Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

notouch

Altruistic traders - why?

Recommended Posts

Anyone who trades the markets is likely well served by understanding their microstructure. While the book can be tedious and not totally transparent at times, I think we can all be served by having a look at Trading Exchanges by Larry Harris. It provides an interesting taxonomy of trading types. It is a large book and expensive ( somewhere aroung $US60), so this type of book purchase is not to be taken lightly and only for serious traders who want this type of in-depth understanding of market microstructure. You don't need it to make money! I can assure you of that. What is does is put the various players in the market into some kind of interesting perspective.

 

Hope this helps a bit!

 

Janice

 

I'll concur, I paid full retail ($100) for that book and it was worth every cent. Not an easy read, but well worth the time...

Share this post


Link to post
Share on other sites
Indeed, it does help - thanks for sharing, Janice.

 

In fact, here's an early draft of Prof Harris' tome for everyone reading pleasure.

 

http://www-rcf.usc.edu/%7Elharris/Trading/Book/Book-extract.pdf

 

Enjoy!

 

P.S. More info about Prof Harris can be found here:

 

Professor Larry Harris's USC Home Page

 

Cooter, you rock man ¡¡ thanks for this link..¡ cheers Walter.

Share this post


Link to post
Share on other sites

Well it seems that in the actual fact a trader cannot really help another trader, on a deep level. Trading just like life in general isn't so much about knowing what to do, but about being able to do what needs to be done. It isn't a secret what needs to be done.

Share this post


Link to post
Share on other sites

I have to agree with Tin and Soul.

 

Not only is teaching one of the best ways to learn in and of itself as it forces you to distill the knowledge into a more succinct and efficient format- By exchanging information, answering questions, etc you are constantly refining yourself and forcing yourself from becoming stagnant or close-minded.

 

Secondly, and perhaps even more importantly, is the fact that it is ethical to help, as Tin said. Whether helping someone change a tire or helping them develop an idea on a forum, helping a fellow human being is always the high road. I couldn't have gotten to the level I am (and I have plenty of road ahead-don't get me wrong) without some outstanding people who took time out of their day(s) to help me out. Some of those individuals are on the forums and some are not- but the fact is, I am going to continue to pay it forward as much as possible.

 

Speaking of which, earlier Walter asked me to expand on my method a little and I shied away from it. Not because I have any issue with sharing, but because I also feel as if I have a responsibility to make sure that I am not shooting off at the mouth about things that may cause harm to others. I once was told there are few things in life more dangerous than an idiot who thinks he knows what he is doing....I don't want to be that idiot. ha ha

 

I am actually thinking about starting up some threads for longer term traders to exchange ideas.

Share this post


Link to post
Share on other sites

For the record, I'm not attacking anybody here. I've found it very helpful to share basic information about trading, such as how to use common indicators, or the pros and cons of breakout trading, or how to understand Volume Spread Analysis. However, when I come up with something special that required a vast amount of trading time to develop, I do not share it.

 

As an example of what happens when you do share something special, a well-known trader named Larry Pesavento, who spent years working on the Gartley and Butterfly trades, decided to publish his results to the wider world. No sooner had he published them than a group of savvy programmers figured out the code and put the code on the Tradestation World website, thereby compounding LP's mistake. If you look at the percent success of these trades before and after they became common knowledge, you will see than they worked amazingly well prior to publication, and now they work so poorly that you might as well flip a coin to decide if price will follow the prediction made by the patterns.

Share this post


Link to post
Share on other sites

Tasuki-

 

I definitely see your point. I can understand the reluctance of one to divulge their "Trade Secrets" (no pun intended) that were hard won.....however the beauty of trading is that you cannot teach someone experience.

 

Think of a parent raising a child....they can tell the kid all day long not to smoke cigarettes or drink or whatever- but really what is going to happen is that the kid is ultimately going to have to find their own way. They can listen to the parent if they are smart and hedge the school of hard knocks some, but ultimately, until the kid finds out for themselves through experience-what the parents told the kid is merely words and guidance....

