The Only Crypto Trading Course You Will Ever Need | Go from Beginner to Pro in 45 minutes

The Only Crypto Trading Course You Will Ever Need | Go from Beginner to Pro in 45 minutes

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hi and welcome to another video. This video will be the only crypto trading course you will ever need to start your journey as a trader, I have made this video keeping beginners in my mind, you can skip past the topics that you think you have a clear understanding of using their timestamps Uh, so here are all the things that I be go through today. I have broken it down into seven main topics. So let's jump right into it. Basically.

The very basic thing we need to understand this what is actually meant by a cryptocurrency. So cryptocurrency is a digital or virtual currency that is built on a blockchain, which makes it impossible to counterfeit or doublespend. So when you hold a particular cryptocurrency, that information is stored on a blockchain. So for example, the currency Bitcoin is built on its own blockchain system. And an interesting fact about blockchain system is that you can build other currencies over a blockchain. So litecoin is built on the Bitcoin core system.

And. Doge coin is built over the litecoin system. And if you want to know what blockchain means. Blockchain is a system of recording information in such a way that makes it impossible to change hack or to cheat the system.

So all the crypto transaction that take place are stored on a particular blockchain. So now there are two types of blockchain you should know. One is more focused on the currency like Bitcoin, uh, and litecoin and others are smart contracts.

Like Ethereum, Binance, Caradano, Solana. What these blockchains allow is really quite interesting. Smart contract is a piece of code on a blockchain, which is precoded to execute when a condition is met. So when a transaction takes place on a smart contract, it is permanent and completely trackable and all this is possible without, uh, governing or regulating body.

And that is why there are so many applications of the blockchain system. Now when investing into a cryptocurrency, you might want to know what type of cryptocurrency it is. So there are a lot of factors we can categorize cryptocurrencies into, but usually we do it based on the utility. So there are a lot of types of tokens, currency tokens, security tokens, De-Fi Tokens exchange Tokens, privacy tokens, even stock tokens and some meme coins or shit tokens. So, Currency Tokens, uh, like Bitcoin, which are more focused on being a currency, then there are exchange tokens of particular exchanges, like Binance, Kucoin or Bybit. There are also stock tokens, which allow us to, to trade stocks with the help of cryptocurrency.

Um, so. Basically, there are many uses of each cryptocurrency. So you might want to know the cryptocurrency you're investing is useful for what? Um, that's about it. Now let's take a moment to understand Non-Fungible Tokens or NFT's they're basically pieces of art, like music, graphic illustrations, photos, videos that can be stored on a particular blockchain For example, the Ethereum blockchain or the Solano blockchain, and which allows you to take ownership of it. I won't go over trading NFTs in this video, but, uh, I will surely make one in the future.

Okay. Now this is something I struggled with when I started learning. Uh, so I just want to explain how tranferring crypto from your wallet looks like.

So for any currency are wallet holds, and yes every crypto is held on a wallet, may it be a cold wallet, like a ledger or a wallet on an exchange like Binance. So for that currency, we have a specific address, like a phone number when we venmo more people, for example. So when you transfer crypto to someone else or to another wallet, we need to enter the wallet address of the reciever correctly. Additionally, we might have to enter things like destination tag, memo, in cryptocurrencies, like XRP or XLM and then transfer the funds. And you also want to check that the receiver wallet accepts payment from the blockchain system you sent from, so let me give you one quick example for that so you understand it better. So here I'm trying to send some XRP from one wallet to another.

So what you will need to do. This is the receiver's end. You will have to see the address and the memo required to send the crypto.

So you will just copy this right here. Uh, and now we go to the end where the sender is sending. So right here, I'll just copy paste the address. Um, check if, this is the, uh, the Binance has a function where it automatically matches the network. But you want to check that this network right here, which is XRP, this is the network, which, uh, the receiver end should accept payment from this network.

That is what you want to check. So my wallet where I'm sending this crypto should accept from the network from the ripple network itself. Okay. Now that. We have copied the address. The next thing I will look for is a memo.

