EMERGENCY LIVE STREAM $BTC #Bitcoin

EMERGENCY LIVE STREAM $BTC #Bitcoin

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what's up what's up what's up it's big chad's big chats  now i'm with my hat how are we doing my friends set the mood set the mood right on big chads i  hope you're doing well thanks for hanging out you   know this whole thing this crypto this trading is  stressful let's switch it up let's have some fun   let's try to get some perspective break yourself  out of that mind frame you're in right now let's   switch it up we're going to do some trading  wisdom some chart analysis we'll have a lot of fun   show the love hit like hit subscribe i want  you to know that i appreciate you i appreciate   every one of you i read i try to read every  comment i try to reply to all of them but um   it's getting a little big so if i miss you  i apologize but i see you i appreciate you   big chat room much love to everybody out there  you know when i started i just got wrecked   and it got wrecked for years and once i put  two and two together i started to pass on that   knowledge that's basically what this book is but  i mean that's not really why i'm here so much but   tonight we're going to start out with we'll  do define your risk i'm going to talk about   how to approach the trade that'll be a  lesson will lead into some bitcoin analysis   find me on twitter i'm at big chats i do academic  observations trading psychology that's how i like   to think of what i do my book is on amazon trading  wisdom three formats and check it out i have   audible coming soon it's gonna be great i'm having  a lot of fun doing it to give it two weeks or less   go to crypto banter hit subscribe hit that  playlist trading wisdom i have a wonderful   show there 11 so far great group of guests  a lot of fun check it out go to my channel   chad's trading if you're new you don't know what  to do you're confused i'm confused right but   you know if you're even more confused than me go  and check out my educational live streams you've   got three options there three full hour long  you know think of them as ted talks on technical   analysis i am cmt level one trained in japanese  candlestick classical charting i take it seriously   check out my book of course if you can't buy the  book you can get it for free on my youtube channel   we're going to do uh i'm going to do 50 lessons  eventually i've done nine so far check that out   enough of that if you want to learn about  technical analysis if you want to take it   really seriously join bitcoin live best in class  educational platform for crypto i've been doing   it for over three years hundreds of videos  super proud of it unbelievable team there's   an unbelievable sale now three days left all  right you get a whole quarterly membership for 97   take it seriously respect your money respect  your money by signing up for a serious   uh place that's gonna help you out a lot so  let's get it going thank you for indulging me   i'm going to bring up the table of contents  i'm going to say what's up to the chat room   and i'm going to jump right in you've been  patient enough so far so thank you for that   andrew why the mask privacy is super  important to me um i enjoy doing these videos   and even though i wear a mask i feel like there's  an element of body language you get a sense of who   i am and the mess and you know think about  it so much of communication is non-verbal   right it's body language so that's why uh privacy  is important for me so thank you for asking that   and you're welcome everybody saying thank you  for what you do uh what's going on where's the   cheese head yeah i'm looking for a good one let's  jump right in anyway folks enough of that let's   get down to business you're not here to waste  your time lesson 12 define your risk all right   the best way to avoid these situations is to  properly define your risk define it as a quote   you know beginning of the chapter do that by  setting a stop loss and refusing to add to it   at all set limits and stick with them because it's  the big losers that will take you out of this game   one of the keys to surviving this game we call  trading is to define your risk at every available   opportunity right think about that you know drill  that into your head so what does that mean how is   that how is that applicable what i'm trying to  do with these brief streams define your risk   so you come into you know all throughout the last  you know how long has this been let's get a sense   of what we're talking about so we've been in this  consolidation channel now for uh let's go to daily   let's just get a sense right so we're talking  about the failed head and shoulders let's kind of   let's autopsy the failed head and shoulders 16  days and define your risk all right so bulls bulls   always want a head and shoulders i mean it's fine  if it's a reversal and that makes sense because   you know sometimes it will reverse and you get  a confirmation you know whether it be some kind   of um some type of a descending neck base or my  you know for my preference for my money the way i   structure my trades horizontal confirmation right  whether you get that if you don't you invalidate   right so you play a head and shoulders it either  breaks out if it