Shorting Bitcoin ($BTC) & Developing Your Crypto Trading Strategy
Hey. What's up snipers tensor Tom here today, we're going to talk about shorting, Bitcoin which means making money as the price goes down we'll, also generate, a new AI forecast, chart and we'll talk about developing, your own crypto, trading strategy, right, here on snipers, tube where you get tomorrow's price action today. And. Welcome. Back to snipers tube I'm your host tensor. Tom so. We've had an interesting turn of events today haven't we. Looking. At the Bitcoin chart as you can see the. Price has taken, a significant. Dive and. Why. Has that happened well, we're going to take a look at why and. What. It might mean, so. We. Had previously, come, up here and we had a high of. Nine. Thousand, two hundred and, twenty, one dollars. About. And. Then. Now we are down to eighty, five. Sixty. Okay. So what precipitated, this this. Drop in price, I'd. Certainly love to hear your opinions. On that in in. Our chat box but. Let's. Go over today's. Recent. Events so we. Had some news come out of Japan which, I'm sure a lot of you are aware of, about. Finance which. Is probably, at this point at. Least one, of the most popular. Altcoin. Exchanges. And so basically. The news out of Japan is that. They. Are, going, to, try. To ban, finance. I think I think that's what's going on and. So that's sort of why, everyone, is saying that the, price is going to go down. It. Might not be so dramatic, as all that and. Why we're having this, corrective. Price I mean do remember, that we. Had a pretty, dramatic run-up, here with, absolutely, pretty. Much no correction, I mean we had a little drop in price, but it was really nothing so, we I mean we're due for a corrective, move right, this. Shouldn't come as a surprise to anyone and I'd, also like to. I'd. Like to go back and show. You guys some of our previous price, action on, our previous run-up. So. Let's let's. Check out the chat real quick. Let's. See you. Volume. Is dropping. Crypto. Crypto. Jg says what exchange you use for shorting, we're. Gonna get into that in just a moment. Let's, see, nothing. To do with finance, I live in Japan and, it's just because people just, want to sell. This time. Interesting. Very. Interesting. Ok. This, market, has steadily, been going down for the past couple of months great. Cheap cheap, anton. See. By Nantz coin no one can stop. And. You. Rock thanks, David. We are still in the bear market it says. Michael. Our. Mission see. Why why, is Bitcoin, following. My why. Is Bitcoin. Falling. Oh why, is Bitcoin falling, my brother. So. Alright let's go. Back I'm gonna show you guys something. And. This. Is. Our. Previous. Bottom. So. I would definitely consider this, our double, bottom right I. Really. Wanted us to have a. More. Dramatic bottom, than we're having right now I was. On snipers, too you, know telling everyone that we. Needed a better. I'm. Sorry a lower bottom, that, it would be more healthy if we had a lower bottom and that's probably true, and. Of. Course you know who knows it could still, happen we, could still go down of course, and see a lower bottom but, what, I see happening right now in the chart is, it. Looks like we've we've. Pretty accurately. Retraced. Retraced. This this. Previous, fractal. Pattern that. We had on our previous, low when we went all the way down to about. Six thousand fifty, nine hundred and. So. Let's oh just follow along here with me real quick let. Me get my drawing, tools out. So. You. Get this and. There. We go. We'll. Go on the, three. Hour chart, let's do that. Okay. So. Previously. So, let's, let's, just say that we're retracing.
Everything. That we did last, time, all. Right so where would we link these these, sides up and and to get to where we are right now well, let's assume that this was our bottom that would be our starting point logically. Okay. So we'll link these two together. Let's, grab another color. Oops. Uh. Okay. There, we go darn. It. Why. Is he doing that all the sudden. Just. Because that's the last tool I used okay, all. Right and. Okay. So let's say that's our bottom that's, our bottom, we're. Retracing, so. Now we come up and we have, our first. Little. Dip in the price on the way up so, where would that be well it would be at a similar level. Would. It be here. Let's. See we're coming down here and. This. Bottom, let's, go on that let's go on the hour or the two our first. Because. This doesn't look like a dramatic, retracement. We, need to get this as as. Good. As we can. As. Exact, as we can okay so we had to short. Bottoms there. And. We. Came up here and we had two short bottoms there alright so let's connect this area. To. This. Area. Okay. And then, we came up or. You. Could have done it to this one here so let's just draw that as a possibility. So. We'll have two possibilities, for that now. Let's say we came up here and. Logically. We would go to where the same price level is and. That. Would bring us here. So. Let's connect these two price. Levels. Here. -, here. Now. We could also. Connect. It here. And. There's. A reason there's. A good reason for doing that and I'll show you guys, that. Would be if we broke the price level that we're currently. These. Damn colors. Paintbrush. Okay. So. Now. So. We're either retracing. This area here. Or. This, one here. Right. And that's the way I like to think about it because. I. Mean, it's just obvious, that we're retracing, our previous, bottom you know this is a fractal pattern we're doing these fractal patterns all the time we did it again we. Sort of did it again here, right. But this is what we consider our official. Bottom you know we can connect to this area here. With. Either this one here or this one here, and so, it, just you know it makes sense.
