Bollinger bands youtube
My settings with only a little tweaking will be enough to survive a lot of mini crashes and corrections though.
This is a good risk management strategy as this means you are reducing the amount of exposure to risk when the market turns. I would use this with caution but it can be very useful once a crash is confirmed, because you can simply save your btc before your alts tank more. After they had panic sold, altcoins and BTC started recovering.
To coaching clients I will explain in detail how I determine market bottoms, and at some point I will be either making a Youtube video or another post about this. Sell only mode triggers will turn off the bot upon certain market conditions. Alts have somewhat of a complex relationship with btc and some alts have almost no correlation to btc whereas others do.
DCA Rebuy timeout- this prevents the bot from making another DCA buy within the specified time period, expressed in minutes. Most PT users seem to ignore this or have it on something very low like 30 minutes.
Again it makes no sense from a risk management point of view to have no or a short rebuy timeout. Think about it, how much safer is your account from being ruined by a bag if you are only allowed 1 DCA buy per pair a day or every 2 days? A lot, and again why my accounts are able to survive harsh market conditions and still be safe unlike the overwhelming majority. A final word about the creator Elroy, who an excellent and very helpful and well organised developer.
Many of us have used other bots which had less reliable developers, who ignored bugs or provided poor customer service or we had been left scratching our heads as to why the bot made those buy decisions. Additionally Elroy constantly adds new tweaks and features.
Profit Trailer is constantly evolving and the creator Elroy is getting feedback all the time, from some very experienced botters and traders and inputting it into the roadmap, and it gets bit by bit more advanced with each release. I am now also part of the beta testing team, and we are using the prototype PT 2. I see this question a lot, and it is well meaning but very niave to assume you can get an exact figure every day.
Firstly markets fluctuate a lot. You may have a month I would say the end of February to early March has been like this where the market is completely choppy and accounts are stable and neither growing much nor losing much.
But overall, my accounts have grown far faster than had I had to trade them alone without PT. Is it possible to turn 1k into a million?
But on a bull run it will exceed your expectations, possibly beyond your imagination! There is no magic button ultimately, and if someone claims there is, be very sceptical about their claims and dig deeper. Markets move in cycles and you have to learn to deal with the rough as well as the smooth. If you understand this, it will make you a much better trader, bot or not. The market is an artist, not a computer.
It has a repertoire of basic behavior patterns that it subtly modifies, combines and springs unexpectedly on its audience. A trading market is an entity with a mind of its own. There are no predetermined, never-fail levels where the market always changes. Everything the market does today must be compared to what it did before. I explain this in more detail to any clients. I have recently recorded a video demonstration with a client who came to see me in person to explain this and will upload it once I get the time.
The package I have is: Is it worth it. Am I likely to see any sort of worthwhile returns? First of all there is a difference between an entire market crash, and altcoin but not btc crash and a short pullback i.
PT will deal with moderate pullbacks, and even many altcoin crashes quite well so long as your DCA is set to quite cautious levels like I described previously or you panic sell as soon as the crash is confirmed.
Let me give you an example, during November and mid December when BTC super-mooned from USD to 10, and then again from 10, eventually to 20, by the end of Dec there was an Altcoin crash initially in November because people were selling their alts quickly to buy BTC as it was shooting up very fast.
There is also a difference between an altcoin crash and an entire market crash. The crash of Jan- Feb was an entire market crash where everything went down. I did use panic sell during that one, because the bad news was relentless and really should have used it earlier, but it was still enough to save myself a fair chunk. Rarely, but only briefly to update to a new version. My account has grown the most on Binance.
However on some days and weeks Bittrex does outperform Binance, and some people have said to me Bittrex is better. If you have the capital you could have bots for both. Also once you have a license exchange you can have multiple bots trading different base currencies e. There was a recent hack attempt on Binance. Luckily the Binance team prevented withdrawals from the fraudsters and are implementing refunds for fake trades.
Most of the people hacked have never used a bot, and there was no PT user I spoke to who had lost funds, Binance has since confirmed that the attack was down to Phishing. There are several things you should do to up your security whatever you do in crypto.
On Bittrex you can restrict IP addresses for trading and withdrawals. Use a phishing blocker such as Metamask, Comodo, Avast, Malwarbytes. These are all free and are good anti virus programmes. I use Avast Sandbox which works on the free version , Comodo has a free sandbox feature too.
For example you can access your Remote Desktop VPS using a Sandbox and also setup Microsoft Word and Excel, or for that matter any area of your computer to run in a sandbox only. Finally, use a hardware wallet to store your coins and profit withdrawals. My preferred choice is the Ledger Nano which is the most popular brand. If you are not using a hardware wallet, you are leaving your money potentially in the open.
