Bitcoin Crypto

Bitcoin vs Forex
Bitcoin Update
BTC Bitcoin is one of the more steady, established cryptocurrencies out there. It is based on decentralised system which offers user anonymity. Bitcoin is one of the more easier cryptocurrencies to be able to short and long effectively as it is the gold of cryptocurrencies and is not as effected as most other cryptocurrencies. If anything BTCs price movements affect other cryptocurrencies. Ive grown a strong dislike with a lot of cryptocurrencies as of late mainly because of the heavy manipulation that “whales” can play on this market. Bitcoin isnt an exception and is still easily manipulated. It is very easy as an amateur investor to get crushed in this kind of market. You are to assume that this market is like the wild west and anything can happen. In a sense, this market is heavy reliant on indicator movements only because a lot of retail investors rely heavily on them so in a sense it produces a self fulfilling prophecy as a lot of amateur investors will follow these as a rules of “being oversold or being overbought” as an indicator to get in. Currenctly BTC is in a downtrend and can continue as low to 4.8-5.2k for now but in the extreme long term, it can come back up to 5 digits again. Its is very hard to judge cryptocurrencies long term and i advise to only trade btc short term if you are longing/shorting unless you plan to invest and hold it for the longer term. if you have trust in it There is a big difference in the crypto market compared to the forex market. The crypto market is heavily manipulated whereas the forex market is pretty much impossible to manipulate due to the sheer size of it. Both can be affected by fundamentals but cryptocurrencies are expected to DUMP on a lot of news whether good or bad. The lead up to good news is where cryptocurrencies like to PUMP.
The risk management also differs a lot in the two markets as you can expect minimum returns in cryptocurrencies of 10% as a norm to big massive returns of 300% all in one day, the opposite also holds true where losses can be a possibility too. Where as in forex markets, you will be looking at much more consistent returns/losses whilst risking only 1% of your account or whatever your daily % limit is. Overall there is a market for everyone, if you are looking for volatility cryptocurrencies offer this but as for now, myself personally, i prefer the forex market over this as there is much more regulations out there to protect yourself with compared to the cryptocurrency market.

18-06-2018

Summary of 18-06-2018 trading morning

All charts and info is shared in our trading room 

See below charts for your review;

Morning Trade done – Watchlist was given in the APM room ; http://bit.ly/APMRoom
26.2 pips charts incoming.

13265 entry, TP 13240 SL 13275
10 pips for 25 pips (though it pressed and gave me 26.2 pips)

 

 

FOREX TRADING FOR BEGINNERS

Forex Trading for Beginners  – Post Objective; (PART 1)

  1. Are you a forex beginner? (foreign exchange trading for beginners) what to do?
  2. How to trade consistency
  3. How to understand what you are doing wrong
  4. How to know if you are even doing anything right?

 

  1. Are you a forex beginner? (foreign exchange trading for beginners) what to do?

So you want to trade, so be it trading crypto / stocks / forex / index’s (indicies) / commodities or whatever financial instrument  it is.

The 3 most common mistakes I see and hear from everyone is that they spend so much time focusing on the wrong things – what I mean is that you first get into trading you want to learn about charts, what a doji is? What about what a graph is what a forex pair is? but what about learning the markets, how the markets react, learning about who can actually mentor you and help you become the person you want to be.

So if you are new or even just a few years into trading and still struggling – think to yourself are you spending time learning the right things, are you spending the right time working on the areas that are ruining your rates?

Whether you are a student mine or not you really need to think about these info.

The funny thing is all the basics and intermediate info is all online and free, its takes alot alot of time to be able to collate all that information and make it work. Thats the point of courses its peoples experiences filtering everything and putting it all into one. Just like university etc.

Right enough about that your not here for courses here to find out why your struggling.

Another factor is learning with others, try to utilise that situation that so many other people are in the same boat, you need to learn and grow with others but at the same time don’t think that everyone is right you really have to filter for yourself. During my learning days there was so many people with so many different bullshit ideas it really is a waste of time, so if you know yours works someone has proved it then be resilient and make it work.

