Topic: I'm A Professional Trader, Here's My Strategy - page 14. (Read 21972 times)

Sorry to hear about your losses, Sadlife.

Times have been tough lately but I think things will start improving soon, especially since we're starting to see the volume increase and large rises take place. As for the strategy, more information on it will be available in the coming weeks. A video could be possible but I'll have to figure out how to explain it, because this strategy, whilst fairly simple to trade, is really complicated to understand. So I think I'd need to to multiple videos to fully explain it.

I'll see what I can do anyhow.

This is exactly what i needed lately ive been stumbling and losing with my daily trades. A piece of advice or tutorial like this could be useful also could i request a video tutorial im really a slow learner when it comes to documentary teaching but i find video tutorials quite convenient and i learn faster from it.

You have to share extremely useful for newbies to start trading. For those who have long experience, they are like basic theories and in the crypto market there will be no theories.

Bitcoin Close To Entering Buy Area.....



Guys, Bitcoin is close to falling into the buy area I marked earlier.

There's a very high chance we could see the price reverse from this area and move back up to the current high.

When the price drops into the area keep an eye out for reversal candlesticks that look similar to the ones seen below.

Etherium Update.....

The decline that started last night has continued today.



Over the past couple of hours we've seen the price rise slightly, creating a new buy area to watch. 

This area doesn't have a high probability of causing the price to reverse, however, watch it anyway, because it could still cause a reversal. A reversal candlestick has just formed, too, so we could see a drop into the area take place in the next few hours.

The main point to watch is still the middle green area I marked last night.

I'm not sure whether we'll see a big drop into this area or a spike similar to what we saw on the 3rd (see the far left red arrow) If it's a spike it could be hard to get a trade placed, because there won't be any reversal signal in the form of a candlestick. If it's a big drop then it'll be easier, as they're usually preceded by some kind of reversal candlestick.

We'll have to wait and see.

Bitcoin Update......

Last night Bitcoin fell into the area marked in my previous update.



You can see the price reversed after it fell into the area (blue arrow) but then a couple of hours later reversed again and ended up falling.

The fall caused the price to break through the area early this morning but is now rising once again.

For the moment, the point to watch is the green area at the bottom.

This area is drawn from the beginning of last nights rise and incorporates the points where the whale traders/investors would have bought Bitcoin. 

If the price falls into this area we could see the whales buy again and cause a rise back to the current high of 6463. 

Alternately, if the price continues to rise from where it is now we could see a new area appear between 6387 - 6397 - I haven't marked this area since the price hasn't risen enough for it to be valid.

As always, watch for candlesticks with large one sided wicks and candles with bodies bigger than the immediately prior candlestick to appear inside the bottom green area, as these signal the price might be about to reverse.

I'll keep you updated when necessary.

New article "9 Tips For Trading Bitcoin And Atlcoin Like A Pro Trader" now available on the site.

Check it out below....

https://www.cryptotradingschoolonline.com/9-tips-for-trading-bitcoin-and-altcoin-like-a-pro-trader/

My Bitcoin analysis will be up soon, stay tuned.

Thanks guys, I'm glad you like the site.

Yeh, I'm going to get the telegram thing going soon. I meant to do it yesterday but didn't get chance due to all the action that was going on.

Etherium Update: Huge Rise.......

As with Bitcoin, we also saw a huge rise on Etherium earlier this afternoon.



What's interesting about this rise is that comes only a day after someone or a group of people bought a large amount of Etherium.

If you remember, in my post last night I said the reversal we saw after the big drop took place was caused by someone (or a group of people) buying a huge amount of Etherium, as evidenced by the huge wick that was on the candlestick that showed the drop (black arrow).

The fact that we've now seen this huge rise only a day after they bought suggest to me that these people, whoever they are, had inside knowledge that this rise was going to take place, and that's why they decided to buy all that Etherium during yesterday's drop.

It's impossible to know for sure of course, but it does make a lot of sense with what we've seen (and people say the price isn't manipulated ).

The point to watch now is the area below on the 15 minute timeframe.



