Motiv8tors together with BWC(Bitcoins Wealth Club) society provides in public the top 5 technical analysis indicators to determine in less than 5 minutes when is a good time to trade for profits!
First of all let’s talk about the goals, your goals with trading cryptocurrencies:
– Increase the amount of Bitcoin that you currently have.
-Accumulate cryptocurrencies for the long term buying them at low prices at the dips so that you can sell them later for big profits.
-Protect your wealth and increase your financial net worth in USD value
And the only way you are going to accomplish those goals is with these trading indicators I am going to explain to you in simple words.
Also couple of very crucial rules to ensure you minimize your risks
- Make sure you hold your Bitcoin and altcoins in Trezor or Ledger hardware wallet for your long term holdings if you don’t trade them.
- Spread your trading funds out over 2-3 exchanges, that way if one gets hacked your total trading portfolio is not wiped out.
- Risk no more than 1-2% of your account per any trade.
- The higher the trading amount the lower should be your stop loss. For example on $1,000 trade you may put 10% stop loss and $50,000 trade 2% stop loss.
- Start small, whatever capital in Bitcoin you can put into the market and won’t lose any sleep over and practise first on small trades (0.5% of your trading account per trade)
- The strategy in the bear market is to make consistently 1% – 5% gains
- Go for more quality trades than quantity of trades, trade less and earn more! If the trade is not good and all indicators tell to buy, don’t buy.
- Take 100% responsibility for your trading decisions even if you are using trading signals!
- Remember that markets always have cycles, so don’t be greedy (take profits and exit trades) and don’t be fearful (sell in bear trends when asset is undervalued)