breaks out here you have two   theoretical trigger trigger levels the descending  resistance remember it's not so much about the the   actual trend line but the trend itself right  it's more important to show the price trend   than nail the exact you know candle wick is it  here is it here like don't get hung up on that   focus on the essence right of the price action  because you could to you could execute what am   i trying to say why is this important you could  execute your trade on a break of the diagonal i   probably would have waited for a break of this  lower high so it either could trigger in these   two places and for me it would have been on a  recapture of that ma200 so from i'm more of a   conservative trader i like to wait and trade with  uh comfort and kind of knowing i'm with the trend   so i might have bought there but that didn't  happen but as the price is setting up and we   have this head and shoulders and we have them  we have the multiple shoulders right two left   shoulders or a wide left those are two ways to  describe it with classical charting none of that   matters if you just look at there's thrusts right  here's your initial thrust down here's your second   thrust down and here's your your third thrust  and that's what a head and shoulders is okay um a   japanese candlestick is called the inverted three  buddha which is kind of funny but anyway what you   look for is what the price is giving us think  about this concept you want to trade with with   the strategy of listening to the price so you look  for what the most obvious clues are that the price   is giving you look for the most obvious levels  right the resistance here is is more debatable   than the support level right right the support  level is pretty clearly right around here the   bottom of these quote unquote shoulders right 56k  high 55s that's a pretty well established level   similar in some sense the way the 60k level was  defined right and why when it broke down and every   time it broke down and bounced why we shorted  this and while we've been shorting and expecting   the price to fade essentially just as a little bit  of a backup maybe some of you aren't sure how we   got here where you know why we're here but really  all of this is post breakdown right you have the   topping pattern the double top it breaks down so  all this is just bearish retest from underneath   so as that's happening you're thinking on lower  time frames as you're trading you're thinking it's   probably going to reject and it's probably going  to reject it keeps doing that lower high structure   you know all these bounces to the upper  bollinger you expect to maybe fade them   so in any case the the trigger for that for  the bulls to regain the trend it's a little bit   debatable right the descending trend line or the  horizontal i i would have gone on the horizontal   also at 60k because as discussed in these prior  videos that's the bottom of the double top that   completed 60k is the level right and the price  had respected it so you faded all these bounces   you have the head and shoulders you have a  very clearly defined uh support level here   right these shoulders the bottom of these  shoulders so define your risk all right   what did i say so now that i just i was a wind  bag there for a minute uh let's just quickly   took notes of which chapters i wanted to  okay yup so 12 right lesson 12 right page 33   do that by setting a stop loss and refusing to add  to your losing trade so you set a stop loss what   does that matter so if you're in here and you're  long here's what here's the point i guess i wanted   to make if you bought these range lows and you  bought with the idea that i'm buying kind of   at the at the low part of a head and shoulders  because you not you don't want to buy in the   middle you never buy in the middle of the channel  right you buy with confirmation of a break or you   buy at support right you don't play the chop we  talk about that um so if you say you had bought   down here and your stop loss had to be this right  shoulder because the way to play the head and   shoulder a head and shoulders you either confirm  or you invalidate right and when you invalidate   it's a super powerful signal right and we talked  remember we looked at ada had the same thing um   ada had the head and shoulders uh ada had that 10  shoulders it led to that bounce to three dollars   right eight that was setting up for the head  and shoulders shoulder head shoulder and that   was your trigger level here right which is  why you kind of went long and that re-tested   that level we've discussed that right so that's  the key level listening to the price that's the   price in this chart right you take what's the  most obvious right don't over complicate it so   for this lesson and i have a few i want to  get through so i'll try to be more concise   you you had to go short here or you had to or you  had to cut your long right that's your stop-loss   that's you defining your risk if you bought here  and it failed you bought here because your whole   thesis your whole trade idea is that it's a head  and shoulders and it's going to hold at this level   so if it you know below 56 you're thinking oh it's  getting a little dicey and really confirming the   sweep of