 

Just like sharing trading info- you really have to end up finding out for yourself to get an understanding.

Share this post


Link to post
Share on other sites

There in my experience is only one way to ensure FX trading success. My results prove that the method that I use to trade is a winning method. If the method that I use is published the results for other FX traders would not match mine. The reason is that human psychology is the most important factor in being a winning trader.

Share this post


Link to post
Share on other sites

I could post here a half dozen ways that anyone could improve their FX trading and I just might do that. I have had experiences in the past posting on FX forums that those with the desire to fail and 95% do just ignore the information and try to convince you that you are wrong. I wonder if this FX forum might be different ?

 

One quick point is without understanding the fundamentals it is almost impossible to be a consistent winner in FX trading.

Share this post


Link to post
Share on other sites

I had a friend who recently died of cancer. He once published these trading rules that he followed. I use most of his rules that always work if applied properly. For the benefit of those that really want to improve and in his beloved memory here are his rules published in a futures magazine.

 

FINALLY...

I’d like to share with you “My personal parameters for

successful commodity trading,†provided by FS, a

TIF subscriber. I think these are great and they mirror many of

my personal trading rules. Serious traders, consider this a

“keeper.†Here it is in Fred’s words:

 

 

With regard to ‘my’ rules, most of them have been around

a lot longer than me and although well-known on the logic

level, are sometimes difficult to implement/execute.

Personally, I think the most important rule is the first one

since all the others are essentially predicated on it. Keep up

the good work with TIF!

 

1. NEVER trade with funds you cannot afford to lose â€â€

the stress will negatively impact your judgment.

 

2. NEVER put on a trade without a SIMULTANEOUS

stop loss. Period. This is seminal.

 

3. NEVER change a stop loss except to move it up/down

as a position moves in your favor. Otherwise just let the stop

loss take you out of the position within predetermined

parameters.

 

4.When in doubt  for whatever reason (instinct?)

– GET OUT.

 

5. Avoid overtrading.

 

6. When trading profitably, get AGGRESSIVE. (We all

have “streaksâ€Â!)

 

7. Never use more than 50% of your equity at one time

and, depending on the size of your account, make certain

that no SINGLE trade uses more than X% of your equity. (I

use 4%.)

 

8. Never add to a losing position. PERIOD.

 

9. Forget your EGO because the market is ALWAYS

right  PERIOD.

 

10. Have patience in winning trades and give them time

to “unfold.â€Â

 

11. Determine in advance what your TIME parameters

are for a trade, as this will impact both strategy as well as

predetermined RISK parameters.

 

12. Money management is at least as important as trade

selection and can be MORE important.

 

13. Trade multiple markets but not more than SEVEN

at a time.

 

 

P.S. These are my friends rules which I had been following before I met him a few years ago. These were rules that were published in TIF magazine. I endorse these RULES 100% He was a commodity trader.:)

Share this post


Link to post
Share on other sites
I could post here a half dozen ways that anyone could improve their FX trading and I just might do that. I have had experiences in the past posting on FX forums that those with the desire to fail and 95% do just ignore the information and try to convince you that you are wrong. I wonder if this FX forum might be different ?

 

One quick point is without understanding the fundamentals it is almost impossible to be a consistent winner in FX trading.

 

This definitely not like any of the other forums. That kind of BS isn't tolerated. So definitely feel free to say what you want to say and don't worry about a bunch of immature argument.

Share this post


Link to post
Share on other sites

Thank you. I will give it a try. My only purpose in posting this information is to help FX traders improve their results. I enjoy teaching and learning at the same time.

 

Having a good understanding and skills in the TA side of Forex trading is important. I use one minute, five minute charts as I get in and out of positions quickly. I use the basics such as Bollinger bands, SAR (Excellent Indicator), MACD, RSI and EMA.

 

I am however definitely a fundamental trader. I really understand the world economy. If you really are serious about being a winner you need to understand the nature of the market. The relationship of oil prices, gold prices, interest rates, bond yields etc...

