EMERGENCY LIVE STREAM $BTC #Bitcoin 6/11/22
so do all right all right all right all right folks let's get serious here folks come on come on let's get serious what are we doing having fun what are we trying to do here huh folks thank you very much i am big chad's i want to say a uh a warm and heartfelt thank you to each and every one of you for joining me here tonight um you know i just i joke a little bit um you know we need to be serious all the time we're talking about trading we're talking about investing and we're risking money but you need to have fun with it um if you're not enjoying what you're doing chances are you're going to suffer so have some fun with it try to be a little bit open-minded and keep on grinding so thank you very much i am big chad you find me on twitter uh let's add to the stream you find me of course on twitter i am at big chads i'm on youtube at sheds trading one thing i'm quite proud of is the fact that i am the author of trading wisdom 50 lessons every trader should know the reviews are ridiculous i never expected them to be this good if i can be completely honest but 4.7 out of 5 stars four formats the free version on look at that chat trading on youtube free version i'm putting the whole book for you for free on youtube eventually so far 14 of 50 uh this upcoming week i will do lesson 15. lesson 15 lesson 15 stick with what works cut your losers add to your winners and the rest is history talk about that so look it's a great book check out that free version if you're brand new to trading you want to understand how to do technical analysis where do i start it'd be really confusing this is where you want to start my tutorials master class ta webinars any one of these could be a full a full paid course any one of these videos watch them for free soak it up ask questions you know want to learn more then go watch my quick market updates that's where this this will go into so definitely encourage you to check that out um i will tell you that i am a founding analyst at bitcoin live bitcoin life is the best in class educational platform for crypto without a doubt uh for four years i've been doing twice a week full long for market updates putting my heart into it no matter what's going on in my life i will update the members of bitcoin live and i'm just one member in the team when you sign up you get access to all of our content um we have an amazing sale going on right now you get 50 off your first three months of membership we have the countdown clock here countdown clocks are cool just over one day left to take advantage of that if you're not sure you don't really know what's going on check out my profile go to the pin to tweet you will get access to the may 4th report you can watch the entire may 4th report for free give you a sense of what we're doing so look i you know i got all that stuff out of the way um just just here's the deal i will i will live stream on youtube at least four times this week and hold three recorded spaces i did it this is live stream number four i've done three uh three recorded spaces uh right here is the one i did today was over just about two hours ton i just take random questions from random people and it's actually really fun i love i definitely enjoy like connecting to people so i'm definitely um i definitely had a lot of fun with that but this is of value to you if you're kind of just getting started watch these spaces so i'll do like a master tweet basically uh with all the spaces i did this week but i just announced it i'm gonna do four live streams this is the last one um you know this is boom all this week boom boom boom six six six seven six nine six eleven here we are but i don't do it a lot this is rare for me i really try to save you know my analysis for bitcoin live it's um it's incredibly important to me and um i can't just do it like this all the time it definitely burns you out but like i love what i do and i love um i love trade trading and i love teaching trading i love interacting with you folks bitcoin's clearly bearish so which is tough um you know and i think in these markets your posture has to be about survival your posture has to be about how can i stick around um you know long enough to kind of capture the benefit of when the trend does change um so in a lot of my early career i just i wrote stuff you know from from wherever it was that i didn't want to sell all the way down to almost zero i mean i've seen many positions go to almost zero and i personally had to go through that um i had to go through that myself before i was really comfortable right someone says chad's you're a fire pretty fire dancer i appreciate that ask my friend back in college like i never really you know i never really did anything any hard drugs or anything um i've definitely used marijuana i'm not gonna lie about that but i've never done anything else but like my friends who did i would get around and i would dance for them and i would enjoy that and just had a good time so i love dancing that's a little little side story there um you want you want to survive so you can take advantage of of that next bull run whenever that is and so i've just lost so much money not exercising just basic risk management and you know not cutting cutting my positions um and kind of just waiting for the trend to stick around so i think we're in a really tough market you know throughout all my videos on you youtube twitter bitcoin live i've talked about all the minutia all the academics jan jam 24 bottom feb 24 bottom the may 12th bottom you know talked about the ema you know the price interaction with