My trading strategy - page 2. | Bitcointalksearch.org

darewaller

hero member

Activity: 2926

Merit: 640

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

I had come across lots of such trading strategies on forex forums but not sure their effectiveness on all types of market fluctuations. I mean I have tried one similar strategy but that did not remain as my all time favorite strategy as I found that strategy was not working when market enters into stronger bullish or bearish conditions.

I mean we must need more than one strategy and all of them must say same range of signals to buy or sell. This way we can withstand against any kind of market fluctuations too. Just depending on only strategy will definitely lead to disasters when market turns too volatile.

SvonioneFromMangoCoinz

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Activity: 663

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https://streamies.io/

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

I had my trading method, but I had a very bad problem with managing my capital. My opinion about the market is quite correct when doji candles and reversal candles appear, but I often run out of capital before it reverses my way. So can you share with me how to manage capital?

enhu

legendary

Activity: 2492

Merit: 1018

Quote from: Gafman on April 18, 2020, 09:19:14 AM

Quote from: Coin_trader on April 18, 2020, 04:55:35 AM

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

You are trading for roughly 2 years and yet you are not using indicators for your strategy?? I bet you are just doing some leverage trading on MEX. Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Since you didn't consider volumes and the flow of price. As I said this is totally fine in leverage trading cryptocurrencies but this will not work at all times. Some point on your trading, you will suffer great loss if you enter in that very bad timing.

Thanks for the observation I use the SMA and Bollinger Bands for my analysis....... Just wanted to keep things short and simple for the new traders here, of course the experienced once would shape this(if found useful) to their own using different indicators and analysis.

Not familiar with Bollinger Bands, seem not very friendly to beginners. Most are using 3 SMAs on their charts, often times the lower the number the faster the SMA reacts to price change (20, 50) and that's when you find them most useful for leverage trading. Combined with the 200SMA to see its trend in the longer time frame.

Sadlife

sr. member

Activity: 1400

Merit: 269

Sounds like a huge risk to me because there are other scenarios that if you long a position based on candle stick pattern there's a chance that it will dump or pump. The best way and safer way that has less risk is look at both at Daily chart and 4 hourly chart to speculate the price and learn key support and resistance and once it confirms breakout either to the upside or downside you have chance to short or long.

Gafman

jr. member

Activity: 131

Merit: 4

Quote from: ?? on ??

Good strategy, and nice to hear that this is working fine for you. But I did not think like this before today and I did not hear also. Maybe this will work better for short term trades. I will try it once in the future to see how it works

Just curious to know how much % profit you earned generally by one trade in this strategy?

I make 7-8% daily on average with this strategy and some backup strategies in situation of High loss

carlfebz2

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Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: CryptopreneurBrainboss on April 18, 2020, 06:58:38 AM

Quote from: Coin_trader on April 18, 2020, 04:55:35 AM

Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Thought as much the moment I read through his explanation but since from my experience in the industry I have come to understand that different strategy works just fine for different Individuals (traders) therefore maybe this is just what works for him. For other reader that are hoping to profit from trading and looking for an easy strategy to follow, taking note of what this user has highlighted is very important to avoid losses.

Also I have come to understand that most short term profiters aren't actually the best market analyzers but just those with luck on their side resulting from seizing the opportunities when it present itself.

Agree on what you have said on here and also to those things that are being mentioned on op, it does really look like an easy strategy yet you are just comparing daily open and closes and trying to differentiate or compare it on between timeframes,it does sound really basic but doing the actual stuff is just hard as hell.Decision making will really vary on your experience and knowledge.If we have just recently trying
to do this strategy then its either it would work or not on a certain trader or individual.Experience is what matter most.

Gafman

jr. member

Activity: 131

Merit: 4

Quote from: Coin_trader on April 18, 2020, 04:55:35 AM

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

You are trading for roughly 2 years and yet you are not using indicators for your strategy?? I bet you are just doing some leverage trading on MEX. Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Since you didn't consider volumes and the flow of price. As I said this is totally fine in leverage trading cryptocurrencies but this will not work at all times. Some point on your trading, you will suffer great loss if you enter in that very bad timing.

Thanks for the observation I use the SMA and Bollinger Bands for my analysis....... Just wanted to keep things short and simple for the new traders here, of course the experienced once would shape this(if found useful) to their own using different indicators and analysis.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Quote from: Coin_trader on April 18, 2020, 04:55:35 AM

Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Thought as much the moment I read through his explanation but since from my experience in the industry I have come to understand that different strategy works just fine for different Individuals (traders) therefore maybe this is just what works for him. For other reader that are hoping to profit from trading and looking for an easy strategy to follow, taking note of what this user has highlighted is very important to avoid losses.

Also I have come to understand that most short term profiters aren't actually the best market analyzers but just those with luck on their side resulting from seizing the opportunities when it present itself.

Latviand

full member

Activity: 1540

Merit: 219

Quote from: Coin_trader on April 18, 2020, 04:55:35 AM

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

You are trading for roughly 2 years and yet you are not using indicators for your strategy?? I bet you are just doing some leverage trading on MEX. Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Since you didn't consider volumes and the flow of price. As I said this is totally fine in leverage trading cryptocurrencies but this will not work at all times. Some point on your trading, you will suffer great loss if you enter in that very bad timing.

We have different strategies and it is good that you share some of yours. Newbies will become knowledgeable and will get some idea on how they will trade depending on the market so that they will prevent huge losses. Trading without any indicators will left you uncontrollable and hasten your losses. Sometimes we just really need to have technical analysis in the market so that when we trade, we know what to do and we have some plan when the crisis comes. Also always be patient and never trade if you're not ready, wait for the right time to trade so that you have some profits when the cryptocurrency you're holding is having an upward movement in its price. Always have a proper timing and planning so that you will not be shocked and nervous when you trade.

Coin_trader

copper member

Activity: 2800

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Leading Crypto Sports Betting & Casino Platform

Quote from: Gafman on April 18, 2020, 04:47:04 AM

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

You are trading for roughly 2 years and yet you are not using indicators for your strategy?? I bet you are just doing some leverage trading on MEX. Anyway your strategy is fine considering you are trading cryptocurrencies which is a total gamble. As per your strategy. Your general overview scope ia just daily and it's somehow dangerous if you keep using that strategy while the monthly graph pointing out that the direction is going to the opposite side of your bet.

Since you didn't consider volumes and the flow of price. As I said this is totally fine in leverage trading cryptocurrencies but this will not work at all times. Some point on your trading, you will suffer great loss if you enter in that very bad timing.

Gafman

jr. member

Activity: 131

Merit: 4

I've been trading for roughly 2 years now and I've been able to use some strategies that work quite well for me

I'm sharing my idea here for both new and experienced members. Comments and Additional ideas would be appreciated

I mostly start my trades at 10 am
1st Step: Switch to D1 chart, Take note of the Minimum and Maximum of the previous day
2nd Step: Now switch to a H1 chart, if the last updated candlestick finishes above the previous day maximum, Go for a Long position
If it finishes below minimum, go for a Short position
3rd Step: If it finishes in between the Maximum and Minimum reduce the sizes of your charts in Step 1and 2 and repeat the steps.

Note: This is just a strategy!!!!! And any additions or deductions would be appreciated. Thank you

Topic: My trading strategy - page 2. (Read 374 times)