Topic: I'm A Professional Trader, Here's My Strategy - page 9. (Read 21972 times)

Too great, I am a new trader, feel very lucky to read this article. It will help me reduce the risk of losing money when I start trading. It would be great to have many posts sharing experience like this. I love the third and fifth tips

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Sure thing, Cryptopower. I'll try to get an article or post about it out in the near future. It was definitely difficult though, I can tell you that right now.



Honestly? I'm not sure. I think there's a good chance it could be the bottom but for how long, I don't know. For now, my advice is stay out the market and wait for things to calm down a bit. The past couple of weeks have been so crazy that it caused a lot of uncertainty, both with traders (including me) and investors, hence the reason for the big dumps we've seen. I think it's best to just watch from the sidelines for a while, see what the price does over the next week or so.


It could be Obi, but I'd wait for more confirmation first. We might see a reversal back up the sell area created by the recent drop and then another large drop lower before a big trend reversal begins.




There's a few but they're not really books on strategies or stuff like that, they're more about understanding certain concepts and truths about the market. Like one of them "Time Compression Trading" talks about how the Forex market is a zero sum game (the Crypto market is too) and the implications that has for you as a trader.

Another one would be "Beat The Forex Dealer". This is also about Forex but the stuff contained in it applies to Crypto aswell.

I can email them to you if you're interested?

They cost quite a lot to buy from what I remember, I think "Time Compression Trading" is like $50 on Amazon, so you'll save quite a bit if I send them over.

Let me know anyhow.



An article on the buy area/sell area strategy I use will be out within the next week. This strategy works well when the price is moving sideways - as it was before the big drop - and when it's not trending, so take a look at that if you haven't much luck with your current strategy.

A new post on how to use Fibonacci retracements is now on the site.

Check it out if you're interested.

https://www.cryptotradingschoolonline.com/fibonacci-retracements-easy-to-convert-add-to-paid/

Any good trategy that i also know always failed because of the price of bitcoin that drops it price other altcoins also affected so i hate the way that bitcoin price going down.

Any books you recommend or feel are a 'must read' for people who want to be serious about trading?

Already read Trading in the Zone, amazing book about the trader mindset.

Looks like a possible trendreversal? Lets see what happens next.

appreciates so much my friend
gr8 work

always here 4 u 


namaste

Hello Maxpips.
What can you say about current situation? Was $4000 final bottom for BTC or we can drop lower?
I am completely uncertain: to stay out of the market now, to open a short position or a long one? Opinions are different everywhere, no one can say anything with confidence. Almost panic )

Yes, emotions will also affect traders, even the most professional ones. Meanwhile, we need to do everything to be realists - it will help us avoiding really many serious mistakes.

This is great! Thanks

Experts believe trading isn’t easy. And I believe nothing is easy here in this world. Nether your birth nor your death, everything is an exam. So just be yourself and believe in your God.

Great job. I would also like to read your story as you came to the forex market, how many years of experience, was it difficult at the very beginning and what results did you achieve

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...


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.


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.



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.

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.

Indeed and of a truth your article has being helpful. thanks a lot

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.

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.

I think this is an exam of a trader that how he would be dealing his trade. Sometimes they have questions and they ask on some forum about their query, they contacted with some expert traders. Some gives them advices resonating with their own mindset and few advices don’t hit directly. So, people start getting confused. They must make difficult decisions at that time.

Thanks a lot, will look into the article as soon as i'm on my laptop again.

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