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RE: Why I recomend 1hour candle charts, if your a new trader..

in #trading7 years ago (edited)

Here is my process:
I have a list of favorites, coins that I like the chart and some that I like the project that the coin represents.. (we dont have a merket scanner yet, so I cannot monitor the entire market, but I, just today, again requested that Coinigy work on the market scanner)
Ok so every morning I pull up my Coinigy platform and I go over all the alerts from the night before and make sure I place sell orders on anything I bought while I was sleeping.. Then I go through every chart in my favorites and set alerts or nibble buy orders, anywhere below a base that might get cracked.. then I go to trading my stockmarket, but i listen for any alert going off throughout the day.. after 430 pm when the stockmarket is closed, i raise the volume on my computer, so I can hear any alerts or orders that get triggered throughout the evening.. and thats basically it.. I let the market come to me. I only take trades that are in safe circles (below clear bases) easy peasy

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Your single statement "I let the market come to me" - was my bell going off moment! Thanks a ton!!
God bless you and your family, you're a very good man ~

And BTC is trying to crack its base right now.. we might get a panic..

Hi, I have question relating this. I did once left buy order when I got to sleep and the order did execute but the time I woke up it was already went to base and back down. How do you prevent this happening? or do you only left really stink bids so its unlikely that its gone back to that stink bid level. Other question is how low from base (%) do you put your alerts. Since I get a lot of false alarms and would like to improve that.