To. Look to our previous, price action for what our current, price action is going to do so. What, I'm looking for right now is I'm asking myself are, we going, to break this level and. Are. We going to head down to, the next, level. And. So. That next level would take us down I believe to, about. 84. -. Or between, 80 384. Or. 80, between 83 50, and, 84. 50. Around about so. You. Can see it previously, when we came up and we we retraced, a few times, we. Came up we. Retraced, came. Up retraced again now, here's the two levels that we're looking at and, so. The, next time that we came up here we didn't go back too, far we I'd say we retraced, about halfway, through the, previous, run. Down, now. Let's. See. The. Only thing about this side. Of the run-up is we haven't this is our first dramatic, retracement. On the right side of this cup. It's, a little bit. It's. A little different than the last bottom, we had because last time we had several retracements. Along the way and, it, was a pretty healthy run-up, this. Time, this. Time we had one here, but. That. Was when we topped at. 87. 78, and then, we came down to 82, 43. But. You. Know ever since then we went on a really big, we. Went on a bit really big run-up with, not too much downside there's, a little little, retracement. Here. But. This is our first major retracement. It's kind of weird right. I was, expecting, us to pull. Back several times though. We didn't. But. I think what's happening here at this level is definitely, healthy I mean it's it's nothing different, than what we experienced, before so, you know people talking about this hole by. Nantz thing. You. Know it doesn't really mean much to me finance, and, exchange gets, threatened, you. Know you guys, really think by Nance is going anywhere come. On I mean, by Nance is I'm, sure, that if something, happens over in Japan you. Know what's what's my dad's gonna do what do you do when. Your company, when. When the country are operating, your company in your, multi-million. Dollar company. Or however much they make. When. The country you're operating in says you can't operate here anymore well. You move to another country right. At. Least that's what I would do I wouldn't, what are they gonna just shut close, the doors no and it's an online business too you know it's, not like they have some massive, storefront. Presence, and in Japan, right. We're, talking about data centers here they, could move their entire operations. To a you, know new hosting, anywhere, in the world, you. Know sign over some signed some documents. Incorporating. Somewhere else and off you go. Let's. See, BB. BB. Says my, FBI agent, says to invest in mining rigs. Kevin. Riley says couldn't, this also be retracing, the way down, to the bottom. Yes. It could. So. It's. All it's all a difference. In perspective, right so the. Way I'm looking at it is okay. I was expecting, us to have a, lower. Bottom, than we had but. Because, we because. We came up as much as we did, basically. I'm, thinking, to myself that. We're. Probably not, going to have. Another, bottom, right. I mean. Looking. At the chart would. You say that that. We had our bottom our double, bottom already I mean that's what it looks like. For. Us to come down again so, if we were to come down again it. Would get I think it would get really ugly you. Know and I, don't think it's gonna happen so. If we, came down again. After. All this, sort of after. Having all this and this retracement. And all this I wouldn't be expecting, you. Know I wouldn't be expecting this. You. Know if that were to happen I would be expecting more of something like, you. Know. I'd. Have to scroll the chart down longer just to show you what. That would, be like in my mind you. Know who knows like that's I. Don't. Think that's gonna happen guys. I'm. A lot more hopeful, for Bitcoin than that. But. Yeah it does look like we're retracing. And. That. We're on the right side of the cup. Pattern. So. What do you guys think I was so what do you guys think about where, we're currently at in this pattern. You. See. You. Should reverse your body to the right side of the screen so you don't block the chart. Okay. I'm sorry about that man I'll keep that in mind. The, point where you feel like you, were gonna throw up, when. Is. When you load up I like. That Joe. Do. You think Bitcoin cash has been performing, good in relation to Bitcoin says. Anton, I haven't, really been paying attention to Bitcoin cash but we can definitely take a look at it today. Let's. See best. Hatta, says. Best. Support, at eighty four ten. DVD. BNN, says these whales need to take profit, it will go to 10k in the next ten days. Let's. See who. Else who. Else has a good point of view. The.
Crypto Analyst says are you going to have a private channel after Nayeem, gets back I'm. Gonna continue to contribute. Here on snipers, tube so. The, way, that things are supposed to the, way the things they're supposed to develop moving forward with snipers tube is that. So, Nayeem is still going to do videos and everything, but. What we're gonna have is a team of content, creators, that, have multiple shows and. Multiple. Segments, per shows we're. In the middle of trying to expand all that stuff and bring new. Content, but. Yeah so I'll still be around and, I do have a private channel I just haven't had, it I'm gonna be posting stuff in my private channel as well I just, haven't had a chance to finish. I need to like do my intro. Clip. For. My videos and then I have a whole bunch of content I'm going to upload there as well but. I'm gonna continue to be a. Contributor. To the snipers tube and there are some other people coming in as well to help us out. What's. The plan of attack to. Support our Bitcoin. Says. Marcus, alright so let's get into some of that stuff oh. And. So my point, though was that right now. I'm short, on, Bitcoin, I'm. Shorting, Bitcoin rather. But. I would look for a turnaround pretty soon if not at, this level then, between. 80 380. 400 and. And. I do believe we're going to continue to climb out, of. This, Cup. Pretty. Soon. Okay. So. A plan, of attack so, that basically that's my short-term plan of attack and how. I'm handling it right now it. Actually looks like we have a bit of a price increase. Right. Now at, this moment. So. Let's take a look at that let's zoom in. I've. Got a little bit of green there you know I still think it probably will go to the next level but we'll see what happens. But but, this episode is also supposed to be about. You. Know developing. Your crypto, trading strategy, and everyone's, strategy, is probably going to be a little bit different. But. There. Are some definitely. Some guidelines that that. You can follow to develop, a successful strategy. So. I've got a few things to to, run through as far as that goes, and I'd. Say the first thing about developing. Your crypto strategy, would probably, be, knowing. The market and just. Researching, what, you're investing in, even.
If You don't care that much about the product right so. You, know there are a lot of coins that I have invested, money into that. You know I didn't I don't really didn't really care about the products, you know whether or not they succeeded, but. In that. Moment obviously. I wanted them to succeed, and their. Success. Dictated. The success of my trade to. An extent, right, so fundamentals. They are important, and, so. That would be the first thing I would suggest, about. Forming a strategy for, trading crypto, would. Be know the market, know. What you're investing in and. Get. To know the. Coins that you're putting, money into because. If you don't you. Might miss something that's just, blatantly. Obvious. Excuse. Me. And. Maybe. You'll maybe, if you do a little bit of that research, you'll. Find. You'll. Find out you'll realize something that other people have missed okay. So that's a pretty simple one the, next is another simple one keep your eye on the news and subscribe to alerts, keep. Your eye on you, know Google News there's, all kinds of crypto news twitter, is really important, we have this thing now called crypto, Twitter and. No that's not a that's not, a different website it just means all the people who. Post about crypto on Twitter, I'm one of those people and if, you'd like to subscribe to my Twitter. Feed it's at tensor, Tom and so. I like I'm you know I'm pretty. Frequently. Posting, good stuff on there and there are a lot of other, you. Know influencers. I guess you could say on Twitter for in the, crypto space, so. That's another thing you know keep, your eye on the news because news will move the market and that's. A pretty obvious one the next one is. Let's. See I would. Say that I would say use tools, that work, so. Let's let's. Talk about some of the tools that we have at our, disposal and, news, is one of those tools right. The. Last thing that I just mentioned, and. For. That matter actually snipers, tube is a really good resource for alerts, for instance our. Subscribers. So we do have a paid. Subscribers. At snipers tube that puts. Out alerts daily, for. You, know all kinds of coins and icos and all that good stuff and it's a really good value so, that's one resource. But. But use tools that work snipers tube that's a tool that works let's. Talk about some of the indicators that work though because, and, some, trading resources, that works they. Work so. Definitely. You should have a trading, view account that's. A free tool, and. I. Would. Say get a paid trading. View membership. Because it's definitely worth it to have. When. You have a paid tradingview membership, basically, it allows you to. It. Allows you to use, several. Indicators, at once depending. On which plan you have, dictates. How many. Indicators, you can use I, have. The highest tier. Plan on trading view because a lot. Of times I make some crazy charts, obviously. But. So, yeah trading views important in, this industry I would, say and, it's probably the best charting system now. Let's, run through a few. Indicators. That work because not all indicators, are created equal and, I. Think the best ones, well, I'll tell you what the best one what I think the best ones are so the. First one first and foremost I would say is the, eg, moku cloud system. It's. The first. It's. The first indicator, that I learned inside, and out and. It's. Really helpful to me so. Let. Me I'm, gonna go ahead and load up. One. Of the. Ichimoku. Cloud, charts, so here's my here's the basic chart that that, I trade, off of that. I'm trading off of every day and.