No one can access your wallet because it is like a physical safe key and without physical access to it and the keycode, no one can take your coins. All the strategies and settings are explained in detail here.
Go here to buy Profit Trailer. Click here to sign up for Binance , the most trustworthy and profitable exchange. Binance has an amazing number of coins with huge potential, and the CEO has appeared in the media he was recently featured on the front page of Forbes printed edition! Sign up for Tradingview, the best charting service on the internet.
Coinigy is also a great charting service. Profit Trailer feeder is a very popular addon to PT which can dynamically adjust your settings in different volatility, market conditions helping you create a system that switches buy and sell strategy according to what the coin or market is doing. I know both the creator Mehtadone we actually live near each other in London!
I have recently met Mehtadone in person and we have recorded a tutorial on PTF 1. I will explain in brief how I and other use PTF, and why it is a significant upgrade: There is a lot more PTF can do, the list is almost endless. I keep repeating managing risk is vital in trading and PTF allows you to do that to a very detailed level. I believe in quality over quantity and have no interest in releasing half an hour of waffle where you will learn nothing.
Edit I just recently created a new thread on Bitcointalk. I was previously a coach for Gunbot, and helped a lot of people make their bot trading profitable so have lots of botting experience. I will show exactly all the methods I use plus their logic, and you can apply it or you can create a hybrid of your own. My belief is that if you take the attitude of wanting to learn everything you possibly can, constant improvement, marrying the technical and the mental that is the way to succeed.
When I started on this journey one of the difficulties I had was finding there was so much noise and contradicting information out there. I set out to learn all this from more experienced people and reading until I got some answers. That is what I aim to do for anyone who wants to work with me. I will am in discussions with Blitz, Squiggles, and CryptoProfitBot about doing a joint coaching service where we offer a range of advanced users knowledge in a special area the discussions are still at a very early stage so I will be phasing out at least part of my coaching programme and integrating it into a joint offer With Blitz, Squiggles and some others, so that.
Please subscribe to my Youtube channel for more announcements at a later date- I will also be uploading a lot of free premium content on my channel when I finally have the time to edit it- I have hours worth of stuff I recorded with people who did 1 to 1 sessions with me, stay tuned. You can choose classic or cents accounts to diversify the portfolio and increase your profits.
Islamic account option is also available. Become a VIP client and get more benefits. Bullish movement stuck a little at the resistance area The first October week will be an interesting and busy, we want to highlight four major events that will shape the market mood and influence the course of trading.
Trend strength indicator ADX is in a very passive state, that corresponds to continuation of bitcoin flat in either the narrow range of lower Bollinger band But more likely, we can consider only the first scenario. Scenario of decline is coming true within downswing that was triggered by pinbar at the edge of upswing that we covered in the previous weekly report. Subscribe to our YouTube channel and be aware of analytics published on the daily basis, weekly outlooks, educational videos and other useful content from our specialists.
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Notice how the price and volume broke when approaching the head fake highs yellow line. To the point of waiting for confirmation, let's look at how to use the power of a Bollinger Band squeeze to our advantage. Notice how leading up to the morning gap the bands were extremely tight. Now some traders can take the elementary trading approach of shorting the stock on the open with the assumption that the amount of energy developed during the tightness of the bands will carry the stock much lower.
Another approach is to wait for confirmation of this belief. So, the way to handle this sort of setup is to 1 wait for the candlestick to come back inside of the bands and 2 make sure there are a few inside bars that do not break the low of the first bar and 3 short on the break of the low of the first candlestick. Based on reading these three requirements you can imagine this does not happen very often in the market, but when it does, it's something else.
The below chart depicts this approach. Now let's look at the same sort of setup but on the long side. Below is a snapshot of Google from April 26, Notice how GOOG gapped up over the upper band on the open, had a small retracement back inside of the bands, then later exceeded the high of the first candlestick.
These sorts of setups can prove powerful if they end up riding the bands. This strategy is for those of us that like to ask for very little from the markets. Essentially you are waiting for the market to bounce off the bands back to the middle line. You are not obsessed with getting in a position and it wildly swinging in your favor. Nor are you looking to be a prophet of sorts and try to predict how far a stock should or should not run.
By not asking for much, you will be able to safely pull money out of the market on a consistent basis and ultimately reduce the wild fluctuations of your account balance, which is common for traders that take big risks. The key to this strategy is waiting on a test of the mid-line before entering the position. You can increase your likelihood of placing a winning trade if you go in the direction of the primary trend and there is a sizable amount of volatility. As you can see in the above example, notice how the stock had a sharp run-up, only to pull back to the mid-line.
