Trading Principles -- Updated 2018/10/4
to Snerx -- Contact us on our official Discord
Standard BTC/USD chart
on TradingView. The indicators used and what they mean:
• HA - Heikin Ashi
• BB - Bollinger Bands
• SAR - Stop And Reversal
• RSI - Relative Strength Index
• SRSI - Stochastic RSI
• MACD - Moving Average Convergence Divergence
• CHOP - Choppiness Index
Basic trade strategies:
• Recognizing basic patterns
and trends is wildly helpful.
• The most basic trade technique is swing trading using RSI
• Amazingly, the CNBC Bitcoin Contraindicator
returns 95% accuracy for Bitcoin price.
Bitfinex has a good explanation of common order types
you'll see on exchanges.
has the best overall chart view of every large mcap cryptocurrency if you
need to monitor multiple coins at once for some reason. BitcoinWisdom
is decent too.
The "Golden Three" in cryptocurrency have shifted from being BTC, LTC, and XRP to BTC,
ETH, and ZEC. The reasons for this are because Litecoin stopped being ASIC resistant,
which was it's selling point, and Ripple is a shit-tier company (take it from someone
that was on the inside) that is aiding the enemy - fiat. Etherium is by far the most
robust turing-complete cryptocurrency and therefore development platform in the sapce.
Zcash is the most robust private currency to date, with Monero being a close second.
You should never have to bother with any currency outside of the golden three if you
are just going to be day trading or scalping, not just because the rest are irrelevant
technologies, but because trading them artificially inflates their volumes, making
them look more viable as technologies than they really are.