It's. A little bit more, calm my charts a little bit more complicated than just Ichi, moku, right but, that's, basically what all this is it's all based on Ichi moku right so, here. You can see the main chart. The. Main cloud and this. Is my Ichi moku enhanced. For Ichi, moku enhanced for crypto indicator. And that's. Free on trading view all these indicators are free Ichi. Moku, is a time-tested. Indicator. That it just works and, it works great, so. That's one I would. Say that there. Are few, so let me just show you what. This chart what. Indicators I'm using on this chart, so. There's eg moku cloud enhanced for crypto I'm, using, Ichimoku, and, DD Bollinger, Bands. I'm, using a. Session. Volume. I'm. Using fractal, support, and resistance, I'm, using, mag Magnus. Cycles. I'm. Using Ichimoku, cloud, cloud, signal, scorer I'm. Using TTM, squeeze I'm. Using. Wikked and I'm, using the polarized, fractal, efficiency, now you don't need all this stuff obviously. I, kind, of get a little crazy with it you know you, don't need to have five oscillators, up on the bottom of your screen, but. There but, I'll tell you that I'll, tell you a few that are, pretty handy so this. If you're gonna pick an ax if I were to pick one oscillator, out of all these it. Would probably be. Magnus. Cycles, it's the one on the top ma, G and us. Okay. And this, is like a combination of, moving. Average. It's. A combination of a movie, moving average and the Williams, percent. Are and. You. Can see how it gives, you a good indication of. Momentum. Shifts. So. I use that to sort of help me, with. The, way. I use, it to help me confirm, what's, happening in eg moku. So. You can see here. I'm. On, you, can go as far as down as the five-minute, chart but I wouldn't go any further down I probably. Stay a little higher though but just. Showing you like as far down as you can go and it'll still work out good you can, see for instance right here where. It. Is shifted, the background, color of this indicator, has shifted from, blue. To purple, so, it, was telling you that it's in sort of a bullish mode. Here but, then it shifts, to. Purple, which, is it's a bearish. Indication. But. What's important, about that is, that it, does it before the price takes. A big, downturn, so. It gave us an indication that, we needed to go short and it, did it, it. Did it ahead of time so you. Know and it does this, consistently. It consistently, will give you a. Signal. Where. Other. Indicators, would have wouldn't, have given you one until this this big drop had already occurred, or, this big run-up had already occurred, so, that's been a real big help to me. We. Have all, these these little red, and blue dots here this. Is the fractal, support and resistance, one, of the most important, things that you can know about the. Chart is, where. Your support, and resistance lines are so, that's the called that's the fractal support and resistance, and there are whole methods, devoted, to trading. Fractal. Levels, and, I'm not going to get into those right now but they do exist and they're. Really good to trade off off of. This. Is my session volume. These, are this is these white lines here that's what's called a point of control. So. I turn off most of the session volume and. Information. Even. Though all of its really helpful but. That's. If I'm wanting to do a whole volume profile, on the chart but what, I like to keep on the chart from like, 100 percent of the time it's just the point of complaints, of control, but. That that could stems from the volume. Profile. But. You don't need to have that all the time. Let's, see what else do we have this. This, indicator. Here called, wikked wi, cked, just, all it does is show you the size of the wicks and. That's that's, pretty nice, this. Is the eg moku cloud signal, score that's. Sort of a score of the. Sentiment, ichi moku is is giving, you, alright, polarized. Fractal efficiency I'm not going to get into all these but. They. Are. They. Are oscillators, they are indicators. That work. Right. It's important, to have what works. Okay, and those are some some ones that work anything-anything the ichi moku, is probably going to work Magnus. Cycles, is going, to work it's. Important to know your support and resistance, levels that's, something that works so. The point is. Just make sure that you're using something that works and not some wacky. Long. Hair short their strategy. That, repaints. A million times and gives you some messed up stuff and. Once you find something that works. Stick. To it that. Would be that. Would be the next little piece of advice is, find. Some find a setup that works sticked. And then stick to it you know don't you don't have to try. Out 50. New indicators, every day. Stick. To find out what works and stick to it and what. Works is probably what, is. Popular. You. Know so. The. Next point of advice I would say is a really big one is know. Your entry and exit points.
Before. You place a trade. So. Before I place a trade I like, to ask myself a few questions and two, of those questions, are, basically. What. Price do I want to get in at and what price do, I want to get out at if I can't dancer those two questions then, I probably shouldn't be placing a trade and, that's. Always. Going to be the case and, so. You should have you should plotted. Before you placed a trade you should have plotted where. You think the price is going to go. How. Far you think it's going to move in one direction and, set. For yourself an. Entry, and exit point. All. Right now. See. The next next, advice I would give would be to back, test your. Strategy. And. You. Can do that with paper testing, and, our. Paper trading rather and, so. There are a few resources, for, that there are exchanges, you can go in and like play trade on without using, actual money and I'm, going to show you one of those in a minute another really. Handy. Resource is the trading view. The. Trading view replay, tool so, if you're not sure how an indicator is going to work. How. It's going to play out trading. Then. Or, as the chart progresses, you don't want to wait around. To see what's going to happen next you, can just hit this replay button on trading, view and take. Take. The price back to a previous, point in history and then. Just hit play and. It's. Going to show you what, happened. You. Can fast-forward it you can make it go faster, slower. So. That's a really great resource, for testing, and testing. Your indicators, testing. Strategies, and, it's. It's really it's great, so. My. Next bit of advice. Would. Be if it, doesn't work don't use it or don't do it, so. That's pretty self-explanatory right, if it doesn't work you. Know throw it away. Simple. As that. Whichever, plan you develop stick. To it we've kind of already kind. Of already went over that I guess with the indicators. You. Know stick to what works. And. Then. So. That sort of brings me to my next bit. Of advice which is you should definitely. Take. All of your emotions, out of the trade just just, check your emotions at the door. This. Sort of goes back to sticking. To the plan. You. Know. Emotional. Trading will. Will. Get you to lose you'll incur losses if, you. If, you become. An emotional trader. That's, how that's, how the market will, chew you up and spit you out so. Basically. You. You can't, let. The. Price get to you. It's. It's. Really key, and there are actually indicators, that have been built that. Are designed to. Take. The emotion out of the trade in, fact one of the paid indicators, that I subscribe, to you for a long time is called stock genie, and it's. A very interesting, indicator. It's sort of like it. Basically turns the chart into a video game-like thing. And. It has some really good indicators, too. But. Definitely you definitely don't want to be emotional. It just goes back to sticking, to the plan where. Once. You find something that works you want to stick to it and you. Want to follow that strategy through. You. Want to follow all the rules of that strategy that you've developed for yourself and. You. Want to stick to those rules. Regardless. Of how, you feel, about you. Know what's happening, right now. What's, going on in the chart and, if. You don't do that then. What. Winds up happening is, you wind up taking a lot of loss right. You, get you, get scared about a position, your. Indicators, are telling you one thing your. Your. Mind is sort of spinning.
