or spread, it poses a danger to their ethos.
Looking at the technical picture the market does what it always does-it returned to test prior orders and protect them.
The 3 current scenarios are a continued move higher to test the yellow mark before falling away again.
An even deeper pullback to sweep the yellow circle before continuing higher.
Or straight push through the highs.
Look for where retail traders would stack stops THIS IS WHERE PRICE TARGETS!!
As always trade safe,
EnvisionEJ
Formation of consolidation according to Wyckoff (addition)Hello amateurs and professionals😎. I would like to add a few clarifications to my previous post about the Wyckoff accumulative model
PS - preliminary support. The moment a large buyer appeared, who stopped the market and decided to gain a position. Volume increases and the price spread widens, signaling that the downtrend is nearing its end.
SC is the maximum point of sale. Large mass sales by the public are consumed by larger professional interests at or near the bottom. Often the price forms buyout bars - it closes far from the low in SC, reflecting buying from these large interests.
AR is an automatic rally that occurs when sellers begin to weaken and change sides or exit the market. A wave of purchases easily pushes prices up; this is further fueled by a short cover. The high of this rally will help determine the upper limit of the cumulative TR.
ST - a retest attempt, in which the price revisits the SC area to set the position by a large player. If a bottom is to be confirmed, volume and price spread should be significantly reduced as the market approaches support in the SC area. Usually several STs are placed after SC.
Nuance. False breakouts or shakes occur late in the TR and allow large players to check on stock before the mark-up campaign unfolds. The “spring” pushes the price below the low of the TR, and then reverses and closes within the TR; this action allows large players to confuse with the direction of the trend, increase liquidity and enter the market at a favorable price.
However, the springs and knockout of the leads are not required elements: the accumulation diagram 1 shows a spring, and the accumulation diagram 2 shows a TR without a spring.
Test. Large players check the market for supply throughout the TK (eg ST and springs) and at key points during price increases. If there is a significant supply during testing, it can be seen by volume, the market is often not ready for the markup. The spring is often followed by one or more tests; a successful test updates tops with insignificant volume.
SOS - Volume appears and a major player is identified with direction. Often, an emergency signal occurs after a shake.
LPS is the last point of support. Some charts may have more than one LPS despite the supposedly extreme accuracy of the term.
BU - "back-up" - backups are a common building block prior to larger price increases and can take many forms, including a simple rollback or a new TR at a higher level.
-------------------
Share your opinion in the comments and support the idea with Like.
Thanks for your support!
info taken from WyckoffAnalysis
ETH targeting ATH this weekGood morning traders!
Welcome to a new week!
As I spoke about last week, ETH will target its ATH this week, is has roughly 11% to go before reaching this level.
You can see on the chart all the stacked short orders I was speaking about, and just as spoken about in the earlier forecasts the whales ate these orders up causing a strong rally.
I'm very interested in how price reacts once we reach the ATH, My best guess it a BIG push through/blow off before a decent pullback.
As always trade safe
EnvisionEJ
Bitcoin Dominance has Fallen! (Altcoin Season) The Bitcoin dominance has been dropping and dropping, the only question is "Where is the Bottom?"
Base on the chart, Bitcoin dominance has came back to its origin. This is why most Altcoins are pumping due to the fact that the dominance has been dropping.
Is this the indicator that a big dump is coming?
If Bitcoin dominance continues lower and lower, Altcoin season will continue to go and go, but when Bitcoin dominance bounces from here, Most alts will take a very nasty dump of at least 10-20%.
This is speculation!
