Book Image

Zero to Hero in Cryptocurrency Trading

By : Bogdan Vaida
Book Image

Zero to Hero in Cryptocurrency Trading

By: Bogdan Vaida

Overview of this book

In today's fast-paced digital age, cryptocurrencies have emerged as a revolutionary financial asset class, capturing the attention of investors and traders worldwide. However, navigating the world of cryptocurrency trading can be overwhelming for beginners. Zero to Hero in Cryptocurrency Trading acts as a guiding light to navigate this complex realm. This comprehensive guide to cryptocurrency trading empowers you to go from a novice trader to a proficient investor by helping you implement your own trading strategy. As you progress, you’ll gain structured trading knowledge through hands-on examples and real-time scenarios, bolstered by trading psychology and money management techniques. You’ll be able to automate your manual trades with an algorithm that works even while you sleep. You’ll also benefit from interactive teaching methods, including screenshots, charts, and drawings to help decode market operations and craft your unique edge in the dynamic crypto world. As an added bonus, you’ll receive ready-to-use templates to identify useful indicators, test your strategy, and even maintain a trading journal. By the end of this book, you’ll be well-equipped to trade cryptocurrencies and automate manual trading to give you an edge in the markets.
Table of Contents (13 chapters)
9
Chapter 9: What’s Next?

Market patterns

Traders develop trading techniques by identifying patterns in the market. After rigorous backtesting, the trader watches for those patterns that indicate the potential for a specific price movement and enters a trade before the movement happens.

In the following sections, I’m going to present some of the basic patterns that most traders use, but before I do that, let me present you with...

The five pattern commandments:

  1. The story of the pattern is more important than the pattern.
  2. The story changes as the pattern develops.
  3. Every pattern instance has a random outcome.
  4. Seek confluence, not certainty.
  5. There’s always a pattern you haven’t noticed.

I. The story of the pattern is more important than the pattern

The price tells a story. When it rises, it’s because there are more buyers than there are sellers, and we say that the buyers are pushing the price up. And when it falls, the sellers are pushing the...