Blockchain Technology and cryptocurrency trading fundamentals | Brandon Moore | Skillshare

Blockchain Technology and cryptocurrency trading fundamentals

Brandon Moore, Think For yourself ad question authority

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16 Lessons (1h 33m)
    • 1. What is Blockchain

      11:35
    • 2. What is cryptocurrency

      5:03
    • 3. Alternative coins

      3:36
    • 4. Analyzing charts

      6:04
    • 5. Wallets

      6:26
    • 6. Coinbase setup part1

      2:30
    • 7. Coinbase setup part 2

      3:56
    • 8. Exchanges

      6:29
    • 9. Seting up your exchange account

      5:37
    • 10. Factoring out greed

      5:51
    • 11. Risk management

      6:01
    • 12. Psychology of masses

      4:22
    • 13. What is technical and fundamental analysis

      4:06
    • 14. Identifying the trend

      3:40
    • 15. Support and resistance

      9:52
    • 16. Using the fibonacci tool

      8:18

About This Class

In this course , you will learn a few things:

The core workings of blockchain. The technology behind cryptocurrencies.

You will learn both technical and fundamental analysis.

How to pick and participate in profitable ICO's.

How to open exchange accounts, to trade various cryptocurrency.

Various news outlets and ways of staying informed about news.

How to trade cryptocurrencies to make an income.

Live a life of freedom. Less work for maximum efficiency.

Also, you will learn about various types of wallets.

As well as various methods of obtaining cryptocurrency.

