The Ultimate Trading Course | Profitable Crypto Trader | Alex Winkler | Skillshare

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The Ultimate Trading Course | Profitable Crypto Trader

teacher avatar Alex Winkler, Consistency is king

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

48 Lessons (7h 58m)
    • 1. ProfitableCryptoTrader

    • 2. Intro | Welcome

    • 3. Intro | What To Expect

    • 4. Intro | How Much Is Required

    • 5. Intro | Have A Goal

    • 6. Intro | Morning Routine

    • 7. Intro | How To Create A Watchlist

    • 8. Intro | Join Our Community

    • 9. Setup | Exchanges

    • 10. Setup | Avoid Fees (Maker vs Taker)

    • 11. Setup | Accounting

    • 12. Setup | TradeJournal

    • 13. Setup | Always Be Reviewing

    • 14. Setup | Trading Charts

    • 15. Day Vs Swing | Trading Day Trading Overview

    • 16. Day Vs Swing | Swing Trading Overview

    • 17. Day Vs Swing | When To Day Vs Swing Trade

    • 18. Indicators | Price & Volume

    • 19. Indicators | Support & Resistance

    • 20. Indicators | Moving Averages

    • 21. Indicators | RSI

    • 22. Chart Patterns | Why Chart Patterns

    • 23. Chart Patterns | Building Your Chart Pattern Library

    • 24. Chart Patterns | Developing Your Style

    • 25. Chart Patterns | Support Line Bounce

    • 26. Chart Patterns | Breakout Bounce

    • 27. Chart Patterns | Breakdown Bounce

    • 28. Chart Patterns | Waterfall Bounce

    • 29. Chart Patterns | Stair Stepper

    • 30. Chart Patterns | Exponential

    • 31. Chart Patterns | Ascending Channel

    • 32. 7 Trading Commandments | Why Trading Rules

    • 33. 7 Trading Commandments | 1. Safety First

    • 34. 7 Trading Commandments | 2. Trend Is Your Friend

    • 35. 7 Trading Commandments | 3. Chop Is Not An Indicator

    • 36. 7 Trading Commandments | 4. Let The Trade Come To You

    • 37. 7 Trading Commandments | 5. A Bad Strategy Is Better Than No Strategy

    • 38. 7 Trading Commandments | 6. Aim Small Miss Small

    • 39. 7 Trading Commandments | 7. Meat Of The Move

    • 40. How To Enter And Exit A Trade | Combining Everything

    • 41. How To Enter And Exit A Trade | Depth Chart & Order Book

    • 42. How To Enter And Exit A Trade | Entry Strategies

    • 43. How To Enter And Exit A Trade | Exit Strategies

    • 44. How To Enter And Exit A Trade | Relax And Don't Get Emotional

    • 45. Investing & Long Term Growth | Defining Your Goals

    • 46. Investing & Long Term Growth | 3 Must Know Markets

    • 47. Investing & Long Term Growth | How Long To Hold Inv

    • 48. Investing & Long Term Growth | 5 Things To Do Next

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About This Class

For people that really want to dedicate themselves to truly mastering trading crypto, you can now learn everything I do.

This is for anyone looking to improve their trading or who is completely new to either markets or crypto. We will be covering everything from the very basics to advanced trading strategies. I’ll also be taking it a step further than most other programs and share everything that I do; before, during and after to give you as much real-life exposure as possible.

Prepare to immerse yourself in video lessons, real-time trading videos, trading courses, chart pattern libraries, and giveaways!

You will have access to all these resources for a lifetime. This will allow you to improve at your own pace and give you the ability to return at any time in your trading career.

The end goal is making you truly self-sufficient and consistently profitable; the best part is that although this course is focused on the crypto market it can be applied to all markets.

