ADX Day Trading Strategy On 5 Minute Chart

100 USD Per Day Trading Cryptocurrency

100 USD Per Day Trading Cryptocurrency

Simple Step By Step Method Day Trading

Here is an excellent tutorial with Jame’s day trading method. As always, James does an excellent presentation to the point, without promotional hype.

100 USD Per Day Trading Cryptocurrency

Simple Method To Make $100 a Day Trading Cryptocurrency

149,018 views
Dec 23, 2021

336K subscribers

 
Best crypto day trading strategy – how to day trade cryptocurrency for beginners. MoneyZG Crypto Course: https://moneyzg.academy Trade on Bybit: https://bit.ly/Bybit-ZG VPN to Use Bybit: https://moneyzg.co/tools FOLLOW ME: Twitter: https://bit.ly/Twitter-ZG Instagram: https://bit.ly/Instagram-ZG TikTok: https://www.tiktok.com/@moneyzg TIMESTAMPS: Crypto Day Trading – 00:00 Use Candlestick Charts – 00:41 Use SMAs – 03:32 Find Areas of Value – 06:23 Use Limit Orders – 9:00 Use ATR – 10:41 Crypto News Sources – 12:47 Use On Chain Analysis – 16:34 Spot vs. Futures & TP/SL – 20:19 Have a Trading Plan Based on Facts – 23:26 USEFUL VIDEOS: Bybit playlist: https://youtube.com/playlist?list=PLy… Trading playlist: https://youtube.com/playlist?list=PLy… This video is for entertainment purposes only. It is not financial advice and is not an endorsement of any provider, product or service. All trading involves risk. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites

100 USD Per Day Trading Cryptocurrency

100 USD Per Day Trading Cryptocurrency

VISIT OUR OTHER SITES:

