Topic: I'm A Professional Trader, Here's My Strategy - page 16. (Read 21975 times)

i am not a pro still but my strategy is  price action is simple practice as many times till you master it and start making profits from what you have learnt and then search for other things

BTC Update......



Nothing has really changed on Bitcoin since last night.

I still think if a rise up to the source of the drop that took place on the 29th is going to take place we'll see a reversal begin inside the green reversal zone, so monitor that area for signs of a reversal e.g candles with large one sided wicks and big bullish candles.

Both of my trades are now closed, I'll be looking for re-entry inside the reversal zone.



There is a small zone on the 5 minute time-frame that could cause a small reversal too, so keep that in mind if you're planning on buying.

ETH Update......



Etherium hasn't changed much either.

Since the big rise the price has just consolidated between the 197 low and the 199 high.

Keep watching the green area for signs of a reversal.

it's true that with information about this good trading strategy that can make us all able to do good and profitable trading in the years to come and so on

Thanks Nydiacaskey.

Regarding Etherium, it's too early to tell to be honest.

I think a rise up 242 or around that point could take place in the near future, possibly by the end of the year, but a move all the way back up to last years highs is too far out for me to predict.

I'll keep you updated, anyway.


That's right Karlinz, the large dips will break all support and resistance levels. However, they won't break all buy and sell areas....

For example:



At the beginning of Bitcoins final big rise a buy area was created.



When the price crashed/dipped it stopped falling and reversed once it hit the buy area.

So while lots of support and resistance levels were broken by the crash/dip, not all buy and sell areas were.

I'll have my BTC, ETH and DOGE analysis up later, guys.

Not feeling too good today - got really bad flu - so it might be up a bit later than usual.

I think this has to do with trading based on some technical analysis, some of these analysis and strategies work momentarily but when real huge dips come, it will break all resistance and support. There have been some arguments that crypto do not obey TA and with some experience I think I agree. Apart from just using the candle sticks, the use of other singnal tools should equally help

Very nice analysis there Maxpips! I read from 1st page to last and learned a few tips on when to buy and sell on both Bitcoin and Ethereum. Your site will surely get a lot of visitors with this kind of work. Do you think Ethereum will bounce back to its previous price like last year?

Thanks guys. Got some good stuff coming soon, stay tuned.


Etherium and Dogecoin Update......


Like Bitcoin, Etherium and Dogecoin also reversed after falling into their respective buy areas.



Dogecoin is currently rising toward the sell area created by the drop on the 24th.

If it makes it into this area expect to see some kind of drop take place.



No signals to buy have come up yet (the signals aren't very clear on Dogecoin, due to how few people trade it) but keep an eye on the area between 1323 - 1224, as a drop and subsequent  rise out of there could occur before the price moves into the sell area.



Etherium isn't really doing much at the minute, it's just kind of meandering around and not going anywhere.

I'm not sure whether we'll see this rise continue up to the source of the drop. I think a fall back into the buy area or to the point where today's rise started is more likely than a continued rise.

We'll have to wait and see.

Thanks for the topic, mate. I like your strategy and how you describing it.
Usually I learning several analysis of different traders (in addition to my own), you'll be one of them

This is really insightful and I learned a lot in this thread. I was planning to buy a laptop to participate in some competition trading and day trading. I will surely use some of these tips especially reading the graph on when to buy or sell. Thanks to you guy's.

BTC: HUGE Reversal Could Be Start Of New Bull Run......

A few hours ago Bitcoin dropped into the new buy area I said could cause a reversal to take place earlier this afternoon (see my 12:13pm post).



As expected, a reversal did take place, but it was much, much bigger than what I thought we'd see.

It started after a reversal candlestick with a large one sided wick formed (these candlesticks usually indicate the price is about to reverse, though not always) which I what used to place my first trade.



A big rise pushed the price into the zone that caused last nights drop and then another reversal candlestick formed on the 5 minute chart, which I used to add to my position.

Note: If you see a reversal candlestick this small DON'T BUY and don't take it as a signal the price is about to reverse. The candles that usually cause the price to reverse have long wicks like the one that caused the reversal to begin (see previous image). I only bought again on this tiny candle because I was at a much higher profit than what I expected. If it wasn't for that, I wouldn't have bought.

After the second reversal candle formed, another large rise caused the price to break through the zone completely.

The price has now fallen slightly as traders/investors take profits off their trades, but I think we could see another rise push the price up the source of the October 29th drop either later on tonight or tomorrow morning.

The point to watch now is the area between 6265 - 6285.



Usually when a sharp rise like this takes place the drop caused by traders and investors taking profits tends to end around the point where the previous high formed.