Its Wheels and telling you something, else and you take your position, out when you shouldn't have, you. Either at that point take less, profits, than you should have taken or you take a loss and so. Stick. To the what the indicators, tell you and. What. Your analysis, tells you and not. What your emotion, tells, you. All. Right and also I, should also mention that there are a few things a few indicators, that are designed specifically, to take your emotions out of the trade like that so, that's tough do anything that's a that paid indicator, that's, one of them. But there's another. It's. Not so, you have to have paid trading, view to use this one. But. You don't have to pay extra for it after, you have paid. Trading, view and that. Would be the. Renko. Candles. So. If I go ahead and I click Renko, here you'll, see that all my candles, have now changed they've. Switched to this. These. Blocks, right. And what. Renko, does is it's. It does a few things it smooths out the volatility. As we say but. It it also it's designed to keep you in the trade right it, basically. Instead. Of showing you all kinds of candles up down up down up down it. It. Shows you the trend more, than anything so like, right now we're. In a downtrend, we had a pullback. So but. Anywhere along here you would have stayed in a short, right you, would have been short this whole way. Down and you would have never got nothing out of that trade whereas. With the normal candles you might have looked at it a few times in middle I go where we've. Caught a little reversal, maybe, we're reversing Oh No. But you. Know with Renko you would have stayed in that trade and, it's. Really helpful for that, Hika. Naxi you. Don't have to pay trading beauty is hiked annachi and it has a very similar effect, so. Hiking Oishi candles, and I. Apologize for the purple but. Hiked, annachi candles, so, the purple that's, just meant to be green here. I'll change that for you guys. Okay. Yeah. Hey keno she does a very similar thing to Renko, Renko. In my opinion actually does it a little better. But. It. Can help you a lot to, hike. Annachi it, shows you momentum, which. Way that momentum, is going at any given point in time so. Right now the momentum is to the upside we're. Having a bit, of a short term momentum to, the upside and. After. This long period of downside so Hika, know she would have kept you in the trade most of the time - and. Renko. Renko, just in my opinion does a bit of a better job of it but, hiking oh she's pretty good ok. And. Also. You. Know like this also these oscillators that I use for, instance this. This. Magnus. Cycles. You, know this will keep you in the trade - so let's, say that your strategy right. Now we're trading. Based on Magnus. Okay. So. From. With Magnus, I would, be short from, all the way up here right. I'd be short all the way down and even. Though there's a little pullback right, here even though or, a little run-up whatever you want to call it even, though these are a little run-up right here my, Magnus, is still telling me I need to be short okay, so. I'm not gonna pull that out you know I'm not going to pull that out I'm not gonna go long until. My strategy, tells me to do it and in, this case if I were, if I were just trading based on the, Magnus, cycles. That. Would not be along yet you know until this until. It tells me that the momentum is to the upside so. I'd, still be in that trade. This. Whole way through and that would be a spectacular, short. To be in. Right. Another. Lesson, important. For developing, your trading strategy, is.
Don't. Take more losses than, gains now. This is why ninety, ninety-five percent whatever it is of traders. Lose. Money rather, than make it because, they take more. Losses than gains, and. The reason they do that are for a lot of reasons, a lot, of the reasons that I just mentioned. But. The, main point of take less, losses, than gains is just. That we want to cut. Our cut, our losses quick, and leave. Our profits, running, as long, as possible right. So that sort of brings me to my next point which. Is don't. Don't. Let yourself bleed out a. Lot. Of people will say just. Huddle or. What's. The what's, the thing everyone the other thing everyone likes to say, some. Not huddle but just. Hold it or something like that I don't remember but. Basically. If if, the trade moves against me and I. Made a bad decision I, realized I had made a bad decision or. Or. Even you know even if you didn't just because the trick just because the trend moves against you and, didn't make it doesn't mean you made a wrong decision, but. When. The trend shifts against your trade, you. Should get out of it if you don't believe that the, trend is still in your favor if you don't believe the momentum, is still, in your favor you shouldn't be in the trade. Because. There's, no such thing as. Acceptable. Except. Acceptable, loss that you hadn't planned on to begin with right. So. If I'm in a trade right here let's, say I get into a short, right. Here. And the price moves. Against me a few dollars or like 20 dollars or something just, because of this one candle, fluctuating, a bit you, know I expect, that to happen I'm not gonna pull the trade out because of that but. If if. The momentum begins. To shift if, all the sudden if I'm expecting, a drop at this very moment and then, the momentum shifts, all of a sudden this red, candle flips up and turns into a green one that's. Some and that's something I wasn't expecting. I'm, gonna go ahead and I'm gonna pull that out really quick or. I'm already gonna have a stoploss there in place that's gonna do it for me because. I'm not gonna watch my own money. Bleed, out in front of my own in, front of my eyes. Now. On the flip side of that. Let's. Say the trade goes in my favour. You. Know I haven't shortened, up here BAM, the price drops and. Then. I see the price run, up a little bit I'm not gonna get out of that trade unless I believe the overall trend is shift to the upside, because. If I do that, then. I've just I've, sold, myself short you know the. Price continues to drop and I miss out on all these profits, here that I could have been taking and there's. No point in doing that. So. And. You know just develop your own strategy, nobody, nobody, else's strategy, is gonna. Work for you you'll develop your own but. As long as you follow sort. Of follow all these guidelines. Then. It. Should work out for you as long as you stick to it you know you really got it you really have to stick to your. Strategy, and and. Don't waver from it because of emotions, or what, somebody else says in a chat room, or. On a voice chat or anything like that stick. To what you. Have, strategized. To be, profitable. Especially. If you've tested, it and it works, you. Know I I. Hadn't. That's, another one too as a another. Good piece of advice for your strategy is don't listen don't. Let other people talk you out of your strategy, I see. That happen all the time on discord. Where. Somebody, will they'll. Develop a good strategy. And they. Will, they'll. Hear somebody say but the, Elliot wave count looks, like it's this or you. Know I. Just. Saw some divergence happen. Here, and then, they they, reverse. Their, decision and. Then. They take a loss and. You. Know it's nobody's fault but theirs because. They didn't stick to their they. Didn't stick to what they knew to be. Correct. And. Usually. Your your, gut. Feeling is going to be more. Correct than what. You hear someone say in a, chat room even, though you know our discord is a wonderful, place and you.