So I'll just copy. And then I just select the amount of crypto. I want to send and just withdraw it. That's it. So that is how a simple cryptocurrency transaction looks like, but you really want to check the network and the address you're sending it to double check it because crypto cannot really recovered easily.

It's practically impossible to, but there are some cases where it can be recovered. So you just wanted to check everything. Before you make a transaction. Crypto Transaction Now let's dive into Tokenomics.

Tokenomics is just info about a particular cryptocurrency, which we need to look into when finding an new investement. Uh, here is a list of all the websites I use. Okay. Now let's just head on to one of those websites from the list and you can see all of those cryptocurrencies right here. Let's choose any one of them. We can see all this info in front of them.

So I'll just, for info, I'll just click right here on Caradona , which is ADA. Now we can see a few things and do some easier to Tokenomics over here. So let's first see the circulating supply.

So what the cell circulating supply means is, um, this right here, the number 33.47 Billion ADA Is the amount of ADA that is currently being circulated in the market. And the max supply rigth here is I think around 45 billion, which is the Max amount of ADA, which can come into the market.

So this actually helps us recognize a good investment. So if, uh, if you see a coin with no max supply, which means there can be unlimited supply of that going, it's probably not a good investment, right. Um, we can see the volume traded in 24 hours right here. We can also see the market cap.

That is the. The total circulating supply of a particular coin, and you're going to see a whole lot of stuff right here, which can help you analyze. You can see the charts, you can see the price change in 24 hours. which is 1.07% and if we want some more info about the particular token. So let's say you want to learn more about Caradano. We Can just go ahead on to the website.

Which is right here, . Let's head on there. Okay. Now this website, uh, will give you more info about the particular token. So you can see what their aim is, what their roadmap is, what the utility of the token is and you can also check, which is, I think is important.

The distribution of the token. Meaning who holds what amount of that token? So I will not actually describe who holds ADA, but you can see it on any Token's website that you want to invest in. And just want to explain you that why this is, why tokenomics is needed when you choose an investment. Now let's take a look at some trading basics. Usually when trading crypto nowadays, you can easily just buy the amount of crypto you want directly with the credit card or debit card, but we need to learn what stable coins and trading pairs are.

So usually on any exchange, we need to buy stable coins with our fiat currencies like the dollar /Euro and fund, our account with the stable coins, and then we can trade them to buy other cryptocurrencies. Now, stable coins are just coins, which are pegged to be at a particular price, which makes them very less volatile. And they are usually backed by the old world asset, like commodity backed or fiat backed you can see a lot of examples I have given here. And most of these have exchange pairs with almost all the cryptocurrencies and that is why you need to first buy stable coins and then trade them with other cryptocurrencies. Let's take a look at what trading pairs are. Every trading pair has a base currency, which you are buying and of quote currency, which you spend to buy/sell the base currency.

So here in this BTC USD example, BTC is written first So that is the base currency. And USD is the quote currency, which we will use to buy the BTC and the 50,000 written ahead ahead it's just the price of Bitcoin or BTC So we will need to spend 50,000 of our USDT, to buy one Bitcoin. And that is what the basic format of our trading pair is. Now let's take a moment to understand marketplaces, marketplaces are just exchanges where you can buy, sell and swap your crypto. Now there are two types of exchanges, centralized and decentralized.

Centralized trading platforms are the ones that are overlooked by a Entity or a company. Whereas Decentralized exchanges are just a piece of code where you can integrate your wallet and swap one cryptocurrency for another. Now to make a decision on what exchanges you can use. Let me explain the Differences. Centralized exchanges are secure, more popular, have a lot more features and because there are more people using it, there is much more liquidity there and orders get executed very fast.

While, decentralized exchanges are more secure, have little to no fees on transactions and you hold complete control in this exchange and not the company or entity, but again, they are very slow when it comes to execution of orders. They're also not user-friendly and have very few features. So personally I would suggest centralized exchanges like Binance for trading, where you can have a lot more services like futures trading, margin trading, staking, P2P, etcetera, which you will learn as you enter the crypto space. I will also add a link in the description where you can find all the pros and cons off Each Popular exchange. So you can make a thorough decision.