the ema34 i don't really need to go into that too much um it's all there right you know we're slow drifting we need some we need we need a change we need some type of a change here um otherwise we're going to tag the ma200 weekly probably break it probably going to test you know that's that november 17 uh kind of december 17 highs probably break that and then sweep down kind of right into the heart um of this support zone right you know in that kind of 12 to 14k range so you know until until something changes this is what the most likely scenario is you know we have to be honest with ourselves if you didn't if i didn't know this was bitcoin and i was just looking at a random chart and i saw this i'd say okay well this is definitely going to happen right i mean that's like a very high likelihood but then you kind of think you know what are the scenarios you see okay it's really only there's really only one data point here right and i'm observing kind of the multiple data points um in this zone you think about things in terms of zones it's not just one air one wick where one wick stopped it's about zones you kind of see right here this is a pretty big zone so you see here i'd say okay i can see it test that but probably break it and this is the level that i feel like the price would be drawn to where the kind of the most where like the magnetic forces or maybe the most gravity is um so that's just how i if if this wasn't bitcoin if i was just if you put me in a room and um and i just looked at something random of course i know it's bitcoin but it just it's just what makes sense to me on this chart uh hey khalid thanks for joining the spaces today i appreciate that i appreciate that uh compliment um i'm just having fun i'm just i'm just happy to be around bitcoin live is worth it i definitely love it so i love doing it and we have a great team what do i mean it could get bumpy and so just send me some questions i'll scan the chat room uh it could get bumpy there's where's the support from here to 20k uh josh um and hopefully i'm pronouncing your name all right there's where's the support you don't really have any price structure here like where's the support when you move up this quick right when you move up when you move up this quick you don't pause and do a bull flag you don't pause and do some type of ascending triangle that later on you can come and use this support or the bull flag you just kind of jam right up when you come up that fast usually you just slow bleed slow bleed slow bleed slow bleed slow bleed um you know that's what you commonly will see so that's kind of what i mean it could get bumpy we're really at a situation where there's no no real support here um there's not a lot of real support here from kind of the uh you know 29k level down to kind of that 20k level so i could get bumpy we're seeing weakness across the board we kind of we know what ethereum's doing you know ethereum is in major trouble looked pretty pretty terrible and kind of what that means you know for the rest of the altcoin market 1526. you know i want to see how it deals with kind of this fort you know 13 1400 area um but the way it's moving there now i'm less inclined to want to go long here honestly um you know eth is kind of front running bitcoin bitcoin hasn't really broken down yet you know i'd rather play off the 13 1400 range off of a volatile drop rather than a you know slow bleed um because if it just slow bleeds into that level you know we're dropping back down i mean you could see it going much lower i mean i mean it's a question of where you want to try to play off of do you want to try try to play off of 800 you've got some structure maybe around 450 500 um you know it's it's it's not about and i talked about this in spaces today i've talked about it before it's not necessarily about a price price level it's about how you get there so in this situation it's slow bleeding towards 13 1400 that makes me less likely to want to go along there right back when it bounced on may 12th when it bounced off to 1760 i was ready and waiting for it i've been waiting for that entry for like two months um and i jammed it i played 1760 and i sold out around 2050 right when there was kind of a weak uh weak follow through on ethereum couldn't even really clear the you know the daily ema eight for example so um you know i've had in my eye on that level thirteen fourteen but the way we're kind of slow bleeding into it it makes me you know perhaps less interested so i you know i taught you know cameron it's a great question and you think about um sentiment and you know oftentimes you can just say okay wow you know because so here's what i want to me what i want to say bears get euphoric after a move down right and bulls get euphoric after a move up so sometimes that's almost like hey the price is above the up upper bollinger or hey the price is below the lower bollinger you know bollinger band unlike the daily or whatever so sometimes it's that you know because sentiment is just as good as technicals i mean it can be as as effective if not maybe sometimes more effective at spotting these tops and bottoms um you know i kind of i kind of nailed the april top on sentiment and you know and the uh november top on kind of a combination but more technicals kind of both of it but i remember i put out a tweet around here you know it's three words i said too much enthusiasm it was just too much enthusiasm so sentiment's really really powerful for for spotting tops and bottoms so this is this is a little bit nuanced because i said you know bears are euphoric but the damage