Transcripts

1. What is Blockchain : All right, So in this module, I'm going to be explaining a couple things. What is Blockchain Blockchain in business. Our money on Blockchain decentralization and how we gonna fix the Internet So before we can get into trading crypto currencies, you know, in making money off of cryptocurrencies, we have to understand the core workings of cryptocurrencies and this software and technology behind it. What are the implications it has for our society? Other than feeling our bank accounts, though, we're all here to make money And we wanna have built a life, you know, off freedom to make money from wherever we want however we want and how much we want. You know, it is it's responsible to have a mindset about the whole thing, not just one aspect of it, but understanding what the technology behind it is doing. That increases your confidence level when you may hear things in the news going against you in your positions or if you know, it's always the neighborhood professional that wants toe have ah lecture with you about how crypto currency is a bubble or how it's not what you should be doing. Well, everything can stay the same forever and we don't use the same coins. And the blooms that pirates did back in the year old age is you know, we don't use the same things. So not even our $20 bill $100 bill stays the same for too long. So over some course of time, we do have to change our currency into a more efficient form. So let's begin what is blocked. And this module we will understand the core workings of this new method of currency we aim to take advantage of. So I'm gonna try to give you some time before I start, you know, reading over each power point. But I do want us to take notes, you know, because not that many knows to take and just taking these down, we'll give you a really nice understanding of what you're getting yourself into. What is Blockchain? Blockchain is a chain of blocks that contain information. It was made to be able to timestamp digital documents. Blockchain is a distributed ledger completely open for everyone. Each block contains three things. Try to think of it as a 30 cute top. You have the data in the middle. You have the hash on the bottom of the hash of the previous block. The data that is stored in the block depends on the type of Blockchain, so Bitcoin had its own Blockchain. Ethereum had its own Blockchain and light coin had a zone. Blocking Blockchain is a suite of distributed ledgers that could be programmed to record and track anything of value, such as financial transactions, medical records, important documents such as social Security number, birth certificate, passports, any other forms of identification that you may have. This information is stored in batches called blocks that are linked together in a chronicle line. Hence the name block chain. It's a nondestructive way to track changes over time. Blockchain was designed to be decentralized and distributed across a large network of computers. This decentralizing reduces the ability for data tampering. Blockchain is its own type of technology, not just a single network, so meat by that, I say, Up to a certain point, I looked at Blockchain as just the addition to the network and technology that we already have, but not its own creation. It its own source. Some Blockchain is open to the public. Some of private, such as your company group of banks from government agencies, something mean that maybe public would be shortened currencies that we would be using those or some public watch ings or various I CEOs or roll initiative watching project that we can invest our money into. Don't be public and accessible to us with Blockchain your building trust with the data the way it tracks and stores that allowing us to interact directly with one another and the data no more intermediaries or middle men. And these actions allow Blockchain technology to underpin many technologies. We have a date so things like PayPal Venmo cash up. Those are linked to a visa bar systems, so they have their own fees, plus visas fees that then you were taken out of your transaction. Every time you send with Bitcoin and watching, we able to send money directly to one another. Not having to go through Wells Fargo to SunTrust to chase and from bank to bank, it's from person to person. This technology will bring all kinds of complex policy questions around governance, international law, security and economies. Blockchain is transparent, safe, audible on resistance outages. So next I'm going to talk about a few sectors that block channel disrupt and I don't mean disrupt in too much of a negative sense, but just change and improve because a lot of the industry's we have now are stagnant within their operation tactics. So here I will explain, You know, a couple industry that will be affected by blocking technology, banking and payments the Blockchain will do to banking with the Internet did to media. You will be allowed to be your own bank. Repeat that again. You will be allowed to be your own bank. This technology will provide financial services too many countries without stable economies , also allowing everyone to send money across borders. So, being your own bank, you know, obviously, putting money all money underneath your mattress is very risky for so many obvious reasons . But the one main reason that anyone would even think about doing that people have ever done that was because they just want to keep their money somewhere safe, where they have control and site over it. When you give your money to a bank such as Wells Fargo, any other major banks, that money is being used in public traded within that company in that insisting that bank and then your money is just showed as a digital number on the screen. So if money is already shown a digital number on the screen, it should be easy for the world to be able to adapt to Blockchain. And it's crypto currency values. But other banking and payment values. Our payment will be processed a lot faster and probably have more. Um, I guess you could say flexibility when it comes to associating yourself with things on a monetary value within your society. Government government systems often slow Paige and prone to corruption. Botching can reduce bureaucracy and increased security, efficiency and transparency of government operations. Data on a central server is extremely vulnerable to hacking data loss and human error. The Blockchain will disrupt voting, registration, verification and vote counting, making sure all votes are counted and none are changing removed. So Blockchain shows you any changes that may have happened over time and, you know, because it shows not only the hash or each bloc, but the hash of the previous book. So in any type of publicly viewable ledger, if any changes are made, it could be viewed. The moment happens public viewable ledgers of recorded votes would make elections more fair and democratic as well as transparent charity. Common complaints in the charity space include inefficiency and corruption. Blockchain could help donations get to where they're supposed to be going. Sometimes when it comes to me donating money to anything that's not me putting my two hands in it, you know, based off of here say that I've heard all my life. It's hard to trust that the money that I'm doing to this cause is really going to this cause. But with Blockchain in public ledgers when donating this money, you can make sure that your money gets the word supposed to go as well as charity blocking will allow public benefits to be distributed quickly and securely, such as welfare. Now that welfare would be distributed on a more virtual and faster platform, it could be more easily manage, track changed and accessible to people crowdfunding, which is something that's gotten a lot of companies to where the, you know, the heist in that they are now. They did a crowdfunding, probably gonna very famous and, well, majorly popular. Well, you site called Kickstarter the crowdfunding site. Let's small inventors, innovators, poets, artists of all sorts you know, post their start ups and have people donate any amount of money they can to the cause. Tell them that started. It's a crowdfunding also becomes more accessible and faster with Blockchain health care. Another industry that relies on legacy systems is health care. Hospitals need a secure platform to store and share sensitive data. Blockchain can help hospital safely start medical records and share them with authorized doctors or patients. Being able to keep track of our medical records, you know a lot easier and not have to always have paper, you know, you leave the doctor's office, you have the papers you have to bring home, you know, the further we get, you know, an evolution. It's hard to keep track of paper, so Blockchain will allow the health care system to revamp the way we keep records and having them accessible to dr across state borders or even country borders. Energy management, which is probably one of my favorite sectors and under management, has been a highly centralized industry for a long time, and you producers and users cannot buy it from each other and must go to the public grids. There are many solutions in place to change energy solutions in combination with Blockchain affecting this only increases. So a lot of people live off grid for the simple fact that they have to pay, uh, third party provider for electricity, you know, So it be really nice that people built to live within a system and community without feeling like they're part of the system, you know? So decentralization and demons and demon hesitation demonization. Sorry about that little tongue twister. They're off. The energy management sector is what Blockchain is looking to do. So botching has, you know, many, many, many uses within our society now. And there's many coins and I CEOs that are coming up within the space that are addressing more than just the sectors that I have told you about. So understanding and staying on top of the different societal changes that block chains influencing and a part of is something that we needed. You know, make sure that we stay keen with and stay on top of reading that type of news so we know where to put our money when it comes to what kind of things to put our money into when it comes to trading crypto currencies. But that's gonna be it for module one. Thank you guys so much. I'll see you in the next module. 