Topic: I quit my job to do full-time crypto-trading. Made 12 BTC profit last month - page 11. (Read 10847 times)

I am so very amazed with those kind of people too, that they can still manage to do trading after work, or sometimes during work,meaning they do love and they are passionate with what they are doing that they  don't want to waste their time in doing it. Hope that this thread will be able to inspire more crypto traders to become successful.

This means you have amazing time management skills and are able to work nicely under pressure. There are people who cannot pair up day trading with full time jobs since both require mental activity and make you tired. People usually are seen pairing day trading with no job and long term trading with day job. Your combination is rare one and if you making good money with trading, join it full time.

In trading, you must be knowledgeable and skilled because it can give you a lot of profit and additional sources. If you already quit your job for just doing a cryptocurrency, I think it was not good today, the price of the bitcoin is dumping because about the happening in the market. In trading and you, want to earn a lot of bitcoin every day or every week you must focus your attention, the price of the coin is not stable and not profitable. But if you are looking forward to an investment. It was a good plan because the cost of the bitcoin is low and this is the chance and a good opportunity for long term trading. Bitcoin cannot give you stable money; sometimes it falls no one knows still it is better if you have a steady job and income for your future.

Experience and learning are both important and we should keep getting it in order to become a profitable trader. Being a full time trader is hard because the market is open 24 hrs and it is really hard to monitor the coins due to its volatility. I have a day job and I do not have plan to quit in switch into full time trading. I can still handle the risks even if I have full time job.

That's true we need to learn explore everything and more experience in trading if we want to be successful in just like you mention. It was hard for us if we quit on our job for a reason to go in trading because we want to focus in trading but if the time comes we earn enough in trading can bought house and car or make some businesses maybe that will be a time for us to quit our job.

Bitcoin price renewed a minimum of 7 months and currently is traded around $6500.

The impulse and bearish sentiment were quite expected in terms of a descending triangle that was forming in November-December. Besides, the price moves in a downwards wide channel since spring 2019.

Halving might improve the price but this is rather a long term process that is not felt currently. Keeping an eye at more short positions in the short-term.

I do have my office mate too who resigned from managerial position just to do trading, he's doing part time trading in our office and after a year, he managed to resigned and now he's full time in trading and already bought a new house and a new car, I am happy for all of those guys and I wish to be the same, still needs to learn a lot from trading.

I have friends who quitted this jobs because they want to work only to cryptocurrency or become full trader but suddenly they did not success and they lose more money and now they finding a job again but they still a part time trader. But look at you are successful even you gave up your work that is amazing and I hope you become successful more.

Being for several month in declining channel (yellow) currently the ETH price is forming and descending triangle that is a bearich sentiment signal.

Planning to open a short trade at a breakout confirmation. Waiting carefully.

The price experiences the consolidation again that implies the further impulse. Currently, the direction remains unclear but inside the consolidation there is a kind of double bottom pattern
Expecting the crowd to lose as it usually happens.

Oh I feel you.
Thinking of longing as well at around this lvl. But the confirmation is needed. And also the stop is to be short or even at breakeven.
So keep in touch

Indeed.
Well, you need to be a full expert in your system, but the adjuctments (in complexita and the ones related to market structure changes) are as much important as your strategy.
Also personally I do not explude experiments!

The price is experiencing interestig scenario.
On one hand, the overall sentiment is bearish with the importent levels of $7100 and $6800. This is almost a triangle pattern that implies the strong impulse afterwards.
On the other hand, the price still consolidates. Thus, I cannot exclude longing from about $7100 lvl with short stop.

You guyz?

i like how consistently you are practising only one trading system and you have become expert in that ,  i think this is what full time traders need to become a expert in one trading system

I had a short too, opened at 7316 but guess what, my position closed tonight because of this f*cking move. I had a stop buy at 7360 and what happens, a spike to 7400 for just a few minutes and straight back down to 7100. Who is joking with me? Anyway I'm thinking of going Long now but waiting for the move to 7200 to confirm my vision.

Just closed a short trade with 80 points gain. Opened at the strong support breakout.
For now, the next bearish targets I see are the $7100 and $6800 level.

Hello! Glad you eager to enhance professionally!

Some sources to start trading with:

Arthur A. Merrill:
"Behavior of Prices on Wall Street",
"Bear Market Characteristics".
Toby Crabel:
“Day Trading With Short Term Price Patterns and Open Range Breakout"
Murphy, John J.:
“Technical Analysis of the Futures Markets” - MUST
Edwards and Magee Boston:
"Technical Analysis of Stock Trends"
Wilder, J. Welles.:
“New Concepts in Technical Trading Systems”
Dr. Elder.:
“Trading for a living”
Larry Williams:
“Long-Term Secrets to Short-Term Trading”

Also while trading make sure you comply with risk and money management. This is sometimes even MORE IMPORTANT than trading strategies. Be sure you can keep your earnings safe and multiply them. I often face the problem when talented traders because of it.

As for the trade at the screenshot, it is Larry Williams price action strategy (there are several such patterns). Btw, I often use this strategy in my trades

Talking about my experience and decision, I started from the traditional markets trading (already 12 years in it). Reading, demos of course. I have some friends in hedge funds, so they were sharing the experience. Forums, meetings, etc.
Then I moved to crypto. 4 years already. Here I mastered the skills, specifically money management. Earned a lot on margin trading (the advice here is not to use risky leverages - I use 6-8 max)

Good luck!

wow, how could you do that? Can you share more about your experience in trading? Actually I'm a new trader and everything for me is messy now. I am practicing trading and this has been going on for a month but I still have nothing but a confusing failure. So I want to ask, when you decided to give up your full time job, what did you do first to learn trading? Read lots of books or practice on demos a lot? I would love to hear your feedback. Thanks for reading my comment.

Hello mate!
Yeah, I have a stop (actually, I do have it always). Approximately at the level you've told. But I closed the trade according to my time limit - too long fluctuations at the same range, do not see sense currently.

Mark_R, do you have a stop loss set for the other half of trade that is still active? Where do you think it would be wise to set it? I'm thinking $50 bellow your green line so at the moment this means $7460. We are very neat the green line right now so let's wait a few more hours and see if the trend line holds or breaks.