If the price falls into this area tonight or tomorrow keep an eye out for candlesticks with large one sided wicks and candles that have bodies bigger the previous candle, as that would be a sign the whale traders and investors are buying again, making it likely the price is about to reverse.

That article can really help every trader analyze deeply the current marker movements. Social media communcations could give us good interactions while the community still discussed the ongoing project development of the coin. We can't really trust all who joined in the social media group, but it's a good thing to determine those admins in the group to avoid scammers.

Wow, it amazes me to visit and read your article of how you explain almost everything there. It's a nice website btw, i'm not done reading to it yet that's why i have to bookmark it. lol

Anyway, i've noticed that you didn't know what is this telegram thing well it's just an app for quick messaging but most traders/ICO/DevTeam use this to gather the people that wanted to join on their group to start talking about of there ideas, you know, some ideas that exclusive only for them.

Quick Bitcoin Update......


As many of you will already know, this afternoon a huge rise took place on Bitcoin and many other currencies. 



The rise pushed the price through the source of the drop that took place on the 29th. 

Now the price is falling as the traders and investors who made money from this rise take profits off their positions. 

The point to watch now is the area marked below. 



There's a very high chance we could see the price reverse from this area and continue it's ascent. 

The price is falling into the area right now, so a reversal could take place within the hour or at some point later on tonight. 

Keep an eye out for candlesticks with large one sided wicks forming inside the area or candles with bodies bigger the candle that formed immediately prior, as both would suggest the price is about to reverse. 

Guys, I've noticed that a lot of the images have gone missing, they're showing a "Bitcointalk.org image proxy" message.

Unfortunately, me being the idiot I am, I didn't upload any of these images from a image hosting site. I just did it straight from an editing site I use. The site has now started deleting the images, hence the reason for the message.

I'm going to see if I can retrieve some of the images. If I can't, I'll just redo the analysis and post them again.

Bitcoin Update.....

The large drop I mentioned in my final update last night did cause the price fall back into the buy area that had caused a reversal earlier on in the day.



You can see that once it fell into the area another reversal candlestick formed, causing the price to reverse and begin moving back up to the high made yesterday.

This reversal candle was a great signal to enter a trade - a signal I would've took if it hadn't appeared so late at night.

Take note of the fact all three reversal candlesticks fit the description of the candlesticks I've been saying to watch out for inside the different areas since I started this thread.

The first candlestick (marked with the blue arrow to the far right) has a large one sided wick, which I've said to watch out for multiple times, and the second and third candlesticks are both bigger than their prior candle, something else I've said to watch for.

Study what these candlesticks look like so you know what to look for when the price enters an area I've marked.

The point to watch now is the area marked below.



This area formed as the price rose out of the bottom buy area, and has good chance of causing the price to reverse if it falls into it.

Again, watch for reversal candlesticks that look like the ones that appeared in the buy area (see previous image) to form inside this buy area, as they could signal an imminent reversal.

Thanks panganib.

Yes, I only made an account back in Augast, I think - it might have been July, I'm not sure - so I'm still a bit of a newbie on the forum aha.

Some big developments on ETH and BTC last night.

My analysis will be up shortly.

I've been searching this kind of site, personal site for my basis and to compare to my strategy. It is good to know that you are sharing such a great idea to help some trader who's willing to learn. What i noticed is that your rank here in forum is below the average one i guess you entered this forum just earlier. Anyways, thanks for sharing!

BTC Update....

Exited the trade I placed earlier at 6334 for 11 point win.

The large drop seen an hour ago could signal a reversal down to the area the price reversed from earlier.

Keep watch, I'll update you tomorrow.

Sorry, terryboy.

I saw your post earlier but forgot to reply and say thank for your kind words.

Here's my Etherium update....

Note: Sorry this took so long, guys. My internet went down a couple of hours ago, so I wasn't able to post.

Etherium Update....

In last nights update, Etherium was heading back towards the source of the drop the price has spiked into a few hours prior and earlier on in the day.




Unfortunately, it didn't make it back, and the price instead started falling.

