1⃣ Develop a trading plan
2⃣ Manage risk
3⃣ Start with a demo trading account
4⃣ Be proactive, adapt to the market
5⃣ Control your emotions / Never FOMO
6⃣ Keep a trading journal
7⃣ Trading / Life balance
-- 1⃣ Develop a trading plan --
🔥Failing to plan is planning to fail🔥
A trading plan is a back tested guide with criteria to enter & exit a trade
🔸Entry and exit levels
🔸Take profit level
🔸Indicators to use to confirm your entry and exit
🔹The EW count puts us in the 4th wave of the 3rd
🔹The 4th is looking like a big running flat correction
🔹The 5th if taken as a 1:1 of wave 1, would take us to ~$200K
🔹The W4 correction will be a killer and make every think its over. BUT its NOT!
-- Educational - When is the next “Alt Season”? --
7. How to interpret #TOTAL2 8. How BTC.D and TOTAL2 can be used in conjunction Pt.1 9. How BTC.D and TOTAL2 can be used in conjunction Pt.2 10. What is the current state of play Pt.1? 11. What is the current state of play Pt.2?
-- What is “Alt Season”? --
🔹 A.k.a Altszn, is a part of the #cryptocurrency market cycle when many alt coins “moon”
🔹 "Mooning" is when a coin go up quickly in price
🔹 Basically an Altszn is when the Alts are out performing #BTC against the $
Content in Part 2:
🔹What are STO's ICO's & IEO/IDO's?
🔹Crypto Regulations at a glance
🔹How do i get started buying my first Crypto?
🔹Basic day 1 Crypto investment strategy
🔹Is #BTC/Crypto a Bubble?
-- What are STO's ICO's & IEO/IDO's?? /18--
🔹#STO - Security Token Offering
🔸 An investment contract which is backed by the security token
🔸 Token is asset-backed and represents ownership
🔸 Like a digital certificate much like the real-world stocks and bonds
-- What are STO's ICO's & IEO/IDO's?? Cont'd /19--
🔹#ICO - Initial Coin Offering
🔸 Used to launch a service or product like a new #cryptocurrency token or an app
🔸 Similar to IPO (Initial Public Offering) which is used by a company to raise funds on the stock market
Content in Part 1:
🔹What is a #Cryptocurrency?
🔹How many Cryptocurrencies are there?
🔹Types of Cryptocurrency
🔹What are real world applications of Crypto?
🔹Pros and Cons of Crypto?
🔹Crypto, the future of Finance?
🔹A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers
🔹Decentralization allows them to exist outside the control of governments and central authorities
🔹Cryptocurrencies have many real word applications, i.e. secure payments online
🔹"Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard the entries
🔹The most widely known Crypto is #Bitcoin
🔹E.g. $BTC $ETH
🔸Immutability - Can't change the ledger
🔸Enhanced Security - near impossible to hack due to distribution
🔸Faster Settlement - Faster than boomer payment systems
🔸Concensus - supports lots of different consensus mechanisms
-- BLOCKCHAIN #2--
🔹How does it work?
🔸Network node verifies it
🔸Unique hash ID allocated along with transaction hash
🔸IDs are stored on the ledger
🔸Transaction is now immutable
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
1. Funding Rates - bybt.com/FundingRate
Funding rates have proved to be extremely useful in understanding how over heated the leveraged market is at any one time. Funding rates (below 0.01% / green) are bullish. Funding rates (above 0.01%/ red) are bearish.
2. Live large trade ticker - aggr.trade/#
When scalping I like to see the large orders and liquidations in realtime across multiple exchanges. I have Aggr.trade pined to the left of my screen and set it to notify me of orders over specified size.