A Simple Trading Strategy from Anon
Okay, niggers, listen up. I'm going to share with you the best and easiest way to daytrade anything. No memelines, not autistic TA, no complex indicators. Just one simple rule.
5 minute charts MA 5 MA 13
Buy the candle that makes MA5 pass MA13. Sell when MA13 hits MA5. Stoploss at 1% of entry point.
It's literally free money. Boot up whatever charting tool your are using and check your favorite pair and see for yourself. This method makes gains on 8/10 trades. Works both ways, you can go long or short, or even back and forth if things line up well. Even better if you're using a little bit of leverage, like 3x-5x.
UPDATE: 2018-03-10 - This is shit.
Doing this on multiple time frames and multiple markets will be huge.
He really helped me understand hidden divergence. Regular divergence was a bit more intuitive, and I was able to use it in trading right away, but hidden divergence was hard to train myself to see.
Things to Learn
RSI - hidden divergence
BabyPips - Go through lessons daily.
I should start practicing on their testnet with an account that is not associated with my IRL identity.
Try Shorting On BitMex
Use a short timeframe on the testnet, and practice the mechanics of shorting.
This downtrend didn't end until the 4h showed divergence.
It also had a W-bottom at the end.
Just now, it hit the top of the 4h bband and looks to be pulling back. I think it will pull back to the midpoint of the 4h, but I could be wrong.
It kept going up
On the 30m, there's still a good amount of bullish momentum. That last red candle turned into a green candle, but it's also a hangman now. There was a dip to the midpoint of the 30m before it shot up. If it can't go significantly higher, the 30m may start showing bearish divergence.
3:16pm - $9746
3:41pm - $9553 pump to 9.7 was short lived.
It's still meandering toward the 30m midpoint. What it will do after that, I'm not sure. It could correct there.
Let's see if it really bounces.
4:08pm - There's also a hammer at the bottom.
5:40pm - It's currently at 9600. A little bounce is in progress. It seems to be following the 30m midpoint up.
It was looking good at 9800 but then it dumped down very quickly to 9300.
The 1h showed slight bearish divergence and bam.
Next Long Target
Potential 1d Bullish Divergence
- Starting price between close:6816.01 and low:6450 on 4/1 candle
- Ending price below the close but preferably below the low.
- Ending price also near the bottom of the 1d bbands.
- That's why I don't consider the pump on Saturday 4/7 to be a proper 1d bullish divergence. The 4/6 candle where the reversal started is to high above the bottom bband.
- However, I do consider it a legit 1h bullish divergence (and also a legit 30m bullish divergence).
- It's 9:59pm on a Saturday evening, and this pump is about done.
- I should take profits while I still have them.
- I have a sell order at 7011, but I am afraid it might not make it there.
Potential 4h Bullish Divergence
- Starting price 6450 on 4/1 candle
- Ending price below 6450
Holy shit, I missed what was right in front of me.
There was 12h, 2h, 1h, and 30m bullish divergence happening at the same time, and I missed it. Furthermore, I did a late entry and an early exit, having misinterpreted the chart. It makes sense that I am feeling miserable. Now, I am patiently waiting for yet another late entry. I hate FOMO. I also hate late entries. I only want to have good early entries into my positions.
How can I feel better?
Pray to see opportunities better. I can't believe after all those hours of staring at charts this weekend, I failed to notice until Sunday.