hasn't even started yet so it's like it's just a really bad setup it's not like uh you know it's not like a dip in an uptrend where um you know it's not like here where it's like people are bearish but you know then you want to counter it you know it's not like here where people are embarrassed you want to counter it right the price is testing kind of that second level support the ema 34 or even like a deeper dip to the ma50 right like we saw back here um it's that people are bearish because you know bulls can't do anything right bulls can't even close above the ema 34 so it's like sentiment's tricky it's like you do you want to go long just because people are bearish you know so bears were euphoric because they've made gains right they've made gains off of this most recent ema34 but in reality it looks like it's just going to do another leg down it looks like it's ready for another leg down and this kind of ties in with what else i've been talking about um on the weekly chart uh i have a tweet in here somewhere so weekly so um checking in with everybody in the chat room everybody seems like you're doing okay all right all right my friend so um you know i put out this tweet weekly candle cheat sheet to understand the trend and you know i've been talking about for me um you know we never had like seven or whatever nine red weeks in a row i put out i was pretty loud about that you know we had the pause candle which i don't count this as a red candle it's the pivot like the trend hasn't started yet we had two red another another pause candle five red and then another pause candle so while people while your favorite influencers and people you follow and idolize are calling this inverted hammer bullish i'm reminding you it's a bearish candle i'm reminding you that the data shows that 65 percent of the time it leads to bearish continuation right steve nissin called it bullish but bulkowski ran the numbers on it it's bearish if you look at it of course it's barrett's his strong upper shadow right um and so this candle this inverted hammer does the same thing this doji did right where you bounce and i've explained this now like whatever half a dozen times or more where you bounce and you're resetting the oscillators you reset the rsi it goes from quote unquote oversold back up to 40 50 maybe in like a four hour maybe not that much of a move on a daily per se but it may be like a four hour or something that allows another leg down these pausing candles allow another leg down and there it is likely continuation weekly ma200 magnet so um like this is not a bullish candle this this quote-unquote inverted hammer like that's not but there's nothing about that that's bullish you need to unlearn that and i say that not just to nude people but old guard you have to unlearn it it's wrong it's a bearish candle we're seeing not unexpected continuation on that right now and you know here weekly candle rejected at the ema eight right ema eight ema eight ema eight so bears are euphoric but in reality the move down hasn't really begun yet because we are almost definitely going to test 20k and i believe break it um you know and i've talked about caveats on that you know a scenario i could see that would want you know that would want that would uh kind of um push me towards going long which would be retesting this low and then coming back losing it and recapturing it getting a false break on that low i'd like that i'd like that you can say okay double bottom boom here's your here's your peak there's your breakout level and you kind of play it from there right if that developed developed but in the meantime it just looks like it's going to continue lower so that's kind of me talking through that um comment let's see let's see let's see do you think dumps are correlated to conferences um i almost feel like we have so many conferences that it's not hard to correlate it to some dump um yeah i don't know i don't yes it seems like that's the case but i don't think that's like a caught you know any type of like a like a causation a causality type of thing um i think conferences are good you want you need to have market participants who are interested you need networking you need things moving um to kind of continually getting new money and innovation and to move the space forward so i mean those those things are great in my book uh let's see let's see bb settings are default i use default bollinger band settings you can just add your bollinger bands i used for trading view just add it right up check out my tutorial on youtube where i go over all that all right let's see what's going on i'm checking the chat room for any interesting questions love from india my love right back at you i covered eth already you'll have to kind of scroll back and check at that check that uh so i mean do i have any interesting tweets not really so this is one i wanted to talk about so um i was someone was like showing me something let me put it this way any so any trade they were showing me someone else's trades and asking what i thought and i'm like this is crazy because there's no it's not correctly structured any trade needs a minimum of three to one risk to reward ratio based on the rules of classical charting so what that means is say the price is budding up against a hundred and hun 100 is the resistance three to one okay we'll say the price is is is kind of pushing right up against it 100 hundred so if you're going to go long now you want to go long in the break of a hundred your stop loss so let's say what's your stop loss all right like 98 so that's two points you need a three to one you need to believe at least you can get to 106. okay three to one profit
