Crypto Trading Traps and Countermeasures
INTRODUCTION: Cryptocurrency trading differs from stock and commodity, forex and options trading mainly in the mechanics. The rules of fundamental and technical analysis apply to all five.
In this seminar, we will outline the main strategies used for decades to make trading decisions and then pull them apart to expose the weaknesses in each. Some people think technology and education have rendered some strategies, such as employing Japanese candlestick patterns to determine buy-and-sell points, obsolete. The algorithms will get me, you say. We will examine such strategies in light of the modern tricks and traps used by the big guys and offer countermeasures to their countermeasures.
AIM: To expose traps in using traditional trade strategies and offer tools to stay alive in the trading game and indeed turn those old strategies into modern weapons for profit
MATERIALS and METHODS: Wall Street Workshops identifies four components that belong in a complete cryptocurrency trading course. They are: Mechanics such as choosing an exchange; Fundamental Analysis, such as determining the true value of a coin or token; Technical Analysis, such as buy- and sell-points; and Psychology, which includes trading tricks and tips. We will take each of these components apart and show how the typical retail investor gets beaten by the professionals, and what strategies and what kind of thinking (contrarian) is essential to survive and thrive at the game.
RESULTS: We won’t make you rich; we just sharpen the tools in your toolbox so that you have the opportunity to make yourself rich. That means cutting losses to a minimum and keeping your stake in the game.
CONCLUSION: Algorithms, dark pools, bulletin boards, inside information and massive resources and created a lot of goliaths in the trading world and badly shrunken our odds of winning. Now that the tulip bulb mania stage of crypto (2017) is behind us, making money will take wiliness and some long-term thinking. That’s what we will talk about in Crypto Trading Traps and Countermeasures.
KEY WORDS: candlesticks; chart patterns; psychology of trading; tips, tricks, traps and strategies