₦airaland Forum

megawealth01:
So what should we expect from today and the next two days?

I owe you nothing, as I'm not the one charging for market direction. It's your money, use it to swing anyway you like.

megawealth01:
Sometimes crypto acts opposite of expectations. This Friday can be madly bullish

Crypto dosen't act opposite of expectations if you really know what you're doing. There might be few losses once in a while, but then, you should probably be winning more than losing if one really knows what he's doing.

I've dropped over 6 trade calls here before and after and none has ever hit stoploss, and I'm not even a crypto trader, I'm only calling those trade calls all based on my forex experience.
They are all charts, and I can trade them all because they are all similar, be it stocks, futures etcetera.

Trading is 50/50 on a neutral level, i.e it has 50% chance of going up or down at any point in time. So after learning different methods on how to trade, if one can't still push his/her win rate from the 50% chance to 70-80% at least, that person is better off keeping those funds in the bank.

megawealth01:
Has the news been released yet?

That long candle was 2:30pm candle, that type of long move on a 5mins timeframe was because of the news release. It didn't have too much effect as I'd expected.

Tflex01:
👍

I'm for both short and long term so NEWS is very important for me. I've made far more money from news than charts. Trades I took 24 hours prior to US election gave me my biggest gains ever in crypto, and short term trades I took when btC hit 100k was massive. The two events are news events.

Do you anticipate the move down prior to the news release? Or you make use of the news data to get a direction? Because from my experience, price moves too fast after news release that one can barely enter trades at a good price without using huge stop order that would have messed up the RR.

Tflex01:
On point! NFP data is not favourable to btC so that upward movement is not likely to be sustained over the weekend/early next week. The only thing that can significantly move market now is Trump's inauguration.

I don't trade news data, I'm an intraday trader, so I stay out of the market during news and then continue my thing when the news effect has died down.

But on a more larger timeframe, btc is bearish as long as those lows of last month hasn't been taken out yet. What made me so sure is even the fact that price came close to it and reverse. They wouldn't push price down that much if they didn't plan on taking out those lows, so anyone with hope of buying btc for the longer term is better off waiting a lil bit more and let them wack the price down more before buying.

geedot:
Stopped out at BE as usual after doing a 1.8×R.

Later played out after stopping me out at breakeven. Kept going up on a low volume until it found enough sellers at the zone to push the price downwards.

Second image modified:

geedot:
Bitcoin is moving up on a very small volume, it only means one thing. Price is just looking for more sellers to continue the downwards movement. 2.16×R trade.

Stopped out at BE as usual after doing a 1.8×R.

Bitcoin is moving up on a very small volume, it only means one thing. Price is just looking for more sellers to continue the downwards movement. 2.16×R trade.

XaToXi:
Was that a double bottom on the 1hr & 2hr charts?

Still have major news coming out tomorrow though.

That's what they want you to think, double bottom so the majority can buy unto it and later flushed out of their positions. The bottom hasn't been created yet, with NFP tomorrow, the bottom is far from created.

See what they did with the low with that white horizontal line there? They came close and reversed only after taking out yesterday's low, leaving the last month's low still protected. Lotta buyers still needs to be flushed out before the upwarda surge.

Of course you're a PhD trader, you would know that already.

It tapped the line and reversed almost immediately, the downward flush will be stronger than I initially imagined. I see this move as trying to trap supply and demand traders to believe the zone has held one more time, only to come back and flush them all out.

It's coming back to that line, trust me.

geedot:
Price always seek for where massive liquidities are, it's the target. For those that believe in strong supports and resistances because these zones have been confirmed multiple times, maybe you should have a rethink, these zones are always the target because of the massive of stop orders resting underneath and above them.

We'll see how this plays out in the next few days.

Btc is really taking this downtown shopping seriously. Phase one of the call almost done. Late buyers currently trapped, early buyers trailing their stoplosses are all being pushed out of the market, the last set of buyers are the ones still keeping their stop beneath this zone. They are the last set left to be taken out before the upward move.

Price always seek for where massive liquidities are, it's the target. For those that believe in strong supports and resistances because these zones have been confirmed multiple times, maybe you should have a rethink, these zones are always the target because of the massive of stop orders resting underneath and above them.

We'll see how this plays out in the next few days.

sweetveek:
just post evidence.(according to alexa) one screenshot for don settle all these arguments since

Post office ni.

XaToXi:
Because it's also possible to make 400% ROI by using above 200x leverage.

Needed to be sure of the magic you performed so I can quickly lambo.

Rest.

XaToXi:
Instead of him to say he made 4R, he said he made 400% ROI on 2 different 0.8% moves.

Na so e easy ?

So you understood already what I meant by saying 400%, so why were you disturbing me further with questions that adds little or no value to you Mr PhD trader?

You can see I already ignored you because of the constant probing.

XaToXi:
But sol/btc moved by only 1% approximately during those trades (0.8% to be exact).

What amount of leverage did you use to double your capital on a 1% market movement?

I think I can remember you having this same argument two days ago about position sizing and stop placement. Once again, leverage doesn't matter, all that matters is how much are you willing to lose per position, and the adjust the leverage accordingly.

In this case, if $1k is the amount you decides to put at risk, you then adjust the leverage value to be equivalent of it, even if it's 500× leverage.

