₦airaland Forum

Omobola121:
Thank you Bros.

But I want to believe my submission is very clear and simple.

There is nothing bad getting a good job/business etc..while still doing crypto as a side hustle but everything is bad if crypto is your everything as a young person.

For how long will you keep analysing the market? We are going up today, tomorrow we are done.

SmallDick99:
Explain this hedge thing for me pls

chuksme:
Please I need Clarification on these 3 words or strategies.

(1) Scalping

(2) Swinging)

(3) Day Trading

Please explanation on each of them. i am always confused between scalping and Day trading especially.

chuksme:
Please I need Clarification on these 3 words or strategies.

(1) Scalping

(2) Swinging)

(3) Day Trading

Please explanation on each of them. i am always confused between scalping and Day trading especially.

Geovanni412:
Hedge means to protect your risk and minimise losses. In my view, It is ideal if you believe you can get at least a 1:2 risk-reward ratio on the trade but you are unsure of the direction the market will go.
Here's how to play it :
First, you need a decent level of chart knowledge (support n resistance--the basics).
Then If you suspect btc will make a big move but you're unsure of the direction, this is what you do:
Look at the chart and go both short and long. For stop loss - you see that indicator called ATR, na your best friend be that. Enter both positions using either 2X ATR reading on 4hr or daily ATR reading.
example : Doing that with the chart as it is now, the price of btc is 21481, so if I suspect a breakout upwards--(look at the picture of the chart i posted for the atr reading) . If i suspect a breakout upwards, i would place a buy at 21480 with a sl of 20781 - i got a s/l of 20781 by doing this small calculation:
4hr atr is 360
2*360 is 720
21480-720 = 20760
For the short position, my s/l would be around 22200 -I'll explain in the summary area how i arrived at this value. Then I'll risk the same amount on both the short and long positions.
In summary, to get long s/l.use (current price - 2*4hr atr value) OR (current price -daily atr value)
to get s/l for my short , use (current price + 2*4hr atr value) OR (current price +daily atr value)
The option of using daily atr value is if you prefer a wider stop loss.

Any confusing point so far? Thank you for your time in explaining this.

Geovanni412:
Hedge means to protect your risk and minimise losses. In my view, It is ideal if you believe you can get at least a 1:2 risk-reward ratio on the trade but you are unsure of the direction the market will go.
Here's how to play it :
First, you need a decent level of chart knowledge (support n resistance--the basics).
Then If you suspect btc will make a big move but you're unsure of the direction, this is what you do:
Look at the chart and go both short and long. For stop loss - you see that indicator called ATR, na your best friend be that. Enter both positions using either 2X ATR reading on 4hr or daily ATR reading.
example : Doing that with the chart as it is now, the price of btc is 21481, so if I suspect a breakout upwards--(look at the picture of the chart i posted for the atr reading) . If i suspect a breakout upwards, i would place a buy at 21480 with a sl of 20781 - i got a s/l of 20781 by doing this small calculation:
4hr atr is 360
2*360 is 720
21480-720 = 20760
For the short position, my s/l would be around 22200 -I'll explain in the summary area how i arrived at this value. Then I'll risk the same amount on both the short and long positions.
In summary, to get long s/l.use (current price - 2*4hr atr value) OR (current price -daily atr value)
to get s/l for my short , use (current price + 2*4hr atr value) OR (current price +daily atr value)
The option of using daily atr value is if you prefer a wider stop loss.

Any confusing point so far?

Geovanni412:
Bro, you can take a short on btc with s/l at 22600 with tp 1 at 19800 and tp2 at 19100. I doubt btc will violate the stop loss of 22600.
The move is risky considering how far btc has dropped- so if you want to play it super cautious, enter with HALF (1/2) of the risk you'd normally play with for your normal futures trading.

Mynameis007:
Guy, you don't sound convincing with your calls, abi na analysis.
If I was a day trader, I won't feel comfortable with your calls, because your calls or analysis lacks in depth explanation.
All you say is do this, do that, yet, I haven't seen the results on the Bitcoin chart to suggest you're good with your calls.
And I'm not just saying this based on recent price movements, I've been following this thread silently and reading your comments and price predictions.
It's more of a guess work than actual knowledge of the market movements.
Just my observations anyway, no hard feelings.

