What is the upshot of trading BTC/USD?
You can take advantage of the volatility of the cryptocurrency market. And with proper risk management, you can make solid gains.
DO YOU WANT TO TRADE?
Can you explain your strategy for this particular pair?
I look at the price and I look at the momentum of the price and I use a concept called divergence where if a market is falling and its momentum is rising and that means there is more downside to come however if the price is falling but the momentum is slowing up then there is a high probability of a turning point and thats whats called normal divergence similarly if the price is rising but a momentum is slowing up then there is a chance that there is going to be a turn.
Does technical analysis work?
I think we don‚t trade markets but we trade our beliefs about markets so if these people have a stronger belief in that then it has never worked for them that‚s for sure. There are some very, very advanced esoteric theories and technical analysis that are very difficult to put into practice in terms of a structured trading plan. I do not know any trader who makes a decision without looking at some form of technical analysis.
ARE YOU INTERESTED IN FOREX?
Why do you think technical analysis works?
By putting together some simple trend-following tools, you can increase your rate of return enormously. You don’t have to use Elliot waves, but I think some really simple patterns that share good fundamentals can really put you in a position where youre right seventy five percent of the time. If youre right seventy five percent of the time youre only wrong twenty five percent of the time and that minimises the clusters so you‚ll find the journey is not that difficult emotionally.