 

You can get much of the real facts for free by just taking the time to read, learn and understand.

 

Here are some of the best sites to go to.

 

(1) http://www.financialsense.com

(2) http://www.321gold.com

(3) http://www.jsmineset.com

 

Try to go to these 3 sites once a day and spend one hour reading whatever interests you. I would be glad to answer any questions that come up !

 

What is the difference between price inflation and asset inflation ? What causes inflation ?

 

This is BASIC but if you do not understand it then when you hear Bernake say he is a inflation fighter you will actually believe him. the FED causes inflation by running the printing presses.

 

That is some of what I have to share. I could share principles of Risk Management and Money Management. That is it to start.

 

Good Trading:)

Share this post


Link to post
Share on other sites

Let us discuss Money Management !

 

Save up $10,000 US Dollars after you have Demo traded for about one year with a $50,000 US Dollars Demo account.

 

Now you are maybe ready to trade for real with real funds.

 

With the $10,000 US Dollars on deposit do not trade more than 20% of the funds. Therefore you can buy 2 positions of USD/JPY using $2000 US Dollars of your capital. Say you sold USD/JPY at 1.1900 just after the NFP number of 92,000 New Jobs on Friday that was announced.

 

You had put your Stop Loss at 1.1920...Your MAXIMUM loss would have been 20 PIPS times 2 Positions or $400 US Dollars as your loss. That adds up to 4%of your starting capital. You might have bought one Position at 1.1900 and a second one at 1.1880 to average in your costs.

 

If you had lowered your stops during the day as the Dow continued to head lower after 2:00 PM EST than you would have a nice profit for little risk using this method that I use.

 

I was out of ALL Positions except for 2 USD/JPY that I entered at 1.1922 prior to the 8:30 AM EST release of the NFP numbers. I was also waiting for the ISM number at 10:00 AM

 

I would be glad to answer any questions that you may have.

 

Regards

Share this post


Link to post
Share on other sites

Hello All,

 

I am here listening to this. It is a totally individual decision re: helping others to trade. I love helping others with the psychological aspects of their trading and seeing them improve on a steady basis. However, I limit myself to trading one market and do not coach traders in that market. I coach a lot of people, but no gold traders. This is my way of staying out of my way and not putting myself in a position to second guess what I am doing. Could I make more money trading several markets? Most likely I could, but it is my choice at this time to trade less, write more and help as many people as I can to take themselves to trading excellent. It has taken me 14 years of trading to get to this point, but I came to trading from a profession which was very good to me financially and I did everything possible to save and invest for passive income. This behavior comes from my personal history which many of you already know, and if you wonder and don't know, please ask and I will tell you?

 

We are talking about individual preferences here. No one is right and no one is wrong. It is totally up to each individual to make his or her own choice about how to help or not help another trader, how much to help or not help another trader, etc.

 

In order for free flow of discussion on this thread, we are in a situation of unconditional positive regard for each other. This is always principles before personalities. That means that everyone is free to speak his or her mind and share the many thoughts and feelings you have. We are here to share experience, strength and hope with each other. In this world where there is so much anger, hostility, hatred, retribution and pain inflicted upon us by others, it is a refuge to find a space place where we know we can speak openly and without fear of retribution. In the process, we remember that, depspite differences in opinions, we respect each other and send kindness as the greatest gift we give to each other. It is up to each of you to take things personally or not take them personally. I say let's band together to make this thread a safe place for everyone and refrain from any personal attacks. We are all in the same boat. We are all learning something every day, and learning is best with free exchange of ideas, data, information and knowledge. I hold every one of you in unconditional positive regard and I love interacting with you.

 

That said, I am starting a new thread today on the Market Mistress.

 

Thanks for being there and listening to me today!

 

Doctor Janice

Share this post


Link to post
Share on other sites
I could post here a half dozen ways that anyone could improve their FX trading and I just might do that. I have had experiences in the past posting on FX forums that those with the desire to fail and 95% do just ignore the information and try to convince you that you are wrong. I wonder if this FX forum might be different ?