- Alex Winkler

Meet Your Teacher

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Alex Winkler

Consistency is king


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1. ProfitableCryptoTrader: Hello, everyone. And welcome to the profitable crypto Trader course and my trading desk. This is where all the magic happens. This is where I do my weekly trade reviews every Monday at 8 p.m. Eastern standard time. Right there is the webcam. I do. This is where I capture all of my trades live before, during and after. So we can all review them as a group in the private discord chap. For those of you who don't know, my name is Alex Winkler, House and equities trader. So I traded stocks. Why lived in New York City for around three years before I moved back to Florida and grew? This company ends low with my brother. Now Winslow is a software marketing company, and we actually grew the company by running to affiliate networks and building software marketing tools. However, on the side, my brother and I have always been doing our hobbies. I go, for example, loves fishing. He has a whole entire channel about fishing, and I continue trading on the side. We eventually thought, Why not put all of our skills with Enzo all our Web design skills with Enzo and our hobbies together and that is when this course was born. I started trading Cryptocurrencies about 2.5 years ago in the beginning of 2017. It's actually funny. I didn't start trading Cryptocurrencies to really make money off of it. I was buying and selling crypto currencies to pay out our clients because right now we pay over 70% of our clients in Big Point because it simply is easier to do. And there's less restrictions than when you use something like PayPal or wire Western Union . However, I actually decided to apply a lot of my equities trading strategies to the crypto market, and I was able to consistently grow our fun right now, averaging about 11% per month account growth, which is huge, especially because we are in a bear market. So if you've been falling any my videos, you know I am super stoked for a bull market. But right now I'm loving it because there's just so many training opportunities. Even though the price keeps on going down, there are amazing swim trades and day trading opportunities. So now, for the first time ever, I want to share everything that I have learned over the last six years, trading stocks and two years training crypto. Right now, this course has 49 videos, and I'm gonna continue adding videos every time I learned something new or you guys have any questions? We recently launched this course on March 31st in 2019 and we got over 100 new students the first day. So you know, this course has been tested. We also have a very active discord private chat group where everyone could throw on their trading ideas and review it together as a group. So we can all learn from each other because everyone comes from different backgrounds and has different things that they can offer and bring to the table. So this course has eight sections, and it will take you from a complete novice to an experienced trainer that should be able to trade consistently profitable all on your own. However, we are all students, including myself, and although this course will give you a nice framework to build upon, I wanted to grow with you and also be a constant resource for you to come back. Teoh and you'll have a place to constantly throw your trading ideas into and get instant feedback from our private trading chapter. That is why, when you get access to this course, you don't just get access for a few months, but you get access for a lifetime because I love trading, even though I've only training for about six years and you're gonna learn everything that I've done the good, bad and ugly. You are also going to be able to benefit from everything that I will learn in the future. And I don't plan on stopping trading any time soon, so I would love to see you on the inside and grow with you throughout my trading career. I understand when starting something new it could be kind of scary, especially something like crypto and finance put together. But really everything that I teach, I have tried to break down an extremely simple way so you could really grasp it and then be able to trade consistently profitable right off the bat. I believe you can get through this course within 2 to 4 weeks, but at the same time already start applying your skills to the market because there's no better teacher than experience. However, I do believe that having a framework before going to the market is really important, and this course will help you set your expectations and having its strategy for any type of market. If it's a bear market or if it's a consolidation market or if it's a bull market, you're gonna be able to look at any chart and instantly have an idea of if this is a good trading opportunity or if this is something that you should kind of let be. By learning from my mistakes and successes, Michael is to reduce your learning curve so you can get into the market quicker and become consistently profitable even faster. The great thing about trading and the method that I'm gonna be teaching is that it doesn't just apply to the crypto market, but it applies to all markets. It's a lifetime skill that you will be developing and will be able to use again and again. One of my favorite things about trading is the fact that it gives you total freedom. I'm actually right now in Berlin, where I live part time and all that I would really need is my laptop and I could do everything from it sometimes I'm eating. Just training for my phone. And the way I also teach is since I have such a busy lifestyle, So I'm always traveling. I'm working on pencil of the company and doing all these other things, so I really don't have too much time for trading. So I like to teach a method that fits everyone's lifestyle, and all you need to do is be able to check the market every now and then and identify patterns that we're gonna be teaching in this course and then place orders ahead of time. A lot of the trades that I actually do. I'm not even on the computer. When the trades actually happened, what that means is, basically, I look at the market in the morning. I make my watch this place limit orders, and then throughout the day, those limit orders get executed, and there's nothing like waking up in the morning and seeing you just made 300 bucks guys. Michael is to make this course one of the best online courses, and resource is when it comes to trading crypto currencies based on chart patterns and very simple indicators that anyone can understand. It's one of the cheapest courses that you're gonna find out there. And the reason I did that is because I want to grow community where we can all learn from each other. And I don't want to restrict the access to anybody. Let me finish up this video with giving you guys a quick overview of what to expect out. This court's so right after you enter your name email below, you're gonna go to the check out page where you can enter your information and create your account right away. Once you complete the check out, you're gonna go to the thank you page, which is going to have a little introduction video on a few little housekeeping things that I want to go over beforehand. Right after that, you're going to get the link to the private discord trading Chapman so you can join it and introduce yourself so we can all get to know you and say hello. Remember, guys get the lifetime access to this course and I plan on training for a really a really long time. So, no, that this course is only getting better. So although I've been trading for over six years and have been able to grow our account by his study. 11% in a bear market. I'm still just a student myself. And like you, I'm always going to be learning something new. Therefore, you could always be expecting new information and new videos that apply to the current market. Now, we all have different goals. Maybe you're looking to become a trader or investor, so you can start building a safe nest egg. Or maybe you're looking to be a bit more active and aggressive and potentially great an additional revenue stream, whatever your goal is, my goal is to make you a completely self sufficient and consistently profitable trader so you can reach your goals. Actually, a lot in the introduction. Serious videos. We're gonna talk about goals and talk about the best ways to achieve guys. I really can't wait to see you on the inside, especially in the discord trading chat room. There is so much to learn and there is no better time to start then today, So I will see you on the inside 2. Intro | Welcome: Hello, everyone. And welcome to the inside. This is the profitable crypto trader course. And by now, I assume you probably already know who I am. But if you don't, my name is Alex Winkler, and I'm gonna talk a bit more about why I'm teaching this course and ends low and all those fun things. But for now, I simply want to say Welcome to the course. There's just there's so much to talk about. I really can't wait to get started. Um, getting started is the hardest part. Why? I like to say it's like half the battle. Actually, a lot of people say that, but it's true. Getting started is roughly half the battle. The other half of the battle is consistency, and we're gonna be talking about consistency a lot. This is gonna be a very hands on course, and I think you probably do the course and maybe a week or two, or maybe a month, depending on your rate. There's a bunch of videos and it's always gonna be growing. But for now, there is a few things I want to kind of touch on a little bit of housekeeping, so to say and I have a few notes. I didn't have these little things written down everywhere because this is gonna be a somewhat unorthodox video recording and in general course, So there's gonna be zero editing in this course. I did a little bit of math and it typically takes me, you know, 123 hours, typically more on that three hour side to do some video editing on like, let's say, a 2030 minute video. I don't know. Maybe I'm just slow at it. Maybe I'm not good at it. Whatever the reason is, and this course is gonna be between. Right now, there's 47 videos planned, but by the end of the year, I'm guessing between 50 and 60 videos. And if each video, it takes about three hours of editing, not to mention the filming and uploading all that stuff, that would be about 100 and 50 hours of of editing time. And I don't know about you. I don't know who has 150 hours in their day to do editing. That's about, you know, 2 to 3 weeks working hours. So that's that's huge. And although I don't really mind the work and I was actually excited for it. I was thinking that it would be more beneficial. Teoh everyone. And at the same time, the gains of editing a video are marginally tiny. There's there's really no huge gains. Besides, maybe a few like ums and UHS and things like that that I usually edit out any way. I want to focus more on building the community, putting my energy, and they're getting the launch ready, making sure all that stuff is good. So I want to give you guys a little heads up, that these air all gonna be unedited videos, which is actually also very exciting thing. Because with crypto trading and just trading in general and this course and everything that I do, my number one thing is transparency. I want to be as transparent as possible. And what better way to do that, then, starting with these videos completely unedited, right? Well, I don't know. I hope so. Um, let me see through my notes quickly. See if there's anything missing it. Not really. I think we can move on to the next topic. And the next topic is really the fact that I want you guys to be consistent at this. So you started. This is the first video that's huge. I'm really stoked about that. But this is just where the learning began. So for now on, I want you to dedicate maybe around an hour a day minimum to your trading education. So the momentum continues and you can really kind of excel and not have it, you know, die off in the corner and then think, six months later, Man, I wish I actually did that or, you know, there's a bull run going on. I wish I had learned a little bit more about trading when that happened. The bear market is the best time to learn. I don't know when you're seeing this. If we're in a bear market or bull market, what's going on? It's always a good time to learn. But when the market is slow, it's even better. So let's see. Oh, yeah, So we're gonna talk about a lot about, you know, skin in the game. And you know how much you should start with? We're gonna cover all that in upcoming videos. I don't want to make this one too long, but I'm gonna talk just kind of give you guys a scope that this this course or to be to become a consistently profitable trader And that is my goal. To teach you how to become a consistently consistently profitable trader. It's gonna take about 3 to 6 months. I would say maybe a month on the course and then really another two months in the trenches , learning, trying and then kind of perfecting your art. And by then, hopefully we'll be able to put a I would say, a winning strategy into the back of your head. So you're just always ready to go. Let's see if there's Oh, yeah, my background eso I was an equities trader agrees is just a fancy word for stocks and all that. Those things, though, trading, you know, Apple or are those any company any publicly listed company on in exchange? Anyway, that's what I did for about three years when I lived in New York City. I'm not gonna talk too much about that. You could probably find it on Instagram. I talk about it all the time, er, you know, something like that. But I eventually slowed that down, right? I kind of pull that back a little bit. Not because I didn't like trading. I love trading, but I had for those. Most of us probably know this, but my brother and I, we have a company enzo dot com, and that is where I put all my energy into. Eventually, I became kind of the CFO Ford. It's a marketing and software company, so you see some books behind me. It's, you know, python ai all that fun stuff coating a huge marketing company. We have an affiliate network, so there's all these different things that I really do as my main job, and that's kind of the bread and butter. However, trading was always my baby, so it was actually pretty funny. Eventually, our companies started doing payouts in crypto currency. Because places are, you know, processors like PayPal don't always allow you to send money to certain countries or there's restrictions and yada yada, and also in your account gets banned for God knows what. So we actually migrated suits paying. Our our clients are affiliates are contractors in crypto currency. And to do that, I obviously had to buy and sell crypto currency to send out payments, and that's when I got really excited and I was like, Wait, weaken, trade this just like any other stock. And I started applying my old equities trading strategies to the crypto market, and I was actually able to consistently grow our fund. And that's when we more or less put together a riel on his little crypto fund. And I've been growing that for about two years now, a little over two years, and I'll talk a lot more about that later and consistently to help this course. But I just wanted to kind of give you a little scope of where I come from or where my education came from. I also studied a lot of other traders, and I document everything that I do. So for the last I would say 2017 2018 specifically in the crypt, a market, I was able to combine a lot of my knowledge of other people knowledge traders I used to follow or learn from. And then, you know, put all that together in this course. So this is just gonna be one jam packed action course, and I really can't wait for it to start. Here's a question I get actually quite often and is, why did I start teaching trading? You know why? Why don't I just trade and make my money that way? Well, teaching trading isn't really how I would say I want to make my money. It's more about a It's something one. It's kind of personal for me. I think teaching is the best way to learn. And if I can successfully teach how to other people to or teach other people how to become a consistently profitable trader, then I will not just learn a lot myself. But I will also form a community which we're gonna get to really soon. I want to form a community where we can bounce off other trading ideas. And, you know, I just have a lot of people looking at the market because, you know, you always learn a lot faster in a group, and that's that's another thing I'm trying to create. With this course, I would say 1/3 thing is no since Ends Low is a software marketing company. Haiku and I had so much experience. I mean, I've been building websites since I was in high school and and basically I didn't want to throw away all that knowledge. I just kind of wanted to come behind it somehow. So I thought I could build a course. I could make a offer in our affiliate network, and I could put all these no marketing tactics into it with High Co. And then, you know, there's all these different things we can do with it. So that's another reason I wanted to build a course. So really just kind of encompasses everything that I do and love. And yeah, that's what it's all about. I think that's e think that's everything I want to talk about in this video. I already forgot. The next video is going to be, but I will see you on that one. So just marked the complete button. There might be a quiz. I'm not really sure, but yeah, I'll see on the next video 3. Intro | What To Expect: look at you making all this progress. Welcome to the next video. What to expect? Like the name says this video is gonna be a little quick, one that gives you a nice little overview about what you're going to see inside this courts and a little out say rule of thumb is all these lessons on the outside. So introduction, set up indicators, start patterns, those things. They're all kind of modular, so they're all independent from each other. However, there is a bit of sequence, and they all do, in a way, fuel off of each other. So if you're completely new, I would watch it completely in order. And it's gonna give you a much better idea of, you know, where you're at, what's next, what you should know already and those kind of things. So sequential is definitely the way to go. But if you do want to kind of dive into a random a lesson if you feel like you're ready, go for it. Worst case, you just have to take a few steps back and you'll eventually be ready for that lesson. Eyes there Anything else? I want to talk about the set up section is actually gonna be really cool. We're gonna talk about a lot of fun stuff like Let's see exchanges. And here's a big one avoiding maker and taker fees. I love this topic. We're gonna dive into that pretty heavily. It just, you know, everything from accounting to journaling, Teoh charts and all that fun stuff so you can see how that section is. You know, it's very independent from the other ones, and all the other ones kind of follow a similar pattern. Another thing that I want to talk about, which I kind of hit it on in the last video is this. This course has right now 47 videos fully outlined. However, it's probably end between 50 and 60 which means there is a consistently growing a library in video library of courses. So that's gonna be really interesting, Teoh. You know, I always check back, see what's new. I'm gonna have everything in the discord trap, which I'm going to share with you in a little bit where I release all the new video so you won't miss any there. Also email everyone when a new video gets released after March 31st that is, um yes. So constantly new videos there may even be, for example, a video like no version two or a bunch of questions I received about this video. Let me make a follow up videos. There might be a few videos like that. So I left a little bit of room for growth. The last part is, hands on. Expect that. I'm gonna ask you to do things I'm gonna ask. You do a lot of things, so be ready for that. It's going to get a little crazy. Um, all Well, obviously, this is a training course, and I want you to become a consistently profitable trader. And to do that, you're gonna have to set up accounts on exchanges. You're gonna have to, you know, start practicing. You're gonna have to do a lot of things if you really want to become a consistently profitable trader. Because in the end of the day, I can Onley teach so much. I can only show so much from what I've done. But in the end of the day, it's gonna be all onto you, toe, actually. Get in the trenches, check out the charts constantly. Be learning. Make some mistakes and learn from that. So that part is on you, my friend. I think that is everything for this video. So let me try to stop it correctly this time. 4. Intro | How Much Is Required: Welcome back, everyone. So in this video, we're gonna be talking about something that I'm sure you've thought about yourself. And that is how much is required to start trading and specifically crypto trading, because it's definitely different than equities trading in a few regards, and I'm gonna talk about some of those right now. So the 1st 1 is low fees to no fees, which basically means when your trading crypto currency there's actually a bit of a ratio on how much your fees, and it's typically 0.1% off your entry amount. To put that in perspective, typically with equities you trade. I don't know between five and $10 per entry and exit. So if you're if it's $5 let's say for a fee, then you're paying $10 around house. Basically, you pay $5 to buy $5 to sell, and you're left with basically $10 off commissions. After a a successful trade, and with crypto currency, it's typically 0.12 point 03% and it kind of goes into the same ballpark when you're trading with about 5 to $10,000. However, the problem arises when you trade more than that or your trading quite often. That's when you want to start avoiding fees because they can really eat up your account. And there's a really cool way to do that. One is you do enough volume and a lot of exchanges eventually charge 0% commission. The other way is you find in exchange that right off the back charges is Europe Percent Commission, and we're gonna actually talk about some exchanges that I use that charge 0% commission. And it's amazing way to start learning to trade because you could trade with a very small amount or high amount, whatever you prefer and and basically not have to worry about giving money away in commissions. And that will allow you Teoh close out of trade and break even, Let's say, getting in out the same price and then losing no money on commission. So that's that's a really cool thing about crypto eso. That's one thing to keep in mind. The other thing is there is no pattern a day trader rule, and if you have any experiences with our any experience with trading equities, you will know that if your account is under $25,000. You are only allowed to make three roundhouse trades per week or five business days. Again, a roundhouse trade is an entry and exit. So by in a cell that's one roundhouse trades trade. So you really have six trades in general, as in, you could buy six times or something like that. Um, the big thing to take away, though, is with Cryptocurrency. There is no pattern day trader rule, so there is no reason that you can just, you know, start 100 bucks there. Zero fees, right with the red exchange or a low percentage. So it's It's completely fine and there's no pattern. Day traders rule. So just with even $100 you could actually start trading crypto currencies. And that's a really cool benefit. There's actually massive other amounts of benefits compared to trading equities, and I want to probably make a whole entire video on that alone. So I want included in this video, since this is specifically focused on how much is required. So let's do a quick recap. There's no fees or low fees, and that's huge. You could never take $100 start trading equities because, Well, actually, maybe you could, because there's a few brokers nowadays, like Robin Hood and um, kind of more modern brokers that don't charge a high commission, they charge, and other things like marketing and using your account data for other purposes. That's a whole different debate. So in theory you could trade equities for maybe $100. But typically, a brokerage firm, especially one that offers a good trading platform, will charge 5 to $10 commission for trait, So it's not really worth trading under $100. Both Cryptocurrency Ah, $100 is completely fine. The next thing is, like I said before, there's no pattern day trade rules, so you can trade as much as you want right out of the gate, which you can debate is a good and a bad thing, since a lot of teachers or I would say people helping other people get involved in trading , say the Pattern Day trade rule help students not get too aggressive and over trade. However, I was found to be a bit of a nuisance and finding myself doing weird things like opening multiple brokerage accounts or opening an account offshore to try to circumnavigate that rule. So I like the fact that I have the freedom. If I over trade, it's my fault. And it's not, you know, the government telling me I could only make three trades. I never like that. So, um, that's too big, Awesome perks. Before I move on, I will say that any less than $100 might be a little deteriorating in your I would say motivation. It's kind of like a game of poker with your friends. If you trade with $0 or if you play poker with, I don't know, some made up currency, and all sudden it becomes a little boring. Nobody really pays attention, but you'll find that even if you say you know the buying this $5 or $10 all of a sudden the game becomes a lot more interesting. And I think that's how you should maybe treat your crypto trading education. You know, put in $100. Don't put in any more that you could lose, obviously, but I would say it's safe. $100.2000 dollars for his starting amount would be a really good idea, and that kind of brings me to my next point when you have a smaller amount of money in your trading account, you can also you might in terms of percentage gains. You might not be able to make his much profit, but you also be able to lose a lot less money. And with Cryptocurrencies, there's a lot less regulations. Eso you don't want to make a mistake and also lose, you know, $1,010,000. So you want to avoid that. There's nothing wrong with trading for, you know, a couple of months with only $1000 getting trying to get as many mistakes out of the way as possible and then growing your account from there, even either naturally by trading or, you know, moving in another $5000 or $10,000 or whatever you feel comfortable with trading. Some question I will probably get is how long will take me to go from, you know, $100 or $8000 to a $5000 account or a $20,000 account. And I'm gonna tell you right now there's there's so many variables, but this course, ideally in 3 to 6 months you should be able to be a consistently profitable trader, so that's basically making 50/50 percent of your traits are successes, so wins and then also being able to mitigate any losses, so your losses are also smaller than your gains. So even if you were trading at exactly 50% win and loss or issue, you'll still be making profits because your winds should always be much bigger than your losses. We'll talk about this a bit more in the future, but our risk reward ratios, typically of 1 to 3 ratio. So if there is a, um, you know, 3% downside, the upside should be 9% so 1 to 3 ratio. Just keep that in mind. We'll talk about in the future a lot. Let me see if there's anything else I want to review your first year in general. Maybe a little bit shaky. Yeah, maybe in 3 to 6 months you are consistently profitable, but maybe that you still haven't really found your group like you kind of figure out what works for you. You found a few patterns that you really like and are always profitable. But I would say after the six month mark. You're definitely going to be able to start fine tuning things. And things are gonna become a bit more second a check. And that's really where it gets fun. So one thing I want to talk on highlight on more than anything is consistency, right? This is just the very beginning. But if you stick with this week after week, you're gonna be getting a better every week, and you're the key is to always be learning. Always be absorbing knowledge. That's what the communities for. We're gonna be getting to that really, really soon. But the next video is actually going to be about goals. And a good way to limit your downside is by setting very realistic goals. So let's talk. Let's, uh yeah, let's get ready for that move video, and I'll see you there. 5. Intro | Have A Goal: Welcome back, guys. I don't know if you noticed, but the 1st 2 videos were a little close to a script to the screen, so I moved the camera back just a little bit. So I hope that's a bit more comfortable. Anyway, um, this video. I want to talk about why it's important to have ankle and not just why it's important to have a goal, but what kind of goal should you have to help you become a consistently profitable trader? And this is a mistake that I actually made. In the beginning, I had a gold. I was fixed on a specific number and my count size was still relatively small at the time. And to hit this number, I would always take bigger and bigger risks, and that actually paved the way for huge mistakes. So I want to make sure you guys don't make the same mistake and simply, um, basically, we're going to focus on making it a goal. That is percentage based to avoid having kind of a foam. Oh, mentality, thinking all the time I have to reach my goal and it's really kind of too high. And that is not the way we want to play, So having a percentage base goal is going to allow you. Teoh focus more on making good trades. So what we want Teoh kind of get at is, I would say between three and 5% especially when you're just just starting off. So let's think about that for a second. If your account is at $1000.5 percent return per week would give you $50. So it sounds a bit weird to say, I want to make, you know, $50 a week trading That doesn't sound too great. But as your account size gets bigger, Um, all of a sudden let's say you're trading with $10,000 then 5% will yield you about $500 So that is when things get a little bit more interesting. So instead of trying to get more out of each trade to hit that $500 you simply focus on keeping a consistent weekly return from 3 to 5%. Maybe even more 7% 10%. I would go to too aggressive with that number because that's that again is going to make you want it takes me trades that are a bit too risky. It's all come. It all comes down to being very consistent. So let's say you make 5% a week. That is, at the end of the week, a growth of about 20%. Hedge funds. Nowadays you get super stoked with a 20% growth mutual funds, 20% growth per month. I mean, that's just unheard of. You'll get lucky if you know they have a consistent growth of 10% a year. So so focusing on 5% a week is a really, really good start. And that is what we're gonna look into if you sometimes undershoot it. Don't worry it all. Even if you make 1% a week, that's amazing. The last point I want to get at is the number one rule is risk and management and not losing money. So we're gonna actually talk about that a lot in this set up because we're gonna be setting up our trading rules. So I won't talk about that too much right now. Just remember, as long as you don't lose money, you're doing something right. So don't ever stress out that your account is not growing fast enough or something like that. Right now, it's all about absorbing education and learning and all that stuff building experience, so little recap. First, make a goal that is percentage based out of pure ease. We could use a 5% and kind of keep that number to make everything a bit more simple. Then, if you want to make instead of $50 a week and let's say you want to make $500 a week, you can focus on growing your account size from, let's say, $1000 to $10,000. And that is how we're gonna hit bigger numbers. If you want to hit, let's say $500 right out of the gate, you're not going to be entirely sure on what kind of account size you need. How much to enter with the trade, you know, should I? You know, if I want to hit 500 a week, can I trade was $1000 maybe, but then your returns would be at 50% at week, and that is getting extremely risky, and it means you would have to take a lot of risk, and it means you're basically gambling if we're going to stick to 5% weak, it means you're taking very calculated trades, and it's actually something that is very possible to do. I do it again and again every week. So that is what we want to teach you, being consistent, making your goal percentage base. And if you want to make more specific number per week or month than focus on growing your account size, but maintaining that 5% goal account growth goal. All right, that's everything for this video. I will see you guys on the next video. 