WHAT TO LOOK FOR WHEN ANALYZING A CHART: THE RANGE

Analyzing a chart dosent require looking at the fancy components that constitutes the chart especially if you are a newbie.

What you are to look as a basic crypto currency trader is simply the RANGE within a particular period of time.


Its a statistical tool used in finding the difference between the the highest value and the lowest value.

But in cryptos we may not necessarily need the difference . What we need is the lowest value and the highest value within a particular period of time.  Let me give  an example


Lets say within 12 hrs the price of etc was hovering between 380k sats and 450k sats.. This is the price within 12hrs right.  Now lets say you enter the market at the 15th hour and you met the price to be at say 395k sats.

As an experienced trader what you are to do first is to look at past event from the chart.

When you look at d chart then you will notice that the price attained some certain height  based on that information you can enter the market.  Because there is every likelihood that the price might still rise to that 450k sats or more again within the remaining 24hrs.

The 4 days chart above shows the price volatility of ETC with 4 days. When analyzing this chart simply locate the higest point which is about 610,000 sats and the lowest point which is about 350,000 sats.

With this information, you can make an informed decision on whether to buy into this coin or not.

SECURE YOUR TRADING ACCOUNTS BUT SECURE YOUR EMAIL THE MORE

Attacks and exploits have become very rampart these days as you hear of theft of coins and the likes. For this reason many exchanges have put in place strict security measures to prevent hackers.

Hackers on the other hand as seen hacking as a job and a very lucrative one at that. they are not only attacking exchanges alone but also email addresses associated with such exchanges.

So in order to protect your funds from been stolen always add an exra layer of protection like the 2 factor authentication and change your passwords as often as you can

ETHEREUM CLASSIC ADDED TO POLONIEX EXCHANGE

Ethereum classic has been added to both the bitcoin market and Ethereum market

MORE ALTCOINS ADDED TO COINOMI MOBILE WALLET

The following coins have been added to the coinomi wallet.

Ethereum ,syscoin,  solarcoin and a few others.

The wallet is a multi currency wallet and holds more than 20 alternative currrncies.

Check their website or playstore to download the updated version.


https://coinomi.com

A 30 DAYS DISCIPLINED CRYPTO CURRENCY TRADING PLAN

Crypto currency trading can be a very profitable and lucrative venture. However in order to maximize profit, there is a need for discipline trading plan.

I would like to present to you a strict but very effective trading plan if adhered to can fetch you a profit ranging from 5% to 60% monthly all things been equal.

What you need to start

1. At least 1 bitcoin (recommended)

2. A reputable trading exchange with advanced trading features.

3. Identify a healthy and very volatile coin for the day.

4. A reliable internet subscription.

5. Patience, discipline and constant monitoring.

Target: To make between 1% to 5% or more profit on a daily bases.

The required steps to achieve maximum profit.

Lets assume a very bullish coin as been identified at say 12,000 satoshis.

1. Set a 1% or less buy stop limit. If filled, it means your entry point will be 12,120 satoshis.

2. Immediately go ahead and set a 2% sell stop limit. Reason been that if the price falls above 2%, you only take that loss and have an opportunity to buy back cheaper.  E.g let say it falls by 5% and you buy back at that point you have gained 3% more in the coins.

3. Monitor the market until you have gotten a clear cut 1% to 5% profit. Then exit the market and close for the day.

4. Repeat the process for the next 29 days. On the 30^th day, take stock of your profit to ascertain how much profit you really made at the end of the month.

Conclusion

Assuming an average profit of 3% was made on a daily bases for 30days that will be a whooping 90% return on investment.

AN OPPORTUNITY THAT PRESENTS ITSELF IF ETHEREUM HARD FORKS TO RECOVER THE DAO FUND

During the ico of the dao 1 ether gives you about 100dao. Now the value of the dao has fallen because of the supposed hack or exploit.  This has necesitated the hard fork whose aim is to return investors fund at the rate at which the Bought it.

The opportunity now is to buy as much dao as you can buy and when the hard fork is implemented you will be getting more ethers.

