Rekkonda

Trader since 2018. Started with XBT on BitMEX.
Crypto, markets & trading psychology.

Cross-Border Payments (FEA)

[Rekkonda @Rekkonda]

I thought trading would make me rich in a few months. 8 years later, I'm still here.

I started trading in 2018.

I was 19, had around $500 to my name, and was convinced I was going to get rich from financial markets.

I had no idea how long this journey would actually take.

[Rekkonda @Rekkonda]

@trader1sz Bought today for 500$. Will add more 🤝

[Tom Dante @Trader_Dante]

To add: I’m not saying you can't lose in one market and then find a way to consistently win in another.

My point is the crowd always chases the current big thing, and the focus is always leverage and speed, both used irresponsibly.

Early in my career it seemed all about spot FX. I told people to look at futures, but the capital barrier put most off.

Then it was binary options, pushed by scammy influencers.

ESMA (then the FCA) banned them for retail and capped leverage.

So everyone moved to offshore brokers on MT4 at 500:1. Crypto perps at 100x ran alongside.

Then NQ became the thing. Prop firms "solved" the capital barrier to futures with simulated accounts, sold by the same influencers.

After countless blow-ups and firms not paying out, the industry is already moving on: 0DTE, perps, prediction markets.

New vehicle, same outcome.

The firms who innovate and build the vehicle win, the crowd that uses it mostly loses.

[Rekkonda @Rekkonda]

@tradingjip Just do it without a manipulation. Send it

[Rekkonda @Rekkonda]

@ChentoTrades GM mate! I’m also in shorts. Feels like we’ve got a good opportunity to chop up some of those late macro longs.

Would love to see a good rotation lower from here

[Rekkonda @Rekkonda]

GM!

Added another $ETH short at 2720 - the level @Trader_XO pointed out. I saw a good imbalance price there, so I clicked it almost with my eyes closed.

The overall bias remains unchanged. At the very least, I’m still looking for a test of the Feb highs on BTC

[Rekkonda @Rekkonda]

@saitama_98 @Trader_XO want to believe 😀🤞

[Rekkonda @Rekkonda]

@Trader_XO Also got it on YO

[Rekkonda @Rekkonda]

@CryptoMillionYT Have the same view, shorted on 124,7.

The first target was Monday low , where closed a little. But I want to keep it in swing with a similar TP

Loaded? 🤞

[Rekkonda @Rekkonda]

@Wealthmanager But what if turn on Higher timeframe?

[Rekkonda @Rekkonda]

From a Wyckoff perspective, price is simply moving from one area of supply and demand to another

[Rekkonda @Rekkonda]

Anyone else seeing Wyckoff distribution on $GRASS?

[Rekkonda @Rekkonda]

@ManlinessNorms Probably need something for cardio, I have this toy for example. Good one 👌🏽

[Rekkonda @Rekkonda]

$XMR

This is what an efficient move looks like to me.

The market doesn’t have to “go for” liquidity. Price moves from one area of liquidity to another, and liquidity being taken is simply a natural consequence of that process.

The question is where price is likely rotate next

[Rekkonda @Rekkonda]

GM!

Do you know anything about efficient price movement?

Or is this something you’ve never really paid attention to?

[Rekkonda @Rekkonda]

@KillaXBT I actually think a rotation lower from here would be ideal.

With price ranging above the previous highs, I’d like to see that liquidity get taken and price rotate back down into the range. That would make for a much more interesting setup from a risk perspective

[Rekkonda @Rekkonda]

@0xSweep Not sure about chasing the breakout here.

Price is already sitting at local resistance, so from a risk perspective, expecting continuation at this level doesn’t make much sense to me

[Rekkonda @Rekkonda]

@DominicJamesFx I’m actually leaning short here. I’d be more interested in a sweep of the highs and a move back inside the range than a clean continuation higher

[Rekkonda @Rekkonda]

One of the hardest skills in trading is learning that you don't have to participate in every move.

There will always be another setup, another opportunity, or a day.

The ability sit on your hands when there's nothing worth trading is just as important as knowing when to execute

[Rekkonda @Rekkonda]

@chroe_trades I saw the same idea from XO - he used the good old 3-drive pattern and managed to catch the exact top.

Congrats, great trade!🔥🔥

[Rekkonda @Rekkonda]

I’m not buying the “Uptober” narrative.

That kind of seasonality stopped being relevant a long time ago.

At this point, people mostly use it to confirm their bias and convince themselves that the same cycle will repeat again.

But id doesn`t work like that.

[CoinGlass @coinglass_com]

Uptober starts in two days!!

[Rekkonda @Rekkonda]

@SailorManCrypto There are many Market Profile indicators out there. Could you share yours?