Check Out Our Crypto Privacy Site: CryptoGrizz.com

Check Out Our Crypto Trading Site: CryptoGrizzTrader.com

Check Out Our Low Cap Altcoin Site: CryptoGrizzAltcoins.com

Check Out Our Prepper Site: PrepperGrizz.com

Check Out Our Global Crypto Survival Site: GlobalCryptoSurvival.com

COMPLETE VIDEO TRANSCRIPT

00:00
in this video i’m going to show you how
00:01
i trade cryptocurrency and how i have
00:03
traded for more than a decade in both
00:05
the crypto and stock markets i was
00:07
actually a professional stock broker
00:08
when trading in the stock market so i’m
00:10
going to show you very simply the steps
00:12
that real traders will go through when
00:14
setting up their charts and how they can
00:16
think about news and events that shape
00:17
their trading i’ve boiled it down to 10
00:20
simple steps that are easy and
00:22
repeatable that can be followed each
00:24
time you come to trade or are looking to
00:26
do more research in crypto find the
00:29
timestamps for each section in the video
00:31
description and if you want to use the
00:33
same training systems as me then check
00:34
out the links below because you can get
00:36
deposit bonuses when you sign up so it’s
00:38
going to give you you know a deposit
00:40
bonus when you start trading so first
00:42
thing you need to do is use candlestick
00:44
charts this is absolutely vital
00:47
i’m going to come to my buy bit to show
00:49
you this if you don’t have a buybit
00:50
account yet you can get deposit bonuses
00:53
um when you sign up which is like a
00:55
buffer so when you deposit some cash on
00:57
account to trade they will give you some
00:59
extra um it’s a nice buffer and it’s a
01:01
bonus
01:02
so you can check that out by the link
01:04
below but first thing we have to use
01:06
candlestick charts it is the only way
01:08
that traders
01:10
will look at the markets so what exactly
01:12
is a candlestick chart uh very simply
01:14
i’m going to show you so a candlestick
01:16
chart gives us a lot more information so
01:19
firstly if we had a line chart
01:22
which plotted
01:25
uh prices so that was a hundred what
01:27
you’d have is you know monday tuesday
01:29
wednesday like this and you just have a
01:31
a line chart that tells you absolutely
01:33
nothing about the trade or anything
01:35
that’s happened you need a candlestick
01:37
chart a candlestick is going to give you
01:39
an open price it’s going to give you a
01:41
close price and it’s going to give you a
01:43
high and a low that is done by the wicks
01:46
like this now if the close is above the
01:49
open then what will happen is that you
01:52
will color this in green to denote a
01:56
rising price but it tells us so much
01:58
more for example if the candlestick
02:01
looks like this
02:03
and it’s green what that’s telling us is
02:05
that during a time period because the
02:07
candlestick is a time period sellers
02:09
came in and forced the price all the way
02:11
down here but during that same time
02:14
period buyers came in and pushed the
02:16
price all the way back here and it
02:18
actually ended because remember this is
02:20
the close which is above the open which
02:21
is why it’s green
02:23
the candlestick during that time period
02:25
finished much higher this tells me that
02:27
during that time period buyers came in
02:29
sellers ran out of gas buyers are
02:31
pushing the price up
02:32
why this is important
02:34
is because each candlestick closes and
02:38
trade doesn’t stop but the candlestick
02:40
does if trade continues in the same way
02:42
that it did right here then in the next
02:45
candlestick i could suggest that that
02:47
candlestick may also be green that means
02:50
the price will go up during that
02:51
candlestick if i can predict this then
02:55
that means i can enter at the new
02:57
candlestick and ride that price movement
02:59
up you can see that right here what
03:01
happened the price was forced down
03:03
buyers came in and forced the price up
03:05
and what happened in the next two
03:07
candlesticks
03:08
so you absolutely need candlesticks you
03:10
can come to a charting software like in
03:12
buybit come over here uh area absolutely
03:16
no information whatsoever candles yes
03:18
hollow candles are fine bars are the
03:20
same thing just a little bit of a
03:22
different design candles give you lots
03:24
of information so you can learn more
03:26
about them
03:27
in some of my other videos but
03:28
candlesticks is absolutely vital and
03:30
it’s the number one thing you should use
03:32
the next thing we can do is use moving
03:33
averages very simply to find different
03:36
areas of value and it’s going to tell us
03:37
a lot about where the trade is and where
