Good day to all. I decided to tell a little about my experience of conducting transactions. What and how in general. How I use charts and TF, what I am interested in seeing and what I do if things do not go according to plan. So, perhaps I will begin. (THERE WILL BE A LOT OF LETTERS AND NO PICTURES, SORRY).

It is worth noting that there are several types of trading, and until you understand which type you belong to, it will be psychologically difficult for you to open each trade.

Personally, my experience was such that I wanted profit here and now, but due to my main job, I didn't have time to sit and look for great positions every day. So I chose what is called medium-term trading for myself.

In general, several types can be identified: scalpers - those who trade on small time frames, hardly ever looking at time frames above 4H. They are in trades for a fairly short period. The advantages are in and out, profit/loss. The disadvantages are paying commissions much more often than others, and given that they catch minimal movements, commissions hit the balance, especially if there are a series of unsuccessful trades.

Then come swing traders. They can be in a trade from several hours to a couple of days. They pay much less in commissions and catch much larger price movements. The advantages are finding trades every day. The disadvantages are that it is time-consuming (this also applies to scalpers, as they need to constantly monitor charts). Oh, I forgot to mention, the optimal MTF for swing traders, in my opinion, is M15 and above. They look for zones of interest on 4H - 1D and periodically check the weekly chart. Yes, I know, it's boring, but it can help.

My type is medium-term trader. I can be in a trade for up to a month, MTF - 4H. Personally, I use these time frames (from higher to lower): 1H - zones of interest, structure, 1D - clarification of the zone of interest, 4H - for entering the trade. The advantages are that it takes minimal time for analysis since there are not often trash occurrences on the weekly and 4H (although look at this month’s ETH), commissions are paid rarely, and large movements can be captured. The disadvantages are that profits are not always realized quickly.

Next are positional traders. These are the ones who never look below the daily chart and have never heard of the five-minute chart. They stay in trades for at least a month and sometimes close them after a year or two when they remember. The advantages of such trading are tranquility and amnesia. You enter - you forget. Remember after a year, recover the password, and close the trade, taking the profit or calculating the loss. The disadvantages are rare profit, unless partially closed.

Next, I would like to provide approximate tips for each type to make it easier to navigate. ATTENTION!!!! THIS IS NOT A GUIDE, BUT JUST ONE OF THE OPTIONS!!!

1) Scalpers: 4H-1H-5min-1min

2) Swing: 1D-4H-1H-15min

3) Medium-term: 1H-1D-4H-(if you want 1H)

4) Positional: 1M-1H-1D

Now, the most important thing. What do I do if I see that the trade is not going according to plan.

Of course, I don't move the stop-loss higher/lower, thinking it might work out. No. Forget that you can move it.

Next, never, I repeat, never try to catch every market movement, every candle, etc. You should have your own system, your own zones of interest, and you must WAIT until the price reaches your zone of interest. I'll let you in on a secret: I even opened my trade on $ETH and $LTC without waiting, although I should have sat in my chair straight or half-lying and waited. You have a take, you reached it - well done. Don't go further to get even more profit.

Now about the take. Your analysis worked, well done. So what to do? Should you close the whole position just on the take or break the position into parts and close 3/4 before the take in between? Well, everyone chooses for themselves. Personally, I do it this way. If I open a position and can follow its progress, I close 10% at about 1/4 of the take. Then, halfway to the take, I close another 50%. And at the actual take, I close the remaining 40%. Yes, I get a little less than if I closed the whole thing. But in this scenario, I can secure more than half of the profit halfway to the take and move the stop to break even (the only place where it can be moved at all!). And forget about this trade since I can just get my money back in case of a reversal.

Okay. You started waiting for the price to reach your zone of interest to enter a trade, but what if it goes the other way, for example, to take out the ATN or just consolidates for a long time?

When analyzing the chart, always consider a backup option. For example, I placed a short and was stopped out where the structure broke. I start to look. Is it really a break or just a false breakout? Depending on the situation, I can switch to long if I see a structure update and a move for liquidity in the other direction, or it happened due to my stupidity and there are no zones of interest above. Then I reopen the short, but already for a smaller percentage of the deposit.

And remember once and for all: THE MARKET IS NOT A PLACE WHERE YOU CAN BE 100% RIGHT. BE ABLE TO ANALYZE YOUR MISTAKES AND LEARN TO ACCEPT THEM. You can prove your correctness to your pet; for him, you are always right, but for the market, you either take profit and quietly leave before you get noticed, or you become liquidity. There is no such thing as always being right, and if you try to prove otherwise - you're fooling yourself.

Well, that's approximately what I wanted to say. And yes, if you're interested in analyzing any coin, just let me know. I'll try to analyze it after the holidays.

P. S. I don't want to search for pretty pictures on the topic, so here’s a selfie with my wife and her pet.

Wishing everyone good profits and Happy New Year!!!