to stop loss right risk to reward ratio any trade needs a minimum of that you see people structuring these trades with two to one or one point five to one stay away from it right and i ideally you have asymmetric risk reward where you have a limited downside but a much larger upside an example of that would be this an example of that would be this drop that's not what i'm trying to do an example of that would be the drop down to the retest of this low if you entered here on a spring you enter here in the spring at like 25 you know 2 25 3 and your stop-loss would be maybe you know just below 2500 300 you'd be able to get more than a 900 upside i mean your you know risk to reward would be probably at least up to 28k at that point so you have an asymmetric risk reward a much larger potential upside so it's really going to understand you should be able to get a minimum of a three to one risk to reward ratio for your trades just checking in with everybody all right so listen let's see what else is going on in the chart let me just uh let's see what else is going on in the chart basically we're just waiting at this point we're waiting for this for this channel to resolve we have a generalized bare rectangle we've talked about that before with the upper boundary right around sorry about that folks the upper boundary right around that's uh 32.5 range and the lower boundary here right about 25k um 28k rather and we've got really the early move or the out of line move um you know essentially the the initial move in what is likely to be uh the eventual direction that the trend breaks out in i mean bollingers are tight we've been going sideways for a while you know what do you do here i'd say nothing most likely you do nothing and that's the answer most of the time you want to sit around and wait for volume and volatility or confirmation right you know you want a confirmation of a level being recaptured so if the price can bounce and break up above that level that's somewhere where you can go long right but while the price is just kind of hanging out in this range there's not much you can do here that means sometimes you just have to sit on your hands you have to sit sit on your hands um and do nothing and that's hard for a lot of people because uh sorry about that that's hard for a lot of people because they feel like you know if i'm if i'm not if i'm not making a trade right now i'm losing money but that's not the case you know trades need to be the the reason for your trade should never be that you have funds in your account it should be that you know you've identified some type of an opportunity in front of you so that's what i'd say about that uh what is your favorite favorite time frame to trade um i mean i definitely watch the daily trend i really i really start with the daily trend and then when i'm trading you know it's usually off the one hour i'm looking to kind of see what the one hour chart is doing i'm looking at candlesticks like up here it's really easy to short bitcoin like right here right we get the big green candle smaller green then you get the doji and you got you know you start to see this candle weakness you can see the candle you know this doji here you see the price stall and you see the shooting star you know on the one hour you know one hour is really good for um really good for for trading also the four hour as well you know especially if you want to be a little bit more conservative you can't it's just it's about candlesticks even here um you kind of get you know look at the long upper shadow on this candle get the nice bounce and look at the long upper shadow on that candle i mean that's telling you hey like watch out you know be aware something's going on um and then the lower high in this candle the spinning top indecision candle and it starts to break down and comes back up and then it's just flushed so one hour four hour you get these dojis you get these long upper shadows you know that's what i like to do but it's it's about like the context of the of the daily chart as well because you're looking you're not supposed to go to lower time frame unless you're at a key level or unless you've had some recent volatility so you know as the price is right here mulling through you know the daily ema 34 the daily ema34 that's where you go to lower time frame right when the price gets right up at the level where it should reject or it's rejected you know basically every time in the past um that's when you would kind of go to a lower time frame right uh or even here if the price is able to bounce off of here somehow comes back up and it starts to test that area that's when you would drop to a lower time frame so um hopefully that that answers your question just a little bit shout out from puerto rico good to see you luis thank you so much if we capture recapture 32k i think really 32.5 um for me and for my for my analysis i'd be focused right here right around 37.5 to 38k i feel like it's it would be pretty likely to hit that level and reject at that level we've got the ma200 coming down if we are able to break up above here maybe come back to a bulls throwback come up and bounce that would be setting up for a really nice kind of a shorting opportunity or fading fading the move um kind of that's a counter trend rally so that's eve but it's like this i know a lot of people are on watch for this i know a lot of people are on watch for some type of a a dead cat not really a dead cap but for some type of a relief rally and bulls have not been able to muster