BitMEX 101 - Basics on Margin trading on the BitMEX exchange

A summary of the terms were going to go through in this lecture

Margin trading and leverage are often used interchangeably but they have subtle differences

In this lesson, we discuss the difference between long and short positions

Order cost and order value defined and differentiated

Understanding liquidation and how to avoid it

We discuss the 2 different types of profit and loss on the BitMEX platform

BitMEX supports these 2 types of derivative contracts on their platform

We discuss the 5 basic order types as well as the available options in the order box

Understanding the fee structure on the platform

Live walkthru of the exchange

Chapter 1 wrap up

Bonus Class ***Learn how to read an order book on the platform

Bonus Class *** Learn to read the depth chart

Bonus Class *** Live demo on how to use the depth chart and order book

Bonus Class *** What it is and how you can defend against it

Bonus Class *** The core of the liquidation and profit system

Bonus Class *** The main part of the of fair price marking system

Bonus Class *** What it is and how you can use it to your advantage

Bonus Class *** What they are and how to protect yourself

Bonus Class *** Another concern you should be worried about in a low volume bear market

Chapter outline of whats to come

Probably the #1 most powerful of all the  emotions

Can blind you silly and make you forget risk mgmt

We all were here once

Been there . done that

A compilation of my own personal opinion on how to deal with emotions

Chapter 2 wrap up

Risk Mgmt chapter outline

One of the main reasons why traders go broke

Anything over a 2 is good

Live demo of the long and short position tool to calculate RR

A very necessary rule

A cool demo of a great online position calculator

Its a 2 way street

A decent way to protect profits as well as mitigate risk

A wrap up of what we learned in this lecture

As important as simply having one is where to put it

Placing a proper stop loss demo

Hedge when all else fails!

Overtrading can be disastrous!

Taking a loss is the same as admitting youre wrong.  Can you suck in your pride in order to do so?

Observe the power of leverage

How to use higher leverage but a lower position size to keep you safe

Breakdown of what well be covering in the longest section of the course

One of the most fundamental components of all TA

Demo on how to find support and resistance zones on the chart and draw them

How to draw a trendline

How to draw a channel

How to use dynamic support and resistance

How to trade what you've learned so far

The belief that all numbers are connected to everything

The missing fib demo that I forgot to upload !! Sorry all!

The best tool to identify trends

Slower of the 2 MAs

Faster and more current

Indicators are simple and easy to use as signals to enter and exit trades

How to use the RSI

What to look for with the STOCH RSI

1. Double Tops/Bottoms

2. Head and shoulders/Inverse Head and shoulders

3. Rising/Falling Wedges

4. Bull/Bear Flags

5. Ascending/Descending Triangles

How to trade a double top/bottom pattern

How to trade the HS

How to trade wedge patterns

EZ money when you see one of these

Very rare but a good sign that the trend is going to continue

Difficult to trade as consolidation may decide to break out into either bullish or bearish scenarios

Not as important as TA imo in crypto, but included nonetheless

What a long day it was!

One of the most powerful indicators thats commonly overlooked

Another indicator on volume

A very powerful indicator that is multifaceted which not only provides support and resistance but another layer of confluence

A live demo showing how to use it

Another multi faceted indicator that  is very popular among traders in the space

Demo showing you how to set it up and how to use

A good way to measure trend momentum and pick tops and bottoms

Part 2 of divergence

Divergence Cheat sheet / Sorry youll need to pause it to see it properly

A quick look at what we'll be covering in price action

What is price action?

Tops and bottoms of candle formations

The anatomy of a candlestick

A basic formation that many traders trade off of including myself

How to spot one

Very reliable and dependable setup

How to spot one

A classic continuation pattern

How it looks on the charts

A pause - dont trade off them but wait

Wait 2-3 candle closes so trend can develop

An overview of Elliot Waves

Basic theory

3 Rules

3 guidelines to follow

Live demo on how to plot

Wrap up

Section 6 overview

You need to decide which type best fits your personality

Only invest what you can afford to lose

Time is crucial in deciding which type of trader you will be

1. Define what kind of trader you are

2. Use indicators to identify new trend

3. Use indicators to confirm the new trend

4. Define your risk

5. Define entries and exits

6. Write down your rules and follow them!

Can be built in 3 steps

1. Define time frame (ex. 200 day)

2. Determine entry (enter long if 200 day is below the current price + RSI is greater than 30)

3. Determine exit (exit when RSI is over 70 STOCH RSI crosses 80)

This will be an ongoing effort

Seems like a waste of time, but its really helped me out

Lecture 6 wrap up

Things to keep in mind

My favorite trading books to learn by

*** This lecture discusses trading bots and a project that I have been working on which takes in account all the main talking points of the lecture and combines them into a program that simplifies trading and sticks to the principles discussed already in previous sections

Proof of trades spreadsheet

Daily timeframe

https://drive.google.com/open?id=10RWEUncw3lfwF5OHSwLGN7QEgf-fI8y8

2 day timeframe

https://drive.google.com/open?id=1aSqwiHlz4JesD8Ku-FsKif0chSUBY6BN

How to contact me in case you have questions