 

One quick point is without understanding the fundamentals it is almost impossible to be a consistent winner in FX trading.

 

 

A basic tenet of Technical Analisis is that it discounts Fundamental analisis... NOw If you have enogh level of preparation on fundamental analisis I believe you may have some edge on a only technical analist... the problem is learning fundamentals... there is no so much information on the non-formal study resources.... I would really apreciatte Warren if you start a thread on fundamentals, it would be very nce to know something about this, would really aprecciate... cheers Walter.

Share this post


Link to post
Share on other sites
Hello All,

 

I am here listening to this. It is a totally individual decision re: helping others to trade. I love helping others with the psychological aspects of their trading and seeing them improve on a steady basis. However, I limit myself to trading one market and do not coach traders in that market. I coach a lot of people, but no gold traders. This is my way of staying out of my way and not putting myself in a position to second guess what I am doing. Could I make more money trading several markets? Most likely I could, but it is my choice at this time to trade less, write more and help as many people as I can to take themselves to trading excellent. It has taken me 14 years of trading to get to this point, but I came to trading from a profession which was very good to me financially and I did everything possible to save and invest for passive income. This behavior comes from my personal history which many of you already know, and if you wonder and don't know, please ask and I will tell you?

 

We are talking about individual preferences here. No one is right and no one is wrong. It is totally up to each individual to make his or her own choice about how to help or not help another trader, how much to help or not help another trader, etc.

 

In order for free flow of discussion on this thread, we are in a situation of unconditional positive regard for each other. This is always principles before personalities. That means that everyone is free to speak his or her mind and share the many thoughts and feelings you have. We are here to share experience, strength and hope with each other. In this world where there is so much anger, hostility, hatred, retribution and pain inflicted upon us by others, it is a refuge to find a space place where we know we can speak openly and without fear of retribution. In the process, we remember that, depspite differences in opinions, we respect each other and send kindness as the greatest gift we give to each other. It is up to each of you to take things personally or not take them personally. I say let's band together to make this thread a safe place for everyone and refrain from any personal attacks. We are all in the same boat. We are all learning something every day, and learning is best with free exchange of ideas, data, information and knowledge. I hold every one of you in unconditional positive regard and I love interacting with you.

 

That said, I am starting a new thread today on the Market Mistress.

 

Thanks for being there and listening to me today!

 

Doctor Janice

 

 

Nice to hear from you Janice ¡¡ cheers Walter.

Share this post


Link to post
Share on other sites
I guess I am a terrible cynic but I think the reason anyone does anything is essentially selfish. There is nothing wrong with being selfish imo. Put another way people do things for others because it makes them feel good. Or as has been said they hope to learn something through the exchange (self interest). Or they just want to 'show off' (look at me aren't I clever). I think even when we do things for our children or loved ones it is because when they feel good we feel good (so a selfish action even if for another). Even when we do things out of a sense of responsibility or guilt it is to assuage feelings within ourselves.

 

btw Isn't a speculator simply someone that assumes risk for a potential reward. Not quite sure how that fits in (yet).

 

Personally I always wanted to be hugely succesful at trading (10's or even 100's of millions). Apart from satisfying my Ego I'd really like to make a big difference in the world (money affords that opportunity). The reason? to make me feel good. (Who wouldn't feel good about improving society?) Personally I see no conflict between altruism and selfishness.

 

 

 

True, most likely. In any case, we need more of those "egoistic altruists" rather than "egoistic egoists" in our world. It is beautiful when people derive satisfaction form helping rather than hindering. Along these lines - who like stoics draw satisfaction from behaving like their noble code they embraced dictates them, with no regard of the outcome (of the trade, one might say)

Share this post


Link to post
Share on other sites
A basic tenet of Technical Analisis is that it discounts Fundamental analisis... NOw If you have enogh level of preparation on fundamental analisis I believe you may have some edge on a only technical analist... the problem is learning fundamentals... there is no so much information on the non-formal study resources.... I would really apreciatte Warren if you start a thread on fundamentals, it would be very nce to know something about this, would really aprecciate... cheers Walter.

