Let us all together develop a Price Action Trading System for Bitcoin - page 2.

New.in.trading

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Activity: 211

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BtcUsd could not manage to turn inside that H4 bull area, instead it smashed that level. So now I expect 1 of 2 things to happen:
1 Price makes a Lower High, creating a new Bear Territory
2 Price rallies up to the most current and untested Bear Territory, and gives a short entry there

Lets see what we get. Option 3 is of course, price breaks the Bear territory and goes long, without giving an entry.

New.in.trading

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Activity: 211

Merit: 20

Quote from: Ararbermas on May 12, 2021, 02:16:23 PM

That's actually what always happen before i draw a order.. Wherein i dont really need a sort of fluctuations that showing a support line and you need to mark the target as soon as possible while its still at the support level.. Nope that kind of technique above is the most useful in my opinion (from OP) . And in fact i'm not actually basing on the tools or indicators, because sometimes i always use that strategy above because of some thoughts, such what if its goes more something like that bla bla bla. . So on that way you can't make any doubts at all because if it reach your target then it's good because it will increase after as its at the support level and while its still inside of the bolinger, and indeed you can make profits afterwards, If not then it still good because you are in a safe place wherein no worries and you still have plenty of time to mark the next target again.

Thank you for sharing your thoughts! I try to not use any indicators at all. Nothing wrong with indicators, just not my cup of tea. Indicators basically highlight information that is on the screen already, so who wants to use them, its okay.

What I like about that setup is: You have some specifics to happen, before even considering an entry. And mostly its enough to look at a chart every 4 hours. that is the most relaxed way of trading, imho. No stress involved.

Ararbermas

sr. member

Activity: 2016

Merit: 283

That's actually what always happen before i draw a order.. Wherein i dont really need a sort of fluctuations that showing a support line and you need to mark the target as soon as possible while its still at the support level.. Nope that kind of technique above is the most useful in my opinion (from OP) . And in fact i'm not actually basing on the tools or indicators, because sometimes i always use that strategy above because of some thoughts, such what if its goes more something like that bla bla bla. . So on that way you can't make any doubts at all because if it reach your target then it's good because it will increase after as its at the support level and while its still inside of the bolinger, and indeed you can make profits afterwards, If not then it still good because you are in a safe place wherein no worries and you still have plenty of time to mark the next target again.

New.in.trading

member

Activity: 211

Merit: 20

Not much to say today, BtcUsd has not yet reacted the way I need it, to get an entry.

New.in.trading

member

Activity: 211

Merit: 20

Coming up next:
Another Trade!

Lets see if btcusd closes inside the H4 bulls territory, and then leaves it again to close outside. In this case, I will try another long trade and then look in the M30 for more options, just as in the example above.

Here is the current situation:

New.in.trading

member

Activity: 211

Merit: 20

Lets see what could have happened in the M30... Remember, the approach is always the same, as posted in the original post!

I did a visualisation on the chart. In case there are any questions, feel free to ask them!

New.in.trading

member

Activity: 211

Merit: 20

Hi friends, how are you doing?
check this post, [urlhttps://bitcointalk.org/index.php?topic=5327294.msg56938861#msg56938861]#41[/url] to see the original setup, and the trade when it "developed" and then see what happened:

same image, only working:

So in this case, price went to our favour. I will now (afterwards) go down to M30 and look if I can find a better entry, so next time I might take the entry in the lower timeframe.

New.in.trading

member

Activity: 211

Merit: 20

Quote from: rahmatrf331 on May 07, 2021, 02:44:20 AM

Quote from: New.in.trading on March 30, 2021, 05:59:39 AM

Hey peeps,
I just recently kind of stumbled over a thing, I want to test in the long run.

I will start with the basics today and post a thing every other day. Every constructive cirtisim/info on how to maybe improve this technique, is highly welcome!

Lets get started then:

Most important
I need a trend. In ranges this thing will not work. Or give ... suboptimal results.

So, if there is an Uptrend, I basically wait for price to retrace. Once price forms a low, I will then draw an area around the bearish candle with the lowest low. What I have seen many times, is that the following then happens:

-Price leaves that area
-Price comes back into that area
-Price leaves again and continues its way

So... Hit me with your thoughts!

Thank you for the information, I see that the H4 chart that you published is very helpful in combining the H4 area with several M30 areas together.
I hope this will be the same basic concept in creating a trading strategy that is significantly robust.
is there a secret published by the communites in building trade principles?

Thank you for your question!

Yes it makes sense, to apply the H4 pricniple to the M30 but only after the H4 has an valid entry! Its like in chess, where you need a strong figure covering a weaker one. So the H4 would be a rook, or the queen, where as the m30 is a Bishop or Knight and the M5 is a only a Pawn. So make sure your Bishops/Knights are covered by the queen or a rook (meaning: wait for the H4 to give an entry, and then wait for the M30 give an entry. This way you can use the H4 Target, and the M30 stop, what changes the RR significally!)

