Tradingtips
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RSI
The Relative Strenght Index provides traders with signals about Bullish and Bearish price momentum
An asset is usually:
Overbought when the RSI is above 70
Oversold when it's below 30
I will explain RSI Divergences in the next THREAD.
RSI
The Relative Strenght Index provides traders with signals about Bullish and Bearish price momentum
An asset is usually:
Overbought when the RSI is above 70
Oversold when it's below 30
I will explain RSI Divergences in the next THREAD.
How to TRADE a “Pullback”
1. Mark the Highs and Lows
2. Look for a reversal and wait for confirmation
3. Entry when 0.214 Fibonacci Level acts as a Support
4. Stop Loss must be placed below the last low
5. Take Profit above 1.618 Fibonacci Level
#Kri #Tradingtips
1. Mark the Highs and Lows
2. Look for a reversal and wait for confirmation
3. Entry when 0.214 Fibonacci Level acts as a Support
4. Stop Loss must be placed below the last low
5. Take Profit above 1.618 Fibonacci Level
#Kri #Tradingtips
Trading Secret: How to Avoid P2P Scams in Crypto space (Final Part)
Removing scammers and malicious actors from the crypto space would allow the crypto industry to flourish, leading to increased adoption, innovation, and empowerment for individuals worldwide. While the presence of scammers poses challenges, there are ongoing efforts by crypto communities to make the space safe for everyone.
To ensure the safety of P2P traders, I started a series to educate us on how we can avoid scammers. Check my profile to stay updated. Here is the final part.
1. Use Escrow Services: Choose platforms that offer escrow services. Escrow holds the cryptocurrency in a secure account until both parties fulfil their obligations, reducing the risk of scams. This applies when you're trading outside of a centralised crypto exchange on a P2P platform.
2. Trust Your Instincts: If something doesn't feel right, trust your instincts and don't proceed with the trade. Scammers often pressure users to make hasty decisions. If it doesn't feel right, stop and continue later.
3. Report any suspicious act: Most P2P trading platforms have customer service, so you can reach out when trading is going south and secure your funds.
4. Educate yourself: To me, this is the most important aspect of avoiding scammers. Learn about common scam tactics to better protect yourself. With the right knowledge, you can spot every wrong move.
Remember that P2P trading involves risk; do your due diligence and prioritise security in every P2P transaction.
#crypto #Tradingtips
To ensure the safety of P2P traders, I started a series to educate us on how we can avoid scammers. Check my profile to stay updated. Here is the final part.
1. Use Escrow Services: Choose platforms that offer escrow services. Escrow holds the cryptocurrency in a secure account until both parties fulfil their obligations, reducing the risk of scams. This applies when you're trading outside of a centralised crypto exchange on a P2P platform.
2. Trust Your Instincts: If something doesn't feel right, trust your instincts and don't proceed with the trade. Scammers often pressure users to make hasty decisions. If it doesn't feel right, stop and continue later.
3. Report any suspicious act: Most P2P trading platforms have customer service, so you can reach out when trading is going south and secure your funds.
4. Educate yourself: To me, this is the most important aspect of avoiding scammers. Learn about common scam tactics to better protect yourself. With the right knowledge, you can spot every wrong move.
Remember that P2P trading involves risk; do your due diligence and prioritise security in every P2P transaction.
#crypto #Tradingtips
START MAKING MONEY: 3 Things You Must Avoid If You Want to Succeed in Crypto Trading
To be a successful cryptocurrency trader, it's paramount to avoid some common habits that often lead to poor decisions and huge financial losses. In this article, we will be looking at some of these habits you must do away with in order to progress in trading.
1. Impulsive Decisions: This is one of the most common bad habits that most traders suffer from. Always avoid making trading decisions based on your emotions, rumours, or short-term price movement; all these often lead to poor decisions, which automatically mean financial loss.
2. Overtrading: Almost every trader is guilty of overtrading, either when they're losing a substantial amount or when they are overly happy with floating profits. Trading too frequently or with excessively large positions can lead to high transaction fees and increased exposure to risk. Maintain discipline and avoid overtrading in your journey to success.
3. Ignoring Risk Management: Funny enough, some traders, especially newbies, don't even know there's something like risk management; they just jump into a trade without weighing the cons and pros. Failing to do proper risk management on your assets before entering a trade can easily lead to substantial losses. Some traders don't even know about stop-loss orders or how to effectively use them to their advantage.
