I'm Rod_PrimeHodler๐๐ฝ๐
I share key crypto news to enhance your trading insights and aid your crypto journey. Join me for prime updates! ๐๐
I wish I would of known these 3 things before I started
I went from losing $1,000โs day trading just by following this steps ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐๐ฟ๐๐ฐ๐๐๐ฟ๐ฒ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐ฎ๐ฐ๐๐ถ๐ผ๐ป and ๐น๐ถ๐พ๐๐ถ๐ฑ๐ถ๐๐ to enter and exit trades Here is how to find and read them ๐
1. ๐ ๐๐ฅ๐๐๐ง ๐ฆ๐ง๐ฅ๐จ๐๐ง๐จ๐ฅ๐๐ฆ First we need to understand and identify the three market structures 1. Up trend 2. Down trend 3. Consolidation/Range/Sideways
2. ๐๐๐๐ก๐ง๐๐๐ฌ๐๐ก๐ ๐ง๐ฅ๐๐ก๐๐ฆ Uptrends - Are identified by Higher highs and higher lows Downtrends - Are identified by Lower high and Lower lows Sideways - Is identified by the lows and highs almost if not equal forming a box 3. ๐ง๐๐ ๐ ๐๐ฅ๐๐ ๐๐ฆ ๐ง๐ข ๐จ๐ฆ๐ MACRO TRENDS - DAILY WEEKLY MONTHLY MICRO TRENDS - 4HR 1HR 30Min 15Min 5Min Micro trends will help you identify a intraday trend for good entries and exits Macro trends will help you identify the overall trend to keep you in the trade loop ๐ง๐๐ ๐๐๐ฅ๐๐ ๐๐ฆ ๐๐ข๐ก๐ง. Donโt get stuck on the smaller timeframes like the 5 min One thing that has helped me find liquidity, not panic sell and swing trades is looking at the higher timeframes Always zoom out and look at the bigger picture and macro trends 4. ๐๐ข๐ฆ ๐ฉ๐ฆ ๐๐๐ข๐๐ Now that we have identified how to find trends letโs look at how to trade them We have two concepts to know BOS - Break of Structure CHOCH - Change of Character
๐๐ข๐ฆ ๐ฉ๐ฆ ๐๐๐ข๐๐ ๐๐ข๐ก๐ง. BOS - it means the break of a lower low in the case of a bearish trend, while during the bullish trend, it means the break of a higher high. CHOCH - Break of lower high or higher low: after the break of structure, the price will reverse to change the trend. Then it will break the recent LHs or HLs. In the case of a bullish trend, the price will break the higher lows, while during a bearish trend, the price will break the lower highs. Trend change: after the above steps, the price will change its trend. This is known as a ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ ๐ผ๐ณ ๐ฐ๐ต๐ฎ๐ฟ๐ฎ๐ฐ๐๐ฒ๐ฟ in the market. For example, if the last character of the market was bullish, then it has been changed to bearish.
5. ๐ฅ๐๐๐ ๐๐๐๐ ๐๐ซ๐๐ ๐ฃ๐๐ Here is an example of the BOS and CHOCH pattern. After a series of bearish trend (LL LH), the price breaks the lower low into a Higher high. This signifies a BOS into a CHOCH which should give a trend reversal. 6. ๐๐ข๐ช ๐ง๐ข ๐๐๐ก๐ ๐๐๐ค๐จ๐๐๐๐ง๐ฌ ๐ง๐ข ๐ง๐๐๐ ๐ง๐ฅ๐๐๐ Enter a trade: When a Choch pattern forms, mark a supply/demand zone based on the recent trend. Wait for the price to retrace to the zone and then enter trade in the direction of the trend reversal. Add the stop loss level: Put the stop loss a few points below the demand zone. If it breaks below it would invalidate the trade since it creates a Lower low Take profit: Exit the trade when a counter-trend choch pattern forms on the chart again.
7. ๐ช๐๐๐ง ๐ช๐ ๐๐๐๐ฅ๐ก๐๐ - Find trends - Understand Price action and Market Structure - Find liquidity to take trades - Timeframes to use - BOS vs CHOCH
Great tool to avoid losses, IMO it is best used for scalping than day/swing trading
Panda Traders
--
USE TRAILING STOP LOSS AND NEVER LOSE MONEY LIKE A PRO . Its my secret Stretagy ๐ค ๐ How to Use Trailing Stop Loss (TSL) in Trading
A Trailing Stop Loss (TSL) helps lock in profits while allowing a trade to run. Instead of a fixed stop loss, it moves dynamically based on price movements.
How It Works:
Set Initial Stop Loss (SL): Place SL at a safe level based on risk management.
Define Trailing Distance: Decide how much the price must move before SL updates (e.g., 2%, $0.50, etc.).
Price Moves Up โ SL Adjusts: As the price rises, the stop loss follows at a fixed distance.
Price Drops โ SL Triggers: If the price drops by the trailing amount, the stop loss executes.
