RE: Splitting cold wallets and trading BitcoinCash + Coinbase has issued an update
Hi Great Luc!!
It's me again with a question paper :-)
First of all I will share my experience. I've started trading 2 days ago. Let's say with a small account actually you can call it a tiny account because my capitol is very very low. Because I am still testing stuff :-)
What I tried was Day trading which you didn't recommend for a beginner.
Here is my first trade.
Right after I got the notification from the scanner I rushed to HitBTC and bought Maid coins which unfortunately I think I've bought on a pump or something the coin didn't go up even after waiting for a half day. So I just sold them taking a loss. I don't worry because I bought only 2 coins and they worth only cents :-P But I learned a good lesson from that..
2nd and 3rd trades were OK. Bought 1 AMP and 1 BOS coin and sold but not much profits 1 cent or 2 cents. Anyway I am happy I didn't loose :-)
Tried your strategy and no one can beat you.. It worked.. Here is what I did.
I set some alerts on DOGE and BTS which went off but unfortunately I was sleeping at that time and when I was checking they had gone up again. Anyway this proves your method always work :-) If I was around I would have made 10% or 15% profits. :-)
Now the question paper :-)
1. I often see good charts on ETH pairs than BTC pairs. I could be wrong because I mostly work with low volume coins. Is this normal? That means most of the time we have good ETH charts to trade on than BTC and can lower the risk?
2. What your idea about these kind of charts? They look so weird to me, Can we trade these? :-/
https://www.coinigy.com/s/i/598876b6ba087/
3. I would also like to become a full time trader. But to be safe I would like to trade on all the markets not juts Crypto market. So is there any good book which a beginner should read? Which I can take those methods and apply to any market including Crypto ? I know all the markets aren't the same but there could be something general to all of them..
4. I like to try Forex market and Binary options. What's your opinion on that?
5. I also like to trade Penny stocks like you.. Can a Non US or Canadian person do that? With a small budget of course. Any broker supports online trading? Any tutorials or something you can recommend for a beginner to start in that market ?
6. I would like to try all the markets, Could you suggest which are good for a beginner (Forex,Penny Stocks,Binary options,Commodities and etc...)?
7. When some big guys like institutional players take over the market what small people like us do? Then we won't get any opportunity :-(
8. My last question :-) (For today :-D ), When more and more people start to use your strategy (and you become a celebrity :-) You already are for us :-D ) will there be a day that this method won't work anymore :-( ?
Thank you very much Luc and really sorry for this long post. Since you are super busy I asked all at once so you can answer them all quickly and get back to trading..
Thank you!!
You can trade anything that is repeatable, so that you know your odds. So if you are looking at a chart you need to take time to read the charts story. How much volume get traded everyday? (is your account too small or too big for that amount of volume) So sure you can trade that chart you posted if there is enough volume everyday for the size of trades you want to take..
I have never found a book that explains trading acurately. The most important part of trading is timing. You have to be patient and wait for the right time, you need to buy where the chart tells you to buy. All of this is explained in my videos. (most traders get excited and buy too soon, even I feel like that sometimes, so I nibble if i really want something.. but I only buy with size when its truly at the right spot)
Forex is complicated, because there are alot of factors influencing the price.
Binary Options is basically gambling, you have almost no edge.
Penny stocks are exactly like Cryptos, except big commissions to pay and more dangerous moves because of criminal activities/manipulation.
Comodidties and Futures trading is very high pace, and you are trying to make small fractions on price. Your edge for that type of trading will be your tools, and fast fast execution, Hotkeys and Dom trading.
But nothing is easier in my opinion than cryptos, and since it just keeps going up, even a lousy trader will make money (for now).
My method has worked for me for 11+ years because its mathematical. Simply put, if your odds of a trade working are over 90% then why wouldn't it work? It had to work 9 out of 10 times already just to qualify the chart your thinking of buying, otherwise you wouldnt take the trade... Math
Would you like a spatula? For your bunghole?
@quickfingersluc Great explanations man, Just great.. I'll read this comment again and again.. So every time I learn something from you..
I really wanted to try Forex but you seem not much interested which means I have no chance at all. (if a legend doesn't do how a noobs like I do.) Penny stocks would be the one to check then.. I liked stock market since a long time but our local stock market sucks and government also sucks so I don't like to invest there.. No profits..
Thank you for your time...