Get A lot of great people, there who, are helping, and. You. Know a lot of great information great, calls people. Making money, all. The time on the calls that are made there but just, you know don't. Let it don't, let it get to you basically is what I'm saying you. Know if, you, if you hear someone say something about, the. The direction, or momentum, or something like that you. Know check it out for yourself first don't just react and pull, your position out really quick because of that you know you, should you should verify it first you know what do you think about it not what does somebody else think about it. Alright. So. That. Pretty much does. It for the, you, know coming up with your own. Strategy. I, think, at this point let me let me see what everybody's saying in the chat real. Quick, I'm. Sure you guys are probably going to have a few requests for me right. Got. To do requests, I haven't. Done any yet but I, will do it. Okay. You, TC USD. Calmly. Says. DVD. Says, it's, been 2x since January another 2x at least. Okay. Yes can you believe that 10k then back that's, what you guys are talking about in here right now but okay. A true bro no but no one else's strategy works, for. You. I. Mean. You can't it you can definitely gain, knowledge from other people's you. Know, techniques. And everything I mean oh I'm caught we're constantly learning from each other on the discord. But. You know just stick. To your strategy. That you develop. The. Whales were the whales were buying your. Cheap shorted, coins, DVD. Said that bit, ago. Let's. See. And. Probably. About two more requests theta, I've, never even heard of theta. Carlos, says what timeframes you look at when you use Ichimoku. Mostly. I'm looking, at the, I'm. Looking at everything from you, know five. Minutes up but, basically, what. I'm trading off of though is usually. At least fifteen minutes or more what, I'm making my my. Entry positions, on based, on like and I have a 24, minute it's. A. Time. That I made here that, I like to use a lot I sort, of like to think of each minute as like an hour of the day kind of. But. You can use Ichimoku, works on just about any timeframe and, of. Course I'm looking at the higher time frames to see what you, know what kind of trend shifts or maybe in-store. And. That sort of thing all. Right let me get my let. Me get my list going so I can do a few so theta I've never heard of theta. Eng. Let's. Also do. Let's. Take a look at litecoin. Let's. Take a look at, syndicator. Take a look at. Cerium. Aetherium, classic. I. See. X cos. BTX. Storm. In, cash. Of course. You. Had a million people who want to see em cash. TRX. Lend. I. Used. To be invested, in lend I. Wonder. What it's up to of these days XR. P. Po. We, already got TRX on the list. Nano. STX. Never, heard of it, Nebel. OMG. Neo. I. Think. I already got a NJ NJ. I'll, put it down just in case I. OST. That's. A recently added one by Nets I think. Etn, link. Now. This is a big list you guys are having me make a DA. Nulls. What. Else you guys got this. Is pretty big Ziyi. See. All. Right then. How. Would I just go through every, coin on on vine it's Ont. A, lot. Of time for that be. And be. Timeless. Being says how do you interpret these Ichimoku, clouds, I, did a live stream on that earlier, but, it's not it's, not up still. It's not uploaded, anymore I'm. Going, to just I only need to do is apply a. Intro. To. It and then. I, can. Upload all kinds of all, kinds of videos that I've been working on I, think I already got us I, got. I got a theory I'm, a. If, anybody on here is a is. A. Adobe. After, Effects Pro. Hit. Me up on the discord, I, could use a hand with some After Effects I suppose just, like, I got a. Intro. I'm, doing an intro for my because. I have a personal channel as well so there are some certain videos that don't really fit for the snipers Tube channel that, I'm gonna I'm gonna upload there so. I, just want to get my intro done. I actually made an, intro you. Guys want to hear the intro song. Alright. And it's not really a song it's, just some a short, clip here. Hold. On. Here. Tell me you guys tell me what you think of this alright. This. Is what I need to make an animation for. Creep. Felt raving with tensor, Tom. And. So. That's going to be my intro. Track, that. I need to I need an animation for, sorry. If I just sort of. Blasted. Your speakers, I hope it wasn't too loud. Good. Track but don't. Love the voice. Yeah. It was just the text-to-speech thing, I did. Whatever. Omar. Says that intro music is exact opposite, of your, personality. Yeah. I don't well. So. Like I'm doing trading videos right now right and, you. Know it's, like finance stuff but. Actually. So. I'm. Also an EDM, I'm. Really good at producing EDM, music and I, was, actually an.
Electro, House DJ, for. A very long time I used, to I used to spin in Chicago. A lot and even. Down here in Miami some I just. Been, working so much the, past couple years I haven't really had time for it but. It's. One of my favorite, things. Yes. Electro, house is nice thanks. Fernando I. Lecture. A house and. Complextro. It's. Much better than dubstep. The. Only reason I used that track, was because it's, like a royalty-free, one that I found. But. Anyway, where were we oh the. Altcoins. Okay. So. Okay. We have a big list here I doubt that I'll be able to get to all these on the list. If there's. One that you really want me to analyze, and. I'm it looks like I'm not gonna have time just shoot. A super chat because those will go before any other coin if. It's, a super chat request, so. Let me go ahead I'll start with. Let's. See what we got here, Oh. So. The first one that we should do is let me go ahead and generate my my. AI predictor. So. I'll. Do that oh and, another thing that I, almost, totally forgot one of the main topics of this episode, is. Also, if. You caught it and caught us from the beginning was. How, to short Bitcoin. So I'm gonna get into that too or short. Any coin that you're able to margin, trade so, I'm gonna get into that as well I have, a test, net account, up here. As you. Can see so. This is this is a margin, trading account, actually and you, can see that we have a number, of coins available to us up here of course. Bitcoin, and, several. Others. But. Let me go ahead and generate the AI predictor, for today before we move on to that and also. Analyzing. Some of these alts. Alright, so let me jump into. My. Code. I. Always. Run them on the spot for you guys because I, want. It to be as up-to-date as possible. Otherwise. I would just. Do. It beforehand. So. Alright, Jupiter. Notebook. All. Right Jupiter notebook is running. And. Go. Ahead and access that. All. Right now the. AI, is, doing, its thing. And. That. Will just take just.