6. Intro | Morning Routine: Welcome back to the next video morning routine and premarket morning routine. So first of all, before you trade, before you do anything, you always want to be in the right mindset. One of my biggest things I like to say is don't trade drunk, Don't trade tired. Don't you know when you're tired and you first wake up? You're delusional, You're groggy. You have to remember that crypto is a 24 7 market. So there really is no such thing as a pre market I used to really like when I traded equities. I knew at 9 30 the bell would ring ding, ding ding. And then you would know that for the next, you know, our would be pretty focused and be trading. But with crypto currency, it's 24 7 So you have to remember to put yourself first and be level headed at all times. The fact that it's 24 7 isn't really a bad thing. It's actually a really amazing thing. Once you figure out how to make it work for you. You know you live your normal life. You don't become crazy. You don't check the market 24 7 I mean, it's good to be on top of the market, but you simply figure out when the time of the day that the market really you know, rocks and you just kind of make it work for you. And it actually can be more relaxing because when you're trading, I mean, when you're traveling, you can really make the 24 7 work in your favor, and you're not always stressed about a certain time period. So I actually over time really started, preferring the way the crypto market trades. The next thing is first, not the market. So I just had to read one of my notes. I didn't really get it just now, anyway. So the right mindset, that is the number one advice, the way to get into the right mindset is have a good morning routine. It doesn't have to be very long, and it could just be a little bit of something. I'll share my morning routine, and there's actually let me share my morning routine first. Then I'll talk about this little note I made when I was thinking about it. Anyway, I typically wake up when I'm fully in schedule, and I'm back at home if it's in Berlin or Florida or Red wherever that is, I like to wake up around 6 30 drink A You know, some water, make a T whatever it is. And then by 6 45 I'll typically have my watch lists out and ready to go. So I I place alerts. I check. You know, I checked my limit orders. Maybe I'm making a an exit order because I was executed overnight. Um, check my stop losses. You know, make sure everything's right and just check the market. I go through, you know, BTC, USD, shorts. I go through bt c, check my favorite Alz. So that usually takes me around 15 to 20 minutes, depending on you know how behind I am or you know how much the market moves. Typically, it goes much faster than it sounds. Once you have that pretty locked in, then around seven 7 15 I like to do a very, very quick work out. This is not my main work out, but it's a little bit to get the blood flowing. You know, it could be like 50 push ups, some sit ups a little in, you know, five minutes Circuit Nothing crazy, but that is kind of a nice way for me to get started. And the next thing I like to do after that. So right now I already have my glass of water. I have the watch list out and published. You probably get those push notifications sometimes if you sign up for him. When my mark that watch this goes out. I have my little workout in already. Now I like to work on my journal. I like to just throw down my thoughts on paper so I don't have it in my head anymore. It gives me a lot more clarity and focus for the rest of the day. I'll talk a little bit about clarity in a little bit. And then, um, I like to also go through my my Russian notes. Sometimes I'm, you know, studying a little side thing. And right now, actually, the one thing I'm studying is my little my little Russian, So I like Teoh. You know, do another 5 10 minutes of just kind of going through those. That way, I get it out of out of the way and maybe I'm gonna come back to that and study that a little bit later. But it kind of creates consistency, right? Every day I do that for a little bit. In all of a sudden, I can count the 10 Russian. I'm not gonna do it right now. Anyway. So after that, typically, um, I have breakfast for roughly 30 45 minutes. I'm pretty slow eater. Um, I don't mind that I enjoy the downtime when I eat. Then I'll shower on typically by then, You know, 30 minute I do take their, like, shower, getting dressed, Baba blood. It usually doesn't take 30 minutes, but I like that a lot these time frames into 30 minutes and yeah, after that will usually be around 9 a.m. And I'll be pretty ready to work. And I typically answer emails and Skype and just kind of check up on everything, make sure it's good. And after that, I typically focus on a very big pending business issue. Usually something with vice offers our affiliate network or with ends lower, you know, just something. So, by by the time it gets noon, I'll have everything really done on my end. If I'm in Europe now in another two hours, America will be waking up and it will be really nice, because by then I'll have huge clarity on my end. I'll be really relaxed. I'll have all my little kind of to do things done. And I can really you know, either go outside, go explore goto a coworking space work with the U. S. Team or whatever I'm doing. But I'm not thinking about all those things that if you wake up late, you're gonna be thinking about you're always gonna feel like you're rushed, so you don't want to feel that way. And my morning routine has always changed a little bit, depending on what my focus is since my focus now is trading my has you noticed building my watch list is basically one of the first things I do in the morning. Because if I don't build a watch list in the morning one, I don't have a good grip on what is happening in the crypto market. And two, I get really anxious. I'm like all men like I need to check what's going on. So I like to get that out first thing in the morning doesn't mean I'm trading, doesn't really mean anything. It just means I'm looking at the market. I realize what's going on, and I'm able to kind of calm myself down that way. So that's really important. The little note I wrote and I don't want to forget is if you'd never heard of the concept of a morning routine. Check out Miracle Morning by how L. Rod actually read this book about 45 years ago, and it's really, um, well, the message is pretty straightforward. It's basically how to make your perfect morning and why it is beneficial. I don't want to give it all away, but I guess it's pretty transparent and black and white what the book is really gonna help you with, anyway. I definitely recommend reading it. It's a good read, and it really, I think, will benefit you in the short term and long term. So is there anything else that I want to talk about? I think, yeah, I think that's everything. So I will see you guys on the next video 7. Intro | How To Create A Watchlist: Hello, everyone. And welcome back to the second to last video of this lesson or these lessons way would that be the introduction lesson? So I hope this is still the second last video, unless it's not. Which means I was messing around with the order of videos after I created the course. But if it is, that's good news. Means I stuck to my original plan. Anyway, the congratulations for making it this far. This is actually a video that I had a really hard time deciding where I wanted to put it. Should I put it in the set? Of course. Because in theory you're setting up. Actually, we're gonna talk about a few things that you might want to set up. But I ended up putting it in the introduction course because it it actually flows very well with the second video on joining our community or the last video joining our community. So I figured, Why not put it up now? And also it does not hurt to actually try to make your own watch us today. So let's dive into that right now. The first point I really want to talk about and I know if I said this multiple times because it's so important is consistency. You want to be consistent when it comes to trading. What? Really, When it comes to anything in your life, if you're consistent, eventually you're gonna understand it. And eventually it's gonna, you know, make sense for you, and you're gonna be able to really have fun with it. When you start anything for the first time. It's always more confusing, so simply by, you know, doing a little bit every day. You're eventually gonna get the hang of things. So that's why I kind of wanted to get that little consistently point out for you again and take a quick little swig of water. Okay, the, um yeah, Actually, the thing we should dive into right now is if you go to the bottom of this page you're watching the video on. There's gonna be a little link. It's enzo dot com, ford slash journal. So if you click on that, you're gonna open a Google doc, and this Google doc is something everyone has access to, and it's a very simple place for you to start building your own journal. Now. You don't have to build it here. You can buy a tangible physical book and put your journal in there. You could kind of you could do whatever you want, but I figured it as a very basic way for you to get started making your daily trading journal. Why not just use Google docks? You can access it from anywhere. And Google docks is simply a lifesaving. I love it. Eso Let's dive into that right now. Let me see if I can switch on over without breaking anything, uh, due to do. I don't know why it's not switching. There we go press the right hockey. So here you can see a quick little overview of my trade journal and these are all months as a quick overview. What's the word? I'm looking for your insert yet Table of concert content. This is your table of content. You can quickly get anywhere you want in the journal by clicking. Ah, you know, on that link. Anyway, the first day is where you can write anything you want. You could say you know, I made a little example. Markets down today, 10%. Maybe the markets up to date. 10%. Really, It doesn't really matter. Your text goes here and then simply for the second day, like you see here. I just put a second, and then you could, you know, write whatever you want. I made this format really simple. So it allows you to, you know, have freedom to try different things. You shouldn't focus so much on trying to make something perfect as much as just write anything down. Look at some charts, write how you feel. You're gonna actually learn to help this course how to really do watch lists. So right now, I want you to focus on just opening this, making this your own and really kind of just getting started, because that's what it's all about. So to make this your own make this journal your own all you have to do, I'm gonna make this up because up just sounds so much better. Okay, so what you want to do to make this your own? If you don't already know, you simply goto file. You go down here to make it copy, and when this makes a copy, it opens the new tab. And now you have full ownership of the Google Doc. No one else can access it unless you share the link and you can start building your little journal. And it's a very simple format. It's actually the same exact format format that I use for my personal ah, journal, which I talked about everything on, um, it just really clean simple. There's no, you know, hardcore outlines or a structure which sometimes makes you get a little nervous or something like that. Yeah, very clean and simple. There's actually one more link that before we dive into, then no, wait, which we talked about next. I know we'll talk about next, and there's one more link. We might as well talk about it now, and I don't want to have a full on pitch here or anything. But if you want to see how my trade journals look every day I post on average five per week . All you go, all you need to do is click on the link at the bottom. It's crypto dot enzo dot com, ford slash student dash discount, and then you go over to a page like this in this page, you can see here you get my five morning watch less per week. You get a bunch of other stuff like weekly trade reviews and live trade reviews and all this really cool stuff. I'm giving it to you. If since you're a student for a whole month for free, you can cancel. It doesn't really matter. I just want you to see how it looks, how my watch this look. So all you do fill in your information here, you can create a password if you don't already already have an account, and then you just you check out you don't worry if you have a PayPal or whatever it it's all pretty self explanatory. Just follow it. It's free for the first month, so don't even worry about it. You could just cancel. I'm not trying to sell you anything, but I will do want to give you guys direct access to how my watch this look because there's no point in me explaining for hours about how you know the purpose and why. And all this stuff. Just see it in real time and start learning. Start building your own getting experience. This is gonna be a hands on course, and I want you to get as much experience right off the back. Who? This is what? My six video today. Some getting, like a little a little exhausted. I need a rebel or something. Maybe coffee. All right. Let's actually dive into a little watches today to give you guys a better example of how it looks. So I think this is actually Oh, yeah, it's all you have to do if you want to see what one of my watch this looks like if you just go to crypto dot co dot com, which actually was just this page right here. And then you wait forever for two page to load. You just go over, scroll down, and here you see everything that I do. And since I post typically one watch list a day, so five per week. So Business day right here you can see the top, the top watch list and just click on it. You can also see all my trades and everything kind of coming up, but we won't talk about that in this trader view. Anyway, you can now see the what the watches looks like. I like to talk about my last trade that I made yesterday kind of review that a little bit. Think about what went right, what went wrong. You can click here and learn a lot more about that specific trade. I'll talk a lot more about reviewing trades later. I think it's in less than three or something. I talk about that, but I like to document each and every one of my trades. You know, you can see the chart and all that fun stuff anyway. That's not important right now. Then, after I do a little bit of trade recap, I like to focus on what the market is doing. And typically, I talk about three things. BTC, USD, shorts. So what? What's the short interest on the market? That's something I'm gonna be talking about also later on. Right now, I just want to give you an overview over the watch This obviously. Sometimes I'll post a picture and show typical trend lines. All show support and resistance areas. I kind of I typically Onley post pictures. If it's may be really interesting or I want to share to the discord Private chat group or, you know, there's a specific thing I want to talk about, Um, but typically, I'll just write text the next thing I like to always talk about is btc. Andi. Talk about where BTC is, what it's doing, where the support levels are because just like how with equities or stocks. On average, they say, 70% or more of the stocks fall of the market, right? So if if the market is up and most likely the stock you're looking up looking at is also up . The same is true for the crypto market. Most crypto follow Bitcoin, which more or less is the market. Bitcoin at the moment has about a 51% dominance, so it owns 51% a little bit more than that of the whole entire market. Share off the crypto market. So let's say there's three currencies. Let's say there's three crypto currencies. Bitcoin would own half that, and the other ones would own, you know, roughly 20 What, 25% of that. So to give you a better idea of what I mean by market cap, basically how much money is in crypto right? The whole entire crypto spear of Bitcoin is 51% of all of that. Um, at least at this given moment in time, the next thing I like to talk about is old coins. I just kind of talk about what the all coins that I'm looking at are doing in general. Is there? Is there more interesting? All coins are there running blah, blah, blah. Eso I don't pay too much attention on too many ALTs I typically focus on, I would say a handful, maybe like the top 10 top 20. I typically focus on the light coin more than anything else because it moves more than anything else. And I love trading like coin. So I really like to focus on what I like in my watch list. So just because I do something one way and my watch list does not mean you need to do it in yours, you might feel like you're doing your watch list wrong or something is not right. But I guarantee you, if you're consistent with it over the days and over the weeks, you're really gonna have a flow for it. And sometimes you may might change your whole entire structure completely as well. There is no right and wrong when it comes to making a watch list. So just remember that no right and wrong. When I do look at the market, though, actually pull up a chart and I'm gonna talk a lot more about this and the set up. But when I like to build my watch list, I don't zoom. And I'm not looking on the one minute chart I'm typically looking in like the four hour A chart or one hour chart, and then maybe I'll zoom into the five minute chart for some day trading. But I like to get that bird's eye view for my watch list, and I'll kind of show you or show you what I mean by that. So I just pulled up the chart in trading view, and this is a charting system that I use quite often. It's actually my favorite one with cripple currency. We'll talk a lot more about this in the set up, but I kind of wanted to give you guys a quick idea what I meant by Bird's eye view. So right now we're on a daily chart with Bitcoin and let's say to get a better feel, let's go to the four hour and when you zoom into the four hour, you can get a better idea of what the market is doing based on, you know, some support and resistance lines I drew. Maybe if I wanted throwing an indicator. I usually don't use too many indicators. I like price and volume also be getting inside in the future. But I kind of want to show you guys some more hands on stuff right now. And, you know, it might have an indicator. So I'll talk about something like, You know, Bitcoin is approaching the 180 day moving average. However, there's big resistance above it. Based on these trend lines, the volume is receding. So So I like to just kind of put all my thoughts into one organized place. And that is the the Trader watch list, right? Everyone's gonna be different based on what your patterns are, what currencies you like trading. That's what I mean. There's no correct way to make a watch list, but it kind of just puts all your thoughts together. Everything you learn from the previous day, everything that you learned from the last 36 months, your whole in life, you know, just throw it into that one post every day and and over. Over time, you're gonna really notice how your thoughts become kind of one and your trading strategy and your trading and everything is way more focused on concise. And this is all due to just making your morning watch list, right? It's the second thing that I do every morning. So just to highlight the importance of a watch list, um, so where to make it? I talked about where to make it a little bit. It's in that first link below, uh, on Zillow dot com. Ford slash trade journal. Just go ahead and copy it and make it your own. You don't put some flowers on and do whatever you want to do. It doesn't really bother me. I know there's a lot of fishing people in this channel through a fish on it. Um, do do whatever makes you happy. And don't worry, it's probably not going to stay. The weight is forever. Maybe one point you're gonna realize that you like working with, you know, book more. Maybe you're gonna build something that really works. Well, I don't There's tons of options. There's a few things I have in mind already that I want to release to you guys to make it easier. I won't talk about in this video, but I just, you know, don't stress about it. Don't be like I don't know how to do this. I'm gonna wait. Maybe I'll do it tomorrow. Just just do it just right. Like one sentence. If that's if that's all you need to dio or, you know, whatever. There's one last thing I want to talk about and that that is basically the changes from equity. So I talked a lot about what you want to write on your watch list, right? Maybe we're approaching moving average. Maybe we just went down 10%. Maybe, You know, we hit support and we won't go past this $4000 level that you noticed. So things like that is really cool to add what I used to add when I traded equities and I'll show you guys a little bit is the morning gainers. So when you trade equities hope this is not too much for one video. But I want to just get it all out there. Just You can always watch this video again after you watch the first time or again next week in the week after that, so you could always come back to stuff. So sorry if I'm putting too much knowledge on you at one point or just too much information when, with most equities straighter, you typically trade stuff that is having volume. So a lot of people are trading right. Did something just go up 10%? 20%? I want trade that right. I want to trade what's moving you as a trader. Most traders will always tell you you never want to trade something that looks like this. That's flat. No one's looking at it. That's just a huge, huge set up for making mistakes. So you want to avoid flat altogether. Typical with equities script is a little different. So what people would do is they would go over to, you know, a screener. Screeners are a bit more hard to come by with Cryptocurrency. There's a few cool ones we'll talk about. But for example, coin market cap dot com is one of the bigger sites that talks about crypto currencies, and there's a cool tool are actually trending. You can see the biggest gainers and losers, and that is maybe an interesting way to trade, so you can see that this coin t c n I don't know what that is. I don't know what most of these are. These are typically small coins that are more or less irrelevant and you'll have your, you know, your biggest gainers. And if this was equities, I'll be like, Holy moly. I want to trade that because that is moving up and down. And I could probably, you know, do a very clean bounce straight or something like that with crypto currency. It doesn't really work that well. And I'll tell you two reasons why. One reason it's probably this coin is probably on an exchange that you will never trade. Probably called, I don't know schnitzel put for something the There's so many exchanges out there that are trading complete crap coins and you you typically just want to avoid all of them at all times. So if you actually go on the coin like I just did, I clicked on this, came over here, and then I clicked on markets, and then you go back down and you can see the the biggest market it's traded on. And here this one's traded on trade by trade. I've never heard of that exchange, so I definitely will probably not make an account there just to trade that coin. And not not even because I'm trying to be against that exchange. Making an account on exchange takes a lot of time. It takes about, you know, weaker to on a lot of exchanges. You have to do que y c verification all this ridiculous stuff, which is actually good. But, you know, if you want to quickly trade something, it's quite stressful. So that's one reason to avoid him. It's traded on a random exchange, which is most likely fraud. A second reason is check out the volume This thing in the last 24 hours on Lee traded $187,000 And that's only because I had a huge spike only because something drove a lot of people into it today. And I'm gonna American Ally. $187,000 is not a lot of money. You want to trade something that is very, very liquid and when I mean by liquid is something that you can get in and get out of without affecting the market price. I'm trading right now on average, with a, uh, an entry size about $10,000. And I know some people think like $10,000. Isn't that going to affect the market? While I often trade like coin and it does not affect the market at all, it goes through $10,000 like it doesn't exist. My order gets executed whenever I wanted, and that is why I trade bigger cap coins. If you trade something like this, it might go down another 100% you 100% negative day and you won't get be able to get out because there's no buyers. That is the worst position you'll ever be in as a trader. And I'll tell you right now, avoid coins with a small market cab. Now you might be wondering what's a big market cap? While a big market cap is simply something I would say over $10 million let's let's take a quick look. What, like coin is because I can't remember off the top of my head. Here you can see the market cap with like coin is $13 billion so that shows you a little bit of transparency And here you can see the average trading volume in the 24 hours is 808 $118 million. Actually, that's what I wanted to say you want. You don't want to trade something necessarily with big market cap. It could mean it's still a e liquid stock, which means you can get in and out very difficult. It's not easy getting out. You want it who are gonna catch my breath. You want to trade something with. That's not just has a large market cap. So something in this category you also want to trade. We're looking at X r p. I was talking about like in this whole time. What am I doing? Where is like wine? I guess it's a little bit relevant. Oh, it's right here on my God. I looked right over it. So, like coin is that $3 billion? That average trading volume is right now $60 million and what I wanted to get at is the market cap is kind of important. But what's more important is the I'm getting all these numbers wrong. Sorry, guys, unlike six video in Who got a focus here? So what's important. The really, really most important number. Is this the volume for the last 24 hours? That means so you have a big mark cap, right? $3.4 billion. But then $1.4 billion is actually being traded every 24 hours. That is actually quite insane. That that much turnover is happening right now with with, like, coin, you can see you with Bitcoin. There is a market cap about $1,068,000,000 but there's only about 10 billion being traded on on 24 our bases Super super liquid stock. This is I mean, currency. This is all stuff you want. But just just to give you guys an idea what we're looking at, you want to try something with one large market cap, You want to trade something that is traded right? You don't want to trade something that's just not traded because that's gonna hinder you from going in and out of positions. Alright, guys, I know this video is a bit longer. There's loads to take in. So maybe just watch this video again after you play around a little bit. If you have any questions, guys, remember email me Alex at enzo dot com. There's gonna be a little feedback box. So if you ever have any questions, I don't know where the feed box feedback box is gonna be. But your efforts stuck. You have questions, you know, let me know. But before you do that grew a little bit. Check out everything I talked about. Maybe watch this video again. Um, just kind of try, you know, play around a little bit. Right now, everything might seem like a foreign concept. It might seem like Well, this is too much. I don't think I'm able to learn all this. Just take a step back, relax, take a deep breath, make your first watch list and just kind of go from there. You know, have fun with it. Don't Don't ever get to stressed and just keep going. Consistency. I'll see you guys in the next video. 8. Intro | Join Our Community: who is a trooper? That was a hell of the video. 20 plus minutes. I hope you watched it. Maybe on 1.5 speed or something like that. It was a lot to talk about, but this video is gonna be much shorter. First of all, I want to congratulate you because this is the last video of this introduction lesson. So seven videos down. I don't know how many more to go quite a bit, but give yourself a pat on the back. You did a really good job. So far. Maybe you want to watch some of those videos again where you're not 100% sure on. But you didn't make it this far. And that is the most important part. This is actually gonna be the last video for me today. So you're going to see me again tomorrow Before I leave, though, I want to talk about a two things. So the first thing is actually let me just dive into really the important thing here. You want to go to the discord training track community? This is the private trading chat room where we talk about everything from entries and exits to positions we just got into to what we're looking at. We greet new students just like you were doing everything right there. So that is the first thing you want to do Right below. You're gonna see a link. It's called enzo dot com. For it slash discord slash again and trading slash again chat. And that is the link you're gonna want to click on. You're gonna want to accept the invite, and then you can use it either on, you know, just a chrome or cloud Web based solution. Or you can download discord, which I would really recommend, and you can have it anywhere you want. You know, if it's on your laptop or if it's on your phone, they haven't apt to. It's a really cool platform. You're gonna love it. I can't wait to see you inside of it. It's a really cool place. There is one thing that we do there quite often, I think one of the most beneficial things there is just noticing trends, and I actually wrote one off them down that I saw in the chat room that really or that actually wrote in the chat room that is, is an example, a perfect example of this. So trends in the crypto space is a, um, is a very in anything in the equities market, er or whatever. You know, you're always gonna notice trends if it's a pattern, or if it's the way you know, the market reacts at a certain time, blah, blah, blah. There's gonna be specific trends and their seasonal right. They're not always there, so maybe you pick something up. And here's a trend that I picked up So UTC between six and 7 a.m. I've noticed huge breakouts or breakdowns, which means there's big market movement between five and 10%. And UTC is the time zone. I'm in in Berlin while I'm making this video, and that actually comes down Teoh about Midnight Eastern Standard time. And actually it noticed that when I was in Florida last time that right around mid time huge breakouts. It's usually like also one in the morning. So it's kind of funny. So different traders around the world I don't know where you are can notice trends probably differently than other traders because maybe you're sleeping. Or maybe, you know, I don't know you're out of work or it's like it's always at lunchtime. This thing happens. So it's really cool how there's different trends in the market and they're extremely consistent. I've also noticed that breakouts typically happen, you know, on Monday or Friday, sometimes on the weekend as well. The crypto markets sees a lot of activity on the weekend. So, you know, just stuff like that is really cool to talk about in the chat room and see what other people are thinking about. So the chat room is a place where we all bring ideas together. We all support each other. I'm constantly getting emotional feedback over there, so I just It's just a fun place. So go ahead, join that discord chat, trading, chat room, give you give yourself a little introduction When you're inside the trading chat room. You can say, you know, say whatever you want me like What's up? Guys like I completely new trading or I've been trading for five years or whatever it is about you and you know what? Your goals are right down a little bit of stuff, you know, I'm super interested to read it, to learn about you. Other students get interact. I mean, it's just gonna be a really fun and open environment. So I can't wait to see you there. I think that wraps it up for this video. I wanted to keep it short. I know the video before it was quite a beast. If you have any questions about how the discord trading works or just the discord in general works, feel free to email me. I'm not gonna make a video about it because things like this change all the time. It's it's an app. So, you know, if I make a video about you know how to create a log in, it's probably gonna change next month because they're gonna move that button somewhere else . So if you have any questions, Google is your friend. The first thing you should always do before you ask somebody is ask Google because most likely, you will find an answer once you ask Google and you still don't know that it's a good time to ask somebody else. But yeah, just be proactive. There is so many ways to learn, just, you know, get out there, really push yourself and you're gonna love it, so I can't wait to see you tomorrow for me. Maybe you're gonna watch the next lesson right away. But I will see you personally tomorrow and enjoy the rest of your day. Good luck learning and remember, guys, consistency. I will see you later, Chatchawal. 