doyinisaac:
https://coinmarketcap.com/currencies/steem/#markets ....at the website you will see exchangers that allow steem dollars and steem

i will make sure i check it out and get back to you

Right now I feel the general trend is down. Indicators like MACD, Moving averages on a long time frame confirm it.
I also remember from charts that during the crash of 2014, it took a whole year to go from $1000 to $200.
This means I'm more of a bear now and will be looking for shorting opportunities when BTC and Alts retrace to a high.
Dont forget to trade with stop losses tho.
# IWC

Hi
HOW I PRESERVE MY CAPITAL AND TAKE PROFITS WHEN TRADING.

You can set stop orders at different prices which is what i do most times.

Eg I'm long and bought 200 XRP at 1.5, then it rises to 1.65

I would set 3 orders incase it (price) starts falling.

I could set the first one to sell like 50 XRP at 1.59 (this one is ensuring i protect profits)

I could set the 2nd order of 100 XRP at 1.55 (this one will still give me some gain if it happens to fall below)

Id be left with 50 XRP which i will set around breakeven at 1.52. So if its still falling uptill then i will at least have my capital back, but if the fall doesnt get to that level i will have some coins to take advantage of any further rise in prices.

Since your primary charges are fees... And exchanges charge around 0.1 - 0.25% per trade, that means your total cost of a full order (buy & sell) will be around 0.5% (I just approximate to 1%).

Therefore to calculate your breakeven when you're long, simply do (purchase price X 1.01)

So if i buy say bitcoin at say $13200, my breakeven will now be $13200 X 1.01 =$13340. Anything sold below $13340 is a loss

After you place a trade and it moves towards your direction, first move is to preserve you capital by shifting your stop to breakeven.

Ps* do the opposite for a downtrend.. I.e while Shorting.

#IWC #RoadToTheBillions #TradeJournal #cryptocurrency #bitcoin #iota #ethereum

Hi.
Anyways... There's a fairly good strategy for entry i learnt from a book and i will like to share.


See the procedure:

First you will need to be looking at 2 charts, a larger chart(1day) and a shorter one (3hr)
Then:

1) identify the trend.
You identify the trend on the long term chart (1day).
For traditional forex i guess this would be looking at weekly charts but everything is accelerated in crypto so my long term chart is 1day or 6hr chart.
Then Apply indicators like Moving average Exponential and MACD to help you identify the trend.

2) if the trend is down, you should be looking for SHORTING opportunities.
And vice versa.

3)open your short position when the prices fall just below the lowest of the previous 3hr candlestick and place your stop loss just above it.


Let me illustrate.
So assuming you have looked at BTCUSD on a 1day chart and MACD is pointing downwards, the candlestick are below the Moving Average exponential, etc etc (signifying a downtrend)... What that tells us is that we should be looking for shorting opportunities.

Now you check your 2 timeframes. If the larger timeframe (1d)and the shorter one (3hr) are moving towards the same direction (down), stand aside.
Wait for the shorter timeframe (3hr)to close in the opposite direction of the trend.
When it does, aim to enter a short position just a little below the low.
So if BTC is on a downtrend, and on the 3hr candlestick we see it RED, we standout.
Whenever it seems to be making a recovery (we see the 3hr candlestick close green), we put our entry just below the lowest point of the 3hr candlestick.
If the next 3 hr candlestick closes higher, we move our entry up again, but still below the lowest point of the preceding 3hr candlestick.
We keep moving it higher (provided the 3hr candlestick keeps goin up) until it eventually resumes the downtrend and we enter the trade.... Or until conclude the downtrend is over and cancel the shorting.

Once you have successfully entered a trade, ensure you place your stop loss.

**in thw picture attached, both the longer and shorter charts are going down so we stand aside and wait for the shorter chart (3hr) to go against the overall trend.

chinedum:
A rising wedge spotted on a 3hr chart.
Big Dip likely to occur within the next 24hrs.
Tighten stop losses for long positions and/or prepare to go short IF the dip happens to occur.