it and that's what's that's what stands out um ema 34 ema 34. it was able to do it here back in february where it started to close above the 34 we went sideways set the high of the range broke it and lost it you know the false breakout ma200 200 projection and then kind of just i mean it's been mega cell signals um from that point um so we've just been it's just a strength of a trend right every downtrend every downtrend is going to eventually tag the ema eight right and can it close above it and then it usually does close above it after you know the eight starts to go sideways and then you got the 34 usually you will at least by like the second or third attempt to start to close above the 34 right that that secondary downtrend resistance and we just i mean we don't even have that so it's just you kind of have to remark that you have to at least observe that weakness i was you know you call me a perma bear i guess if you want but i'm just you know i'm reporting what the price is doing i was kind of hedging i started to hedge a little bit in my analysis here because um you know if you look at bitcoin live i said look it's clearly bearish but i'm ready you know to adapt to new information and in back of my mind i was thinking we're probably going to recapture this 34 like it's been a while now we weren't even able to do that and that like that that's kind of sticking with me at this point um so i mean that that's what my thoughts are on that spot play 1300 it depends if you saw look if you saw what i said earlier it's not about a number it's about how it gets there if it dropped right now 15 you know 18 to 1 300 yes you know that would make great because it get there quickly and violently but if it's slow bleeding into that number 1300 is going to mean nothing you know a slow bleed into support means breaking support much of the time i'd say more more than often more than not you know so what is this a real place in kappa stand well that's great um thank you so much shout out to you i i have never heard of that place but i wish you well thank you for uh reaching out all right shout out from the philippines uh coma stop hog thank you so much for reaching out i have some friends who are filipino um is it safe to assume ultra dead yeah i pretty much there's no way i would be playing long and something i've seen some of my friends long in these alts and i i don't know what they're doing i mean this is not the time this is not the time this is not the time like this is not the time to try to be a hero um you gotta preserve your capital it you know um wait we gotta you know you gotta see bitcoin and ethereum bottom before you touch these alts and um there's like a decent chance it's just it's just it's just like a really really terrible altcoin environment for six twelve months and you know there wouldn't would would it surprise you it wouldn't surprise me and if you ask yourself that and you say it wouldn't surprise you then you shouldn't be like stacking these alts here um i had a friend who i talked to him three weeks ago and he was like i'm loading seoul at 50 and uh do i even have it on this watch list uh i'm loading solid 50 and i'm low and i'm like buying shibb whatever i'm like and i'm like ask them like what's your thesis like why say oh they're cheap i'm like don't what does that mean they're cheap oh cause it was this before yeah but there's a trend like i'm like dude you gotta at least wait till like 25 on seoul and we're you know we're heading in that direction right he was buying up here and i'm like what do we you know trends when you have a pretty strong trend and you don't need want to buy these things until they really wash out i mean seoul for example is going to 23 you know 20 to 25. i know you didn't ask about that but
um you know like descending triangle breaking down looks terrible um i think some people get really married to the idea of their coin and it's going to be the next whatever and they think i'm stacking cheapies but i've i'm i've ridden six figure positions to like like a thousand dollars or like 500 dollars because i believed in it like belief don't ever believe in a chart or anything like the minute you believe in something let's see from big chads let's see let's see believe here we go don't ever allow yourself to believe in an altcoin project the minute you start believing in something is the minute you stop respecting support breakdowns on the chart respect your money right when you believe something you're gonna allow yourself to ignore data data that's telling you you know that the trend is going lower and that things you know that that it's in it's in trouble so um belief is the enemy of knowing yeah well put so don't marry your position such such a great point so um just gotta wait folks just gotta wait it can be a it's gonna be really tough i've been through tough markets and i think a lot of people who are new market participants have not really been around for like a real washout and i haven't seen it yet that's why i've been looking for these lower you know these lower levels but um and it you know may seem like a pretty strong conviction and i do but like i'm i'll tell you i'm ready what is that tweet hold on you're let's see strong your convictions that's terrible that's me fighting with some guy that's stupid here come let's see convictions well all right maybe i'm not finding it you're hmm how about this way let's see let's do it this way i'm trying to find a tweet sorry folks i feel different technical difficulties yeah your opinion should only be as strong as your ability to change them when new