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Speculate Freedom HELPING THE WORKING CLASS TRADE PART TIME WHILE WORKING FULL TIME IN ORDER TO ACHIEVE FINANCIAL FREEDOM

Archive for position trading

Cryptocurrency Trading Guide
Posted by Blake 
· November 19, 2017 
· 4 Comments

Cryptocurrency Trading Strategy-Stage Madness

To Learn Cryptocurrency Trading…

Learn Methods/Strategies

I want to preface this post with a brief talk about how to learn technical analysis.  A lot of people focus on learning indicators.  Few focus on applying the indicators.  I personally use very little indicators.  I am a price action trader, though some indicators have some value.  In cryptocurrency trading, I have seen an intense focus on indicators from a lot of newer traders.  Indicator bloat is a problem.  I focus on the few indicators that have some value and have backtested data showing they have a statistical edge.  If you are interested in learning how I settled on the few indicators I use, I recommend going through the Adam Grimes’ free trading course.  If you want to learn TA, and the reasoning for why I use certain indicators, that is the place to go.  That is a great place to learn the basics.  Babypips.com is also excellent.

Learn the Basics First

There are many other good resources for learning the basics.  Investopedia has a very simple course, Stockcharts.com has some good lessons.  There are a multitude of great books out there for learning the basics, or learning methods.  Technical Analysis of the Financial Markets is a good one for learning TA.  There are some excellent blogs out there, such as Stockbee.  I have links in my resources section to some of my favorite trading books and blogs.  Yes, a lot of my books and blogs are about stock trading.  A lot of the same principles apply to crypto trading.  There are truly not a lot of quality traders in crypto yet, IMO, so the best resources are still in the stock world.

A lot of readers of my blog are at the ground level, so I recommend starting there and then come back here to learn my method.  Or find another method that more suits your personality.  QuickFingersLuc or Brian Beamish are two that I really like.  Brian Beamish’s method is similar to mine.  Several of Dave Landry’s setups have also greatly influenced the way I trade crypto.  I trade QFLs method in addition to mine, with some slight alterations.  That will require a separate blog post, however.  This post is for my bread and butter method.

I have a video to go with this post:

Why Cryptocurrency Trading?

I recommend newer traders, or traders with a smaller account balance to strongly consider crypto.  The volatility is off the charts.  Volatility equals potential.  If you can be a winning trader here, you can do much better here than in equities.  You can much more quickly grow your account in Crypto.

These markets have a lot of amateurs and not a lot of professionals.  This equals opportunity if you are serious.

There are risks.  High volatility does equal high risk.  The exchanges have had many issues in the past with hacking, downtime, etc.  I find these markets to be somewhat like a high tech version of Jesse Livermore’s bucket shops, if you have ever read Reminiscences of a Stock Operator.

Please do your research before jumping into this.

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Disclaimer

The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

SpeculateFreedom.com disclaim all and any guarantees, undertakings and warranties, expressed or implied, and shall not be liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or consequential loss or damage) arising out of or in connection with any use or reliance on the information or advice on this site. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

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Related Posts:

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4 Comments
Categories : Alt Coins, Bitcoin, Crypto Trading Channel, Cryptoassets, Crytpocurrency, Discord, Episodic Pivots, Ethereum, Focus, Growth, Learning, Lucky36Luc, Momentum, Pullbacks, QuickFingersLuc, Resources, SS Traders, Tools, Trading Discussion Group, WATCH LISTS
Tags : bear market, Bitcoin, CRYPTO, Crypto Markets, CRYPTO TRADING, Cryptocurrency, dave landry, Definitions, Episodic Pivots, Ethereum, focus, Fundamentals, position trading, QuickFingersLuc, Trading, WATCH LISTS
Posted by Blake 
· August 27, 2017 
· No Comments

Weekly Watch Lists for the Week of 8/27/17

This entry is part 12 of 16 in the series Weekly Watch Lists

I haven’t posted a watch list for a while as I am fully invested in alt coins so I have little capital left for bids.  Also I am allocating 30% of my account for a shorter term alt coin trading strategy.  Developing that strategy has taken a lot of my free time.  In stocks there have not been many good setups for over a month.  I am mostly cash, but I have been buying XIV fairly heavily.