I am not sure I understand your question:
is there a secret published by the communites in building trade principles? could you rephrase that?

New.in.trading

member

Activity: 211

Merit: 20

Quote from: beerlover on May 05, 2021, 03:04:00 PM

Quote from: New.in.trading on March 30, 2021, 05:59:39 AM

I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

I honestly do not believe that bunch of strangers online could get together and agree on something. The main feeling of internet is that many people get together and even if we get together as 100 people, there will be at least one that will go against what everyone else says even if only to get more attention and few of those 99 people will try to persuade why they are right and that one person is wrong but 90+ of those people will just ignore and that is when the troll will get a lot more dangerous and start talking about how he is right.

This is why we should not try to get together and build something, instead anyone who wants to should go ahead and build something and share it with the world and ask what is wrong with it, if there is anything wrong with it then they will just fix that which would be a better way to do it if you ask me.

Thank you for your view! I get your point and believe me, I know what you are saying about trolls and working together with strangers in the internet is... not always the best possible idea. Still I think whoever wants to to add something, can add it. Who wants to take this basic thing and implement it, in what he/she/it is doing, can do so. If someone has some constructive critics for me, I will take it. If its only destructive rubbish, well then... so be it. Me personally I take this this as an opportunity, to maybe find a cool thing that works, and take it to another level. This way, at the end of this thread theres either a clear statement that this experiment failed terribly, or that it worked out great and therefore who ever reads through it, can then learn it step by step.

Long story short: I believe there are good and cool ppl out there, willing to share helpful views. If now -> so be it. I will still walk this way, either to success or to failure.

rahmatrf331

member

Activity: 588

Merit: 12

https://i.imgur.com/3fXQC4m.png

Quote from: New.in.trading on March 30, 2021, 05:59:39 AM

Hey peeps,
I just recently kind of stumbled over a thing, I want to test in the long run.

I will start with the basics today and post a thing every other day. Every constructive cirtisim/info on how to maybe improve this technique, is highly welcome!

Lets get started then:

Most important
I need a trend. In ranges this thing will not work. Or give ... suboptimal results.

So, if there is an Uptrend, I basically wait for price to retrace. Once price forms a low, I will then draw an area around the bearish candle with the lowest low. What I have seen many times, is that the following then happens:

-Price leaves that area
-Price comes back into that area
-Price leaves again and continues its way

So far, all I can say that it works best on the H4 chart, but its worth to combine the H4 areas with some M30 areas, drawn the same way.

Have a visual reference here:

I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

So... Hit me with your thoughts!

Thank you for the information, I see that the H4 chart that you published is very helpful in combining the H4 area with several M30 areas together.
I hope this will be the same basic concept in creating a trading strategy that is significantly robust.
is there a secret published by the communites in building trade principles?

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: New.in.trading on March 30, 2021, 05:59:39 AM

I hope the basic principle is clear, and maybe you guys have the final spice to add, so this can become the best community created trading strategy ever. From what I have seen in the past, this does not only work for BtcUsd but also for most other things (even forex and some stocks, but stocks work differently so that is okay).

I honestly do not believe that bunch of strangers online could get together and agree on something. The main feeling of internet is that many people get together and even if we get together as 100 people, there will be at least one that will go against what everyone else says even if only to get more attention and few of those 99 people will try to persuade why they are right and that one person is wrong but 90+ of those people will just ignore and that is when the troll will get a lot more dangerous and start talking about how he is right.

This is why we should not try to get together and build something, instead anyone who wants to should go ahead and build something and share it with the world and ask what is wrong with it, if there is anything wrong with it then they will just fix that which would be a better way to do it if you ask me.

New.in.trading

member

Activity: 211

Merit: 20

HEy! Finally another trade!

Check this BtcUsd Trade out, and lets see how it goes:

https://www.tradingview.com/x/JLGPKfau/

New.in.trading

member

Activity: 211

Merit: 20

So what happened then at BTCUSD?
-> Price created an Bull Area -> Bulls could not succeed -> Bull area failed -> As there was no entry, this is actually a good sign for ma, as this means, fail entries are sometimes prevented. See the pic for more details:

https://www.tradingview.com/x/bZIbn779/

Wilhelm

legendary

Activity: 1652

Merit: 1265

Quote from: OgNasty on March 30, 2021, 03:21:35 PM

I’ve got a trading system that works pretty good. I accumulate as much BTC as I can and then every 4 years I sell a bunch at the end of the year. December of 2013, 2017, and soon to be 2021 have all been or will be good to me. When you back up and look at a longer chart things get pretty simple.

I believe the old saying is, “Don’t run down and fuck one cow, walk down and fuck them all.”

