Posts

Disclosing my trading Method: Planning and Execution of my Daily Trading Plan

avatar of @toofasteddie
25
@toofasteddie
·
0 views
·
2 min read

A few weeks ago I spoke about How much I dedicate to short-term trading in terms of proportion in comparison with my whole Wallet value. Today, I would like to describe my daily Trading routine which provides me with sustainable profits since long. First of all, let me say that I have spent a lot of time, actually I would say years, improving my strategies and learning everything I can regarding TA and, while the more knowledge you get the better, believe me when I tell you that there is no other way to improve your Trading techniques than putting in practice and learning about your successes and failures besides yourselves. With the time I developed a Daily routine, something that, in first sight, could seem that requires so much attention by my side but actually it does not. Actually, it is something we all cryptoaddicts do in a randomised way during the whole day but more structured in this case. The structure of my daily routine, helps me in order to spend just the needed time and not the whole day in front of the computer. The main points I follow are chronologically listed below:

1) Check the TOTAL MARKET Cap 1Day and 4hours charts, identify the trend, project future movements of the Total Market Cap. 2) Check BTC and ETH 4h and 1h Chart, Correct or maintain positions depending on the Swing Trading plan. Swing trading. 3) Check the whole BINANCE Futures Market on Altcoins. This is something I do in a fast way, using Tradingview and my favorite altcoins list (IMAGE below), usually in the hourly chart. Choose those altcoins which present an interesting trading setup (LONG/SHORT). Create a list with maximum 10 altcoins to analyze in deep.

4) For each one of the selected altcoins, analyze its chart starting from the High Timeframe to the low, ie from 4h to 15'.

  • Identify the current EW Count
  • Identify the pattern or the Supports and Resistance levels
  • Analyze the RSI indicator in confluence with the price action and Volume
  • Identify Entry points and Exit points (including Stop Loss)
  • Evaluate Reward/Risk Ratio on each of them, do not choose to trade altcoins which R:R is less than 1.5
  • Finally select 4 or 5 Altcoins for Day trading/Scalping
  • Set positions and Take-profit / Stop-Loss levels. This point is mandatory if you don't have the available time. In case you have it, I would recommend to not place them but having them on mind in order to execute eventually.

5) Execute and Monitor

Rinse and repeat...So far this month my Short Term trading wallet is 80% Up which means a projection 250% profit by the end of the month.


@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.