Titanium001:
And you think your criticism is constructive? SMH. If you truly are a follower on here as you claim, you would have seen his call where predicted a dump to the current price, even when things seemed opposite to all. I happen to be one of those people regretting not taking that call. Price movement has not been as unpredictable as the last 3 days or so in a long time, even to the very seasoned ta and faists. So stop naming a dog bad just to hang it.

Hypocrisy @the bolded

seankafor:
so why are you telling us

Mynameis007:
You regretted not taking the call because it was a vague call, meaning it wasn't specific.
Even when the markets were all green like green grass for weeks, he made a comment about buying at 21k or even lower.
Listen, I'm not trying to rain on his parade, I'm only pointing out the weakness in his analysis and calls.
It's nothing serious.
Take a chill tablet.

Realboygenius:
I don't think it's on Yellowcard but you can get other coins.

Titanium001:
And now you are even claiming to know my reasons for not following his call, when you don't know me. The bolded came true, and after that, other calls have keeps hitting target back-to-back, but all you can see in the guy is still weaknesses.
See, I know your type and you are the one in need of a chill pill. You need to learn how to appreciate the good in people, no matter how little it seems. No one is paying him for these helpful info, neither is he forcing them down anyone's throat. As a 'crypt0 investor', you should know that if you are not 'convinced' by a call (in a bear season at that), you either move on to the next one or sit out. Not to be a cry baby, ah ah!

Mynameis007:
You regretted not taking the call because it was a vague call, meaning it wasn't specific.
Even when the markets were all green like green grass for weeks, he made a comment about buying at 21k or even lower.
Listen, I'm not trying to rain on his parade, I'm only pointing out the weakness in his analysis and calls.
It's nothing serious.
Take a chill tablet.

atinga1:
Oga, go and sit down! You employ anyone here to make calls for you? Crypto can go either way. Even Kingsteve who believes he's good at reading charts, was given an unexpected kick at his butt

altcoinng:
9 Mistakes of New Crypto Traders in Nigeria

Altcoin.ng has compiled a list of the 9 most common mistakes made by new crypto traders in Nigeria when trading and investing in cryptocurrency.

Common Mistakes by New Crypto Trader

Unwillingness to analyze the market independently.

Many Nigerian crypto traders are not ready to analyze the market by themselves, they prefer when a crypto influencer on Twitter or on youtube tell them what to buy, and what to sell. You should never live by other people’s wisdom. Listening to the advice of “experts” from Twitter, Youtube, telegram, or WhatsApp groups, who prophesy the growth rate of cryptocurrencies and advise when and how much to buy can make you lose everything.

Lack of patience.

It’s impossible to stay cool, especially following the news on Twitter. “Oh my God, the price is pumping, let’s buy!” or “Bitcoin won’t go up anymore, we need to dump it now!” Such messages are found at every turn. In reality, only the most patient and those who really want to understand how to play the cryptocurrency market wins. Warren Buffett once said: “The stock market is a tool for passing money from the impatient to the patient.” This is equally true of the digital currency market.

Premature selling.

It is important to always have a strategy for selling assets. It is impossible to predict how much a particular token will appreciate. When the price of ether rapidly went up, many early investors, fearing a natural correction, sold at $100-120. Those who rushed to sell their ether, are regretting it now. You need to set clear goals based on technical analysis of the market and go for them, taking your time to buy or sell cryptocurrency.

Storing assets on exchanges and in electronic wallets.

This is the most serious mistake made by many new Nigerian crypto traders. Users have lost hundreds of millions of dollars as a result of hacker attacks or due to the sudden shutdown of services. private Keys and seed phrases should be kept with you at all times.

Unwillingness to learn.

Many new Nigerian traders are not willing to learn, they trade with emotions rather than learning how the market works. Trading on your own is very difficult. Everyone who has succeeded has done so with the support of more experienced like-minded people. To avoid mistakes in the cryptocurrency market, novice traders and investors need friends to learn from. The easiest and most effective way to find them is to become a member of one (or more) specific crypto communities on the internet.

Sending your tokens to the wrong wallet address.

Most new crypto traders in Nigeria make this mistake. You shouldn’t send Bnb to an ETH address or your LTC to Doge wallet. Good thing that this mistake can be corrected. An Ether Wallet can hold different cryptocurrencies as long as they comply with the ERC-20 standard.

No physical copy of private data.

A password in a Word file stored on a PC is not a physical copy. You need to write down keys, passwords and other important information, print it out on a printer, and hide it away. That way, if something happens to the PC, it won’t be difficult to regain access to accounts and accounts from the new device.

