📍𝐓𝐡𝐞 𝐒𝐜𝐚𝐦 𝐂𝐚𝐥𝐥𝐞𝐝 𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬.

Do not solely depend on it...

Why?

Trading is a tough Business.

The profitable ones tell you it's easy. That's a big lie.

It is NEVER easy.

Truth is... They have found a system, way, and pattern, that makes it SIMPLE.

It is simple but doesn't mean It is easy.

...

 What then is easy if trading is difficult...?

The answer is Technical Analysis.

 Yes, the T.A. you solely depend on is very easy.

It is the easiest part of trading.

A simple buying and selling is more difficult than learning T.A...

Thus, many enter the market and do not know when to exit in loss or profit.

 Giving three months is enough to learn everything you need to know about it.

It is more than enough to learn how to draw lines and to perform the work of art on your chart.

...

Younger Me, I tell you again, 3 months is enough to learn...

 -RSI & MACD
-Chart Patterns.
- Fib & Ichimoku
-Price Action
-And More.

 In just 3 months you can do it.

If you're wondering why only less than 10% of traders remain profitable and T.A. is this easy.

...

 Well, the answer is simple.

In the same way, less than 10% are keeping the entire 90% of the country in bondage.

In the same way, less than 10% controls the wealth of the 90%.

There is MORE to trading than just T.A.

TBC...

The Truth About Technical Analysis in Trading

𝐖𝐡𝐲 𝐁𝐞𝐠𝐢𝐧𝐧𝐞𝐫 𝐋𝐮𝐜𝐤 𝐖𝐨𝐧'𝐭 𝐓𝐚𝐤𝐞 𝐘𝐨𝐮 𝐅𝐚𝐫...

Beginners Luck [BL] known as good luck, is supposedly experienced by a beginner at a particular activity[trading].

...

It may get you started... But certainly can't keep you going.

The Market doesn't entertain a BL. It doesn't care if you're advanced or a newbie in the game.

It certainly DON'T.

...

Yes!

You can make money from BL, but you can not protect and grow such money with it.

It puts you in the Game as a 'winner'. It introduces you to just a little of what is in for you in the market.

Hoping and banking on BL is suicidal. You're settling into complacency.

 ...

A savvy trader knows consistent profitability doesn't come from a BL.

Multiple successes in ROI don't come from it. Weekly withdrawal is not a thing of BL.

I once had my share of BL, but unfortunately, it led me to complacency.

You too will have yours.

...

When it comes, don't settle for it, and do not say 'I have arrived'. For it is a  gift and a curse. Use it wisely.

Goals smashing detest it. It has nothing to do with skill and hard work, but more with information.

Be at the right place at the right time.

...

It has no shame, and you need no experience to get it.

Breakthrough may not be a BL. Yet, a BL can be your breakthrough.

Your 1st job, $100, $1000... can be a BL.

Passing a prop firm account can be a BL. But it won't lead you to consistent withdrawal.

...

Dear younger ME...

I urge you not to settle for it.

Always see it as a starting point and keep pressing higher.

You can read the unrolled version of this thread here: https://typefully.com/AB_Bitcoin/t7vsQyy

Beginners Luck: A Temporary Advantage

The Power of Self Discovery.

I knew there many years ago, yet it took not long ago to understand all there is...

I see, many want to belong. They want to do what others do, in the same way and in the same style.

 ...

Some are envious, but they call it emulation.

While others are best at being inferior, unknowingly.

Why...?

You have ONE life, and you are the ORIGINAL of yourself.

...

There is none like you and  NO ONE can ever be you.

 I learned about the successful,  the first step to their success was self-discovery.

Yes, as simple as it is.

...

 Younger me, I urge you to take a path of self-discovery.

It shows your strengths and weaknesses.

 It also gives you speed and direction.

...

 Why compete someone whose strength is your weakness?

 Do you feed and focus on your strength or weakness?

Let the answers be for thyself.

...

If I may...

-They say "skip breakfast", "take your first meal at 11:am", "Sleep is an enemy, and so on.

 Of course, they all make sense.

