Topic: Trade in Bases, make profit! This is how. (Read 125 times)

"it may be 3% or 30%, it's always better to earn a profit than a loss, say goodbye to ms. and mr. Greed''

This topic is written to help other people who are still finding their way to profittable Day-Trading.

There are so many tools out there on the exchanges and a lot of them read movements of the currencies spiraling up and down their trends.
This topic is about reading bases. Reading bases is not something you can see in the tools. Forget the tools and base from the charts.

When a price goes up, the moment it falls back down to its lowest peak and goes up again...
That lowest peak is a base.

On an Ethereum chart for example it's very easy to draw bases and to trade on them. This also works with any other chart, unless your chart behaves like a drunken monkey, this should work.

Here's how to do it:

Zoom out in the trading chart.
Spot your first base,use the line tool and draw a horizontal line from that base all the way to the right and all the way to the left.
Examine the line you draw by scrolling back and forward in the charts and see if the line connects to other bases.
If you see other bases on a different height use your line tool and draw the same line as mention before.

How to trade?

Divide you chart in 3 sections horizonally by identifiying the highest point of the currency value and, the lowest point of the currency and the middle of the currency value that you see in the chart.
Trade in Low, High, and Middle and draw 3 lines.
In between the Low and the Middle and the Middle and the High you can spot more bases, draw lines and connect the bases horizontally.

Step 2:
On which lines do you see the most bases in the Higher section of the chart?
Do this same step for the middle and lower section.

Set an alarm when the currency chart almost reaches your base. ( if you don't have an alarm find one, if you can't find one, keep an eye on the chart every now and then.
Look how the chart moves from the Base in real time. Does it go up or down?
When price goes up buy at the base, look at your middle and higher bases you've drawn in the steps before. Identify the values of the bases that occur most on 1line (step 2). Sell at that values, or a little below (to make sure the currency in the chart touches the bases).
If price goes down, sell and wait untill the first base is created, buy at the base, sell higher and with the next base.

Sell at different currency values in 1 trade. Buy at different currency values in 1 trade.


Remember:
Even if you sold at middle price and price peaked afterwards, a profit is a profit. Play safe. When a currency value goes down, it always has to come back at a base, same way when a currency goes up.

When a currency value goes up and never comes back to the base (price inflation) you always have a profit.
When a currency goes down down and never comes back to the base you also have profits because you sold at the base and can buy more when the price is down.

Patience is the key, work in langer timelines. 1 hour, 2 hours or maybe 20 seconds.
Trading can become frustrated because of time. Many trader make decisions that lead to a loss because of impatience. Set you sell orders and your buy orders make an alarm on your spotted bases and profit from the trends.
Do something fun / something else in the meantime.
Play football, dance the night away.

Trading should be non emotional and be approached as a side activity.
Don't let the up- and down trends move your emotions up and down, it's nothing personal, just doing business.

As an endword I have to say, do it with money that you can miss.
Or else you'll be emotionally envolved. If you read this and you can't miss the money you are trading, set the alarm notifications and sell and buy orders to free yourself from emotional trading.

Hope you guys can use this!