A, Few seconds, several seconds that'll be done. And. Then. We will have our AI our. Bitcoin, AI forecast. For. Today. All. Right it's done and. What. Do you guys think it's going to be what do you think the AI says. About today's, about. The the, price of Bitcoin Oh. That's cheating if you saw that oh. No. I got a screenshot it. Maybe. I should start doing a contest. For. With, some kind of prize for whoever can guess what the AI is is, thinking, because. I don't know what what it's going to do. Neural. Networks are a black box, for. The most part. Okay. So here's, today's, Bitcoin. AI prediction. Chart. And. Let. Me move out of the way a little bit so you can see the price part of it. What. Do you guys think about that. Now. Of course you should always take. You. Know take it with a grain of salt, but. You. Know it, has actually, been pretty, accurate. If, you go onto my Twitter at tensor, Tom and you, look at all the previous charts, that I posted, and when, I posted him posted, them it. Was pretty good about you, know what. Was going to come up next right, it, did. There was a point recently where, it had us going lower than this I know that but. It's, been it's been pretty good and a, good, resource for. For. Snipers. Tube viewers. All. Right so, chart. Is looking bullish says Steve Chavez. Brazel. Says down to seven eight hundred david, says eighty three hundred, these. Were the guesses. From. What I asked a minute ago everything. Crypto said down to 82 so. Yeah it has us going up from, here to. $14,000. Believe. It or not or maybe even even. Higher than that if I were to project, this out further. So. Wow. You know what that's, crazy right the prices going down right now but. The AI says, we're going up so. That's interesting, very. Interesting. All. Right let me look up a couple of alts, really quick and. Then we'll move on to shorting. The market how. To short the market and why. You would want to do such a thing. Okay. So let's, check out let, me go let's open up a new chart. Well. We don't need a new layout all, right will. Do. Where's. The list okay. I've. Never heard of theta if. It's on trading view all check it out no. We don't have it so. Eng. I'm. Pretty sure that's here. Enigma. Wow. That's a strange, chart. Very. Strange chart what is going on here. What. Look. At this wick. My. Goodness. Guys. What did you have me to look up. Why. Is it why is this wick here like this. Who. Did this. Wow. That. Is one, wick. Interesting. So. Anyway, right. Now all, right now Eng. It. I. Would. Say Eng. Is. Well. It was looking pretty bearish. But. We have a giant. Well. We have a few choice. We. Have a few choice words, that. We call this sort of candle in the discord, every, now and then but. So. Right now, Ian see. This is the our chart, yeah. So right now it actually looks pretty bullish, I mean this is a this. Is bullish, sentiment. And. A candlestick if I've ever seen it it. Looks like the, price is running up right now as we. Speak and we, have let. Me get down a little further down and see what's going on here. Yeah. It's pretty bullish, let, me bring up my regular. Ichimoku so I can give. You some better analysis. Angie. Okay. Yeah. So. So. Yeah, like I said I was looking pretty bearish, and then. We. Had this run up here this, little explosion. Happened. It. Could still wind up turning. Bearish. We're. Gonna have to you have to keep an eye on this I wouldn't, if I were looking, at this if I were looking to trade this right now I actually, probably, wouldn't. Get. Into this at this point just because of what just happened here it's a kind. Of crazy thing to happen you want to wait for an actual trend. To, develop. And. Get, started, rather. Than. You. Know just jumping, into. Well. Then. Again if I were going if I were trading on a shorter, time scale I. Might. Have see I would have been in a long since. Back, here actually so, you. Know what. How. Many people are trading, how. Many people are trading Eng right now. Is. Anybody long on Eng. Amy. Says looks like a trap. Yeah. It could very well be but. It does still look bullish, though. You. Know I would definitely would exercise caution make sure you place your stops if you're, in on this and just, keep moving those stops up as you go.
That's. How I that's, how I one of the things I do to manage my risk. But. It does look it does look pretty bullish, and here in the short-term, if. You're looking to get into a. Ng, and you haven't done it yet. I. Would, say let's, see the 15-minute just turned bullish, on my oscillator, here. The. 24 didn't. Yet though I'm, pretty sure yeah. So. Like. I said it still looks pretty bullish. But. It's always a risk the. Longer something is run up you. Know you don't want to FOMO into something. If. You were in a to, get in on Eng you should have probably already been in it on it since back here. And. If you missed out on this one, you, know let's see what is the price. 2000. Satoshi's. Mm-hmm. Well. Point. Zero zero zero. Two. So. What is that. A. Dollar. 72. Yeah. Okay. Interesting. I wonder what sent the price up, yeah. I mean this is a bullish pattern right here for, sure so, it probably still has some gas left in it. But. I you, know I'm not I'm. Not I will never tell someone to just FOMO into a chart but. It. Does look good. Anyway. There are plenty of opportunities in the market you know just. Because this is running up you, you don't if, you're, someone. Who has just. Been looking for things that are in the middle of pumping, it's. Just a bad bad, strategy we just had a whole session on developing, a strategy and that's a bad one you. Know there are plenty of opportunities that don't, include something, that has, already started pumping. Right. And. You. Know if, if, you're thinking about if. You're thinking about Eng, right now how. About this rather than get into this pump. Here how. About you, start using an indicator, that you've never used before how, about you start using. How. About you start using them the Magnus, cycles, right. Which is going to give you an indication of, trend. Prior. To the trend actually taking off and then, you can get these kind of profits, these. Same sorts. Of profits, without having to jump, into something that's already started, taking off and and. Then you'll have a good, solid strategy, behind. Behind. Your moves learn. Each emo coup you know, do. Stick, to a strategy that's going to help you out and not just. Pumps. Yeah. You should never just, jump into a pump just because it's pumping you. Should never jump into it at all really all, right we, I think we had a super chat and I, believe it was in cash let me make. Sure that was the first one yeah that was in cash and that. Was by, a silver. Jaguar. Thank. You silver Jaguar I will. Do n cash.
