Hey guys,
Sorry I haven't posted anything in the last few days.... I've had the flu since Wednesday, so haven't been feeling too good.
I hope nobody lost too much during the crash. I lost a little on Bitcoin, not during the HUGE drop (luckily enough) but after, trying to figure out where the price would stop falling to catch a reversal back up.
Anyway, I just wanted to let you guys know that I've decided to take a small break for a couple of weeks. As you can imagine, trading, posting updates, and writing articles all the same time is pretty challenging. I've wanted to get some important articles out for a few weeks now but I haven't had the time to do them since I've been trading and posting daily updates on here. So I've decided to stop trading and doing the updates for a couple of weeks to get these articles finished.
Once I've got them done I'll be back to doing the updates, though maybe not as frequently as I have been for a the last few weeks. I'll give you my analysis of Bitcoin and Etherium later on anyhow, just so you have idea of what to watch for.
Here's my answers to your posts...
Your site is good and can be a reference to mine trading science because I also continue to learn to improve skills in trading, because I also often experience mistakes so I experience losses. I hope we are all successful in the trade
because in good trade and always success it must have great patience and never panic when market conditions decline, because a true trader must know how to deal with difficult situations
Exactly all these successful stories are filled out with losses and mistakes. They are not winners of all the time rather every one of them have been to such drastic losses and problems. But what makes them successful now, the will to do something and determination that made them courageous and now they are earning so huge from bitcoin and trading.
Very true. Lots of people think that pro traders win every trade and make money all the time, which just isn't the case (well, apart from the whales - they probably do win most of the time). I have losses just like everyone else. The important thing is that I understand WHY I lose so I can fix the underlying mistake that caused it. Most people don't know why they lose 1. because they're not using a proper trading strategy that has defined rules, and 2. because they either don't know what emotional/psychology related mistakes they make or they know what these mistakes are but delude themselves into thinking they're not really mistakes - probably to pass blame and not deal with the fact they did something wrong.
To improve and make more money you MUST be know what caused you to lose.
If it was something to do with your strategy either figure out a way around it or, if it's causing you to lose very frequently, change to a different strategy completely. If you made a mistake because of your psychology/emotions, make a note of what the mistake was and then try not to make it again. Making a note of all the different times you've made the mistake, along with how much money it's caused you to lose or miss out on, helps you understand costly it really is, and over time you'll find yourself making it less and less.
Hello All,
In this thread I'm going to detail how I trade Cryptocurrency.
I've been trading Crypto for the past 6 months with pretty decent results.
The strategy I use is based on a culmination of different techniques and knowledge I picked up in my time trading the Forex market, which is what I traded before moving to Crypto at the beginning of the year.
There are two parts to the strategy.....
The first part is what I use when the a large rise/bull run is taking place - (you can learn how to use this on my site - see below)
And the second part is what I use when the market is slow or ranging/consolidating.
My strategy is simple to trade but requires some explaining, so I'll be posting pics and doing analysis of different trades to help you understand why I took a trade and what you can do to begin doing the same.
Lets get to it.
P.S I've also started a website that has free information on Cryptocurrency trading.
https://www.cryptotradingschoolonline.com/It's a new site, so there's only a few articles and things on there at the moment, but I'll be adding more articles to it in the near future, including ones that go into more detail on the techniques you'll see me use in this thread, so keep an eye open for them.
Also, if you have any questions you can ask me on the thread or email me at
[email protected]Thanks Maxpips, this is really going to help a lot of people, myself included because I’m not all that perfect in trading and I haven’t taken out time to learn.
Just checked out your website and it’s quite good. I will also like to add that I once traded forex but quit due to it wasn’t much of what’ I expected it to be, but I didn’t made some profit from but it was difficult. After a few years of quitting forex trading, a friend introduced me cryptocurrency trading.
Thanks Osman. It's not where I want it to be just yet but it's getting there.....slowly. Yes, forex trading is very, very tough. I had big losses when I first started. It took a long time for me to figure out how to make money and even when I did I still wasn't confident. Crypto is definitely easier in my opinion, at least with the strategies I use.
Hello there maxpips. I really look for your thread to see what's your say about this dump but I guess you're still out and busy.
So yeah I'll just wait for your new post, tbh I'm looking forward to read more about it as I somehow depend on your charting. I know it may sound funny but you got me there.
Oh, really. Damn, I feel some responsibility now aha.
Like I said, I'm taking a break for a couple of weeks to get some articles done and then I should be back.
There will be an article that shows you how to trade the buy area/sell area strategy out this week (or weekend). That might help you do your analysis until I get back. If something big happens I'll try to get some analysis up to help you, I can't make any promises though.