DEMO VS REAL MONEY

My LAST part to this section is trading demo and real money, SOOOOOO many of you guys trade real money when your not even a professional trader / fund manager or whatever it really just baffles me.

Why?

Are you in a rush to loose money lol? I’d say 90% of you do this, I just don’t get it, I mean i get why you do it because you want to learn, you want to make money and you want to make it work.

However on the flip side if your loosing money shouldn’t you stop, if you cant make money with demo money what makes you think you can do it with real money?

If you can do it with Demo and not with real then you have a problem, why not use that money to invest in education or you might even be on that flip side. That one last step to be there.

TRADING FOR INCOME is really a post that would be worth reading if you are at this stage.

Most important thing in trading is Risk management <- read here free

Right I will post in the other stuff later on this week so stay up to date if you want to learn.

12 – 06 – 18

2. How to trade consistency?

3. How to understand what you are doing wrong?

4. How to know if you are even doing anything right?

 

TODAYS TRADE SUMMARY

 

Q/A 08-06-18 Forex Trading

Q/A 08/06/18

Q; What is AOA?

A:AOA is our way of saying Area of Attention, as it says its an area that requires attention for us, so be it support, resistance, session low or high, fib lines, 800AOA a majority of AOA’s just an area that could affect the price. Many many things can break a AOA.

Such as a area could have 3 AOA’s which would me you might wanna exit or refrain from entering. Basic fundamentals of trading, being aware.

Q:Steph-Today at 2:07 PM

@wannabechamp do you place all your trades on the 30 min chart?  Are you using the 30 min chart for all your analysis or do you look at higher timeframes as well?

A: Not always depends when, but majority of the time I trade 30 minutes at the moment. And of course I use different time frames, you cant see the whole story of the instrument with one chart. Well I cant anyway so I have a few, everyone has their own break down and I have mine. Generally find what works for you or use our template.

Q:Mitch-Today at 10:34 AM

I have a question. When the market does this, what happens? Like what causes it to go up so much that there’s no candle

A: Answer is simple just don’t trade go play golf, get on with your day and come back when it is ready for you to bank your money. Not everyday is a trading day biggest mistake a lot of people make.

If you have any questions join the discord channel above and DM me them.

Trade Summary – 05-06-18

05-06-2018

Dax pop 41 pips
GBPJPY 25 pips
DAX -15.5 pips (this was a over trade, but took it regardless due to set up)
EURAUD 25pips
Gold 46 pips / 4.6 points

Posted Live on APM Room, rest on telegram and discord

 

 

Q/A 04-05-18

Q/A from the discord group.

Took in 3 questions and answers below to join free

click here or bit.ly/fx43discord

bit.ly/fx43discord

Q:Mitch-Today at 7:59 PM What’re your fav pairs/indices? @wannabechamp

A: DAX GBPUSD and SNP are my favourite ones. Mainly because of the ATR and its paid me the most over my trading career haha :smiley:

 

Q: Chowie-Today at 8:32 PM Hi @wannabechamp I don’t understand your charts, is there a reference I can use to see what you are posting as there is no indication on them if you’re long or short or what the result of the trades were. I’m interested to watch the comments in this room as I am targeting 60p a day and trying to further hone my edge.

A: Right to learn more theres a course that teaches you A-Z learning not just about trading but the fundamentals of finance, market timing, zones, AOA, regions, the market, how it reacts, risk, management etc. http://bit.ly/apmcourse To know entry exit, its just which is first – Green arrow is buy Red arrow is sell So if Green is first then red after then its a buy and then sell – so Long ultimately. Vice versa Also 60pips a day is a ok target a fair bit but you shouldn’t really target like this, each day is different and each trade is different its not like a job you get paid £5k a month its like £1k here £5k here -500 here etc

 

Q: @Stu-UK Stu-UK-Today at 8:32 PM Take the Dax entry above, what are your thoughts re best timing for entry? Slightly more important re dax as it can move like greased lightening.(edited)

A: thats true stu, there isn’t you have to just be at your charts ready. If you have watched it and it was watchlist early, and you have waited for the set up you will get the price. You can’t time it as such, if it goes it goes leave it and move on otherwise your chasing profits.

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