2. What is cryptocurrency: Okay, guys. So in this module, we would be explained a couple things, um, crypto currency while it's exchanges. Oh, it's otherwise known as old coins. So what is crypto currency? Cryptocurrency, you know, is what we're looking to trade what we're looking to make income off of, you know, profit. And it's also gonna be the future of our economy. So now we need to understand what it is exactly. Crypto currency is a currency system run off the Blockchain network cryptocurrencies, a paperless, fully virtual currency system. For almost every physical business Anteon in existence there is related Cryptocurrency supporting that sector. Cryptocurrency serves as a value system giving the public the chance to trade various forms of token. These tokens can be sold for goods or services or sold for cash, and Cryptocurrency is operating independently of a central bank. Bitcoin Bitcoin uses peer to peer technology to operate with no central authority or banks managing transactions. And the issuing of Bitcoins is carried out collectively by the network. Bitcoin is open source. It's design is public. Nobody owns or controls Big one. Everyone can take part there. Many of its unique properties. Bitcoin allows exciting, exciting uses that could not be covered by any previous payment system. Bitcoin was created by Satoshi Nakamoto 2009. So Satoshi Nakamoto is a anonymous individual. You can't really put a face to the name, you know. His creation of Bighorn was meant to be discreet from his end, but a lot of people think you on Musk is the creator of Bitcoin. But these are just facts that we can never really pretty well we can prove is that it exists and that it's being used and that it's popular. And not only is it popular, but it's what are the future of our monetary system is riding off right now? Ethereum Ethereum is one of the other main grandfather coins. One of the first main three, Cryptocurrencies, is to have been in existence the three with the decentralized platform that runs smart contract applications that run exactly his program without any possibility of downtime, censorship, fraud or third party interference. Now, one downside with Bitcoin is it is a bit slow in relation to a theory. These APTS, running a custom, build Blockchain in an enormously powerful shared global infrastructure that could move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions giving long in the past like a will or a futures contract, and many other things that have not been invented yet all without a middleman or counter party risk. So most of the trading that you do will either be with a Bitcoin currency pair or an Ethereum currency here, and I'm gonna go into further explanation in the later sections as to what a currency here is. For every physical entity we have there is relating crypto currency. This is something that I like to, you know, make sure people really understand when it comes to investing. You know, there's been a lot of debate with me around Cryptocurrency versus Stocks. It's not our weather one versus the other. It's about what's taking place now and taking high. Cryptocurrency is the new factor in economy and seeing is that we have many, many twenties from, you know, aerospace to marine tech, two room biology to environmentalists. Tech. You know there's tons of things that hold physical sectors right now. Crypto currency is I won't even you say it's slowly doing it, but at a very rapid pace. There is a relating coin and currency being developed for any type of company we have or able to invest in now. So that's something to keep in mind. Looking for various investment options, I CEO options and long positions in your Cryptocurrency portfolio. So that's gonna be it for this section. I'll see you in the next one. 3. Alternative coins : Okay, guys, um, I really should have put this with the last video, but whatever here we are, life goes on. So I wanted to explain to you guys, but all coins are so previously in the lesson. You know, I kind of briefly went over the three grandfather coins, Bitcoin, ethereum and light coin. Some may argue that card on no, sorry. Manero may fit within the grandfather coin list, but I'm gonna keep those three. And there for now, three originals, the yogis, all coins or in long alternative coins in simplest forms is every project and company that is either using the Blockchain network three of network network, or most sometimes their own Blockchain. But a lot of times, um, a lot of coins used either a block game or Ethereum based network and their alternate coins . Right here. You see a coin called us I o ticks. Ethereum. That's one of the grandfather One. Does you? No. On TAA lige drawn. I saw I saw I saw icon card Anno finance coin data token. Stellar lumens air on my OTA you have tons of alternative coins. Okay, Tons, tons and tons and tons and tons in terms your responsibility as a student of the game and other trader is not on Lee to look at the numbers on the screen, right? Yes. You know, we have 24 hour volume, 24 hour load. 24 Ohio, 24 hour change. Last price. You know, there's tons of numbers for you to be able to analyze and look at and trade successfully, but there's always gonna be a point in time where the numbers aren't telling you anything or aren't telling you enough. You always want to do your homework on what a coin is doing. If you are to take interested in. And if you don't know what any of these coins are doing, well, I would suggest start looking in to the top ones that you see on exchanges and just go down the list. This is something you plan on taking seriously, you know, going down this list and take. I use a trading notebook and I buy. I go out and I buy a separate notebook. Agent has to do with crypto currencies trading. Analyzing theory goes in this notebook. You just take notes on what the various tokens and coins are doing that way. When you look at the numbers, you can match the numbers with the activity in the project because you don't wanna invest money into a coin that's selling dog poop. You know, the numbers may look great on paper, but the company sells dog poop. So you wanna follow things that have longevity and not be so eager for money, but eager for consistent results? But that's it for now, on all coins. And we're gonna continue on with the next model. Thank you guys so much. Syrian Module three. 4. Analyzing charts: Okay, guys. So in this section today, I'm going to basically talk to guys about analyzing charts. The name of this site is trading view dot com. Okay. And they have all types of market news, analysis and charts on here. This site is basically like a twitter and Facebook for all things trading okay, and money and finances. So sometimes we can't always get the best ah, view of charts within the exchange sites. So this site like enables us to be able to come back and look at those charts in a more clear view, accurate, cleaned up version. But I really want you guys to utilize this site when trading, because, you know, you have a whole network of traders who are actively looking at the same things. You making money, already been doing this for a longer amount of time, and they are on here, you know, talking about the coin, talking about what's happening, and it's, you know, it's really something to take advantage of when it comes to your your beginning treating. So, for example, when we go on our exchange rate, we see ethereum, btc e th btc. That is the ethereum Bitcoin currency pair. So let's say we click on it and we want to look at the chart. This is a very small chart, Harto. It's hard to look, you know, we're going click on the candlesticks. Oh, here we go. And candlesticks have failed us on the church. So that's what I run into a lot. You know, I run into slowness of the some of the things on these platforms and the charts because my history is has come from trading four X, so I'm used to very nice, clean, precise charts. So let's go over here typing e th btc because that's the chart we're looking at right here . That's where I get that from Ethereum to Bitcoin e th btc. So we have it right here. E th btc beatrix exchange e th BTC finance exchange. And since we're on by Nance, want to make sure we click the finance exchange option if you don't see her? You know, if you don't see by Nance there sometimes don't worry about it too much because you're gonna get that the overall idea. So you're gonna take to this screen? It shows your overview whether or not you should be