Neglecting security tools.

First and foremost, we’re talking about two-factor authentication. You should use it wherever possible, and keep the key on paper in a secluded place. No help desk in the cryptocurrency world will help if the user has refused to enable two-factor authentication.

Trying to Fomo (Fear of missing out)

We have seen many Nigerian crypto traders trying to FOMO and end up losing all their money. New opportunities to make money from cryptocurrencies appear several times a day. You shouldn’t be afraid of missing out on some ICO or some rise in the price of some tokens. It is better to refuse an unprepared transaction, postponing it for the next time.

https://altcoin.ng/9-mistakes-of-new-crypto-traders-in-nigeria/

Geovanni412:
Hedge means to protect your risk and minimise losses. In my view, It is ideal if you believe you can get at least a 1:2 risk-reward ratio on the trade but you are unsure of the direction the market will go.
Here's how to play it :
First, you need a decent level of chart knowledge (support n resistance--the basics).
Then If you suspect btc will make a big move but you're unsure of the direction, this is what you do:
Look at the chart and go both short and long. For stop loss - you see that indicator called ATR, na your best friend be that. Enter both positions using either 2X ATR reading on 4hr or daily ATR reading.
example : Doing that with the chart as it is now, the price of btc is 21481, so if I suspect a breakout upwards--(look at the picture of the chart i posted for the atr reading) . If i suspect a breakout upwards, i would place a buy at 21480 with a sl of 20781 - i got a s/l of 20781 by doing this small calculation:
4hr atr is 360
2*360 is 720
21480-720 = 20760
For the short position, my s/l would be around 22200 -I'll explain in the summary area how i arrived at this value. Then I'll risk the same amount on both the short and long positions.
In summary, to get long s/l.use (current price - 2*4hr atr value) OR (current price -daily atr value)
to get s/l for my short , use (current price + 2*4hr atr value) OR (current price +daily atr value)
The option of using daily atr value is if you prefer a wider stop loss.

Any confusing point so far?

Geovanni412:
Scalping- trading for 2 percent and the likes. Your risk is more than your reward. Where you are risking 10 dollars to win anything that is less than 10 dollars
Swinging- looking for the BIG move or home run. Taking a trade that gives reward more than your risk. Swingers are ready to hold onto a trade for anywhere from one days to a few weeks, sometimes months sef.
Day trading - looking for trade wins for that day alone. They close every trade at the close of the day. Daytraders could be scalpers or they could be swingers. Either way, they never allow a trade roll over into a new trading day.

kodred:
1. When you enter the market and get out in short time periods i.e 5mins to 1hr or 2 hrs but less than 24 hrs. You need to be strict on your exit to scalp successfully.

2. Swinging is when you get the assets low and wait for days or several weeks to sell high. You must know how to spot trends to swing successfully.

3. It’s when you enter and exit the market in a 24hr time frame.

Goldbw122:
That means you get half of your coin when it hit your sl, nice one.. you won't lose all your coin.

Geovanni412:
At the very least, that is what will happen if everything plays out well.

Mynameis007:
What other calls came through?
Seems I missed a lot of these calls.
Can you please be more specific and tell me the calls he made that came through?
Since you want to drag something that's not your business, oya, let's go there.
Start by taking screenshots of the calls you claim he made on here that came through.
As far as I can remember, he talked about this 21k drop when the markets were showing good signs of recovery, and also the 14k call.
Since you want to drink panadol for another person's headache, show me the screenshots.
Maybe I missed those calls.

Llizyy:
I have a paid job, but sometimes am tempted to jump into coins that are pumping, Am controlling myself now. Might even uninstall my binance app. Started this crypto stuff 6 months ago.

Mynameis007:
Just to add: If my memory serves me right, every other person dropping calls or analysis have been criticised in one way or the other.
Some have stopped, while one of them has improved and showed consistency.
Is Giovanni exempted from criticism, especially when his calls or analysis doesn't sound convincing enough?
Did he not mention Bitcoin price dropping to 19,800 yesterday?
Did he not suggest opening short trades, even when a few people told him that going short isn't the ideal move to make?
See, I read all the comments on here, so don't come and act like I just dropped from the sky to spew what I don't know.

Born2conquer:
Nigerians and entitlement sha, you dey pay am to drop signal?

Person dey do personal research drop free signal for everybody you dey attack am.

He owe you anything?