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.
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.
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.
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.
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
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That's why you don't trade crypto on those type of exchanges.
They are not a reliable medium for trading, lets just remember when they prevented traders to operate only cause the kids from wsb decided to long game stop and amc with the purpose of squeezing the shorts from certain banks.
It's a little different in crypto, your collateral gets liquidated when you get too far out of range, unless you put up more collateral your position gets closed out. The higher the leverage the less room you have for percentage moves.
That's not what MACD stands for. It's Moving Average Convergence/Divergence
I only have a loose understanding of it, never actually traded with leverage or shorted.
It's not really that hard, you'd probably pick it up after 2 or 3 trades....most important thing is setting a stop loss
So say at some point I though we were going to be in a long term downtrend. Would it make sense to open a short and leave it open, with no or minimal leverage for an extended period, say 6months? Or would the funding rate be too costly and eat up the returns
Well...you could do that, but it might make more sense to close it on upticks and then reopen it on small bounces
It's why I think DCAing is the play. I've been watching on the sidelines. No clue what the play is. Definitely not a 2022 I intended BUT dry powder is on the side ready. Let's go!
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Just read my free ebook 22 Rules for Massive Success With Women and do the opposite of what I recommend.
This will quickly drive all women away from you.
And you will be able to relax and to live your life in peace and quiet.
Sol is getting raped and eth is Takinga pounding buy that sweet bounce is on with 2.0. Seems like btc is the safest play especially if not moving out short term.
Honestly starting to feel like just trading contracts is the move. No worries about wallets getting hacked, crypto getting stolen, etc...
Coinbase Pro, and Kucoin are the two I mainly use. MEXC and Gemini aren't bad either.
It's kind of scary. Even crypto.com got hacked and finally admitted it. I like the idea of being my own financial custodian. The future is dangerous with super computers and quantum computing.
You got the right idea. I have seen the majority of people have the most success with this strategy, very few have the skill and emotional discipline to beat it. Key being to keep it on when it feels like its going to zero.