selling or buying, right? All these people talking about what they assess is going to happen. Most people are saying by that's what long means. Long means by going long, going long. And when you click on these analysis, right, these people, you know, they put work into it as much as they can, at least Well, I'm sorry about that. So this is a full breakdown and analysis off. What this person says is going to happen to the price. Okay, So trading view is a really, really good tool to use. And trading alone is nothing that you have to do especially, you know, in this day and age, because with all the technology at our fingertips, you know, the whole act of getting good at this is a lot easier, like a lot easier. So we're gonna go ahead and look ah, actually chart itself And to get this out of the way, you know, even though you've got some news right here, Finance announces the formation of a $1 billion Blockchain investment fund. Watching media company acquires the beyond Bitcoin documentary Kings Film Festival kind of news. Like I said, psychology of the masses that this new sounds right? According to what you're investing in. Then you should know which way to go regarding. But so in order. But you want to get this out of the way for a little bit. Go ahead and click that right there and I can go away. You want to get this out of the way. Right? Click Hide. All right, we're gonna go. And for now, we believe that there. But this right here is your charts. You notice when you want to look, uh, taking a position or you know what you should be doing. You always want to be looking at your charts and you want clean charts. You know, you want fast moving our fast enough moving charts to look at to make proper analysis. All right, guys. So that's gonna be it for you know this section. You guys in the next video 5. Wallets: All right, guys, we are back. We are back. We're back, and today we'll be talking about wallets. So in order for you to hold crypto currency, you know, happy only make it yours. Keep it in your pocket, be up with it or at the half crypto currency. You need to have a wallet. You know, unlike cash. Or you can just stick cash in our pocket. There is no physical option for us to just stick in our pocket. We need a wall it off some sort. Hot wallets versus cold wallets. The difference between a hot or cold wallet is simply whether or not these different crypto wallet types are connected to the Internet. Hot wallets are less secure, Cryptocurrency wallets Because the risk Internet access poses to your privacy and security . However, they're much more user friendly. Cold wallets are encrypted wallet type used for the cold storage of cryptocurrencies and are stored offline for improved security. They're more like a real world safe or a vault in a leather wallet you carry with you for day to day transactions. You likely use crypto currency, wallet types that are connected in net and wallets that arm depending on your needs. Ah, hot wallet for small day to day transactions in a cold wallet for long term holding Online Web wall online wallets are typically crypto currency wallets that you access. View your Web browser. In some cases, you refer to all hot wallets is online wallets. But that only gets confusing when we start to discuss individual platform that your wallet resides on, such as mobile or desktop loads. Do not put the bulk of your crypto onto these wallets. Trust. There are a couple of advantages and disadvantages. Online wallets. Your exchange accounts. It's just bit tricks or finance counts is an online wallet. Some of the advantages are fastest ways to complete transactions. No lag between locations. Oven happened server ideal for holding small amounts of crypto currency. Some are able to manage multiple cryptocurrencies, transfer mountains between them or be directly integrated into an exchange. So what I mean is like Quinn Base is one of the most popular mobile wallets. Coinbase only has four currencies in which you can manage. So some of them, you know, like finance metrics, are the ones that are directly integrated into an exchange. Tor network can be used for more privacy. Tor network Mostly due to a lot of deep Web stuff. That's a different course. Some of the disadvantages uses. They're susceptible to phishing scams, malware, insider hacking, DDOS attacks and outdated security measures. Your wallet is out of your hands, tenant speaking and coin information stored on 1/3 party in the whole point of cryptocurrencies to produce that is possible. Your computer is open to malware key loggers and viruses and phones cause cancer. So I'm not saying Don't use these things for just be aware. What is a mobile wallet? Mobile wallets provide access to your crypto currencies wherever you are with your mobile devices provide additional features above and beyond wallets that are completely Internet based. However, they also come with additional security risks, so mobile wallets would be Blockchain, app and Quinn. Base 10 X is another mobile wallet that has a debit Bitcoin debit Cryptocurrency debit card attached to it, but they have not released the cards yet, but they do have their 10 X application available on Apple. ITunes and the Google Play store. Some of the advantages of a mobile wallet. Our it's more practical and easier to use than other cooked a wallet types Great to accept or send payments on the fly when out in public at a restaurant mauled beach. Whatever the case may be. Additional features above and beyond. Both online and Harbour Wall. It's like you are code scanning, which is a huge plus. It makes your life a lot easier in terms of entering the white address to send it to people whenever you have to manually enter each letter. That gets a little nerve racking at time, because if you mess up, your Bitcoin is gone. Tor Network can be used for more privacy. Mobile wallet Continued phones are incredibly insecure devices. Nothing will save your crypto if your phone has been maliciously compromised or rooted, not even wallet app encryption. Your phone is open to malware, key loggers and viruses. Some of more example. Event the example that I already said as a from of wallets are coined based Blockchain app and 10 X hardware walls. Harder watch our have cold storage device. Some resemble little US fees, but the more popular ones have little screens. Legend, Eno and Treasure are the two leading brands. Thes are both ledgers This is the 1st 1 version of Ledger. It's the one that has one of the left is, um, the one that comes to the screen. You know, you have multiple access to tons of different coins and when the right is the more simple USB looking version, but they're both very justice secure. I do love treasures, but he's just too, I'm sure. For now, some other types of wallets we have would be paper wallets, paper wallets, you know, if they're not user friendly, takes a really good understanding of how everything works on a drill to use those. It's basically, you know, sending your Bitcoin toe on address on a piece of paper, and you keep that in a safe or vote with, you know, with these hardware while that you walk, this is basically the safe or vault on a piece of hardware. You keep this locked up pretty safely because you know you are now your own bank, but that's gonna be it from now regarding wallets. I'll see you guys in the next video 6. Coinbase setup part1: Okay, guys, this is Brennan more here today. In this video, I'm going to basically cover how to make a coin based account. So Coinbase is going to serve as both in exchange for so you can buy and sell Bitcoin also as an online wallet. And you can access Bitcoin from your iPhone. Or if you have an android phone, you're gonna access it there as well. We can also access it from your desktop or your laptop. We're gonna go ahead in the top, right click, sign up. My information is gonna problem here. But you're gonna enter information and go ahead quick. All of this on verifications and room. So it's going to send a verification email. Go ahead and verify that all right into your phone number. And once you enter the code that your phone number gives you, you will then be taken to this page and this very felt your more secure information to go ahead and fill this out and then we'll continue 7. Coinbase setup part 2: Okay, so once you've entered all the information, you'll be taken to this page right here. Um, on this home page, you normally have any announcements that quantitative like toe inform you about, and you have some status on each coin. You have Bitcoin here Bitcoin cash, and it's pricey theory. Um, light coin. You also have one hour, one day, one week, one month and one year intervals. She can go ahead and take a look at any of those things. You know that your free will So here's a little checklist of the things you've completed that will get your account in full saying to be able to get active to start buying something Bitcoin. You get your identity verified when you click. This will upload either a picture of your driver's license or regular photo. I D. And then you're going to submit for verification. Without this, um, verification, you will not be able to buy, or so any Bitcoin. It's Some people feel a certain way about it, but it is what's needed in order for you to get started. Some exchanges won't acts for any for identification, but in order to get the Bitcoin to put on those exchanges. You do need to most of the time provides some kind of i