It fell for most of the night but early this morning, around 9:00 am, a huge drop took caused the price to not only break through the area I said to watch for a reversal but also the area below (see the candle with the arrow pointing to it).

The drop ended once it reached the bottom buy area, and has now recovered to be inside the original buy area I said to watch for a reversal.

Unlike the typical big drops we see, this one is really interesting.

The reason why.....

Because of the length of it's wick.

If you look at the candlestick that shows the drop (the one with the black arrow pointing to it) you'll see it has a really long wick at the bottom.

This is because someone decided to buy a huge amount of Etherium.

When the price fell into the bottom buy area someone saw that as an opportunity to buy Etherium at a low price. Of course, when they buy it causes the price to rise, resulting in the big wick we see.

So this big wick tells us that somebody has bought a TON of Etherium, which in turn, suggests we are going to see the price rise over the coming days.

The point you need to watch now is the area marked below.



This area was originally drawn based off the large rise we saw on the 31st October, but I've redrawn it to encompass the bottom of the big wick, because that's the point where somebody decided to buy a large amount of Etherium.

If the price falls back into this area it has a good chance of causing the price to reverse.

The reason why is because the person who bought a ton of Etherium DOES NOT want the price to fall below the point he bought at (the bottom of the wick), because if it does, it will cause him to lose money.

So if the price falls back into this area it's highly likely the person who bought will either buy again, causing the price to reverse, or, if this person is part of a group of traders/investors who partake in buying large quantities of Etherium, will get one of his/hers fellow investors to buy to cause the price to reverse.

In any case, watch for candlesticks with large one sided wicks and candles with bodies much bigger than the surrounding candles to appear when the price falls into the area, as that will be a good sign people are buying to try to cause the price to reverse.

Quick Bitcoin Update.......

Bitcoin has continued to rise after it reversed earlier.



The rise seems to be getting stronger, so we could see the high broken in a couple of hours and then maybe a rise up to the top blue area either late this night or sometime tomorrow.

I'll keep you updated anyhow.

BTC Update: Possible Reversal?

I have to get this one out quick, guys, as the market keeps moving.



Last night Bitcoin fell into the buy area I said to watch for a reversal.

Whilst a reversal (blue arrow) did take place when the price entered the area, it was small and only lasted for a couple of hours before another large drop pushed the price down and through the area.

The price is now reacting to a smaller buy area that I forgot to mark in my previous analysis.

So far two reversal candlestick have formed at this area (black arrows) and the price is now moving out of the area towards the high made earlier (green arrow).

I'm long from the second reversal candle (6323), so we'll have to see how things play out over the next few hours.

Etherium update coming soon.

Here's a little guide on how to place a stop loss, for the people who keep asking me via email.

How To Place A Stop Loss In The Right Place

Placing a stop loss in the right location is often the difference a successful trade and a failed one.

Most traders think it's okay to place a stop loss anywhere.

.....It's not.

A stop loss MUST be placed at a price that, if reached, confirms your view or analysis of the Crypto to be incorrect.

In other words.....

If you buy a Crypto because you think it's price is going to rise, you need to place a stop at a point that, if broken, confirms the price is likely no longer going to rise anymore.

There are many points that are good locations for you to place a stop loss.

However, the best point is at the most recent swing low.

For those who don't know, a swing low is what's created when the price of a Cryptocurrency stops falling and starts rising.



They're usually (but not always) created by traders and investors buying a large amount Crypto, and can be found on every currency and on every timeframe.

Because they're created by traders and investors buying a large amount of Crypto, swing lows are great places to put your stop loss.

The reason why is simple:

Somebody who buys a large amount of Cryptocurrency doesn't want the price to fall below the price they've bought at, as it will cause them to lose money.

A swing low, because it's created as a result of someone buying a huge amount of Crypto, is a point that someone doesn't want the price to break, meaning....

If the price does fall below a swing low, it's a good sign the traders/investors who caused the low to form have sold their Crypto, thus, is a sign the price is now more likely to continue falling than it is rising.

