Trading training

How to trade and only losing max 2% of your trade
https://cdn.discordapp.com/attachments/362286924947521536/366816770985820161/iu0lQ1t.png




The flag and pennant patterns are two continuation patterns that closely resemble each other, differing only in their shape during the pattern's consolidation period. This is the reason the terms flag and pennant are often used interchangeably. A flag is a rectangular shape, while the pennant looks more like a triangle.

These two patterns are formed when there is a sharp price movement followed by generally sideways price movement, which is the flag or pennant. The pattern is complete when there is a price breakout in the same direction of the initial sharp price movement. The following move will see a similarly sharp move in the same direction as the prior sharp move. The complete move of the chart pattern - from the first sharp move to the last sharp move - is referred to as the flag pole.

MORE info : https://www.investopedia.com/university/charts/charts6.asp#ixzz4zQC4LdEJ















RSI - known as Relative Strength Index - is one of the very important tools that the staff and I use frequently when making TA on coins. What is RSI? RSI is the momentum of a coin's movement, taking in account both speed and change in the direction of a coin.

Calculation for RSI: 100 - [100 / (1 + RS)]
Calculation for RS: Average Gain / Average Loss

You don't need this exact formula because most tools (TradingView, CryptoCompare, etc.) have a chart for RSI that you can view on coins, here is an example on trading view: https://image.prntscr.com/image/nckcKkjZSguZ7dQpxTAyXw.png

Now what can you do with RSI? You can do a few things:

Check if a coin is overbought or oversold.
You can look at the current RSI of a coin, a general rule of thumb is that if the RSI is >= 70 then the coin is overbought, if the RSI is <= 30 then the coin is oversold, in between it is neutral, although the closer you move to 100 or 1 indicates whether the coin is more overbought or oversold. A coin being oversold is a good opportunity to buy as it is being bottomed out, a coin being overbought is a good opportunity to sell as it is probably near a local high.

Checking for divergence patterns.
There are two divergence patterns, bullish divergence and bearish divergence. Of course bullish divergence is an indicator for a coin making big moves upwards, vice versa for bearish divergence. What defines bullish divergence? If the price of a coin hits a new low, but the RSI is higher than the previous low, then we have bullish divergence. This can be seen in the following image: https://image.prntscr.com/image/teECvfTJRCCW1SuxRtxrxQ.png
Vice versa for bearish divergance, if the price of a coin hits a new high and the RSI is lower than the previous high, then that indicates bearish divergence in which the coin is very likely to fall. These are great indicators for movement in a coin.
Spot Bullish and Bearish signals













































































https://cdn.discordapp.com/attachments/362286924947521536/378523523066363906/POT_EDU.png
https://cdn.discordapp.com/attachments/362286924947521536/378524671462735872/POT_broke.png


Great use case of bollingbands, a lot of marine traders use it


I heard that some people lost some money this morning by alts falling after this major pump. People need to realize that when coins pump signficantly they don't stay high forever, and to be honest this crash came in fast but I wasn't too shocked. In order to prevent yourself from losing a lot of earned profit from a pump, you need to move your stop losses. Don't keep your stop losses down low while the coin is pumping, move them up as the price shoots up. I usually wait a bit and set a stop loss below the current support or below big buy walls, so that if those walls are broken I can sell almost instantly before the price crashes. When people start massively selling a coin and break the strong support/buy walls, the overwhelming orders usually cause the price to plummet so that is a good place to set that stop loss while you are already in profit. As the walls move with the increasing price, feel free to move up your stop profit. Remember, even if you sell too early, PROFIT IS STILL PROFIT and is better than losing the profit you already made. In this example with ARK, the blue lines indicate the point in time where I set my stop profits and where I set them. The red line is the support that formed after the pump, and I eventually settled my stop profit right below support. My stop profit ended up being triggered while I was still in major profit, and the price plummeted when it fell hard. I am very glad that I sold it then rather than now, and if you guys can follow this idealogoy your profits will be a lot bigger in the long run. Green indicates where my stop profit was triggered



































































Tips&Tricks for starters

Another suggestion that I also have for beginners is to first practice by looking at charts in the past. Cover one half of the chart with something to hide it. Then, apply your learnings and try to make a pretend trade. Then take the cover off and assess how you performed
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Once you get consistently good results using this method, then grab 20$ worth of bitcoin and go to your favorite exchange. Pretend its 20 000$, and start trading. This part mainly focuses on controlling your emotions. Really pretend that 20$ is 20 000$. So a 1$ loss is a 1 000$ loss. Use this to trust your own technique and judgement, and not buy into FOMO or sell out of fear.
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Many good trading books
https://www.dropbox.com/sh/fhj9iwq0rdkf4bu/AADs8YUlPWCjUStI0lM855V_a?dl=0

Learn more about What bitcoin really is
http://lopp.net/bitcoin.html














VIDEOS
3 most common trading mistakes
https://www.youtube.com/watch?v=RwBklKnIXfQ

How to recognize false breakouts
https://www.youtube.com/watch?v=GxT-h0WF1OE

Protect yourself & profit from coming stock market crash ( works for crypto crash as well)
https://www.youtube.com/watch?v=U6KxyAZG8G4

Understadning stochastics & RSI
https://www.youtube.com/watch?v=C6YQUGDdioA

Technical analysis: Support and resistance on stock charts( works for crypto as well )
https://www.youtube.com/watch?v=NQETxEaEkwA

MACD basics
https://www.youtube.com/watch?v=TpehPTfqFmE

How to use Pitchfan
https://www.youtube.com/watch?v=DMPrmdX-KYQ

DataDash Trading tip Series
https://www.youtube.com/playlist?list=PLovfz5BWiPa34GzoacromtRO-hq1XQSnD

Trade like a casino for consistent profits by Adam Khoo
https://www.youtube.com/watch?v=bRCtBRsLPmk

Cryptocurrency Terminology Explained
https://www.youtube.com/watch?v=j4gJX7AwPpg

MY 2 best alt coin trading strategies
https://www.youtube.com/watch?v=zZ-KTx2ty18

Trading tip 7, How to use the order book
https://www.youtube.com/watch?v=-TnHY0VVPlM

How to use EtherDelta
https://www.youtube.com/watch?v=PzpeEuPMsL8

Mastering trend lines
https://www.youtube.com/watch?v=6uA_S097VHk





Articles
How to setup stop loss on bittrex
https://steemit.com/trading/@jaggedsoft/how-to-set-a-stop-loss-on-bittrex

MACD
https://www.tradingview.com/wiki/MACD_(Moving_Average_Convergence/Divergence)


Get started with training
https://www.babypips.com/learn/forex