these prior lows you know the 30th and  the first like you're you you got to respect your   money you got to pay attention when you're when  you're trading when you're sorry a little closer   i was excited when your trade idea fails get  out like respect it respect it respect it right   so that's that that's 12. okay that's so that  that we'll get to the whole thing we're going   to diagnose this whole thing all right now  we're going to go to lesson four low ball   so we'll talk about low ball bids all  right we're going to the daily chart   so low ball bid so we see the price so let's  just clean it up a little bit you're just   you know you're just trying to figure out what's  going on you can clearly see the horizontal level   broken so we'll draw that you can't can't avoid  that that's that's the elephant in the room and   then you're kind of looking at price um you  know price moving average interaction and your   interaction and you understand like price using  the 8 ema for support breaking down testing the   34 so you have the primary and secondary uptrend  then you see the moving average cross here so   you know you're kind of in that corrective phase  that's kind of confirming that corrective phase   so you have like right here you know these from  the 18th 19th 20 i mean it was 100 obvious we   were in a corrective phase you have the breach  of the horizontal level the moving average cross   so pretty much pretty much anybody who could  study technical analysis would be able to tell you   bitcoin is a primary bull trend but it was in it's  in a secondary corrective phase a consolidated   phase so you've known that and you're looking  for clues as to the strength the bounce in that the the 30th and then this day i mean the way this  day close there's no way to be a bull here short   term given this candle action look at these long  upper shadows that's bears rejecting higher prices   and it's like really well established at this  level um resistance right there look at that right   you can call it a supply level people are willing  to sell willing to sell it to you right so it's   bouncing here you're short and you're fading you  i mean it's all giving you all these great trades   you have to go with the trend and the trend  is down at this point and too many people kept   trying to i called it hero long the bounces your  hero longing like the end of the bounce you have   to understand what phase you're in so when you're  here it look like when you're here it's correct if   bears have the edge so so it's like the bulls have  to do better than normal you can't just assume   you know after these couple candles like  even like right here two green candles   you still hadn't tested the ema eight yet and  your underside ma50 so even here you're thinking   rejection and it did reject you you can't there's  just too much opium in any case so that's the   point i wanted to lowball bids all right so so  the point i wanted to make is you knew it was a   bare consolidation bears had the edge so you say  you know what i you know what i like to do i like   to set a low ball bid i'm a terrible trader  so i want to enter as low as i can i want to   buy at a really good moment a flash dip right so  i'm going to set my bid right at a logical level   right i'm going to take that macro lower high  i'm going to take that high from september 18th   macro the big picture the lower high right  the big may april may high the drop and then   the high of the bounce right so you think  yourself i understand i've read a little   bit of cl you know tex classical charity  and i understand the concept of a throwback   right where you have a resistance level at one  time established and then broken and respected   right and then you come back let me do that again  sorry i get a little ahead of myself so you have   a resistance level established and you come up and  do all this stuff and you come back and retest it   right in that case that's this level 5253k we did  it essentially here uh just a few days ago but   it's a zone it's not one price so it's like  what you know the debate over 52 versus 53k   is is a distinction without a difference because  it's a price zone and you understand that price   it's gonna have a filter it's not about an exact  number it's a little zone an area around it right   all that being said you you understand this is a  logical level to buy especially if it gets there   quick and you know that because you've traded  for a while and you understand kind of flash dips   those extreme movements outside the price down  the standard deviation the deviation those those   extremely volatile moves will bounce back right  so you set a low ball bit so as the price was   you know even if you were a bull let's say you  were a bull and you believed the bull case and   you and you were buying here you know 57 you  still were had a bid a limit order at 52 525   53k just in case because even if you think it's  70 30 bulls that's 30 bears what if it breaks down   all right think about that so low ball bets four  let's go to lesson four i'm having fun hope you   guys are i may not get to the chat room there's  just a lot too much i want to say right now   uh okay lesson four wait for opportunity page 15.  