Common Errors and its Solution on trading

I need to write the key factors to remember to avoid error.

1. how to know if market will not create new higher high or lower low.

On this week experience I have traded Overbought already but then again despite it is on the overbought it created new one just like in this picture

Looking at the stochastic it just create another higher overbought price. To detect this kind of error it is important to use the support and resistance on different time frame. thats why when it is showing on stochastic that it is time to sell make sure to look on the previous price and identify the resistance. to better identify ALWAYS make a practice to change time frame and look at the support and resistance. if we change this on 4hrs time frame we could see it has a resistance that the market need to test. We could see the S Pattern.

this is the reason that trading on right trend is important not against the trend. unless you are skill full swing trader. or you have a very good reason to trade on opposite direction like double tap or patterns.

anyway this is the result on last week trade

Lesson you learn from forex trading can be used also in cyrpto currency trading

        using the same tools and strategy on Forex trading we can have a figurative value on how much we could earn on cryptocurrency, particularly zcash. Before we do the Math about the potential of this coin. Im gonna make a strong point on the movement of the market.  In Forex there are many factors that a certain price of a currency will change. one example is the economy of the country which is measured by GDP.  the amount of Jobless people will affect also movement of currency. If im not mistaken currency have 5 major market movers. meaning everytime this time will come out there will be really big changes of price. this is the reason many earn from this sudden and big movement. NOw lets talk about zcash as i have been reading more about this coin and watching closely for a week now its price movement, I am amazed on how fast and how big the price change. just like eur, gbp, jpy or usd prices changes fast. the only difference is zcash can move not by any fundamental or market movers result. It lies sole on the supply and Demand.  take a look on this chart above  it amazes me how quickly it can grow in just 6 hrs. As a day trader like me this is one of our favorite that we could trade with in a day and earn big.

so let me walk you to the potentials of this kind of movement

1 zec at around 7 pm the price was

0.082 BTC / zec after 6hrs the price is now
0.091 BTC/ zec

so given 1 btc = $730
Purchased 11 zec x 0.082 =  0.902 BTC  = $ 658

6hrs later i sold all those 11 zec

Sold at 11 zec  x 0.091 = 1.001 BTC  = $730

$730  money profited after 6hrs
- $658  money spent to purchase
$72 Dollars profit in 6hrs

the good news about this is you could mine it although its not promising if you dont have fast gpu computers but the fact that you could produce it with out spending much is something you want to look at. Mine gather small, trade it  and grow big.  simple concept.

Mine Zec (cryptocurrency) to trade

The concept is to avail as much coins as your pc can , while it is turned on for any reason at all and trade it for Bitcoin then withdraw it to local Bitcoin wallet to get cash in peso.

Be advice you dont earn big here unless you know or you have
1. Mining GPU (graphics card) rig
2. Know how to Hire Foreigners to work for you as a miner (im working on this)

To be honest based on my computer runing OS - Apple with i5 processor running cpu mining i only get 0.002 zec per day. So that means it will take you 8 Agonizing months to get 0.50 ZEC so to earn really fast in this wich im going to try it is to hire AMERIKANO to work for me. im still gonna test this as always before im going to open to public to know if it is profitable. however based on my computation it is giving positive result.

Lets go back to minning if you just want to try so that you could gather coins and if price is right then trade it. here is what you need

1. pool - be part of a pool so that you have better chance to mine cryptocurrency. for typical cpu stand alone if we compare it on a car it has only have 10horsepower but if you belong to pool you contribute your horsepower to the engine of a pool which one of the biggest pool is supernova.cc having 100 x more horsepower compare to your self.  bigger horspower faster you could mine
   
   https://zec.suprnova.cc/index.php?page=register
2.  Once you are registered on that pool go to My account then create a worker this will tell pool that you have an active miner who is going to work for the pool.  to create worker you may want to go click the help on supernova.cc this will give you instruction
3. after that, give your miner a tool to mine which you are to download a miner tool this is where you need to configure. if you only use cpu then download the cpu miner but if you have a gaming computer and have gpu then download the gpu. for me im just a cpu so here is what i download (refer to the help of supernova for details instruction)
   
   https://github.com/ocminer/nheqminer/releases
   
4. extract it to your desktop. rename the folder nheqminer so that we could easily access it on dos
   Go to run and hit cmd. (this will lead you to ms-dos)
   
   on the dos prompt type the following
   cd desktop then pres enter
   cd nheqminer then press enter
   nheqminer -u yourname.workername -p password
   
   yourname is the name you register then the workername is the name you create to work for you  follow this screenshot.

uling.boss is my name and my worker name and the password is employee1

From there miner will be running already.

So to get you mined coins you need an exchange so create account here

https://www.bittrex.com/ - this is where you trade your zec to btc

to get your profit in peso you need an account in coins.ph click link below

https://coins.ph/invite/wp6rqa

now for details on both of this wallet leave your comment below for me to guide you in details. 

My Check list

This are the combination of the strategy and tools that I learn for a year. Which I have combine them and use them in accordance of need and settings.  a little reminder if you have use even single tool or strategy aginst the trade the result is bad. So trend is your Friend alway trade on trend for your safety.

here is my check list

PART 1

1. delete all drawing tools 
2. Identify trend  use moving average 
3. Create a pukot 
4. Confirm trend  on 4hrs 
5.  Identify  major support and ressistance 
6. Confirm 1 day trend 
7. identify major support and resistance 
8. Confirm pukot using Pivot    
9. Identify direction using stochistics  
10. confirm direction of stochastic using 4hrs 
11. confirm direction of stochastic using 1Day
12. identify point of entry  using  

• Higher - higher high and low higher low - for uptrend 
• High - Lower high and Low - lower low - for downtrend   

SPECIFIC INSTRUCTION

after you have done all those 12 steps in part 1 its time to analyze the chart combine your chart using 1hr time frame , 5 min time frame, 1min time frame... Analyze the possible direction to go combine your chart 1hr time frame, 4hrs time frame and 1 Day time frame. 

In this part it is critical for you to see what is not obvious that is why this is the right time to pray. Pray not just to win but rather pray that you will see the unseen or misslook. (this step I use to fight the  fear and the greed that is inside me)   

Then proceed to Part 2

1. Identify entry need to ignore  - oposite trend - use moving average  and stochastic 
2. When we have point of entry Identify how many pips  to get using support resistance  
3. identify piont of turn or stop using previous pivot or support and resistance  
4. identify stop lost (be carefull with this )       
5. if no piont of entry to take or malayo pa  identify pattern 
6. Head shoulder  pattern
7. double tap   
8. Consolidation (if 4hrs expect long trending next up or down)
9. Over sold or over bought (boilenger and RSI) 
10. Check Fundamental and identify market movers 

• GDP 
• CPI
• JOBLESS CLAIMS
• NON FARM PAYROL (check previous data )
• FOMC
• 3 red star NEWS

If you dont have major trade switch to scalping

• Candle Stick Engulfing pattern (trade on first 3 candles only 1hr)
• Overbought or Oversold (stochastic)(be watchful on fake direction dont panic)     

You may use this checklist improve it in accordance to your personality.

(video about this checklist will be uploaded soon)