The trade clearly has an exit price already upon entry which already stands for the liquidation point if gone against, and the take profit is ×2 of the value of the stoploss.
Not everyone trades using your style of setting stoploss.

XaToXi:
This looks the 30m chart for SolBtc.

First one was like 0.4% : 0.8% while the second was like 0.5:0.9. let's say 1:2 RR sha.

What leverage did you use to gain 200% each? 200x, 250x or 600x?

400% ROI, i.e: if you're risking $100 per trade for example, the two trades would have yielded $400+ in profit.
1st trade returns $220, while the second would have returned $198.

geedot:
Anything that would make this flip back up has invalidated the reason for selling. So trade adjusted to breakeven and watch how the rest unfolds.

Just flowing with the volume and orderflow. Trading doesn't get simpler than that.
1st one was 2.22×R while the second is 1.98×R, making a 400+% total return in just few hours.

geedot:
I didn't call this long move here, but I'm calling this short now. Let's see how this goes .

Anything that would make this flip back up has invalidated the reason for selling. So trade adjusted to breakeven and watch how the rest unfolds.

I didn't call this long move here, but I'm calling this short now. Let's see how this goes .

XaToXi:
Hmmmm.

You prefer 0+0+0+0+2+2 to 0.5+0.6+0.7+0.8+2+2?

To each his own then.

The manual TP is a form of SP too.

Kudos.

We trade differently, trailing your profit could be beneficial more to you because you trade with wider stops and longer timeframe in view. Like I said earlier, trailing a shorter timeframe isn't as straightforward as you painted it above.

And I don't always do breakeven or TP, I close manually too by watching PA. I'm the one that has used both method, and I'm saying it's more profitable for me now than when I was using trailing stops.

To each is his own.

XaToXi:
Nice one.

With a Trailing SL or even Stop Profit, you could have locked in some of the earlier realised profit though.

Well done.

Trailing a very short timeframe trade is a very tricky way to manage a trade. Done it before, I ended up making tiny profits here and there, because most of the time price will zigzag up and down, knocking you out in the process before continuing its journey. I observed I was even better off hitting my full TP just twice than taking 6 tiny profits.

I've made peace with not winning all the time, so once my trade is at breakeven, I let the price does the rest or close manually when I dont like the price action I'm seeing. I was asleep with this particular trade, would have closed manually after three 30minutes candles were stalling at that @98300.

geedot:
This tiny zone above has become a minor stumbling block probably due to low volumes associated with weekends, already did 93%×R, it's almost an 100% ROI, so I'd breakeven and hope it gets broken or stopped out at zero loss.

Stopped out eventually, the buyers couldn't push past the last resistance @98300 price level.

geedot:
5:43am, and up we go, how up? it all depends on the volume.

This tiny zone above has become a minor stumbling block probably due to low volumes associated with weekends, already did 93%×R, it's almost an 100% ROI, so I'd breakeven and hope it gets broken or stopped out at zero loss.

geedot:
Another random outlook on Bitcoin, longing after this strong selling down.

5:43am, and up we go, how up? it all depends on the volume.

geedot:
What if I told you that you can see what market makers are up to with volumes? Would you say I'm crazy?; I will show you it's the other way round.

Another random outlook on Bitcoin, longing after this strong selling down.

What if I told you that you can see what market makers are up to with volumes? Would you say I'm crazy?; I will show you it's the other way round.

PeterObi4Presid:
.
I have spot trade I don't touch....but need to slowly grow my futures account again....futures can give cool spare cash during bullrun with discipline sha...lol..not easy baami, na why I dey call out to masters

You're going to blow that tiny account sooner rather than later. Why not just leave the money there instead and take few months break to learn and be proficient with one strategy.

It's better than hopping around and looking for signals from traders you know little or nothing about their trading history.

sweetveek:
the
best leverage for trading, how long it takes to make reasonable profit from such leverage say 500%

This particular leverage calculation is the only concept I'm still yet to fully grasp on crypto till now even after watching different videos on YouTube about it. Haven't found a fully explicit one on it yet.

I trade a very short time frame, majorly the 30/15mins timeframes, so I believe leverage should be adjusted according to your stoploss, just like position sizing kinda thing.
So leverage used doesn't really matter as long as one already had a predetermined total loss amount/exit price before entry.

sweetveek:
oh okay, thought you already a future trader bcux i wanted to ask something

Not at all, what would the question be by the way?

sweetveek:
happy new year, are you a future trader?

I'm new to crypto, I trade forex majorly and BtcUsd on mt5, but the spreads is a bit of disadvantage, reason why I started looking into futures trading on binance after I saw the almost zero spread on their crypto pairs.

I'm too comfortable with the mt5 platform I make use for trade execution on forex that transitioning into binance is still feeling like some hectic task for me.

It's a new year, which means your previous age is now obsolete, you'll be another year older. If nothing motivates you to be better than you've ever been, I don't know what will.

I won't have my birthday until the ember period, and I added one year to my age now, and it felt awkward for real for real.

You can be better, even if you are a hodler of crypto, you can add futures swinging to your toolkit while analyzing only the weekly or daily candles for entry. This doesn't or affect your normal daily routine while also making you a better trader and not some coin speculator only.

Happy new year guys. I hope we score all our goals this year, or most of them.