TEST YOUR THEORETICAL TRADING SKILLS WITH THIS QUIZ

If i bought 100 ethers at at 1.8million satoshis, with the hope of making a profit. But i decided to take a 5% loss using the sell stop limit.  3 hrs later,  i checked the market and discovered my stop limit has been filled and the price of ether is now 0.014 btc. I know decide to set a 10% buy stop limt.

I check few hours later and the price of ether is at 0.0175.

Q1. How many bitcoin did i start with initially?

Q2. How many bitcoins did i have after the sell stop limit had been filled?

Q3 At what price did i enter the market again?

Q4 How many ethers did i have after opening the new position?

Q5 If i decide to sell at the current price.  How many bitcoin will i now have?

I am expecting your answers

CHECKLIST: THE LAZY MAN WAY OF INVESTING IN CRYPTO CURRENCY

1. Resgister in a reputable exchange.(poloniex, kraken, huobi, bitstam, bittrex etc)
2. Send your bitcoins to the exchange after purchase.
3. Look for healthy coins to buy and hold.
4. Study the 1 to 2 months chart of the coin and look for a trend that looks like the one below

5.    When you identify such chart , buy and come back a week or a month later to see if the price has increase. then sell.

6.  repeat again and again for profit.

Thanks

THE PRICE OF BITCOIN NOW

Below is the price of bitcoin as at the time of this post

THE ETHEREUM PRICE PLUMMETING IS A FUNCTION OF THE DAO FIASCO

Few days back, there was a report of a hack in the DAO.  The DAO is a smart contract running on top of the ethereum network.  It was discoverd that over 3 million ether was stolen by a hacker.

Reports revealed that the stolen ethers are held temporarily in a child DAO which will be released to the hacker with 27days.

The news of this hack spread like wide fire and caused the price of both the DAO and ether to plummet by more than 50%.

A soft and hard fork is proposed for a possible solution to the problem.  Many,  have varying opinion about the proposed solution as it will negate the intention of the DAO in the first place as regards the non reversal of any transaction and subsequently ruin the reputation of ethereum as a veritable platform to run any smart contracts.

BITCOIN STILL STRONG AND HOVERING BETWEEN $720 TO $780

Bitcoin has proven to be a currency of choice within the internet community.  Due to the upcoming halving of reward a sudden spike as been noticed in the past months from about $420 to about $750.

The spike may continue even after the halving.

PRICE OF BITCOIN IN NAIRA

As at the time of post below are the various prices of bitcoin in nigeria by different exchangers namely nairaex, bitx and bitpesa

ETHEREUM ALMOST HITTING $20

It appears the upward trend of bitcoin seems to have no effect on ethereum has the digital asset is bullish aswell.

In the past,  a rise in bitcoin would mean a fall in ethereum.  But this is a different scenerio now.

Ethereum is thought by many has bitcoin biggest competitor and may like be at par with it sometime in the future.

Whether this is true or not,  only time will tell.

BITCOIN STILL ON THE RISE AT $680 PLUS

A $700 price is very possible today going by the bullish run bitcoin is exhibiting.

Altcoins seems to be loosing value but surprisingly ethereum seems to maintain statusquo.

The rise of bitcoin seems not to affect ethereum that much. It is considered a very stiff opposition to bitcoin.

BITCOIN IS ABOVE $600 AT MAJOR EXCHANGES

The rise and rise of bitcoin is becoming phenomenal even as the much anticipated reward halving is just by the corner.


Is this the push need inorder to experience an all time high?

Many analyst have predicted bitcoin to attain a $1000 plus price tag by the end of the year.

ETHEREUM BASED MARKET ADDED AT POLONIEX

It is worthy of note that ethereum has been given its own market at the poloniex exchange in my opinion is long overdue.

Dao and lisk will be trading against it at the moment with more coins hopefully to join in the future.

SIACOIN SERIOUSLY PUMING AT POLONIEX

It is quite interesting to note that siacoin is very bullish right now.  All that bought when it was sub 40sats will be smiling now.