03:39
the price is in comparison to before the
03:41
way i like to do things is using three
03:44
moving averages a 20 a 50 and a hundred
03:47
what this means is it’s going to take a
03:49
moving average of the price over a
03:51
certain
03:52
range of dates
03:54
a certain amount of periods a 20 period
03:57
moving average is obviously fairly
03:59
short-term 50 kind of medium and 100 is
04:02
going to give me a longer term
04:04
um kind of price level as to what is
04:07
what’s happening now versus in the past
04:10
each moving average gives a moving
04:12
average over a certain number of periods
04:14
so if you’re using d which is day each
04:17
candlestick represents a day and so that
04:19
is a 20 50 and 100 day moving average if
04:22
you change the chart to 15 minutes then
04:24
this will be 20 15 minute periods um so
04:28
it does change depending on the chart
04:30
that you’re using but i can now see by
04:32
these uh by these three moving averages
04:35
exactly what the trade is now compared
04:37
to the longer term trend
04:39
so what you can see here the shorter
04:41
term period moving average the 20 day
04:44
moving down through the longer period
04:46
moving averages and what this tells me
04:48
is that there’s a short-term sell-off
04:50
this is kind of a bearish sign for sure
04:52
when the shorter term price movement
04:55
comes down so you’ve got the candlestick
04:57
physically moving through so that’s one
05:00
uh kind of flag and then the actual
05:02
moving average is moving down that’s the
05:04
second flag that means that that move
05:06
has basically been confirmed so this
05:08
tells me everything i need to know
05:10
where is the short-term trade versus the
05:12
longer-term trade now what a lot of
05:15
people do a lot of traders do is use the
05:17
100-peering 100-period moving average as
05:20
a guide
05:21
if the price is below the 100 or 200
05:24
period moving average as a longer term
05:26
trend that would uh be considered a kind
05:29
of bearish market many people don’t go
05:31
long when this happens
05:33
or you know they just monitor the
05:35
situation
05:37
also when the actual price itself but
05:40
dictated by candlesticks moves across
05:42
these then they may start trading again
05:44
so what you can see here is a big
05:45
sell-off you know you would you would
05:47
have been good not to buy when this was
05:49
happening when the chart was moving
05:51
through these but as you can see we’ve
05:53
met some support right here the price is
05:55
starting to move through the short term
05:58
moving average again this is a
06:00
potentially bullish sign because um the
06:03
moving average is
06:05
the the candlestick is moving above the
06:06
moving average telling us that maybe the
06:09
short term trend downtrend is starting
06:12
to reverse and moving up so you can uh
06:15
glean a lot of information from three
06:17
moving averages where the short term
06:19
trend and trade is versus longer term
06:21
trends
06:22
the next thing i like to do with ta is
06:24
find what i call areas of value you can
06:27
call these trend lines if you like i
06:29
prefer areas because it gives me
06:32
a real life box and an area where the
06:34
trade might go trend lines are great but
06:36
they’re very specific and the real world
06:39
isn’t like that what i’m going to do is
06:40
come and draw these on so i’m going to
06:42
draw a rectangle right here and what i
06:44
mean by areas of value is a price level
06:47
where the trade has consolidated at
06:49
these areas where the trade consolidates
06:52
are considered very strong signals for
06:54
the price so the first one i’m going to
06:56
draw is right here that is certainly an
06:58
area of value for me um so i’m going to
07:00
click that right here
07:02
and what you can do is change um the
07:04
style of these if you want so you can
07:06
come up to settings
07:08
um just change maybe to green like this
07:11
um make a bit thicker so that’s fine by
07:14
me
07:15
so is there any other area of value for
07:18
sure there is i’m going to copy that box
07:20
and then i’m going to put an error value
07:22
probably
07:23
around here
07:25
this is an area of value
07:28
copy paste again and then come and have
07:30
that same error value here why have i
07:32
put the area value here you can see a
07:34
lot of trade around here there were
07:35
there were one two three four five six
07:37
probably ten days of trade around this
07:39
level so that’s obviously a key level
07:42
now
07:43
you have support and resistance
07:45
this up here was uh resistance because
07:48
the price was moving up and then when
07:49
the price was coming back down this is
