Free scalp trading crypto course.
Welcome to the complete free course on trading. In this article you will learn how to start or get better with trading. This course is divided into several parts. We start with general knowledge and that is followed by a step-by-step plan. We're going to cover all the points. The content we share is valuable. You can use this page for free crypto trading education.
That is why you can also take notes. At the end you will find out what trading is, how to place a trade, how to maximize your trade profit and how to minimize risk. We will also pay attention to levradge. We start from the beginning. So if you are completely new this is also suitable for you. You don't need any trading software. This are the trading basics and Crypto trading guide.
We also have a giveaway at the end.
warning: This trading course briefly covers all the steps of trading and how it works. It remains at all times. You learn to trade only to test in practice. But reading this through will help you a lot when trading. In this course we use the crypto currency Bitcoin. All data in this free day/scalp trading course applies to all digitally tradable assets.
What is trading and what kinds of traders are there?
Trading is the buying and selling of digital assets. What are digital assets? That's all you can buy and sell that's digital. These are stocks (Particles of companies), forex (currencies such as the euro and dollar) and Crypto coins (Digital coins such as bitcoin). There is a difference between investing and trading. The only difference is that with a trade you close short in position. It is important to know what kind of trader you want to become. There are 3 different traders. Every kind of trader uses roughly the same crypto trading guide.
1.) Scalping usually stays in a trade for less than an hour
2.) With day trading you usually close the trade within a day.
3.) With swing trading you stay in a trade for a number of weeks.
In this course we focus on scalping and day trading. Long ago what there were no crypto currencies. At that time most traded on forex. stocks was more for investment at the time. But in 2022, crypto currency will be the most traded. There are many different coins. They are distinguished as bitcoin and altcoins. We recommend starting with bitcoin because that price action is the most accurate. That is where most traders traded.
This is important before we start. Every trader sometimes loses. trade with money you can afford to lose and not with too much. Every novice trader loses a lot of money before it becomes profitable. With cryptocurrencies you can lose a lot of %.
How do candlesticks work?
The first part in this free crypto trading webinar is understanding candle sticks A chart consists of many candle sticks. A candle stick provides a lot of information from a long time. By this we mean that if you have selected a time frame of 1 day in a trading program, each candle indicates what happened on the day.
If the candle is green it will rise. And with red, the price has dropped. The shadows are the thin bars on the candle. These show what the highest and latest price has been on that time frame. Coming back to the body. The body is the price at which it opens and closes.
There are many different candle sticks. The standard candle sticks for traders are the Japanese candle sticks. It is difficult to explain how the price has moved in the candle. But during trading you will find out exactly that.
In this course of crypto trading we use the chart program tradingview. There are paid versions. We use the free one in this example because it is good enough. Click here to open tradingview. You can also download it. You can also download it via this link. All digital assets can be found in this program. No paid version is required. This program is also easy to use
The perfect exchange for traders.
Finding a good exchange is important for every trader. A good exchange starts every trader and is important for this crypto webinar.
We teach you how to trade in the short term with this free course. Our advice is to use Bybit. Click here to briefly read what bybit is. We choose this exchange For several reasons. Some exchanges have their own trading software that you can download from their site. But it can also be done in the browser.
1.) Bybit's fees are low. The fees are the trading costs. And because a trader places a lot of trades, you don't want to pay a lot in fees. Because that affects your P&L.
2.) The orders are entered quickly. That goes for long and shorts. Because you trade in the short term, you do not want to wait a few seconds for your trade to be registered on the exchange.
3.) The platform is user-friendly for novice traders and also for experienced traders.
4.) The levradge is clear. If you can trade profitably, you can also use levradge. If you use levradge well it will yield more profit. We will come back to this later in this course.
These were the 4 reasons why we recommend bybit. We also run a giveaway every month. So if you create an account through here you can participate for free in the giveaway. You can also see this giveaway as motivation to continue trading. Because the beginning of trading is difficult. But once you can do it, you don't want anything else. Would you like to learn more about what is important for an exchange? Then you can read more here.
What is levradge and how to use it.
Leverage is widely used in trading. And it can also be used in crypto trading. Levradge is a must for any profitable trader. because if you trade profitably, levradge provides more profit. That is why it is also good to learn and apply get in the beginning.