I made an example of how I find bid levels for my alt coin position trades:

Example of Bid Levels for Position Trading on an Alt Coin by bigurb on TradingView.com

Watch Lists 8/27/17

Disclaimer

The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

SpeculateFreedom.com disclaim all and any guarantees, undertakings and warranties, expressed or implied, and shall not be liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or consequential loss or damage) arising out of or in connection with any use or reliance on the information or advice on this site. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

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Related Posts:

  • The working person’s trading method detailed.…
  • Resources
  • Resources
  • The working person’s trading method detailed. Part 6…
  • The working person’s trading method detailed.…
  • The working person’s trading method detailed. Part 5…
No Comments
Categories : Alt Coins, Bitcoin, Crytpocurrency, Ethereum, Growth, Momentum, Pullbacks
Tags : Alt Coins, Bitcoin, Cryptocurrency, position trading, Stock Market
Posted by Blake 
· June 12, 2016 
· 2 Comments

The working person’s trading method detailed. Part 1 Why You Should Trade.

This entry is part 1 of 8 in the series Working Person's Trading Method

A word on trading success ratesRubix Cube Solved Position Trading Success

Can you be successful position trading while working a full-time job? I believe so, but many would argue that if you want to trade you should trade full-time. “They” say that 90% of traders fail, that the game is rigged, that markets are efficient, etc.

I have two points to make about these types of statements. First, always question the validity of a statement that begins with “they”. It’s a weird pet peeve of mine, but I have always wondered who these mythical all-knowing beings are that are simple known as “they”. I digress. My second point is that the statistics often cited, while quite possibly true, I believe are taken out of context a bit. It probably includes amateurs who have just a passing interest in the stock market, put little to no research into it, and only buy stocks whose products they are familiar with. If the statistics were narrowed down to those that take it seriously, then the success rate I believe would drastically improve.

I am not trying to make the claim that the success rate of this group is astronomically high either. It is my belief that much of the fear mongering that takes place is done so to scare people away from trading, and instead they are encouraged to give their money to an “expert”. I imagine these experts are possibly from the mysterious “they” group.

I do plan to take a deep dive into the statistics of trading success in a future blog post. One of my goals of this blog is to assuage some of the fears that are propagated towards new traders. I believe that the powers that be push this to ensure the ultra corrupt system continues on. I want to encourage people to make their own financial decisions versus giving their money to the greedy, corrupt wall street denizens. It is not easy, but it is also not nearly as hard as some would make you believe. The average return of a mutual fund is incredibly anemic, and beating those atrocious returns is not impossible. The vast majority of mutual funds under-perform the market.

Beating the market averages is also do-able for the average person. I am sure I will get some flack from some that I am trying to say trading is easy. It is most certainly not easy. But if you do take a look at the statistics, and again I plan to expand upon the data that is available at some point, you can see some things that we can use to our advantage. One, most of the studies done look at day trading success rates. The small amount of statistics available shows that longer term traders and investors do better on average. Another thing to consider is that the system we have set up pumps money into the system via people’s retirement accounts. Every pay period people dump a bit of their paycheck into the stock market. This creates an upward bias in the market that we can use to our advantage if we target longer time periods. The markets are almost always higher over long time intervals of 5-10-20 years. With this in mind, in theory it should be possible to be profitable as a position, or medium to long-term, trader. It does not mean that more than 50% of people will be. Many will not put in the time necessary to get there. You really do need to be diligent and put some serious effort into this to make it work.

Read More →

Disclaimer

The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

SpeculateFreedom.com disclaim all and any guarantees, undertakings and warranties, expressed or implied, and shall not be liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or consequential loss or damage) arising out of or in connection with any use or reliance on the information or advice on this site. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

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Related Posts:

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  • The working person’s trading method detailed. Part 2…
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2 Comments
Categories : CANSLIM, Growth, IBD, Momentum, Pullbacks, Working Person Method
Tags : busy trader, dave landry, jesse stine, position trading, statistics, stockbee, success rate, working person

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