- 00:04 – My Adventure In Cryptocurrency Space
- 01:58 – The Bitcoin Chart
- 03:27 – The Reason For Making This Video
- 06:25 – The Base Trading Method
- 09:33 – The Person That Taught Me Base Trading
- 11:33 – Elliot Wave Pattern
- 12:16 – Another Resourceful Person Am Following
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Hey guys what’s up? It’s Dan again from cryptoCamacho.com
00:04 – My Adventure In Cryptocurrency Space
And hey guys so I’ve been in the cryptocurrency markets, learning cryptocurrency day, trading cryptocurrency, investing in cryptocurrency now for a little bit over a year, about a year and a half maybe a little bit less than that. And all along the way I have learned a ton; I’ve learned a tremendous about day trading, about investing, about reading charts and how to follow charts, how to invest at the right time you know when you’re day trading or swing trading and cut all along the way. I’ve discovered so many useful tools, so many useful mentors’ people that have taught me you know how to do different things. There is just a wealth of information out there and really in the last year and a half, I’ve learned so, so much that I decided to create this YouTube channel. Start telling others about it and really you know got that excitement got that passion for cryptocurrency which is why I’m still doing this today. I’m still day trading, still investing, still making YouTube videos really just because I love it. It’s very, very interesting to me you know the feedback that I get on YouTube channel from the comments and others is invaluable to me. I learned so much and all along the way I mean I in the past you know I’ve invested in the stock market, I’ve dabbled in day trading, in the stock market. I’ve dabbled in penny stocks for a while on and off mutual funds things like that, but never really you know it’s never really attracted me until I met cryptocurrency right. Day trading, reading charts, Elliot wave theory you know how to…different trading strategies, support and resistance, and base trading strategies that never really grabbed me like it has in the cryptocurrency space. And I think that’s because the volatility in the cryptocurrency space cryptocurrencies markets is so wide-ranging that the opportunities are just much, much greater right. The losses can be magnified, but the gains can also be magnified as well and that’s what really attracted me to the cryptocurrency markets. And especially, it’s what attracted me to day trading and swing trading in the cryptocurrency markets, because I saw just the opportunity everywhere right.
01:58 – The Bitcoin Chart
I mean if you go and look at the Bitcoin charts, I mean there’s volatility all over the place all across the board. I mean you’re measuring changes each day or within like a 2-3 range you know anywhere from 10-50 70% in some cases. I mean just take a few examples right. There’s a 50 saying gain right there right. You know then obviously, there’s a 40% drop right there. There’s a 50%, a 43% gain right. Just in the last few days there’s been another 45% gain that is very, very attractive to me because when you’re putting in large sums of money tens of thousands of dollars on single trades you want there to be a lot of volatility so that you can capture the upside and profit from any time. There is again even if it’s a minuscule or a small chain, but when we’re a small percentage change, but when we’re talking about the cryptocurrency markets we’re seeing big wide you know right Wide-ranging changes. And so, this has really attracted me along the way and kind of along the way you know obviously, I’ve learned a lot from a lot of people on YouTube, from a lot of people on Steamit blogs, a lot of people on Twitter you know in every corner of the internet, Reddit you know it’s another really good example on Bitcoin forums and things like that everywhere you look there are really, really great resources to help you learn not only about cryptocurrency, but how to invest in cryptocurrency and investment strategies, and ways that you can make money in these crazy markets that we’re seeing today.
03:27 The Reason For Making This Video
And I’m really making this video because I want to make you guys aware of this, and I want you guys to be really educating yourself, learning you know deeply, learning about what is going on here, because aside from what’s really even going on in the cryptocurrency revolution as a whole as it pertains to government, banks you know things like that. In terms of you know how it relates to the stock market, trading human psychology, I’ve learned and gained so much just by learning how to read charts, by learning how to trade in charts, by learning how to be patient and holding cryptocurrency, by learning how to be patient and waiting for dips and drops in the market, to you know to present good opportunities or better opportunities to buy. And that has been invaluable to me; I can now take this anywhere else I go. You know I can go to any stock market, I can go to any market, and I can essentially look at how to read the charts, because of what I’ve learned over time. And this is not all come at once; this did not come on my own you know how to want to help along the way just by learning. But the best experience, the best learning experience I’ve had by far is actually doing; by actually going into the cryptocurrency markets and by actually doing the day trading with smaller amounts of money until I learn, until I feel comfortable with trading. So, if you’re not doing that today take $100 right divide it into a couple of different categories in practice day trading, practice swing trading right, $100 may be a lot to some people right. It is definitely a lot to certain people not a lot to other people, but $100 will and could really; really change your life if you play it the right way in the cryptocurrency markets. And I’m not saying $100 is going to make you a millionaire or anything like that, but what it will do is it will teach you very, very valuable techniques in terms of how to read charts and how to read markets when they’re going up and down. one of the most valuable techniques I’ve learned it revolves around the support and resistance method of training, or what I call the base trading method of trading right.