Next, Assuming, that no one else was before, you and no one else was, on. The super chats so. Let's go ahead and do n cash. Okay. So, in. Cash. Was. In the middle of this downward, momentum. Here. And. It, looks like it recently, had. An upturn. Let's. See if we can trust it oh it looks like n cash is reacting, the same as you, know I've got Bitcoin who's going up right now I bet that's what's happening isn't it, yeah. There's a little turnaround on Bitcoin right now no big deal n cash. Is pumping. Just. Like, the. Last thing that we looked at so. I. Can. Get on the 15-minute. Okay. I mean. It's still in this downward Channel. And. I. Still have this support and resistance that I drew out on this thing probably like a week ago. Looks. Like we're cutting through a lot of this now though. Alright. So I would. Say that n cash. Let's. See we came up through here. I. Had. A rundown. Across. This let me bring up my. Regular. Regular. Clouds here. Okay. In, cash. We. Had a, coup mo twist to the downside, here took us way down. This. Isn't like a 5-minute though. Yeah. Another kuhmo twist is the 15 let's. Just do the 30 just to get, a clearer picture okay, so, we have a coup mo twist to the downside. Actually. We're going to have to zoom in a bit to, try. To make a better prediction, we. Came down through this green, cloud here, typically. Especially when you see a candle. Come. Up like this or, you see the trend start to turn. Bullish, a lot, of times what happens is you're. Gonna see you're going to come up through a Red Cloud like this you're going to come down through the green then, you're probably going to come up through another red. Where. You do that though that usually happens at. The. Last. Half of a cloud right. CET. Moku, clouds aren't just for, looking, at when the lines cross, or. You. Know when, the sink you span lines cross, or. The tanken and the kangan you, can also use them for wave. Counts, so. You. Know you. Can that's, a whole another video in itself though but, basically. What. I'd be looking for here is is. In cash going, to go, up and try to, is. It gonna cross this this, line here this, Ken. Johnson this blue line so, that Ken Johnson right now is at three hundred and eighty six Satoshi's, and I. Would expect the price to try to return to that, that. That line. Just. Just, briefly, though I you, know it doesn't have to stay there see, the price always wants to return to equilibrium and. Returning. To that that, Ken Johnson line at three hundred and eighty six satoshis that's. Where the equilibrium is that right now but it only has to do that momentarily, before you. Know heading, back down so. You. Know this could be a very short-term. Correction. Here for. Any cash, like. I said typically what you'd be looking at is the price to cross the cloud on the other side over here somewhere maybe. Even a little further out. So. Yeah be careful on in cash if you're, thinking that it's reversing, here I'd wait for some confirmation if. It passes this line here at 386. Satoshi's and, that. Closes some candles on the other side of it maybe.
Heads Up here. Towards. The cloud and, maybe. Breaks a level, especially. If it crosses the cloud at, 397. Satoshi's then I would start to think okay maybe the trend is reversing. But. But until it's across this cloud, and. Then, come through the other side of it, depending on what time it does this either, at. 396. Satoshi's or. 400. Satoshis i would, still consider it to be in. This downward Channel, and. This, downward trend so. Those are your price points to look out for for. N cash. First, once. Again first at 386. Satoshi's, then. Another. Level to look at would be 397. Satoshi's and then, finally, 400. Satoshi's. To. Finally break out of that downward, trend. And, for the moment I would. I would be short on it until that, happens. Alright, so let's move on to, you. Know what let's go ahead and do a little bit of margin. Trading first. Before we move on to another coin I will get do it I will get a few more done if, you'd like to see your coin, done. Before the other any, of the others go, ahead and send those super. Chat requests, in let me see it make sure there aren't any other super or chats before I go ahead with this. Margin. Okay, good. And. Let, me see what's going on in the chat - real quick, psy, says thank you you're, very welcome. Who, else. Beebe, said Naeem, left snipers - that's not true, name. Is very. Much still. At sniper Stubbe and. He was just he was just online, was. It yesterday in the mastermind, session. Let's. See. What. About LTC. Says, straightway. I'll. Do I'll do the LTC, so, we're. Gonna go ahead and look at a lot of these coins - and, the margin account so don't. Worry. Thunderbird. Says bitcoin is bouncing, which lifts all coins, yes I'm, sure that's probably what just happened. Yeah. Took a little bounce here no big deal. Alright. All, right so let's go ahead and move on to the, next segment here. And. I'll try to keep it a little brief. But. So. Right now bitcoin, has been in sort of a downward momentum today, right. And I, think one, of the things I think it's really important, to do in a, downward momentum is, to. Know, how to make money in a downward, downward. Momentum. So. It's really important. To. Not only be able to take. Your money out of the market but. What's really important, to me is also. Being able to short, the market right. Because. If you can't short the market you can't effectively make money in a downtrend it's. Just not possible, you. Could try to scalp, the. Price but, that, is a terrible. Strategy trying. To get little Corrections. On the way down in a downtrend you should never do that. Silver. Jaguar says did you hear the finance flood news today. Yeah. I talked about that a little bit in the beginning of the stream. You. Know well, what I basically had to say about it was just that um I don't think my Nance is going anywhere regardless. Of what Japan decides to, enact. Upon them you, know it's an online business they, can operate out of any country, if they really want to. All. Right so. Let's. Move on to trading. On margin and shorting, the market very. Exciting. So. How, do you short the market what is shorting the market shorting. The market means, that, you. Are. Basically. Instead. Of instead. Of buying, into something or. Placing. A buy order basically, you're, placing a short, order where. In if, the market goes down, if the price goes down then. You get paid. Instead. Of when the price goes up right. So, this is a test account now. This is a bit mix testing testing. Test net account, that, I set up to do this and it.
Basically Lets you trade with, fake. Money I guess you could say it's, test. Nut money, so. On. Bit, Mex and I've, put so, there's a link to, bit Mex in the, description. Of this video and, if. You use. The referral, link in the description, of this video it, will give you a discount, on your trading fees add bit max and this. Is the. Most this. Is the most popular exchange, for, margin, trading, cryptocurrency. I believe. They have the most volume and. It's. Very very easy to use very nice interface and. Pretty. Much a Goodman, I think a good majority of us now here. At snipers tube on, the discord, are using. Bit. Mix in order to make money in the market now, there, there, are a lot of things about this, sort of exchange that. Makes. It so that that allows. You to make more money than you would on another, exchange so the first way like, I said is shorting, the market basically. Betting. That the price will go down instead of up that's, one way the other. Way is by using leverage, now. Leverage. Is, a. Can. It's not, too, complicated. And, before. You do any margin, trading you should definitely, understand. All. The ins and outs of it you should definitely use the test net first, because. You, can lose you, can make a lot more money using. A margin account but. You can also lose, a lot, of money using a margin account. Just. As just, as well as you can make a lot more and. So, with. With. Margin, trading. You. Have what's called leverage right so. Let's, say that I have, in, this test net account I have. One. Point zero seven. Bitcoin. In this margin account and, let's. Say I want, to. Look. What. Leverage basically, allows you to do is it. Allows you, to borrow money from the exchange, for, your positions. Okay. And it lets you do that using leverage, now. For. Instance let's. Let's. See it a. 1.07. Bitcoin, is. Maybe. Around. $9,000. Right. I think that's probably about right. Now. Using. Leverage I could, bet as much as or, I could trade rather as much, as. 90,000. So. I'm, sorry not ninety thousand nine hundred thousand, dollars. Basically. You, use what's when. You use leverage is sort of like multiplying. What, the position, that you put on the, books so. I could put a position right now. Nine. Hundred for, $900,000. Right. And all, that would cost me at a hundred X. Would. Be. About. Nine thousand, dollars Oh. It. Says I need to have one point nineteen, so, let's do. $80,000. Or. 800,000. Rather. Okay. So. $800,000. At 100x. Leverage. Only. Costs, me. 1.06. Bitcoin. Now. The. Thing about leverage, is when. You use leverage, the. More leverage you use the riskier, the. Position, is because, you have here what's called an, estimated. Liquidation, price and. The. Liquidation, price that's the price at which if the price moves against, you if the, price if if. Bitcoin, the price of Bitcoin reaches. This price my. Entire position that I put, will. Be liquidated. It will be lost. To me, now. So obviously, you don't want to use so 100x well, that that will, that.
