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Messages - jeraldskie11

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421
Both of them are working base on my back test but most of the time when the price hit 0.786 after a break of structure the price won't bounce drastically and break the weak high/low. Usually it only bounces a little and then it will go for reversal. I see 0.618 level as a healthy price action because these area is considered as a golden zone, and when the price reach this level usually the price creates new high/low. But now, I use only Fib as confluence to my strategy, I didn't use it as my main because I found out that the win rate is so low if you solely use this strategy.

422
Cryptocurrency Trading / Re: Volatile Coins
« on: January 21, 2024, 06:16:17 PM »
Most of new traders love to trade coins having high volatility which will give them short profit and they are using these volatile coins for daily earning. This is not easy as it's need full knowledge of analysis and also support and resistence. It's not for everyone as it could result in quick loss.

Which volatile coins will you recommend for daily trading ? I think Sol, Cake and Avax is looking good token as they are currently volatile and safe tokens.
If the coin is volatile, the risk is high. Although Bitcoin is also volatile coin but it has the lowest volatility if we compare it to other altcoins, so the best coin to invest if you are looking for a safest investment in crypto I highly suggest to invest Bitcoin. We can potentially get huge profit from investing in a very volatile coins but most of them can't get back up when the price drops drastically, mostly it occur when we are in the bear market. So doing a deep research and analysis of a coin is a must before deciding.

423
Cryptocurrency Trading / Re: How do analytical drawings works
« on: January 21, 2024, 05:51:54 PM »
Okay have been trading for sometimes now, due to experiencing alot of chart patterns have been able to read some chart patterns. But I've been finding it difficult when it's comes to analytical drawings in trading I try watching some videos that might help me but still finding it unclear. I don't if you guys can recommend any resources that can help me learn more about analytical drawings. I bring it up because I know we have alot of skills and experience traders here.
I think what you mean is pattern trading. It is the most commonly use by most traders but still profitable up to this days if you add more confluence for more confirmation before you enter a trade. Some people who rely solely in the pattern trading probably lose more because of manipulations, they are here to take out your stop loss to make your money as a liquidity. It's difficult to have this by only watching yt videos because you will only learn half information.

424
Cryptocurrency discussions / Re: The impact of crypto on our lives
« on: January 21, 2024, 05:19:55 PM »
I see crypto as solution to get away from ratly race, it can change lives even the poorest people as long as you are hardworking it's very possible. For me, to know about crypto is an opportunity because not all people are willing to explore how it works. Unlike doing jobs outside in this space for full time without having a chances to make rich will keep you stay where you are. I know sometimes if we have an investment that are still running we can't avoid to feel scared when the price went down but we have to control our emotion since we know that this thing normally happen before the price move drastically to the upside.

425
Cryptocurrency Trading / Re: FUTURE - WHAT IS IT? IS NOT PLAYING A WIN?
« on: January 21, 2024, 10:34:30 AM »
I've been trading for many years and I still learned new things in this post. I found this post helpful to those beginners who want learn trading because this is a basic knowledge which really needs to avoid future problems in the future. Example you are going to execute your first trade but you didn't change to isolated margin mode because you didn't know what it really is and you forgot to put a stop-loss, it will risk your total funds.

426
I started rehearsing my trading skills and strategy again on my favorite derivatives trading exchange, which is Digifinex. Although I am not yet trading with real money, I am still on the demo account, which usually offers a demo balance of $1000. Honestly, since I started practicing again, I have blown the demo balance more than three times now. First, when I started, I increased the balance from $1000 to $1500+ just in a day. I should have just rested for that day after making such a profit, but I got greedy (that's what it is) and decided to keep trading if I could increase the balance up to $2k, but my last trade blew the account.

It happened again the second time and again the third time, and I just kept blowing those accounts after making enough profit that I should have just taken a break every day and continued the next day.