The 20-Day Binance Challenge: Transforming $100 into $2,000 with 5-Minute Candle Trades
Turning $10
The 20-Day Binance Challenge: Transforming $100 into $2,000 with 5-Minute Candle Trades Turning $100 into $2,000 within 20 days might sound ambitious, but with the right approach, itโs achievable. This challenge focuses on consistent, disciplined trading strategies, leveraging small, calculated wins to snowball profits. Whether youโre a seasoned trader or a newcomer, this guide will equip you with the tools, mindset, and strategies to make this goal a reality. --- The Strategy for Success Starting with $100, every trade must be intentional and well-calculated. The goal isnโt about taking big risks on a single trade but steadily growing your portfolio with incremental gains. The keys to success are diversification, technical analysis, and risk management. Hereโs the core game plan: 1. Diversify Trades: Spread capital across 2โ4 trades, targeting smaller and mid-cap coins. 2. Focus on Breakouts: Identify high-probability setups near support levels and secure exits near resistance to lock in profits. 3. Gradually Scale Up: Increase trade sizes as you build momentum and grow your capital. --- Winning Strategies to Maximize Growth 1๏ธโฃ Leverage the Power of Compounding Every small win is reinvested to build momentum. For instance, turning $100 into $150 allows you to take larger positions, compounding gains faster toward your $2,000 goal. 2๏ธโฃ Mastering 5-Minute Candle Trades Using 5-minute charts, focus on breakout patterns like bull flags, triangles, and double bottoms. Wait for confirmation of breakouts at key resistance levels to avoid fake moves. Always use tight stop-losses to protect your capital. 3๏ธโฃ Prioritize Risk Management and Diversification Never risk more than 5โ10% of your portfolio on a single trade. Splitting your capital into multiple trades reduces exposure and protects against significant losses. --- The Mindset for Success Success in trading is as much about mindset as it is about strategy. Avoid these common pitfalls: Emotional Trading: Donโt chase hyped coins or trends on social mediaโtheyโre often traps. Stick to well-researched trades. Overtrading: Not every price movement requires action. Be patient and only trade strong setups. Neglecting Risk Management: Always use stop-losses to minimize losses and keep your portfolio intact. --- Handling Pressure: Stay Calm and Trust the Process Having a time limit can add pressure, but staying disciplined is crucial. Some setups may take time to play outโtrust your strategy and avoid panic selling. Remember, small wins of $5 or $10 add up over time and can lead to significant gains through compounding. --- Execution Plan: A Day-by-Day Approach Days 1โ5: Start small and focus on quick scalps to double your initial $100. Target short-term breakouts and exit trades early to secure profits. Days 6โ12: With a larger balance, increase trade sizes and target more volatile assets. Look for ascending triangles, bull flags, and continuation patterns to ride trends. Days 13โ19: With $500โ$800 in your portfolio, target mid-cap coins with news-driven momentum. Diversify trades to mitigate risk and take advantage of multiple opportunities. Day 20: Approach the finish line with caution. Reduce trade sizes to protect profits and use trailing stop-losses to lock in gains. Avoid emotional mistakes by sticking to your plan. --- The Finish Line: $100 to $2,000 By the end of the 20 days, if youโve stayed disciplined, you should see a significant boost in your portfolio. Even if you fall slightly short of the $2,000 target, the skills and strategies youโve developed will set you up for long-term trading success. --- Key Takeaways for the Challenge Consistency is Key: Small, steady wins compound into substantial gains. Patience Pays Off: Wait for strong setups and avoid impulsive trades. Stick to Your Plan: Every trade should align with your strategyโdonโt deviate under pressure. --- Are You Ready to Take on the Challenge? The market rewards those who are prepared, disciplined, and patient. With the right mindset and strategy, you can turn $100 into $2,000โone smart trade at a time. Good luck, and letโs make those candles work in your favor! #BinanceTrading #CandlePatterns #CryptoJourney #SmartInvesting
Avoid trading in cryptocurrencies at the following times:
1. *During major news or high volatility*: When influential economic or political news is released, such as inflation reports, bank interest decisions, or news related to cryptocurrencies themselves. These times witness significant fluctuations that may lead to losses if you are not sufficiently informed.
2. *During weekends*: Traditional markets are closed, which reduces liquidity and increases volatility. Unexpected price movements may occur during these periods.
3. *Times of low liquidity*: When liquidity is low, it may be difficult to enter and exit trades at a good price.
4. *When the market is in a state of consolidation*: If the price is moving within a narrow range without a clear direction, it is better to avoid trading to reduce the chances of loss.
5. *When feeling hesitant or emotional*: If you are nervous, afraid, or impulsive, you may make irrational decisions. Trading should be based on a clear strategy and a prior plan.
6. *During ICO or Breakout Events*: Some events can be unexpected and difficult to estimate their impact on the market, so it is better to wait until things stabilize.
Additional Tips:
- Stick to a clear trading plan. - Use technical and fundamental analysis to determine the best times. - Maintain risk management at all times.#MicroStrategyJoinsNasdaq100 #CryptoUsersHit18M #BinanceLaunchpoolVANA #BinanceListsVelodrome #BitcoinKeyZone