 You can skip breakfast because your wake-up time is 6: a.m.

How do you tell me to skip breakfast when I wake by 1:am, and work?

...

 - Some believe "Sleep and be poor."

 But sleeping is NEVER the enemy to success.

 If you're not good in speaking, focus on writing, that's your strength.

...

And...

 - Others study so well with the music playing aloud.  Not me.

There are many instances to prove the enormous power of self-discovery.

Younger me, learn about thyself and focus on thy strength.

You have the POWER.

You can read the unrolled version of this thread here: https://typefully.com/AB_Bitcoin/Q7sspg7

The Power of Self-Discovery

Are you facing issues with your trades?

Here's a nine-step method that can help solve your trading problems.

The following steps were extracted from Brian Tracy's book, "No Excuses!"

1. Clearly Define the Problem.

In medicine, it is often said that "an accurate diagnosis is half the cure of any medical problem."

Similarly, in trading, it is crucial to look inward and ask yourself, "What exactly is the problem with my trading?"

The issue with your trading may be human-based errors, which are the result of conscious actions.

These errors include cutting winners short and letting losers run, failing to manage risk, lacking a predetermined entry and exit plan, not setting stops, and continuous FOMOing.

2. Ask yourself, "Is It A Problem?"

There are things you may think as a problem but they are not.

For example, your trade-hitting stops shouldn't be a problem.

IMO stop loss is an act of insurance, you don't wish to be wrong but you just have to stay safe.

Also, a downtrend shouldn't be a problem. It's part of the market cycle, and there is nothing you can do about it.

Identify the problems you can solve and let go of the ones above your control.



3. Ask yourself. "What Else Is The Problem?"

Beware of any problem for which there's only one definition. The more ways you can define a problem, the more likely you find the best solution.

For example.

'What is the problem?' I tend to FOMO a lot.
'What else is the problem?' I tend to go long only when the market is green.
'What else is the problem?' I see myself entering only moving trades.

From the above, one can be easily solved.

4. Ask yourself. "How Did This Problem Occur?"

Understanding the cause of a problem will help you to avoid it even before it starts again.

If it's a repeated problem, it means there's something you are NOT doing or doing wrongly.


5. Ask yourself. "What Are The Possible Solutions?"

The more possible solutions you can develop, the more likely you will come up with the right one.

For instance. "I tend to cut winners short and let losers run" is the problem.

Soln 1: Set your TP and Stops in every trade.
Soln 2: Never extend your stop loss level.
Soln3: Only extend your TP while locking in profit, technically.



6. Ask yourself. "What Is The Best Solution At This Time?"

An average solution rigorously executed is often superior to an excellent solution not implemented.

Thus, Do a few things well, and perform them often and consistently.

7. Make A Decision.

Now you have a solution. Decide to do it immediately.



8. Take Responsibility.

The market is the market, and it's neutral. It doesn't care about you. It cares not about your losses, wins, or mental health.

Take responsibility for your actions. Yourself.

Your losses you learn from, your mistakes you correct them. Your wins are the desired results.


9. Set A Measure For The Decision.

What are you trying to accomplish with this decision, and how will you measure your results? How will you know that it's working?

The more accurately you can determine the result that you want to achieve by the solution, the more likely it is that you will achieve it.

You can read the unrolled version of this thread here: https://typefully.com/AB_Bitcoin/zAoVQmn

Nine-Step Method to Solve Trading Problems

I came across the Q4 withdrawal history of this trader, and it truly inspired me.

@6IXTH7ENSE

It's not because he made over $35k, more than 40,000,000 Million Naira, but...

To some, the outcome may seem poor, while to others it appears massive.

What I noticed, however, was the consistency. Every week ended with a profit.

That dedication is something I truly admire.


YES!

In the game of trading, there will always be good and bad days, weeks, and even months. It's part of the journey.

However, once you achieve consistent profitability as a trader, nothing can take it away from you.

Not even your village people.

It means your skill has become as sweet as honey...

Before you even think about flipping $10 - $10,000 or looking for investors, make sure you become a consistently profitable trader.