Again NFT's, like I said, our digital assets, you can own. And NFT marketplaces allow you to buy and sell them, The most famous Ethereum-based marketplace is open sea, but now new marketplaces that are built on other more efficient blockchains, like Solanart and Solsea are gaining attention, but since NFT's are a completely different space. I would like to make a different video about this. Each person looks at trading differently and we give time depending on other important things. So we can divide trading into four types, which are based on their timeframes that the positions are open. And then we can decide exactly how we want to trade.

First step is swing trading. Swing trades are short to medium term trades, usually last days or weeks, here we have a lot of advantage like not having to give up time. Uh, also opportunity of huge profits, but there is a no long time advantage. And you might lose this trades because of the short-term market movements. Uh, we use the 1-Day.

and 4-hour Chart here. Uh, here is an example of swing trading. So this is a 1-day candlestick chart.

Uh, if that doesn't make sense, dont worry, we will get there. For now you just need to know that this is the 1-Day chart. And right after I got a green candlestick confirmation over here, which is one 188. I buy at 188, and then take my profits around 260. So the price moved up by almost 28 and the trade was open for about five weeks. And this is what a basic swing trade looks like.

Now moving onto Intra-day trading we have this open for very short time, usually within a day, we try to find breakouts here on the hour charts. This is a good way to get profits as we started getting experience in the market, but this is really time consuming and you need to be attractive on the market for all day. Let's now see an example on the BTC/USDT 1 hour chart. We can see that the price have you retested three times, uh, indicated on this support by the blue line. Don't worry about that yet. We will learn all of that later in this video.

But for now, just know that the price retested this support indicated by the blue line. And once this price was broken, that is 47,000 mark I entered my trade over here, uh, let it run for about 20 hours and exited with a good profit, so that is what a break out trade or a intraday trade looks like. Next up are scalping trades.

Really really short trades that we open for minutes or hours , We use the minute chart or 1-hour charts to trade. The advantage here Is having quick profits and high Accuracy. But this takes a lot of experience and a lot of time. Also we need a lot of funds or we need to trade futures to earn with Scalping.

A perfect example would be right here on the five minute BTC/uSDT chart, where i open my trade after a amazing dogi candlestick, which is this right here, The red one. The i wait for a Green candlestick confirmation and also see a MACD divergence. Again, don't worry.

You don't need to know this. I will go through this later in the video. So I enter my position of the green candlestick which is at about 50,150.

And then close my position at 50,900 mark, which leaves me with a great profit. And that is what scalping looks like. Lastly, coming to investement.. That's not exactly trading.

It simply means investing your money on good projects by researching and then investing it for very long terms, there are a few techniques though which help you not to buy very high. So you can average out your investment. So for example, you invest, you want to invest $800 in Bitcoin. So rather than doing it today itself, putting $800 today, you can put a hundred dollars for the eight months which will allow you to not buy very high and average out your entry value over a period of 8 months.

Okay. Now before we actually tade, let's learn the basics. This is How a usual exchange looks like the chart is made up of candlesticks. And these particular ones are known as the Japanese candle sticks. So here I'm on the one day chart.

So one candle stick will represent the price movement of 1 day, So if i was in the 1-hour chart, the 1 candlestick would represent the price movement in 1-hour. So let's see what the candlestick tells us. Now every token will have a opening price and a closing price. So the price that the token is on 12 am today is the opening price and the price that will end tommorow at 12 am will be the closing price. This is for the 1-Day chart. So the one hour chart will be exactly the same but for 1-hour time period.

So if the closing price is higher than the opening price, you will see a green candlestick and if the opening price is higher than the closing price you will see a red candlestick. So let's see what the candlestick represents, so the opening price for a green candlestick is below. And since the price went up, it will close higher than the opening price, um, similarly for the red, it opened right here, the price fell down and it closed here So the price at 12 am was right here where i am marking it for the green candlestick and closed here where the pointer is and for the red candlestick It opened here and within a day on a 1-Day chart it ended here Now lets see what the stick represents Okay. So. And then the green candlestick the price opened over here And it went up until here So this is the highest price that was reached on one day. So, and later on it closed over yet, but this is the highest price that reached.