information arises right i am i'm like it's super mega bearish it's like there's no debate it's bearish i've been telling you not to buy dips since 64k i'm still saying that we had the false breakout yes i said go long at 46 but then i i called the day like that bounce failed at 48k i said you know uh tweezer top you know it's like i was so i i said this first i said this i said i said there you go if we break 46k full permission to fomo chat how could you say that then broke 46k and we ran right into here it was despite all the enthusiasm march 29th i first told you to pho i'm like yo you have my full permission to fomo why did i say that how could i say that that's just crazy talk um why would i say that that's just you know i said okay we had a really well defined level we had a really really well defined level support resistance resistance resistance if you break that you have to go long and there was a great trade but it was only 46 to 48k right so i said yes go long but then here march 29th despite all the enthusiasm and there's a ton of enthusiasm it's worth observing the daily tweezer the upper bollinger it's like how do you not observe this this is like a this is a grade a candlestick stick signal after the breakout look at those the dual upper shadows in that candle right it is worth observing so you have to check yourself so i was super strong in my ability that you should fomo above 46 but i am ready to pivot with new information there new information and there it was candlestick upper bollinger led to the breakdown i mean that was that was you know 46k we're now you know we're in full goblin town now you know probably heading lower um 28 1 i mean 28 2 what are we talking about there's no support from here to 25k there's no real support from 25 to 20k so we should have no illusions um about that i don't care what your you know your elliott wave targets put you at 23k or these other numbers you have to look for price structure there's no price structure 20 to 25 25 to 30. so you know those are my thoughts on that uh let's see what's going on yep i look i'm healed it says low fighting i really believe in yourself that's thank you that i meant to tweet there's a gun um it's i'm human and i try to really not do it but um it's super rare like i'll read the comments it's like 99 percent of people are like thank you so much or ask ask like a normal question and then there's weird you know people who like whatever say weird things and it's like a que it's that's like the side game it's like oh i'm not gonna respond to this person you know move on or am i gonna like try to like you know just talk to them for a while so um it that's why that's why i really like the spaces that i did earlier because you get to hear someone's voice you get to talk to them uh it's in there somewhere you get to kind of see kind of what people are doing so i think spaces are fun it's very easy to fight with people when it's just 140 words on twitter um yeah of course i said risk off i mean there's i mean i mean it's yes risk off below 45k bitcoin i mean of course it was a huge breakdown that was a devastating that was a devastating where's my ma200 did i somehow delete it that was a devastating uh let me just reload that that was this devastating blow to the trend and it's not showing up here how about that one yep i'll add it later uh really really really really huh tacticals moving average simple moving average updated okay we can deal with that let's change it to blue that's fine input will go 200 and i'll make it thicker later but like that was devastating that was devastating that was absolutely devastating where you set a level reject reject you break up above it and and it just it got rejected and then it lost to horizontal that was devastating so um you know risk off below 45k like you can't of course and um it's been it's we've been risk off um since that and we haven't closed above the daily ema34 if you look back people were getting bullish here end of may i was i was out of my mind i'm like what are these people doing daily ema34 we still haven't closed it above it so uh let's see that was the only unexpected move yeah i mean i'm just having fun look bitcoin's been bitcoins followed the trend bitcoin hasn't really done anything crazy in a long time right it gave us tons of warning signs up here not only you know outside of the chart we saw what ethereum was doing you know but we had the up thrust right we had the outside bar right we had technical signals we had market signals we had all sorts of stuff then we had the weekly ma50 we lost the weekly ma50 we had that first close right that first initial warning sign first closed below the ma50 so there was there was definitely signs um along the way it's just a question of when you you know decided to to take that risk off posture but what was most interesting about this price action was that we were going down we had forced sideways we were attempting to go up and we just got thrown back we just got rejected right back and said here we are now um have we gone sideways we have you know in my mind we can't be we're not even sideways till we close above the daily ema 34. it's just a standard rejection uh thus far kind of secondary downtrend resistance right ema34 so all right listen this has been fun this is uh this is this is my live stream number four this week okay which is nuts i don't do this i don't do this it's but it's bitcoin live sale week this is it i you know i i say it i'm going to follow through on my word i also did three recorded spaces um check those out those are great those are