Genesis of Trading (Basics of Technical Analysis)

[Yanizie]

There are many ways to earn cryptocurrency and one of them is by trading. But trading on cryptos are more volatile than foreign exchanges and Stock trading. Traders should not rely much on Technical Analysis only but should also on fundamental analysis. Traders must focus on risk management and trading setups that are fit to their appetite. The question here is how to begin? How to start?

​

BEFORE STARTING TRADING JOURNEY​

1. Create an account on a Cryptocurrency exchanger:​

There are many cryptocurrency exchangers on the web that can use for trading and investments. Binance is one of most reliable exchanger where you can invest passively and trade from spot, margin, and futures.

2. Verify using valid I.D.​

Verifying of an account is necessary for anti-fraud and scam. It is better for the created account to verify to get more benefits like airdrops. The exchangers that don't have ID verification or KYC- Know Your Costumer- on their web homepage do have protocol for Web 3 wallets like Metamask, Trust Walletconnect, or TronLink.

3. Deposit using P2P on Binance.​

After full verification, funding is necessary for a trader to profit. P2P or Peer-to-Peer transactions for funding exchanger wallets are the most efficient because of the lesser fees.

4. Deposit using Crypto Faucets or Airdrops.​

A trader can fund an exchanger wallet without depositing any amount from an e-wallet or bank account. He can claim to crypto faucets or airdrops to get extra capital for the exchanger wallet. Claim free crypto every 24hours in Pipeflare.

5. Start Trading.​

Find a good indication of price action to position a trade. A trader can trade on Spot or Margin trading. Good risk management is a good discipline for trading. Knowing and learning different technical indicators are the best way to profit and grow.

Knowing the basics of Trading​

1. The Candlestick​

The red and green bar represents the price movement of the pair. The red bar represents the Seller's side and the Green bar is for the buyer's side. They differ in open/low price where green bar's open is on bottom of the bar while close is on top - opposite of the red bar where close is at the bottom and open at the top. The green and red bars are the same on High and Low prices. The candlesticks indicate the possible next move of the chosen pair.

2. Time frame​

Price changes in respect to time but have different time allocations. The 1-minute time frame is for scalper traders who position trades take profit in less than seconds or minutes. Scalpers trades many positions and take small profit on every trade.

3. Channels​

It is the line drawn from group of candlestick pattern to convey the possible next outcome. Some channels have parallel lines to indicate the support and resistance.

4. Support and Resistance​

The support and resistance is the area where traders know that price may bounce back and forth inside. Support is the level where lowest price is the point to push up. Resistance on the other hand is the level of possible highest price may reach and indicate pullback. Support and resistance are not 100% accurate on every trade.

Strategized your Trades​

1. Scalping​

Scalp trading trades on 1-minute chart to 15-minute chart where multiple positions are open and profit/loss small per trade. It is the fastest in Profit and Loss ratio. A trader can gain or lose a profit in less than a minute in scalp trading. Do risk management, put a stop-loss on every trade.

2. Day Trading​

It is a less stressful trading setup. Positions are open within a 4-hour chart to 1-day chart. Trader can open position and leave it for a day. Day trading is good for traders who are busy doing other things. These setups also have stop loss and tip point to gain good income.

3. Hodling​

Hodling or holding of crypto is the longest open position in trading setups. It takes a 4-day to 1-year chart and stop-loss is optional. Hodling concentrates on long term investments.

To Summarize:​

Before Starting Journey​

1. Create an account.
2. Verify.
3. Deposit.
4. Optionally use faucet/airdrop.
5. Start.

Basics of Trading​

• Candlestick
• Time Frame
• Channel
• Support & Resistance

Strategize​

• Scalp trading
• Day Trading
• Hodling

 

[Ralphjoe]

This is a great trading and investment information for even beginners like me, this has taught me about some basic knowledge of trading cryptocurrencies. I have been so clueless about trading cryptocurrencies but with this educative piece, I knew some basic knowledge of cryptocurrencies.

 

[chicnthin]

I was hoping for a fundamental analysis, I feel like this is more of a techinal but these informations are helpful. I'm familiar with the basics of trading as I have a class regarding investment, but the only difference is he taught us about stock trading.

 

[Yanizie]

I was hoping for a fundamental analysis, I feel like this is more of a techinal but these informations are helpful. I'm familiar with the basics of trading as I have a class regarding investment, but the only difference is he taught us about stock trading.

