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REMO SECONDARY SCHOOL SAGAMU, I will be right back

Panic dumping by bulls at the bottoms and panic covering by bears at the
tops create extremes, which appear as long "tails" on the charts. You want to base your trendlines on the edges of congestion areas and not on tails because tails show little about the crowd other than its tendency to panic.
The extreme points are very important -but not for drawing trendlines.
Markets usually recoil from those tails, offering opportunities to short-term traders (image above in white and black)
Markets constantly fluctuate, seeking an area that generates the highest volume of trading. A tail shows that a certain price has been rejected by the market. It usually leads to a swing in the opposite direction. As soon as you recognize a tail, trade against it.
Place your protective stop halfway through the tail. If the market starts "chewing its tail," it is time to get out.

Rating Trendlines

The single most important feature of a trendline is its slope. When a trendline slants up, bulls are in control and it pays to look for buying opportunities. When a trendline slants down, bears are in control and it pays to look for shorting opportunities. You can rate the importance of any trendline by examining five factors:

The timeframe of the trendline, its length, the number of times prices touch it, its angle, and volume.

The longer the timeframe, the more important the trendline. A trendline on a weekly chart identifies a more important trend than a daily trendline.A trendline on a daily chart identifies a more important trend than an hourly trendline, and so on. The longer the trendline, the more valid it is. A short trendline reflects mass behavior over a short period. A longer trendline reflects mass behavior over a longer time. The longer a trend continues, the greater its inertia.
A major bull market may follow its trendline for several years. The more contacts between prices and trendline, the more valid that line.

When the trend is up, a return to the trendline shows a rebellion among bears. When the trend is down, a rally to the trendline shows a rebellion by the bulls. When prices pull back to a trendline and then bounce away from it, you know that the dominant market group has beaten the rebels.

A preliminary trendline is drawn across only two points. Three points of contact make that line more valid. Four or five points of contact show that the dominant market crowd is firmly in control

The angle between a trendline and the horizontal axis reflects the emotional intensity of the dominant market crowd. A steep trendline shows that the dominant crowd is moving rapidly. A relatively flat trendline shows that the dominant crowd is moving slowly. A shallow trendline is likely to last longer, like a turtle racing against a hare.

When the trend is up, volume normally expands when prices rally and shrinks when they decline. This shows that rallies attract traders while declines leave them cold. The opposite occurs in downtrends-volume expands on declines and shrinks on rallies. A pullback on heavy volume threatens a trendline because it shows that the rebellious crowd is growing. If volume expands when prices move in the direction of a trendline, it confirms that trendline; if volume shrinks when prices pull back to a trendline, it also confirms the trendline. If volume expands when prices return to a trendline, it warns of a potential break; if volume shrink when prices pull away from a trendline, it warns that the trendline is in danger.

Trading Rules

1. Trade in the direction of the slope of a trendline. If it points up, look for buying opportunities and avoid shorting. When the slope is down, trade from the short side and avoid buying.
2. A trendline provides support or resistance, When prices rise, place buy orders at the uptrendline and protective orders below. Reverse the procedure in downtrends.
3. Steep trendlines precede sharp breaks. If a trendline is steeper than 45", place your stop right at the trendline and adjust it daily.
4. Prices often retest their latest extreme after breaking a steep trendline. A pullback rally to an old high on falling volume and with indicator divergences provides an excellent shorting opportunity. A decline to an old low after a downtrendline is broken provides a low-risk buying opportunity.
5. Draw a channel line parallel to a trendline and use it as a target for
profit taking.



Questions are highly welcome

For faster drawing of Trendlines

Open your tab trader as seen in the image attached

1. Click on the pencil Icon

2. Click on the Line Icon

3. Choose any colour

4. Touch your Screen and replicate the trendlines as
shown in the 4th Image below. You can move the
line by holding to it for some seconds

A trendline can be confirmed when it touches at least three congestion zones.

Today's Topic is Trendline

This topics follows each other as a learning process. Do not jump any topic or else you will disrupt your learning process and will find it difficult understanding future topics

Charts reveal the actions of bulls and bears. Bottoms of declines show where
bears stopped and bulls regained control of the market.

Peaks of rallies show
where bulls ran out of steam and bears gained control. A line connecting two nearby bottoms shows the lowest common denominator of bullish power.

