Crypto trading

[BackInTheGame78]

May have to pick your brain on shorting markets. Never put the time in to learn how to responsibly do it.

Yeah for sure, I can walk you through it and show you some examples of where I shorted and what I was looking at as to why

 

[DEEZEDBRAH]

Short at resistance and long at support. Once I map the levels out, I watch the action closely around those areas. For shorting, if I see a bunch of wicks at that area over a few hour timespan on the 1HR charts and the price doesn't progress further, it's usually a safe bet to short it, once it moves into profit, I move the stops lower so I always end up making a profit even if it reverses and goes back up.

Same for longs...look for wicks that bounce back up and don't go farther down. Usually a safe bet to long it there as long as the RSI and MACD look good.

Starting to really become good at reading these charts and predicting the moves. Not always right but have been profitable on 32 of my last 35 trades. One of them lost 5 dollars and another one would have made me a few grand if I had been more patient. I got stopped out and never reopened it tho. Still burnt over that one.

Curious how it goes for you atm? I'm not going to stomach this shorting especially when this is common place. I'm sure you take profits. I just keep accumulating. I got dry powder on the side good to go. Sadly i foresee bigger drops.

 

[DEEZEDBRAH]

Same page, I think the west is cooked long term and if you have money you are going to be a target to get squeezed for taxes. Will keep you updated for sure. Tate had a pretty funny interaction on twitter with a fake tough guy recently, pretty hilarious how quickly he made the guy publicly capitulate. He is actually a pretty smart guy. He talks about it here, but follow both involved and saw it all happening on twitter

Tate dunked on Rian too. Not sure why people go in on Tate and get dlob dropped. I think his rhetoric is shtick but he's legit. He will scrap and the net is full of wannabe Internet tough guys.

https://www.reddit.com/r/gammasecretkings/comments/s7n3by
The screenshot in thread is lulz. This was a flawless victory - Fatality like mortal kombat. Tates troll game is next level 3D chess.

I think the play is not western or TEXAS. Sovereignty and individual freedom being the most important above even taxes. The super play is domain independence.

 

[BackInTheGame78]

Curious how it goes for you atm? I'm not going to stomach this shorting especially when this is common place. I'm sure you take profits. I just keep accumulating. I got dry powder on the side good to go. Sadly i foresee bigger drops.

It's going great. Shorting = you make money when it goes down.

 

[Zimbabwe]

Is this the perfect time to invest in crypto or should i wait for it to dip even further?

 

[BackInTheGame78]

Is this the perfect time to invest in crypto or should i wait for it to dip even further?

I'd only be looking to short every bounce until further notice.

 

[Fruitbat]

I'd only be looking to short every bounce until further notice.

How do you know when to short and when to go long?

You could end up in a world of **** trying to second guess that.

In fact, it’s almost impossible that you can time the market. There’s about 100 years worth of evidence to back that up!

You were predicting £100K BTC before the end of the year, which didn’t happen. I presume you changed your mind, shorted (without telling us) and now are reaping the rewards. Congratulations! Next time let us know when you’re calling bottom and top and we can all get our money on the right side of the trade .

 

[Fruitbat]

May have to pick your brain on shorting markets. Never put the time in to learn how to responsibly do it.

You can’t. It’s gambling.

Technical analysis is analysing the past to predict the future and there is extremely weak evidence to say that it’s possible to make money in the long term.

Prices of assets don’t move based on charts, they move based on fundamentals.

if you plot the price of ice cream on a graph you can establish ranges of values etc but it’s things like milk production and hot weather which affects the price, not what the chart is showing historically.

 

[Bigpapa]

You can’t. It’s gambling.

Technical analysis is analysing the past to predict the future and there is extremely weak evidence to say that it’s possible to make money in the long term.

Prices of assets don’t move based on charts, they move based on fundamentals.

if you plot the price of ice cream on a graph you can establish ranges of values etc but it’s things like milk production and hot weather which affects the price, not what the chart is showing historically.

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[BackInTheGame78]

You can’t. It’s gambling.

