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You are watching a very unique Bitcoin technical analysis.
It use Fibonacci ratios + support/resistance to find the best zones to enter and exit the market.
Here’s what to know when looking at the charts:
– Green and red rectangles are BUY and SELL area. These are the areas where the momentum has shifted enough to give us upside/downside potential great enough to consider buying or selling Bitcoin.
– Yellow circles are what I call “Critizal zones”. These areas are perfect for day traders because the odds of seeing a big price move from there is great. Getting into a trade in these zones with a low risk and high reward ratio is a good idea.
The software I use is Metatrader 4 (MT4)
The pricing feed is made by averaging prices at all the most popular crypto markets.
My name is Rick and I live in Mont-Tremblant, Canada
You can contact me on my website http://livebitcointrading.com
Tips for beginning traders:
– Trading is hard. 90% of traders never manage to be consistantly profitable.
– Greed is your enemy.
– A good trader is a good risk manager.
– Use Stop Loss and dont move them in the middle of a trade.
– The more leverage you use, the more certain you will fail.
– If you cant sleep at night, your positions are too big.
– You need to manage your emotions. Try meditation.
– You dont need to have positions open at all time.
– An average of 1% profit per week compounded will make you filthy rich.
– A good strategy is not the most important part of your success. Discipline is.
– Repeat this mantra: “I am a very good trader”
PS: Please dont use this mantra: “I am the best trader in the world!”, this one is mine.
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