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?

Candlestick patterns

A chart is (usually) formed by Japanese candlesticks; each candlestick represents the price movement during the chosen time frame. On a 4-hour BTCUSD chart, each candlestick represents the price movement during a 4-hour period.

The way the price moves inside that candlestick (or that candlestick, and a few more) can generate a pattern that we can use in trading.

Warnings

First warning—Don’t trade by one candlestick pattern! Trade using a confluence of patterns and indicators so that your chances of success are increased.

Second warning—It’s extremely hard to test the patterns presented. Some, such as Thomas N. Bulkowski, have tried doing this for stocks, but still, even with the statistics at hand, the right moment to enter and exit is, again, debatable.

My recommendation—Look at the market’s emotion, at the story behind the price. And yes—I know I’m repeating myself, but I’m doing it...