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RE: Trading with moving averages, pattern recognition and forecasting.
I've been reading some of your trading posts and being new to trading have had difficulty understanding your terms as well as the 7 21 77 lines or how you get the info. Clearly I'm new to trading as a whole. Any way you can help me understand better? I've had some decent results so far by following your advise as well as others and have had better luck doing "fantasy trades" to see what I would have gotten. However; I'm still confused by some of the terms you use and I'm feeling a little lost
7 21 77 are moving averages. Moving averages are nothing more than a line that averages price movement over a set amount of periods. So a 7 is the average price over 7 periods relative to time frame. So if I am looking at a 5 minute chart the 7 is representative of 35 minutes, whereas if I am looking at the 1 hour it represents 7 hours. It moves quickly as it gets its average from a shorter span of time. The 21 would be average price over 21 periods, and 77 would be average price over 77 periods.
To give you a better idea go here: https://cryptowat.ch/bitfinex/btcusd/15m
That is a free charting service, in the upper right hand corner are tools. Go to SMA (simple moving average) and select your time frames.
This may also help..
https://www.investopedia.com/terms/m/movingaverage.asp
Here is good as well:
http://etfdb.com/etf-trading-strategies/3-simple-moving-average-etf-trading-strategies/
In the last article a 10/30 would be a 7/21 for me. If you have any questions feel free to ask. Also fantasy trading is great as there is no emotion, you can trade like a bot, because there is no fear of loss. The trick is to have that same emotional detachment when real money is on the line. Kinda like being with a girl that's fun to (netflix and chill with) but your not going to be upset if she never calls again- emotionally detached..
Thank you very much for explaining this. The links helped too. Now I can re-observe with a better understanding.
No problem anytime...