i don't know who needs to hear this but you do   not have to be in a trade every second it's okay  to watch and wait for a really good opportunity   and then basically then i raised the question how  can you do that how do you know what opportunity   is one way is to set low ball bids ahead of time  place these orders so low in fact that you do not   think they have a shot at filling right so think  about your mentality place it at a level where   you think man you know there's no way it could  go there great put a bid there because that's a   if it gets there you'll be surprised and it's  um it's an unusual move it's a light you know   it's likely to bounce back right that kind of  thing right i love lowball bids it hel i love   that i either buy a throwback a lowball bit i mean  you're all set set yourself up for success right   um so place these orders so low you don't think  they have a chance at filling then set an alert   on your phone or trading software to tell you when  the price gets close by and go for a walk right so   that's that's the whole thing you don't have to  let the trading own you you don't have don't have   to watch it all the time you just diagnose the  chart understand when when the trend is increasing   or decreasing based on price and supply demand  level interaction set an alert in your phone   you know and then just you don't have to watch  it all the time just say all right let me know   if it goes to 55 or let me know if it goes to  58 whatever your whatever your strategy is okay   so those are low ball bids right so you set  a low ball bed you saw the head and shoulders   and you were bullish but you said i'm smart so i'm  also going to hedge and i'll set a low ball bid   then you're like all right but how do you handle  that right i mean what if i what if i want to put   in three thousand dollars do i just do it all  at once uh do i do it all at once or how do i   do it okay less than 28 scale in and scale  out right so let's say you bought the bottom all right 28 28 lesson scale end  and scale out right what 71 page 71.   all right so managing your bankroll let's  start out with the quote it's a good quote   one bad trade can eliminate 10 good ones cut  your losers early and scale in properly to your   position rather than all at once scale improperly  what does that mean let's go low time frame   go a little low time frame all right let's just  get this ready here so we're going to go low time   frame we'll clean it up a little bit we're looking  at bitcoin and you can kind of see that head and   shoulders right and you can see the key area  so as the price is churning here you're kind of   just watching this right and you know the thing is  this is kind of the conundrum this is the problem   because often you get a great entry when  the price will briefly break support   you come back and then boom and that's  called the spring right a false bear break   so you also need to pay attention for when  that like when you get the breakdown and   then recapture that's a major signal that's  a go sign that's a that's a great thesis to   structure your trade because your stop  loss is going to be right back at that   original level and you've got momentum so kind  of you know pay attention to that all right   so we're on low time frame and in and scale out  so right so the question is what so let's say   you bought the bottom but where was it was it 53k  was it you know 52k so let's say what if you had   your um you know your what if your first buy was  like right here 54k which is completely reasonable   completely reasonable right bought you know these  lows these loads plenty of justification certainly   on a lower time frame to just enter there um but  what if you were a little bit more thrifty and   wow it went to 52 but you know let's say you set  52k right so those are a couple spots right so   we'll start we'll set the table with that managing  your bankroll properly is critical to long-term   trading survival and success one of the first  things you should learn is how to scale in and   scale out of your positions what i recommend doing  is taking the total amount you wish to deploy   and then divide that number by three or four so  i wanted to put in 3 000 we'll divide it by three   uh so then it's a thousand each times yeah right  just kidding yeah thousand each all right divide   by three so so let's say i did that and i have my  first lot here at a thousand so i've entered here   at a thousand uh i'm sorry i entered here at 54k  my first my first tranche my first entry right   thousand dollars and i was brave right i was um i  didn't follow let's say you know i didn't follow   some of the other other lessons which talk about  the cons the fact that bottoms are slow to form   often you'll get some kind of bottoming pattern  something you can use the structure or trade you   know like a failed bearish continuation pattern or  like a diagonal and then a horizontal break you'll   get some type of a double bottom with a lower low  or even a higher low all these types of things can   happen so let's say you weren't following that  you just bought in right take that first tranche   and put it to work where you think a good entry  will be and then sit back and observe for a bit if   the price moves back up the way you expect and you  receive some