9. Setup | Exchanges: Welcome to the set up section of this course. I am super happy to have you back. And I'm excited for everything that we have to talk about in the next six topics. So to get started, we're gonna be like I said, being very hands on in this course and in these next few videos, there's a lot of stuff we are going to need to set up. And what better place to start with then or then the exchanges that you're gonna actually be trading on in the future? There is one very specific reason that we want to start with the exchanges, and that is pretty much because they take the longest. So even if you set up an account there, sometimes you need Teoh do certain K y. C know your client verification or know your customer verification. And those sometimes take between a week or two sometimes and you to send extra documents like a driver's license or a picture you holding ah note or something like that. They always change up their methods. So that's why we're starting with the exchanges. And also the best thing to do is to sign up to multiple exchanges, even if you end up on Lee using one. I actually made a list of a few exchanges that I use. The main exchange that I use is coin base, so we're really gonna be focusing towards that one. Most of the time. However, I do like to have a few extra exchanges, just in case I have a problem with Coin Base. Or I find maybe there's a currency that I want to buy where coin that I want to buy. That's not on coin based. Then I can go ahead and purchase it on that exchange. So it's always, I would say, better toe have mawr exchanges than not have one. So it's It's one of those things better having not needed, then needed and not have it. Because if you do need it and you don't have it, sometimes it does take a few a few days or a few weeks. Still, that set up. So let's go ahead now and dive right into that to get started. We're gonna actually go over. I'm gonna switch my screen here a little bit. Um, let me see what I need to pull up. Okay. So at the bottom of this page, You're actually going to see a You're going to see a link, and it's crypto Don enzo dot com ford slash exchanges. And in this, if you click on that, you're gonna go to a page that looks a little bit like this and all you need to dio or you don't really need to need to do anything, but you have to dio is, um you click on one of these and you go to the exchanges. Let me just tell you guys a little bit about this chart and what's going on here. Right now. All you need to focus on is the things on the left side. And don't worry so much about thes thes two columns here on the right side. We're actually gonna talk about that in the next video. I'm really excited. Talk about maker and taker fees because it's a really important topic. But for now, let's not focus on that. So I have four exchanges listed here. Coin bases, Obviously the one I use the most by Nance is another one. That's really nice. They don't have USD fiat inside of finance, so it's a little tricky, which means you have to buy crypto to crypto. If you don't know what that means, don't worry about it. It's gonna make sense later on in these video lessons, but basically typically you buy something with USD. So if I'm buying Bitcoin in a cost $4000 that's basically the trade on making. But on finance, I'm buying, let's say neo or light coin with BTC. So first have to buy BTC and then move it over to finance, so it's a little bit different. It's not afia exchange, but they're actually adding Fiat. I know they just added, I think euro and maybe another one, but I would have to check up on that coin is another one that's very similar to finance. Thank you. Coin is a Hong Kong exchange, and I like it a lot because sometimes if I don't find a coin on finance, I'll still find it on KU coin. But finance basically has everything that you need cracking is oh, actually skipped bid for next. Biff Indexes used to be one of the exchanges I use the most, but they actually had some big issues with us clients because, um, there's too many regulations in U. S. A. Regarding crypto currency and U. S clients, so they basically just cut all US clients. Now there is many, many ways that aren't very tricky to get around that and still be a bit for next user. However, I simply just left that out since. Why not just keep it clean and simple? Coin based does everything that we need to do, and it's actually cheaper. Then the last one is cracking. It's actually a American exchange. However, it's located in Canada. I believe I might be wrong. Doesn't really matter anyway. Cracking is a really good one. I don't I'm not a huge fan of their trading platform, and their volume is sometimes a little bit lower. It's It's not my favorite, but I do like that. It's one of the older exchanges. It kind of has a lot going forward. Um, it's, I would say, more reliable than some of the other ones that it just It kind of has one of the first first exchanges in the space. It was it was there, since I think 2009. So it's it's been there for quite some time anyway. You might already have your account on some of these exchanges. If you do, that's that's all the better. Even better if you don't feel free to click here and sign up if you so you'll notice there's a star on the right of three of these, and this is basically just using our ends lower referral link, The only one that actually has a referral link, that is, I would say beneficial is the coin base. Coined based slash do tax objects isn't around anymore. It's the coin based one. So coin base will give you 10 free Bitcoin or $10 of free Bitcoin. And, uh, I think when you purchase $100 or something like that of Cryptocurrency, I'm not really sure. Just click on it. It'll tell. It'll tell you right away what the whole offer is. And yet the other exchanges don't have a referral program. I think cracking and bit Finex saw. There's no link. Their finance and COO coin, I think, do use my referral code, you know, Don't use it. Use it, you know, support us. I don't know Whatever. Whatever you feel is right, if you do use us all the better to you and thanks, I suppose. And if you need any help, I would be happy to help you. So I think that's everything I really wanted to talk about in this video. Let's quickly go over the main topics. One multiple exchanges. You want to have more than one exchange? Not necessarily more than one account. That actually might give you more problems than anything. So definitely coined. Based, I would say finance, I think is a great idea. CU coin you can never really go wrong with. And I mean, you might as well just reply to cracking as well. If you're not in the USA, I would also recommend going for about a bit Finex because I just a really nice trading platform. I think so, Yeah. So let's create those accounts. And the third point is, Do it now. Don't just wait for the next video. Don't wait for tomorrow. Don't wait for maybe tonight. Just go ahead and do it. You know, take those few minutes out of your day to at least get the ball rolling because you're gonna be really happy that you did. You might have no problems and have the account set up right away or you're gonna actually run into a few problems, and at least you're going to know that. And then you can prepare that whatever documents that you need to send to get approved. So do that right now, Before anything else, get your account signed up. You're gonna need them for throughout the rest of this course. If you don't have an exchange, especially it may be a coin based exchange. You're gonna feel like you're missing out on this course because, like I said, it's very hands on. So go ahead and do that now, and I will see you in the next video when you are done. 10. Setup | Avoid Fees (Maker vs Taker): Welcome back, guys. Welcome to the next lesson in the set up in Siris. In this topic, we're going to be focusing on avoiding fees, what these fees even are and the difference between maker and taker. If you already know what maker and taker is all the better, hopefully this will be a decent review. If not, it's actually very simple. And I'm gonna lay it all out for you guys right now. The best way to get started, I think, would be going back to the table that we talked about in the last video. The two columns that we kind of skipped over. So let me go ahead and do that, all right? I switched the screens. You guys can see now what I see and what we want to focus on are these two columns. And let's just start with coin base, because once we figured coin base out, everything else will make sense. All right, So if you if you go over here to coin base, you will see that the starting maker fees and I call it starting because actually these fees I know coin base show 0% but all the other ones that show a percentage, they typically go down. So the more volume that you trade per month. So let's say, you know, I'm trading with $1000 and I'm buying and selling all month comes out to, let's say, $50,000 or $100,000 in back and forth transactions. The more volume you create, the lower your fees will become. So that's one way you can reduce fees. But another way to I would say completely avoid fees is to just kind of be smart about it and maker fees is, I would say, being smart about it. It doesn't work with every trading strategy. But this trading strategy. I'm gonna be teaching you guys and we're gonna be really focusing on maker Fees are definitely possible to achieve, and that is typically lower fees or zero fees entirely so you won't even have to pay fees. Um, a quick little overview, uh, just for you guys right here is 0% for corn based to be a maker and 00.3% to be a taker. Now, let's think about that just a little bit. If I'm trading with $10,000 right, I'm buying Bitcoin let's say for $10,000 I want that much Bitcoin And so I don't know that be like to point something Bitcoin right? If I buy Bitcoin as a maker, I won't have to pay anything for that. But if I buy it as a taker, I have to pay actually 0.3% and that's $30 on you might think. Wow, that's really weird. What? What is this whole taker thing? Well, I think, honestly, the best way to figure that out is if we just go on over to the exchange and kind of see everything live and apply what we know so far about maker and taker fees. So if you go here and all exchanges are a little different but in concept or their interface is a little different, But the concept is always the same, and this is something that's really unique. I have found to crypto currency. I have not found any other exchanges, like in equities or commodities that do it this way. Maybe I'm ignorant and I have not founded. If there is, let me know because I'm super curious if there would be anyway. So you go over here and you see by Let's say we want to buy some Bitcoin and right now we have $10,000 in this exchange. So let's go ahead and kind of put it to work. You can see that we could be a minute. We could make a market order or a limit order. Right now, let's focus on the limit orders because we want to focus on being a maker, and I'll talk about the difference in a little bit. Hang type with me if you're a little confused, because it's all gonna make a lot more sense. And if it doesn't just, you know, watch the video over again and I think the second time it will definitely click, So the to keep it really simple. The difference maker in a taker is if you're making an order. If you're adding to the order book, what's the order book? This is the order book. These are all the orders that you see inside of the exchange. So if let's say I want to buy 10 Bitcoin and you want to sell, let's say five Bitcoin right? My, I want to buy shows up here. These are all the buyers and over here are all the people selling it at certain prices, and actually, I don't want to skip around too much. But this is probably good time to talk about the depth chart, and all the depth chart is how much of that coin or asset is available at that price are at that given price, and that is exactly what you can see in this little chart down here. So this is called the depth chart, and the reasons, called the depth chart, is because the more Bitcoin that is available in this case, but actually in this case like coin, the more like coin that is available at that price, you can see that the volume or the potential amount you could buy kind of moves up. And that's why there's these kind of gradual increases, more more people. And then sometimes you'll see these price levels here that are more or less significant because more people would want to buy at that price. We'll talk a bit more about why there's these kind of big walls, and these are often referred to as support and resistance levels. There's gonna be a whole entire video on this especially the support and resistance levels , so don't get overwhelmed. This is going to be more of like a general overview with a focus on makers and takers. So let's dive back into the maker and takers. There's so much fun, exciting stuff to talk about. Sorry from getting a little all over the place. But that's just how it is when you start off with something, there's so much to review. So the maker in taker right here we want to buy, Let's say, Ah, 100 light coin, right? And are we want to buy that like when Here's the chart. So we just came out of really weird time. It's been we've been having huge activity and the price just fell off a cliff right here, but then rebounded. And now it's kind of holding even our holding study, and we want to kind of maybe get in near the bottom. So let's say we want to buy it right around here. $55 and 27 cents. Are we going to get filled? I'm not really sure, but let's say we do want that price waken go here and click on the graph and it comes in here or we just type it in again manually. And then here you'll see below that we won't be charged. The feet and the reason we're not being charged a fee for this is because we're maker. If we place this order, our order, that what we create right now is gonna be moved over into the order book and we're adding into the order book, we're making an order, right? We're creating more orders. That's why it's called a maker. And these exchanges want a very heavy order book. They want order book that's full of activity. And that's why they're rewarding us with either lower fees or no fees in this case, zero fees. Now when would we actually be a taker? When when would that happen? Well, there's there's two times that would definitely happen. And that is, if you use the market and when you are a market order, it basically means that you want to get executed right away at any price. And if you want to get executed right away at any price, what are you doing? You are taking from the order book. That's why you are than a taker. So let's actually make a real life example. If you come over here and let's say we want to know what is the Max but do okay the max button ads, all of my current Fiat USD, into the into this order form. We don't really want that. Let's just say we want, you know, toe 5000 right now or five. Let's say 500. If I clicked place by order, I would instantly get executed. I would take from the order book and you can see right here that are fees would be a dollar and 50 for $500. We don't want that. So we're going to use limit order most the time. There are times you want to use market order and that is one to get out of a trade. If the market is moving against you and you are constantly chasing it with a limit order and the market's going down, you won't be able to really get executed and get out. And that is not a good thing. So in those cases we're gonna use market orders. But on almost all of the cases, you're gonna be using limit orders. You're gonna pay less fees and you're gonna be a much happier person. So let's see what we need to review quickly. You could see the market is really just kind of going crazy. Ah, it's It's an interesting time to make this video all day. The market wasn't doing anything. I was like, This is gonna be a great time to make a video. But, you know, that's just how it is. So we talked about maker vs taker. We talked about the order book a little bit. We talked about market order and we talked about limit order. One thing we did not talk about that I just want to kind of hit hint on a little bit is the stop loss. And so this stop order is something very specific, and we're actually going to talk about it a little bit more later on in this course. But I want to talk about it a little bit now, so you guys can, you know, have a little no, dip your toes in a little bit and get some experience. So all that this does is lets say, we already have a position. Let's say I don't know. It's $100 or way have I mean, 100 coins at a certain price and, um, the and so okay, so were executed at a certain price. Obviously, if we're long, we want the price to go up. But what happens if we need to either leave the computer or, you know, we want to kind of cut our risks at a certain level? Um, usually will say, you know, if the price goes 1% against my position, I want to get out. Like if I'm down 1% I don't want to be in this trade anymore. I don't know what's going on. My thesis is broken, blah, blah, blah. We're gonna talk about that a lot, but a lot of people have a emotional bias, and they have a really hard time getting out of a trade. And what you can do is create a stop loss. And that's basically if the price is going down and it reaches a point, Um, let's it's, ah, specific price point. Then you are forced. Your position is forcefully sold onto the market, and that way you you hedge your downside. You had your risk, and it's a good method. I use it sometimes when I'm off the offline, so you know if I'm going to sleep overnight. But I'm long into a position. Or, you know, if I'm running to the grocery store before, basically, if I'm doing anything and not able to watch the price, I'll use a stop loss. And and the stop loss basically works the same way as a market order. The only difference is the stop losses on Lee triggered when the price reaches that level. All right, I think that is everything I wanted to talk about in this video. A lot of these things were gonna come back to, so there's no point and spending too much time on it. The best thing to do, though, is when you do get in exchange or get access to in exchange, just play around with this order form a little bit. It's gonna make a lot more a lot more sense when you just kind of tinker with a little bit No. 300 bucks and see what happens. It doesn't really matter if you lose 50 cents or a dollar, you know, just kind of play around with it, get a feel for it and you know, just have fun with it. That's really what it's all about. That's everything for this video lesson, and I will see you guys in the next video. 11. Setup | Accounting: Hello, everyone, and welcome back to the next topic. In this series of setting up in this video, we're going to talk a little bit about accounting and why it's so important for your crypto trading. This is something that once you set up now it's going to save you a lot of time in a lot of hassle down the road. So you might as well already do it, especially because the platform that we use is entirely free. There are paid versions, will talk about some of the benefits, but in general we're just gonna talk about a little the site in general, some of the benefits and why I use this one. And, you know, let's let's see what else we talk about So first to get started. Let's go on over and go to the website. You'll actually see a link below, and it's enzo dot com ford slash think coin tracking. And if you use that link to create your account in the future, if you ever do decide to go with a probe in the pro plan a paid subscription, I'm not really sure they call it anyway. If you do end up purchasing anything on their website, you get a 10% discount, so it's pretty cool. Use the link below on. You won't regret it. I'll take actually something else. That's really cool about this tracking link in a second anyway, So let's go over to the site and dive into it. All right, There we are. So this is coin tracking dot info and here you can see everything that they will. I guess they have on the home page and they talk about a bunch of a bunch of things. They What they really like from these guys is that they haven't AP I toe all these different exchanges, so you have to just put into into you just have to put you're a P I information from these crypto exchanges into a coin tracking down info and they import all your trades. You don't have. You don't ever have toe enter Emmanuel information. If you have, I think the free version You can Onley import CSP documents, but you can get those as well from the exchanges. I like the AP because it's a little quicker, but I did the CSB import for a really long time. Um, so it's the free version is completely fine as well, and that's that's one of the main reasons I want to share. The second reason is because I have not found in accounting software that is on this level . I mean, these guys really thought about everything. There's a few quirks and a few bugs I've found and actually reported already. And there's but their support is super good. They always reach out to me and over the last about two years actually developed quite the relationship with these guys, and they're located in Germany, and since I'm often here, I'm actually going to be going to their headquarters. I think it's in Munich. I need still talking to them about it. They want me to film the whole video Siris on how to actually use coin tracking, and but that's that's a whole different debate. And that's why if you use this referral link, I don't know what I get. I think I get also a few percent of whatever you buy so cool if you use that, if not, no biggie, no harm, but if you do use it, you get 10% off. I think I also make like 10%. I don't really know. Um The important part, though, is I'm gonna be putting out a lot more videos specifically for coin tracking. And that's why I'm not gonna, like, dive into too much details on this site. I just really want to talk about why it's good one. It creates a really, really nice chart under the dashboard, and you can really see your account growth. You can see your profits on different coins, and there's just so much functionality on it. There's also a feeling I'm a sales person for this site. I just really like it because this last reason in the last reason is the tax report. It basically does all the taxes for you. If if they did not have this last year would have been a complete health for me, actually, this year as well. I mean, the report they give you, you just basically have a number, and you add it into your tax documents and everything is taken care of. I'll make a full on video for that in the future. So again, I don't wanna talk about it too much, but let me show you guys a little bit on what a dashboard would look like. You'll have your total account value. I don't know why they use such negative values. Toe advertise the dashboard, but that's what they dio. You have a cool account balance. You have your balance by day, which is really sweet. You could really see your account growth over time. They have your current balances across all the different exchanges. So a lot of times people complain like I don't know where my exchanges are, how much I hold here. You know, they also tracked wallets like cold Wallet and all that stuff. So it's really cool to kind of just have your your almost like headquarters, you know, you know where everything is and everything is clear and concise, so I definitely recommend creating and count here. It's a good investment of time, and you won't deny it or won't regret it. E think that's what you're supposed to say. The tax report is really great to, I think if there's nothing else you're gonna use here, use the tax report alone. Let me see if there's anything else I want to talk. Teoh. Yeah, just create an account. It's really good for taxes, and I will be making probably a video syriza about this very soon. Don't stress if it's not out yet when you're watching this or really anything else, because where is it? Their documentation is on point and everything I found on this site I was able to learn. Oh yeah, under support, your top right contact a fake you documentation. It's really good and their support is extremely responsive. And I think that's always what it boils down to if you know if the documentations lacking the supports, their or vice versa. But these guys have both. So enough tooting their horn had want to bore you guys too much. I just want to say definitely check him out, creating account. Use the link below to save 10% and support on as low a little bit. And, yeah, that's everything for this video lesson moving right along. There's a bunch of good stuff coming, so let's not waste any more time, Joe 12. Setup | TradeJournal: welcome to the next topic in this set up Siris. In this video, we're going to be discussing your trade journal. This is a little different than your watch list that we're talking about in the introduction. Siris. In this case, we're gonna be talking about trade journal spreadsheet, and this is we're gonna be docking, documenting all of your individual traits. And also be building up a nice statistical library so you can be learning from what trades are your best. Based on chart patterns and a few other variables. So let's go ahead and dive right into that to get started. You're gonna want to go over to trade journal dot Co and let me flip my screen and go there as well with you. Wait. Let me see where I'm at. I'm actually on the wrong screen right now. Do do Do do all right, and flip it. Okay, so we are now here before we actually get into axing the Google sheet and starting to play around with it a little bit. There is one main reason you want to document your trades. And like I said before, you know, you build all your statistics and um, you're able to review him down the road, which is extremely important. We're gonna be talking about the power of the power of reviewing your trades and a little bit. But another side benefit or initial benefit is the fact that when you document your trade, we actually focus on documenting the trade ahead of time. So you have your ideal entry. You have your ideal exit and your stop loss when you know all hell breaks loose and the trade does not go your way. So we like to document all that ahead of time. And, you know, the better you get, maybe the less you have to document that because it's like super ingrained in your head, and you already know all that stuff ahead of time. You could just use the chart. But when you're just getting started, writing everything down really creates clarity. And there's one thing you don't want to do when your trading and that is changing your mind halfway through. I mean, there is one thing about, you know, getting into a trade because there's a pattern that really looks good and then getting out right when the trade no longer goes your way. That's that's basically a risk management strategy. You're getting out of a trade when it no longer gets your way. But there's a second thing when you're still in the trade, it's no longer going in your way and all sudden hope is your strategy, or you're gonna turn this day trade into investment because you're down on your trade and you're just gonna keep holding it on. And then six months later, you realize you're still holding it in your positions down 80%. You would never want that to happen. So by documenting your trades ahead of time allows you to create that structure that you need to strictly live by, unable to become a consistently profitable trader. So let's dive into that right now. This is a little website landing page that I threw up not too long ago, and it's just so you guys can get the Excel spreadsheet in the easier way on. It kind of kind of puts it all together. I actually want to turn this Excel spreadsheet into a real life website, so maybe when you're watching this, you'll this will actually be a website. I'll always have the Google spreadsheet available because I think it's really cool. And I use it every day and honestly, I just really love It s Oh, yeah, with Simon to right now, this is the 2019 edition and it's probably the one you're gonna want to use. It has a few more. I would say smooth features to it. So you just go ahead and open that. And just like the Google docks, all you have to do to make it your own is go over to file and then not scroll down. But who? Sorry, this light is just really my eyes. So I have to do is go to file and then go down a little bit up and click on, Make it copy. You could change the name, make it your own on all that fun stuff. There's a few taps that are really important that I'll just likely go over. But you probably noticed this how to use video link. And that is a much more in depth video, and I'm actually gonna be adding a few more videos into that Siri's. So I don't want to really talk about it too much. I just want to give you guys a quick overview and, um, because this is a part of yourself. So all right, let's start with a quick overview. Um, here you can see, let's see, due to do strategies. So let's start with the analytics chart. Over time, you're gonna build a nice chart that shows your basically profit and loss with every trade . And ideally, your sharp. Your chart should go up in a bit of an exponential way because you constantly get better and you should be trading with bigger account size. At first, my charge was like a little all over the place because I was testing out different exchanges. I was trying different things, and then this account got closed, and then it was a long process. You'll see it in my weekly trade review videos if and when you watch those. But yet so with every trade that you do, it creates a chart, and that is going to be really good to kind of give you an idea of your progression throughout time. This chart is based on this table, which looks complicated, complicated, but it's actually extremely straightforward. All that it really is, is adding your your trades into this chart in a weekly basis. So at the end, the week, let's say I had a trade. I just say one trade was here. My profit for that trade was $25. And then at the end, it kind of calculates all the traits that I enter. Let's say there's two traits. For example, you go over here, you'll see it's 150 plus 50. So one traded made 100 $50. Another trade. I made $50 profit. So over a whole entire week it comes and gives me a nice total right on these air all day trades in this column and any trade that is maybe an investor trade something I hold like a week or two or a month or a year goes in this column. Here's a quick little example. He was a trade that I opened on Tuesday. It was probably swing trade, these air, all of fake numbers, by the way. And yes. Oh, sorry. I just had a focus a little bit. So years, a trade that I opened. And if you go down here, you can see I actually closed it on this day and There is one more thing that I want to talk about. Where is where is it? Where is it? This is actually a problem. This should not be here closed. See how this is the same trade? It's just clean this up a little bit. Perfect. Perfect. That was a typo in mind. My bad. There's always going to be mistakes. It's all about just, you know, learning from them. Anyway, I knew there was something wrong. So this is when I open the trade open B T C investment, right? And then it's a 0.5 because it's only an entry. It's not a one because of one is a full roundhouse trade. And then down here two weeks later, or even three weeks later, I guess you can say I closed the trade, So that's another 30.5. And when I close the trade, that is when I realized the profits or losses. When you realize something, it means that you close that position and it's no longer really an open position, which means unrealized gains. So these air realized gains now, and I close this position that I opened over here, and it comes and gets added into my trader some and investor some. So it's basically my weekly trade results from the day trading, plus my weekly trade results from swing trading kind of gets added up into here. And then, you know, there's a bunch of little statistics that are pretty cool like the trader. Some you see all your statistics from trading and I mean investing and then all your statistics from trading and then investing. So it's kind of like divides into a little bit because it's really nice to have a bit more analytical, um, feedback experience, uh, from the two different trading strategies, because we're gonna talk about this a little bit later, and I think I think and then his third or fourth a lesson. We're gonna really dive into the different Green Day trading and swing training and why should really separate that. So I incorporated that kind of intelligence into the spreadsheet, completely separated, separated it, and you can kind of see in this chart how your trader some is different than your investors . Some and that's that's really important. You don't want to combine the two and to take a step even further into this. Just a little bit today. You'll see here you also have your day trades, and this is really how everything will work in the end, Remember, if it sounds complicated, don't worry. There's there's a bunch of videos on this. I just kind of want to give you the rough run through. Um, here, you would enter the date you made the trade. This is if it's still open, there's gonna be a one. Here s So if these were open, it would look like this. Right? But these are closed. And what else is it? A short If it's a short, all you do is make a negative one, right? And you just keep on going. You have your your amount. How much did you enter the trade with? So if this was, let's say, $100 I mean 100 coins and then how much it costs. And then the entry amount is the price. Then then you'll get all these values calculated for you. And basically the first the first column is going to be. The first column is going to be about all of your targets. So basically, I plan to reach these levels. This is my ideal entry. This is my ideal. Not ideal. But I guess this would be my stop loss when I would get out. And this is going to be where I would want to sell for a gain. And then you can also talk about your notes a little bit. You know why I entered this trade, All that fun stuff. And this is really cool. This is