And this the lowest price, for the green candlestick And as for the red candlestick, this is the highest place. Same exactly like green candlestick, that token reached And this is the lowest price So the stick represents the extremities of the price and while the body presents the opening place and the closing price for the token Trends are the most reliable way to recognize price movements And trend can be either bullish or bearish, a bullish trends is an uptrend and a bearish trend is a downtrend And recognizing trends is fairly easy. So When you're looking for an uptrend, you want to see a higher high and a higher low So let me explain what that means So here youcan see, we have reached a high This point so we will mark a high over here then you can again see another high right here, then you you can see high over here and again you can see a high over here.

Now, let us mark the lows So where can we see the lows, let me show you A low is basically when the price comes down, goes into a bearish moment and the lowest point we can call it low. We can see that this right here is a low, then again, we can see a low over here, uh, Again So this is for an uptrend, we will go ahead later So what we are seeing here is a higher high than the price drops down. We get a low, again, the price reaches higher than the last high and then it drops down again, but it is still higher than the lower low So we can predict that the chart is in an uptrend It does the same thing again, over here, and it again goes to a higher high Now when we are looking for a trend reversal, what we need to see is that the last low has been broken. So when we are looking for a downtrend, we need to have a lower high and a lower low So similar to here we can.

we will mark the lows again So here is a low and here is a high So what happened here is The price broke the last low, so it was a lower low And then it again went up, which was now a higher low so we can tell t this chart is going in an downtrend and you can see that it fell down So, this is what predicting trends looks like. Okay. No, this is quite important support level that the price is expected to move up from a downtrend after the buyers buy and resistance is a level, where an uptrend is expected to change to downtrend Now let's come back to the last example here we can see that after High here. The price started falling down so we can see that at this point we have at a resistance at this level And then again, the price fell down and it goes up So we can say that we have a support over here Similarly again, we see that we hit resistance again at this level, we have the support again at this low So that is what support and resistance means Resistance is a level Where the price is expected to move down and support is where the price is expected to move up from Now candlestick patterns I use for conformations I'm going to mention the four most important ones and also adding a list of all the candlestick patterns down in the description, Now hammer pattern looks like this It hints a upward or bullish move The buyers rushed in quick over here, usually happens at the support level that we'll learn that earlier We can use a strategy of getting another candlestick confirmation like this To enter a trade, next we shooting star, which is exactl opposite of hammer pattern It is a bearish pattern, sellers came in quick lover here, this usually happens at a resistance level.

So we can wait for a red Candlestick confirmation to enter or exit a trade next to have the bullish engulfing. This means that the upper upward move engufed, the downward move completely. So here after the red candlestick buyers came in and completely engulfed the downward move, and there can be a great chance for reversal of market. And lastly, we have the bearish engulfing Exactly opposite of the bullish engulfing. After the green candlestick sellers came in and englufed the upward move completely.

And the price is not expected to move downwards. Now that we have seen the candlestick patterns, let's see some important chat patterns Firstly Douple Top, to identify this pattern to see the chart move like this. After the price test, this neckline region right here twice, we can use our candlestick pattern knowledge to place a trade, and we expect that the price goes down from here Again, similarly for double bottom, we have exactly the opposite of double top, the price Again, test the neckline level twice and is expected to move up like this example Next we have the ascending triangle. We need to recognize the long-term trend before we read this pattern So once you are confident that you have a Uptrend on a bullish trend, ascending triangle like this right here, can hint a breakout upward and similarly, uh, for a bearish trend or a downtrend, over the long term a descending, triangle shape like this can help you recognize a fall in the market, next up we have Indicators Indicators at an amazing help for us to place trades They are mathematical models that give us a lot more information A few important indicators are, uh, the moving average or the MA This indicator just smooths out the price over a period of time And calculate its average, which is represented by a line So we have a simple moving average Which is a mean of prices over a period of time This iright here is a 200 day moving average, and this helps us to recognize how the price been moving for the past 200 days.