07:51
support right here and it happens to be
07:53
around the same price that tells me that
07:55
this price is a significant price to
07:58
trade around
07:59
now that the price is moving through the
08:02
shorter period moving average
08:04
potentially to the upside not confirmed
08:06
yet i would therefore consider
08:09
a move if i was going to go bullish to
08:12
this level once again and it just so
08:14
happens that the other moving averages
08:16
seem to be converging converging around
08:18
this area of value as well so if i was
08:20
confident the price was going to
08:22
continue in this uptrend i would be
08:24
entering a trade around this level with
08:26
a take profit of around up here these
08:28
are areas of value
08:30
and another area of value for certain
08:33
would be this level here because there’s
08:34
a ton of consolidation around and that
08:37
just so happens if you look previously
08:39
to be an area of resistance twice up
08:42
here and that has turned into support
08:45
here these are areas of value i can see
08:47
these very easily after more than a
08:49
decade of trading but they really will
08:51
help you out to find price levels when
08:53
you’re trading to enter some take profit
08:56
levels and some stop losses
08:58
when you enter your trades
09:00
when you are trading either short term
09:02
or longer term if you just want to
09:03
accumulate using limit orders is
09:05
absolutely vital if you’re using a
09:07
convert feature
09:08
a simple feature to you know dollar cost
09:11
average into crypto that’s great but you
09:13
can get much better trades and deals
09:15
when you use limit orders i’m going to
09:17
come to actually trading right here you
09:18
can see i’m in the buy bit spot market
09:21
and the order price right here the order
09:23
the mark the price in the market right
09:24
now is 48 500. so maybe i want to yeah
09:28
put a limit order in at 48
09:31
456
09:33
and then i can just put in
09:35
an amount let’s say i want to buy you
09:36
know this much bitcoin i have a limit
09:39
price of 48 456. press buy just confirm
09:43
that now what you’ll see is that down
09:45
here i’ve entered a limit order i am not
09:47
going to trade
09:49
unless the price comes down and meets uh
09:52
my bid so what that means is that i’m
09:55
going to try and get some cheaper
09:56
bitcoin because the price is always
09:58
fluctuating i don’t just want to go in
10:00
and pay up for my bitcoin now where
10:03
would that limit order come in we’ll
10:04
come to the chart as you can see here
10:06
and find some levels i would say within
10:08
a day in fact even just today the price
10:11
has come down to
10:13
48 100 and it’s now around 48.5 that’s a
10:17
big difference when you’re trading over
10:19
the long term so look at the candlestick
10:21
for your day
10:23
see where it’s moving and put some limit
10:25
orders in and see if you get hit it is
10:27
going to save you maybe half a percent
10:29
one or two percent over the long term
10:32
which you know if you’re accumulating
10:33
big bags is actually going to be a big
10:35
difference so that limit order is down
10:37
there working for me i can just cancel
10:39
this at any time if i don’t want to
10:40
trade
10:41
the next indicator that i want to show
10:43
you is called atr it’s little used
10:46
amongst a lot of people but i think it’s
10:48
one of the best ways to
10:51
see how much risk you’re getting in when
10:53
you trade
10:55
either on a daily basis or just to put
10:57
some some stop losses in to really
10:59
mitigate your risk if you’re short-term
11:01
trading so i’m gonna come to indicators
11:03
uh and i’m gonna type in atr it’s known
11:06
as average true range i’m gonna click
11:08
that on you can see that’s on the chart
11:09
now average true range is a great
11:11
indicator it gives us a
11:14
flat amount in dollars that the price
11:17
can move so average true range tells me
11:20
the one period so i’m on a day chart
11:24
right here so it’s going to give me the
11:25
one day
11:26
maximum move possible for the asset that
11:30
i’m trading i’m trading bitcoin and it
11:32
is telling me that today
11:34
based on previous moves and we can see
11:36
that there’s been a ton of consolidation
11:38
here so the volatility of bitcoin is
11:40
coming down and being compressed and you
11:42
can see the atr is also coming down and
11:44
being and being compressed when you have
11:46
this big sell-off here high volatility
11:49
big move the atr spikes
11:52
the atr is telling me what is the
11:54
largest probable one day move because
11:58
i’m on the day chart for bitcoin and
12:00
it’s telling me that the largest
12:02
probable one day move because of the