You guys might be thinking that this is just a demo, so why worry? And my reply is that there is a need to worry because you can actually use the demo account to learn how to master and control your emotions and how to listen to your inner voice when it speaks to you to stop. You will also learn how not to get greedy, but you can achieve those characters if you actually handle your demo balance as if it's already your main balance (your real money).

Conclusion: I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.
We have to consider how many trades did you take to profit 300%, this is the way to determine if you just made it with luck or skill. If you only trade with just 3 to 5 trades and made 300% you're probably relying on luck but if you have taken 10 or more trades to get 300% this means that your trading plan is working.

The way you trade on a demo account vs a live account is different because there is no emotion involved in demo account that's why you can execute well in the market unlike with live account which really affects your execution.

427
I don't care about ETF Bitcoin approval for investing in bitcoin, bring positive or negative effect not much problem for me keep accumulate investing bitcoin. Probably ETF Bitcoin approval make us get happy awhile and without longer time bitcoin get correction and dump to lower price remaining few days after ETF bitcoin approval.
I have optimistic with bitcoin indeed ETF not approval can't make bitcoin price drop drastically, have many time bad and good news can't make bitcoin stuck in lower price just get moment awhile before bitcoin raising up to higher price again in few weeks later.
As what I have noticed in the market, the price drops drastically when it reach the supply, especially in the higher time frame or weekly time frame because this means that the supply in that area is too strong. When there is no news relying on or good news, we expect for the price will drop in a couple hours or days but we have witnessed the price was still in the supply consolidating because it's being support by a good news which is approval of Bitcoin ETF. I realized that they all consider the chart.

428
Bitcoin Forum / Do we really need to rely our investment in Bitcoin ETF?
« on: January 21, 2024, 06:40:20 AM »
ETF approval has a positive impact to it's price. When the SEC decided to approved ETF, investors, whales, and institutions will accumulate Bitcoin right after the price is approved which result to a significant upside move of the price.

ETF can't make the price increase to 5% by itself.

But do we really need to rely our investment in Bitcoin ETF?

No, because Bitcoin ETF is just like us who are here in crypto to make money so they will do their best to get advantages in the market. When you buy because they buy, they can get more profit% than you, so if they are going to sell it in a short time you probably lose. This is what really need to be aware of.

429
Bitcoin Forum / Re: BTC supply crisis will appear soon
« on: January 21, 2024, 06:12:37 AM »
I don't think so if a decline in Bitcoin holdings on the exchange influences the price.
There will always be buyers and sellers in the market, and there will be no lack of them.
Even while the ETF's acceptance has a significant impact on Bitcoin's price, we must remember that it does not hold half of the supply. Meaning, ETF approval is being utilized as a go signal for someone to invest in Bitcoin, most likely whales and other institutions.

430
Philippines (Tagalog) / Re: METAMASK - TUMATANGGAP NA NG GCASH
« on: January 20, 2024, 06:05:08 PM »
Nagtry din ako sa gcash, mas convenient gamitin though may kataasan ung fee. Pero mas ok n to kesa sa dating way na maraming steps pa para makabili. Need ko kasi ng pang gas para malipat ung mga crypto ko para mabenta. Grabe ung fee kakaiyak.
Mas maganda talaga yung ganito kasi hindi masyadong hassle para sa mga baguhan, isang step nalang gagawin mo para makapagtransfer ng tokens sa metamask di katulad ng mag cashin ka pa sa exchange bago ilipat sa personal wallet medyo mas risky kasi maraming step. So prefer talaga yung ganito.

Pero kapag hindi mo naman kaya magcash-in ng $30 ay magcash-in ka nalang sa pamamagitan ng p2p sa exchange bago ilipat sa metamask, sigurado maliit lang minimum withdrawal at fee lalong-lalo na smart chain gamit mo na network.