d. After you have provided your i d. You're not to provide a payment method. You can link your bank account view, routing and accounting number. You can link your debit, anyone, your debit cards. You cannot link us credit card any longer because Visa has cancelled all transactions. Has not allowed all anymore transactions for Cryptocurrency using a credit card buying crypto currency on credit. Because a lot of people were basically taking their credit card buying crypto currency, investing in and then within two months making crazy gains, paying off their credit card debt and then some, you know, and still having much to spare. So get some people got a little salty about that, But it's all right. We will still prevail so you can link anyone in these payment methods right here. Um, if you are looking to invest larger amounts bank account, the bank account option and the wire transfer option would serve you a lot greater, um, debit card. You doesn't allow you to invest smaller mountains and, uh, buy and use coin based a lot more to get those amounts increased. When you do, submit whether it be a debit card bank account, Um, for as your payment option on queen base, the verification process will be coined based making deposit into your account whether it's gonna be a deposit between $1 let's say $2 it's gonna enter to deposits, maybe one for 1 25 and then one for 1 35 You have to then verify those to deposit amounts on your coin based account in the verification box for whatever bomb payment method you supply and enter those two amounts to verify that the bank account belongs to you. If you don't do that, then you will not get the bank account verified, and you won't be able to buy Bitcoin or so it. But you. Even if you don't have any of the verification options, you can still use coin base as just a wallet. But in that case, you know you can also buy and sell Bitcoin to other third party sites. So that's also known options. Other third party sites kind of similar to eBay, but for crypto currency, you know, they allow various methods to buy and sell Cryptocurrencies. Not just Bitcoin, but anything on the scale. Um, that's gonna be it for this video, and I'll see you in the next one. 8. Exchanges: Okay, guys. Hey, how are you? Um, I'm really excited to talk about this portion of section to with you exchanges. Now, I've worked with a lot of people who work with a couple of exchanges, and it's just really exciting thing to see, you know, various platforms being put out within the Cryptocurrency space to let users get access to various tokens, and it will tokens and coins. Um, one of the most popular exchanges right now is finance. Uh, finance is an Asian exchange, particularly which part cannot remember. Please excuse me for that one. Um, but it's right now does have the highest trading volume, you know, of all the exchanges, and it is personally the one that I use. So there's a couple of things on exchanges that I want to point out to you guys and you explain and just kind of navigate around. Well, first, I'm going to actually take you through a couple different exchanges. So this is by Nance. This is crypto Pia. Um, crypto Pia. I don't use it as it my main exchange there. Just maybe a couple of tokens here and there that I do need that aren't available on buying . And so then I have to come here to actually get them. So that's like the purpose of keeping you know, a couple different exchange accounts is that sometimes tokens come out on one exchange but not the other, or they haven't come out. You know, it's something they're never going to be. Just hasn't come out yet because each I CEO and each coin has to, you know, make a partnership with these exchanges and then that's when they get listed. But cu coin, um, is another one of my favorite exchanges. A lot of interesting, interesting projects get released on here, you know, And it z interesting. Like the type of things that get released one here it's I really do like it, you know, Umm Bab is one of them Bab I was watching for a minute. One chain, you know, one chain actually got pressure got released on finance before cruise line, but some of the stuff that dropped some of the coins that drop on the coup coin first they would normally come out maybe two months before dropping on finance sometimes or even, even if it's just one month, you know the price so different, and you can get coined at a lower price when you get it on kuwtk one. Because it is an overseas exchange and a lot of the coins that are coming up now are overseas projects. So let that explain itself. But going back to finance when you see so you have this whole exchange and what the whole point of exchanges is, it's connecting you to a trading system toe. Allow you to buy and sell various types of crypto currency and other coins, which is Alz when you have when you go to your you know the most. Use exchange of justice Queen base coin bases a unicorn. And I say that because coin bases boasts both a wallet like it, they market themselves both a wallet and the leading Cryptocurrency exchange. Now on coin based, you could only buy and sell Bitcoin ethereum light coin in Bitcoin cash, so that's what you're limited to handling on queen bees. But when you come onto an exchange now, you have access to a thons and tons and tons and tons and tons of coins. So way more fun, you know, way more. There's way more depth to the whole crypto currency market system and trading within it, making profits within it. So one thing I won't explain to you guys right here is pairs in forex trading, you know, and mostly is what I related to, um currency pair would be like us djp why? Or euro USD or British pound us dollar. You have currency pairs and it's the same thing on the crypto. Mom exchanges. You have different currency pairs. You have us to Bitcoin, you know Ethereum Bitcoin drawn to Bitcoin care X PTC All right, They're called a currency pair. It lets you know which two coins are being compared. At the current moment, you are objectivist e analyze whether or not what's the I c x vtc where the icy X is going to gain strength or weakness against Bitcoin. So that's one really important thing to understand. But regarding exchanges, Um, when you purchase Bitcoin through Queen base or even a Bitcoin a t m you, I will send it from your wallet to your exchange. Okay? And I'm gonna go through that in a separate module in section cause when it introduced exchanges to you guys, but you're gonna send your Bitcoin to your exchange and then have your funds being able to get traded through your account. But this is where you are. You would initially analyze. You know what you're doing, What you're gonna involve yourself with and so on and so forth. All right, guys. I'll see you on the next video. 9. Seting up your exchange account: Okay, we're back. So welcome to module four. You know, we're progressing. We're getting more, more done, as in terms of getting closer to being able to trade responsible. So in this section, where we're gonna be doing is I'm going to show you a little run through how to set up your finance account through and go over to register. You're gonna enter your email password confirmed that and then register. I'm gonna go ahead and log general quick. So this Google authentication screen you see right here is a two step verification process . I have set up on my account to keep my accounts as secure as possible. Google Authenticator is an African Dalit on your iPhone or your android phone. And it basically has, like, a code that refreshes every 90 seconds. Some you've you may already understand. I choose the authorization works. But for those of you who don't, I'm just going to try to, you know, give you a brief summary. But within the next video, I will also be actually, go ahead and do it in this one, showing you guys how to link your teeth, the education, other off, authentication to your phone once you've set up your finance account, so to step really keeps your account secure. And, you know, in case someone traced the hack your account because they would need your phone, your physical phone to be able to, you know, see or get into your account. I should say so now that we're on our exchange on by Nance. Oops, just a little Putting their This is what our chart would look like for you guys, but, um So when it comes time to actually deposit money into your account right from Queen Base or wherever, Wally, whatever while that you have, you would go to funds deposits. You're going to select the type of coin you want a deposit. So if you have Bitcoin, you're going to search for Bitcoin. Make sure you always paying attention to week clicking. Don't just quit the 1st 1 because you saw part of it and they're not letting between cash but Bitcoin if you have ethereum, ethereum, light coin and so on and so forth. So let's say you wanted to parts. Um, bit coin click Bitcoin right there. Send Onley Bitcoin to this deposit address, sending any other coin or token to this. Ideas may result in the loss of your deposit not made, but will result in the loss of your deposit. This right here is the Bitcoin deposit address for this exchange. Okay, this is the address for this exchange. You can click right here to show the QR code. And if you have coined based or on mobile wallets set up on your phone, you can press send from the mobile wallet, open up the QR scanner and scan this address right to then send how much Bitcoin you want into your exchange