12:04
recent price action is around 2567
12:09
so when you’re entering a trade let’s
12:11
say you want a short-term trade you want
12:12
to go in and you want to set your stop
12:14
loss um you can set this price this stop
12:17
loss
12:18
anywhere you want but the biggest amount
12:21
you may probably lose is around two and
12:23
a half thousand dollars so if you’re in
12:25
you know around forty eight thousand set
12:27
your stop loss just underneath with the
12:30
atr the atar is going to help you
12:32
if the atr is telling you that um it may
12:34
move five or six thousand in a day
12:37
factor that into your trading as well
12:38
it’s a really great indicator to show
12:40
you um actually
12:42
how much risk you’re taking because of
12:44
the probable move of the asset that
12:46
you’re trading
12:47
so next i want to talk about getting
12:48
your news sources in place and your feed
12:50
set up because if you are day trading
12:52
you require a news feed it is absolutely
12:55
vital so we’re going to get into that
12:57
before that i do want to plug my crypto
12:59
course right here if you’re getting
13:00
value out of this video then this type
13:03
of value is really given to you a
13:05
hundred times over in my crypto course
13:07
um so when you get into the crypto
13:09
course it is a one-time purchase and
13:11
then you get lifetime access to all
13:14
future content for free so um content is
13:17
added over time for existing members we
13:18
have private discord groups with many
13:21
different uh groups for technical
13:22
analysis for investing for doing
13:24
research so if you you know you want to
13:26
get value out of crypto you want to know
13:28
how to trade how to research how to look
13:31
at tokenomics how to um day trade and
13:34
everything like that is all in here
13:36
there’s over 100 videos already more are
13:39
added over time for free for existing
13:40
users
13:41
you can go to moneycg.academy or i will
13:43
link that
13:45
in the description as well so you can
13:46
have a look um there’s a ton of value in
13:48
there
13:49
so really i want to talk about getting
13:50
your news in place and your feed in
13:52
place twitter is without a doubt the
13:54
best for this so you can follow who you
13:56
want um you know you might want to
13:59
follow me or you might want to vote
14:00
other people but i would suggest looking
14:02
at the people that i follow so you know
14:04
go to my twitter and see who i’m
14:06
following um because i’m following some
14:07
people that i get value from as well
14:09
there is no way that you are going to
14:11
know everything about the market it’s
14:12
impossible but following the right
14:14
people is going to give you not just
14:17
information but also analysis as well
14:19
that you can use compare contrast and
14:21
make your own decisions one of the easy
14:23
ones is looking at the bitcoin fear and
14:25
greed index um
14:27
it’s a little bit silly yes i mean like
14:29
this is you know um qualitative really
14:31
but it gives you a an idea and you can
14:34
actually feel fear and greed on twitter
14:37
on crypto twitter you can feel it it’s
14:38
palpable i like to trade and buy when
14:42
everyone is like selling and
14:43
capitulating that’s where i go to work
14:46
so you can have a look at this this is a
14:47
very rough guide follow if someone like
14:50
will on twitter this is a group of
14:51
people that post um tons of info about
14:54
on-chain analysis
14:56
really good
14:57
analysis of that on-chain data so you
14:59
don’t have to go and look at the data
15:01
yourself you can just follow someone
15:02
like this and get a lot of great
15:05
analysis of that data all in one go so
15:07
for sure following people on twitter
15:09
getting your news in the right place so
15:11
i’ve recently been trading polygon
15:14
um so what you have to do you know just
15:16
go and follow
15:17
go follow polygon polygon daily as you
15:20
can see polygon the official site
15:22
there’s a lot of different people that
15:24
are going to be posting tons of very
15:27
specific information that you can trade
15:30
from and the market in general you just
15:33
cannot get this information from a price
15:35
you know why is the price going up you
15:37
actually need to know why you need to
15:38
follow these people because then
15:41
you will get kind of early information
15:43
about things that are happening
15:44
is the project going to be launching
15:46
somewhere is a ton of uh um total value
15:50
locked going to be coming onto the
15:51
system is you know the coin going to be
15:54
listed on an exchange all of these
15:56
things are catalysts for the price and
15:59