sort of trend changing confirmation   then you can add to your position so you can add  right so let's say what would that look like um   so let's say you bought in and we were saying you  just bought in without really waiting you kind of   just took a stab and let's say you bought there so  you bought in there what would that trend changing   confirmation confirmation be well if the price  broke back up here and i would say especially   got over that high 52 you know so let's say you  bought in at 54 to that confirmation where you   might add your second tranche might be up here  right so rather than it going lower uh and kind   of buying down here you can buy with momentum  so that's that's a way i'm you know that let   me read it again take that first tranche and put  it to work where you think a good entry will be   all right so where's that here's your first  entry all right you bought here it's heading down and then sit back and watch right if the price  moves back up the way you expect it to and you   receive some sort of trend changing confirmation  right let me just turn that off sorry about that   folks you get some sort of trend changing  confirmation that's your confirmation right   sorry that's your confirmation right breaking  that that lower high there right because that's   the big move down that's your dead cat balance  that's the high of the bounce so trend changing   confirmation on this low time frame would be  kind of recapturing that level okay scaling   and scaling out so what about the other way right  what about going down what if you bought in here   um you know you bought in here and you know it's  gone lower okay to do okay if the price dips down   further and you still think it's a good entry  then you can add to your position there as well   when you fire all of your bullets at once you  are now at the mercy of whatever happens next   and you no longer have the ability to adapt  when new information comes your way right   so that's it like gonna be agile so  say it goes lower and you and you you   you're like all right let's say you know okay  you didn't get this this amazing dip but it   came back up that's a big sign right why all  right i have another lesson i want to point to   which will emphasize this point but look at the  long lower shadow on this candle that's a great   short-term bounce indicator it doesn't mean you're  going to reverse but you have a good chance to at   least bounce and test these moving averages  you know whether it be the 34 or maybe the   20 a little bit later in this um consolidated  phase but that might say all right you know   i'm going to add a little more risk so what  you might do is maybe even on this candle as   it starts to come back down and test the range  of this candle right japanese candlestick theory   the best entries come from the retest of  reversal candles and i talk about that in   one of the chapters i think it's 44 wait for the  retest yeah wait for the retest same thing with   the concept of the throwback so as the prices  as you establish the candle that lets you that   tells you to start watching and observing then  when you get the opportunity to look at that   look at the price testing that range maybe you  add more there so let's say you were a little   bit aggressive started to add down here okay  now your first entry there your second entry   there so that's fine that's scaling in and  scaling out that's the point i want to make   last point i want to make and then i'll go to the  chat room see how everybody's doing is volume the   lesson in volume i tweeted that out and the reason  i tweeted that out is we look for volume in these   short term bottoming situations i guess you could  you could just check the let's do it this way there we go and i don't  know what that was all about   all right lesson of volume  volume basics lesson 33 okay all right appreciate you bearing with me  fake st folks thank you for watching as   well please hit like uh please hit  subscribe i'm going to page 80. so   talking about bitcoin we're talking about  how do so there you go so it's less than 33   and there we go so it's going to be less than  33 we're talking about volumes why does that   matter look at this volume right so why is that  like uh like why does that catch your attention   volume basics volume is one of the most  misunderstood concepts in all of trading the most volume typically comes at the top  and the bottom of a chart or at the start   and the end of a trend as discussed earlier  once the trend in force meets resistance   a volume filled battle ensues and the new  trend takes over like volume is what you   want if you're if you're looking for a reversal  here if you want bulls to step in this is okay   this is okay but it's building bull vault a bear  volume building building building boom climax   you need a climax you need a washout so you see  the volume uh and you see this long lower shadow   you're you're feeling pretty good  you entered here you've scaled   into your position and that's that kind of concept  in motion um i don't know if the bottom's in you   know we'll have to see how the uh it plays out  i'm going to do another update sunday night   for bitcoin live and by then we'll have a little  bit more information of course but we're