Thanks to this function you can bet more contracts and thus earn more. If you use it properly, it does not pose any additional risk. An example is that you buy 0.1 bitcoin but you use a levradge of x10 which means that you have bought a bitcoin. But if you can earn more, you can also lose more, you would say, but thanks to certain tools, that is not the case. So you earn more and your risk remains the same. No reason not to use it. We now go into more detail about how that works and what kind of risk is levradge.
What is technical analysis?
Technical analysis is important. Because thanks to this you can make the predictions of the price. That is the same with crypto, forex and crypto. That applies to all parts that we will deal with from now on. There are several things that affect the market. The news and a trader's analysis.
The only thing you can do about this yourself is the technical analysis.
A technical analysis consists of several parts. This is a big part of this free daytrade course.
Support and resistance
What are support and resistance in an analysis? Every trader needs it to determine an entry and stop loss. The take profit can also be determined with this. The support and resistance make levels. What are levels? Those are places where the price gets a pullback.
If the price goes up, the price will meet resistance. That means the price will drop to the previous suport. So suport is when the price is helped.
The difference between resistance and support is that the resistance works against the support. See the example on the right of how it works.
And this is a breakout. The red arrow is where you can put an enty. You see here that the resistance has become a support and resistance has come to the next life.
You can see that the price stays between the levels.
Levels are created by support and resistance. Because the price keeps going back, you can place trades on the levels. Below are a few examples. The levels are blue. If you look closely you can see that the price rises against the suport and then goes down again to suport. That's where the price comes in again.
The price action never moves by itself when trading. If the price goes up and down a number of times in the same area it is called a range. Another word is also called box. The price is always in ranges. If the price breaks it is called a breakout. If the breakout succeeds, it is in a different range. Then the support becomes resistance. This can be seen in the 2nd image. In short, a life is the top support and the bottom resistance.
Understanding trading patterns
There are many trade patterns that all have different names. If you want to read more about these patterns, you can click here for a detailed explanation and you know how to trade on them. Here too we will spend a short time on patterns. There is also a pattern above. The breakout from the range is a buy signal. This is a bullish pattern. This one is also bearish. What is bullish and bearish? Bulish is when everyone is positive and the price is uptrend and bearish is negative and the market is falling. Short orders are useful for that.
What is the entry and how do I place it?
An entry is the point where you buy the trade. Suppose you have bitcoin and you trade it. Do you have a long and a short order at trading exchanges? These are 2 different buy orders.They all work the same but are all very different. What is the difference between a long and short order?
Here are 2 examples of a long and short trade with a Take Profit TP and a Stopp loss SL.
The long order is a buy order that you use. for an increasing price. This buy order is green. Everyone knows the long order. If you place a trade on this, you will make a profit if the price rises. But there is another order and it works differently that is the short trade.
Short orders are the opposite of long orders. If you are in position with a short, you will make money if the price falls. That may be complicated but it isn't. The best thing you can do is test this out. You place your stop loss here above the entry. That is not the case with the long order. The short order is ideal in a bear market.
The first is a long trade and the second is a short.
The red area is the stop loss (loss) And the green area is the take profit (Profit)
How does the take profit (TP) work?
The take profit is the profit you make in a trade. So this is what you hope to win. When trading crypto, the return is usually a lot. With foreex it's small %. If you are a beginner we recommend not to focus on the money but on the % profit on the trade. The take profit is a take away choice. There are many trading plans to take profit from crypto. You can also choose to sell a part at a number of % profit.
You try to place the take profit as high as possible. But in a place where there is a good chance that it will be touched. This is just a matter of testing and trying. Below is an example of where the stop loss is placed. This example is a long order as you can see the take profit is against the resistance. You always place orders with the comformation of support and resistance.
There are several orders to place besides long and short. You have orders that you can place manually but also that are placed automatically. This means that imagine bitcoin comes to the price of $20,000 dollars. And you have an order on it that you will be filled at that price. In 2022 this is the best way because it also saves trading fees.
How does the stop loss (SL) work?
What is a stop loss and why is it so important. A stop loss is there to prevent your trade from failing. With cryptocurrencies you can otherwise go far in the minus. If you get 10% in the minus, you shouldn't have that when trading. The stop loss ensures that your contracts for your entry are sold.
Using a stop loss is very important. every trade has no chance of success. To use your stop loss well, you can make a profit while, for example, 80% of your trades are lost.
