josemar

Leo can afford to not invest in Bitcoin. Can you? Not doomed. just poorer.

By the same logic, people that invested in Google in the 2000's or Tesla in 2019-2020 did nothing to create their value. Still, the stock value increased many times fold. In the same vein, Bitcoin offers such a different technology to what has come before, that 'early adopters' will be rewarded. And I'm not talking about the buyers in 2012-2016, many have already sold their bitcoin, or lost the keys to it. Everybody gets their bitcoin at the price they deserve. You can wait to buy at 120k, that is what you deserve . Still a good investment, since it'll probably be 1 mil in 10 years time. The people who invest in indices like S&P 500 or Nasdaq are the people that cannot identify companies that will outperform those indices over many years. That's cool, but returns from indices barely cover inflation. I think most crypto, with the exception of Bitcoin is a security, only Bitcoin is a commodity like gold, oil etc. Only Bitcoin passes the Howey test for not being a security. Being securities, Most crypto will have to file all kinds of disclosure documents with the SEC, which will cut some of their hype. There is still value in them, just maybe not what the market currently thinks.

That's what hodling bitcoin is for. Not to be crass, but to give you a concrete example, I "made" 110k USD since March 2023 doing just that. Then, there's trading, like anything that has price going up and down, it can be traded for gains, just like trading gold, stocks, indices, oil etc. Why is trading bitcoin gambling, but trading the other categories not gambling? If anything, due to the 4 year halving cycle, the bitcoin price can be more predictable than other things.

It's great that it works for you, but with this strategy you'd take 1 trade every 4 years? with the magic average on daily timeframe.

the 65 bucks is to make money shorting, not only longing, you should have a go

PS. I'm sure it works for you, and when we reach another major bottom I'll make sure to have a look at it

Note I don't use Moving averages, today is the first day I'm looking to see how they perform Is there a rule that you cannot use daily EMAs on lower timeframe charts?? I don't get why you're upset. Show me a timeframe on bitcoin where the magic average beats the 21 daily EMA for support in a trend. In this last uptrend from middle of October, you could have added to your position when intersecting the 21 dEMA wereas the magic line caught the initial bottom (slightly better than the 21 dEMA), but then doesn't intersect the price on the 1h chart But looking from the start of 2023, seems the magic average gives slightly confusing messages, presumably there's more rules to it than "long when price crosses up ?

Nah man, it wasn't the bottom. It kinda was a local bottom around 12 UTC (in red), what about the other crossings in blue? In contrast, see how the 21 daily EMA crosses the bottom a few times today:

@Dodo Isn't a 21 day EMA (red below) or the Bullmarket Support Band an earlier indication ? Seems your magic average sometimes works and sometimes doesn't, e.g. see Jun 21 cross, it's a bit late in the uptrend

Out of curiosity I added that moving average to the chart. Probably not doing it right, what is it supposed to indicate? Or SMA? Probably not doing it right, first time using pencilnecked MAs

How many trades did you get from your magic moving average? One a year? that's too few, I take 10-50 trades a week. Moar trades, moar money

I get real value for 65USD a month: - 3 live streams a day by 3 different traders, for London open, NY and Asia. They obviously have to be paid for their time. - TA already done for BTC and a few select altcoins. - I like supporting this community, even though 65 a month is very low. I give more a month to 3 charities, do I expect value from those donations? Nope. Could I do the TA myself in 1hr every day? Sure. I prefer to have it done for me, and 2 USD a day is extreeeemly cheap. Cryptobros? I dunno man, I only trade bitcoin, leverage doesn't matter, I explained why I use leverage. Sounds just like normal trading to me, when I use sound risk management. Not everybody is cut out for scalp trading, I get it. Edit: Jayson doesn't trade on Bybit, he uses the chart for different reasons.

