{quote} Cool cool, expecting gold to drop more?
{quote} You are doing great. I would like to know what you are doing, calculating. I have not traded cryptocoins.
Observer effect
- Joined Apr 2020 | Status: Member | 1,527 Posts
- Joined Apr 2020 | Status: Member | 1,527 Posts
@ryuryu Why no entry where I marked in black with the vertical line? 1) price above EMA6 high --> Yes 2) you have distance from other EMAs --> Yes 3) you have delta flip --> Yes Maybe because your indicator at the bottom (I'm guessing is volume) is still orange? Thanks {image}
Of course if you wish you can take dark green, green and gray. They are good. But there are so many coins around so there is no need to jump into any signal.
But you right it was very good place to enter, because the distance was very big (red line), the volume was huge. The only thing that was not met is the volume of flip. It is easy to say now that it was good place, in real trading you don't know what will happen next. And you have no time to analyze all the things at once and make your decision. So I prefer just skip such an entries. No regrets if you miss few. You can't earn all the money in the world
Observer effect
- Joined Apr 2020 | Status: Member | 1,527 Posts
Let's talk about volume again.
How to check the volume of an asset in $? And why it is important.
How to check: You must multiply average volume on current asset price (ask, or big - doesn't matter much).
For example:
GMTUSDT, average volume is 265474, in $ it is 315171$
Why this is important? Because on forex and especially on demo forex you can trade literally billions. Like guys trading 5-10 lots on GU, where 1 lot > 100000$.
In real life everything has its limits.
I prefer trade 1/100 of asset volume. It helps to "hide" your trade. For example on GMT I'll trade with 3150$. If I want to trade 10k, I'll trade on 3 assets at once, or I can trade on several exchanges at once and so on.
So real trading is a little bit more complicated then drawing fancy lines on historical charts and post bullshit with serious faces. Before you start your trading day you have to prepare: make some calculations, filter out what you want to trade and so on.
People ask if it real that 95% of retail traders lose? Ha! Check FF. There are new thread with guy who draw lines in mt4 for 13 years. Of course 95% lose. I'm curious that not 99.9% in this case. Imagine: 13 years of "trading" but zero knowledge of what is the difference between market and limit orders, how market works, how volume affect it. He can't answer simple question how margin calculated. Nothing. Zero. Null. He learned for 13 years only how to draw lines form previous high/low and how to call them support and resistance.
How to check the volume of an asset in $? And why it is important.
How to check: You must multiply average volume on current asset price (ask, or big - doesn't matter much).
For example:
GMTUSDT, average volume is 265474, in $ it is 315171$
Why this is important? Because on forex and especially on demo forex you can trade literally billions. Like guys trading 5-10 lots on GU, where 1 lot > 100000$.
In real life everything has its limits.
I prefer trade 1/100 of asset volume. It helps to "hide" your trade. For example on GMT I'll trade with 3150$. If I want to trade 10k, I'll trade on 3 assets at once, or I can trade on several exchanges at once and so on.
So real trading is a little bit more complicated then drawing fancy lines on historical charts and post bullshit with serious faces. Before you start your trading day you have to prepare: make some calculations, filter out what you want to trade and so on.
People ask if it real that 95% of retail traders lose? Ha! Check FF. There are new thread with guy who draw lines in mt4 for 13 years. Of course 95% lose. I'm curious that not 99.9% in this case. Imagine: 13 years of "trading" but zero knowledge of what is the difference between market and limit orders, how market works, how volume affect it. He can't answer simple question how margin calculated. Nothing. Zero. Null. He learned for 13 years only how to draw lines form previous high/low and how to call them support and resistance.
Observer effect
- Joined Apr 2020 | Status: Member | 1,527 Posts
That's how that F scammers scam you.
Remember one thing: if guy say that he trade for 13 years with "lines" on the chart he is F scammer.
I just asked that little scammer 2 questions:
Observer effect
- View Post
- Disliked by Thread Starter
- View Post
- Disliked by Thread Starter
- View Post
- Disliked by Thread Starter
- Joined Nov 2020 | Status: Been And Gone. | 1,311 Posts
Trading's for those who learn independently. Everyone else is just blind.