A line that connects two nearby tops shows the lowest common denominator of
the power of bears. Those lines are called trendlines. Traders use them to identify trends.
When prices rally, draw an uptrendline across the bottoms. When prices
decline, draw a downtrendline across the tops. Projecting those lines into the future helps anticipate buying and selling points.
The most important feature of a trendline is its angle-it identifies the dominant market force. When a trendline points up, it shows that bulls are in control. Then it pays to buy with a protective stop below the trendline. When a trendline points down, it shows that bears are in control. Then it pays to sell short and protect your position with a stop above the trendline.
Trendlines are among the oldest tools of traders. Modern computerized
tools for identifying trends include moving averages, the Directional system, and MACD

How to Draw a Trendline

Most chartists draw a trendline through extreme high and low points, but it is
better to draw it through the edges of congestion areas. Those edges show where the majority of traders have reversed direction. Technical analysis is poll-taking -and polltakers want to track opinions of masses, not of a few extremists.

Drawing trendlines through the edges of congestion areas is somewhat subjective. You have to watch out for the temptation to
slant your hand.

You can easily draw trendline on a chart in your Bitmex account by opening the chart

shadow3:
thanks sir you just cleared some of the things troubling my mind... but pls I still have another question, assuming I bought $100 bitcoin at maybe 15,500 and it falls to like 5000 will I loose all the $100 bitcoin as the price goes download or what am I going to loose

That is 75% fall, you will lost 75% of your $100.

shadow3:
pls oo sumtin is confusing me here ooo, what I have been hearing about crypto is that you buy low and sell high but now am seeing going short so my question is that assuming I enter the market and I saw that maybe PVT/BTC price is going down can i enter the sell option and still be in profit like forex and seconding how do you guys calculate your profit cos in forex if a trade goes like 10pips in your favour then you know it's 10cent depending on your lot size, is it the same in crypto trading

To your first question, you are buying for long (buy to sell higher) or Short ( sell to buy lower). Your profit is the difference in prices.

To your Second question:
To calculate your profit;

Assuming you enter the market buying BTC worth $100, also assuming the current price of 1 BTC is $10,000.

Assuming you forcasted that the price of BTC will increase to let say 10,500 which is 5% and you sell the BTC. Your profit is $5 which is 5% of $100.

Note : your profit also depends on the margin in which you trade.

That's my little explanation, our teacher in the house will also expatiate further. If you have more questions please ask.
Thanks

order value is the amount of bitcoin in USD u are using in a particular trade

Available balance is the total amount remaining for trade

Post Only are Limit Orders that are only accepted if they do not immediately execute. That is, Post Only Orders never take liquidity. This order type can be accessed from the Limit Order, Stop Limit Order or Take Profit Limit Order selection by checking the “Post-Only” box.

User Input: Quantity, Limit Price, Post-Only Box Checked

Post-Only Order Example
Quantity = 10 Contracts
Limit Price = 10002
Post-Only Box = Checked
Direction = Buy
Best Ask = 10001
If the Post-Only box was not checked in this example, then this order would execute in the market against the Best Ask of 10001 and the order would pay the Taker fee. Given the Post-Only box is checked, this order will not execute and be cancelled. Only if the Best Ask was higher than 10002 will this order be placed in the market.

Trigger should be set as mark. Close trigger on trigger should be ticked

Stop market is used when you are not a full time trader. Eg u are not one of those that stay up all trading.

Stop market is for passive traders

stop market

A Stop Market Order is a market order that is triggered (opens) when your stop price is hit. You pay the Taker Fee of 0.075%.

This is high end of stop loss. Sometimes stop loss fail during high volume trading on Bitmex. But in stop market, you place your quantity and a stop price.

Set the trigger (mark), liquidation price (will be explained)

Immediately that price is reached, your order is triggered

Market

Choosing Marketing implies that you want to trade with the current price of bitcoin meaning that if you place your order, it will be filled asap.

What you need to do is to put the amount of bitcoin u wanna trade and submit

In the image above there is

Place order
Market
Stop market
Order value
Available balance
Post only
GoodtillCancel
Buy long
Sell short
Quantity
Limit price
Your Position
Contract details

place order

To trade bitcoin either in long(up) or short(down) direction.

Limit

Limit means that you as a trader do not want to trade in the current price of bitcoin. So you input your own preferred price in the space provided for quantity in USD.

This is done when you are not ready to trade in a particular price of bitcoin rather you wait till it reaches the limit price which you provided in the quantity space.

When you login on Bitmex, this is the upper part of Bitmex interface

Permit me to continue from where Soul47 stopped.

Our last class which was the 4th class was on Trading On Bitmex. The following are direct Copy and paste from the class on Whatsapp which was anchored by Balenciego

Topic of today: BITMEX Site interface usability
Everyone should sign up and login on Bitmex dot com

Please Nairalander, advise me, which of these program can I apply for, I studied Industrial Mathematics at University of Benin. I am also an ICAN student ATS level.


I will appreciate your response.

williamsuc:
Nice research G buh i tink u shuld research more on what is being shared here, people pay for all this nd its free here so do urself a favor nd cast the spirit of negativity nd see if u can actually earn frm what is being shared here cos i do, my thoughts tough

Thanks for the advice, i am actually here to learn

I hope he will come to Sagamu his home town before going back

Balanciego:
Nice research bro. I myself never got the time to notice who comments or who doesn't.

or rather who opened account or when. but anyway thank you for pinpointing that to me.



