Crypto and Trading Resources
The 10min Millionaire is a solid book on how to start studying how to day trade, swing trade, or even trade long term. Picking a time frame for each trade has to be your first decision.The book though is still an entry level book on all the information you can use when you analyze a trade. It does a good job of helping you read candles and what certain types and patterns may indicate.
Learning about Elliot wave theory will give you a better understanding of the psychology behind the technical analysis you might see a lot of people do when they make charts on Youtube. This is a course study though. The notes on the link I have here are again just a basic understanding and piece of Elliot Wave. I am still studying it and this is what I spend most of my time with now. I use it to create targets for when to sell and when to buy back into a trade.
Elliot Wave Theory:
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory
The Elliott Wave Principle: Key to Market Behavior by Robert Prechter is another book you will want to pick up.
There are also 2 documentaries on Netflix on Bitcoin and Crypto. Knowing the history and understanding where it came from was huge from me, especially in building my overall long term bullish stance on the market.
There are 2 people I whose charts I would look at and compare to my own:
Both have Twitters, YouTube, D-Tube, and Steemit accounts. I would follow all of them. They both also have tutorials that explain Elliot Wave analysis and how they utilize it. If you watch enough of their videos showing you how they chart, and you can start understanding the rules, spotting patterns, deducing counts, and seeing what they see, you will then be able to start charting for yourself on www.Tradingview.com And then start utilizing the same exact tools they use when they chart. This is also what I use to chart. The account you make there is free.
Other tools:
Fibanocci Retracement
MACD Indicator
Moving Averages
Exponential Moving Averages
Bollinger Bands
Volume
Etc....
These are all tools that they use when they chart. Learning what each is used for and what it indicates could happen will greater increase your ability to minimize risk and create more accurate and realistic targets when entering and exiting a shorter term trade. Typically when entering a swing trade I will use 10k-12k of capital and shoot for a 6-10% gain - and look to make 1k as my goal. Knowing where to place a good stop loss minimizes the risk of loosing anymore than $100-200, with the potential for me to make 1k on each trade. If you can successfully do this a few times in a week you might loose $500-600, but should still make 3k-4k in a week assuming you are only right only 50% of the time. Philakone does a good job of explaining risk management when entering a trade and he is very very good at day trading. Haejin Lee is better with longer term targets and timelines. Watching their videos are great, but if you don't understand the terminology and reasons why they are drawing their charts and counting the way they are, then it won't make much sense to you. There can be a number of acceptable charts that follow Elliot Wave rules, and it will not predict the future, but it does give you probable targets based on specific criteria and market conditions.
I started off trading penny stocks and I learned a lot from the videos Tim Sykes made and his system. That was the basis from where a lot my own knowledge came from. I believe hes actually into Crypto now but its been a few years since I've looked him up. But a chart is a chart and many of the same trading principles he teaches can be carried over to Crypto.
https://www.timothysykes.com/
www.Coinmarketcap.com is the first place I go to when looking at the market. The total Market cap and Bitcoin price being the 2 biggest indicators and most important things to consider. You need Bitcoin, Litecoin, or Ether in order buy alt coins, so the total market cap of bitcoin, and the price of bitcoin is very important considering that it changes value of 1 Satoshi as the bitcoin price changes.That by itself is what determines what I do with bigger longer term positions even though I don't really have much Bitcoin in my personal portfolio because I prefer Litecoin - Litecoin follows the same pattern as Bitcoin but has historically had a better percent gain potential. Bitcoin went up from $800 to 20k last year while Litecoin went up from $4 to $400 at their peaks. Looking for the total marketcap to increase over 350bil, 400bil, 500bil, 600bil, up to 1 trillion is the trend I look to monitor right now. It was up to 850bil in December and sits at about 315k today.
I will follow the fundamental analysis and news but only to a certain extent. CNBC fast money is a good place to follow, they are pretty bullish but I like their perspective. I do look to filter the news I find, listening only to facts. Too many people are trying to pump this or that, or the opposite spreading fud. I like to come to my own conclusions based on the facts I analyze.
These guys do a good job of keeping it objective and as a matter of fact, although still bullish:
Crypto R US
https://www.youtube.com/channel/UCI7M65p3A-D3P4v5qW8POxQ
Decentralized TV
https://www.youtube.com/channel/UCueLJ4vLHTwMpYILmdBjRlg
The last thing I use to make my personal buying and selling decisions are the info i get from:
https://www.mariuslandman.com/
&
https://www.palmbeachgroup.com/content/palm-beach-daily/follow-this-strategy-to-rip-profits-from-the-crypto-boom/38199/
Mostly Marius because I have a membership and follow his telegram and twitter. He has been pretty accurate in my experience although timelines have off in some cases, he is pretty spot on with his trend forecasts which will completely change how I might look at longer term trades. Teeka Tiwari and his group was where I got the original tip to get into Crypto. It costs 3k just to get into the group to get his reports and jump on his conference calls, but he was the reason I even looked into buying Ripple at 20cents in Novemeber (Ran up to 3.20). I do not have a membership to the Palm Beach Confidential though, and they are not taking more people at this time. He is calling for 5-6 trillion market by the end of the year, if that happens then any long term investment within the top 15-20 cryptos will go up in a big way. I believe in 3-4trillion by December is very likely and that 5-6 Trillion is possible. Either way, even if it only ends up at 1-2 trillion, there is money to be made.
Exchange Sites:
I use:
www.coinbase.com
www.binance.com
www.bittrex.com
www.bitstamp.com
Coinbase and Bitstamp are the only ones you can use USD cash. When you start using Binance and Bittrex you will have to move Bitcoin, Litecoin, or Ether to Binance, Bittrex, etc.. to buy some of the other coins you might read about. Setting up these accounts can be a pain with all the info you have to upload, and waiting to get verified. Bitstamp is a European based company though and I only started using them because coinbase limited the amount of money I could deposit to a few hundred dollars/week for the first 50days. Since then my limit was increased to a more substantial amount, but I know longer need to deposit capital at this point.
I hope this helps. I am still studying the market, but just so you have all the resources I use if you want to start getting into this thing. Looks like the market is moving in the right direction again and assuming a Bull Cycle comes between now and June, it may be that much better than what we saw in December into January.