You would want to enter the position after the failed attempt to break to the downside. You can then sell the position on a test of the upper band.
If you have an appetite for risk, you can ride the bands to determine where to exit the position. This is honestly my favorite of the strategies. If I gave you any other indication that I preferred one of the other signals, forget whatever I said earlier. First, you need to find a stock that is stuck in a trading range. The greater the range, the better. Now, looking at this chart, I feel a sense of boredom coming over me. However, from my experience, the guys that take money out of the market when it presents itself, are the ones sitting with a big pile of cash at the end of the day.
In the above example, you just buy when a stock tests the low end of its range and the lower band. Conversely, you sell when the stock tests the high of the range and the upper band. The key to this strategy is a stock having a clearly defined trading range.
This way you are not trading the bands blindly but are using the bands to gauge when a stock has gone too far. You could argue that you don't need the bands to execute this strategy.
However, by having the bands, you can validate that a security is in a flat or low volatility phase, by reviewing the look and feel of the bands. So, instead of trying to win big, you just play the range and collect all your pennies on each price swing of the stock. Like anything else in the market, there are no guarantees. Bollinger Bands can be a great tool for identifying volatility in a security, but it can also prove to be a nightmare when it comes to newbie traders.
Don't skip ahead, but I will touch on this from my personal experience a little later in this article. Not exiting your trade can almost prove disastrous as three of the aforementioned strategies are trying to capture the benefits of a volatility spike.
For example, imagine you are short a stock that reverses back to the highs and begins riding the bands. What would you do? While bands do a great job of encapsulating price movement, it only takes one extremely volatile stock to show you the bands are nothing more than man's failed attempt to control the uncontrollable.
While there is still more content for you to consume, please remember one thing - you must have stopped in place! Let me help you out if you are confused - kill the trade! While bandsdo a great job of encapsulating price movement, it only takes one extremely volatile stock to show you the bands are nothing more than man's failed attempt to control the uncontrollable. Strategy 5 - Snap back to mthe iddle band, will work in very strong markets.
I have been a breakout trader for years and let me tell you that most breakouts fail. Not to say pullbacks are without their own issues, but you at least minimize your risk by not buying at the top.
Shifting gears to strategy 6 - Trade Inside the Bands, this approach will work well in sideways markets. Because you are not asking much from the market in terms of price movement.
From my personal experience of placing thousands of trades, the more profit you search for in the market, the less likely you will be right.
Don't worry, I'm not about to go on a history lesson on cryptocurrencies with details of where David Chaum went to college. I was reading an article on Forbes, and it highlighted 6 volatile swings of bitcoin starting from November through March So, I wanted to do my own research and I looked at the most recent price swings of Bitcoin in the Tradingsim platform. Let's look at the period of December 22, ,to December 27, During this period, Bitcoin ran from a low of 12, to a high of 16, Let's unpack this a little further.
Do you realize that these gains were largely made over 3 days' worth of trading? I am getting a little older now and hopefully a little wiser and that kind of money that fast, I have learned is almost impossible for me to grasp. The psychological warfare of the highs and the lows become unmanageable.
So, it got me thinking, would applying bands to a chart of bitcoin futures have helped with making the right trade? I indicated on the chart where bitcoin closed outside of the bands as a possible turning point for both the rally and the selloff. But let's be honest here, this is a minute chart of a highly volatile security.
You must honestly ask yourself will you have the discipline to make split second decisions to time this trade, just right? The one thing the bands manages to do as promised is contain the price action, even on something as wild as bitcoin. I honestly find it hard to determine when bitcoin is going to take a turn looking at the bands. It's not that the bands are doing anything wrong or not working. Bitcoin is just illustrating the harsh reality when trading volatile cryptocurrencies that there is no room for error.
I personally do not trade bitcoin, but after looking at the most recent price swing using bands a couple of things come to mind:. Pairing the Bollinger Band width indicator with Bollinger Bands is like combining the perfect red wine and meat combo you can find. In the previous section, we talked about staying away from changing the settings.
Well, if you really think about it, your entire reasoning for changing the settings in the first place is in hopes of identifying how a security is likely to move based on its volatility. A much easier way of doing this is to use the Bollinger Bands width. In short, the BB width indicator measures the spread of the bands to the moving average to gauge the volatility of a stock. Well, now you have an actual reading of the volatility of a security, you can then look back over months or years to see if there are any repeatable patterns of how price reacts when it hits extremes.
Still, don't believe me? Look at the below screenshot using both the Bollinger Bands and Bollinger Band width.
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