A lot of people do this; there’s a lot of different types, in different ways, different permutations of this training technique or this trading methodology, by using technical analysis to you know to enter the markets at the right time, sell out of the markets at the right time. But there’s been really one person that’s helped me more probably than anybody else and it’s because of his clarity of you know the way he teaches, the way he educates his experience, and wisdom of being a stock market and day trader for probably I think 10, 15, 20 years plus. There’s a lot of valuable and wisdom in listening to people like that and today I want to give a couple shout outs to people that I have learned from and I want to give you them as resources as well as you’re learning on your cryptocurrency journey right. It really helped me a lot I still follow them today. I follow their material today, but what they’ve taught me has been completely invaluable, and I want to share that with you guys. I want you guys to benefit from that as well. This is not a sales pitch, I’m not selling anything and I don’t even think these people sell anything maybe one of them does sell something, but you don’t have to buy it. He gives picks away for free and so forth and so on. And so let me jump into it.
06:25 – The Base Trading Method
So, the base trading method that I’ve been talking about for quite some time now, it’s essentially when the market plummets below a certain base level in what I call buy a base level is there’s been a hard fall in the market. There typically, is a zone of support right where people will start to scoop up that particular cryptocurrency or stock at a certain price right. When it’s very, very low people will see that and they’ll say oh I can’t let this go any lower I’m going to buy this. This is a great opportunity to buy and they buy and the market then goes back up. That’s what you call support right. It’s a base of support where there’s a large group of buyers willing to invest at that particular price point right. So, what based trading essentially does is once the price has fallen below the previous base that we’ve seen on a major chart right. A major drop, for example, the likelihood or probability of it rising back up above that previous base is very, very, very high right 90, 95, 97% probability that it will go up higher than the previous base. So, take this as an example there was a huge massive drop right in the end of December right here all the way down. There was like a 70% drop right all the way down or maybe was like a 50% drop all the way down the right. Mark that as my base right, and then from the days and weeks that follow I was looking for okay when is there going to be a drop below the price of 11,124 approximately right.
We went from 20,000 all the way down to 11,000, then we started climbing back up again with fluctuations in between, but then eventually and ultimately there is another dip below that base and that’s right here right. And really what based trading says is that anything below that base is fair game for buying right, because if you assume that the base that was cracked right here is going to return to its previous levels and then some you look it right here in anything you buy below that base that previous base is profit territory where you can actually make money on the bounce right. And that’s exactly what base trading is and if you look at the charts this happens over and over and over it happened right here right back to the base and above the base right. It happens all the time guys, it happens I mean I mean here are some other examples here’s one right here. Here’s the base right here we cracked that base again went above that base right. So, this happens time and time again and I’ve even shared with you a tool right here [inaudible, 08:53] which shows you all the bases that you can trade off of and this is a Bitcoin USD T tether chart and it shows you exactly where the bases are right. So, here’s a base you could have profited off it right purchases here. Here’s a base you could have profited off of purchases here sells here. Purchase sell or just sell you know purchase here, sell here. Again a base purchase sells and this happens over and over and over and the reason it happens is, because humans their psychology acts in a certain way, and its predictable right. These markets literally draw out the psychology collectively of millions and millions of people trading and this is the charts that it draws right.
09:33 – The Person That Taught Me Base Trading
So, the person that originally turned me on to this idea his name is Quickfingers Luc. He actually, referred me to this tool as well and I don’t think he actually built this tool one of his followers built this tool and I shared it with you guys, but he has a steam it blog right here if you go to steamit.com/@quickfingersLuc. I’ll put this in the show notes as well. You’ll see his blog he’s got a pretty active following about 5,000 people very, very religious fallen core followers I would say. Even very religious and it’s for a reason right. It’s because this guy Quickfingers Luc, he knows what he’s talking about and he’s been day trading and swing trading in the stock market, on penny stocks for I think 15 years or something like that. I would highly, highly recommend that you go to steamit blog, you subscribe to it and watch all of his videos right. You’re going to learn a tremendous amount about base trading, about day trading, and about how to pick cryptocurrency picks and in stock market picks with very, very high probability of accuracy. He also has a YouTube channel Quickfingers Luc; it’s grown to 26,000 which is which is phenomenal right. I mean I remember when it was a much; much lower than that and he shows exactly how he does his base trading I have mentioned some of this in my videos in the past. I’ve mentioned you know the base trading technique, support and resistant techniques this has come from a lot of different sources. I’ve you know learned about support and resistance from many, many different areas, not just Quickfingers Luc, but I have to say that Quickfingers Luc teaches it in a very, very effective way. He breaks it down in a very, very effective and simplistic way that really helps newcomers understand actually do it which is why I recommend you guys go and check out what he does. So, that’s kind of the first guy that I want to mention again I’m not getting paid to promote this, I’m not getting paid for anything here, I’ve just been very thankful and appreciative to you know the knowledge that he’s given me. I want to impart that with others and want you guys to learn more about that. I will continue to talk about base trading on my YouTube channel as well, I will probably break down a lot more techniques and I’m exploring other techniques as well right now including Elliot wave theory right.
