Tag: 5 stages of the trade

  • Taking 180% Profit Was A Mistake

    Taking 180% Profit Was A Mistake


    Howdy fellas, I want to do a different style of video where I’m talking about some of the trades that have just happened in our system.

    I just closed a trade for 184% profit,
    and taking profits at that time was a mistake.

    In this video, I want to talk about that specific trade that we got the trading signal entry for AGIX back in February 3rd, and yesterday when the prices made a top formation,

    I took profit
    but I took profits too soon.

    So in this video, I’m going to talk about how my trade was actually against my trading system.

    First of all, I want to talk about the signal that got me into this trade because it’s really important for what I’ll explain at the end of this video.

    Then I’m going to talk about why I did the exit at this time and why that was a mistake, why I knew it was a mistake and I did it anyway.

    Then I’ll talk about what I should have done with the trade but according to our trading system.

    I think it was back in early February,

    ⟁ the agix versus Bitcoin price made a 123 formation that was a consolidation and it gave us a trading signal, and

    ➜ our system bought in with a copy trading account over on bitget.

    Now the trading system doesn’t give me an exit signal yet,

    but yesterday I closed that trade and I took profit at about 180%.

    Why I Took Profits Too Soon!

    And I took that profit for two reasons that are not related to my trading plan.

    First was my ego; I wanted to prove that I’m correct and take this profit so that I have the profit.

    I didn’t want to lose the profit, and that’s my second biggest trading mistake and I’ll explain more about that.

    I wanted impressive stats in my copy trading account over following my trading plan.

    The second reason I took that trading was so that I have that in my copy trading account so that the statistics are there of the 180% profit.

    Can’t go wrong when you start stacking those 180% profits in your statistics.

    That’s great stuff for the copy trading account, but it was actually against my trading plan rules.

    Start a Trading Journal

    So if you’ve ever written a trading plan for yourself and then you did something that was opposite to your trading plan,

    it’s really important to journal every step of that trade.

    A written trading journal takes you away from the charts to think.

    Get To Know Your Errors

    So that the next time you come around to that, you can make the decision whether or not you’re going to do that same error at that same time.


    Two Types of Errors

    This is really important because there are two types of errors that you make while you are a cryptocurrency Trader.

    First is the type of error that you get punished for; you lose money.

    So pretty soon you stop doing those kinds of errors or you have to quit trading.

    The second type of error, though, is those errors that you can make just like I had made right now that you will never know that you made an error until somebody points it out to you.

    Altcoin Season Secrets – The Wave and Pullback Strategy!

    And so I want to talk about stage four of the trade, and then I’m going to tell you where you can go and learn about this for free for the next seven days.

    Stage four of the trade is where the price moves up, and then it comes back and consolidates, and you add on so that you are bigger on your winning trades on these few trades that really do the big move and pull back.

    ➤ You want to add on to those, I’m thinking, because it seems to me that we’re at the very beginning of a very large three to five-wave stage.

    Elliot Waves

    So Elliot wave theorists are going to be super excited about what might be coming in altcoin season right now.

    And that’s because we’re coming out of an especially long Wyckoff Accumulation Pattern in the charts with the altcoins.

    And so I believe everything is building up for a wave and then a pullback and then wave again.

    Two Mistakes

    And so it was a mistake for me to take profit on my agix trade for two different reasons.

    ➥ First of all, I’m being fearful when I should be greedy, and

    ➥ Second of all, I’m doing an extra taxable event if I want to get back into that trade and make the profits as it continues the rest of the trade up.

    So it would have been better for me to sit still,

    but I took that profit so that

    • I have the money and
    • so that my statistics are in my copy trading account.

    What Is Next?

    And now I’ve taken that full wad of money, I took 17, we’ll say 17, and I turned it into 52.

    I took that full 52; I put it into another chart that’s making the very same pattern that AGIX was making a month ago.

    And now I don’t know, of course, if this new chart is going to do the same thing that AGIX just did but cross my fingers.

    Let’s see how this turns out.


    And so while I’m talking about the price chart pattern for one specific coin, it’s important to that all of the altcoins move together.

    And it’s better for us to, it’s less risk if we go across more coins in smaller trades and we stay into a spot position so that there’s no cost for holding the trade for a long time.

    Hidden Cost of Leveraged Trading

    Even if you’re doing low leverage, leverage trading Futures Trading, there’s always those ongoing costs as you hold the trade.

    Where as if you get into a spot position, you can relax more because that’s how many coins you have, and it’s easier to weather through some of the difficulties.

    And you’re also there for some of those coins that do the big moves that you would could never have known that they were going to go through.

    Exposing Trading Industry Secrets – Are You Being Manipulated?

    One of the most important perspectives is to know that the exchanges and most of the YouTube influencers, they make their money by your trading activity.