where you talk about your pattern. And I already listed a bunch of patterns here. So let's say this was a stair stepper, one of one of our favorite patterns. This is a stair stepper long, which basically means you buy and hold. You enter that here. And the really cool thing about this is overtime. In this pattern statistics, you're gonna build a really nice library of your wins and losses. And in one of the next sections, I'm gonna share my library with you guys. So you guys can learn all that fun stuff, and you will have really good statistical proof for all of your trades, which is really important. So over time you're gonna know what your top three long patterns are. Your top three short patterns are without even thinking twice. So this is why building a library is so important. You're gonna be able to be more confident when trading certain patterns or be more cautious when trading certain patterns. Because, you know, maybe this pattern I only have a 50% success rate. Or maybe I have, like, 20% success rate. So maybe I should just avoid this pattern altogether. And that's why we want to build a chart pattern. Uhm quote. I think that's kind of everything I owe. Actually, there is one more thing I want to talk about yet. So crypto 50 to challenge. This is a really cool challenge. There's gonna be a whole video on this challenge, and basically, what this is is every week we are building a long, long term portfolio, something we want to hold for a few years, and this is kind of a challenge to at least build a portfolio for one year. And every week you put, let's say, $100 into Bitcoin, regardless with the prices, and this is a little table I made just for that. Like I said, there's gonna be a whole entire video on this alone at the end of this course, so no stress about it. Now, I just want to talk about a little bit. So we talked about your whole entire chart, which is going to show you a bit, which is going to give you kind of the overview of your progression. Then we have the analytical numbers. This is basically your weekly overview, and the information you put into here is going to be information that you get from your day trades tab. Another thing that we have is the investor tab, which is exactly the same. But it's just for your investment trades that way. Over time, you're gonna learn your winning percentages of your investor verse. Your day trades you're also gonna learn, like which ones giving you more profit. So maybe over time you're gonna be like much better day trader and horrible investor or whatever something like that, or you're gonna learn what you need to work on it. So it's a bit less, you know, clustered together. It's all very specific, segmented, and there's loads of ways you can learn from this. I'm gonna be sharing a lot more about my trade journal on later videos and how I use it to improve my trading in the future. I do want to make this a website because there's gonna be a lot less things that you could maybe enter wrong or a lot of the calculations will be done for you. In terms of I would say, the weekly overview, this could all be automated. So there's a few things I want to definitely automate. But for now, I think this is a really, um I wouldn't Well, simple. It's simple once you understand how it works. Maybe right now you're like, Whoa, I'm never gonna be able to figure this out. It's actually extremely straightforward, so don't worry about that too much, but it's also free. So it doesn't matter if it does take you a week or a month to, like, really, master, because it's free and, yeah, it's the best way for it. So it's a great way to get started. Is there anything else that I want to talk about? The power of review? The power of reviewing trades is something I wrote down, and it is really powerful to review trade. So not just are you building all your statistics in here, but at the end of the week, you can go back and look at all this stuff and think, Wow. Like this. This really? You know, this trade work this straight. Didn't on then kind of learn your personality, because with trading, everyone has a different personality. What works for me might not work for you. Maybe the framework and stuff works. But your your patterns are different, right? Like you might really like. Um, breakouts. I really suck it buying breakouts. But maybe that's your thing. Maybe you're like a really aggressive trader that somehow, completely can nail those eso. Everyone's gonna have different favorites, set ups and stuff like that. And this is this trade journal is going to help you identify those traits about yourself. So that's what it's all about. Um, cool. I think that's everything I wanted to talk about. Uh, all right. I guess we'll move on and I will see you guys at the next video. Touch out 13. Setup | Always Be Reviewing: Hey, guys. And welcome back to the second toe last video in this series, right? The set up serious. I know you're probably exhausted. This was probably going to be one of the more mundane kind of videos. Siri's because they're just, you know, you're setting up accounts. You're probably excited about trading or you really want to learn something. But right now, it's just kind of a lot of homework and stuff like that. So I apologize. That may be really feels like a lot of stuff is being poured on you because right now, there kind of is. I know the last video went on pretty long, and we're kind of just talking about a lot of very specific things. But don't worry everything. Everything is going to be coming together really soon, and before you know it, all this is gonna be really straightforward to, and you're gonna know it like the back of your hand. So let's dive into this topic and what we want to talk about or what I want to talk about with you guys in this video is simply the fact about always being always review. Always be reviewing. Never stop reviewing because if you do, that is when things go south. Basically, you want to put time side every week, ideally every day. But once a week is really good to review all of your past trades. O r. At least all the past trades of that week and kind of focus. What went right? What went wrong, Learned from your mistakes Learned from your successes. Try to fine tune your trading strategy a little bit and just kind of always be proactive in conscious about everything that you're doing. Don't just kind of, you know, start shooting into the market blindly and making trades and getting stressed and just always be relaxed and have a good time, right? That's that's the most important thing You want to do this to benefit yourself, not stress yourself out. And that is the power of reviewing is really just taking a step back, relaxing and being like, Wow, this, you know, I could do this. Isn't that big of a deal. I just have to be consistent at it, and soon I will be consistently profitable. So one way that I do that is I make weekly trade review videos. You don't have to make a video, you don't have to do anything fancy, but just kind of maybe going through your journal and talking or not talking. But maybe just writing a summary or maybe taking screenshots of your last trades and kind of reviewing everything so everything makes sense. One way to maybe figure out something that works for you is just check out what I dio and take the bits and pieces that seemed like makes a lot of sense and just implement that into your own routine. Actually have a link below if you want to check it out. It's about my weekly trade reviews and you can see all of them that I have been doing with crypto. Um, I am. These are only about, I think, six months old now, roughly give or take. So there, you know they don't go back years and years. Unfortunately, that would have been super cool, but I've been doing these video reviews for about 677 months now. Maybe I would have to look at the specific date, but it's extremely powerful. I talk about all the trades that I made the last week, what I plan to do next week to improve my trading. My review specific trades, and I also review the market little bit. I actually do all of my weekly trade reviews every Monday now, and I live stream it so other people can go and join the stream and ask me any questions that they have. So it's a cool little way for me to talk to my students live, try to give back as much information as possible and create a or add to the community in as much as I can write. I'm just being, you know, it's like a live Q and A session. So another thing to think about is that every profession in no matter what industry or what you know what sport category or whatever reviews what they do. If it's if it's, you know, watching a tape at the end of the game, or, I don't know, talking to friends or competition or their teammates, or just reviewing and figure out why you're tryingto improve on their last practice session , right? You're always trying to build off of what you did last, and I feel like a lot of times when it comes to things like trading or something that is a bit more analytical. People forget to review their past things because it doesn't feel like you need to do that , or it's maybe a little bit less tangible. But there is no difference between you know, being a trader or being a, you know, an athlete in terms of the benefits you get from reviewing your past performance. It is so important. And I know it sounds a little bit tedious. You're always gonna think I don't really need to do this, or I still remember that trade like it was yesterday. Well, even if you do that, trust me, reviewing it is going to be super important when it comes to your progression and your profitability. So don't do not skip this and just, you know, start small. Don't overwhelm yourself. Don't be like, you know, all Sunday. I'm gonna be reviewing the trading because you're just you're gonna disappoint yourself because you're gonna miss a day or something like that. Just keep it simple, you know, 10 20 minute review, and then over time, you're going to realize like it's really good when I do this. But this probably doesn't matter so much so you're always gonna be evolving your weekly trade review or whatever kind of review that you dio. The most important thing is that it works for you on that. You're consistent at it. And really, there's nothing more important that will probably talk about then just telling you that consistency is king. Nothing will ever be consistency because if you are put in a room with a bunch of scientists or something or you know something that you completely don't understand if you're in that room long enough, eventually you're gonna understand everything just as much as everyone else in that room, if not more so. It's really just about being exposed to a topic long enough until you've fully understand it. And that is a lot that we're gonna be talking about in this course. I mean, we're gonna give you the foundations. But, you know, if a topic like the one last video didn't fully makes sense, don't worry, because once you enter a few trades in there, it's gonna be like up. Now I get it. So you know, don't be scared at first. Make that first leap. Create that exchange, right. And tomorrow you're gonna be like, Okay, I'm one step further, and that's a little bit all I want to talk about in this video. I know. Maybe it sounded kind of weird, like, Oh, he just told me to review my trade. So that's the whole video about? Well, it's really just about. I want to highlight the importance of being consistent and ravine your trades and just baby steps. So yeah, that's what it's all about. I hope you found this video beneficial and can't wait to see you on the last video. So I'll see you there, John. 14. Setup | Trading Charts: Hello. Hello. Welcome back to the last video slash topic in this, uh, set it set up serious. It's actually really exciting that this is the last one. Because we're gonna end on a high note with building are. Well, you actually have to create another account. I'm sorry. That's just how this series is so many accounts to create. But this is, I think, probably the last one we're gonna have to create. Don't quote me on that, but we'll see. We'll see. So go to the bottom of this thing. Paige, you're gonna see a link under quick links, and it's gonna be ends little dot com Ford slash trading view trading view. And it go, it's gonna go to a site that I use for all of my crypto trading. I mean, this site is phenomenal. It's the go to site. I think the majority of all traders use this site and investors this It's amazing because it pulls all the information from a bunch of different exchanges. And it kind of has everything in one place that you'll ever need from charting tools, Teoh, different currencies and exchanges and just you'll see it. We'll talk about it. Let's head over there right away. So, yeah, if you click on the link and after you create an account, you're going to go over to the chart. Actually, I think you're gonna go over to the chart right away. But you want to create an account because we're going to talk about a few customization things, and if you create an account, you can save all that stuff. Now this is free, so that's awesome. You don't have to worry about that. There are some pro features. I'm actually I upgraded my account. I have a full account, like pro or whatever it's called, but that's only because I think there's like a certain amount of coins you can add to a watch list. I actually forgot the reason why I upgraded, but it's I think it was just the amount I use. It required a certain amount of Yeah, I don't know their pro membership. So let's let's not waste any more time and go over to the chart. Cool. Now you can see it already. My, like my little video here at the bottom is kind of taking up a lot of space, but you don't really need to. I guess. See what's going on in the bottom right corner, Because there's nothing important. So what? Um, what we're going to talk about is a little bit about why we used trading of you, How you can use it. Some of the little things that I like to use a lot, and I'm gonna I'm gonna key. I'm gonna refrain from talking about too many indicators or this side because you can want explored on your own and to actually gonna be talking a lot about that in the next lesson. Um called indicators, I believe, actually, eso right now we're going to just kind of focus on making sure you know what trading view is making sure you have a little set up on. Then we're gonna maybe dive into building a very simple watch list, putting some of your favorite coins together. So everything's just in one place. This is gonna be very, very basic. So yeah, go ahead, click on the link. If you have not already. And then you're gonna see something like this. You're basically going to see a chart. I'm not sure what currency or what chart you're going to see, we'll talk about that in a little bit. But if you want a black one, let's start with some customization. If if you want a black chart which I find is much nicer on the eyes if you look at it all day, I have this chart to the left of me on this bigger screen going 24 7 I like to always know what the market is doing. So to capitalize on a darker set up I have to do is go to this little gearbox. I believe it's this one down here. Yeah, and then you click on settings and let's see if I get this right. So do do do I think it's on background? No, not in background. There is a spot where you can click dark, Dark view or something like that. Dark theme. I think it might even be called a Should be under background. Well, I don't see it. I don't think it's this. We could try it. I don't know if I want to try it. I'm not gonna try it. Well, fuck it. I'll do for the video. Okay? Yeah. So I guess that is the button. Well, I don't really want that as my background. So I'm gonna make it dark again. You know what I did? I just completely messed it up. I don't really know what the dark sending was that I had. But all in all, it's not too important because there's gonna be tons of things that we're gonna be able to play with in a second here. Uh, let me just get it back to some rough, customized color. Yeah, Perfect. Okay, so we're back to this chart view, and I don't know if it was the same. Don't worry about it. Almost with it later. What? What is what's really the biggest thing to take away is you can customize this chart, however you want to customize it. You don't have to really, you know, worry about getting it right now. I remember for like, my first few weeks or even months, I was changing everything up in here different different levels on everything. So I like to really personalize it. Andi, really make it. Make it feel right on my eyes, and everyone's gonna have a different preference. So yeah, feel free to customize. However you want everything. Let's actually head over to. There's a few things I want to talk about and one specifically right away. Is this thing right here? It says one hour. So right now, each candle is in a one hour chart, and if you go to, let's say a four hour chart, you zoom back even further and you see the market. From a further perspective, this is all very basic stuff, and I'm not really sure how the average I would say Student is going thio going Teoh need for this explanation. But I'm gonna keep it very simple. And I'm not really gonna dive into too much because everything you can Google just ask Herbal like, what does you know this barmy and what does this mean? How do I customize that you're gonna get 20 answers? So I'm not gonna focus on any specific thing too much just what we are going to use. And if we just zoom in a little bit more, let's go to the five minute Actually, before we go to the five minute what I like to do when I trade is have s o what you saw all over here, remember, we talked about this coin base in a previous video. We you know, we're talking about the order book on this stuff, and if you noticed, I keep this on the one minute, So this is my zoomed in chart, and I like to have this open when I'm trading and getting into entries and exits. But I typically don't use this for finding setups. So I use coin. No trading view to find myself is because this gives me a bit more bird's eye view and I can identify trends and things like that, and that's really what I want to do here. So, yeah, if you go into the 500 chart, you can see that I you have a better overview of basically what's going on in side this one . I'm having some Internet issues. It's a little slow right now, so I'm not gonna wait for this load, but yet, basically, this this line right here and what we're having is the same as this one, but zoomed way out and it can give you a much better perspective on what's going on. I also like to, um, put these little marks where I have entries and exits. So this for example, is an entry. And this is an exit Thies to. Actually, this was a win. These tour, small losses, little scratches you can see entered here. And I sold here. I entered here and I sold here. I did. I was doing this yesterday. A really bad time. This trade was during when I was at a restaurant on pure accident. Had a limit order open. Um, that's that's a whole I have a nice little trade review of talking about that one. But what I really want to highlight is when you do this when you mark in your trading is trading view chart, you can always go back in at the end of the week or at the end of the day or whatever in reviewer trades. And you don't think How could I have made this trade better? Why should I have not taken this trade So by or why should y you know, Was this a good trade to take and all that stuff? You can really analyze it a lot, and by putting these things up, you can always remember where those trades were. Now, these don't get added automatically. You're gonna have to come over here and kind of click on whatever you want to do and and then basically, just place it. So maybe if you wanted a star, you can make a start, and then you just place a star right here. Originally, I actually had these pluses and minuses, but I switched over to these kind of I don't know what you call it like that. Like an arrow without a tail. Um, because it took up less space on the chart, so I recently switched over. Also, the other brokerage firms also used these indicators. It's a bit more clear, I would say. And yeah, I just kind of switched back to this method. Originally, I had the plus and minus to show people a bit mawr. I would say easier on my entries and exits. But I switched back to these not too long ago, and I think I'm going to stick with them. So, yeah, do whatever works for you. The important part is just to remember why we place these. We place these so we can see our entries and exits or else, You know, if you're just buying selling in this in this chart, your you won't remember where your entries and exits were. So you know, let's say we bought right now. Go over. You could even copy this one. Go into the minute view, you're zoom in and then place it right here. Well, it should be here. It should appear any second. I don't know what happened. There it is. It did appear just appeared in the wrong spot. And then let's delete this one. Yeah. So let's say I bought right now in coin base, right? And I wanted to remember that for the future, I'm just gonna put this little marker right here, right amount the minute view, and I put it there, and I'm happy. Another thing I think is really important is go to settings and make it not visible for our and days. Because if you make it visible for hours and days, when you go to an hour, our daily view of your chart, it's gonna be the biggest cluster, and you're not gonna want to deal with that. It's gonna be very stressful. So just keep that on a minute, and I think that's all you're gonna really need. So yeah, and then yet come back out. I typically use 5 to 15 minute charts when I'm day trading as my bird's eye view. And then when I'm entering a position, I'll use the one minute on whatever exchange. If it's buying Anzor coined based orbit for next, which I don't use anymore packin coin, you name it. Um, yeah, I have everything really cleanly outlined here. And, um, let me give you a little example of something we're gonna be dabbling in on the next section. So we're gonna be talking about indicators a lot, and it's gonna be really fun. Exciting section, But so one thing we're gonna talk about a lot is support lines. And this, for example, is a support line. I want talk about too much. Why? It's a support line. But, you know, this was we were tested here on the high, were tested here on high. Eventually we broke out from that level. So this was a resistance level at one point, and then we came back, touched it and bounced off that and a balanced again bounced again. So, you know, it was a key areas roughly at $54 was a key area. So you draw this support line out. And then this is actually the reason I made this trade. I basically had a limit order here, and I was I got triggered in this order overnight when I was sleeping. How cool is that? I get I was sleeping Enter a position because I made a limit order as a maker, so I don't pay any fees, and then the price bounces back up. This is around like, 89 in the morning. I checked the market like all sweet. I'm in a position I take my I think this was, like, 3% profit Get out of the trade. And, you know, I made 300 bucks just like that, right in the morning without really doing anything. So, you know, that's the amazing part about this bird's eye view. You get a good perspective, you draw your lines on, then you just get in and out of trades on this more zoomed in view. So, yeah, just kind of have fun with it, get a little creative, you know, don't again Like I always say, Don't worry about it too much. If it seems complicated, complicated, because eventually it's going to make a lot of sense. Don't ever stress yourself out. That's the last thing we want to do. You just have fun with it. The last little pointer I want to make is if you go here to the top, right, you can create watch list so you can make, um, I have a bunch of little watch list right here, but you can always say create new watch list and then you could add a currency to it. So let's do that. They create new watch list. We're gonna say, um, profitable Crypto trader Little P c T acronym. And then we were in the PCT. So now let's let's add a light coin and you can see there's like coin from a bunch of different exchanges. Because if I'm buying a light coin on coin base is actually different price than that. Like coin on cracking these air to completely X different exchanges, which is which at first kind of blew my mind. Of course, it makes sense, but it's coming from equities. You know, if I'm buying, you know, apple, it's always the same price because it's always coming from the same exchange you might be buying on, you know, TD Ameritrade or Robin Hood or different brokers. But all those brokers get their information from the same exchange. That's always the same price. But with crypto currency, it's it's different, You know? It's like if I if you and I just hung out and we're on the couch and we're like yolk, I will buy some of your like coin right now for 50 bucks, and I'm like, Yeah, sure, here's here's a light coin for 50 bucks and you send that to me. You know, we just made in exchange, and if we called, you know, my apartment or my house or your house or whatever is going on wherever we are, our exchange. That's the price of that coin on our exchange, our little local exchange. So each one of these exchanges is basically somebody's house. Somebody's, you know, local place, where a bunch of people are buying and selling. So sometimes there's huge discrepancies between countries and different exchanges. But there's a bunch of arbitrage bots and arbitrage traders that basically bringing the price back together, and that's a whole different story. We're not doing any arbitrage is trading if you are interested in arbitrage trading. You Google it. It's not my forte, although I am. I was working with some people on arbitrage spot, but that's that's a different story as well. Go stop. There's there's endless possibilities trading. It's a really fun thing. Um, okay, let's go ahead and at a ticker. Sorry for the little side ran. I love trading coined based. So we're gonna add the coin base LTC USD pair. And that's actually what this one is. So nothing really just happens. Actually, let's just go ahead and add something else. I know a lot of people are really stoked about X r p. So let's go. And at X r p and I don't know is Xer P on coins. Yeah, they did just added that probably further down. Yeah, here's x r p USD, right. That's our Fiat coin and we're doing on on coin base. So that is this one right here. So if you go down, you can see this is the X R P chart and this one just got listed, so it's kind of weird. If you go on the daily chart, you're gonna notice that there's almost no doubt it here If you go on, let's say crack an x r p cracking x r p usd. Since cracking is a much older exchange, you're going to see that it goes way, way, way further back, right? So looting. I even have a little line here, so yeah, you can see the difference between X r p on coin base and X R p on cracking. I mean, there's so much more data and the reason again is on coin base. They just added the coin that just listed it, so it hasn't been traded there that long, So there's not obviously that much data right now. We're on the daily chart, Um, of of X R. P. So, yeah, just throw some coins on here. Whatever you like. Since you created account, you should have created account. In the beginning of this video, you should already be playing around with, you know, the settings your your watch list. You're gonna have your play around with your different time views and also play around with your little star or whatever entry and exit kind of wave. You want to identify your traits that's really important. I again use this kind of tip of an arrow in the bottom of a narrow Teoh identifying my entry and identify my exit again. These are for longs, you know, entry is when I buy and when I sell is the Red Arrow pointing down? If I was shorting so everything has flipped, I would I would flip the colors as well. If you If you don't know what shorting is, we're gonna talk about that later, so don't worry about it. For now, I think I'm gonna stop it right here. Because if I keep talking, I think I'm gonna overwhelm everyone with too much information. So many over one myself. I'm exhausted. It's been a long day. So these video days air super exciting. But they're long and, you know, I drink a lot of coffee and I got to get through somehow. So we're also going to scatter brain. There's just there's so much to talk about. And unfortunately, it's hard to trade when you're making a video. So, uh, yeah, so all right, home where? I guess Just have fun with this. Um, trading view dot com, you know, play around with it, make it your own make mistakes and just you'll make get messy with it. Get all your exchanges. Go through all the videos again. Make sure you didn't miss anything, because next, next Ah, video lesson or yet the next video lesson in the indicator Siri's is going to be a bit more hands on. We're gonna be using trading view, a bid. We're gonna look at some pictures, and it's gonna be really nice to already have all your accounts set up, just in case we actually end up using any specific one eyes there. Anything else that I want to talk about? This would be a good time to remember. No, I think that's it. So yeah, go ahead and have fun with trading view and all the other stuff. And I can't wait to see you tomorrow at least tomorrow for me and the next section. Alright, guys, judge out 15. Day Vs Swing | Trading Day Trading Overview: Hello, everyone. And welcome back to a new part of this course in this section, We're going to be focusing on the different between day trading and swing trading. I know there's a lot of confusion around the to and maybe misconceptions. But in this specific video, we're gonna be focusing on the day trading side. And in general, this video is going to be a bit more of a bird's eye overview sends throughout this course . We're gonna be dealing with the specific details when we dive into the charts and some of those more technical things. Anyway, I hope you already are ready because this is one of my favorite sections. And, uh, yeah, let's dive right into it. So the first part we want to talk about is the pros. Why? Why Day trading order the benefits. Andi, I will tell you right now that some of the biggest misconceptions about day trading are simply falls. A lot of people think, you know, it's a little stressful. There's always something going on. Um, you can't sleep at night while day trading is actually the exact opposite, because when you're day trading, you are removing yourself from long term market risk. Typically, when I'm going to sleep at night, I have no more positions open, and I can sleep like a baby. So that is one great thing about data, and you're in and out of the market, and you don't have to worry about you know, something disappearing tomorrow or some huge issue. You are completely safe, and that is one of my favorite things about the market you're in and out typically within. You know, if you like, 30 minutes, 60 minutes, sometimes a few hours crypto market. Even though it moves a lot more typically than the equities market, the trades actually take a bit longer to come to fruition simply because we don't have, you know, an opening bell or something like that. So I really do like the fact that you can take yourself away from the market risk market risk or market exposure. Risk is simply every minute you're trade position is open, you have more risk exposure to the market itself on, and that is one of the things you mitigate with day trading, swing, trading and investing is a bit different, and they also have the ways to mitigate some of that risk. But with day trading typically at the end of the day, when you go to sleep, you're completely out of position. We will talk a little bit about when you want to hold a position overnight, but if you fault me for a little bit, you probably know that that is not something I really like to do. I do like to play some limit orders overnight and try around key support areas, but that's about as far as my overnight holdings or strategies go anyway. Another benefit is a source of income. When you're investing, you have to put money away for a long period of time. And not everyone can do that, especially people just starting out with the, you know, trading and finance and investing world. They might have a small bit of additional capital to put aside for a long term perspective , and I think everyone should be doing that. Everyone should be putting, you know, $50 a week or $100 week or $1000 week, whatever you can dio put aside every week and build a nest egg. But that's not really what we're doing with day Trading were actually trying to make some really income here. As you know, a normal job, I would say so. That's a really cool thing you can actually get away with making money every week and actually having that either replace your real job, your current job or just substituting it are complementing it right, having an additional revenue stream. When you start your own business or you do anything in life, you learn that diversification and additional revenue streams is always a good thing anyway . The third thing I want to talk about is that day trading you can do in all market conditions, so the market doesn't just have to be going up, doesn't have to be going down. And the most important thing is that it's doing something right. You don't want to be