#b90x - DAY 19 - Technical Analysis 101 - Spinning Tops and Doji?



TA is no joke, even when you get good it is still just statistical probabilities.My calls are usually spot on when Iโ€™m not able to get in and wrong when I do :see_no_evil: but guess what tis but a scratch cause the main game is HODLing strong :muscle:


Something Peter said that I did not catch the first time through.
Different coins need to be looked at with different time periods per session. Peter seems to like the 30 min session when showing BTC for all of his examples. And for Bitcoin, that seems to work. But for other coins that does not seem to work. I follow Litecoin closely, and even though it follows the same graphing pattern as BTC, the indicators are not the same. The scale of the graph is very different. I started playing around with different time periods on litecoin and I see things I like in 5 & 15 min sessions. The indicators seem to speak louder. I have not settled on which time length I like better. at the moment I will be bouncing back and forth between the two.
I will also have to start keeping a log on my trades. I think by doing this I will knock out some of the FOMO because I will have to justify my actions based on the indicators. I know I have lost out on some gains because of getting in or out before I should have, when the indicators were not clear. (should have just waited properly when I see the dojis and spinning tops)


I follow 4 coins now. I got overwhelmed trying to keep up with so many projects. I tend to view 30 min or 1 hour indicators, but I am not trading.


Awesomeness โ€ฆ happy and grateful


It was interesting watching live trades on Binance today to understand the wicks/shadows to see the doji/tops happen in real time. I played with the different indicators just to see how different it is from the 5, 15 and 30 minutes then looked at the hours and even checked out the days to see the different bull/bear patterns emerge. I need more practice watching but Iโ€™m looking forward to being able to evaluate the market and do trades with more confidence. :nerd_face:


I definitely need more practice but liked the wait to check movement advice. I am working on restraining enthusiasm, as I tend to get sucked in mentally by the fomo and these videos have helped me start checking the enthusiasm at the door.



This is actually understood! Weโ€™re making progress :joy:


Hodl Gang hodl Gang hodl Gang


Them wobbly spinning tops have no clue where to go, they can just fall to either direction :smirk:


Spinning Tops and Doji


it occurred to me now that : TRADING = THE SCIENCE OF SPECULATION :smile:
anyone agree ? disagree ?

Iโ€™ll call this my inspiration of the day