If you look at the image you can see the 6265 - 6285 area encompass the previous high broken by the rise as well as a small pause that took place just before the last big rise took place, which is another point the price often reverses at in these situations.

So if you see the price fall into that area watch for candlesticks with large one sided wicks to form and/or bullish candlesticks that are significantly bigger the surrounding candles, as these are both good signs the price is about to reverse.

Trading is really all about the knowledge and information so if you are lack of knowledge try to increase your skills and your information related to trading, now a day there are a lot of sites who are sharing good knowledge about trading, it is all about having skills to deal with the problems wisely such as price fall and a few more minor issues.

Nice job dude! I hope that this will give me a lot of insights about trading crypto and would help me a lot in my coming years trading it.

Thanks Simu.

BTC reversed as expected.

Bought at 6224 after seeing the reversal candlestick form on the 15 min chart, then added at 6270 after seeing another reversal candlestick on the 5 min chart.

We could see a move up to 6412 in the coming days.

I'll go over it in more detail later.

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BTC Possible Reversal?




Bitcoin is now inside the buy area I mentioned earlier.

A reversal candlestick has just formed on the 15 minute chart and could signal the beginning of a reversal back up to the area the price failed to break through last night.

Monitor the situation closely.

Here's my thoughts on Dogecoin Dmty.....



On the 25th - 26th October some entity (probably a Whale trader) decided to buy a ton of Dogecoin, as evidenced by the fact that a huge rise took place after the price had been falling for ages.

Them buying has created a buy area which I think has a high probability of causing the price to reverse.

if I were you I'd watch for signs of a reversal when the price enters the area.

Large bullish (green) candlesticks are a good sign as are candlesticks with large wicks on the bottom, so if you seem them get ready, because a reversal might be imminent.

Also, if you do enter make sure to put a stop loss below the bottom of the area, because if the person who bought all that Dogecoin to cause the rise is still in his trade, he won't want the price fall far below where he entered, which is inside the buy area. So having a stop just below the area is a good idea because if the price breaks the area it's a good sign a reversal won't be taking place.

If the price does reverse the first target will be the sell area, as that's the last know point where lots of people wanted to sell, so if it comes back there those people might want to sell again.

I'll keep you updated anyhow.

Thanks Bawnsugar, glad to have you on board.


BTC Update.....



The price wasn't able to break through the zone it raced into last night (I ended up selling at 6271 for a 16 point win) instead it fell back towards yesterday's lows, but today has recovered somewhat and is now in between yesterdays low and high.

At the moment it's difficult to tell what the price will do.

A large bearish reversal candle formed 45 mins ago but that seems to be countered by the bullish reversal candle that's just formed, so I'm not sure what we'll see happen. I do think a move back into the zone is more likely than a drop, though. We'll have to wait and see.

If the price does fall, watch the new buy area for signs of a reversal.

This buy area is found between 6210 - 6250 and has formed as a result of three reversals all taking place from similar prices, which is often a sign of the Whale traders buying.

If the price falls into this area and then starts showing signs of a reversal e.g large bullish reversal candlesticks and candlestick with large wicks on the bottom start appearing, it could sign a reversal back up to the zone will take place, so keep watch.

This is arguably one of the best threads on this forum at the moment. Trading strategy and knowledge is highly needed by those plan to remain in crypto long term, especially in these times when the market isn't what it used to be before. I do little of trading, so any piece or website that broadens my knowledge in trading, I do not joke with them. I'll definitely be bookmarking this thread and digest every piece on your website. Good job man!

About the Telegram app, I think you should setup one for quick chitchats and please drop a link here when you do.

No problem, daviidalpert.

I'll be detailing a strategy that's better suited for the current market conditions in a few days time, so keep an eye for that.


This is the first I've ever heard of it lol. Must be a Crypto thing

I'll take a look at it once I've put my analysis up, some interesting things happening today.

.

I can give you my thoughts and analysis.

I can't predict or 'tell' you what the price will do but I can give you my best guess.

Are you holding a position open now, if so, from what price?


That's the thing, it's easy to make money when the market keeps going up and up like it did last year but when it falls it becomes much harder, unless you start going short on margin - which can be pretty dangerous. Don't worry too much though. I think we'll see some sort of large rise begin either December time or early next year. A lot of large banks and institutions are thinking of entering the Crypto market. If that happens a huge move high is guaranteed, maybe not on Bitcoin but definitely some of the other Crypto's.

You are a professional trader.Now I am also learning some techniques to make me professional.Because I am still lacking in trading.thank you for your sharing.