431
A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.
Yes, because newbies nowadays prefer to start trading even without enough knowledge about it. Experienced traders highly recommend that beginners should not rush into trading. It's important to gain knowledge and experience to make a profit. Some suggest trying demo trading which is similar to real trading, but you don't have to use your own money.
Agree with you in some point. We can get knowledge about trading even if we are just newbies and we have to be newbie to become expert. Having knowledge in trading is not enough, we have to apply it and do actual trades in market to determine our mistakes since we employ emotions in live trading. In your first couple of trades in live account, margin only with a small funds so that it won't hurt you that much if you lose until you become ready for the real trades.

432
Bitcoin Forum / Re: Disadvantages of Bitcoin ETF
« on: January 20, 2024, 05:06:53 PM »
Management Fees: ETFs typically charge annual management fees, reducing the profits for those holding shares in a Bitcoin ETF compared to direct trading on cryptocurrency exchanges.
I don't see a disadvantage of having a management fee because you will only pay it yearly. It just only a little amount of funds compare to your potential annual profit.

Quote
Trading Hours: Bitcoin ETFs are only available on the stock market and depend on stock market opening/closing hours. This limits the flexibility of trading for investors compared to the cryptocurrency market.
In my opinion, there is nothing to worry since it is normal to the stocks to have a closing hours especially if you trade stocks before.

Quote
ETF Price Discrepancy: The price of a Bitcoin ETF may deviate from the actual value of Bitcoin due to the imbalance between supply and demand, potentially leading to inaccurate buying/selling prices.
I think it's normal to have a little bit of differences as long as the price is not glitching.


433
Crypto Exchanges / Re: Status of CEX in your country
« on: January 20, 2024, 04:43:04 PM »
A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.

Right now, Binance was given 3 months from November 29 to comply with the regulations of the Philippines.
This news was not only for Binance but the other centralized exchanges that are unregistered will also be banned.

We have a local wallet exchange that we can use (e.g. coinsph, gcash, pdax), however, Filipino crypto users find it more convenient to use Binance P2P transactions.

How about in your country, is it legal or illegal to use crypto?
How does the government make its move against CEX?
I'm also aware of this since I'm also your fellow Filipino but I'm still have some funds in my Binance nowadays. I don't feel any worry since there is no announcement yet or maybe this kind of stuff is not new to me. Usually, they just use it manipulate us to make people in the affected Country to withdraw their funds or get scared. However, it's always best to be defensive of our funds because we can't go back time.

434
Except for some new traders, most experienced traders do not relay of paid subscription for any price prediction groups because a lot of those groups are just purely scam and nothing else. Some could be real but only very few but despite that few are real, you can not still be accurate of price prediction all the time because the price of cryptocurrency is usually very dynamic.

As a trader, my best trading strategy in alt coin investment is to buy on a low price and sell high.  I trade more of the coins that are only listed of tier one cex and I prefer to buy coins with very low price (e.g: $0.0001 or $0.05) so that I can actually buy a huge number of the coin and if the price can just move from $0.05 to $0.15 it can give a tangible profit.  Also, I like to trade mostly on newly listed coins. Lastly, if a coin is listed with just a small trading volum, I will dive in because I know that as the volume keeps growing, it means more investors are pumping in funds and it will surely chase the price to go up, but if it's listed with a huge trading volume, there are chances that the volume can be dropping gradually so as the price.
Traders won't recommend paid subscription because they realized that the key to become profitable trader is not solely in the strategy.

They learned that we only need one strategy and master it because there is no strategy that have 100% win rate. So if you keep joining paid mentorship program, you're just wasting your money and time because when you apply it in your trade you feel like it's not working, you just didn't realize that the real problem is you, our mindset.

435
A lot of traders won't recommend trading if you're a newbie because the risk is so high. Maybe they can say that because they experienced it.

I see a lot of posts replies that discourage trading.

I just want to clarify that all profitable traders start from newbie and I believe that they also experience loses.

My only advice for newbie traders is back test your strategy very well and always follow your trading plan. Avoid the market if you can't see any setup that suit your criteria. Be a disciplined person because this is what you really need if you feel like your emotion is trying to control you.

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