 

Dear Walter W or anyone else reading my reply. If there is enough interest I will start and continue to post in such a FUNDAMENTAL THREAD.

 

Please let me know.

 

:cool:

Share this post


Link to post
Share on other sites
Dear Walter W or anyone else reading my reply. If there is enough interest I will start and continue to post in such a FUNDAMENTAL THREAD.

 

Please let me know.

 

:cool:

 

Hi Warren - would it be a thread on FX fundamentals?

Edited by mister ed
spelling

Share this post


Link to post
Share on other sites
It Would be on the Fundamental Knowledge of the FX markets needed to be a winning FX trader. Trading by TA alone just does not work.

 

Thanks Warren - My bias is technicals but I think a lot of value can be added to FX trading by even just a basic knowledge of the fundamentals ... so, yes, good idea!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Great News: - starting from today minimum deposit is ONLY 10$ (use ENTER10 code) - Deposit using Cryptocurrencies or Fiat Money (12 Cryptocurrencies + Credit / Debit Cards, Bank Transfer & Many eWallets options) 50$ No Deposit Bonus STILL Available & Daily 250$ Free Entry Trading Tournament USA Customers Welcome https://binaryoptionsprofits.eu/review/pocket-option/ Make up to 128% Profit / Trade Every 60 Seconds!
    • $SPY (SPY) S&P 500 ETF top of range breakout watch above 294.92,analysis https://stockconsultant.com/?SPY
    • Date : 24th April 2019. MACRO EVENTS & NEWS OF 24th April 2019.FX News Today Australia’s bond as well as stock markets rallied after inflation came in lowerthan anticipated at 0.0% q/q, down from 0.5% in the previous period and versus median expectations of 0.1%. Markets are convinced that the inflation miss will make a rate cut all but inevitable and 10-year yields plunged 10.5 bp, while the ASX jumped as much as 1.1% to a more than 11 year high, after already outperforming yesterday. Elsewhere in Asia markets were under pressure, however, despite the strong close on Wall Street, where sentiment was boosted by upbeat earnings reports. The USA500 and USA100 closed at record highs Tuesday Twitter stock surged more than 15% on earnings beat, while the Coca-Cola share price is up 2% as Q1 earnings revenue was $8.02 billion, topping projections of $7.88 billion. The concerns that China may slow the pace of policy easing and stimulus measures continue to weigh on sentiment. WTI oil softer today after surge to 6-mth high at $66.60 yesterday. Charts of the DayTechnician’s Corner USOIL softer at 66.00 hurdle after topping at a new nearly six-month high of $66.60. Overall, outlook holds to the upside as the asset is sloping within an uptrend, with small corrections to the downside. USDJPY has continued to oscillate in a narrow range in the 111.75-112.00 area. The focus this week will be on fresh signs that corroborate the return-to-growth picture in major global economies. A continuation of this theme would be supportive of currencies that performer with higher beta characteristics, such as the Dollar bloc units, while currencies of the low-yielding safe haven type, such as the Yen, would be apt to underperform. USDJPY has Support at 111.54-111.60, levels which encompass the prevailing position of the 200-day moving average. AUDUSD dove to 0.7026, just a breath above 3-year Support. It was driven by Aussie-specific losses following sub forecast CPI data out of Australia, which catalysed calls for the RBA to cut interest rates at its next policy review in May. A break of 0.7000 could open the way towards a December slip. Main Macro Events Today IFO (EUR, GMT 08:00) – Business climate in the largest EU country is expected to have grown marginally to 99.9 compared to 99.6 last month. Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. A sharper and more broadly based slowdown in the domestic economy, alongside a slowing in the global economy that has been more pronounced and widespread than anticipated saw the Bank state “the outlook continues to warrant a policy interest rate that is below its neutral range.” Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 24th April 2019. MACRO EVENTS & NEWS OF 24th April 2019.FX News Today Australia’s bond as well as stock markets rallied after inflation came in lowerthan anticipated at 0.0% q/q, down from 0.5% in the previous period and versus median expectations of 0.1%. Markets are convinced that the inflation miss will make a rate cut all but inevitable and 10-year yields plunged 10.5 bp, while the ASX jumped as much as 1.1% to a more than 11 year high, after already outperforming yesterday. Elsewhere in Asia markets were under pressure, however, despite the strong close on Wall Street, where sentiment was boosted by upbeat earnings reports. The USA500 and USA100 closed at record highs Tuesday Twitter stock surged more than 15% on earnings beat, while the Coca-Cola share price is up 2% as Q1 earnings revenue was $8.02 billion, topping projections of $7.88 billion. The concerns that China may slow the pace of policy easing and stimulus measures continue to weigh on sentiment. WTI oil softer today after surge to 6-mth high at $66.60 yesterday. Charts of the DayTechnician’s Corner USOIL softer at 66.00 hurdle after topping at a new nearly six-month high of $66.60. Overall, outlook holds to the upside as the asset is sloping within an uptrend, with small corrections to the downside. USDJPY has continued to oscillate in a narrow range in the 111.75-112.00 area. The focus this week will be on fresh signs that corroborate the return-to-growth picture in major global economies. A continuation of this theme would be supportive of currencies that performer with higher beta characteristics, such as the Dollar bloc units, while currencies of the low-yielding safe haven type, such as the Yen, would be apt to underperform. USDJPY has Support at 111.54-111.60, levels which encompass the prevailing position of the 200-day moving average. AUDUSD dove to 0.7026, just a breath above 3-year Support. It was driven by Aussie-specific losses following sub forecast CPI data out of Australia, which catalysed calls for the RBA to cut interest rates at its next policy review in May. A break of 0.7000 could open the way towards a December slip. Main Macro Events Today IFO (EUR, GMT 08:00) – Business climate in the largest EU country is expected to have grown marginally to 99.9 compared to 99.6 last month. Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. A sharper and more broadly based slowdown in the domestic economy, alongside a slowing in the global economy that has been more pronounced and widespread than anticipated saw the Bank state “the outlook continues to warrant a policy interest rate that is below its neutral range.” Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • DASH trading: The Bears Head Towards a Critical Support, a Break or Reversal?   DASH Price Analysis – April 23 After April short position, DASH market had been following a bearish sentiment. Crossing down the 200-day MA, DASH/BTC nears a key support level of 0.022 BTC. Despite the fall, the 200-day MA still acts as a defensive line for DASH/USD pair. However, both markets respect a falling channel.   DASH/USD Market Key Levels: Resistance levels: $135, $145 Support levels: $115, $100   The price of DASH had been falling for the past weeks due to the selling pressure in the market. As a result of this, the market has been down by roughly 18% as price currently trades at $123 level. The volatility of the cryptocurrency appeared low with choppy price action.   Following the medium-term bearish correction, DASH is still respecting the bulls’ defensive line; the 200-day moving average line (yellow). Meanwhile, the $125 price level has been holding the bulls for the past twelve days. A successful breach might take price to $130.   As shown on the RSI, the trend is positioned at 56.8 level. The next major resistance is at $135 level which is outside the channel. A bearish move could slump price to $115support.   DASH/BTC Market While staying above the important 200-day moving average line (yellow) in late March, DASH price rose to the peak of 0.029 BTC high before plunging in a channel. Testing the yellow line on April 12, a significant break has further led the bears far below the yellow line.   Currently, the cryptocurrency head towards the March support at 0.022 BTC level. At the test of the mentioned support, a possible bounce up may occur for a bullish reversal. If a bounce up fails, a break down could further the trend in a more bearish condition.   The medium-term RSI is now trending below the 50 level after the price drop on April 1. A successful break up could kick-start a bull-run at 0.024 BTC resistance level, testing the important yellow line.     Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.     How to trade Bitcoin successfully:  https://insidebitcoins.com/trading/bitcoin       Best cryptos exchanges:  https://insidebitcoins.com/cryptocurrency-exchanges  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.