account. Now, if for some reason the scanner is not working, you can manually enter the code. But in order to find the code Like I said, the address is right here. Once you go ahead and send over the token from your wallet, which everyone that maybe over some time, in over a span of 3 to 5, even 10 minutes sometimes you'll see the transactions come up here and take place. Okay? Some people, when it's their first time ever depositing, crypto or deposit, could do in exchange. It takes a little bit longer than they expected. And they have these mental breakdowns. Just go ahead and calm down. Alright? Just go ahead and calm down. When that happens, I don't want people toe lose their mind, you know? But now on to the two step when you wanna enable two step authentication to your phone, you're gonna go here, you're going to click enable, and then you're gonna follow the directions. After that, it's not rocket science. Guys, once I show you where to go, it is very easy after that to follow that a given direction in the screen and set up two step authentication to your phone, but make sure you know how to get to it. So from the buying and screen, go or heard this little guy here account, it's gonna be right there, and you can afford the directions after that. All right, guys. See you in the next video. Thank you for watching 10. Factoring out greed: Hey, guys, we're back. We're back. Back! All right, So in this video, one of my favorite things, the thing that took down Pablo Escobar himself green This video will be working on factoring out greed. All right, So greed is something that really initiates most of the downfalls within men. When I say men, I don't just mean Onley men, but, you know, there were actually more accurate with what I'm saying. Greed has been the downfall of many people over time, throughout history, different field, politics, sports anything. You, you, you, you, you, you You're probably one of the ingredients people ever. You know, ever since you were a baby, you're being greed. One more milk. You want more that you want more? This you want more? That that's fine. You can want what you want, but understand. Agree when it comes and how it's gonna affect you in that current situation. When it comes to currency of any sort stocks or any type of financial instrument, greed is your enemy. Okay? Greed is your enemy. You do not want to let greed overtake your mind and your thought process When handling your money and trading it would be absolutely amazing to make $1000 a day while taking crypto currency, and it is not impossible. Okay, you definitely can reach that point easily. But if you just started with a woman with a $1000 account, don't expect to be making $1000 a day. And let's say you normally make 80 to $100 a day and then one random time made 300 day after that. At that point, that's when I close my laptop down and take a little break. A breather hose show. You know, I walk away a winner for the next day or so. The money is always going to be there. OK, the market is not going anywhere. I don't know anything, definitely don't know everything. But what I do understand is that the market is not going anywhere, so don't feel like you're in this constant chase. And it's always a time limit, and you have to get as much money one day as possible. Even when the markets look extremely crappy, you want to be able to have more wins than losses, accepting losses of some of the biggest lessons in your trading. Factoring out. Greed is one of the most important things to do before putting money anywhere. Okay, factoring out greed. Pablo Escobar. I know this is a bit off relation, but Pablo Escobar was a drug kingpin. Pablo Escobar make so much money. And I mean so much money, so much money that as a drug kingpin, he had enough power and influence to become the president of Colombia. But no, that wasn't enough for him. He got greedy. And that greed led to his downfall. Huge rat race and chase. And then the means of getting shot. Um, need I say more? Make a long story short. Greed will, in other words, shoot down your money, shoot down your accounts, blow your accounts. So where you put $1000 in your account, blow it because you did something stupid, but get greedy. And then you never want to trade crypto again, and it doesn't work, and it's a scam. And everyone was right. Well, you gotta let that happen to you, Or learn from my horrible, wonderful mistakes and work on. No, I think not. Something you may take out of your date instantly, but something you have to work on because the mindset that you will achieve while learning how to trade it is a mind set that, in my opinion and belief, really works out for you in your day to day life. When it comes to risk management, your risk, you're you're seeing the risk in different things that you do, whether it's worth when I start your life but your time in that moment, you know? So these thes applications off thought are very important to your success. Is a trader in a long term trader And it's really obvious as to why. You know, we can't always be greedy. Good to be greeted. Beginning sometimes sometimes. But that's it for this section. Thank you guys. So much for watching. I'll see you in the next one. 11. Risk management: Okay, guys today and this video will be talking to you about risk management. Um, a lot of us sometimes going to open up positions without having a game plan. A strategy is what kind of management Saturday we want to have. Um, risk management is really important, you know, to keeping longevity within your trading accounts. You always want to, you know, go for consistency instead of go Moby Dick Whale hunting every single time. You know, that's a lot of people think cheating is about because that's what they heard. And I'm not here. Do you know tell you that you'll never make huge profits? I'm telling you, going to have to build up huge profits. Um, it's not even like it takes forever, like takes tons of years, you know, maybe like a month or two or two or three months or 45 months is gonna take forever. But just some time to build up to making bigger profits. But risk management you know, you want to know how much money you're either gaining or losing Every time you look at a chart and see a candlestick go up and incoming, you always want to know and you'll know that depending on your account size or your position size if you let's see you $1000 worth of Bitcoin. Your body tells you from nice news about iota. So you want to trade. Put a whole your all your $1000 down Yeah, you by 1000 with Biota and close computer Go chilled beach. Everything's amazing. Everything's perfect. Oh, but I orders me that he's got hat and that was a piece of news that you didn't hear about Why your beach. Now the price dropped 20 points from when body, but that I'm making all the money you thought you gonna make. You actually lost money, so putting all their eggs in one basket is, you know, that's what you want to do, that that's your style trading, and you can do that. But as Iran must lives, they don't put all your eggs in one basket unless you can control. Unless you can't control that basket them. Sorry for that little blue, but don't put all their eggs in one basket unless you control that basket. So you know people who initiate pumps. That's the time they put all their eggs in one basket on the pump free. Those you don't know is when someone with highly influenced celebrity status, but even like any type of following on a chat room or or forum YouTube instagram. You know they hype up a coin for a little bit amount of time, like a week or so, and then they till older friend to get a group of people to all by a coin at one time that is called a pump. And once they all bite at one time, the price rises mean then they all sell it, making profits. That is a time where you could maybe control the basket. But in most cases, you don't control the basket, so it's always nice to diversify your portfolio. You always wanna have options. Me, I do take crypto currencies for certain, up to a certain amount. I don't I'm not money hungry where I take a go all day just to continue making profit profit profit from trading every time trade, you are putting your capital at risk. That's something you always have to understand. Every time trade, you are putting your capital at risk. Okay, so less time you spend treating the less your capital that risk, The more time you spend treating, the more you capital. But, you know, on the bottom there is top. The more time you spend trading, the more opportunity you got to make more money. The last time you spent treating, the less opportunity you have to. But it's all balance. You know you can't stand. You complete all day long trading, trading, trading, trading, trading because at some point you're gonna burn out and not make accurate decisions. It's better to have three higher amount accurate trades, then 10 average ones. I'm saying so with risk management. If you let's say $1000 in your account, it would be smart, you know, to trade with only $100 on your chase to start off. So let's say you average out $80.100 dollars ticket our trade in the Bitcoin conversion, but it's a start. You know, you start getting to the cycle in the rhythm of making consistent profit, so risk management cannot be done by percent juice. You take out your calculator to a 10% risk management strategy. 