116880
Contact for any queries @Steffendude
What is risk management?
We are constantly managing risks throughout our lives - either during simple tasks (such as driving a car) or when making new insurance or medical plans. In essence, risk management is all about assessing and reacting to risks.
Most of us manage them unconsciously during everyday activities. But, when it comes to financial markets and business administration, assessing risks is a crucial and very conscious practice.
1. Setting objectives
The first step is to define what are the main goals. It is often related to the risk tolerance of the company or individual. In other words, how much risk they are willing to take to move toward their goals.
2. Identifying risks
The second step involves detecting and defining what the potential risks are. It aims to reveal all sorts of events that may cause negative effects. In the business environment, this step may also provide insightful information that isn’t directly related to financial risks.
2. Risk assessment
After identifying the risks, the next step is to evaluate their expected frequency and severity. The risks are then ranked in order of importance, which facilitates the creation or adoption of an appropriate response.
4. Defining Probability
The fourth step consists of defining responses for each type of risk, according to their level of importance. It establishes what is the action to be taken in case an unfavorable event occurs.
5. Monitoring
The final step of a risk management strategy is to monitor its efficiency in response to events. This often requires a continuous collection and analysis of data.
I hope you will remember these points and will help this on your trading style.
#BTC didn't gave any movement and started ranging inside the strong resistance level. This might due to global market are closed, so a breakout will decide the next week direction. Around, $17,500 is the upcoming resistance and $17,300 is the upcoming support.
Читать полностью…
In every industry, there is a special language to make communication easy and efficient. Those abbreviations have a great impact on the industry, lets understand what they are.
List of abbreviations commonly used in #cryptocurrency trading.
#Altcoins: Alternate #cryptocurrency that is any #cryptocurrency other than bitcoin
#Bag Holder = A person who buys and hold coins in large quantity hoping to make good profits in the future.
#Bear/Bearish = Negative price movement
#BTFD = Buy The Fucking Dip
#Bull/Bullish= Positive price movement
#DILDO = Long green or red candles
#Dump = To Sell off a coin
#DYOR = Do Your Own Research
#FA = Fundamental Analysis
#FOMO = Fear Of Missing Out
#FUD = Fear Uncertainty & Doubt
#HODL = Hold/Hold a position
#Long: Margin bull position
#MCAP = Market Capitalization
#Moon = Continuous upward movement of price
#OTC = Over The Counter
#Pump: Upward price movement
#Shitcoin = A coin with no potential value or use
#Short = Margin bear position
#TA: Technical Analysis
#REKT: When you have a bad loss
#Whale = Very Wealthy trader/Market mover.
#Weak Hand = a coin holder prone to selling at the first sign of a deep in price.
#AMA: Ask me anything
#ATH: All-Time High
#C2C: Crypto to Crypto
#DLT: Distributed ledger technology
#DYOR: Do Your Own Research
#IMO: In My Opinion
#JOMO: Joy Of Missing Out
#Lambo: Lambo is the status symbol that becomes an elusive goal for most investors. It’s a car industry reference that makes people believe everyone who has entered the cryptocurrency business will buy a Lamborghini very soon.
#MCAP: Market Capitalization
#Moon: To the Moon resembles the All-Time high.
#Nocoiner: A No-coiner can be any person who doesn’t own Bitcoins.
#Noob: A person who is inexperienced/ new to a particular sphere or activity,
#OTC: Over The Counter
#SAFU: Secure Asset Funds for Users.
#Shill: Shill is the holder/owner of altcoins who just wants to promote his digital currency for his own benefit.
#BTC gave a fakeout of the small consolidation range and pushed up back till strong resistance zone. Price already facing some strong rejection again. Looks like, the price might break above the zone, better keep an eye on the level, before entering any fresh trades.
Читать полностью…
#LINK did give a close above but ended up being rejection as no candle able to move any higher. Price already rejected and broken the trendline too. Still not a good setup, so looking for a confirmation back to resistance for shorts 📉.