That is the importance of investing in utility based coin.  You cant get it wrong. There is room to benefit both long term and short term

BITCOIN STILL IN A BULLISH MODE AT $570+

The fact that bitcoin price is on the high maynot be to far from the much anticipated  reward halving coming up by july.

This may be a signal as to what will happen post bitcoin halving.  We may yet be about to experience maybe an ATH.

It is very obvious bitcoin is growing significantly and may likely attain a price tag of S600 by the end of today or by the beginning of the new week.

There is so much suspence and excitment in the bitcoin world at this period.

As only time will tell what the price of bitcoin will become after the halving.

BITCOIN PRICE STILL ABOVE $500

Although the much anticipated halving of bitcoin reward is still more than a month ahead, the price of bitcoin as continued showing a bullish trend with some exchange experiencing a price of $550 few days ago.

The price however is trying to stabilise between the ranges of $500 to $540 at different exchanges.

Many have speculated $1,000 price tag by the end of the year.

We cross our arms and watch how events turn out.

BITCOIN PRICE HIT S500 AT HUOBI EXCHANGE

A chinese exchange huobi trading bitcoin has witness the price of bitcoin surpassing $500 and still kicking.

MANY COINS NOSE DIVING AND SERIOUSLY ON THE RED

What could be the cause of this nose dive?  Well it will not be to far from the fact that bitcoin is gaining value and many would want to cash in on that.  As soon as this frenzy ends you will notice a return to statusquo and a possible skyrocketting of some altcoins.

LISK ADDED AT POLONIEX

This another coin creating waves in the crypto sphere and it has been added at poloniex exchange.

COINS TO BE DELISTED FROM POLONIEX EXCHANGE

The following coins will be delisted from poloniex

On 6/3/2016, the following markets will be delisted: ARCH, EXE, GEMZ, INDEX, MIL, MRS, NOXT, XCH, XDP

So if you invested in any of this coins try and withdraw them before the deadline

COINS TOPPING THE CHART IN TERMS OF VOLUME AT POLONIEX

INVEST IN UTILITY BASED COINS

Coins that tend to have other value apart from it been traded at exchanges are considered utility assets. The developers of this type of asset render a particular type of service making use of the blockchain applicable to the real world problems. The service they render actually sole real life problems through the blockchain.


This type of digital asset is good to invest in because you are sure it will stay for a very long time and the value increase as it is adopted as solution to problems.

Some of this assets include Ethereum, maid, factom etc. Do some research on others an find out what they have to offer.

MY VIEW ON BITCOIN HALVING COMING UP SOON

The protocol governing bitcoin is design in such a way that the rate of supply of the coins is in deflationary way. It was designed that every 4 years the amount of bitcoins will be halved untill total amount of 21 million is reached.

As at now over 15 million is in circulation and the next halving is expected by july. This as brought in a lot of talks in the bitcoin community about the effect of this on the price of bitcoin.

Many are hoarding their bitcoin in the hopes that this halving will bring about scarcity thereby making the price to skyrocket. while some differ.  

I am of the opinion that the best approach is to aquire good altcoins at this point so that anyway the ball goes, it will favour you all the same.

DECRED COIN(DCR) ADDED AT POLONIEX

A coin called decred (DCR)has been added to poloniex exchange and and a 6 hour trade shows it ranking amongs the first 10 coins in terms of volume.

VOXELS COIN(VOX) ADDED AT POLONIEX EXCHANGE

A coin called voxels as been added to the exchange and is currently among the first 10 coins traded as the time of writing.

below are details of the coins from coinmarketcap and poloniex

BUY INTO ICOs FOR FUTURE RETURNS

ICO(initial coin offer) are digital asset made available to the public before it becomes available for exchange. This type of coins are offered at a cheap price and the moment it hits the exchange the value of this coins begin to rise.

That was how ethereum, syscoin coin started, now look at what there have become. I will like to bring to your notice 2 ICOs you should consider

DAO: https://daohub.org/ 

WAVES: http://ico.wavesplatform.com/

COINS CONSIDERED AS UNHEALTHY AS AT NOW