you just won’t know them unless you’re
16:00
following um specifically a lot of the
16:03
best um accounts for that specific
16:06
project so this is absolutely vital
16:08
whatever you want to trade
16:09
get your twitter in place it is the best
16:12
place to get this if you want to trade
16:13
all coins then go to these specific
16:17
projects twitters
16:19
and there are also a lot of other kind
16:21
of independent people that post about
16:23
different projects if you want to trade
16:24
bitcoin then really this is more about
16:26
macro news um and you know kind of
16:28
interest rates and everything like that
16:30
but whatever you’re trading you
16:31
absolutely have to get your twitter and
16:32
your news flow in place
16:34
the next thing you’ll need to do is
16:36
really understand where the trade is
16:38
looking at the price isn’t enough we’ve
16:40
looked at the price we’ve looked at
16:41
areas of value but what we want to do
16:43
now is get some fundamental data about
16:46
what people are trading where and why
16:48
one of the best ways to do this is to
16:50
look at futures funding futures funding
16:52
is going to tell you everything about
16:53
where the market is right now you can
16:56
feel it and this is very important when
16:58
you trade because what you really want
17:00
to do
17:01
especially when day trading which is
17:03
what this
17:04
video is about
17:05
is um
17:07
make sure you time your entries properly
17:10
now what i can see here and this is
17:11
called coin glass
17:13
so you can come to this website it’s
17:14
totally free and i’m looking at
17:15
perpetual futures funding rates for
17:17
bitcoin there’s also a ton of other
17:19
altcoins here that you can use perpetual
17:21
funding rates tell me where the market
17:23
is i can really feel it right so what
17:25
you can see here is that there are longs
17:27
and there are shorts this is telling me
17:28
now that there are more people with open
17:30
interest to the short side you can see
17:33
51
17:34
than to the long side
17:36
so the market is kind of short and
17:39
they’re betting short now for me
17:42
what that’s what that tells me is well
17:44
do i want to go long or do i want to go
17:45
short here what you can do is come back
17:47
to the chart
17:48
and really see what’s happening with the
17:51
price so i can see that actually the
17:53
price is consolidating around here and i
17:55
can also see
17:57
that we’re just kind of moving up
18:00
were people covering their shorts were
18:02
they short and then they’re going long
18:04
to kind of cover and exit out of their
18:06
trades
18:07
if the market
18:09
and you can use this along with um
18:12
analysis from people like will
18:15
um who do you know on chain analysis
18:18
when the market starts to turn that’s
18:20
when you want to kind of uh time your
18:22
trade so when this market
18:25
starts kind of not going short going
18:27
long again that’s when you want to time
18:29
your trade to get in because you’re
18:30
going to be riding people’s short
18:32
covering when the market flips it flips
18:35
pretty quickly especially with
18:36
cryptocurrencies so
18:39
when the price is coming down okay leave
18:41
off maybe you want to go short itself
18:42
but when the price starts consolidating
18:44
and moving back up again that’s when you
18:46
get when you can say okay i’m going to
18:48
try and time my entry right here this
18:50
tells me where the market is and usually
18:52
what you want to do is um you know wait
18:54
for the market to start turning and then
18:56
riding that move back up so futures
18:58
funding is really good the other thing
19:00
that you can look at is kucoin right
19:02
here kucoin funding rates they are a
19:04
great indicator to where the market is
19:06
right now
19:07
so essentially on kucoin you know they
19:10
have a funding market for their futures
19:11
exchange
19:12
when the um when the funding rate is
19:14
around about five percent for us dollars
19:16
or usdt
19:18
that means that there aren’t many
19:19
traders going long right usually that
19:21
means there’s been a sell-off and a
19:23
pullback which is exactly what happened
19:25
that is when i come alive and i start
19:27
buying um dca dollar cost averaging into
19:30
bitcoin um that is when the market is
19:32
soft and selling off and everyone’s
19:34
selling that’s great for me i’m
19:36
long-term i’m going to hold for 20 years
19:38
so i’m happy to kind of buy during those
19:40
periods but what you can see
19:43
the market is starting to turn on kucoin
19:45
right now
19:46
the rate came down to about four and a
19:48
half percent and now you can see it’s
19:50
just ticking up again and that means