    For example, I was approached by one exchange to sponsor my videos, and then I contact another Exchange that had already sponsored me, and I said how much would you sponsor me?

    And they said it’s based on how much trading activity you generate.

    So the more I get everybody to churn their account, the more the exchanges pay me as a sponsor.

    Day trading crypto and leveraged crypto trading are encouraged only by exchanges.

    So then it encourages me to tell you that you should be day trading and that you should be trading and taking profits and then trading again and taking profits.

    Whereas I’m not sponsored by an exchange, I’m not motivated by how often you trade.

    I’m motivated by the fact that you sit on those trades for a long time and you make some phenomenal profits off of these things that change your life.

    This is the kind of story I want to hear, not how often you trade.

    Trade Smart – Step Away from the 15-Minute Charts!

    I say step away from those 15-minute charts; you should be looking at the charts 20, 30 minutes a day.

    And if you’re doing more than that, then you are micromanaging your money.

    And you should trade in such a way that you can relax and let your money watch the charts instead of you.

    Thanks again for being here; I appreciate your audience.

    Trade safe and keep those losses small.

  • AltSeason 2023 Full Scan from A to Z

    AltSeason 2023 Full Scan from A to Z

    In this 1 hour and 16 minute members video, I review all 270 charts and talk through where they are in our portfolio and within this Altseason.

    Memberslogin here and return to this post to view the video.

    • We have 72 coins in Stage 3 of the trade (in profit, stop above entry),
    • 31 of those coins over 21% profit, 13 of those are over 51% profit.
    • Presently we have zero coins in NITRO Stage 3, but expecting a range of them to fill out shortly if we get more bullish action in the ALT/BTC pairs.
    • There are 75 coins in Stage 2 (open trades with some risk) and
    • 71 coins in ALERT status.
  • Crypto Trading Plan Example PDF

    Crypto Trading Plan Example PDF

    Thirty two page Crypto Trading Plan Example PDF with Tutorial Video. Included with the Crypto SmartWatch model portfolio tracker.

    Our bite-sized style cryptocurrency lessons are generally under 10 minutes per video so you can start building a focused understanding of trading crypto trading for profit – and skip past all learning about the technology.

    A trading plan that you understand from entry to exit, is all you need to successfully make profit crypto trading the altcoin seasons.

    Trading Plan Blueprint

    A trading plan is a blueprint that outlines the steps you will take to achieve your trading goals. It acts as a roadmap or a flowchart, guiding you through the correct actions in to take in all 5 Stages Of The Trade. Whether you are a beginner or an experienced trader, a well-crafted trading plan can mean the difference between profit and loss.

    Whats inside out Crypto Trading Plan PDF
    Example of what is inside our Crypto Trading Plan PDF

    In the basic Crypto SmartWatch crypto technical analysis course, we will be covering an introduction to only technical analysis we need for trading cryptocurrency with the least risk. Technical analysis is a tool we use to analyze historical price data and identify our trading signals and our risk control zones.

    Technical Analysis is not about making predictions about future price movements, though the clickbait headlines on youtube may lure you into that horoscope-method-of-trading.

    By understanding the principles of technical analysis and risk control, you can gain a deeper understanding of the real job that is required for successful trading – and even work out how long it might take to become a crypto millionaire.

    This technical analysis for cryptocurrency PDF will provide you with a focused view of how we use technical analysis, including trend analysis with exponential moving average pair crossovers, trend lines, support and resistance levels, as well as our key trend reversal chart pattern.

    You will learn how to use these techniques with our risk management approach to identify potential trading opportunities and plan the 5 Stages Of The Trade in advance.

    In addition to the technical analysis cryptocurrency tutorial, we will also be covering other essential topics such as our two risk management rules, your emotional relationship with money, and how the Crypto SmartWatch can help you manage you portfolio diversification.

    These topics are crucial for any successful trader and together with our coaching and our dedicated trading community, we can help you build a solid foundation for your trading journey.

    You may have compiled a list of the best crypto trading courses available online – and yet still hesitating about which one to invest in. Other courses are designed to provide you with a comprehensive understanding of blockchain and the technology behind it.

    But we don’t need to know any of that if we just want to profit from the price swings of the cryptocurrency asset or token.

    Trade cryptocurrency and make profit

    Skip the technological crap
    about crypto.

    The SmartWatch will equip you with the skills and knowledge you need to start trading and managing risk confidently. Whether you are a beginner looking to get started or an experienced trader looking to expand your knowledge, the Crypto SmartWatch explains the entire process and then makes it a simple daily routine!

    We hope you find our Crypto Trading Plan Example PDF helpful and look forward to guiding you on your trading journey. With the right knowledge and a well-crafted plan, you can maximize your chances of success in the exciting world of cryptocurrency trading.