Ps. If you don't know what a rising wedge is and you have concluded Chinedum has come again with his obfuscating statements, and you are unwilling to do a sigoogle check, Sorry.

Good time to short? Price testing upper channel of bolinger band now foe the 3rd time and seems unable to break it

Hello Bro, I'm a newbie and I really need your support on how to be a better trader without lost.

xelowpage:
Hello Bro, I'm a newbie and I really need your support on how to be a better trader without lost

Sorry i can't help you with that

Folks are finally realizing we are trending down.

I was called a pessimistic person and eventually kicked on one useless telegram group (acer) i joined through NL simply because i advised that a downtrend may be coming after such a parabolic rise and folks shouldn't buy everytime as all markets go through bull and bear cycles.
Anyways,
When the trend is downwards, the saying becomes "short the fucking top", meaning that when prices go up during a downtrend, thats when you should open a short position (in order to make money as price goes down)
Watch my video on shorting here
https://www.youtube.com/watch?v=eH1xTa9xORc

Pls I am interested

Omo I just come on board got iost too o
Buh it has crashed to 0.7
Still not afraid to buy sha any altcoin

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I think the best way to paint a picture of the downtrend is to just imagine the opposite of all that has been happening in the past 1 year..
Right now, when you see prices going up, its the time to ShORT before prices resume the trend (down).
Prior to December 20th, when you see a dip, you buy cos its against the trend (up) and prices were expected to continue in the direction of the trend.
Right now you should do the opposite.
The upwards prices are now the "corrections" and downward movement is the trend.
The trend is your friend.
#IWC

chinedum:
Prepare to short

Check if u can opem an account on bitmex

They offer 100X leverage

Altho i would never advise you to use more than 2x leverage

But i still believe the trend is down

And btc might take the next few days booming and consolidating... Before everything goes south again
Btc price is currently $9200 afte a low of $8200 today

Sadusky:


That's why exchanges like bittrex is now waking up.

They announced they will now have a pair with the real USD recently

They all know what will happen when tether goes down.

It's just a matter of time before every things blows up.

You sure about the bolded? Like very sure? Any link? Cos if it's true then there's really fire on the mountain as i believe exchange operators should know more than us.

Thank you for the great tips here! I agree that online casinos are great for earning money online these days. I like gambling a lot and I often use the casino from https://yoyocasino.com/en/ for it. What are your thoughts on casinos, guys? I would like to recommend you to try some too

chinnyonwu:
A real trader should avoid arguing with the market/trend.
You might strongly believe bitcoin is worth $50000 or $1000 and you maybe right. But the market doesnt care, and the market will affect your profits regardless of your beliefs. You should be able to make gains or at least keep preserve your capital in a uptrend or downtrend.
This is my short position up 4% or $45.
The trend is your friend. Dont argue with it, just go with it. #IWC

One of the best advice for traders. Don't argue with the trend... Go with it.
I lost $2000 the first 2 weeks this downtrebd started, when i still thought it was a normal correction. But im glad im always willing to take a loss. I accepted that loss and have been shorting since then, only occasionally buying for very short term trades.
The markets dont care about your beliefs. The market is irrational., and the behavior of the participants will affect your account whether you like it or not.
Goodluck getting angry with it.
Go with the trend, use stop losses. Cut your losses when they are young.
Sorry to everyone still holding a bag of coins.
#IWC

.I hate to be a carrier of bad news but allow me drop my frank opinion anyways.

What you have been seeing in the past few days (everything going up) is a retracement. I will not say the trend has reversed just yet.

Just like during an uptrend you have occasionally times everything starts bleeding, the opposite is the case for downtrends; you have occasional times everythinf starts greening.

Your bias should always be in the direction of the trend.

I guess all im trying to say is that you should be cautious if Buying now as prices are more likely to resume the trend (which for now is downwards) than for it to be a reversal.
#IWC

I got my first margin liquidation today. Totally my fault and error. I got overconfident and shorted at the bottom.
Anyways i believe the trend is still downwards, be careful if you still choose to go long

chinedum:
Do not be carried away by rising prices.. Better to wait patiently for further confirmation, if you must go long, place your stops.

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