trading a flat market that that's a dangerous time for a day trader. But no matter what, crypto currency typically doesn't go flat very long and it's a lot of fun. So if the market is going down consistently, actually right now we're in a bear market for over a year and it has been one of my best years simply because we are trading short term movements on the way down and looking for bounces, looking for specific patterns and they're happening over and over again. So it's a very, you know, predictable, and it's a great way to be consistently profitable in all market conditions. I know, and these are even all long positions. I did take a few shorts, but right now I'm not taking any short positions, just simply playing some bounces and things like that so you can trade in all market conditions. The market does not have to be going up to be making money, and that is an amazing point. With swing trading, we'll talk about a little bit. It's a little different. You do actually need a, you know, a bit of a bullish market, or at least a bull run to be profitable unless you're taking short positions, which we'll talk about a little bit later, although it won't really be our focus too much. So what are some of the cons? Why would I meet, maybe want to avoid trading because obviously day trading isn't for everything. Everyone, nothing is for everyone. And maybe it's something that you are really excited about, or maybe something you don't really know. I always like to say the best thing to do is try a little bit, have a little bit on, then see if it really works for you. But let's talk about why. Maybe some you know, it's a negative aspects about it. One I would say is you really need to be focused when it comes to day trading. You don't want to. You know, you know, be really sick or you don't wanna be hungover or you don't want to be really tired if I'll actually like to keep my trading typically only till noon. So it right in the morning. I like Teoh. No, do one or two trades on and then basically be done with it or throughout the day. Simply have some limit orders going or look for key positions. And then if I see a really perfect set up, then I'll get into it. I never want toe, you know, force a play or force anything, and that is really difficult. Even now for myself. Sometimes you know, I feel like I need to trade or something like that, and that can get you into some very sticky situations. So with some of the Khan would be, You need to be focused. You need to have a lot of patients and, you know, really wait for that perfect set up. You don't want to just get, you know, emotional or feel like you have to trade and also in your in a bat set up and then you lose . You know, 1 to 3% in like a snap of finger, which can happen so it can have can be a little bit dangerous. Anyway, the next thing I want to talk about is emotions kind of like with patient patients having patients on what I talked about before. With focus. You you need to learn to be very detached, I would say from your position. So you don't want to be trading with a large amount that's gonna make you freak out or get really uneasy about your position. As you get more comfortable, you can increase your position sizes, but you want to really be able to take a step back and really think about your entry and exit in a very calm and collective way. We're gonna talk a lot more about entries and exits later on in this course, and it's gonna be really cool topic. But just remember, you want to leave your emotions at the door when you are trading, and it is difficult and every trader he runs into the issue. But the best way Teoh control your emotions is set very realistic goals and don't trade with more money than you can lose. And that is a really good way to already leave a lot of that emotion out of the game. And that, I think, would probably be the best way. The next thing is there is a little bit of a learning curve. It's it's very tempting just to dive full into trading and, you know, full account size. Everything in a lot of people will make that mistake. I've made that mistake when I first started, and you want Teoh learn as much as you can. Maybe even do some paper trading, which is trading with fake money. Actually don't have a video about that plan, but I might if I get enough questions. Paper trading is basically yet, like I said, trading with a fake simulated account where you can make more or less riel trades, but they're you know, with fake money and see what would have happened, right? It's a simulation. Trading also can be a good way to learn. But I would actually rather learn with a little bit of cash if it's $100 or $1000 because then everything becomes a lot more realistic. I have a really hard time personally focusing on something that is not tangible. So if it's like, you know, like I said in one of the introduction videos, it's like playing a game of poker with your friends and not having any real money into it. Eventually, everyone just doesn't really care about the game and starts talking to their friends on their phone or, you know, getting distracted. But if you just play with 5 to $10 all of a sudden it's like the most interesting game in the world, and that's kind of how I feel about paper trading. Everyone's gonna have a different feeling about it. That's my personal take on it. So there is a bit of a learning curve that is the most important thing I wanted to say. So some of the concert I would say focus. You have to be focused. You can't be in the wrong mindset. You There are some emotions attached to day trading, and things can get really sticky if you bring too many emotions into day trading. And the last thing is there is a bit of a learning curve. So let's focus a little bit now on my strategy. What is my stress strategy when it comes to day trading and one is simply having very, very clear goals. You want tohave a right mindset on what your expectations are, and this will allow you to really trade efficiently. For example, let me talk about risk reward a little bit. So when I go into a trade, I like to go into a trade where there is a downside that is, let's say, 1% or 2%. But then the upside is anywhere between three and 6%. So I looking for a 1 to 3 ratio and where this is going to make a lot more sense once we move over to the charts later on, when I talk about ideal entries and ideal exits and all that fun stuff, but right now, just stick with me a little bit. You know, Maybe write a few these things down and I'll talk a little bit more about I'll give a few more examples to help clarify things, maybe a little bit. So what a 1 to 3 ratio is is any time entering a trade? I am looking for a potential return off three times of my potential risk and what I will usually dio even though maybe the potential return is 3% 6% or something like that. I like to get out of my trade between two and 4%. So I'm always trying to exercise safety first and, you know, take my profits when they're on the table. This is going to make a lot more sense in the future. But right now I am trying to just stick to my urges to show you the charts. But I just want to give you guys a quick overview. So just remember, having very clear and conservative goal You don't want to get too aggressive and, yeah, stick to a very good risk reward. We're gonna dive more into risk award on the charts in a little bit. Anyway, Liquidity, something that is really important is you wanna have good liquidity. Let me actually dive into a little bit. Not necessarily charts, but a coin market cap to talk about liquidity and market cap because this is really important when it comes to day trading. All right, let's move on over right now. Here you here, you can see coin market cap. And this is a website that lists a bunch of different cryptocurrencies. And I've already talked about this website just a little bit in one of the introduction videos, But here you can see again the market cap and then the volume and these air two numbers that are critical when day trading. So you don't want a trait anything that is not liquid? What? What if you don't remember? What I said about that earlier is liquid means you can get in and out of the position very , very easily if you the worst thing that can happen when you're day trading is getting stuck in a position. So you want to avoid that at all costs. And the good way to figure out is something liquid enough is you go over here to the volume the 24 hour trading volume. So how much are people buying and selling and anything I would say that is over, You know, 10 to $50 million in that kind of range You want to go over That, I would say, is possible to day trade. Otherwise, you could maybe swing traded. We'll talk a little bit more about that later on, but you want to be able to head your head your risk when you need to get out of position. So let's say the prices falling down like a rock and you want to get out. If the if the trade or if the currency is not liquid enough, you might not be able to get out of that trade for a you know, whatever your risk management strategy is, because you're gonna be market moving the market too much. So just keep in mind. I would say very safe currencies would be anything in the top 20 for now. So here you can see that everything is over. I would say 10 million. Even Cardinal, which is a smaller cap coin, you know, trades on average 40 million today. These are all things I can get in and out of right away maker coin This is where it gets a little sketchy $1 million in daily volume. I probably would not day trait that I might look into swing trading that, but I definitely would not day trade it. So you have most of these things in the top 20. I would I would day trade. Any time I say it gets under $10 million it's a little iffy. You also want to pay attention to which exchange is giving you that liquidity. So let's go over to Iota, for example. So if we could make on Iota, hopefully I clicked on the right thing. You can see again down here on whatever you exchange, you're actually buying and selling on. You can see the volume on here again for that specific exchange. So you have kind of the total volume on all different exchanges. But then you have the explicit if IQ exchange your trading on, and if you click or if you go down here, you'll see that on finance. One of the biggest exchanges only does about $3.8 million daily in volume. So maybe that is not exactly something you wanted a trade, either. If you're trading with a really small account size. I would say anything under $10,000. Then I wouldn't worry about it too much. But try to make these good habits at a time because you will get stuck in a bad trade and not be able to get out of it. And that is the worst thing that could happen because you could lose a lot of money very quickly. So just keep that in mind. Liquidity always check liquidity. I like to trade like coin, for example, because it has huge liquidity. And I could go in with, you know, $100,000 it barely affects the market whatsoever. So as my count size grows and I want to grow to, you know, steadily to $50,000 and maybe make entries between $30,000.20 and $30,000 per entry. So I want my position to be executed right away without any problems. So that is something to look look for When you are treating crypto currency and really anything, if it's equities or commodities, will commodities are a whole different story. So yeah, agrees Cryptocurrency, you want there to be liquidity? Let me see if there's anything else I want to talk to talk about before I ramble on a bit too long. Yes. So we talked about the goals and risk reward risk word. I'm gonna highlight a lot more. One be dive into the charts. I didn't want to dive into it right now because it's just a whole big topic. Just remember. And 123 risk reward. If there is potential downside, how much will you go or how much risk are you gonna take before you will get out of a position? And if you let's say you take you want to take 2% max Risk will. Then there should be a potential upside for 6% gains. 6% returns. Cool. I think that is everything I want to talk about in this video. The next video we're gonna dive into swing trading a little bit, give you a quick overview so you know what to expect and kind of start formulating a foundation toe. Learn from all right. We'll dive into that video next. Jo Jo 16. Day Vs Swing | Swing Trading Overview: Hello and welcome back, everyone in this video, we're gonna be talking about swing trading again. It's gonna be an overview. So we won't be diving into too many of the chart specifics. But I just kind of want to give you guys an understanding of what some of the pros are. Some of the cons and a general overview of my personal strategy. All right, to get started, I need to sip of water to get started. We are going to be looking at the pros first. So some of the pros are with swing trading, as I talked about in day trading. My profit ranges between two and 4% and I usually take profits even earlier because I like to play very conservative, get my profits off the table and look for the next trade with sweater. With swing trading, you have a bit more wiggle room, right? You're not looking for just a quick meat of the move kind of play. You are looking for larger gains, larger swing swings to the upside, and that is something that's a really cool about swing trading. The potential profit is obviously much more so to give you guys a quick example is, in the future, we're gonna be talking about shark patterns a lot, and one of my favorite chart patterns is a stair stepper. And that's basically when you go up and you go horizontal for a little bit. And then you go up again and horizontal again, and this pattern sometimes takes a few days or a few weeks to really play out. So it's a little bit hard day trade. But what I like to do when I see one of these, especially on the one hour chart, for example, is I will still start building entries into this position and wait for a you know, that big break to the upside. And that could be, you know, who knows, maybe 10% or something like that game. Actually, I posted a video below, which highlights exactly this Andi. It was one of my swing trades that I made, I think in 20 2018 Yeah, I think it was Well, it was the end of 2017 anyway. So a great example of what I mean by a swing trade. You gonna hold him bit longer? It's not a full on investment, right, And investing. I might be doing something for year 23 years, and I'm really trying to build a long term portfolio for really long wealth creation. If I believe the fundamentals of that project, right, so it's a bit different. It's basically like swing trading just on a bit longer. Time horizon Swing trade will typically last between No. Three and uh or anywhere from one day Teoh, you know, a week, sometimes even 23 weeks in the trade video below. I think that was actually two months, almost two months. So, yeah, the time frame is a bit more variable, But yes, swing trading is awesome for a lot of people, and it's actually mostly what I do now on the equities markets. So another pro is the pure fact that it can fit your schedule a little bit better. When you're day trading, you have to really be watching the market. I would say I mean a lot of time I make my trades. You know, when I'm not dinner or are you know, when I'm sleeping, like completely on autopilot, since I have these limit orders, but then I'll get out really quickly. All right, I'm making a quick cap on my profits. And usually I only like to trade on the computer and I can get in and out of positions. But it allows me to make constant revenue streams thes swing traits. They might be better for some people that are have a really busy schedule, and you can place these limit orders at key areas and look for a bit longer picture. So a lot of you guys will probably really like swing trading. And I think it is a great thing for everyone to get into. Um, so yeah, if it's more people schedules and more coins. So what do I mean by more coins is you can trade a lot more coin. So the liquidity I was talking about in the last video isn't as big of us as a factor for swing trading, mainly because I don't try to get in and out very quickly. Sometimes I'll be building up a position out in like 34 trades, and then I'll be getting out in multiple trades as well, and that is something that works very well with swing trading, and it's a bit harder to do something like that with day trading. So that simply means that since I don't need that constant liquidity, I can trade some coins that might be a bit smaller to trade, so their market cap is much lower to 24 hour. Volume is much lower, which means maybe it takes a bit longer for my position to get fully entered into the market, because there's not that many people buying it. But it doesn't really matter because I have a longer term horizon. So, yes, some pros to sum up is potentially larger gains. A bigger US are more flexible scheduling away, since you don't really have to be watching the market as much. So you guys might really like it on. And then you have more coin selection, right? You can. You can trade more coins. Potentially. Some of the cons are you have more market risk exposure. So every day that your position is open, you are exposing yourself to market risk. Market risk is anything that, um, no any event that can affect the whole market. You know everything from a war starting to I don't know, some economical crisis or just some bad news on crypto itself. All these things can really affect the market. Maybe the Federal Reserve is, you know, messing again with interest rates. Are you know, really, who knows what it is. So every day you're in a trait you are dealing with, something that can really affect the whole entire market. You're put exposing yourself to risk on that. And that is why I may be Day Trading is but has has a bit more of a win on that because you're in and out of position. You never trade before news. You're always trading momentum after the news. And so, yeah, there's a con with swing trading. Um, another thing is, you kind of need the right market conditions, so you can't always swing trade. And you might be really tempted to swing trade because it's like I you know, I really want to get in this position where I have this, you know, Capital that's sitting around for three weeks now are maybe three months, and I just I just can't get into a position, because, um, I don't know. There's no good market set up, right? So that's that's a huge problem with swing trading. Sometimes I have barely been swing trading this bear market because the market just keeps going down. So if I bought a position, well, you know, I would be going down, and I will keep on having to cut my losses. So when your swing trading, you typically want to swing, trade a bullish market or when there is a specific indicators like an arse. I die virgins that we'll talk about in a later video. I kind of give you an indicator that we might be in for a short term. No bullish rally, even if we're in a bear market. So you have the cons are the conditions have to be right with day trading. You know, you're looking for specific set ups, but they happen every day, right? The market goes up and down 5% a day almost every day, so it's very easy to find a get 12% right out of the market. Quickly, day trade be done with it and, you know, constantly build your account size with swing trading. You know, sometimes you don't trade for a week or two or three. So that's you know, I would say a little bit of a downside and It's a bit harder to make consistent gains with that. But I love love, love, having some swing positions out there and then being able to close those in, you know, a few weeks because this really kind of compounds your gains in a whole different dimension . I think we're gonna be dealing a lot with swing trading. You guys are gonna love it. And for some people, it might really be the way to go. You do not want to remember, though, that you don't want to get over aggressive. You don't want to lose your patients and then all of a sudden be in a bad situation with swing trading. Yes, let's talk about my strategy a little bit. We'll drink water. There's so much to talk about. I found the hardest part about these videos is not talking about everything at once. I keep wanting to dive into different topics and going on tangents but trying to control myself. So the biggest part of my strategy, I would say, is the trend kind of like I talked about in the cons that you have to wait for the right market condition. The A a thing that people talk about a lot of trading is or saying Quote is the trend is your friend, and that is extremely true. If you trade against the trend, you can really put yourself in a bad position. And like I said before, basically, if the market is going down and consistent use to go down, that is not a good time. Teoh obviously start swing trade maybe wanted a trade. Some volatility on that downward move. But swing trading, we'll get you in a rough position. We're gonna talk a lot about indicators to identify the trends like 180 day moving average RS I simple volume indicators and just price action of So we're gonna dive a lot into that soon. But right now, I just want you to know that my strategy is a lot about where the trend is going right and being following the trend. Being with the trend, right, we're trying Teoh, you know, not predict which way the market's going. We simply want Teoh ride the market when it's going a certain direction and you're looking for confirmations, right? We need we need to find confirmation. So a lot in the next video we're going, we're going to talk about indicators. We're gonna talk about key entry points. These are all going to be used to try to figure out which way the trend is going and kind of being a bit more confident with our positions. So we'll talk a little bit more about that on that following videos. The second thing is, or the third thing is patterns. Think about patterns went in my trading strategy. I love a clean pattern like I talked about before is stair step pattern pattern is very clear, and they almost always play out. The same will be no between two and four stairs. And if it's if it's gonna be four stairs, usually the third stairs much more shaky. And there's things that are kind of their patterns for a reason, right, they repeat, repeat themselves and check out the video below. It's on my YouTube channel, and it was one of my cleanest. I would say, um, stair stepper patterns. So the other thing is, my strategy is averaging it. I typically don't go into a swing trade all at once. I'll buy maybe 1/3 of my position the first time and then I'll wait for a second dip and or something like that will buy second entry. And once we have more confirmations and I feel more secure about it, I'll maybe averaging a little bit more for a more for at a higher price point or load point price point, it doesn't really matter. It really all depends on how many confirmations I have and is the price showing a good sign of moving up or down if I'm short. So really looking for confirmations, having a reliable pattern following the trend and you're just constantly averaging in when it comes to my risk management, I will typically get out just like a day trade. So a day trade, my risk management and my swing trade. I'll talk about this now. Even I'll dive into this lot more later is between one and 3%. I want to get out of a trade at 3%. I get out at all costs. I have a stop loss, the market stop loss that we talked about in the introduction and if it's usually you know , goes towards 3% bounces back up and then something crazy out that's happening and the volatilities coming in and you know, nothing really looks good. I'll get out of that trade because I like to say if if something like that happens means my thesis, my trade thesis, which is, you know, maybe I am looking for a breakout bounce or I don't have a really clear part of my head. But all of a sudden all this other stuff happens and that trading thesis is no longer valid , right? My strategy is broken where my my plan was broken. So when that happens, I'll wait maybe sometimes a few minutes or or whatever the condition is and just get out of that trade for a small loss as a limit order. So I save some fees so I'll get out, you know, 1% or maybe even just break even. Get out where I got in with second, your kind of thinking like, Oh, maybe this is gonna happen or Well, I'm just gonna hold a little bit longer and we'll see. Or maybe, you know, fuck it. This is a investment like I'm just gonna hold this. Still, it's profitable. Like with a second you're dealing with stuff like that you're playing with fire. Hope should never be your strategy. And if the price is going down, just get out. There is nothing wrong with taking a loss, even if a lot of traders some of the best traders I know their win ratio is only 70%. Eso think about that for a second. That means they're still wrong all the time. If they trade 100 trades 30 of those trades they closed for loss. So just keep that in mind. There's nothing wrong with taking a loss. What's what is wrong is taking a big loss. You never want all a sudden be down 70% in all of sudden, Your $10,000 is not $3000. That is what you want to avoid. So there's nothing wrong with taking a 1% loss or 3% loss. At 3% is a little high, but just, you know, you got to cut your losses at some point. So that is definitely part of the trading strategy and risk management that I want to dive into a lot more, uh, later on. All right, guys, I think that's everything for this video. Do you have any questions or if you If you are confused later on what swing trading is. Definitely. Just give this video another watch. Everything helps to be reviewed again and again. And throughout this course, things are gonna make a lot more sense. But it's always gonna help to review and come back our guys. I will see you in the next video, Jocko. 17. Day Vs Swing | When To Day Vs Swing Trade: Welcome back, everyone. In the last two videos, you learned a little bit about day trading and a little bit about swing trading. Now, what you might be wondering is, when do I know I should swing trade instead of day trading and vice versa? Well, it's all fairly simple and straightforward, so I'm gonna try to lay down a little bit about a rule thumb for you guys in this video. All right, let's get started. So the easiest, best way to get started or to know a bit about when I should a trade when I should swing trade is figure out what works for you if you have a really busy schedule or you just don't think you want a day trade, even though everyone should, and we're actually gonna be doing a lot of day trading in. Basically, it's the most type of trading that we do because it's very consistent, and you can really build on account size quickly with day trading. But let's say you you just don't have time to get online right, and you know you're gonna be gone all week or something like that. I know sometimes when I'm at a convention or I'm doing something. I try to focus on swing trading if the market allows it. So you know, if you know you're gonna be really busy and you kind of see a good potential set up coming together, then maybe that's a good time to swing trade. Maybe then would be a good time to start averaging in certain positions and waiting for a break out. And then, you know, selling into strength s Oh, yeah, keep that in mind. You can always place limit orders if it's an exit order or an entry order ahead of time. So that is a beautiful thing that I love about trading. You don't actually have to be online to trade some of my best trades I made when I was sleeping simply because I set up the right orders ahead of time. So we're gonna dive into a lot more of entries and exits and stuff later on. But just keep keep that in mind that you can do that. That is entirely possible. The next thing is you never, ever, ever want Teoh mix up your training's styles and strategies, right? If you're going into a day trade, you need to keep in mind that this is a day trade. This is not an investment. This is not a swing trade yada yada. Just keep that in mind. Be very focused and specific with whatever you're doing. The worst thing you can do is halfway through trade, change your mind about it and then still be in that trade. Right? You. Every trade needs a thesis. Can you stick to that thesis the second it's broken. You need to get out. Or if it if comes to fruition, you need to get out as well there. So many times when I first started trading that I treated a day trade like a swing trade just because I was up right? So let me give you a quick example. I'll be in a trade, right? And then it goes up 3% which is usually when I want to get out to, you know, between two and 4% want to take my profits off the table, clothes that position and be happy. I just made you know, 34 $500 depending on my entry side size. But then I would get greedy or I'll get overconfident and I'll be like, you know what? This this trades going Exactly how I wanted to let me keep holding it and wait till I'm you know, 67 10% profit and then I'll get out right? And then before I know it, the market goes down and I get out for 2% loss or something like that. That has happened to me many times in the past. I don't want it to happen to you. If it does happen to you, Hopefully it only happens once or twice. But yet just try to avoid that at all costs. If you were day trading, note that you are day trading and Daddy's is exactly what you're doing today. There's nothing wrong about opening and swing trade and opening a day trade at the same time. That's no problem. Just make sure you're focused on what that specific trade is, right, and that is why we do documentation. That is why we write down all of the trades ahead of time. We know what we want to get out of it. We know exactly where where we want to get out of it, where we would get out of it. for a profit where we want to get out for a loss way, document all that ahead of time. So you don't mix up these trades. That is a key thing. Never mix up a trade, just, I don't know, Like, write that down somewhere. We're gonna talk a lot more about trading rules and trading commandments and all these fun like, Well, it sounds a little strict and like overwhelming rules. But yet there's there are rules and you want to stick to him. You just want to be very focused, not have cluttering your mind. You always want to have a plan, right? You never. It might be a bad plan, but no plan. I mean, a bad plan is better than no plan, and you just want to be very focused and never mix up a trade. Another reason you don't want to mix up a trade is because if I wanted to invest in a certain coin, then the entry I would have had for that investment would have been totally different. Maybe I would have looked for an indicator that told me that right now we are at a huge overbought signal and maybe I only want to get on my investments when there is an overbought signal. Right? When I'm day trading, I'm looking at completely different indicators. I'm looking at a price and volume and maybe some, you know, price action and different things like that. And I might be getting in at a really high point, which is fine. If you're day trading right, it might be fine if, you know, the price just went up 100% and they bounced a little bit. And I'm looking to do a nice little, you know, 3% balance near the top because those are great setups when you're day trading. But if you're in investing, that would be a horrible time to get in because the prices went up 100%. You never really want to get in When something like that happens for a long term, you know, investment. You want to wait for the price is low. You wanna buy low sell? Yeah. Buy low, sell high. So you So what will happen sometimes if you're day trading all sudden, you're buying really high, which might be fine for a day trade. If you're looking for a scalp or something like that. But then if the trade goes against you and you keep holding it and you're like us like screw it, I'm just gonna you know, this is an investment, and before you know it, you're holding it for the next year. Plus, and even in the next bull run, it takes forever for you to break even again. That is, that's what happens when you buy high on a day trade and turn it into an investment. So or not even if you buy high. Just don't ever let a day trader swing Terry turn into investment or a swing trade. Um, you know, a date returning to the swing trade, it's just it's a messy business. You know, stick to your plan ahead of time and you will be a much happier and more consistently profitable trader that way. Um, something I should probably note is if you if you do, let it day trade turn into investment. We often time. Call that, you know, holding a bag. And the reason it's called holding a bag is because there is nothing in the background. You're just holding an empty bag, and that is what a day trade. Turning into an investment really is just it just a bad decision. And it just kind of keep pulling your account down. And the worst part about that on top of well, losing money is your also tying up capital for a long period time that capital you could be using to generate profits with day trading or swing trading. So why did you just waste the opportunity and letting a bad trade turn into investment? So, yeah, sorry for ranting about that, but that is the biggest biggest No, no. When it comes to trading, I think a lot of people make this mistake that are new to trading. So yeah, just avoid it. I have definitely made the mistake when I moved to equities. So just try to learn from me and, you know, just