Just so you know, a consistently profitable trader rarely does the above.

P. O said,

'Investors are like bees, they are only attracted to honey.'

Put in the work and master that skill. It will become the honey that attracts everyone.

Lastly, this is for all you struggling traders out there.

Remember, every successful trader was once in ur position.

Confused, directionless, feeling foolish, and having blown accounts.

But they never gave up.

They did whatever it took to navigate through the process. I'm asking you to do the same by 2024.

I can assure you, it will be worth every drop of sweat.

You can read the unrolled version of this thread here: https://typefully.com/AB_Bitcoin/B4ikqnK

Consistency in Trading: The Inspiring Result of @6IXTH7ENSE

Life Lessons From The Financial Market.


== Time and Season rule them all.

You can do something right and get less/no results, and something wrong with more results.

It's all about the time and season.

== Patience is Underrated.

Like a skill, LEARN it. It pays.


== Luck do exist. Majority of what is termed "lucky" is build on hard work, consistency and discipline.


==There is always a smart way of getting things done after you MUST have mastered it the hard way.

== Nothing is easy,  gaining mastery makes it SIMPLE.


== You're better than 90% of persons/what you envy to become.

==You strength/edge is your most significant advantage. Use it to its fullness and let your weakness takes care of itself.


== You only NEED 1/10 of what you WANT to be comfortable.


== Every successful financial market player was once as dumb as you.
Don't Give Up.

==Many are Criminals, they don't have the opportunity to steal.

...Not Yet.


== Make that noise, hype it, loud it, show off... if your biz/finance depends on it for growth. Else, go low and stay low.

Your followers are not your friends.

== That friend is still with you bcos you know what he doesn't know and you have what he doesn't have.

Stay sharp.


== Everyone has a price, but true loyalty can't be bought.


== Give and it Shall be given.

Understand and practice this, you shall see wonders.

== There is no overnight success. Even a gambler and a drunk know this.


== Less Is More. Do not complicate it.


== YOU are all it takes to be successful. Find your path and dig through it.



== Every action you take comes with a more/equal opposite reaction.

fuck around and find out, play with fire you get burned.

== With proper discipline, some prayers are not needed.


==Everything, I mean EVERYTHING is related. You just have to connect the dots.


== Investment is a must. Cash is King.


== Knowledge is like a door, the application of it is the KEY that opens all doors.

Life Lessons from Financial Markets

Can I become a millionaire trading crypto? I asked.

Looking at me with a "here we go again look", she said. Before I answer, I need to know a few things from you.

What is cryptocurrency?
How does it work?
What and how do you trade?
What and how do you invest?

1/

She asked with a not-too-good-looking face. But this time, I was quick to answer, it's easy you know.

'Haha', she laughed. Now with a relaxed face, she begins...

The question you asked is one that runs through the head of every new and wannabe crypto trader/investor.

2/

The hard truth is that to become a crypto millionaire depends on you. YES, it depends on you. Remember the popular quote by Brian Tracy...

3/

She didn't stop. Cryptocurrency is a broad space, trading/investing is one way to be a millionaire. People rush into trading and investing because of the volatile nature of crypto.

And of course, the volatility is an edge to your success and failure in this crypto space.

4/

In my head, this is enough, all I wanted is a Yes/No for an answer. But hey, do not ask a question, when you're not ready to listen to the answer.

Are you still with me? She asked.

Of course, I'm with you. My crypto friend needs me to be in the now moment.

5/

Now, to your question. YES, trading/investing in crypto can make you a Multi-Millionaire. She said.

I became a crypto millionaire because I knew and understood 4 basic principles.

AB, I will tell you these working principles for free. I want you to become a millionaire.

6/

She continued...

First, you must learn how to preserve your capital. In a bull market, making money is easy.

But when the market dips or a downtrend, what happens to the made money?

You have to manage your risk in the space to be a winner. Remember, cash is king.

7/

Secondly, learn and understand how the market cycle works. I learned this the hard way.