11:33 – Elliot Wave Pattern
So, Elliot wave theory is a way to read wave patterns right. It’s actually a technique that came out of physics right because in physics there are waves and you need to know how to predict you know how those waves will react in different situations. And it leads to wave theory right. There are theories about waves and how waves move, and how particles move and so forth and so on. And Elliot wave theory really stemmed or kind of spawned from that right in that early I think it was like the early 1900s early like 1930s or 1920s or something like that. Elliot wave came into being and it’s a very, very powerful technique to predict the stock market or to predict the cryptocurrency market, any markets where human psychology is involved. It’s a very, very effective tool to do that right.
12:16 – Another Resourceful Person Am Following
And there’s one guy in particular that I’ve been following on Twitter his name is Eric Choe young guy very, very large following on Twitter, because he has been giving out a wealth of information I mean tremendous, tremendous amount of information about trading stocks. He gives out certain picks you know he’ll tell you when to buy and when to sell certain stocks…I’m sorry certain cryptocurrencies and as an example he’s very, very good. He I’d say he’s an expert at Elliot wave theory and as an example here are one of his charts that he brought up right. So, you can see it’s very, very technical very, very in-depth and he draws out literally how Elliot wave theory works. If you see these numbers in these letters here this is him plotting out different Elliot wave patterns, heading, shoulders patterns over and so on and marking on the charts where support is, where resistance is, where the targets are, where you should buy, where you should sell and I’ve been following this guy for maybe, maybe a month or two now at this point. And I’ve been very, very impressed at his picks and his ability to really just break down these charts and an effect in a simple way. Let’s go down I mean to some others right. He’s talking about Bitcoin a lot here just so you know because of what’s been going on with Bitcoin, but he talks about a lot of different charts and different coins right here. He’s talking about enigma, enigma’ token right here. He’s breaking it down saying you know the bottom is going to be right here and then he breaks down where somebody should you know first buy, where they should re-enter, where the short-term target is. You know to make a quick buck if you’re day trading and where the short-term or long-term targets are if you’re looking to hold for a little bit longer. I have them out found this tremendously, tremendously helpful his following has grown significantly and very, very quickly because of the information he’s been providing. Again I think he does sell a spreadsheet. Yeah he does and now it’s a February coinless pick you can buy it, I think its 50 bucks he offers a free version and a paid version. I think the paid versions is 50 bucks so not a big deal. I haven’t actually bought it yet, because of all the information you just gives out freely on Twitter I found extremely, extremely useful here’s another one right here with Bitcoin showing you know where things are going to go. His most recent target is 9,000. So, he’s saying that Bitcoin is going to go down and have some resistance around 7800 or a little bit lower and then the target will be 9,000. Where you want to sell and he’s actually showing in a different chart that there’s going to be a drop after 9,000. So, we’ll see if that actually happens, but he’s fairly accurate quite a bit of the time. So, the reason I’m making this video is because there’s people like this that have been helping me through my journey right. There’s others as well, there’s influencers I’ve talked about before John McAfee, Jihan Wu, there’s a lot of people in the market that I follow that I watch because they know what they’re talking about. There are people I follow for technical analysis like Quickfingers Luc, like Eric Choe, and then there are other people I follow like influencers that just have markets Wade. They really are the ones that can really help to sway markets based on what they say, because they’re followings and their influence are so big that’s what they do. They announce something on Twitter and also in the market moves because of what they said right.
But there are also smaller players that aren’t quite as influential that have a wealth of information through technical analysis like these guys that I just mentioned. So, guys hopefully you go and you check out their profiles again. That’s Quickfingers Luc you can go to YouTube and search for Quickfingers Luc and find his channel, you can go to steamit.com and then you know search for Quickfingers Luc. There you’ll find his Steamit blog as well Eric Choe. He’s just Twitter.com/cryptochoe CHOE follow him. And again guys if you haven’t looked at what these people are saying please, please do, if you have others I would love to know who these other people are, that you’re following that you find, like whether your top one to three people that you followed right, to get information from. Who are those people I want to know, who they are because I want to follow them too right. I’m always wanting to learn, always trying to learn, and let’s help each other try to learn you know in this crazy cryptocurrency market now today. I think it’ll help everybody make more money.
I’m Dan from cryptocamacho.com hopefully you found this helpful? If you haven’t subscribed yet, please click on my YouTube link, the red button subscribe on the top or bottom depending on how you’re watching this video. And I will talk to you next time. See you guys.