19:51
people are starting not to go short
19:53
they’re starting to
19:55
go long again so use this when this
19:57
starts ticking up and this starts
20:00
ticking up
20:01
that is a sign that the market may be
20:03
starting to turn around and go long
20:05
again you can come back to the chart
20:07
look at your areas of value can see it
20:08
starting to happen as well right so this
20:11
is a potential long entry trade if we
20:13
get another couple of good prints to
20:16
start moving up and then you’ve got your
20:17
take profits higher
20:19
the next thing i want to touch on is the
20:20
difference between spot trading and
20:22
futures trading if you want to day trade
20:25
futures are much more suited for day
20:27
trading spot market really is for you
20:29
know buy and hold maybe swing trading if
20:31
you want to do that over a slightly
20:32
longer period of day trading or you know
20:34
if you want a position that’s open for a
20:36
week or so futures really are more
20:38
suited to this but a massive risk
20:40
warning you know if you’re an uh a
20:41
beginner maybe just stick to the
20:44
the spot market um it is safer because
20:46
there’s no leverage being used you’re
20:48
not going to get
20:49
kind of stopped out and you know if you
20:51
get in the wrong side of a trade at
20:52
least you can just hold the trade and
20:54
kind of wait um with futures that’s not
20:57
how it works so what i really want to do
20:59
is go over to the futures market and
21:01
this is definitely for more advanced
21:03
traders that have been in for a while
21:05
but i just want to really show you the
21:06
difference right here so with futures
21:08
you do not buy and own any of the asset
21:11
that you’re trading you are just simply
21:13
betting on the price difference between
21:14
when you enter the trade and when you
21:16
exit the trade so if you do want to use
21:18
feature futures and many people do
21:20
there’s an advantage of lower trading
21:22
fees
21:23
and also you have the ability to go long
21:26
and short you can’t do that in the spot
21:28
market you can sell bitcoin or ethereum
21:31
that you have but you can’t take a short
21:33
position you can do that with futures so
21:36
what you’re doing essentially is betting
21:37
on prices up and down
21:39
so that is the benefit of futures also
21:41
with futures you can leverage up
21:43
and i’ve got specific trading guides for
21:46
buybit and other platforms so i’ll leave
21:48
them linked in the description on how to
21:50
trade futures you can do that but with
21:52
futures you can leverage up so you can
21:53
put a thousand dollars an account go 2x
21:55
leverage and open a position that is
21:58
worth two thousand dollars the reason
22:00
why people do this is because you can
22:02
take advantage of much smaller price
22:03
movements so as long as you have your
22:05
risk management in place you know you
22:07
can take advantage of a two to five
22:09
percent move you know and that obviously
22:11
with two times leverage works out a lot
22:12
more um so that is really the benefit of
22:15
futures they there are they are
22:17
beneficial but there are also risks so
22:19
what i’m going to do here is really
22:21
quickly show you um let’s say you want
22:23
to go long here so you are a buyer you
22:25
put in a limit order um at this price
22:28
and you put in whatever you need to
22:31
uh you know go with take profits and
22:33
stop losses when trading futures you
22:35
have to have a stop-loss loss in place
22:37
because if something goes south you’re
22:39
in big trouble you could lose you know
22:41
all of especially if you’re using five
22:42
times or ten times leverage you know a
22:45
10 10 move is going to wreck your
22:47
account so always when trading futures
22:50
put in a stop loss at a certain level
22:53
and we’ve seen that with areas of value
22:55
earlier on in this video a stop loss
22:57
would be for example
22:59
five or ten percent away from your entry
23:02
price and you can see that here that
23:04
will when you enter the order that will
23:06
enter a secondary order which is a sell
23:08
order below your entry to stop any
23:10
further losses if the trade moves
23:12
against you futures have their
23:14
advantages they’re also much more risky
23:16
because you can leverage up you don’t
23:18
have to leverage you can use one-time
23:20
leverage but with futures there’s
23:22
certain things to consider and a stop
23:24
loss would always be recommended the
23:26
next tip and this is the most important
23:28
one for sure is to have a plan and stick
23:30
to that plan and
23:31
don’t try and project something onto a
23:34
chart and an asset that you just want to