To be continued.
Do you find this article useful? Tell us in the comment section, like, and share with your friends as well.
#Crypto #Tradingtips
1. Impulsive Decisions: This is one of the most common bad habits that most traders suffer from. Always avoid making trading decisions based on your emotions, rumours, or short-term price movement; all these often lead to poor decisions, which automatically mean financial loss.
2. Overtrading: Almost every trader is guilty of overtrading, either when they're losing a substantial amount or when they are overly happy with floating profits. Trading too frequently or with excessively large positions can lead to high transaction fees and increased exposure to risk. Maintain discipline and avoid overtrading in your journey to success.
3. Ignoring Risk Management: Funny enough, some traders, especially newbies, don't even know there's something like risk management; they just jump into a trade without weighing the cons and pros. Failing to do proper risk management on your assets before entering a trade can easily lead to substantial losses. Some traders don't even know about stop-loss orders or how to effectively use them to their advantage.
To be continued.
Do you find this article useful? Tell us in the comment section, like, and share with your friends as well.
#Crypto #Tradingtips
P2P SCAMS (PART2)
P2P SCAMS in Crypto (PART 2)
1.How do I not get scammed on Binance P2P?
2.If a seller is offering a significantly lower price than the market rate, it could be a red flag that they are trying to scam you.
3.Binance offers an identity verification system for P2P sellers, which allows you to verify their identity using their government-issued ID or passport
To be continued, check out my profile for the parts.
Stay safe!
#crypto2023 #Tradingtips #scams
1.How do I not get scammed on Binance P2P?
2.If a seller is offering a significantly lower price than the market rate, it could be a red flag that they are trying to scam you.
3.Binance offers an identity verification system for P2P sellers, which allows you to verify their identity using their government-issued ID or passport
To be continued, check out my profile for the parts.
Stay safe!
#crypto2023 #Tradingtips #scams
Must Read: Your PNL (floating profits) is not your Money yet.
Most traders make the mistake of thinking that their PNL (floating profits) is actually their money when they haven't closed the trade. This is most common in future trading, where a trader can flaunt 1,200% PNL and later close the trade in a loss.
Your PNL (profit and loss) is floating until the trade is closed. You can have a floating loss of 100% and still end up closing the trade in profits, and vice versa.
This is also applicable in spot trading; if the coin you invested in pumped to 200%, make sure to book some profits before flaunting your 2x PNL. Most importantly, don't allow social media pressure to negatively influence you.
Apply proper risk management when trading in the crypto market.
See you at the top. You can support us with a tip. ❤️
#crypto #Tradingtips
Most traders make the mistake of thinking that their PNL (floating profits) is actually their money when they haven't closed the trade. This is most common in future trading, where a trader can flaunt 1,200% PNL and later close the trade in a loss.
Your PNL (profit and loss) is floating until the trade is closed. You can have a floating loss of 100% and still end up closing the trade in profits, and vice versa.
This is also applicable in spot trading; if the coin you invested in pumped to 200%, make sure to book some profits before flaunting your 2x PNL. Most importantly, don't allow social media pressure to negatively influence you.
Apply proper risk management when trading in the crypto market.
See you at the top. You can support us with a tip. ❤️
#crypto #Tradingtips
Interesting Secret Every Successful Crypto Trader is Hiding
Have you ever wondered why we have numerous crypto traders but only a few are actually profitable? That's because the crypto industry is very dynamic. This is one secret that successful crypto traders are not sharing.
If you desire to be a profitable trader, you must cultivate the habit of continuous learning. The crypto market evolves rapidly. Stay open to learning and adapting your strategies.
To profit, you need to be ahead of other traders, and the simple way to ensure that is by being updated with the latest information.
Stay informed and ready to take actions where needed.
#crypto #Tradingtips
Have you ever wondered why we have numerous crypto traders but only a few are actually profitable? That's because the crypto industry is very dynamic. This is one secret that successful crypto traders are not sharing.
If you desire to be a profitable trader, you must cultivate the habit of continuous learning. The crypto market evolves rapidly. Stay open to learning and adapting your strategies.
To profit, you need to be ahead of other traders, and the simple way to ensure that is by being updated with the latest information.
Stay informed and ready to take actions where needed.
#crypto #Tradingtips
