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Pray...I don't encourage trading cryptos at this time...

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kiy   Sunday, 02/18/18 07:12:41 PM
Re: collegeboi post# 208
Post # of 426 
Pray...I don't encourage trading cryptos at this time...

Depends on what Timeframe you're trading in...
You trade Cryptos like you would trade futures markets or currency markets.
If this is the Bitconnect you're in... https://www.worldcoinindex.com/coin/bitconnect
It is down big...I doubt I'd even trade it until it moved above $5.
Charts for cryptos aren't that great where you can see support/resistance levels and and a few technical indicators like stochastics...Learn to trade the stochastics indicator from oversold levels and you will make money...

Trade it like currencies/futures markets...you trade off support resistance levels...you always need to know what the 3day price high and price low is ...you buy the new 3 day high. You sell the new 3day low...this is day trading...
Swing trading...you want to define the path of least resistance...stochastics in oversold...as it comes out of oversold it signals a change in momentum from down to UP (stochastics on your side is the pathe to be on...)...at the same time you want to see 3day average cross above the 5 day average= potential trend forming...and then you want to see the 3day average cross above the 10 day average and you likely have a trend...you can relax some as long as the 3day average stays above the 10day average...
Luck in these kind of markets happens... but I'd take moving average signals any day...
Don't risk more than 5% of your money...if you're down 5% step aside...that way you will still have a few trades left with the remaining cash...when you're winning 7 out of 10 trades you're a
Master...3 losses in a row suggests you need to take a break...take it.

You're only as good as your next trade...
Enjoy...good trades...a good trade can also mean you follow the rules and take the identified loss...
PS...you are trading against algoBots that can turn on you at the 4th decimal point (1.1234 =4 is the 4th decimal point) and drop price 20% in a flash...pray...that it doesn't happen to you...

I don't encourage trading cryptos at this time...

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