How To Find A Swing Low (The Easy Way)

Explaining how to find which swing low to place your stop at is not easy.

Thankfully, there's an indicator that marks all the lows automatically.

Here's how to set it up:

First, go onto tradingview and open up the "Indicators" tab.



When the tab opens, enter "Swing" into the search box and then click the "Swing high low & support and resistance by patternsmart" indicator.



A bunch of blue and red dotted lines will appear.



Each of these blue and red lines mark where a swing low (and swing high - which is the opposite) has formed, red lines show the swing highs and blue lines show the swing lows.

Now, we only need to see the swing lows.

So the next step is to change the settings of the indicator so that it only shows the swing lows (blue lines) and shows the right lows, because at the moment it's only showing the most significant lows, we need to see the less significant ones aswell.

To change the settings, right click one of the dotted lines and select "Settings".



In the menu, change the "Swing Length" to 6 then click the "Style" tab and de-select the top two plot boxes.



The chart should change to now only show red lines.



With that done, you can now begin using the lows to place stop loss orders.

Easy.

Trade Example

A stop loss ALWAYS has to be placed immediately after you buy some Crypto.

So right after you buy you need to find the most recent dotted line, figure out what price it's at, and then set your stop loss to the same price.

Here's an example.....



Let say you buy some Bitcoin on the 31st October (blue arrow).

Now you've bought, you need to find the most recent swing low (dotted line) and figure out what price it's at.



In our case, the most recent low is found at 12212  and formed on 31st Augast.



So now you go onto your Broker or Exchange and set the price of your stop loss to 12321.

Summary

There you go guys, just a quick little guide on where you should place a stop.

I'll have my analysis of Bitcoin and Etherium up soon, stay tuned.

It is really a great work. I was also impressed with the website as well, considering that it is new, but reading through it, I can see it has a lot of information that can be helpful to both newbie and regular traders as well.

It is really a good thing to see someone who is really looking to share a great deal of knowledge in this space, and really, this is one thing we should always look forward to in this space. It is really a very good initiative like someone rightly said, and the sky is your starting point bro. Nice one and I believe a lot of people will learn a lot from you.

Thanks Pom.

It's not easy to come up with a simple strategy, at least not for the current conditions. When the price is trending, like it was last year, loads of different strategies work, like the crossover on my site for instance. However, when it starts ranging like it has been for the past few months these strategies stop working, so you have to use other strategies, and these are usually a lot more complicated than the ones you use for trending markets.

I'll have a think anyway, see if I can come up with an easier strategy for beginners.


To be honest, I never knew steemit pay people to post. I thought people just posted because they wanted to, didn't realize some were being paid for it. Even so, I'd rather have own my site where I can post and control the content than post on something like medium or steemit. Plus, you can do a lot more on your own site than you can posting on someone else's.

I didn't know that not having post under "top post" affects seo. I'll go and put one under it now.

Do you know a lot about Seo, I could use some help with it?

BTC Update......

A couple of hours ago Bitcoin dropped into the area I said may cause the price to reverse in my previous post.



As you can see, the price didn't reverse at the area. Instead it dropped through, reversed for 30 mins, then reversed again, and is now falling towards the buy area I marked earlier.

This buy area is the new point you need to watch for a reversal.

I'm not sure if the area will cause the price to reverse, I don't think it will since the previous rise failed to break today's high - which is a usually (but not always) a sign it will drop quite a bit. However, I can't be sure, so keep watching the area anyway.


Etherum Update.....

The rise that started late this morning continued this afternoon, resulting in the price moving deeper into the area created by the drop on the 29th.



After it moved into the area the price fell, but it's now moving back towards to it once again.

If the price manages to make it back into the area expect to see another drop when it reaches the far edge, around the point where I've said "expect to see a drop if the price reaches this area".

The point to watch now is the blue area created by this mornings rise.

This area wasn't confirmed when I posted my earlier ETH update, but the fact the price continued to rise has now confirmed it to be valid, so it has a decent chance of causing the price to reverse if it falls back to it.