Technical analysis is analysing the past to predict the future and there is extremely weak evidence to say that it’s possible to make money in the long term.

Prices of assets don’t move based on charts, they move based on fundamentals.

if you plot the price of ice cream on a graph you can establish ranges of values etc but it’s things like milk production and hot weather which affects the price, not what the chart is showing historically.

Sure you can. It's not always going to be 100% accurate but over the course of many months of studying and doing TA, I have not seen many instances where it fails. Plus using trading indicators such as Traders Reality help quite a bit as do things like MACD and RSI when used in conjunction with what you see.

There are two main instances when I short.

1) When a token has risen 15+% on the day. The next day is almost always red. Almost without fail. Confirmation is MACD gets ready to cross over negative and RSI is overbought. Also, typically the token peaks late morning (EST) and then falls in the afternoon/evening hours in these scenarios.

2) When you see multiple vectors on the 1HR or higher timeframe that don't progress and it prints a reversal candlestick. Those almost never fail.

Nothing goes up forever, nor down forever. What goes up, must come down...even if it is only for a short time.

You can also trade long vice versa...when vectors don't progress down further on multiple candlesticks and the MACD is trending positive and RSI is oversold.

I don't trade Willy Nilly, I look for very specific scenarios that are very high probability trades.

Sometimes I get stopped out, but it doesn't happen very often. I'm willing to lose a few hundred dollars to make many thousands of dollars especially when I am right 70+% of the time.

I'm not interested in what "evidence" suggests. I do what I know works for me.

 

[DEEZEDBRAH]

It's going great. Shorting = you make money when it goes down.

I can't stomach it. I can watch the equity and crypto market crash np. I can't add in leverage on top of the other things I got going on from biz, lifestyle, training, and looking to relocate. I'm betting you watch it 24/7 and making moves.

 

[BackInTheGame78]

I can't stomach it. I can watch the equity and crypto market crash np. I can't add in leverage on top of the other things I got going on from biz, lifestyle, training, and looking to relocate. I'm betting you watch it 24/7 and making moves.

Yeah I have alerts set up and always have it on my desktop while I use my laptop to do work/other things. I take breaks during boring periods but when it looks like it's ready to make big moves I am very attentive to what's happening.

 

[DEEZEDBRAH]

Is this the perfect time to invest in crypto or should i wait for it to dip even further?

Timing the bottom or top is begging to get wrecked. DCA. I am expecting more pain. I hold. I accumulate. I don't trade or leverage. My goals aren't your goals. If you got dry powder on the side, it doesn't matter. You are good. Not investment advice.

Your bank gives nothing and takes. I am banking on what i buy appreciating MORE than my bank or under my matress. With that in mind, I already won.

Sol looks rug pulled. Everything does a this point BUT when VCs own absurd amounts is to be expected.

 

[DEEZEDBRAH]

Yeah I have alerts set up and always have it on my desktop while I use my laptop to do work/other things. I take breaks during boring periods but when it looks like it's ready to make big moves I am very attentive to what's happening.

You are American no? How do you expect things to play out in the coming week with the fed? I'm expecting more pain but got dry powder on the side.

 

[BackInTheGame78]

You are American no? How do you expect things to play out in the coming week with the fed? I'm expecting more pain but got dry powder on the side.

Not well. Market is on the verge of a crash so unless the news is amazing I expect it follows through. I expect the big moves to be made ahead of it tho, Monday and Tuesday.

 

[BackInTheGame78]

Timing the bottom or top is begging to get wrecked. DCA. I am expecting more pain. I hold. I accumulate. I don't trade or leverage. My goals aren't your goals. If you got dry powder on the side, it doesn't matter. You are good. Not investment advice.

Your bank gives nothing and takes. I am banking on what i buy appreciating MORE than my bank or under my matress. With that in mind, I already won.

Sol looks rug pulled. Everything does a this point BUT when VCs own absurd amounts is to be expected.

Can't time the exact top or bottom but you can get in the ballpark pretty easily following what I just posted. At least for local top/bottoms, which is all I need to make a lot of money trading perpetual future contracts. Just did it again with $ATOM at a local top. 3 straight long wicks on the 4HR chart that didn't progress price further = price drop incoming. Shorted at around $33.50, now around $31.50 and dropping. Currently about 4K in profit on my short and it should continue to go down.