2030 40. But I always like to keep it if I have for every $1000 I have my account. The max my trade can be at is $1 for trade for every 10,000. I maybe do $500 maximum allotted portrayed could slow in state, you know? But they got so much. That's it for risk management segment. You guys in the next section. 12. Psychology of masses: Okay, guys, Thistle is gonna be the last section in my three. This section is gonna be about psychology of the maxes. Basically what I mean and referred to when I say so. I call it the masses. Um, a lot off movement incoming in the currency market has to do with the psychology of the people involved in the currencies by people that could be based businesses. Jimmy Rich wail investors in life not least the best last you everyone a trader in the world whose trading on crypto currency market thanks and the react news not the exact same way that you do, but in a similar way that you So they hear that the queen is gonna soar for someone. So reason they're gonna do to say anything going there, Count what a Lord bio. We're in for some big point because they want to get the same profit based on the news they heard because everyone thinks the same when it comes to all points or I CEOs or various projects that you're going to have released. When have you analyzed the project is doing you want Put yourself in the shoes of a consumer foreign investors looking to invest in the next big thing. Oh, yeah, investing the next big thing. If, after analyzing the project, you would put a $1,000,000 into this project that's one green flag for the night. Putting your money your money in your real money Analyzing coins to put your money into isn't hard. It takes a bit of common sense. Were not everyone has that, you know. So when it comes to the psychology of the masses by use so the charts Okay, if the news Jasin enough to make a move and you think so in your head by your new background point news that may be going against your position comes out, look, see how detrimental it is or isn't your position. So but you always in a sense, do want to ride the wave. This is not one of those. This is not one of those situations like music, for example, where you know, if you're just making something with music, you're just riding a wave or riding the train well in markets and investing in treating it is all about okay, all about the trend. Did you see Bitcoin going for a bull run and bowl is up trending. Market BEAR ISn't DOWN tending market You see big linguine for a bull run. You want to buy and ride that trend. Everyone else in the world and in Big Quinn and market news will tell you what's happening in the markets before you get a chance to look at a chart. Now that's not to say, Take. Everyone's were around for face value, made your own analysis. Your own thoughts is what we'll give you the most success in treating. Understand the psychology of the masses, understand the trend, but make your own announces at all times. You guys watching the end of my three and I'll see you in the next model. 13. What is technical and fundamental analysis : is is so in treating, you know, there's two main types of analysis. Technical and fundamental. Technical analysis has to do with charts using algorithms, patterns, um, math equations, even to produce an analysis as to what you expect to happen within a market. So all technical analysis will be done on a chart like this. So right here I have the Bitcoin USD currency pair. Remember, you have Bitcoin USD, and the two of you together is called a currency pair. Technical analysis is anything from, um trend lines like this to forks, other lines and fans stuff like that, using different tools on chart, too. Making analysis. Fundamental analysis now mainly has to do with related economic factors, news and other price information and using that to influence your analysis and your decision making when it comes to a market. Um, when it comes to fundamental in getting my news, I like to go to a site call investing dot com. So they have various news on different markets and our relevance will be within crypto currency. So if you look here, I'll show you the top cryptocurrencies current price market caps volume. All right, you have a little chart right here, and then you have some news. Each crypto currency has tons and tons and tons of news behind it that influence its movement. For example, leading cryptocurrencies break above bear channels online started emergence of the new Deal breaker and lottery daughter. Did it die off? These news reports may not always be relevant to you, but a lot of them are still relevant. Being able to have access to information such as this is what you call fundamental analysis . There's tons of ways for you to get access to crypto news, so let's go Bitcoin use who will search that? Oh coindesk dot com. So there's many places for you to be able to get, um, analysis information regarding your trades. Ample information. So that's gonna be it for the fundamental and technical analysis. 14. Identifying the trend : in this video, I'm going to be showing you guys how to identify the trend of the market. Okay, whether we're in a bullish or bearish market, whether we're in an uptrend or downtrend. So toe identified trend. We're gonna want to go to the one day. Okay, this is where you're gonna start. Begin your analysis. Hi. Your highs. Okay, higher highs is an uptrend. Lower lows is a downtrend. So, for example, and lower highs also signals a downtrend. So I'm gonna go ahead and highlight turned highlights some of those. Ah, points for you. So right here. Okay, we have lower highs. So lower highs, right? It's a high point. And in the high point gets lower on the high point, gets lower that right there and then it gets lower one more time. That right there signals a downtrend. Okay. How you know which direction the market is trending just by looking at the naked chart? Another thing you can do is use an indicator such as you're moving average and your exponential moving average. To get that indicator on your chart, you're gonna go right here to indicators type in moving average and then you're also going to look for exponential moving average all the writing on Asia. Yummy. So we're gonna go to settings, go TME and change that to 18 and also changed the color to read our new year May. So when the blue line is over the red, that's how you know it's an uptrend. Red over blue is a downtrend. Okay, so right here I received the red is over the blue. So right now we're in a down trending market. Go to the four hour timeframe. Red over blue downtrend. Okay, Blue line over Red of trend. It's really simple. And for me understanding the trend in the market during the technology, we have applicability to us. It's really easy to, um, identified the trend markets as well as looking at it with the naked eye, seeing lower high points, right and lower low points as well. All right, that's gonna be it for identifying the trend 15. Support and resistance : Okay, guys. So in this section, I'm gonna be teaching you how to mark your support and resistance levels. So and we're gonna be doing this on trading view dot com. Okay, so we're gonna go trading view dot com and we're going to markup are Bitcoin btc, USD chart, go to interactive chart and this is what's gonna pop up. So the main reason for drawing supporting resistance lines so you can see the points in which the market is getting weak And when a line hits a support resistance, line it It's normally looking for a reversal, meaning it's looking to hit that line and go back the other direction. So support resistance lines are lines on the chart and price points in which the market struggles. Okay, The market reaches these points and struggles and then looks to go back the other direction . Knowing where these support resistance lines are will help you understand which direction the markets moving and help you place trades and know when the dips are coming and it will take advantage of buying the dips and selling the high points. That's how you're making your profit. So let's begin. So right here we have our candlesticks. The red candlesticks indicate a bearish market and the green stand candlesticks represent a bullish market. Red is a downtrend. Green is an uptrend. So when marking our support resistance lines, I like to change the lines from candles. And these are candlesticks. These shapes these bars. These are called candlesticks. I changed from the candles to the line chart, and I go on the time frame right here, and I switched from the one hour time frame to the one day time frame. Okay, real quick on the switch back to the candles. So the one day timeframe gives you a complete over you over the market. So when your trading, you get to pick what time frame you're trading. And if you want to trade on the four hour timeframe, you're gonna look at the daily chart she wanted. Trade the one hour time frame. You want to look at the four hour chart, and if you want to treat 30 minute time or 45 minute time frames or 30 minute time frames, I still want to look at the one hour right here. But as in terms of making my support was this support resistance lines. I'm going to go on the daily chart first and then choose my lines. So I'm going to zoom in and right here is where the price action is. This is where the price is currently sitting. You want to keep your support resistance lines as close to the price action as possible so you can keep it relevant. So support lines are gonna be on the bottom. Resistance is gonna be on the top. Okay? And