really   just going to remain focused on the structure you  know the uh the lower high the weekly ma50 uh the   daily ma200 stuff like that uh you jas you can  buy the book on amazon thank you for asking let   me just uh review the chat room i went on a little  bit of a rant so supreme smithy i'm learning a   lot awesome i love it like trust me i love it's a  circle people help me out i've learned so much um   take advantage and i love hearing that  feedback this is why i do it so thank you   let's see what is going on all right  everybody that's kind of where we're at   that was a whole thing uh you know what let's  let's wrap it up there let's just let's just   wrap it up here that was excellent so listen  i hope everyone's doing well trading's hard   like define your risk right what does that  mean um trade with less you know if you're   don't risk a lot of money unless your  confidence confident and ideally don't   risk any money unless you're confident right if  you're just starting unless you're profitable   you got to start risking less because it's  experience it's like trying to imagine trying   to become a good poker player and only playing a  little bit and only having played maybe you know   a hundred hands in your whole life or a thousand  hands you need a hundred thousand hands okay like   whatever your experience level is you need you  know five or six times it or maybe 20 you know   20 or 30 depending on who you are and what you've  done so to survive that process you have to risk   less whether it means paper trading and literally  risking nothing or just scaling in and uh defining   your stop loss like if you enter let me get a  couple things out of the way that are important so   focus on strength play strong charge i made this  point last chart last video where i said between   like seoul and ltc they were the same price right  play the stronger chart soul is an uptrend plenty   of moving average support rising may 200 higher  highs higher lows and then ltc had a bounce you   know earlier in the year until you know last year  earlier this year and it hasn't done anything   since may it's below the may highs moving averages  are rolling over it's getting ready to confirm a   downtrend you know place strength you know when  the whole market's shaking down and it maybe is   starting to bounce go play the stuff that's been  strongest right like so like soul like matic   you know for example like luna there's strong  stuff out there play the strong things okay so   that's the first thing play a strong chart number  two risk a little bit okay don't risk too much   number three use a journal write down why you  entered and most importantly four when is the   idea gonna fail how are you gonna know that your  whole plan is has failed because when it's failed   move on because then you want to have a chance to  try it again you want to give yourself a chance   to try again later and if you're all messed up  in the head and you're emotionally compromised   just walk away go play chess go for a swim go  watch a movie do something walk away you got to   manage yourself if you do all those things i just  said you'll be a lot better i want to thank you   for your support i really thank you folks i love  doing this there's 700 people that's awesome um   we've been growing fast and i appreciate  all your support of course i'm on twitter   at big chads let's get this party started here  real quick hold on let's get this party started all right i'm on twitter i'm big  chad's i'm grooving with you tonight   12 3 2021. check out the free playlist  of videos at crypto banter hit subscribe   go to trading wisdom 11 great episodes so far  check out all my stuff if you're new you want   to know you know how do i do that ta how  do i get started what's a moving average   why do you use those moving averages watch my  master class webinars these are amazing three long   series webinars and if you want to get serious  about learning how to trade check out bitcoin live   best in class educational um platform for crypto  i've been doing this for over three years i'm a   founding analyst you get my heart every time  twice a week two long form updates we have an   unbelievable sale right now barely over three days  left you'll be kicking yourself if you don't try   this out i'm telling you i'm part of a great team  you get access to everyone's content not just mine   look at that ninety seven dollars three  months access what more can you ask for   the books on amazon thank you for indulging me and  letting me talk about it i think these questions   lessons are great i got wrecked and i kind of  learned some things and this is where the book   came from folks kindle hardcover and paperback and  audible version you asked i listened i'm working   hard on it i'm hoarse my voice i can't even talk  cause i've been re-recording and re-recording each   lesson i'm trying to get it right so i'll be out  in a couple weeks super super excited for that   bitcoin what a life it's fun so anyway thank you   very much folks i hope you're doing well i  know some of you stayed up late uh to listen   and i appreciate that and i definitely won't  forget it so until next time big chad's out you

2021-12-08 19:33

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