be aware about it. Being aware that this actually happens is sometimes the most important place to start the last point. I want to talk about his division of accounts, and the reason I want to talk about division of accounts is because that is actually the best way to mitigate a lot of these problems. And we talked about coin tracking dot info earlier in the set up video and all of your trades kind of get documented there. Now that's fine. I like to only have one point tracking dot info, but what I like to do is when I document my trades on trading journal dot CO. In the spreadsheet is, you know, each trade and you notice in the chart that there was the day trades and then swing trades and the investments right. Each one had its own line. And that is a way for me to know which trade is doing what, what is generating different returns. So it's it's having that clarity in your mind. Where am I going to document this? Oh, it's a data. I'm gonna put it over here So you want to divide it in your journal as well as in the charts and just keep everything clean? What I actually do sometimes is entirely separate my exchanges. So finance, for example. I have a swing, a investment account, and I have a day trading accounts. I never even mix up the capital because that's going to start messing with my head. So whatever it takes for you to not or to better avoid one account, turning into another one trade during into another. You know, do it works for you. Just try to divide it and keep everything as segments. It is possible, because when you are organized, it's gonna be better for your trading style. And it's just going to make you feel a lot more, you know, give you clarity and focus and give you a breath of fresh air. You don't want everything getting cluttered and, you know, not really knowing what you want to do with this trade and things like that. So, yeah, just keep it clean. No. When you want a day, trade no one. You want to swing trade. We're going to talk a little bit more about investing in crypto and just investing in general and how to invest properly on uh, yes. So we're gonna dive into all that fun stuff later on. I think that's everything for this video. So I'll see you in the next video 18. Indicators | Price & Volume: Hello, everyone. And welcome back to a new section or lesson off this crypto trading course. Anyway, in the next few videos, we're gonna be talking about indicators. And in this video, we're gonna be talking specifically about two indicators. Price and volume. Now, these are the most important indicators that you're ever gonna learn and use throughout the rest of your trading and investing career. Now, you might be wondering, why are these to the most important? And the answer is very simple. The next videos, we're gonna be talking about some other indicators like Moving Average and Orestes I. And in the future, I want to add a V wop video. These are all important indicators that help me sometimes with my swing trades, investing and even entry and exit points. However, they are all simple derivatives off price and volume. Now what do I mean by derivatives? Basically, they are a simple calculation or complex calculation based on price and volume. So all they are is using what you already have in front of you to maybe give you a better indicator in a cleaner chart or trend trendline about something that you might be interested in So if you can read price and volume, that is all you will ever need. And actually most the time All I ever use and have in my chart, especially when im day trading is price and volume because it won, it keeps your chart very clean and it is not very distracting. So actually, the best thing to do right now is let's just go over to the chart So you guys can maybe see a little bit more of what I'm talking about. And the chart we're gonna be talking about right now is Bitcoin. And in this chart, you see, all we have is the price and these red and green lines. And then we also have the volume down here and the volume shows you can see it, maybe some spikes and stuff going on. And there's typically a correlation when you see an increase in volume in a big move in the chart. We're gonna be talking a lot about that, especially when we talk about support and resistance lines and in the chart patterns in general, because the chart patterns are really important about price and volume, and you can already see some drawings here, and we'll talk about why I place these lines, how you can place these lines and how you can trade off of them. But the most important thing, first of all, is just remember, keep your chart clean and, yeah, keep it very simple. The best thing Another good thing about price and volume is that everyone is looking at price and volume. Not everyone is looking at, you know, a very complex maybe Fibonacci or some other indicator. But everyone knows price and volume and key support and resistance levels. That's why we're gonna focus on this and on that in this course, that's all I trade. And that's why I'm consistently profitable. So we like to keep it clean and simple. I think that's everything for this video. The one thing I want to mention is I'm not gonna make a video on candle charts because even though that's what we use because they're very simple, and you can throw a quick Google search on what is a candle chart, and it will tell you everything that you need to know if in the future I have a lot of quest requests on, you know, talking about what a candle chart is, then you know, I will throw up another video and I'll let you guys know in the discord yet. But for now, this is all you need to know that these air the most two important indicators that you're ever gonna learn. So make sure to keep that in mind. And in the chart patterns, you're gonna actually understand why they're the most important. And you're gonna really get a better feel for, you know, when the price is right to enter and exit a trade based on trends and volume that you see coming in. But right now, it just keep in mind. These two indicators are basically all we're ever gonna be using. Alright, guys, that's it for this video. And I'll see you in the next one. Don't go 19. Indicators | Support & Resistance: Hello, everyone. And welcome back to a new video in this indicators. Siris. In this video, we're going to be starting off kind of where we left off in the last video talking about price and volume because we are now gonna be focusing on support and resistance. And this is all about price and volume. So support and resistance is something you're probably gonna end up loving because it is or it can be super reliable. And it's great to place limit orders around support and resistance lines and is one of the key reasons to why I am a consistently profitable trader. And it's one of the most used techniques that I implement in my trading when it comes to day trading, swing, trading and investing so all around, it's really nice. And let's quickly go over to the chart because I think that's the best way to talk about these lines. The first thing we're going to actually talk about is how to draw these lines. So let's do that right now. And right now again, where we left off, we were still in the BTC sharp chart, but right now we're on the hourly and the best way to draw these lines is you typically want to start from the outside and you want to move to the inside. The reason you want to do that and what I mean by outside is you want to start from the bird's eye view, right? You want to start in the daily chart, maybe even the weekly chart, depending on how far your asset class goes back in this case. Bitcoin. It goes back pretty far, so let's just actually go to the daily chart. And the reason again you want to start with the daily is because on the daily you can see much more important price zones. As you zoom in, you'll find more intraday Price owns that are very key and important, but you want to find price zones that are relevant on a multi day and multi week level. So something that has been touched multiple times. And then there was a big break out from that level. All right, this is the BTC chart right here, and we are zoomed out on the daily, and as you can see, we are back here on 2018 and then roughly summer, 2018 over here and I started off drawing some lines in this chart so we can, you know, get get a move on a little quicker. But basically, I have these light blue lines that cover a very large time zone. So when I move in, I can actually indicate one of these blue lines. And remember that this is a very, very critical ah line over a much longer time period. So let's actually give an example. Let's move our way from the bottom up and you could see here I drew an initial line. All I did was I went over here and I went for the horizontal line. You can also press all to h but solid. You have fun with your short codes on your own time. It's one of those things you can Google again, and I won't spend too much time on on this video because it's a very customizable thing. So to draw one of these lines, you you could kind of just click it after you click this and then you can move it around. Anyway, I'm not gonna draw another one, But now, now where do I draw this line? So I just put it anywhere I know what you want to do is put it near a critical area. So something like a former high that was not able to break out of. And then the price retracts typically. And then it tries to break out from that level again and might try several times. And eventually it cracks out from that level, and then it comes down. Maybe even retest that level to give a confirmation that this is a key support and resistance area. And remember, there's something you should keep in mind ahead of time, so it might be good. Just talk about this right now. Any support level that is significant will become a future resistance level, and vice versa. A future resistance level will become a future support level level. So keep that in mind and you're gonna see that a little bit more right away on this first chart so you can see. So let's zoom in a little bit over here. So here is a pretty key support area. I mean, resistance area. So here we kind of topped out. And then you can see it right? When we approached this $3000 area. Big coin basically completely gets rejected and starts going back down. And then for the next few months, we'd We don't come back to this level and we don't process level until, um, this green candle right here and this screen level we come up, we test that level again, we see a bunch of sellers, probably in the order book, which we're going to talk about when you see a wall of Sellers and Order book, it literally looks like a wall of sellers. They're just a massive amount of red. So people trying to get out of B. D. C at that price, and then we So we come to that level, that wall of sellers, we get scared off and then come back down. And again, this is actually a bullish sign right here, because we're holding our highs. We get scared off this level, but we don't completely go back down. We're holding our highs, so we're forming new low, so higher lows. That's a very bullish indicator. And as you can see here, all we're talking about is price, and we're gonna be talking a little bit about volume. And this is how you can learn to reach arts with no other indicators on your screen, which is really nice, because if you have too many indicators, it's really going to start confusing you. You at one point anyway here you can see we finally broke over the $3000 level, and you can also see down here that we actually have a bit more volume, almost twice amount of volume that we usually dio and what we say a lot and trading is that there is no real breakout or breakdown unless there's volume behind it. So if you have twice the amount of volume, as you usually do, it's probably a really good indicator that there was some sort of break or confirmation in some way. So and that is exactly what we have here. We have a break with twice the amount of volume as the previous day above $3000 level. And then what happens is we have a nice little rally into this area right here. The $5000 level and right around this time is when I drew this line. I don't remember entirely when I did it, but this is something I would do and I would probably draw this line with maybe a green thing because it bit it's a bit more short term. And then eventually over time, I replaced it with one of these blue lines because it has a huge amount of significance and you'll see actually in the future that we come back down and retest this line in the future . So let's quickly go back to over here. So we finally broke out of this $3000 level here and now we re test this. Now, we tested this $5000 level, and this is basically our new high become over here. This is the high that we were able to reach. And then at that price, there is a lot of people that wanted to sell. So this was no. This would be a future resistance level because we were not able to go past this level. And that is something that's really interesting to keep in mind for a future time. So what happens? We get rejected from this area, and we now go back all the way down to this $3000 level, and you can see here that we tested his $3000 level. Huge volume comes in, which means a confirmation of this support line. So now we know for sure $3000 is a very critical point. We've had roughly three confirmations of this level, and it's something that, most likely and after a bullish run will be an interesting point to get back to as in a bear market. So that is why this is going to be a really critical area. And what we had here is a nice run up. When we came back to this $5000 level, you can see it first. We kind of got a little shy. We got a little rejection. We lost a lot of momentum in this red candle, but eventually we broke up and we broke up again with a huge amount of all you. So that is why these are really key areas. And then we kind of ran up here. We made another high, and we kind of got stuck here, kind of forming a what I like to call a stair stepper or an ascending triangle. And we'll talk a lot more about these charts. But there's no or the ascending triangle pattern specifically later on. But all it is, there's no point not to reviewed now. It's basically we get rejected and we keep kind of getting rejected around a certain area, and all the while we're getting rejected at a top. We are building higher lows, and that is what you see here. Higher, low, higher, low, higher, low. And eventually we cracked this level again with volume as a confirmation and and that's what it's all about. Um, so yeah, let's keep moving on. Sorry, I'm just having some chart issues, OK? Yeah. So what happens now? We come back down to this roughly $6000 level and it looks like we almost broke it. And and here is a really important reason to know a little bit about more about candle charts. And what happened is we did break it. But then the body of the chart came back up, so we only dipped under it very temporarily, and we came back up. That's actually a bullish sign. Why send a bullish sign? It's because we did not close the day under this line. And this this line, if it's, you know, a few percentages off as in, like 0.1 or something like that point to. It's not really important because maybe I drew this line a little too high. Maybe are due to low. The general area is the important area. So I would say this $5900 areas really important and as we broke down it on and then we came right back up. It means there is a lot of support in this zone. So this is basically a new support zone, something that actually probably be really good right now is to maybe even fill this area up. I'm not even really sure the best way to do that, as I typically don't do it. But imagine that between 5000 and $6000 is kind of like a green by area, and that is what we see here. The price comes down, we get rejected or there's a lot of buyers and me bounce back up and we form a green candle the next day. That is a huge, huge confirmation that there is. Buyer's interested in acquiring BTC at that price, and we're probably going to see a lot of bullish action in the next few days or weeks when that is exactly what we saw here. So now we have our long term time frame. How can we use that to really benefit? Are trading well, let's zoom out a little bit again and then move over to a more present time. Actually, before we go on the hourly, you can see here that after we had this big bull run way came down and tested this roughly $6000 level again, $5900 level. And then, as we had a consecutive kind of a Bears triangle forming, you can see we bounce off this level several times, which means there's a lot of buyers in this area, and that is the most important thing to remember. With support and resistance. These are buyers owns and Sellers owns. This is where people are interested in selling Bitcoin or buying Bitcoin or any other asset . We could talk about Big Point like one theory doesn't really matter. It all works the same. It works with equities, so normal stocks or with commodities. It works with everything, so just keep in mind supporting resistant look. Resistance zones are critical. There's also something else to keep in mind, and this is the last topic that I want to cover in this video is the expression of catching a falling knife. So sometimes, after a support is on a support zone, it's our guys a lot to talk about. So sometimes after a support zone gets tested again, again and again, it's going to start wearing away from the buyer so eventually maybe, if there's 1000 people looking to buy, you know, $100,000 worth big point at a certain price. And every time the price gets to that level, a few of those people get chipped away, right? And that is exactly what happened over here. Every time we touch this level, people get chipped, chipped, chipped away, and eventually we cracked this level. And when you have a crack of the support level, weird things happen and sell our sell orders get marked. Remember, we talked about market orders where basically you have a stop loss, and if the price reaches that stop loss, your your order gets executed at whatever price. Well, that is something that a lot of a lot of times you'll see around the support zones So when this supports all gets cracked, there might be a huge amount of stop loss orders here. And when all those stop loss orders gets triggered, the price runs down because it's just a bunch of orders that are automatically getting triggered. Two people basically saying and get out of my position. I don't want to be here anymore, and that's what happens. And in a bearish market, you really want to be careful because when orders are being triggered like that in a very quick pace, you might end up catching a falling knife. So maybe you're thinking while maybe there's a you know there's gonna be some support potential right here. So you put some order in there. But there's so much selling potential that your order gets shot right through, and now you are known as catching a falling knife. You bought the price when it was going down, and you don't want that to happen. So keep in mind, be careful of the support resistance lines because when they fail, they fail quickly. And what do you want to do is instead of maybe putting blind orders around these areas is wait for confirmations. You can see. We'll talk a little bit more about chart patterns and what to look for. For example, here's a falling wedge. It is a bullish indicator of a potential reversal. We'll talk about things like that to look for. But just remember, after several times of testing a support level, there is a higher chance that can crack. And in the future that support level will be now new resistance. We're gonna talk a lot about of resistance lines and support lines in all the chart pattern videos. But but definitely keep in mind that they are key areas that everyone's looking at because they're very easy to identify because as something breaks or there's a high. For example, in the future, if we have another massive bull run, what what the line is ever going to be looking at? What level is ever gonna be looking at? Well, everyone looks to the left and then they see okay over here we had a massive run up to around $20,000. So what happens when we come back to $20,000? Right. That's gonna be a really interesting area. Are we gonna break from that level so in the future, it's going to be actually be placing these kind of lines right around this area. And one will be at the top of the wick where we had some massive resistance coming on and one will be closer to the body where we had a bit more bouncing right around here. We even had a close up there near the bottom of this body. Yet between the $19,000 level and the roughly $20,000 level, we're gonna have a lot of resistance coming into play. So yeah, that's kind of how it works. And then you can always do him in, in, in and start trading on a very intraday level. For example, if I zoom into Bitcoin, actually, don't day trade Bitcoin too much. But I like to kind of draw some lines and keep some indicators. So these are trend lines, and then these are supporting resistance lines here, for example, in a very quick way, you can see that we crashed all the way down to here and this was a daily low. So I drew a line and extended it, um, out to here and you can see over here that we basically came down and okay, so we originally touch this line. Then we came back up and we formed a high here, so I drew another line. So this is now a support range, and this is something we can db trading a lot in. And let me quickly give you guys a quick run through on how this works. So we have now these two lines and were roughly in this little patch, we break down for a second, but the volume is low when we break it, and it's not a real confirmation. So we bounce back up and blown. Behold, we actually test this level again. Right here. The same thing happens. We try to break out. It's a fake out, doesn't work, and low volume break out as you can see, no volume right here. And then we break back down it. Finally, when we break, do break down it. There is a little red. Here is that's about twice as much as usual, and this is a bit more of a confirmation of a breakdown. And now you can see that we retested this level. And when we re test this level, there's now new sellers there because we broke a support level and then we go back down and this is something that happens over and over again. So you can see here with massive volume we broke about this level gets rejected by a former resistance line, and then we bounce back, so it just kind of really repeats itself. And this is something I talk a lot about in the watch list. It might sound a little confusing and, you know, witchcraft at first, but you'll see that this just constantly repeats itself. And as you add chart patterns to it, it makes a lot more sense. But these air, great areas to place limit orders and even day trades. So right now we're on a one hour early. I would zoom in a bit more to 5 15 minute chart for day trading, but this is kind of how it works. You start on a very long perspective and you work your way in and basically identify these key support and resistance levels and these levels you're actually going to be able to use when you figure out how much risk is in this trade and how much potential reward. For example, if you're entering a trade over here, potential risk would be near this support level. And if you let's say, entered the trade right here, you know you have about 1.7% of risk. And if you're gonna deal with that much risk, what is the upside? It should be 123 And let's say this resistance area was your risk, which you can see we tested perfectly and then came back down. We only have about 3.5% of upside. Not the worst trade, but maybe not the most interesting. Maybe you would hold off on placing a limit order here and wait till you are closer to the support line before you enter a trade like that. And that's kind of how we come up with very simple support and resistant lines trades. We'll talk a lot more about that in specific chart patterns and entries and exits. So I think for now I hope you guys have a decent understanding on what support and resistance lines are. And in the next video, we're gonna be talking. Think about moving averages. I can't wait to see you guys there. That's everything for now. Chow Chow 20. Indicators | Moving Averages: Hello, everyone. And welcome back to a new video in this indicator, Siri's. So in this video we're gonna be talking about one of the most popular form of indicators, and that is a moving average. You actually hear about moving averages a lot on the news or any popular finance block? Well, typically say something like price is a approaching a 200 day moving average or something about a death cross or something about a Golden Cross. These are all very interesting forms of chart analysis, and it's great because it's very simple, any beginner and can use it and look at it and really understand it right away. And that's what makes us more powerful or so powerful, because the more people that actually follow any certain indicator, the more meaning behind it, because people will actually trade off of it. That's why I like to say the most basic indicators are always the best ones. Now I won't talk about too much of the calculations or things like that, because you can always read a lot about any one of these indicators online and learn all that stuff yourself. The thing I'll be talking about is how I use indicators in my own trading. Cool. So let's start off this video by going over a quick saying and that you hear a lot in the in the trading circle or investor circle, and that is the trend is your friend. And this saying is definitely true. And using these moving averages will actually help you identify the trend if it's on the long term or short term, especially before you get better at reading price. Although like I always say, everything you need to know is in the price. But some of these indicators will definitely help you, and I use them all the time myself, especially as a confirmation. So if I have the thesis or theory on a trade, I like to see what some of the other indicators are saying. So let's go ahead and move over right away to the chart again and well, actually, start off talking about the 180 day moving average. Where are we? Here we go. So we are back to the BTC USD chart, and, um, I noticed on the video it's a little harder to see, so I apologize for that. Hopefully on the bigger screen. Maybe it will look better, but ultimately, you guys can always throw up your own trading view and kind of chart things yourself. And it's better to get a hands on experience and kind of just use this as the overview. So to get started, we're actually going to use the 180 day moving average. If you don't have that already on, your chart will have to go. All you have to do is go to indicators click on this button, then you can go to ID. Usually just type in moving average, cause I'm not really sure where it's gonna be hiding eso if you just tape in and you should probably find it yet. So we have moving average. And there's all these different types. You can always look into them on your own. But they're all fairly straightforward eso So what we're gonna use is the simple moving average, and I actually I actually already have that one up. It is right here the 180 day moving average. So I'm gonna start off with this one, even apply to the chart right now. And, um, yeah, we'll discuss this one a little bit, so it So here we are, back into the chart we were talking about in the last video. And here now you see the 180 day moving average and which is more or less telling us which way the market is going in a nutshell. Basically, if the price is above the moving average, we are in a bullish market. And if the price is below the moving average, we are in a bearish market, so you can see right around here. In the beginning of 2018 we had our first indicator that we might be in a bearish market. And lo and behold, that's exactly what happened. As once we were not able to hold above that 180 day moving average, we basically started art downwards trend into where we are now and you can see here I also have this trend line, which is something that I like to draw based on price and volume, that is basically my form of a moving average, and you can see that they're basically the same as we get into this later territory. Okay, so now we know the 180 day moving average. How to kind of use it on our chart and some of the pros. And I guess cons about it, and the cons about it is really it's a little delayed, and it's more of a longer term thing. It's not really something you can do a trade off of. As you know, if you know if the line is over here, how does that affect any of this going on down here? All we know it is that we are below the moving average and we are definitely in a bear market. So that's that's really one thing to consider. You can also move it into the hourly, actually like to use the four hourly quite often, and this gives you a little indicator of maybe are we in? So we're on a longer term bear market, that's for sure. But maybe we're on a short term rally, so maybe a bullish bounce. And if you zoom in a little bit, you can kind of see here that it gives you a good little indicator that we are on a little bullish rally. So I do like to use that as I zoom in a little bit again and uses indicator as a reference point. You can also see here that we broke out of this this bearish downtrend a little bit on the 180 day moving average. But then we held our high. So that's actually a very bullish sign, right? We broke out of this level with volume just like support and resistance lines. And then we held our highs again. Azzawi approached it. It actually acted as support and we made our way up and then eventually we came back down and tested this level. And as you can see, this is the support line that we drew ourselves. So everything kind of comes together. And sometimes I like to use my support and resistance lines and compare him against longer term moving averages. And then it really show you some really interesting entry and exit points. So right here would have been a phenomenal entry. So you can see here that we have $3700 resistance zone that is. You guys should remember that former support and former resistance are new now, new support and now new resistance. So if this is old resistance. What does that mean? It is now a new support and you can see we came down, tested this area and we came down and tested twice with with now the 180 day moving average coming up and you can see that also, this area had very little, I would say volume on average. There was no huge huge break volume like these points where we broke out. So there's Ah, little I would say momentum behind any of these moves, which means it's an even better indicator. So we have a support line coming in we have or a former resistance line which acts now support. We have low volume, and we have a moving average. So those three indicators really indicates that this could be a very, very good trade. And that's how we find trades in the charts, using very simple price and volume and then throwing on 180 day moving average to kind of give us an additional confirmation. Sweet. Okay, let's dive right into the next moving average. The E. M. A. 15. And of the reason I used the M A 15 is because it's actually an exponential moving average , and all that means is it puts more value on later activity or more recent activity. So if we had a lot of volume coming in and the chart spikes up, this line is going to follow that spike a little bit more aggressive than the simple moving average, which is what this green line is. Also, I made it a 15 minute, so it's even more aggressive than your typical, uh, 180 day and you'll see that right now. Let me just bring it up and have a drink. Water first, let's talk about and also we'll learn a little bit about why this is a an important indicator as well. So I typically don't trade off of the E M A too much. But I do like like a 180 day, like to use it as a confirmation or knowing if we're in a short term bullish rally or bearish rally. And here you can see that what we had was is you can see here that if you wanted to trade, you can use this 15 minute hour, 15 day e m. A little bit better. You could see Every time we approached it, we found new resistance and eventually we broke out of it from here. So you can use this more of a shorter term trading strategy, especially with swing trading on a daily. And we'll give you big indicators on me went to enter and exit trade trade. There's also something else that I want to mention and you might hear sometimes the phrase a bearish cross. What does What does that really mean? Well, you can google it, but I'll give you guys a quick a little demonstration and basically all a bearish cross is is when you have a shorter term, a very quick moving average go under a longer term moving average. It basically means that there is a reversal in the overall market trend and that is what you see. Here we have the 180 day moving average coming up and the 15 exponential moving average coming down. And once we had this death cross, it basically signaled that we were now in a reversal. So the market was in a bear market and that was a huge confirmation for that. So ever since then, we were using this 180 day as a resistance level. And this this 15 exponential moving average was now more or less trading under the 180 day instead of above it. And when it's above it, like when it's below it, it's signals. Basically, if