In every business, there is a peak season and a low season. This is the same with crypto, accept whatever cycle we're in. Do not fight it, you can not win.

8/

Your awareness of this makes you think long-term, and every long-term player is a winner. FACT.

Pumped at this point and was ready to execute.

Then she said... Boy, relax. I'm not done. You have to learn to be calm, it puts you in control.

Dopamine don drop, body don calm.

9/

Keep an eagle eye, it helps you spot new and promising projects. $LINK was at $0.15 yrs ago, $BNB was at $0.10, 5 yrs ago, and $ETH 0.45$ seven yrs ago.

Wondering how you too can know about these projects and ape in early enough? Here is the deal, you must do the needful.

10/

Research and experience are the keys. Experience comes with time. You must participate, and be involved in the losses, regrets, lessons, and heartbreaks.

Lastly, I earn from my crypto holdings. You agree with me, trading is active earning, you don't trade, you don't earn.

11/

There is no greater joy than making money while doing nothing. Learn to put your crypto holdings to work. Passive earning is a MUST.

Follow these steps, and you will become a millionaire sooner than you think. You will meet setbacks on the way, it's normal, Keep going AB.

12/

Wealth creation is a journey, a process, and a long-term goal. Don't let anyone talk you out of the possibility of it, you can do it. She concluded.

Indeed, my crypto friend is a blessing. And I hope you're blessed reading this to the end.

13/13.

Can I become a Millionaire Trading Crypto?

Today, Sunday. I was invited to two different churches for baby dedication.

So, we went. The first church service was brief and impactful, when it was time for offering and tithing, the pastor read a chapter from the Bible. Malachi 3:10.

We did give our offerings and immediately left for the other church service.

Entering late, the sermon was over and the church was coming to a close. Again, it was time for offering and tithing. Then, I noticed the same chapter from the bible was read. Malachi 3:10.

What a coincidence I said to myself, then my crypto friend tapped me slightly and said.

"In life keep doing what gives you the needed result, never get tired of it. Even if it's boring, keep doing it. Never stop."

To end it, she said. Investors and traders are successful because they find an edge, a pattern, a system, and a hack that works for them, and they stick to it. They keep repeating it, as long it keeps working. They never get tired.

Do it and you'll become a winner. 

Winning is Boring.

You Can Short Trade Without Using Leverage.

When you borrowed funds to make trades, in other to profit bigger is leverage.

Using 5x leverage means, multiplying your trading capital by 5. $100 capital turns $500 on 5x leverage.

Wow, this is cool right?

Any profit/loss will be calculated from the '$500' and added/deducted from your real capital $100.

Short trade 'go short'. You borrow an asset and sell it, you wait for the price to go lower, buy same asset (at a lower price), make profit and returned the borrowed asset.

So in a short trade, you're predicting the price to go lower and taking action to profit from your prediction.


Back to the main topic.

If we're told to 'trade with the trend', and we're cool with it.

A bullish market = Uptrend.
A bearish market = Downtrend.

In a bullish market, many were spot trading, buy and hold for it to go higher, then sell. Without using leverage.


In a bearish market, you can do the same by going short. Without using leverage.


Leverage comes with MORE risk. ICYDK.

Easy practice that can keep you profiting at shorting.

1. Map out major/key levels
• Resistance level.
• Support level.

2. The Breakout Strategy.
• Price break through resistance [exit/stop loss]
• Price break through support[Entry/go short]

3. Range trading strategy.
• Price falls towards support[look to take profit]
• Price rises towards resistance[look for entry]

P.S. All chart patterns have a support and a resistance. Follow the above principle and stay profiting.


Cheers, AB.

#Abcryptotalk


Understanding the difference between "investing and trading" has been a saving grace for me in the #crypto space. 


More👇👇

A Crypto Trader. 

 https://twitter.com/ab_bitcoin/status/1481507148785872896?s=20&t=1KuUuUxDEcOccT5vyn2pdQ

A Crypto Investor

https://twitter.com/ab_bitcoin/status/1481192298993971200?s=20&t=4i9mJx4ekSqnkxzQIl__CQ

Finally. 

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