Introduction

My fellow steemians,
I am so delighted to be a part of these amazing program going on the steemit platform. Sincerely this very program has help me to widen my horizon on blockchain and crypto currency through the lectures delivered by the various professors and my research in carrying out the assignment task usually given. Having attended the lecture delivered by our own very dear professor in the person of @yohan2on, on the topic The Swing trading style", I am happy to present my homework task here, this is to prove or indicate my level of understanding concerning the class held by the professor. Please read through and learn a bit from my blog as well.

First and foremost lets look at what trade is all about. Trading means the act of buying and selling of goods as well as services. In financial institutions we say trading is the act of buying and selling of an asset. We have various types of traders among which are day traders, swing traders scalping traders, and position traders.
In other to be a successful trader you should consider the following facts.

• You shouldn't expect to be successful at all time
• You should always be ready to lose but always set paste for your lost. That is not losing everything at once.
• Trading has to do with money investment either for long time or short time.

Swing trading on BTC/USDT Trading Pair.

The word swing traders are traders who trade the market in days, weeks, or months this is because they fully studied the market and understand it very well. At the course of this task, I will be trading BTC/USDT trading pairs. For you to trade as a swing trader, you are rquire to check the chart on a regular basis or as often as you can so as to determine your entry and exit position.

For the sake of this assignment, I will be using https://www.tradingview.com as my tool to exploit this is because it has the necessary tools needed to carry out this task effectively and efficiently.

What's your Entry and your exit strategy?

Before looking at the entry and exit strategy, let's first look at what trend is all about. In a lay man's understanding, a trend is something that is in existence as at the very present time. Technically, we can see Trend as the movement in a specified direction of a given market. This trend can be either

• uptrend:- As the name suggest uptrend is a type of trend that goes up.
• downtrend:- This trend is the direct opposite of uptrend that is this type of trend goes down.
• horizontal trend:- Horizontal trend is a type of trend that moves side ways that is it moves right to left and vise versa etc.

Multiple time frame analysis

When talking about Time frame analysis, we will be looking at both day traders and swing traders timing. These two traders have their different timing when it comes to trading. The day traders uses 4 hours, 1 hour and 15 minutes trading time frames whereas swing traders use the weekly chart time frame, daily chart and 4 hours chart time frame respectively.

Each candlestick represents a week. It gives a larger view of how the market is doing.

Daily chart helps identify trends and check the market movements in days, and weeks. Each of the candlestick represents 1 day.

A chart to check trends, supports, resistance, divergence, reversal, entry, and exit.

Candlestick analysis and use of other relevant supporting indicators for your trade decision.

From my little finding, I discovered that before entering a trade in any direction, be sure that the trend of he 4 hours is the same as the 1 hour chart. If the trends are different, then do not enter a trade. But if the trend are the same then the trade is welcomed.
Below is a screenshot of both 4 hours and 1 hour chart respectively so looking at both we can say or not whether to enter the trade.

Trade management ( Setting stop loss, trailing stop and take profit)

Here it is important to mention here that the fact that you analyse the market price, it is not a guarantee that you will make profit from that trade hence the need for the Stop loss.

Conclusion

In conclusion, we can see that the market is never constant so no matter how you analyse you are just trying your luck. But it is important to note that trading is not always easy and we should always try to stop losses. These lecture has actually exposed me to many things.
My appreciation goes to professor @yohan2on for this great lecture. I have learnt a whole lot. I look forward to learning more from you and other crypto processors as the course progresses.

Cc:
@steemitblog
@yohan2on