/biz/ - Business & Finance

>>12157516

Great trades bro, good job. Like any skill you get better with experience.

"Every loss in trading is the price you pay for a lesson" . Love this quote. I remember my early losses when I first started trading and learned so much from them. Putting tight stop losses that easily got triggered, wanting to "believe" in the patterns that I draw not being able to be objective, not knowing when to take profits (sold after 10% only to miss out on 200% etc), not having a game plan etc. All of these early frustrations that I suffered made me a better trader everyday.

>>12157580

https://www.investopedia.com/university/technical/

is a great place to start. I personally don't use many indicators. Just RSI and moving averages. I used to use Stoch RSI, MACD and OBV, but recently simplified my TA and have found greater success.

Still use these indicators from time to time to confirm my observations, but mainly RSI and MA's for now.

What I think I'm really good at is seeing patterns, formations and channels. After you can clearly define the channel ANY asset is in (not specific to crypto) you can start developing a gameplan for good entries, areas to take profits, decent stop losses to minimize risk etc.

Support and resistances are huge in crypto. Watch out for s/r flips and trendline retests for great entries. That's usually what I do and have been very profitable.

>>12157491

Ye I posted it on one of my earlier threads.

Here's EOS/BTC since so many of you ask for it.

I'll be honest, I wasn't expecting this great of a bounce from EOS. I just bought at 5k cause it seemed like a range with a lot of history that it could find support on. It was a good observation and it worked out.

Right now I believe we'll be sideways in this 7150-7650 range. 4h RSI is VERY overbought but daily RSI still has some room to work with. I definitively wouldn't entry right now, but evaluate the retest of 7150 which I believe will be its next target for now.