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Trading Principles -- Updated 2018/11/30
Back to Snerx -- Contact us on our official Discord. ====================================================================================== Standard BTC/USD chart on TradingView. The indicators used and what they mean: • HA - Heikin Ashi • BB - Bollinger Bands • SAR - Stop And Reversal • RSI - Relative Strength Index • SRSI - Stochastic RSI • MACD - Moving Average Convergence Divergence • SAR - Stop And Reversal • CHOP - Choppiness Index Basic trade strategies: • Recognizing basic patterns and trends is wildly helpful. • The most basic trade technique is swing trading using RSI. • You can use a bot like Cryptohopper for advanced trading strats (Bittrex mostly). • Amazingly, the CNBC Bitcoin Contraindicator returns 95% accuracy for Bitcoin price. Bitfinex has a good explanation of common order types you'll see on exchanges. Cryptowatch has the best overall chart view of every large mcap cryptocurrency if you need to monitor multiple coins at once for some reason. BitcoinWisdom is decent too. We have a built-in tool for exchanging between currencies using CoinSwitch. The "Golden Three" in cryptocurrency have shifted from being BTC, LTC, and XRP to BTC, ETH, and ZEC. The reasons for this are because Litecoin stopped being ASIC resistant, which was it's selling point, and Ripple is a shit-tier company (take it from someone that was on the inside) that is aiding the enemy - fiat. Etherium is by far the most robust turing-complete cryptocurrency and therefore development platform in the space. Zcash is the most robust private currency to date, with Monero being a close second. You should never have to bother with any currency outside of the golden three if you are just going to be day trading or scalping, not just because the rest are irrelevant technologies, but because trading them artificially inflates their volumes, making them look more viable as technologies than they really are.