those lines can change depending on where the prices. So we're going to take out our horizontal line tool, and we're gonna look for the points where it touches on both the bottom of the line and the top. We're gonna look for multiple points as the words touching. Okay, so right here we have a touch and I'm gonna make my lines on the daily read. Okay? All my lines on the daily time from we're gonna be read, I can keep things organized. So right here you see the line. The point comes up in touch is right here from the bottom of the line, and it comes down and touches on the top and has a multiple touch right there. So I'm gonna go that the whole chart and look for multiple touches. Right there. Right there. Touch. Come up. Touch right here. It came up and touched The lion came down and touched it again twice. Right here. Also came up and touched it right here and touched it right here. We can maybe get one more right here. Touch. And once you get those initial lines down, when you can get one more right here, maybe once you get those lines down, we're gonna go ahead and switch down to the four hour timeframe. We're going to continue to do the same thing. So when Look for those points as the words book touching on both ends right here. So that line we're gonna click it, and we're gonna change the lines on the four hour timeframe to green. So we know that these are the four hour levels and then the red lines or the daily levels. So we see it touches right here, comes down and touches right there. Right here again. Touch right here. Touch right here in another touch right there. All right, so we're good for now. So once we've done that. We're gonna go back to our candles. And now we have points as to where the line struggles for the market struggles. So as you see, the line comes down, Market comes down, breaks through the's support resistance levels, and it hits support. Support is the bottom. So the lions coming down. It's touching support if the line is coming up touching resistance. Okay, what goes up must come down. Okay, so if we have this line coming all the way down, you see right here it came up and hit the resistance level. It's resisting. Okay. It's barely able toe make movement over this line. So it resisted and then came back down, broke through this support line comes all the way down, starts to hit another struggle point. So it hits this resistance. Love the support level right here comes up and it comes all the way down again and breaks that support level to hit this support level right here. Asked the Daily. So this is the four hour support level that it broke, and in the daily support level it respected it and held strong. So it hit that support level. Then came right back up. Okay. And the market does that continuously. There's various levels relating to price history. Should this resistance level and this resistance level are history of the prices highs, high points. But as we see right here, Price came up, hit this. Support broke, the resistance broke the resistance, and it's hitting again, barely able to break. Okay, so right now we conceive e, the price will most likely come down and test this support love. Okay, so supporting resistance are extreme. Makes you make sure me crucial to use when it comes to making accurate analysis. Okay. And when you go on the various time frames, those support level support, Mrs Levels will remain, allowing it to see where the price will go. So that's gonna be it for support. Resistance. I'll see you in the next video. 16. Using the fibonacci tool : Okay, We are back on the Bitcoin USD currency pair, and today I'm gonna be showing you how to use your Fibonacci retracement tour. So the whole point of the Fibonacci retracement tool is to mark price reversal zones. And a price reversal zone is a point and a price within the market as to which the market is going to reverse and go the other direction. Knowing when the market is going to reverse and go the other direction is extremely, extremely important to know. That way, you can open a trade in the right direction and make a profit. Okay, so we're gonna go over here to the tools, make sure we click Fibonacci retracement, and to you, from not you tool you to go from. Excuse me, The previous a previous high point down to a previous down to the current low point or previous low point. And to get your lines like this on the side, have a couple settings. Hopes in a click on it right there. Quick. The settings box. Sorry. One more time. Quick on your fib numbers, click settings style. And you want to make sure your levels match up with mine right here and your colors. So I'm gonna leave that there for a second, all right? And I also use extended lines. Levels take off the prices. So it's just the percents. Keep the percent for my labels on the right. And then I put my background opacity all the way from here. River to all be there. It makes it nice and clean. I only see what I need to. So when I took the line immediate, right. You see how the line right here goes up and hits these levels? Kind of like our support resistance levels where it's hitting a line and then coming down with these right here are mean price reversal zones. And the main points we want to look for is 38.2, 61.8 and sometimes 88.6. Okay, so when we took the line drug from here to here, you see that the price goes up to 78.6, doesn't break this line and begins toe reverse. All right, and go back down this way. Okay? So the line within our Fibonacci retracement tool each line that we're looking for 38 point to 61.8 80.6 If the line if the market comes up to 38.2, line right here and doesn't make another candle over the line. Such as, for example, 61.8 made another candle over the line fresh over the line. Tell, you know, is gonna continue going up. But if it doesn't make the candle over the line like this the wicks, which is the long stick form of the candle the week if it just barely skims right through it but doesn't make a line above it. So you know it's struggling, so it's gonna go back to the downside. It's gonna hit back this way. Okay. Oh, the way back. So when the price hits the 38.2 mark, it's gonna come back down fast, very, very, very fast. Okay, Very fast. When the price hits the 68 1.2 mark, it's gonna come back down fast. But it's gonna be a little bit slower. Back to the downside, this zero point mark right here and it may stop somewhere in between. When it hits the 88.6 mark, it's going to be a slow move back to the downside. Okay? And if you're not you treatment to what can be used on both down trends and uptrends. So if you want to take the art driven auntie pretreatment tool and course, let's say we wanted to see a pronostica retracement on an uptrend go from previous high. So the top low. So in this case, it's going up, and we're looking for the reversal back to the upside. So it comes down. It breaks 38.2 rate. Where you here? 30.2 mark. And it broke. You coming down Broke 50 Broke 61. It created on new candle right here. Okay, this is the new candle, but it created above, or in this case, below this line Ah, whole new candle instead of the week just barely coming through it created a whole new candle below the line and that lets you know the price is gonna continue falling in which it did okay, respected the Fibonacci line, and it continued falling down to the what? The 80.6 mark. And what did I say If it hits the 80.6 mark but doesn't make a line in this case beneath it , it's going to reverse slowly, back to the upside. And what did he do? It hit 80.6 mark and slowly reversed Back up, back up, back up until it restarted at 23.6 and then continue coming down. It's gonna continue making its way back. Oh, following the pattern. So in this case, it hit the 38.2 mark, and it hasn't made a candle over yet. Okay, the week is going through the line, but it hasn't made a brand new candle. So in cases like this, you'd wanna wait. Okay? Trading is all about patience. It's not always about trading. Trading is both annoying. Went to trade and when not to treat. So in this case, you have a definite answer as to whether or not it's gonna hit this line and respect it and go back up this way. Or if it's gonna break through, make a new candle, blew it, and continue falling down to the next level. Okay, So one thing I also want explain to you guys here when you're placing trades, there's something called a stop loss and take profit. A stop loss is going to close your trade, okay? And basically minimize your losses depending on the point price point that you said it at. If you set your stop loss here, right, because you put in a sell order and you're predicting the price is going to go down. So you put your stop loss here at the line. If the price hits this line, it's gonna close your trade for you. So you don't continue losing money because if it hits this line, that means it's going in an uptrend. It's going up instead of down like you predicted. And then your take profit would be somewhere down here, okay? And that's the price that the market's gonna hit when he's gonna take the profit from the trade and close it for you. Your money is not continuously at risk. But regarding the Fibonacci lines, we see that it respects Banacci price level was depending on the line that would you? Here, right here. It hits. He respects and reverses back to the upside. That's gonna be it for now. Regarding the basics of the Fibonacci tool. I'll see you guys in the next lesson.