You are mistaking if you said this is the only thread I have commented on. Maybe you while away time in this forum but know that some of us have real time work that we attend to. I come here when I have break and I utilize my time when I'm here.

Thank you for insinuating that I'm a Scammer. one thing I'll like you to do is to never get involve in any info I'm giving out because it's not good to take advice from scam right?

If 98% of my post is here. would you prefer I post in all thread to look real? silly way of reason I must say.

This is one of the reason I have not replied my mails tagged to this forum. Things have gotten bad that all folks that belongs to maverick are tagged scam or fraud.

I wish you the best and hope you will use this your investigative skills to find out who scammed people here through Vintage mining that was recently reported to me on this thread. It will really help those still in depression and suicidal thoughts.

BTW I have been a guest here for years. I know most popular monikers and having learnt Alot here in the tech and career section. it's time I come out and give back which started from 30th May as you said

Sorry bro if it sound offensive, i only stated what is obvious and i give warning just like Soul47 had said earlier. Keep the good work going i am also here to learn.

Soul47:
I just checked your profile.
It appears you are a Godfather here on NairaLand.
My regards to your children.

What you did was to put up a warning and I guess that's what this thread is about. And you lived up to your moniker, mathematician related.

Only mistake I noticed is that my own moniker was not only 'not-emboldened' but also not written in full. Please it's Soul47. that 47 is just like a surname of mine, I don't joke with it. I like being complete wherever I am, I can't live a half-life.
Lol.

Thanks for the call to notice, it's needed for others to beware of such, not just on this thread or NairaLand, but in life generally.

As long as you didn't tag them scams, but simply stated the obvious and put a warning... it's Cool you did that.

All the best.

Sorry for not writing your name in full, Soul47, you really got my intention of the post.

Thanks for the comment sir.

Let us be careful of what we will invest our hard earn money in other to avoid being scammed. I stumble on this thread and sincerely i am inspired but i discovered the following on this thread. The most popular names on this thread are Balenciego, Nkemzy8, Bitcoinbeer, Olgasmith, Williamsuc and Soul. A look at their profiles here on nairaland reveal the following;

Balenciego registered on May 30, 2019. He had made 66 posts out of which 61 are on this thread.

Nkemzy8 registered on June 18, 2019. He had made 32 posts so far all are on this thread.

Williamsuc registered on June 18, 2019 the same day with Nkemzy8. He had made 9 post all are on this thread.

Olgasmith registered on June 19, 2019. He had made 20 posts which all are on this thread.

Bitcoinbeer registered on June 19, 2019, the same day with Olgasmith and a day after Nkemzy8 and Williamsuc registered. He has made 15 post all are on this thread.

[b]Soul [/b]registered on December 30, 2018. He has made alot of post across different sections.

Are these people except Soul not on nairaland before this year?
Why 98% of their posts are on this thread?

Though nobody has asked us to pay any money on this thread but i am just trying to tell my fellow nairalander to be very careful. Scammers can disguise in different ways they can even come like a helper.

A word is enough for the wise�

Benekruku:
False news. How was it Transmitted?

Those card readers have not that capability. And voting was done manually.


What transmitted thumb printing?

And the electoral officers that read results out manually, was it different from what they claim to have transmitted.

Their is no case here. Lawyers are the ones enjoying the pay masters.

Once card can't be read by SCR, such person won't vote
There was nothing like manual voting this year.

Good evening house, i am expecting more update from Cacawa2 about the launching of the place. I actually want to come and learn.

sundaykc3:
Pls pple, dragnet questions
sundaykc3@gmail.com

You have the questions?

Ricodine:
It's only text I have only received as well. Those that received a mail, when did it come in?

This evening

I received mail from them about the online logical reasoning test comming up on the 7th of June.

Price 3.8M
WhatsApp or call +2348139719235

[quote author=FunnyDude post=78227223]You all should check your mail [/quote

Mekzye:
Please someone should help me with the commonwealth shared scholarship portal login link to view my applications. Since the application closed I have not been able to log in to the portal through my normal process of doing it, ie using the apply link. It now brings out an error message. Please someone should help me out with a login link. Thanks

You can't login again, just wait for the result to be out.

Hi Nairalander, I am a fresh graduate serving the Nation right now. Often when I applied for job application online, they do require for CV and Cover Letter. Most time I don't have any working experience related to the application. Pls I need a guide on how to write a sellable CV and Cover Letter despite the absence working experience. Thanks

Note: the only experience I have was teaching in a tutorial during my undergraduate days.