Where are all of the indicators on your charts?
A vast majority of my analysis is done with simple price and volume action, I do use Moving Averages and an occasional RSI reading, however, I chose to not use the other hundred “tools” out there for viewing price action. In my experience, I find them more confusing than helpful and at the same time I do not discount their usefulness to other people I just chose to not use them.
Generally what I find is that all of the other indicators signals can be seen in the charts simply by paying attention to price action.
Does TA work?
This question comes up from time to time and of course, I have to say YES!
Technical Analysis is the art of viewing price and volume action and deriving a statistical edge out of that analysis. There are many different styles to technical analysis and I use price and volume, with a few secondary indicators, Moving Averages, trendlines and RSI. There are other ways to analyze markets, Elliot Waves, Fibonacci analysis, MACD and the list goes on and on. However ALL analysis comes from price and volume action, there is no other fundamental data to charting than that and I have honed my craft using just this data.
Technical analysis is not perfect, it does not “predict” the future. What it does do is give you a signal that you should pay attention to, ignore or buy an asset. There are many thousands of people around the globe using technical analysis to make money every day, if not why are we talking about it?
What are your YouTube videos about?
My YouTube channel has hundreds of videos, the topics and time frame for the analysis changes in each video. In some video’s I discuss the very short term price movement, in others I look at longer-term trends and some videos I do deep dives on varying topics. The audience that views my videos is broad and I try to put something in there for everyone so please as you watch the video’s please take this into consideration. Many people take all of my videos and try to make it fit their type of trading when in reality this is going to cause them problems. Understanding what information you are taking in is as important as the actual information itself because if your watching a video with a longer-term perspective and view it as short term information that could mean trouble. So please keep this in mind.
There are many topics we cover, fundamental information, technical (charting) information as well as news, market sentiment and healthy trading strategies, please join me and make sure the “like”, comment and share each video, YouTube really likes that!
Does Real-Crypto daytrade?
No, the only time I day trade is when my position goes against me quickly or if I get in at the end of a parabolic move. I prefer to trade for large swings. Ethereum went from $10 to $400, thats what I want.
Who is Real-Crypto?
Real Crypto is actually Randy Pratt, a veteran of the stock market since 1998 he (I) has seen markets in up and down times. Hopefully in the near future Real-Crypto will be a community of traders who feed quality ideas, people who take trading seriously and want to learn this craft. Trading is a skilled art and while anyone can do it, only people that put in the effort get rewarded.
Randy has done that.
Stocks vs Cryptocurrencies
TA in crypto’s is a little different, but like they say the more things change the more they stay the same. The chartpatterns are very wide, sometimes very deep and lose and because of this the traditional patterns speak volumes when you see them. Tight action is very healthy in crypto’s so is orderly and if you see these odds are its a good coin. Chartpatterns form frequently and you will see a ton of them, however breakouts are faded often in smaller coins. The breakout area is chopped around as well more often, in stocks the stock usually breaks down or up at that point, in crypto’s it can be chopped around before a move up. Keep this in mind.
Dips in Crypto’s at this stage should be bought nearly always, this market has an extreme upward bias and as long as you have a quality coin and some patience you can be rewarded.
What is different in crypto’s vs stocks?
Cryptocurrencies are much more volatile, they trade 24/7 vs. 6.5 hours per day like the stock market and they are not regulated. In stocks, you have a very mature market to contend with where you trade against the best in the world. In Cryptocurrencies you are mostly trading against amateur traders, the market reflects this in the massive swings you see, if you are not familiar with high beta stocks the moves in cryptocurrencies/altcoins will shock you.
With stocks, you have to contend with earnings, gaps, analysts and so on, with cryptocurrencies it is like the wild west in the fact that there is no one to really guide the market other than Reddit and YouTube. In the stock market you have a seemingly infinite number of investment choices, in crypto, however, there are only a few dozen really high-quality names that trade on good exchanges so you are continuously reviewing the same coins over and over again. Remember Microsoft was untradable for 12 years!
Can I learn to trade cryptocurrencies?
Anyone can learn to trade cryptocurrencies, and profitably, if they are disciplined and pay attention. Like anything in life you can rush into situations and get hurt, crypto’s are no different, trading is a world where patience pays off.