Trading Bitcoin For Profit?
The origin of this cryptocurrency trading signals cheatsheet is not know, though I saw posted on instagram by a friend Timothy Lee.
WARNING: This is NOT investment advice!
Over the pas couple of months I have seen a lot of facebook groups pop up offering (usually for a fee) trading advice and 'signals' for trading cryptocurrency and suggesting you can make a living doing it.
WARNING: Do not confuse brains with a bull market!
This saying was prevalent in the 1987 stock market era where everyone thought he was a genius because his stock picks were going up. Duh! It's a bull market where a rising tide lifts all boats - including some garbage floating around in the ocean as well.
We saw the same thing with all the Barbara Streisand style AOL day traders of the late 1990's 'trading' tech stocks and 'making a killing' - until the market crashed!
Cryptocurrency trading is and will be the same thing...
When the market is in rocket launch mode then buying crap and watching it go up is not 'day trading for a living', it's getting lucky. Sadly I think a large number of 'cryptocurrency day traders' have recently learned this the hard way.
And NO, what goes up does not come down. It may come down. Witness the geniuses who refused to buy Google stock when it IPO'd because "$125 is simply too much to pay, it will come down".
Newsflash: it never did and now goes by Alphabet and trades in the $900's.
The most money we will probably make will not be trading crypto's but buying GOOD ones and holding.
Trade At Your Own Risk
If you really think that you are that 1 in a 100 (or less) who can consistently make money trading, then do more research than just studying the charts above.
Remember: If it was easy, everyone would be doing it - and, you'll never beat the computers!
Perhaps you can 'tag along' with the computers and the big boys yet you will never be able to respond like they do, even if you never leave your computer screen.
What I think the best use of the trading signals above is finding good entry points on the coins that you feel are a good medium to long term hold and can hopefully help you avoid the trap of trying to 'catch a falling knife' when waiting for that better price to buy bitcoin or some altcoin.
Also, one of the biggest mistakes I have made with investing over the years is buying something that is heading down and NOT buying something that is headed up, simply because I thought it was too high priced (and yes, Google was one of them!).
Study these chart signals.
Study trading theory and mob theory.
And be ready to lose what you put on the line!
REMEMBER: Quality always wins long term!
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STOPHey,
Loved your content! I am writing on the same lines can you please let me know your views on the same.
https://steemit.com/bitcoin/@kushagrasingh/6umqg2-understanding-cryptocurrency-trading-signals-dows-theory-and-it-s-6-tenets-in-500-words
This is one of the most useful charts I have found, thank you!
I agree! Really useful and informative. By the way, check our service https://safetrading.today/
Hi there!
I recommend this: http://elitecryptosignals.com/
It’s a Discord Group and with their signals you can make around 10% profit each day.
They provide both free and premium signals based on technical and fundamental analysis, and it’s a very good and friendly community.
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This content deserves an upvote. Really informative especially for the new traders on the current market we have. Good thing Cryptocurrencies.Ai will be launching this November that will allow traders to do technical charting, market research, manage your portfolio from one platform.
Sign up now on the website to reserve your spot on the free beta platform: https://cryptocurrencies.ai
Also, join the telegram group to receive the latest updates and announcements: https://t.me/CryptocurrenciesAi
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