Also, we have exponential moving average, which is more weighted on recent rises. It depends on the kind of trade we are going to place to choose between SMA and EMA Next, we have the RSI Which is the relative strength index Which is a momentum indicator, which helps us understand if the market overbought or oversold, now generally an RSI of over 70 represents a overbought market While a RSI of below 30 represents a oversold market This indicator can't help us predict the future movement But It can help us understand the market situation Also we have ATR or the average true range We usually use this to set our stop losses It tells us how volatile the market is and how much it can actually move in a timeframe. So average true range can show us how much this BTC token move today from the previous data Next, we also have MACD or moving average convergence divergence, which is a trend following momentum indicator that shows us that relationship between two moving averages of a token, because the divergence and convergence of moving averages is usually a signal for the market to reverse It's moment. Also, we need to understand indicators are not perfect and cannot be a hundred percent accurate, but to increase our winning rate, we can surely use a strategy that uses multiple indicators together Now, before we place a trade, we need to know what all these things on an exchange are So let us take the following example, let's say I want to buy BTC at the current place.

I think it is the right time to buy BTC right now. So I want to buy it on the market. So what we can do is go ahead and find the BTC/USDT pair. Since we are buying it, USDT, the stable coin Um, so since we are going to buy it at the market price, All we need to do is go right here and this put in the amount you want to buy So I want to buy BTC worth of a hundred USDT So I just go ahead and put hundred USDT and simply click on the Buy button that is right here And when we have our spot wallet funded, it is directly deducted from our spot wallet and you will have a 100 USDT worth of Bitcoin in your account And we are doing this on the Binance exchange, but all the exchanges are pretty similar So I think it will be easy to figure out, now similar thing for selling, once you decide that you want to sell the the BTC you have in your wallet, just go ahead and put in exactly the amount you want to sell, since we are have a 100 USD worth of Bitcoin. I just put in a hundred year and click sell That's it And that is how market orders are opened No, let's do something trickier Now you can see that Bitcoin is around the 41,300 bucks So. What I think is Bitcoin will go even lower and I want to buy it at a price that is lower than this So what we can do is we can place a limit order, now in a limit order unlike market orders, we can choose the value we want to buy or sell it So all I have to do is, enter the price we want to buy at So let's say, I think that BTC will fall upto 41,000 So, all I have to do is open 41,000 here in the price section, and put in the amount worth of BTC Here I just put in 0.01 BTC

Since I want to buy that amount of BTC Once you place your buy order that you will have an open order since it won't get fulfilled immediately like a market order So we will have this open limit buy order here in this section. Now, similar thing for selling, let's say that after you buy Bitcoin, you think that the price will go up. Let's say at 41,000 Mark And you think that Bitcoin will go to 42,000. All you have to do is put 42,00 over here Put the amount of BTC we want, zero point points and simply sell, and that is what limit orders are Now let's say you're in a situation where you think that if BTC reaches a certain. Let's say for the 43000, then it will definitely go up higher and give you profits.

So what you can do is you can place a stop limit order. Now the Bitcoin reach 43000 very quickly, since, you know, crypto markets are very volatile and these orders help you. Uh, automating your trading in certain way So you don't need to be looking at the market 24 7. So what you can do is simply go here open the stop price as 43,000, also the limit price at 43,000 Since we want to buy at this price and you can in the amount So what this actually means is the stop is a Trigger price So let's see that Bitcoin reaches 43,00, after that a limit order or limit buy order of 43,000 will be placed in your open orders and once it is fulffiled, and since both the prices are same it will get fullfilled immediately, you will have 0.01 worth of Bitcoin In your account, you can also do something like this If you, or you think that after the price is triggered the 43,000 is dealer, you want to buy it for 43,100 So this setup Will do that.

