l start trading Cryptocurrency in the year 2015 as novice, l read lot of books on forex trading such as "Japanese Candlestick Charting Techniques author by Steve Nison" which l integrate the knowledge l got from those books into Cryptocurrency. l was mentor by great minds knowing when to buy and sell any Crypto Asset and hodl Crypto Asset that have high future potentials. Cryptocurrency trading is divide into two analysis which are briefly discussed below
1.Technical analysis: this are time frame price action movement of a Crypto Asset base on history. chart are study carefully to know how a Crypto asset have been trending within a period of time.This chart can be in form of a candle stick chart , line chart , bar chart . the chart i use is candle stick chart which helps me to know if the bears or the bulls are dominant in the market which is pointer . In technical analysis there are indicators that enhances my interpretation of the candle stick which are list below
i. RSI: this is the relative strength index . is the oldest of all indicators . this helps me to know when a coin is over bought or over sold
ii MA: this is the moving average that helps me to double check the average price movement of the coins/token
iii MACD: this is moving average convergence and divergence, this is the last indicator i used to test if a coin is at the support level or resistance level
outside this indicator there are others could help to enhance my trading such as Bollinger Bands,stochastic ,Ichimoku Kinko Hyo etc .
2 Fundamental Analysis:these are factors that might influence the price movement of any Crypto Asset such factors are frequent announcement and update of the Crypto Asset in social media , political influence ,economical influence.this is the first analysis l do before trading to find out from news channel such as Coincheck, CNN, Cointelegraph about negative and positive news with respect to any Crypto Asset.This help me to no when coin is about to be pump or dump.
laws l use in trading
1. The coin must have a big market size before trading
2. l trade only with what l can afford to lose
3. l don't use emotions to trade
4. l trade with Big exchanges
5 l use the stop loss features for trading
crypto asset l traded
1. NEO
2. BTC
3. XRP
Winning Strategy
i use three strategy that have make to increase my pofolio
1. volume : after my fundamental analysis l look for coins or token that have accumulate volumes and gathering momemtum
2. trending ; the trend is my friend after the laws of technical analysis have been broken .
3. scalping : when i see that number 1 and 2 strategy is fulfilled i scalp .
Trading Time frame
l use the 30mins time frame to scalp
My Risk management
risk management enable me to manage my portfolio and control how much am willing to lose or gain per trade, that is why l use stop loss . am ready to risk 10% of my porfolio to increase my portfolio by 25%. the risk ratio is 2:5 with respect to loss/gain.
Exchanges l have traded
l trade with big exchanges because of their features .
1. poloniex
2. binance
3. Bittrex
In conclusion my experience as crypto trader is that never be too anxious for price movement. Greed and Fear is the key factor that result to lost of Crypto Asset in trading .
Please kindly share your experience in trading so far to improve a member of the forum skills in trading Crypto Asset
I fully agree that trading in a falling market period becomes the most efficient and profitable strategy for working in order to earn income in a falling market. But I think that one should not be limited to trading only. You can also participate in prospective bounty and invest in reliable coins, while prices remain at a minimum.