we're in a bullish market or a bearish market, and then you might also hear something called the Golden Cross. What is That is exactly the opposite of a death cross, and we don't have one yet on some other charts, I believe we do. If we go toe like point, I think we'll see it. Yeah, so this is actually what people refer to as a Golden Cross. It means that as the 180 day moving average slows down as and we find support, the line gets closer to the price and eventually the E. M. A. The exponential moving average on a smaller timeframe will eventually cross this level, and this is called a Golden Cross. It means we might be in a bit of a market reversal, and we might be seeing a potential bull market come up. There is also, and another way that I like to use this indicator, and just like my support and resistance lines and my trend lines again, you can see that this kind of gives us a confirmation again. So I have these lines drawn out. We'll talk about more wider these lines in the chart pattern section, but you can see that this basically just trails of the lines that I drew. And you can also see that this would give you some good indication of what a or where. A night. Nice entry. Maybe so pretty cool how all this kind of comes together, and I like to use thumb altogether as multiple confirmations. But in the end of the day, you can see this chart is much more messy then, if I just didn't have anything on it except price and volume in my line. So if you if you know how to use price and volume, you can basically is getting good idea of where the moving averages or anything else really is. And that's the whole important point of knowing how to read price and volume because there's really, in the end of the day, nothing more than you need them, that Thean maize or the moving averages in general. We'll just give you a, you know, a confirmation. So let me put these back on and there's actually something I saw really cool a few days ago , but I'm not really sure I'm gonna find it. Let me see if I can come up with one of the idea of what it waas all right. Not too important. I'm just playing around at this point, and it's really easy to get distracted when you are playing with the charts. This is actually actually exactly what you guys should be doing and just play around with the charts. You know, play some support, resistance lines, see where the moving averages has come up and just have some fun. You get comfortable with moving things around in your chart, and that's really what it what. What it's all about is getting started making mistakes, fixing those mistakes, learning for a moment and just rinse and repeat. There's one last thing I do want to cover and what lines are right. What moving averages air, right? Well, there is really no right and wrong when it comes to charting it. Really all depends on your personality and your trading and, um, and just kind of figure out what works for you. Every trader uses different stuff, and that is the most important lesson I think that you can learn. So, for example, I like to use the M A 15 because it's a bit more aggressive and since I like to day trade a bit more, not necessarily aggressively. But I like to day trade and see a very conservative conservative entry and exit point. I'll use the 15 day moving average because it kind of follows the price a little closer. I also use the 180 day instead of the 200 day, which a lot of people use because again, I like to have a more conservative reading 180 day. It would probably be trolling a little further down, and I like to have something that gets a little closer to the price because I like to see a bit more where the action is that have, you know, a bit of a limbo face between the price and the line. But, you know, I really try both of them. See what works for you also threw up the 30 day moving average to kind of show you guys the difference. And in a nutshell, you can see the difference is that the exponential moving average? Although it's the 15 days. So actually, let me change that. I would have to make the 15 day to be a bit more fair ISAT gonna come up inputs so you can just use the 50 day moving average. But again, here is why I like to use the E m A instead of the end A sometimes for the short term stuff , because this is gonna be a little hard to see, probably in the video, but you have the e m a the blue, and it's kind of follows the price a little bit more consciously. It kind of turns around here little bit comes back down while the moving averages more like , you know, straight up and then goes down. It kind of doesn't take the most recent thing into effect as aggressively and in the end, the differences there small and it's really about You know what you like to dio what works for you. And I have just found that I prefer on the short term to use the E May 15. There's so many different things you can test around with and don't get too overwhelmed about. You know what setting is the right one. Over time, you're really gonna find that out. For now, just kind of focus again on the two most important indicators. Volume and price. Everything else is just a compliment and you don't really need it, right? Just keep that in mind. You don't really need it and don't get too much stuff on your chart again. Look how much cleaner everything looks when I take away those lines. And ultimately I know the same thing. I know there's big support around here. I know there's big support around here because we had former resistance and you could kind of build. Your trading thesis is based on very, very simple indicators like support and like supporting resistance lines based on price and volume. So I'm sorry I'm gonna be repeating that a lot because it's true, and I see way too many new traders out there with 1000 indicators on their chart and I can't even see worth. The price is so you definitely want to avoid that. Starting off the best thing you can do as a new trader is just keep it simple. If you're ever in a fork, you know, in a decision or something like that, you don't know which way to go. Take the simple path because the simple path is the one you're able to understand. And it's probably the past path that most people use, which, and when it comes to trading, the more people that follow an indicator the better. Because, um, if it's a small indicator that nobody really uses it uses, then it's less likely to actually, um, be a real confirmation because not that many people follow it. If there is, you know, I hear a lot in the trading space. If there's a pole in the middle of the ocean, what is everyone looking at? They're looking at the pole, and that is basically how support and resistance works. If if this was your former high, what are people looking at? The not looking at all this stuff in the middle there, looking at that former high just like we talked about with the $28,000 level on the one day you when we get back up to this level. What are we all gonna be thinking? We're gonna think Are we gonna pass the $20,000 level? Because that is exactly where we ended last time. So very simple stuff. It's really not too complicated. And the important part is that you keep it not complicated. Complicated, because you can make very easily overwhelm your chart, overwhelm yourself. So I think that is everything we need to discuss in this video. I hope you found it useful. And I'll see you in the next one judge out. 21. Indicators | RSI: Hello and welcome back to another indicator video. In this video, we're gonna be talking about the R S I or relative Strength index. This indicator tells us a little bit about if a certain asset like big point is oversold or overbought. So let's actually dive right over to the chart right away. And, uh, yeah, get a better overview of what it looks like, how to add it to your chart and how to maybe trade based off if it If you want to learn more about the RC specifically, just google it and learn a bit about it. There's always a good idea to get a bunch of different references. Don't just listen to what I say. It's always good to get many of sources and build your own thought or your own idea about it. Anyway, let's yet was diverted to chart. Always going to the wrong one. No, also not the right one. Here we go. All right. Sorry about that. So here you can already see the RSC down there. But first, let's let's clear up everything on this chart. Let's get rid of the moving averages that we talked about. Let's get rid okay, we'll keep the volume because that's important. And let's get rid of this little thing and, um, cool. So we're back on BTC were on the four hour, but let's actually jump on over to the daily on, then zoom in a little bit, maybe two here. So we have kind of the last few months in overview. And if you don't already have the RC just again go over to indicators, I like to just type in our size. I don't spend too much time looking for it. And it's this 1st 1 the relative strength index, ours. I and um yeah, go ahead and at that. And then you will see it, Papa, pure below. So I double tap the screen. Or, if I click these little buttons here, it moves. It adds this indicator. I'm actually not entirely sure why this indicator is attached to Oh, alright, I'll stop playing around with it. Dangerous stuff, But yet there's there's a bunch of different ways you can customize trading view. I'm so used to still using thinker swim from TD Ameritrade. So to me it's almost like a new platform. But all the indicators are the same So quote. Let's go back over to this little zoomed in area that we had. And let's talk about the Karzai. So when do I use the ours? I typically never use it when I day trade. It's more of a swing, trade and investment thing or indicated for me and actually for a lot of people. So we're gonna talk about a little bit, how to actually use the RC indicator and, um, and what to look for because the thing about the arse I indicator, it's not as straight board as a moving average where you might have the price going towards a certain line. And then it might be a good area of general support. With the RC indicator. You typically don't trade any specific peaks or troughs. So let's say and what I mean by that is here. You see this general purple area, and this is kind of anything in here isn't really significant. But when you have something that goes beyond the lines to the 30 or the 70 I believe it is . That means that something is in overbought territory or oversold territory. So you can see after this huge red plunge we the price is now in an oversold territory, and likewise, when we have a bit of a run up over here here, you can see that we have a bit of an overbought territory. But I wouldn't say that any one of these indicators like let's say we go over the 70. It's a sure sign we should sell or when we go under the 30. It's a sure sign we should buy a lot of times. That's just the beginning of when we have a larger run ahead of us. So if we can't buy and sell at that indicator, when do we actually use it? And if you Google our side even for a second, you'll probably run into right away something called divergence. And what divergence refers to when we talk about our C is when the price goes one way and the RC goes another way and it forms a bit of a, um, what's the best way to put it? I don't know. Maybe like an open mouth or a close mouth closed mouth, like a week I don't know, or a greater, less than sign. That is when we have a good indicator on when Teoh go long or short according to the arse, I and that's really something that you don't really get too much on the daily. And that's why I don't use it too much. Sometimes I'll look it on the daily, but more of a curiosity thing, not a riel trading strategy. Again, Price and volume is really all you need. And, um, and chart patterns. Those will always tell you kind of what the r. C is gonna tell you anyway, because the RC gets all the information from the price. So again, price and volume is the way to go. But let me talk about the arse. I indicator a little bit on this divergence topic. First of all, I need to actually find where there's divergence. Well, right away, I see a little area. Were there some divergence? Let me actually get a little trend line going here and maybe make it like purples that really sticks out, actually. Well, all right. Yeah, leave it a purple. So if the price keeps on going down, right, and all of a sudden the r s. I is under 30 but it starts going higher, then what will have will have one line going up in one line. Going down, prices going down. The are size going up. So let me quickly draw the line. So here you can see exact an example the roughly right around here we have a low right. Actually do do, do. Here we have the first low right on. Then we have a second low and then we have 1/3 low. So we're having here. We zoom in a bit more and give you guys a clear indicator. So here you can see we have a first low here we have a second low and then here we have maybe 1/3 low. It's a bit tricky to draw a perfect line, but in general you can kind of see what I mean by this area. We have constant lower lows and what is happening on the ars I charts. Let me move this over here. I should have probably planned this at a time. I kind of just went a free ball mode and went ahead and started drawing these lines for you guys. So let's see if this works out. If this line doesn't work out too well, we'll go to something else, but I think a Norris I, when it comes to divergence in general, is a fairly reliable indicator. It's a bit harder to get a real buy signal, but again, it's a confirmation, right? And let's I would say Probably go here. So So what are we seeing here now? It's a little confusing cause we have all these other lines but focused on the purple line . And remember, the are size not gonna be perfect, but it's going to give us an indication of a general trend. So here we have the big dip down, right, And we have the biggest moment here when Horace I is down to 11. And this would have been a technically not a very good place to go long because we're still going down a lot. Right? So then again, on the second dip way below this level of this area, the arse I actually goes up. How weird is that? The RC is going against us. So? So we are less overbought or oversold. Sorry. Kissing or overbought? If you're down here, you're oversold. If you're up here, you're over. Okay, so 1st 1 we are first read. Dip were over here. We make the all time low on the our side. The second dip were over here and where the are size? Higher. So now prices going down our size going up and then again here 3rd 1 again. The price is lower, but the RC is up now. This is what is referred to his divergence. We have officially reached this divergent points and I typically don't see it going much more than three. Here. You could maybe make a case for fourth because the arse I is getting closer to that 30 point and the price keeps on going lower, right? That is a huge, huge bullish divergence indicator. If you Google bullish divergence our side, you're gonna find 1000 examples of this. And I just kind of wanted to outline it on talk about specifically not necessarily how to find it and all this stuff. But why? Why we use it and and yet that's the most important part to take away. So you can always learn more about the artists I But how we use it is typically with swing trading or investing. You can see this is a longer term stuff. This goes over several months right here. Actually, take that back. It goes about like a month and 1/2. This whole entire artists, I and this is great for a swing trade or even maybe an investment. Like what do I want to get into this investment? When is it? Maybe I believe in Bitcoin for the next 10 years. But maybe it's not the right time to get into it. So an indicator like the artist, I will give you a general indication of when to get in and maybe even take some profits off the table. This is also very true when we look at the opposite. So let's go on the chart and find the fine opposite level. Not really do too. Okay. So the opposite would look like the price is keeps going up. We find this and the arse I keeps going down. So here is potentially one of those situations. Is this purple? Yes, it still is. So here we have our site. Peak Peak, peak, Four peaks. Right. And let's draw a little line right there. Then what do we have over here? So we have a peek. We have another peak. Where the RC Peaks as well. Then we have another peak right here. And then finally a peak Right here. So what does this mean? It would have been extremely hard to, you know, sell right here, right? I mean, you sell right here and you lose all this upside. So that's why our site is not an indicator that I used to buy and sell right away on its own. I use it as a confirmation. And right now we have a huge confirmation. We have a greater than symbol or weight. This would be less than right. Doesn't matter anyway, So we haven't open amount, an open mouth. And should I call it that? I don't know. So you see, the price is going up and the divergence is or the arse. I is going down. We have divergence. And again, this is a big cell indicator or bearish indicator. And also what I see right now is you're what I want to point out is not just Are we running up here? We have huge resistance line at this $3000 level. Now, if you remember, we didn't draw this 3000 till we actually reached this line. So would have been really hard to know that there was going to be big resistance there. But a really good way to know that is when we have this arse, I we peek out right here. Andan we keep going down right as we're approaching that 70 level. So down here it was the $30.30 level Here it was the 70 level, and as we approach this area were basically the momentum is slowing down. That bullish momentum is slowing down in the or s. I is giving us an indicator that it's slowing down. Now there's many other ways to know this, especially with chart patterns. But this is a really good confirmation that anyone could use and implement in their own trading. And I probably would have taken profits. I did not make this trade. I don't know what I was doing here. I wasn't really day trading crypto too much back in 2017. Actually, I wasn't really at all. I made some pounds and that's about it. But with trading equities, I look for something like this all the time. This is a really, really top notch. I would say indicator that you should either take profits off the table or maybe start looking to open a trade, especially a swing trade or an investment. In this case, it would have been obviously good to take profits off the table. Sweets. Now you guys know what the r size? I definitely recommend, you know, Googling it a little bit learning more about the indicator, maybe how it is even comprised. Like, what is the formula behind it and just kind of have a better idea? Don't just take my word for it. But now you know how I use the RC in trading. And if I ever use it in the future, it talk about it. Now you least have a little bit of a foundation Teoh to continue trading on and understand what I'm talking about. You guys. That's everything for this video on. I will see you in the next one. Xiaochao. 22. Chart Patterns | Why Chart Patterns: Hello, everyone. And welcome back to a new section of this crypto trading course. And the next few videos we're gonna be talking all about chart patterns. And in this video, we're going to be discussing why chart patterns? Why are they so important? And why are we actually gonna be discussing about them at all? Well, the first reason we want to be talking about chart patterns as a trader is because chart patterns and the market and humans repeat themselves. The past is a good indicator of the future. And just like human nature, people tend to make the same getting the same habits over and over again. And you can see those exact habits happening in real time in the market. And the best way to identify these habits and these general price trends is in a very clear cut chart pattern. So I'm gonna be reviewing some of my favorite chart patterns. There's there's literally endless amounts out there, but in general there's a few really important ones that most traders follow. And by knowing those will give you a really good indicator on, you know what you should be doing to kind of build on that is not just our chart patterns. Kind of a a good way to know. OK, so the stock market or the crypt a market is maybe, you know, forming resistance lines or support lines, and you could work off of those by finding or building a larger pattern out of these supporting resistance lines. You're you're going to get huge indicators on when to buy and sell based on supporting resistance and a general a larger frame pattern that you can form. So that's gonna make a lot more sense. Once we were start reviewing specific patterns, I'm actually just thinking about one right now that I did yesterday. So maybe we'll even review that one. But the best place to always get the most recent stuff is the weekly trade views. So keep checking those out and let me think about anything else we need to talk about in this video before we move on. So we talked about a little bit. Market repeats itself. Chart patterns give you trends signal. So when you should enter and exit a trade and um, it also gives you structure another. One thing I want to talk about is in general chart patterns give you structure, because when you look at the market completely new to trading, there's just a lot of chopped right. There's just a lot of up and down, and you might be a little lost, like is right now a good time to buy? How do I know the market's going down is eventually gonna? Are we going to see reversal any time soon? What am I looking for? And I think a lot of times a new trader or a new investor will get into the market and just kind of be overwhelmed with all the different indicators and things to look for. So I really like a clean chart pattern because it could give you a nice framework to put your thoughts into. Now you might not always be right, and some of the best chart patterns are only successful 70 to 80% of the time. But it does give you that framework because in trading and in life there, it's often said that a bad plan or bad strategy is better than no strategy because you can always amend that strategy and improve off something. But if you have nothing to improve off, of then it is just a chaotic mess, and that kind of follows up the last point. I want to kind of bring up before this video is over, and that's just don't want to trade shop. You don't want to get in the market and just feel like, Okay, the price has been going down. Now it's gonna go up or you know it's going up and maybe we're gonna keep going up right. If the markets choppy or you don't have a strategy, you don't have a plan. That is the one time you don't want to trade a lot about a lot of things when it comes to trading is simply taking a back seat, relaxing, being patient and waiting for a good trading opportunity to come up to you and like I always talk about. Price and volume are the two most important indicators, while chart patterns put those two important indicators in a nice framework and allows you to make a pretty consistently profitable trades off of that framework, and that's exactly what I do. And I hope to teach you guys. So I think that's everything for this video. I can't wait to move on. This is gonna be a really fun section. I even wore my pattern looking shirt today. So, uh, hopefully that gets everyone in the mood. I'm sure it gets me in the mood. I'm pretty excited. I don't know. I don't wanna get distracted. So much to talk about. I will get. I will see you guys at the next video. 23. Chart Patterns | Building Your Chart Pattern Library: Hello, everyone. And welcome back to the next video of this chart pattern, a library section. In this video, we're gonna be covering a topic that is really important in building your repertoire of chart patterns that you're gonna be using throughout your trading career. And in this video, we're also gonna be focusing on the trade journal dot co the Google spreadsheet that we mentioned. I believe in the setting up video Siri's So the best way to get started is actually let's go over and explored right now. So you have a little bit better idea of what the's steps tab is all about again. Guys, there's gonna be a link Teoh a YouTube playlist below of all the trade journal tutorial videos. So if you ever get lost or ever confused, go to that channel or playlist and it's gonna have a bunch of videos on how to use this Google sheet and get perfect. Well, let's dive in already and then kind of go through any parts kind of just a little overview of what you be, what you should be focusing on specifically this section of the crypto trading course. So going over to here you can kind of see the strategies page or tap. And then we have a bunch of other tabs that you can use. We're gonna be focusing on the stats tabs. You can see there's three already here at the bottom on. And yet we're gonna be working in those on this video specifically just kind of little overview off what they are again. Just a quick reminder. So you don't have to leave and go through the the tutorial videos. But you should if you if you want to. And if you are a little confused, but just kind of keep the momentum. I'm just gonna talk about him a little bit in this video and then and then in the next video, actually be reviewing mine a little bit so you can get an even better idea. So to get started here is this tap. And if you don't have this again, remember, just go to trade journal dot co and click on the latest link. So it will say, you know this right now it's currently a virgin. Version 2019 version two. And if there's any new ones, I will I will publish. Publish those as Well, cool. So let's go over here to the day trading stats. This is going to be the one you probably will use either the most or maybe the swing trading stats. But let me quickly give you guys a little overview of what it's all about. So here is a bunch of chart patterns already added. Some of these are some of my favorite, and others are simply once I added, but I never really used myself. The goal here is really simplicity, but also freedom. And don't not to overwhelm yourself. So if you ever want to add a new chart pattern, just throw it on this list and, yeah, just kind of have fun with it. Keep playing with it. Don't mean maybe put too much stress on it at any given time. But over over the course of your training career, I would say in the next 23 months, these stats will actually really come together and give you a really good insight of what your best patterns are. So maybe you've traded, you know, 15 different patterns were always trying something new. You learn something new from this course. He learned something new from another trader. He learned something new from the discord chat. You know all over the place, and you're always adding and trying different chart patterns. And over time you will realize that only three, maybe of the patterns of the 20 patterns you tried are really the ones that you're consistently profitable and in a good way to use this statute is to identify those maybe top three or top five, or maybe even top one. Maybe only one pattern is like killer good for you. So now that you have concrete evidence that this pattern is your winner, then you can better implement that in your trading. And really, maybe just even focus on that one pattern or those top three or five patterns, and that will help you become even more consistently profitable in the long run long run. So don't feel don't feel obligated to use any of the ones I have listed here. And don't be shy to add a bunch more. There is one thing I want you to think about, and that is the 80 20 principle that you might have heard of already. I'm not really sure there's a bunch of books on it. If you're really not sure what the what the 80 20 principle or law is, just give it a quick Google and your mind will be blown. But basically it's a law that states the that 20% of your efforts result in 80% of the goal . Thea Outcomes right? If the company, let's say, is selling 100 products right, only 20% of those products so 20 products are actually resulting in 80% of the income that company makes. The other 80 products are more or less irrelevant, and they don't really do anything. Actually, a lot of companies uses principle to cut a lot of their unproductive assets, and you can do the same thing with trading. Actually, I've traded I don't know how many chart patterns, but I would say well over 30 or 40 specific ones, and I've noticed that really it all comes down to my top three that are the ones that are the big winners, and I'm profitable over 70 70% of the time with so with this with the stats, you can really kind of you'll get a kind of feeling of what works and what doesn't but It's really nice to have concrete proof. And these this stats tap does exactly that. So the stats tap on all of these air the same it just this That's have this. That's tap focuses specifically on the day trades, and this one focused specifically on the swing trades and so on. Investment trades with investing. It's a little bit weird because I don't typically use any patterns with investing, Really. I mean, sometimes I'll look at some very more reversal patterns. I'm like, OK, this is indicating that we might be seeing a reversal or we just had a huge waterfall on the daily. So maybe we're gonna be seeing potential reversal. So maybe it I do sometimes, but difficulty less. I would say more with swing trading and day training is really we're going to get most of the good concrete benefits for these stats tab. Just a little bit overview right here. These are all demo trades, but again, you can always have a new trade that comes in and then you kind of just select what pattern it is, and this pattern will reflect then in the day trading stats. So let's say I had a successful trade here or this one that's still planned. You'll see that it doesn't affect it yet. Um, there on the, um, day trading where we know day trading bear flag, right. You come over here day trading, bear flag. You see that there is no trade yet for this to make it actually count become concrete. You have to remember, you have to close the trade first, and that's when it's going to affect all the stats. And if we come back over here, you can see now that we have one total trade and then one of those traits was a win. And so we have for this chart pattern 100% success rate. Of course, I wouldn't put too much attention on if only one trade was a winner lost. This really becomes beneficial when I would say the total trades is over 10 ideally, maybe 20 to 30. Otherwise, you know, you might just have, you know, three wrong in a row. But in reality, in the long run, this might be one of your best chart patterns. So, you know, give it time to grow, give it allowed to mold and really become more concrete, but yeah. Overall, this is an excellent tool that I use myself to improve my own trading in the next video, we're gonna be talking exactly about my own chart pattern and how it has evolved over time . And we're gonna be talking about some of the best chart patterns. So stay tuned for that video. This is everything from this on Touch out. 24. Chart Patterns | Developing Your Style: Hello, everyone. And welcome back to a new video in this chart pattern, Siri's. So in this video, we're gonna be talking about a few things bound, developing your own style and a couple of examples on how I use this chart pattern to build my library and improve. My kind of resource is for learning more about my trading style. So we're also gonna be reviewing some of the top traits when it comes to top three bullish chart patterns and top three barrish chart patterns and that how you could even use throughout this course a my library and my statistic chart as your own resource. So we dive into all those things and let's get started with, Yes, How do you develop your style on kind of like the last few that we talked about? It's really about kind of not. I'm not stressing yourself about the little things. You know, at first you're just getting started. Try to to see, you know, have some fun with playing around with different styles. But again, the 80 20 principle is something you should always be focusing on. Don't spread yourself too thin, and if you find a winner or something like a pattern that consistently makes you make good trades. Focus on that. All you really need in the end of the day is, you know, 123 good patterns that use over and over again. Something else to really consider is the market might not always be showing those patterns , and that's when people make a lot of mistakes. You start training, chop, and you you know you get into the market at a bad time. But But as you develop your trading strategy in your chart pattern library and you become a bit more consistent with your trading, you're gonna notice that there's really a few few traits that will always kind of make you consistently profitable. And that's really what I want. I want to be focusing on, you know, have some freedom and stuff. Remember, at the end of the day, there's only gonna be a few strategies and styles that really fit your personality. Don't spread yourself too thin, don't you know? Try everything that you find out they're trying toe really be focused for a few different patterns and and really find your style with that And yeah, that's really what it's all about. Don't get too stressed, you know, baby steps and, you know, just focus on consistency and find those patterns that really fit your persona