And similarly, you can do for sell, you think that if price reaches 41,000 you will want to sell it so you can do the same thing, input the stop price and the limit price, and the amount and that is what stop limit orders are Now for stop-losses and take profits. Let's take the same example again, let's say you bought Bitcoin at 41,000 and you have done technical analysis and you think That if Bitcoin falls to 40,000, it will just keep on falling So to avoid getting even more losses, what you can do is place a stop loss at the 40,000 mark. So let's say you have the Bitcoin in your wallet. Now you have bought it at the 41,000 a month and you want to stop loss. So what you can do is you can go to the stop limit. And then go ahead with the stop as 40,000, then limit as 40,000 and the amount of BTC that you bought over here So, but I have put the values in the buy section You will haveto put in on the sell side tfor the stop loss Now, what this will do is once the market falls till 40,000 You will have a limit order, open limit order to sell your BTC at the 40,000 mark So what that will do is simply sell your BTC at loss and you will inncur no further losses.

So this is a way to avoid major losses. And similarly, you can also place take profits, which is a way to secure your profits So, what you can do is you have BTC with you have bought at 41,000 bucks. You can go ahead and put 43,000 over here, which will Place a take profit order at the 43,000 mark. So then simply when Bitcoin goes to 40,000 and you think that now it may might start falling, you will just have sold All the BTC you have when it reached 42,000, and these are just ways you can automate your trading So you don't have to look at the Market 24 7 Let's understand what order book is this located right here on the left side, it's just the open buy and sell orders with the amount and the price that people have placed on the market. Now the ones that are closer right here, these, and these are the closest to the market prices.

And as they go down, they are further away from the market, this can help us take the recognize at what value most of the people are buying and selling and gives us a value to where we should buy at Now that we have all the knowledge, let's actually learn how to trade using all the knowledge we took in the entire course I'm going to be giving you a simple swing trading example, which you can use as well. Now, the first thing I want you to do is open up a text file, or just use a paper to write down this template. Now, next, we need to find a trading pair with a positive and strong uptrend So here I have the FTM/USDT chart open.

Now we need to check for three things here. Like we learned earlier, trend, the support the resistances and consolidations And lastly, we will find our required levels using the help of indicators We can easily recognize over here on the FDM USD chart that we are in clear uptrend Now We can see that the last time we had a resistance exactly at this 0.96 mark So usually in many situations, a resistance can become support during a bullish move So we can see it out here that the price 0.96 became support

and the price went up again From that point, making a beautiful bullish engulfing for us that we saw earlier, as an good entry point So now that we know that what price we should enter we put it in the entry price section, in our template Now to get a stop loss, we need to know how volatile the market can be for that day So how much the market can move So here, the ATR will help us. So we find that ATR indicator um, See the value to be 0.25 At are entry level, right here Now we can find that stop loss by using the formula, subtracting our ATR from our entry price So we have our stop loss Next to book out profit, and secure them We need a take profit value So our position will be sold at our take profit And we'll secure all our profits.

This will be the last swing hing , which in this case is 1.72 Here. I will show you how we got that. The last thing I write here at this point is 1.72, as you can see it is higher, but we always go a little lower for take profits So we entered that in that Now, all that is left is just calculating our risk and profit percent Which is 20 and 40% over here, which basically means that if we lose this trade we will lose 20% of our investment. And if we win, we will have 40% profit or over our investement total used investment And our risk reward ratio turns out to be 1:2 over here And As you can see the price dip a little after that, but our trade was perfect and we hit the target in about two weeks of time Now this is just one strategy And obviously this isn't Bulletproof, no strategy is, but definitely you will learn many things by trying different strategies You will add more indicators and you will understand what those indicators do and how they will help us for our entry and exit I will also be posting a lot of strategies on this channel.

So stay tuned. Well, I just hope you took at least some knowledge from the course feel free to go through the video, using the timestamps below in the description. Also take a look at all the links I've mentioned below That will definitely be helpful.

I also want to tell you guys that the whole intention of this Is to make me a better learner myself, because teaching is the best way to keep learning So I would love any kind of feedback, that being said I thank you all. If you completed the course, I wish you all the best for starting your trading journey

2022-01-13 02:49

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