A stop loss is abbreviated with SL. This option secures your trade and is more important than a TP. Because if you know the stop loss and use it well, there is a very good chance that you will become a profitable trader.
If you are going to place the stop loss, it is important not to place it in a liquidation zone. In this zone, many traders are put on stop-losses. If you place a stop loss in there, there is a good chance that you will be stopped and that the price action then goes to your take profit. This is of course very sinful. Where is the liquidation zone? It is usually just above the wings of the candle sticks. If a bitcoin wants to do a price impulse, it needs volume. So that volume comes from this liquidation zone. That is why there is first a large wing of the candle stick and the price shoots away in 1 go. See image of the liquidation zone and the stop loss.
Here you see a stop loss that has been in a liquidation zone.
general rules for scalping day trading
If you are going to trade there are a few points to check if your trade is worth it. Thus, PnL can become higher. And that's what every trader wants. Your PnL is your average profit or loss over multiple trades that are in your order journal. That is why it is wise to carefully check these rules and steps. In this course you will receive this step-by-step plan. These steps apply to cryptocurrency trading, forex trading and stock trading. In other words, these rules and stables apply to every digital asset. Now let's start with these rules.
Trade rule 1: Take your rest.
Never rush into your trade. When trading it is important that you keep an overview and think carefully about all your decisions. If you go into a trade too quickly, things can go wrong because you haven't checked everything properly. Because if your trade goes wrong, there is a good chance that it will go wrong again. Here's an example. You have decided to take a trade on BTC/USDT.
That is a trade of bitcoin for which you get usdt (tether) in return. You have placed the entry, take profit TP and stopploss SL correctly based on your analysis and the bitcoin trade fails. If you then hastily search for an entry to recover your loss, you will generally lose faster. That's why take a fifteen minute break and look at the chart with a fresh look and then you can look at a new entry again. Rest makes for better choices. And have a lot of patience because sometimes filling an order can take a long time when trading.
Trade rule 2:Trade the same direction as the market.
You can increase your PnL to trade the same direction of the market. This means that if the market is falling and you focus on long trades, you are making it difficult for yourself. If you do trade against the market, you are bottom fishing and that is gambling on when the price will rise. If the market moves the price action in the other direction, a pattern will appear which gives you a signal. If you then short, you have a greater chance of winning and the chance is much smaller than you are going to trade against it. In the images below you can see what is wrong and which is right.
In this example they are long trading. On bitcoin (BTC)
In this example they are short trades. On bitcoin (BTC)
Trade rule 3: Keep your trade analysis clear
Keep your chart clean and organized. This way you can calmly analyze your trades. In this free course trading for scalps and day trading you have many notes in your chart. If you have a Bitcoin chart you have many levels and order boxes. Remove everything you don't need and so you can see more opportunities. This also means that you do not have too many indicators because that can also cause noise. This is an easy tip but useful to keep in mind.
Trade rule 4: Don't focus on price targets.
It is tempting to make a take profit on a round number. That means if you put a take profit at $29,780 and you move it up so it gets to 30,000 there's a danger of more chance it won't hit your tp and go back into your stop loss. That is because this is not part of an entry plan.
The same is that if your trade profit comes to $94 and you only put it on $100 because it is a nicer number, this is also a risk because it does not fall into your trade plan. When trading you should not focus on winning. If you just have to practice there, the profit will come.
If you stick to these 4 points you will become a better trader. That is almost 100% guaranteed. That applies most to lines 1 and 2 because they are the most important to achieve more profit. So to stick to this you have less risk and a higher PnL. That is always good in the long run because it is not about what you trade on a day but on the month. Some days you don't market very well and you may have a loss at the end of the day, while other days a lot of profit is made.
How do I place a trade with entry, stop loss, and take profit?
Placing a trade is the most important part of trading. We have discussed the most important matters.
Before we go into this in depth, I would like to ask you to read all the above steps carefully because they are all important in this topic. Keep in mind that every novice trader makes a lot of losing trades in the beginning. Because when trading you really only learn to test and try. When you start it is useful to write all your orders in an order journal.
Here you can easily see what a good trade was, how much return you had and what could be improved. Click here to read a short text about these order books. Everyone trades in their own way. That means that every trader has his own plan and it is made by you. That will also happen with your plan. Open your exchange and chart program. In our example we use the bitcoin chart. This is widely used by traders. We are going to explain it to you step by step.
