How to Trade Crypto & Identify Market Manipulation
I interview Todd Blackburn, an active and successful cryptocurrency trader. He gives tips and guidelines for those interested in learning how to trade cryptocurrencies. He also describes Bitcoin Futures and what affect they have played on the market as a whole.
00:00-02:30 How do you choose which coins to trade?
02:30- 04:55 How do you choose your pairs?
04:55- 05:50 What are your thoughts on the phrase “buy the rumor, sell the news”?
05:50- 08:20 What are the cycles of trading activity during a 24hr period?
08:20- 13:30 How do you plan your charting for the day?
13:30- 14:30 How often do you reevaluate your charts?
14:30- 18:15 What are the technical indicators that you find to be the most reliable?
18:15- 19:30 How many open orders can you manage at one time?
19:30- 26:30 What has been the craziest experience for you with trading?
26:30- 30:00 How has BTC futures affected the market?
30:00-32:45 How can we recognize market manipulation?
32:45- 38:40 How can we address this manipulation?
38:40-39:40 What are some things that you see are misrepresented about day trading?
39:40- 44:10 How do you recommend beginners start trading?
44:10- 46:15 What is Fibonacci Sequencing and Elliot Wave Theory?
46:15- 54:30 What are some guidelines for beginners to help them avoid common mistakes?
54:30- 50:10 What is your Youtube channel focused on?
50:10- 52:34 Who would benefit the most from your Facebook groups and how?
Good advice! As a trader, your #1 job is to manage risk. You can't control where the market will go, so you have to control how much you're willing to risk on a given trade. Your success as a trader is not determined by how much money you have but how well you followed your plan! Have an exit strategy before you place a trade.
Clarify your goals from the beginning. Are you trading in hopes to profit in USD or BTC? ETH? This determines which chart to use. If you're trading alts, the alt/BTC chart tells you whether you should be hodling bitcoin even if the altcoin is gaining in USD. Hodling bitcoin is the opportunity cost to trading alts. Don't attempt to trade unless you believe your strategy can outperform a buy and hodl strategy. Strong hands!
Very cool. Todd is a real world class trader and a very helpful person.
I really recommend every steemian to follow him on fb https://www.facebook.com/51percentcrew/ and on you tube https://www.youtube.com/channel/UCvQ12D5GqyW1qtM0a3Qpwcw
Thank you both for a great interview. It was really packed with useful info.
I wanted to quickly elaborate on the Fibonacci sequences and why it relates to trading as many people do not understand the link.
The Fibonacci sequence is relevant because it relates directly to the "golden mean". The golden mean is a fractional curve that tapers based on the Fibonacci sequence and can be found in all organised systems. All living things are organised systems as well as many inanimate structures.
You can find the golden mean everywhere around you, from the aspect ratio of an A4 page to the curve of a shell, the length of your arm or the position of your nose on your face. By implementing Fibonacci sequences on a leaf we will be able to tell where the next stress point is and if it has enough impetus to to continue on it's tangent or will it run out of steam.
With that simplified explanation behind us it might help to understand how this can be used on trading exchanges.
No matter what commodity is being traded on the exchanges... People are the ones doing the trading. People are living creatures and in a collective they behave as an organised system.
The Fibonacci bands represent the impetus of the collective and can therefore be used to predict stress points.
It also helps that it is part of the academic curriculum which adds another level of predictability to the mix.
Thank you for supplementing! This is great info.
Thank you Heidi for the interview. Some very useful tips and advice. I created an article of the top 99 Steemit accounts (ranked by following) and you are is 58th place, which is really impressive! :) Here is a link:
https://steemit.com/steemit/@roberta92/the-top-99-most-followed-steemit-accounts-in-2018-updated
great job
Hi! NICE THANKS!
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Heidi,
Very good interview with a trader, with many examples of how he is winning. A different philosophy on how to look at your holdings and obviously a way to constantly grow your value. Not sure if I will ever be in the space to day trade, but these methods can help you increase those holdings.
We need traders for volume boosting (I guess)
Sorry for the offtopic. I'm hosting a panel for Women of Steem or Queens of Steem. I'd love for you to join and talk about your experience on the block. Feb 17th. 11am EST, 1600 UTC. We'll be live in PALnet Discord.
Thank you for this informative post. I would be interested to hear your views on the thesis that Bitcoin hardforks extract value from Bitcoin core and are having a negative impact upon the Bitcoin futures market. In effect helping keep Bitcoin in a state of backwardation. Do you think this view has any validity?
The link to this article is below:
https://www.bullionstar.com/blogs/bullionstar/bitcoin-backwardation-gold-contango/