I came here because my previous broker offered a limited choice of cryptos, just three coins. Here I see that the choice of cryptos is larger, although not the largest I saw in the industry. Nevertheless, I firmly decided to try crypto trading here. Could you tell me about execution here? Is it good enough? Advise me some good indicators to trade cryptos in a rage.
The broker’s execution suits me. I don’t see any critical lags here. As for indicators, I think that you don’t need any when there’s a strong trend. Simply buy from the very beginning or do this on pullbacks. When trading cryptos in a range, use Bollinger Bands. I think that it’s the best indicator for crypto range trading.
So, I dared to open a real account with this broker. Of course, I hesitated for some time, but finally I was attracted by the possibility to trade digital coins without commission.
I opened a Silver account with the broker. I couldn’t stick with another account because the rest of accounts here come with high deposits from $10,000 to $100,000. I’m not ready for this yet, but it’s OK that there’s a possibility to open a Silver account with a $100 minimum deposit. However, I deposited $520.
Cryptocurrency is definitely hard to kill. I see that for the last time governments as well as various regulators try to give it a good kick, but I see all their attempts are worthless.
Yeah, cryptos have survived so many clampdowns and overcame so many obstacles that they are bound to occupy a decent place in the financial world. That’s one of the reasons that motivates me to trade cryptocurrency.
I tried to trade Bitcoin and Dash on Webtrader, a pretty good platform. I used Bollinger Bands only. I was lucky to enter the market on both coins on 30 September. I closed my traded on October 1 and my gain on both trades was $230. Not bad, I think I should continue with my crypto trading here.
I wonder where Brent will go soon. Crude is an extremely unpredictable thing. Some people blindly believe that technical analysis alone would be enough to trade crude. Others believe that only fundamental factors should be taken into account when trading crude. I think that crude obeys both fundamental and technical factors as any other assets.
That’s so good to trade in the long-term and its’ dangerous to do this on smaller timeframes. I tried it many times and nearly in all cases failed. It’s too volatile, but I like it.
I entered Brent on 78 and closed on 81. I had to close it earlier. It brought me $175.
Now I wonder whether it will rebound from 83 or breaks through it.
I’m also interested in crude, not so much as in cryptos but I’m going to try this stuff soon.
Being all over absorbed by crude I completely forget about crude-driven currencies and they are definitely worth trading. However, there may be nuances here. On one hand it seems that such currencies straightforwardly follow crude and you think that all you need to do is to open trades on these currencies in the same direction as crude goes, but it’s not so. They go differently and it’s no wonder about it because in addition to crude, there are other nuances that really matter such as interest rates of this pair, jobless rates and so on.
This time I traded USD/NOK. I made two trades in the channel. I entered the market on October 29 and closed the first long trade the same day. At first I thought that’s enough but then decided to try to earn on the reverse move and shorted this pair. I closed on November 2. It all ended up successfully, but now I realize that I risked a lot after the second trade because it could go in the opposite direction. Channel trading can also be cunning. Perhaps, for such a case I should have left several pending orders to respond to an alternative scenario.
Why did you draw a central line in the channel?
It’s because it’s also a crucial element of channel trading. By the way, I didn’t draw it. It’s linear regression available on Metatrader. Go to Insert-Channels and choose Linear Regression. You can use other channels but what makes Linear Regression suitable is that it already comes with a central line. The matter is that sometimes the price doesn’t go straightly from one side of the channel to another but instead it rebounds from the central line and proceeds to cling to one side of the channel, crawling in the cramped space in one direction. It can be the very beginning of a new trend.
I think I should try this linear regression on cryptos.
I tried linear regression on cryptos as I intended. I can say that it’s a very suitable thing for trading because it gives a sort of foundation, the thing I can base my trading on.
This thing is very unsteady. You shouldn’t rely on it too much. It’s not bad but it works in channels only. Any cunning breakout or an unexpected impulse can punish you if you lose control.
Yeah, I see that it doesn’t always work but nevertheless, I appreciate that at least when it moves in a range I can use it. It makes my trading easier. For example, I recently used this thing to trade BTC. It gave me a clue and I bought lower and sold higher. Luckily my trade was successful, although I was afraid that the pattern could be broken and that flat market would vanish at any time.
There’s one thing that I dislike in this MT’s linear regression. It’s hard to manage. I had a hard time placing it on the chart. I think that the developer should improve the usability of this tool.
I heard that there are custom indicators that create this linear this regression channel on any timeframe automatically. If you need, you can google information about them. I don’t exactly remember their names but I know they exist. If you are more and more absorbed by channel trading, you need to catch up with it.
Yeah, I also heard about such indicators. I even know one of them. It’s Spider. I remember cause I used it. It’s a custom indicator made for Metatrader 4. Earlier I even used it in my daily trading. It’s a good alternative to traditional linear regression because unlike linear regression in Metatrader. It’s a true indicator that responses to changes on the market and this channel changes automatically.
On each timeframe this channel is different and generated automatically. Take a look at this one on M15.
Thanks, I’m gonna look for it online. I like that it’s adjusted automatically to fit constant changes in the market. Sometimes I forget to edit linear regression on my Metatrader once something unexpected occurs on the chart. This automation is what I need.
Most of the time I trade crude but for the last time I also started to pay attention to other assets, such as currencies. Frankly speaking, I don’t like currencies despite I trade them because any currency pair always includes two currencies and I have to take into account each.
That’s why I’d better trade such assets as metals or energies where there’s only one element – the asset you trade, such as crude, gold, etc. Trade. com thematic portfolios are also based on the same principle BTW.
Nevertheless, if there’s an opportunity to earn on anything, including currencies, I don’t want to lose this opportunity. What do you think about USD/CHF?
On the daily chart I can clearly see a triangle. The Fed is going to raise the interest rate I guess. I really want to buy at the very beginning of the wave. What do u think of the idea?
I think that now anybody is waiting for an uptrend on this asset just like on most currencies with the US dollar. I hope you’ve baught as planned.
Yet, technically, as of now it looks more like a flat wit 0.9086 - 0.9363 boundaries to me.
So, I tried to use this Spider indicator. I easily found it online. So, I installed it on Metatrader 4 and tried to trade with it. I applied this indicator to various assets and at first I had a feeling that Spider could make trading extremely predictable but as I learned later it wasn’t so easy.
As you see on the screen, this channel drawn by the indicator may be a crap. It let me down, but I luckily managed to avoid big losses. As you see, the price doesn’t always go from one to another channel lines.