23:36
happen this is the most difficult thing
23:39
being patient um understanding where the
23:42
chart is what the asset is telling you
23:45
and then choosing whether or not to
23:46
trade rather than saying i want to make
23:48
a hundred dollars a day and so i’m gonna
23:50
go in make a bad decision because you
23:53
personally want to earn a hundred
23:54
dollars a day rather than being
23:56
objective and saying
23:58
is this actually a good trade or not i’m
24:00
going to give you an example of this
24:03
right now as i’m making this video tara
24:05
luna has been on an absolute tear it’s
24:07
come into the top ten it’s up 42 percent
24:10
um and a lot of people are kind of
24:12
fomoing right they’re thinking ah this
24:14
thing keeps going up and i can’t get in
24:16
um it’s a great asset so what should we
24:19
do here so if i want to go long and i
24:21
want to make money from terror
24:23
firstly that’s the wrong thing because
24:26
whatever you want is not where you
24:29
should start your trading journey so i’m
24:31
going to come over to the buy bit chart
24:32
right here and remember everything i’ve
24:34
said in this video finding areas of
24:36
value and everything like that so you
24:38
can see on the chart we have a 20 and a
24:40
50. buy a bit i’ve only just added this
24:42
so the 100 isn’t there
24:44
what can you see from this chart where
24:46
is the area of value do i want to go
24:48
long here in anticipation of it going up
24:50
to 100 what i can see is an incredibly
24:53
bearish candlestick here so the price
24:55
got up to 98 and then
24:58
obviously some big sellers came in and
24:59
just sold it off
25:01
where is the area of value on this chart
25:03
should i get in here to be honest no
25:06
let’s look at the area of value so i’m
25:08
just going to draw um a rectangle right
25:11
here i can see the previous area of
25:13
value is right up here around 70. let’s
25:16
draw this on
25:18
this is where i would be looking to get
25:20
in
25:21
you can see that the blue
25:23
moving average is obviously converging
25:26
and kind of coming up to this level as
25:28
well this may be support is luna gonna
25:31
get here is it going to consolidate up
25:32
here i don’t know but right now would be
25:36
a kind of a bad time to get in because
25:38
we’re neither at support or breaking
25:41
through resistance and so for me even
25:43
though i like luna and want to add some
25:45
more i’m gonna have to hold off for this
25:47
trade i don’t want to be right in the
25:50
middle where it could go either down to
25:52
this level you know or potentially up
25:55
i just don’t know you can’t predict the
25:56
future you have to trade from levels so
25:59
i can’t project my own wants and needs
26:01
to earn money um against the chart that
26:04
is telling me that it’s just not the
26:05
right time to buy so you have to look at
26:07
the chart on what what it’s telling you
26:09
i actually much prefer the bitcoin chart
26:11
here
26:12
if you’re looking at levels of support
26:15
and resistance you can see we have a
26:17
period of consolidation the price is
26:19
attempting to move up through uh
26:21
previous resistance moving averages and
26:23
we have
26:25
another area that potentially the price
26:27
could move to that would be
26:29
a trade that actually has a better risk
26:32
reward ratio for me than trading in luna
26:35
which has been
26:37
mooned and then is potentially coming
26:39
back to support way lower so do not
26:41
project what you want to happen onto a
26:44
chart you have to objectively look at
26:45
the chart and decide whether
26:48
the trade is actually a good risk reward
26:50
or not so that is the very basics of
26:53
setting up trading looking at news and
26:55
flow and charts to try and make some
26:57
better decisions on what you want to
26:59
trade for sure if you want to know way
27:01
more in depth of this and you want to
27:02
know specifically how to enter orders
27:05
how to do technical analysis i have a
27:07
whole section in my course on trading
27:09
you can see it here there’s tons of
27:10
videos more added over time do check
27:12
that out if you are looking um just for
27:15
an all-in-one crypto trading and
27:16
investing solution that will be added to
27:19
for free over time
27:20
a one-time payment discord groups and
27:22
everything like that also if you want to
27:23
trade on buy a bit um there are deposit
27:25
bonuses on there as well um and you can
27:28
look in the description for you know the
27:29
platforms i use some extra helpful
27:31
videos and everything like that i’m
27:32
james with money’s ug cheers for
27:34
watching and i’ll see you in the next
27:35
one