This is the system that work because it’s based on long term trending.
I’m doing this method, this year too. Hop out when the FOMO and increases are too insane to sustain.
Then after 300 days jump in on the low again....

New.in.trading

member

Activity: 211

Merit: 20

Lets get to TA here, now:
Price has created a Bull area, left it, closed back inside it and is about to close in 80 minutes. IF BtcUsd closes outside (to the top) again, this could be a potential entry and then I believe, its very possible that price will test the current ATH again. I have put things in the chart, to summarize it. Please not the marked up buy trade is not active, and will only become valid, IF the current H4 candle closes outside that bull area!
https://www.tradingview.com/x/5gEPf3yC/

New.in.trading

member

Activity: 211

Merit: 20

Quote from: rahmatrf331 on May 01, 2021, 10:58:55 AM

Quote from: arufox on April 08, 2021, 06:57:38 PM

Quote from: OgNasty on March 30, 2021, 03:21:35 PM

I’ve got a trading system that works pretty good. I accumulate as much BTC as I can and then every 4 years I sell a bunch at the end of the year. December of 2013, 2017, and soon to be 2021 have all been or will be good to me. When you back up and look at a longer chart things get pretty simple.

I believe the old saying is, “Don’t run down and fuck one cow, walk down and fuck them all.”

You are an old adopter, so much experience so you know at end of the year must sell a bunch for every 4 years, I join crypto in 2017 and I don't have an experience like you, but after 2017 I will also do the same, I will sell my asset maybe all in, because based on data Bitcoin and altcoin will be dumped massively

Old players are certainly more familiar with crypto trading every year and know how bitcoin moves every hour. but if you still get stuck with the same error, it's the same as a novice player. I see every year the value gets higher and is the king of coins on every exchange.

I rally think Trading and Holding are different things. Not that it would be bad to sell a bunch all 4 years, if it works for you, great! But if you want to pay your monthly expenses, you're gonna have a though time, getting paid only once in 4 years. Me personally, I am doing all this, to escape my job, and dont spend all day at the charts. I want to see some good opportunites, take them, make some profits and then move on and wait for the next good option. I cant tell my family, there will be no food for the next 4 years, as daddy needs to hodl some more...

rahmatrf331

member

Activity: 588

Merit: 12

https://i.imgur.com/3fXQC4m.png

Quote from: arufox on April 08, 2021, 06:57:38 PM

Quote from: OgNasty on March 30, 2021, 03:21:35 PM

I’ve got a trading system that works pretty good. I accumulate as much BTC as I can and then every 4 years I sell a bunch at the end of the year. December of 2013, 2017, and soon to be 2021 have all been or will be good to me. When you back up and look at a longer chart things get pretty simple.

I believe the old saying is, “Don’t run down and fuck one cow, walk down and fuck them all.”

You are an old adopter, so much experience so you know at end of the year must sell a bunch for every 4 years, I join crypto in 2017 and I don't have an experience like you, but after 2017 I will also do the same, I will sell my asset maybe all in, because based on data Bitcoin and altcoin will be dumped massively

Old players are certainly more familiar with crypto trading every year and know how bitcoin moves every hour. but if you still get stuck with the same error, it's the same as a novice player. I see every year the value gets higher and is the king of coins on every exchange.

New.in.trading

member

Activity: 211

Merit: 20

So BtcUsd worked a little around this area, but in the end it managed to continue bullish!

from the three M30 Areas, the first one gave an entry, but this would have been a BE trade for me.
The second area worked great and even if the first one was a loss trade (worst case), the second one eliminated the loss from the first one.
The third area was only tested, and gave no good entry.

Conclusion: If there is a cluster of areas, wait for clear signals, best seems to wait until all are at least touched/tested:

https://www.tradingview.com/x/7kfWQChg/

Lets take a look at that H4 area, wich was a little sketchy as it was a consolidation low:
https://www.tradingview.com/x/SldSp8nq/

New.in.trading

member

Activity: 211

Merit: 20

Okay, so price has tested that first of those 3 Bull areas, but I did not dare to even take a paper trade. So until I get some more experience with double and tripple areas, I will not touch them! Lets see how this thing continues. Here is the 30 Min Chart:
https://www.tradingview.com/x/xlNOQ3aW/

and then there is the H4 chart, I cleaned it up a bit, so we can see more of whats going on there:
https://www.tradingview.com/x/JQ3ziZc0/

New.in.trading

member

Activity: 211

Merit: 20

Next update for BTCUSD
Price has not really moved anywhere... I am still waiting for it to enter and leave my bull areas, to then take a demo buy.
https://www.tradingview.com/x/nL87PoXB/

Topic: Let us all together develop a Price Action Trading System for Bitcoin - page 2. (Read 773 times)