The placed levels provide support and resistance.
Select a timeframe of the candles. Make sure they are not too low because the longer the more difficult it becomes to find the perfect trade.
Now go and draw your levels. Those are the horizontal lines. You place it at price points where there is support and recistance. Also look in the past because these levels don't come from anywhere. See the example below.
Choose whether it will be long or short. in our example it becomes a short. Enter the trading program and select the short box option. Set the entry price to a chosen level and drag the green box to a place where you want to take profit. And put the stop loss on the chosen spot. Make sure that as many candle wicks as possible do not fall in. See Figure 2.
The order box in trading view. This is an example of a trade setup 2022.
Now go to your exchange and select place order. Then click on position size and write down how many dollars or bitcoin you want to put on it. Then add the stop
loss and the take profit and note the price data there, which the order box indicates in the chart. select that on place buy order and in our case it is place sell order because in our example it is a short.
Congratulations You have now placed a trade. And now we have to wait for the trade to be played out. In the beginning there is a good chance that you will make a loss. But if you keep trading, you'll be fine. Then you can always improve yourself and become a profitable trader yourself.
Always use an order day book.
An order journal is a book or file in which you store certain data. If you enter certain data for each trade, you can easily see what you are doing well and what can be improved. This way you can continuously improve yourself and therefore always make a trade profit. Suppose you trade the crypto currensy and your trade is not going well and see why you can look in the diary to see if it happens more often. So you have never learned from trading. You can create an order diary in an xcel or word file and need a few details of your trade on the cryptocurrency.
PnL stands for Profit and loss over multiple trades. So it can be positive and negative. If you write this down, it can bring up important information for you to learn from.
With long and short order you enter whether you have used a long or a shoret order. This way you can also see if you are good at certain orders. So you can see if you are going to use fewer shorts because it gives less return.
Risk Stop Loss
Here you enter how much risk you have taken. This way you can look over a number of trades to see if your risk management is good for your own trade strategy. so you can maximize your profit and minimize loss.
At position size you can enter how large your position was and whether you used levradge. This is not information to learn from, but it is useful to include in the overview of the order diary.
RR stands for Risk Reward, also known as Risk Reward Ratio. This is very similar to your PnL but at the RR it is the profit/loss on 1 trade. suppose you have a Take profit at 4% and a stop loss at 1% then you have a risk reward of 4.0 on your trade.
Here you can write down details of what went well or badly after the trade. This way you can look back later on whether you fall back into the same mistakes and solve them, so that stop losses are hit less and make more profit when trading crypto.
Tips for trading during your cryptocurrency learning period.
Now that you know and understand all the important points, it is important to start using it in trading. As you have noticed, it can be difficult for many traders to understand and remember the trading tips. There is really only 1 way to learn to trade and that is to do it. We would like to give you information not to give up quickly when trading crypto coins. Every trader has a hard time in the beginning and sometimes doesn't even know what they are doing.
1.) After every trade, look back at why the trade went well or badly. And note this in the order book. That way you can learn from your mistakes.
2.) Take your rest when trading. Learning how to trade can take a long time. It is not the case that if you make a lot of trades that you will learn it faster. So take all the rest because for trading crypto currensys you have to be patient and calm.
3.) Don't think you are a bad trader. In the beginning it is not bad to make a loss. Many beginners make a lot of loss in trading the first month or a few months. That's okay, because you can learn from these mistakes. Over time, trading improves and you will notice that in the long run. So don't worry about losing trades even if almost everything is losing. No matter how well you can trade, every trader sometimes makes a non-working trade. In this free trading course you will have noticed that it is all about risk management.
Keep calm and take small steps towards profitable crypto trades.
End of free trading course crypto.
This was the course. The basics have been explained and I hope you now have enough knowledge to get started. Losing trades again are not bad. Every trader gets some loss-making trades. This what the crypto trading guide and free crypto webinar.
If you have any questions now, you can ask us or the community. You may have noticed that explanation of a trading program is not explained. You can click here for a summary of tradingview's tools and how to set them up. An external trading chart is important. To motivate you to continue the learning process, there is also a giveaway for you.
As you have noticed, trading is all about knowledge. So there is not much to learn about trading by reading. That is why it is better to start trading and to build up experience. Because the experience helps you. You learn the most from that and after learning you can earn money on the cryptocurrensy market.