10 Big lessons for Crypto traders.

in bitcoin •  7 months ago

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https://steemit.com/bitcoin/@zihad16/10-big-lessons-for-trading-crypto

A fantasticly simplistic, yet in depth read into the strict rules and discipline necessary to make a successful trader.

As a trader myself i can say @zihad16 is absolutely bang on here with his rules to trading success and I follow each of these rules myself in one way or another.

Ask any experienced trader what they think of the rules set out in this article and you i'd bet money on it they would say the same thing.

Enjoy!

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Upvoted. And now following. I like your analysis method and look forward to reading more of them as this progresses.

What do you think about sometimes augmenting TA methods with fundamental value methods? For instance, this fundamental metric that I blogged about here seems to correlate a lot with BTC prices just about as much as Elliot wave analysis and many other TA methods:
https://steemit.com/cryptocurrencies/@kenraphael/this-single-metric-seems-to-correlate-more-with-cryptoasset-values-the-past-two-weeks-than-most-predictive-methods. I would appreciate an upvote/resteem as well if you like.

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Thank you! The fundamental side of BTC is just as important if not more so than the technical side. But as a technical trader I have been able to -over the years- intergrate the fundamentals into the strategies I use with the understanding that most upcoming fundamentals on any given instrument are usually priced in.

However, what you have found there is extremely interesting! Im wondering if the chart for new accounts moves the BTC price at the same time or if there is a time difference that could give a potential to trade using the new accounts chart. Me personally, I'd need a candle chart of new accounts to technically analyse the fundamentals side. That could be an extremely interesting idea to look into!

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Agreed. A combination of both - factoring fundamentals into reinforcing what the chart says can prove to be quite powerful, I think.

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I have found that fundamentals can be a hindrance, though. The technical chart patterns tell you all you need to know, because the fundamentals are priced in to the price charts. This is 100% fact with Equities, futures and Forex, but as Crypto's are new, I cant really say this is the same case just yet to be honest. I would imagine so. But with trading in the hands of smaller bedroom investors the way ALT Crypto markets react to fundamentals is quite different to other financial instruments.

good reminders indeed!