Yes. this is more on Technical analysis. Ill present more fundamental analysis in later times. I did also have class last year in shaw academy regarding trading and investment.

 

[chicnthin]

Yes. this is more on Technical analysis. Ill present more fundamental analysis in later times. I did also have class last year in shaw academy regarding trading and investment.

I'm very much looking forward to hear about the fundamental analysis that you're going to share in the future. Was your lesson about stocks or something else?

I hope to know more in crypto trading since I don't know much about it.

 

[Abbas ali]

was hoping for a fundamental analysis, I feel like this is more of a techinal but these informations are helpful. I'm familiar with the basics of trading as I have a class regarding investment, but the only difference is he taught us about stock trading.
I don't know much about it

 

[Dowenship]

Hmm.....

​

BEFORE STARTING TRADING JOURNEY​

1. Create an account on a Cryptocurrency exchanger:​

There are many cryptocurrency exchangers on the web that can use for trading and investments. Binance is one of most reliable exchanger where you can invest passively and trade from spot, margin, and futures.

2. Verify using valid I.D.​

Verifying of an account is necessary for anti-fraud and scam. It is better for the created account to verify to get more benefits like airdrops. The exchangers that don't have ID verification or KYC- Know Your Costumer- on their web homepage do have protocol for Web 3 wallets like Metamask, Trust Walletconnect, or TronLink.

3. Deposit using P2P on Binance.​

After full verification, funding is necessary for a trader to profit. P2P or Peer-to-Peer transactions for funding exchanger wallets are the most efficient because of the lesser fees.

4. Deposit using Crypto Faucets or Airdrops.​

A trader can fund an exchanger wallet without depositing any amount from an e-wallet or bank account. He can claim to crypto faucets or airdrops to get extra capital for the exchanger wallet. Claim free crypto every 24hours in Pipeflare.

5. Start Trading.​

Find a good indication of price action to position a trade. A trader can trade on Spot or Margin trading. Good risk management is a good discipline for trading. Knowing and learning different technical indicators are the best way to profit and grow.

Knowing the basics of Trading​

1. The Candlestick​

The red and green bar represents the price movement of the pair. The red bar represents the Seller's side and the Green bar is for the buyer's side. They differ in open/low price where green bar's open is on bottom of the bar while close is on top - opposite of the red bar where close is at the bottom and open at the top. The green and red bars are the same on High and Low prices. The candlesticks indicate the possible next move of the chosen pair.

2. Time frame​

Price changes in respect to time but have different time allocations. The 1-minute time frame is for scalper traders who position trades take profit in less than seconds or minutes. Scalpers trades many positions and take small profit on every trade.

3. Channels​

It is the line drawn from group of candlestick pattern to convey the possible next outcome. Some channels have parallel lines to indicate the support and resistance.

4. Support and Resistance​

The support and resistance is the area where traders know that price may bounce back and forth inside. Support is the level where lowest price is the point to push up. Resistance on the other hand is the level of possible highest price may reach and indicate pullback. Support and resistance are not 100% accurate on every trade.

Strategized your Trades​

1. Scalping​

2. Day Trading​

3. Hodling​

To Summarize:​

Before Starting Journey​

1. Create an account.
2. Verify.
3. Deposit.
4. Optionally use faucet/airdrop.
5. Start.

Basics of Trading​

• Candlestick
• Time Frame
• Channel
• Support & Resistance

Strategize​

• Scalp trading
• Day Trading
• Hodling

Hmm... you have just broken down the fundamentals of trade which is applicable to all currencies i believe so but thanks for the info.

Be Inspired, Be informed.

Be informed always because information is knowledge and it carries power to succeed.

 

[Kane]

If you want to trade but do not have knowledge, you can try trading bots. Crypto trading bots will help you trade crypto currencies easily without you having expert knowledge.

 

[Nurudeen]

Learning the fundamentals of technical analysis is a very important thing to do in both crypto currency exchange Business and stock trading. However a lot of people just go into the business without any prior knowledge

 

[Ononivami1]

I have not traded cryptocurrency yet because I am still at he learning stage. I will definitely start trading if I have acquired the relevant knowledge and the skills. This is what should come first before trading.

 

[tyrim88]

This is quite helpful and has lots of things beyoung the basic.i have been doing transactions on cryptocurency platforms like binance,but just transfer and sell including buying,i really like the scalping method and day strategy.

 

[Danny4cash]

You really provide the basic things any serious person need to know . I don't fancy forex trading. It just risky and it take his car and leave. I have a friend, who is earning big money online