like uh question and answer kind of segments with people um i'm on twitter at big chats check that out i am the author and the proud author of bitcoin live let's remove that comment a nice one though god the author of bitcoin live the best in class i'm sorry i am the author of trading wisdom 50 lessons every trader should know um the feedback has been unbelievable people are enjoying the book so i'm very proud of that fact there are four ways to get the book kindle audiobook hardcover paperback um but how about the free version you go to my youtube channel chad's trading free go to the playlist click on trading wisdom i will eventually do the entire book for free for you on this youtube channel i expand on each lesson i'll do lesson 15 next week if you want a really good kind of tutorial to understand basics of chart analysis check out the tutorials master class ta webinars playlist i think you'll enjoy that quite a bit and if you're really serious about learning how to trade you want to stop stubbing your toe you want to stop messing around join bitcoin live it is the best in class educational platform for crypto we have a world class team somehow i'm part of it i'm very honored to be part of it i personally do a twice a week long form update if i'm sick i'm on vacation doesn't matter i'm doing that video helps keep the team everybody on track helps keep me on track we've been nailing bitcoin we've been nailing this price action and i'm really proud of that and hopefully we'll continue to do that um we have an amazing sale right now now it's less than you have less than a day okay less than 24 hours you get 50 off a three-month membership it's a great deal um i would it's something i'm very proud to be a part of and associated with so um consider checking that out if you're not sure you have more questions i would encourage you to go to my twitter page at big chats check on uh the pinned tweet there is a link to my may 4th video you watch my entire may 4th video for free 45 minutes that's also a master class a free master class on technical analysis i mean what are we talking about here no matter what you do you should go watch this it will you'll learn a lot from it if you're watching this video you will totally be into it you'll definitely enjoy it um so i had fun doing this this is my fourth stream this week i'll probably do another one in maybe three weeks or so um you know in the meantime i'm gonna get back into my normal groove of just doing my thing doing the bitcoin live twice a week so it's been fun to do all of these youtube streams um i i may not respond to your all of your comments here you know in the chat so i thank you for that so you know don't take it personally if i um do not respond to that so um you can cancel your membership at any time absolutely just reach out to support they'll take care of that for you um let's see what's up everybody so so listen you have to find a way to you have to find a way to not feel helpless right you want to feel um you want to feel in control of your trading journey like no matter what you're doing um somebody here says great book thank you so much i appreciate that i'm very proud of the book you got to find a way to feel in control of your trading so you know i've learned that the more money i risk the larger my positions the harder they are to manage right it almost adds like some emotional baggage so you have to have smaller positions and you need to take those positions and break them up even and take that smaller position and break it up into three or four pieces so rather than entering all at once scale into your position take one initial entry see how the price reacts excuse me to support or resistance and then you could potentially you can potentially add to that position because you need to get a lot uh you need to have a lot of time in the game you need to have a lot of experience you need to learn learn and continue to learn and really only then you know will you know how to apply your risk properly you know in the beginning there's really no way you know there's no way to do it you think all right you read a textbook or you watch a video and you think you learn a couple tricks and you go try those tricks but if you try those tricks with real money you can lose 30 40 percent really really quickly on your position and that's it's not fun to be to kind of um find yourself in that place so start with smaller positions use that trading journal um and try to uh try to try to enter somewhere near your stop-loss right you know try to avoid entering in the middle of the channel so for like you know for example here um you know try to only you know go along with some bullish momentum right above you know 30 32.5 rather than just randomly going along here somewhere in the middle you need you need to enter close to your exit point because if you go long at 32.5 you know if the price gets back below you know 32
you can exit because you know that it's kind of a failed breakout or 32-1 or something like that it's a no it's a failed breakout so um just try to avoid trading just because you want to make a trade just because you feel like i should probably do something wait wait for a wait for it wait for it and when the time does come try a smaller position size it will probably make things a lot easier on you so thank you so much i appreciate each and every one of you uh for watching and listening today um i'm gonna get this this music party started once again and i will say that i look forward to uh look forward to the next time we speak again all right big chad's out so do
2022-06-15 04:54