Will Basically make it so that your liquidation, price is very close, to your buy-in, price right so we don't want to use 100x, we, want to do something a lot more safe and especially. When you're first are first. Starting out in margin trading you. Want to use a very low leverage. And. Don't, use cross because, cross uses the cross, is basically another way of saying 100x. I'm. Gonna get into cross right now but so, 1x if I were to use 1x, okay. That's, sort of like trading on on like by Nance right, 1x, means, 1 times my, quantity. Here. Okay, so, if I were to put. $1,000. At 1x, equals, $1,000. Right. And. Now. Shorting. The market like. I said before it means that you're saying, that the price will go down. Okay. So. Here. You can see let. Me get this out of the way and make the chart, a little bit bigger. All. Right so here you can see. Let's. Say because, we're in this Barrett, we've been in this sort, of decline, in price let's. Say well, that we thought the price was going to keep going down right. So. We might want to short the market at that point now. To short the market all we do is you. Know we can click here on the order book and. We. Can click. So, if we're going to short we'd and let's say I wanted to take one of these orders off the books I, would. Click the most recent one. But let's. Go ahead and try to make some money now. Why. Do I let's. Try and make some money just by placing an order what I mean by that is the. Bit max exchange, will actually, will. Actually pay you to short, the market. So. They. Will pay you one percent, extra money every eight hours just, to short the market that's pretty that's pretty good right if you, could make one percent. Just. For having an order on the books, every. Eight hours that's that's pretty great so imagine if you had. You. Know imagine you had a hundred Bitcoin, order. On the books and. So. Basically every, eight hours. Bit. Max will pay you if you have a short open every, eight hours they will pay you, one. Bitcoin if you had a if you had an order worth a hundred bitcoins. All. Right so I'm. Gonna place an order on the books now and. Now. They also operate off, of a maker taker model right. I'm sure a lot of people I'm sure a lot of you know what that means, it basically means if you're a maker if you're providing liquidity to. The exchange. You're. You're, not going to pay a fee if you're, a taker if you're, taking liquidity, off the books then, you're paying more of a fee so. That max will actually pay you to be, a maker which, you know you can make money being a maker and, if. You're, shorting the market if you're if you're short they'll, pay you that 1% every every, eight hours. But, anyways let's go ahead and take an order off the books short, let's go short. You. Know let's say we're we, think the markets gonna we think bitcoins gonna keep. Going down its gonna hit another lower. Price, you know eighty three hundred eighty four or something like that who who knows, let's. Take an order. Sell. Oh wait. Let me let me run that let me run through that one more time for you guys I was fast alright so you click you. Put your quantity, here a thousand. Dollars worth of. Contracts. I have. The price that I want to put, my. Order on for, and then, I hit sell, short so. Then it gives me the details, of the contract okay, so here's the order value.
Here's. The cost. Zero. Point one Bitcoin. Here's. My available balance my. Position, size the. Mark price I'll get into what that is in a minute my. Estimated liquidation, price you can see my estimated liquidation, price is just. A price. That will never occur. Because I'm only using one X remember how I said the, more leverage you use the, riskier it is you. Know the closer the liquidation price is going to be to your buy-in price well. Because. I only used one X rather. Than you, know 2 3 5 10, 25, 50 100 because. I only used one. It's. The, risk of liquidation, is just. Pretty much non-existent right, you know this. Is a crazy number, alright, and. The look the difference between my liquidation, price of my buying price here is 19, thousand, eight, hundred and forty eight percent alright. Let's. Go ahead and hit sell. Alright. And, it's, already filled my order. Okay. And it looks like it still has some from the previous order, so. Right now I have a position. Size of one. Thousand, five hundred and twenty five dollars. And. It. Gives you your your, profit, your. Your. Realized. Profit, unrealized, profit. And as, soon as this price drops right, if, it drops you. Know I haven't really done much ta here to make, the to, do this position, I'm, just doing it for the sake of showing you guys how to use the exchange. As. Soon, as this price drops this, this is gonna turn green and it's going to show me my profit. Here. Okay. And, now. Right, now it's showing me, my. Estimated, profit. Based on the mark price now what's the mark price. The. Bit Maxie uses, and it. Uses, an. Index, exchange, I think it's Polonia --xx and. The. Way that it works is a lot. Of the functionality. Of bit Mex uses. What's, called the mark price, to. Do several things so there's, this thing called the liquidation, engine, and the, liquidation engine, just basically decides. When. Positions. Need to be liquidated and it. In, order to do that it uses. The, index of Polonius the, price of Bitcoin on Polonia acts as sort. Of like you. Know an index to know where. The price might be headed within the next whatever. Several. Moments. The. Market price is always here on the chart, and the. Mark price is also shown down here with your position, right. Next to the entry price, so. Right now the market price is eight, thousand, six hundred and forty dollars my. Entry price is eight thousand six hundred twenty eight so. Looks like the price is going up a little bit our test. Net position you. Know is pretty much it still at zero. But. Anyway. So, what. It shows you by default here underneath unrealized, P&L. With. Is your. Profit, and loss based, on the mark price if you mouse over this, here it shows, you it, doesn't really care there's a really handy thing it, tells, you what. It. Tells you what your profit and loss would be if you. Were to exit, the position at, market, right, now based on what's on the books okay. So if I were to hit if, I were to hit market, here which will close my, position. Out with a market order. If I hover over this it'll that's, what my, profit. Or loss would be if, I were to do that now. I do recommend, close. The opening and closing your positions with, limit orders, and. Becoming, a maker that. Way you don't incur. The taker fee, okay. So. Basically that's how you short. So. You know, like I said if the price goes down from here I make, money, let, me show you how to do like a more high leverage, order. Real quick and one. Thing I should note is that even. Though. So I have a position open here and I, can increase. My leverage. On. An open position right. So, if I were to slide this, leverage. Bar over, from, 1x to. 10x. It. Would free up a, factor. Of 10 from. My position back, to my wallet. Balance for. Me to use on other positions. Ok, so. But. Let me close out this position I'll just close this one out at mark