Starting to believe that holding no real tokens and just trading contracts is the smarter play. Not tied to anything, can be fluid and play both sides of the market with no real worries.

 

[BackInTheGame78]

How do you know when to short and when to go long?

You could end up in a world of **** trying to second guess that.

In fact, it’s almost impossible that you can time the market. There’s about 100 years worth of evidence to back that up!

You were predicting £100K BTC before the end of the year, which didn’t happen. I presume you changed your mind, shorted (without telling us) and now are reaping the rewards. Congratulations! Next time let us know when you’re calling bottom and top and we can all get our money on the right side of the trade .

Read my response to your other post as to how I identify local tops/bottoms. Again...with future contracts I am more interested in identifying local tops/bottoms than macro top/bottoms, although that is helpful in knowing if you are in an uptrend/downtrend in the market.

I simply go with what the chart tells me is going to happen. I, along with many others were wrong. Won't be the first time or the last time. Got caught out there just like a lot of other people did. The world economy basically tanked...nothing is immune to that. Lesson learned. Still profitable and have switched focus to trading futures contracts versus actually owning crypto itself. Less worry, more fluidity.

 

[Fruitbat]

Read my response to your other post as to how I identify local tops/bottoms. Again...with future contracts I am more interested in identifying local tops/bottoms than macro top/bottoms, although that is helpful in knowing if you are in an uptrend/downtrend in the market.

I simply go with what the chart tells me is going to happen. I, along with many others were wrong. Won't be the first time or the last time. Got caught out there just like a lot of other people did. Lesson learned. Still profitable and have switched focus to trading futures contracts versus actually owning crypto itself. Less worry, more fluidity.

Vert

Sure you can. It's not always going to be 100% accurate but over the course of many months of studying and doing TA, I have not seen many instances where it fails. Plus using trading indicators such as Traders Reality help quite a bit as do things like MACD and RSI when used in conjunction with what you see.

There are two main instances when I short.

1) When a token has risen 15+% on the day. The next day is almost always red. Almost without fail. Confirmation is MACD gets ready to cross over negative and RSI is overbought. Also, typically the token peaks late morning (EST) and then falls in the afternoon/evening hours in these scenarios.

2) When you see multiple vectors on the 1HR or higher timeframe that don't progress and it prints a reversal candlestick. Those almost never fail.

Nothing goes up forever, nor down forever. What goes up, must come down...even if it is only for a short time.

You can also trade long vice versa...when vectors don't progress down further on multiple candlesticks and the MACD is trending positive and RSI is oversold.

I don't trade Willy Nilly, I look for very specific scenarios that are very high probability trades.

Sometimes I get stopped out, but it doesn't happen very often. I'm willing to lose a few hundred dollars to make many thousands of dollars especially when I am right 70+% of the time.

I'm not interested in what "evidence" suggests. I do what I know works for me.

MACD is the sensitivity of a bonds price to an interest rate rise. Not sure how that would work on a token.

 

[BackInTheGame78]

Vert


MACD is the sensitivity of a bonds price to an interest rate rise. Not sure how that would work on a token.

It is an indicator that is showing the EMA 26 versus the EMA 12. If it is above 0 and the lines cross positive it is bullish. If it is under 0 and the lines cross negative it is bearish. Under 0 and crossing positive is a weak bullish sign in a larger bearish downtrend, same as a negative cross above 0...weak bearish trend in a larger bullish uptrend.

Usually look for volume confirmation as well. True moves are usually marked by large volume spikes. These are easily identified as vector candles when using the Traders Reality indicator.

 

[Bingo-Player]

May have to pick your brain on shorting markets. Never put the time in to learn how to responsibly do it.

the only way to do it reponsibly is to set a stop loss on the upward movement but this usually means your losses will compound , shorting is risky in normal markets let alone crypto markets which are completely illogical

Market can stay irrational longer than most retail shooters can stay solvent