Another question. Are you currently bullish or bearish on BITCOIN?
Final Results
19%
Bullish
81%
Bearish
[So here are the conclusions of the "Game"]
88% of people voted for SELL on the chart I posted earlier.
In the second survey, 81% answered that they are BEARISH on BITCOIN currently.
Ok, so far so good. The problem is that the chart I posted is simply the BITCOIN UPSIDE DOWN CHART.
So actually people who said they would SELL that chart would be BUYING bitcoin. Did you understand?
88% of people voted for SELL on the chart I posted earlier.
In the second survey, 81% answered that they are BEARISH on BITCOIN currently.
Ok, so far so good. The problem is that the chart I posted is simply the BITCOIN UPSIDE DOWN CHART.
So actually people who said they would SELL that chart would be BUYING bitcoin. Did you understand?
This was just a game so I can show you how often emotions end up directly affecting our decisions. In trading and investing, you always have to act by pushing emotions away, otherwise you're bound to fail.
Think about it.
Think about it.
XBTrade
🔔[@XBTRADE CALL]🔔 Capital exposure: 30% of your balance [total] Leverage: 10x [1] ENTRY POINT: $6544 [15% of your balance/10x leverage] [2] ENTRY POINT: $6354 [15% of your balance/10x leverage] STOP-LOSS: $6100 EXIT TARGET: $8520 [Risk:Reward 1/5,61] Projected…
[LONG RUNNING]
First bid filled at $6544.
First bid filled at $6544.
XBTrade
[LONG RUNNING] First bid filled at $6544.
Nice move from the entry, update soon. 🧞♂️
XBTrade
🔔[@XBTRADE CALL]🔔 Capital exposure: 30% of your balance [total] Leverage: 10x [1] ENTRY POINT: $6544 [15% of your balance/10x leverage] [2] ENTRY POINT: $6354 [15% of your balance/10x leverage] STOP-LOSS: $6100 EXIT TARGET: $8520 [Risk:Reward 1/5,61] Projected…
Ok. Lets make some changes:
1 - Cancel the bid order at $6354;
2 - Move the stop-loss from $6100 to $6770;
Locking profits already. I'll think about adding more contracts to this position if I see any interesting opportunities.
1 - Cancel the bid order at $6354;
2 - Move the stop-loss from $6100 to $6770;
Locking profits already. I'll think about adding more contracts to this position if I see any interesting opportunities.
How to be profitable by trading BITCOIN in 10 steps
1 - Do not get in unnecessary trades;
2 - Do not trade based on timeframes less than 1h;
3 - Do not trade based on news;
4 - Look only at the relevant exchanges chart;
5 - Do not look at the chart "every minute";
6 - Be patient, just get in easy trades;
7 - Have good risk management;
8 - Never use a stop-loss less than 1%;
9 - Follow @XBTrade :)
10 - Be patient once again; [Meditate if you want]
1 - Do not get in unnecessary trades;
2 - Do not trade based on timeframes less than 1h;
3 - Do not trade based on news;
4 - Look only at the relevant exchanges chart;
5 - Do not look at the chart "every minute";
6 - Be patient, just get in easy trades;
7 - Have good risk management;
8 - Never use a stop-loss less than 1%;
9 - Follow @XBTrade :)
10 - Be patient once again; [Meditate if you want]
XBTrade
[1D CHART XBTUSD] It is very clear to me that we are in a mid-term descending channel, started in ~$14k at the end of June. Usually in mid/long term channels the middle line usually exerts some price pressure. In the current scenario, no different, I marked…
TOC TOC.
Again in the channel's middle line.
Again in the channel's middle line.
XBTrade
Ok. Lets make some changes: 1 - Cancel the bid order at $6354; 2 - Move the stop-loss from $6100 to $6770; Locking profits already. I'll think about adding more contracts to this position if I see any interesting opportunities.
[New change]
Move the stop-loss from $6770 to $7027.
Locking atleast 11% in profits (In the whole balance) if the stop-loss is reached
Move the stop-loss from $6770 to $7027.
Locking atleast 11% in profits (In the whole balance) if the stop-loss is reached
I am always talking about profits in USD. I'm a trader and not a holder, so what really matters to me is my USD balance. I keep a portion of my portfolio at bitmex for use in leveraged trade and the rest remains in USD on other exchanges.
