I shorted Bitcoin and made money thanks to this:
I took two trades on Bitcoin today. Both shorts.
1. An hour or so before ATH.. I got stopped out for 0.5% of my account size.
2. After ATH seeing a rejection. I made back +2.4% for a total of +1.9%.
I don't care about win rate. Yes I have a telegram group (albeit small).. So I do feel pressure..
I also get some DMs saying why am I ok with losing streaks..
Truth is, I'm not. But there's not much I can do about it because it is part of trading. I'm here to be profitable not to be right.
Read that again.
I can lose a trade or two or even three in a row. But I know when I win a couple I make them all back and some extra.
That's why it's key to stick to your plan and not get emotional.. Don't revenge trade. Don't overleverage.
Stick to your plan. Manage your risk.
And even if your winrate is low, your profit is high.
Don't take the round trip with Bitcoin & Crypto
Are you in massive profits? Are they realized or unrealized?
I still personally believe there's room to push much high in this bullrun.. BUT that doesn't mean that I haven't taken SOME profits.
Unrealized profits don't mean anything.. Not until they're realized and in your pocket.
The same people who enjoy the bullrun also usually suffer through the bear market.
Why? Because they didn't sell.
Their greed gets in the way. They keep wanting more. And it's only natural. We're humans after all.
But that's the differentiating factor.. You have to be in control.
Make sure to take profits along the way so you can reap the benefits as well.
Otherwise all you're doing is jumping around about paper money..
Some Bitcoin and Crypto Alpha I guarantee will help
Especially for those who are experiencing this bullrun for the first time 👑👑
1. If you're new, don't trade. Just hold your bags.
In a bull market, spot bags make FAR MORE than traders. There's also less risk associated with it.
You'll get consumed trying to catch every local top/bottom and you WILL get chopped out and liquidated. Leave it be.
2. Don't panic sell. Zoom out.
The HTF is usually bullish and there will be big flushes. Until there's HTF confirmation such as a structure shift, don't panic.
You're still early.
3. Don't FOMO
You will get plenty of chances to enter. By the time you're hearing about a coin that has pumped 200%, it's too late.
Don't FOMO. You're exposing yourself to unnecessary risk.
4. Recognize fake calls
Too many people on here are chasing clout so they're faking their wins.
They make 100 calls and boast the 1 win. My dog has a better probability in a bull market.
5. Stay patient and don't get greedy
Crypto spoils you. It makes you think 5-10x is not enough. Everyone wants 100x or nothing.
Don't fall into that trap. Take your profits along the way. Don't be left telling the story of how you COULD HAVE done it.
No one cares. All that matters it that you make it.
This is my Bitcoin Bread and Butter Trading Setup:
Make sure you bookmark this so you can come back to it later!
Also please share if you like it so it can help others looking for a setup as well!
When it comes to Bitcoin, I enjoy trading ranges far more than I enjoy trading trends..
So I'm going to show you my favorite range model 👇👇
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1. Context
Price does not pump/dump forever. There will always be some sideways movement.
Hence, after a trend, I look for price to pause at key S/R levels and move sideways. This often means I have to wait for a day or two to see some 4H and 1H candles simply forming a high and a low that it trades between.
Exhibit A:
Price displaces higher and then forms a clear swing high and swing low. I mark those out.
Note that my range highs/lows can and usually do change with more candles.. This gives a starting point.
2. Watch for a sweep
I wait for either the high or the low of the range to get swept. Many trade the breakout.. I don't.
The markets range pretty much 80% of the time so I look for fakeouts and a move back into the range.
So.. I look for the sweep and then I wait for price to reclaim/move back into the range.
3. Enter on a retest of the swept high/low
After price reclaims or breaks back into the range, I look for a retest of the high/low that it initially swept.
In the example below, the range low was swept and then reclaimed with a 4H candle closure back above. Price then retested it.
4. TP and SL Levels
I like placing my stops at the lows (or I manually stop myself out if we close below range low again). Vice versa if it's a sweep of the highs.
My TP levels tend to be the midpoint of the range and then the other end of the range. The example is below.
These trades present themselves very often and is by far my favorite.
Go backtest!
