My Crypto journey so far hasn’t given me positive results in my investments.
I didn’t start when I originally wanted to and eventually found the time to learn in December 2017 buying my first bunch of crypto coins in late December and early January.
Turns out it was a good time to sell and we’ve a long way to go yet to reach those prices again.
Netherless, I’m still bullish on Cryptocurrencies and especially the blockchain technology.
During the past few months I’ve attempted to grow my risk capital by trading cryptos on the way down. Selling and buying back on the pullbacks.
I’ve managed to pull off a few small trades here and there but nothing worth shouting about.
Now, as I watch the charts rise (still questionable if we’re once again bullish yet) I’m back in on cryptos.
Mainly:
I’m watching these charts rise again and prices pump. Especially NEO and ONT lately.
ONTBTC by TradingView, 4hr chart.
As I watch them I know that these pumps will eventually pull back as people sell and take profits.
In forex, I’d look at past price levels and see where major levels of support and resistance would be.
Here in crypto land, we don’t have that luxury (not much anyway) and will eventually be making new highs all the time.
So, what’s the best way to work out where and when to time pull backs?
I’ve seen many people predicting this using Elliot waves and Fibonacci levels and using indicators like the RSI, stochastics and MACD.
I suppose learning how to combine some of these is more likely to give me a better target to aim for in the charts. Plus cross referencing to BTC performance.
So I’m curious, how do you guys do it? What works for you and what doesn’t?
Really appreciate any help offered here!
I've had an interest in trading since 2009 after I attended a seminar on spreadbetting...
But I never really took it seriously and have been in and out of trading ever since, losing plenty of money along the way but gaining some valuable experiences which only now is falling into place.
2017 led to a chance online meeting with a former RAF pilot-turned-trader which ignited my trading interest again and this time I was armed with a better mindset and a better time structure in order to focus on learning this life valuable skill!
And what an interesting time to jump back on board the trading train! With cryptocurrencies gaining attention and the blockchain technology becoming more widely adopted, we have a unique opportunity to capitalise on the huge gains this market has yet to offer!
I'm still early on in my serious trading journey and still have a lot to implement and learn... but I hope to inspire others along the way! In order to survive and keep paying my bills, I still have a full time job which I invest 10% into my trading pot each month and allocate 10% towards continuous education and knowledge.
I am part of the Realistic Trader group run by that ex-RAF pilot and now one of the biggest voices on Crypto's, Siam Kidd. This offers me education as well as ongoing support to help me on my journey. If you'd like to be a part of this group too and learn how to safely buy and trade cryptocurrencies, come along and join us! - Disclaimer: This is an affiliate link but I'd only ever offer services that I actively use. Plus the affiliate fee would really help me to add to my trading pot.
You can follow my journey here on SteemIt (If you get any value from my posts then please UpVote it. As Tesco says"Every Little Helps") or come and visit my website at EXF Trading