XBTrade
🔔[@XBTRADE CALL]🔔 Capital exposure: 30% of your balance [total] Leverage: 10x [1] ENTRY POINT: $6544 [15% of your balance/10x leverage] [2] ENTRY POINT: $6354 [15% of your balance/10x leverage] STOP-LOSS: $6100 EXIT TARGET: $8520 [Risk:Reward 1/5,61] Projected…
[Update]
We still holding our beautiful LONG open at $6544, now with a stopgain at $7027 which already guarantees us good profits. Still seeing potential for upside, it looks like we're consolidating above an important support in the $7000+ range.
We still holding our beautiful LONG open at $6544, now with a stopgain at $7027 which already guarantees us good profits. Still seeing potential for upside, it looks like we're consolidating above an important support in the $7000+ range.
XBTrade
TOC TOC. Again in the channel's middle line.
[XBTUSD 4H CHART]
An important moment, the candle broke up from consolidation as I expected. In this movement there was a large volume, the price was able to close above the middle line of the channel and is also above the MAs (20, 50 & 200). Nice point to the bulls, I see good upside potential for this week. We keep our target at $8520 and I will keep changing the stop-gain when needed to protect us.
An important moment, the candle broke up from consolidation as I expected. In this movement there was a large volume, the price was able to close above the middle line of the channel and is also above the MAs (20, 50 & 200). Nice point to the bulls, I see good upside potential for this week. We keep our target at $8520 and I will keep changing the stop-gain when needed to protect us.
XBTrade
[XBTUSD 4H CHART] An important moment, the candle broke up from consolidation as I expected. In this movement there was a large volume, the price was able to close above the middle line of the channel and is also above the MAs (20, 50 & 200). Nice point to…
[XBTUSD 4H CHART]
In my opinion we will test the $7800 region soon (in yellow). How price will react in this range will be very important for continuing a short-term uptrend. I am quite optimistic and our $6544 entry was perfect!
In my opinion we will test the $7800 region soon (in yellow). How price will react in this range will be very important for continuing a short-term uptrend. I am quite optimistic and our $6544 entry was perfect!
XBTrade
[Update] Moved stopgain from $7027 to $7097.
[Update]
Moved stopgain from $7097 to $7164.
(Locking atleast 14% in profits in the whole balance)
Moved stopgain from $7097 to $7164.
(Locking atleast 14% in profits in the whole balance)
XBTrade
Another question. Are you currently bullish or bearish on BITCOIN?
This survey was conducted when the price of Bitcoin was close to $6500, 8 out of 10 people said they were feeling BEARISH. It is for this kind of feeling that according to statistics 90% of traders are unsuccessful.
Being a trader obviously requires skills in interpreting charts correctly, but what is really important is to have emotional control and to be psychologically strong to act in the opposite direction to most traders. Without a prepared mind, the charts will NEVER be well interpreted.
If you look at the Fear & Greed index statistics for example, you will come to the conclusion that in the moments of greatest euphoria, when almost everyone believes the market will take off in an incredible way, this is where we are about to reverse. The same goes for when the feeling is that the market will "crash".
The human mind is full of pieces that need to be assembled like a puzzle, you need to think in a different way from most people to get results also different from most people.
Have you ever thought that charts are formed by feelings/attitudes of the human mind? If statistics indicate that only 10% of traders succeed, you need to think differently from most.
Think about it.
Being a trader obviously requires skills in interpreting charts correctly, but what is really important is to have emotional control and to be psychologically strong to act in the opposite direction to most traders. Without a prepared mind, the charts will NEVER be well interpreted.
If you look at the Fear & Greed index statistics for example, you will come to the conclusion that in the moments of greatest euphoria, when almost everyone believes the market will take off in an incredible way, this is where we are about to reverse. The same goes for when the feeling is that the market will "crash".
The human mind is full of pieces that need to be assembled like a puzzle, you need to think in a different way from most people to get results also different from most people.
Have you ever thought that charts are formed by feelings/attitudes of the human mind? If statistics indicate that only 10% of traders succeed, you need to think differently from most.
Think about it.
XBTrade
[XBTUSD 4H CHART] In my opinion we will test the $7800 region soon (in yellow). How price will react in this range will be very important for continuing a short-term uptrend. I am quite optimistic and our $6544 entry was perfect!
Well, the bulls didn't have the strength to push the price up to 7800, there was a strong rejection at 7700 pushing the price back to intermediary levels. Our stopgain is very well positioned and for now we have no changes in the trading strategy.