How I'm profiting this Bitcoin bullrun after my past experiences:
1. HODL (Spot Bags) > Trading
No matter how good a trader you are.. In a crypto bull run you want to protect your spot bag.
Spot holders make FAR more than a trader does in this market.
2. Waiting for crashes to enter..
No this does not mean I FOMO. I had unrealistic expectations of buy the dips. They never came and I missed out.
I don't buy anything that pushes higher but I don't wait for 50% crashes either.
3. I stay zoomed out
Perspective is key. People are quick to turn bearish and call the top. Given the volatility, I don't always blame them.
But zoom out and check the daily/weekly/monthly. And then ask yourself again if you really think the top is in or you're just feeling afraid.
4. Kick greed in the behind
I force myself to take profits every now and then. Bitcoin is fickle, I'm not going to lie.
If I'm up, I'm going to pay myself. But I'll also continue to hold a bag for the long run.
Full guide to my favorite tool when trading Bitcoin:
🔷 The Fixed Range Volume Profile🔷
This post is to show how it can help you get levels and what they mean 👇👇..
First bookmark this so you can come back to it at anytime.
Please also share this if you find it helpful so it can help others!
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1. The FRVP is NOT the same as the volume indicator
The volume indicator shows the volume in a given candle on a particular timeframe.
The FRVP gives us the volume at each price level in the range that it has been drawn. Take a look at the image below..
The bars on the left represent the trading volume at each price level.
Longer bars = more volume = more trading activity.
These longer ones are the one you want to have marked out as they give better reactions.
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2. The Value Area
In the figure above, notice how the top and the bottom is more transparent and not as prominent as the middle ones.
This middle area is known as the Value Area. This is a parameter that can be adjusted on tradingview but I use 68% as my value.
What this means is that this is the area of the range where 68% of the trading volume took place. Some people use 70%.
The top of the value area is the Value Area High (VAH).
The bottom of the value area is the Value Area Low (VAL).
These two levels act as really good support and resistance levels.
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3. The Point of Control (POC)
The red line in the middle is the POC. This is the single price point where the most trading volume took place.
It is usually a very sensitive area and can provide great bias for where price is likely to go.
Price above POC = strength and bias is bullish.
Price below POC = weakness and bias is bearish.
NOTE: All of these levels (VAH, VAL, POC) are ever changing as more trading volume comes in. Make sure to stay updated on how these levels change.
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4. My favorite way of trading these
Great, we have our levels. How do we use it?
1. Whenever price deviates above/below the value area and then re enters it, chances are it will rotate back to the POC and eventually to the other end.
I love watching for retests in these instances because they provide great trading setups.
2. These levels are especially helpful when price is in a range. With Bitcoin this is more than 75% of the time. the same principles apply to any timeframe.
3. You can use previous range levels when price revisits that price point. Below is an example of me using the March-April 2022 range as a reference for key levels last month.
Take a look at how well the VAH was respect when BTC pushed higher. The POC also provided great support at 39000 a couple of weeks ago.
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5. Additional notes
I want to re-emphasize that these levels are ever changing as a range continues so make sure to update your levels.
Additionally, these levels should be used in confluence with other levels. Confluence is what increases the probability of a level holding.
Finally, good TA is NEVER enough to substitute for risk management. Make sure your discipline and risk management is on point.
If it's bad, no amount of TA will make up for it.
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If you found this helpful, don't forget to bookmark it and repost it so it can help others!
Feel free to share your experiences with the tool below!
Stay safe!
A special message if you didn't buy Bitcoin at the bottom..
Here's what you should and shouldn't do..
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1. Don't short out of anger
This sounds stupid but it happens really often. People get bearish out of anger.
They miss out on buying and they can't accept they missed out so they find reasons to be bearish and short.
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2. Don't FOMO (there are SPOT exceptions)
People quickly FOMO and they even leverage long. Don't do that. Usually price is already at resistance by then.
You're likely going to get stopped out or liquidated. Stay patient. Follow the charts and TA.
Exception is when you're buying SPOT and the HTF is bullish.
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3. There will be more opportunities. Stay patient.
It may be difficult to fathom but you don't only get one chance. There will be plenty of moments where you can buy the dip.