I guess you can't teach an old dog new tricks Peace out

I only started trading around March this year, had no idea about it beforehand. Since then, I quit my IT job of 23 years at end of September, and am "full time" trading. Full time, meaning I can make the same money as my old job trading 2 days a month. Jayson Casper is not Satto the Korean, watch at least 1 of his streams before making up your mind about him. It's his group, but there are 3 other excellent traders in the group, each with their own trading style, each making huge gains, you have lots to learn from each one and adjust their trading to your style: WP uses NO indicators, only Market Structure concepts. Bojan uses exocharts Jayson uses Market Cipher kpax (soon to return) uses Volume principles and Exocharts. And these are only the moderators, there are plenty of very knowledgeable users in the group. I get it, you found a trading strategy that works for you, and that's great, but your definitive statements about anything different are jarring. Edit: I understand your reticence when most trading groups are shit and charge huge money, Jayson charges only 65 USD a month, I make that in half a second.

What are you talking about? you don't use 50% of your account on one trade. If you think price action is down, and you take a short, and try to maximize profits from that one direction trade, you're missing on all the money you can make on retracements. Using risk management, I only risk 1% of my account per trade. If I'm only short, yes I may make 1300% on my trade (i.e. 13% of my account), but I'm missing on the small 1-5% gains possible on retracements. How do you lose, if both trades are in profit ?? Only when compared to an ideal trade and entry where you predict the direction of the market over many days and weeks and months. Hint: this ideal trade doesn't exist. Are we leaving money on the table by only taking profits on 75% of the trade and leaving the rest of 25% ride? I guess... But all trades are in the green, means money coming in... In the real world, shlonging is a real psychological help, where you're not attached to where the price goes, since you're making money both ways at the same time. It doesn't work for everybody, all trades start as scalp trades, take half the trade out very quickly in profit, let the rest ride... huge leverage, yes... leverage does NOT matter, only position size. Where leverage helps is not by gambling your full account 100x, but: - not keeping big sums on exchanges, i.e. if I have lets say 100k account, only have ±2k on an exchange, with high leverage I have the same position size. - use the liquidation price as the stop loss, e.g. for a 50x trade, liquidation is about 1.5%, for 75x trade, liquidation is 1%. With technical analysis, we can predict the direction of price for at least a quick scalp in 80%+ of cases. That means that for 80% of trades, we are profitable very quickly, take half or 75% of the trade out after a 0.5-1% move, set stop loss to entry , and let it ride... that means trade in the green, money coming in. It is maybe a more stressful way to trade, you need to be on top of the price action, and not only predict that "Ah yes I think bitcoin will go up from 16k" Not sure what you mean, if degenning is 100x full account on an altcoin, I don't do that. only up to 75x on bitcoin, risking 1% of my account per trade.

Why would we ignore leverage? The trading group I'm a part of has such precise entries that I'm using 50x - 75x leverage. On the short from 31k my PnL was around 1300%. Look up "Jayson Casper" on youtube, he always shows active profitable trades, and sometimes goes through his live trade history, and most are profitable. Recently he was scalping the 5s chart of BTC using an indicator called Market Cipher (there are free versions available) Before making such definitive statements, do yourself a favour and learn how to trade, we call it "shlonging" when you're both long and short at the same time. Edit: screenshot from Jayson's most recent stream today, note the profits (on one exchange, he trades on many), and both longing and shorting at the same time:

Have you heard of shorting? Most I made in crypto in 1 trade was by shorting the July 31k top. Of course you can make money when price goes down, not only up.

Here you go, stream just finished

Trading, that's different. By the excitement of the OP I thought you hold it as an asset. I mostly trade bitcoin. If you're familiar with concepts of Market Structure, Wyckoff, supply/demand zones, the traders group I'm a part of has this short section on gold trading about 21 minutes in. Video is Live now so I can't seem to timestamp the specific section, I'll update once the stream is over if I can timestamp it.

When accounting for money supply (i.e. inflation), gold is down 45% in the last 12 years. Do yourself a favour and buy digital gold, bitcoin.

Possibly a sell the news event

Don't marry an altcoin, ADA is still down against BTC 84% since the ATH:

Since this post, MSTR up 19%, RIOT up 45% etc.

Milowda na animals!!! To only perform activities helping survival. I'm here to read enlightening posts, and to see Someone here's progression in the gaylands. But mostly for the enlightening posts. I ignore lots of the things that don't interest me, so I'm not really wasting time.

Trading 101, risk management It's not even difficult, it's more fun than my 9 to 5 job, new information, new things to learn...