Do you remember our discussion of Bitcoin when I showed weekly and monthly timeframes of this cryptocurrency? Wanna sum it up?
Of course, I remember that talk. It’s hard to forget this stuff, especially given that those screens are still on this page, haha. That tip of yours helped me and I tried to keep an eye on BTC more attentively.
I first had to recall it once again after a recent BTC tumble. Once it occured I opened this asset’s weekly and monthly charts and saw that the price was already much closer to the lower boundary of the channel rather than the upper one. So, I’m already waiting the price at the lower boundary to buy Bitcoin at about 36-37k.
Unfortunately AAFX doesn’t give as much leverage for BTC as it does for other assets. So all we have left to do is trade BTC on the upper timeframes.
Your version may come true. However, I don’t think that the price will keep decreasing from the current value to the lower line of the channel. I have a feeling that before hitting that level it may rise to 58k one more time.
This may be, but I personally don’t care because I mostly work on H1 and trade cryptos actively everyday. I don’t want to lose sleep in anticipation of the upcoming move. I do my best to buy and sell it on H1 and it’s much better than not to trade waiting for that lower entry point on the weekly timeframe because the price may come here in a couple of months, for example. I got used to active daily crypto trading with this broker. Bitcoin gives me more than enough ups and downs every day. I like that it’s not so dependant on economy news as traditional assets.
I would like to raise a question. I have been trading for two years but still I can’t understand one thing. Many times I saw one strange thing. The market reacted to the news in the opposite way. I can’t understand it. Now I realize why so many traders refuse to trade on news.
There’s nothing scary in news trading. What I understood from news trading is that we should take this stuff into account but we shouldn’t overestimate news. The matter is that sometimes a pack of positive or negative news can be neglected by market participants because market makers have concrete plans where the market should go and therefore they will not change them just not to offend you.
Yeah, market makers are a very shocking thing for novice traders. Look, people start trading hoping that fundamentals and technical analysis rule only, suddenly they discover that somebody’s interests matter. That’s a very shocking and painful thing to realize that business sharks can move the market up or down based on what they need at the moment. By the way, I realized it recently.
I have an idea explaining why the price may go in the opposite direction no matter what the news told. The opposite crucial price level could be nearer than that one you might have thought should be the primary destination. Perhaps, the price will hit the opposite level and only after this it can go in the direction you hope for.
I like this explanation. Previously I heard about market makers but this explanation of yours is very clear. I will try to use this knowledge in my daily trading.
I’m looking forward to opening a trading account with the broker. I’m curious about 1:2000 leverage provided by AAFX. Much still needs to be learned. So, I think I will start with lower leverage and over time I will increase it.
I had a jolly week with BTC last week. I hoped for a continuation of the growth but instead it was a lengthy flat. I didn’t lose but was very close to it. I had to exit the market with a minor profit.
Later it turned out BTC reacted to the US inflation reported in the way I didn’t expect. So, I exited luckily. It decreased lower than I expected and I could have been stopped out if I hadn’t exitted.
I didn’t try BTC last week. I opened an ECN account and tried to trade currencies with 1:10 leverage. I wanted to start with lower leverage before trying 1:2000, but for some reason I decided to try the smallest possible leverage for currency trading. Unexpectedly, I liked how it all handles drawdowns. I think it would be good for locking. I think I need to get back to my depo to practice new approaches to trading. Maybe I will open one more account for high leveraged trading.
Low leverage is very popular with investors. Thus, they safeguard their depos from pullbacks that could be fatal with big leverage. On the other hand, small leverage needs more margin. If you can afford this, why not?
i would say they are readyy agressvie! but AAFX have to if they want to open up the market
be aware of AAFX . Just a friendly reminder, avoid AAFX. THey have all sorts of shady terms like
- Clients should keep position open for at least 60secs in all types of account, any profit trade close before 60secs will be deleted by the bank and you cannot claim that price again. If the trade is in loss and close before 60secs this trade will not be taken out and loss will stay. If you have more questions related to that feel free to connect the customer support.
i mean straight Bu11shit right? You also can only cchange your MT5/MT4 password with in their website UI… wtf that means THEY HAVE YOUR PASSWORD. Anytime a broker asks you to change password on anything besides the actual MT5 / MT4 terminal, that’s a GIANT red flag
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