But when that dip comes, don't be afraid and miss out again. Zoom out to keep perspective.
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4. Don't follow Crypto Twitter
Unfollow those who only show gains. They're likely lying and making you feel worse.
Don't take the advice of those telling you when to do something. Do your own research.
You want to make money right? Put in the effort.
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Stay safe.
The REAL get rick quick scheme in trading (Math proof):
Yes, you read that right. You can make money really quick with trading.
But not with one trade or even five trades. You can do it through compounding.
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Don't overrisk or overleverage in one trade.
Manage your risk with stop losses in every trade and be honest with your take profits, not greedy.
If you make a simple 5% a month on average, that's 79% per year compounded.
Not a lot yet? That's 320% in two years and over 1800% in 5 years.
It's an incredible amount compared to 99% of jobs out there.
But it takes a bit of time, though nowhere near as close as the other jobs take.
Stay true.. Stay disciplined. It will come. Sooner than you think.
Called this Bitcoin long earlier today. 4th trade this year, no losses yet on Bitcoin. Should I create a video reviewing for those who want to learn?
https://t.co/1z2tnxXN63
Here's how you GROW A PAIR and BUY Bitcoin dips in a bull market. 🧵🧵
No really, I'm sick of people complaining.
Everybody wants dips.
Then when the dip does come along, they get fearful.
When the time comes they lack the balls to execute. So I'm going to tell you how.
1. Zoom out
Most of the panic and fear people people experience when price dips is because they lack perspective.
Zoom the hell out and look at the big picture.
Here's the weekly chart. Structure is Bullish and we're consolidating. Took out range lows. That's it.
Thinking of switching it up and doing a Bitcoin update/analysis on video this weekend.
Get me to 50 likes and 25 reposts and I'll release one Sunday night!
Dear Kobe Bryant,
I am extremely lucky that I watched my first NBA game in January 22, 2006. (On TV)
I watched you score 81 points. 81 f**king points.
You made it look so easy. So easy that I thought that making the NBA myself wouldn't be hard. I know right?
So I started hooping. I turned the ball over. Got my shot blocked. I even got dunked on.
It was anything but easy.
But I didn't appreciate you.. I thought you were selfish and arrogant. And I just couldn't stand how good you were.
You never passed the ball.
You hit every clutch shot.
You'd make the craziest difficult shots.
For a while I even hated you because I was always a Celtic fan. Damn 2010 was difficult.. I remember it vividly. Walking into LAX with a Celtic hoodie right after the Lakers won the chip. I was laughed at lol
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I remember getting a text from a friend at 2.30am (Thailand time) exactly 4 years ago asking me if I heard the rumor and if I thought it was true.
I thought it was a hoax. But every couple of minutes a new report came in. Helicopter crash. No survivors.
I didn't sleep that night. You weren't my favorite player nor did I ever really cheer for you to win. It affected me deeply though.
Like your ad says.. I should hate you.
But you gave me 4ams.
You pushed me when no one else would.
You taught me to demand greatness.
Mamba Mentality. A relentless pursuit for greatness.
Nobody worked harder than you. Nobody was more SKILLED than you.
You were an inspiration. You showed me how far hard work can get you. No other player comes close to that level of intensity.
---------------------------------------------------
I guess I just want to say thank you.
I'm still on my journey constantly going through the ups and downs of life.
But I keep going. Like you said..
"Emotions come and go.. The important thing is to accept them all.. To embrace them all. And then you can choose to do what you want versus being controlled by emotion. And then it gives you the ability to look at it for what it is, which is just your imagination running its course."
We miss you all the time. A different beast.
Profitable trading means thinking like a casino
Casinos somehow always end up making money, don't they?
It doesn't even matter if someone wins big on a hand or hits jackpot. They still make money.. and A LOT of it.
We all know that they have the edge in every table game/slot/etc, even if it's just a slight edge.
What does this mean? Over the long run, their edge plays out and they make a profit. EVEN IF they have to pay someone a large sum on a day or five days in a row.
This is how it needs to be in trading.
Find an edge and that you know will play out over the long run.
Even if you lose a trade of five in a row, manage your risk and be disciplined about sticking to your edge.
Stay patient. It will play out.