Hello everyone,
I have been a user of steemit for a couple of years. A Steemit lover and avid Trader.
Why I am creating another steemit account
As a trader, I am disgusted for years, with the suppomans of the world. People selling useless courses and giving signals to be able to dump their shitcoins. Misleading people, never show a position but according to themselves make money on everysingle candlestick, deny any past mistakes, etc.
When I got into a discussion with the moderator of one of the biggest facebook trading groups, where he was advocating a very poor trading strategy, I wanted to prove himself wrong by calling one of their post where I commented back at the peak of bitcoin. The post and my comment, where I was calling them out for being so bullish, were gone. Then I decided to search for another post I remembered that would prove the mod lying and guess again...
A group that sells an expensive trading course, monthly payments for signals and advocates investing during blue-sky break-outs of overextended assets!
I decided to post and prove my trading, but, I obviously don't want to share my main account status, even if I am anonymous, so I recovered an old Bitmex account and transferred around 200€ (0.02547375 BTC).
Introduction
I will mostly be posting my trading activity, fundamental changes in crypto/top cryptos and news interpretation.
This blog is created to help steer newer players and, hopefully, help those that want to trade become traders and those that want to invest not make the typical mistakes.
So why not start immediately?¿
- If a "trader" is talking about the fundamentals of low cap coins to support a trade, run away;
- If a "trader" is recommending a long because it is dipping, run away;
- If a "trader" is talking about ICOs, block him and run away;
- If a "trader" is making claims to where the price is reversing at, run away;
- If a "trader" refers to the RSI or Stoch as too oversold/overbought, run away;
- If a "trader" bases a trade solely on a chart pattern (my favorite meme: The head and shoulders pattern), run away;
- If a "trader" bases his trading on simple moving averages and crosses on these, stay away, he is a low ROI trader at best;
- If a "trader" talks about fractals just plainly shoot them, they mostly don't work and appear everywhere;
- If a "trader" has the basis of his trading on Elliot Wave Theory, stay away. Trading is an art full of nuances and EWT is the motherload of nuances, only really revealing in retrospect;
- Just because it is on Investopedia doesn't mean it is true;
- Trading groups are cool. Signal groups are mostly crap;
Warning/Disclaimer
I am not a professional trader. I am a trader that has been studying the trait and I can assure you trading courses are bullshit. In 2 years I have only found 1 trading course that is worth the money, the basic part of it costs 2000$ and some more Gs for everything.
I am not here to be always right and to make money shot calls to where the price is going to reverse.
The leverage I will use to boost my account is atrocious, do not emulate it. Anything above 3x is very dangerous and unwise.
I do my trading over 3 accounts: 1 Binance account and 2 Bitmex accounts to trade longterm and the other to scalp.
My account
I needed an entry for my leveraged position so I entered after the test of the 4h 21 EMA
we had a cross on the Stoch, Stoch RSI and a beautiful candlestick formation.
I took a long of around 15x leverage, the BTC I had available in the account at the time, 0.025BTC once we confirmed.
stop loss just under the lower wick of the previous candle.
The target was the top of the channel that had confluence with my strong horizontals at 9800$ so I was able to continue the trade with a less retarded margin.
The plan was to reopen after the 9600-9900$ control zone was cleared or to short (small short since it is opposite to the macro trend).
the targets where 10.750$, 11.300$ and 11.500$. got stop loss while at work at 10.500$ and was looking for an entry and got one while drafting my introduction post <3:
Bitcoin is at a too dangerous spot for me to be able to trade retarded margins. Even though previous high timeframe closes support continuation (more on that on a future post) we are at a gray zone until we clear 12k.
The 4h timeframe paints a continuation pattern (bullish triangle or bullish flag) and we had a bullish cross in Stoch and Stoch RSI while the RSI remains in the bullish control zone. we are the main point of control at 10.800$ and above all moving averages.
Present position
If we open and close a 2h candle under the White Horizontal I will reduce my position and leave a stop loss for that effect.
This post is pretty crude but I wanted to start trading on this account the earliest possible.
Please, ask me anything.