Читать полностью…
#BTC completed its parabolic move and rejected from the resistance too. Price started consolidating and moreover hodling above the hourly support around $16,750. Waiting for a breakout below $16,750 or $17,000 mark.
Читать полностью…
#OCEAN given a breakout of the triangle pattern, which makes the bias bullish but there's is strong resistance zone around $0.177- $0.181. Price is rejecting from here, which a potential setup now, but use hourly structure as confirmation. Alternatively, buys are risky as there's a bunch of rejection areas.
Читать полностью…
#Bitcoin rallies up till the resistance zone and goes deep inside it and ended up being rejection as anticipated. Still, price maintaining the market structure. Price need to break the 4H swing low for a confirmation. You can look for hourly support for early indication.
Читать полностью…
#BTC.D consolidated for more than 2 weeks over the major resistance level and now trying to break below of the zone. Candle closure is still pending, this could be potential opportunity for a short-term altcoin movement and #BTC also aligns with it. Look for confirmation and risk accordingly.
Читать полностью…
https://www.binance.com/en/support/announcement/98469caac0b54a2198208b7ceed71f91
Читать полностью…
#BAND did give a break below and quickly reversed. Price is more yo ranging now. Right now, price tested back to major resistance and rejected too. Better look for another opportunities and close any open positions.
Читать полностью…
#BTC did gave a slightly move as possible, still anticipating that small up-move and also look for that rising wedge pattern. A break of the risking wedge will be early indication of the exhaustion.
Читать полностью…
So, Most of the people gonna hodl the older purchases and anticipation of upmove. But we would say, better average out the position, as market is already drastically down about 80% - 90%. So, to recover those price, market needs to rise 9x - 10x from the bottom, which is huge. This might possible but you'll lose the potential profits out there. Bet only on blue-chip coins as market gonna wash away unhealthy projects until next bull-run.
Читать полностью…
#BTC still didn't moved alot and its kore than was earlier. Price forming a parabolic move and might reach the resistance level around $16,850 and 17,000 atmost. Hourly TF, trying to shift structure, so short-term upmove may come, don't fall in trap wait for opportunities.
Читать полностью…
#DOCK didn't gave a breakout and rejected from the resistance as mentioned. If you took the entey then its good. Price again came back and made a large wick showing sharp rejection again. Now, price build a range and look for a range breakout.
Читать полностью…
#LINK reversed back to the resistance and given no confirmation for sells and broke above the zone. Price made immediate retest back and made an pin bar candlestick, which shows buyers confidence. Scalp move is possible till next resistance $6.00
Читать полностью…
Here's the analysis of #GAL :
#GAL recently made its ATL (All-Time low) near about $0.96 and shifted the market structure to the upside and reached the resistance zone around $1.142 - $1.150. Price is expected for a deep pullback at the flip level around $1.07. A confluence is added with the trendline, so wait the setup & confirmations.
#ATOM trended back to the hourly TF support and pushed back till structural resistance around $10.38. Now, it builds a range to better wait for a breakout or you can trade the range between $9.95 and $10.40.
Читать полностью…
Here's the analysis of #MINA :
#MINA trading below the strong resistance zone of $0.500 - $0.509. Recently, price broke above the channel pattern and rejects from the minor resistance. Currently, its a no trade zone as price approaching towards the structural support. We'll update, if there'll any setup 🔹
What Are Behavioral Biases and How Can We Avoid Them?
Behavioral biases, when left unchecked, can lead to poor crypto trading and investing decisions. In fact, there is an entire field of study called behavioral finance, which combines psychological theory with conventional financial economics. Biases are often unconscious, so you must pay close attention to your behavior to reduce bias-charged decision-making.
1. Overconfidence
The overconfidence bias applies to traders who are too sure of their trading ability, causing them to make risky market decisions or overly frequent trades. You can also be overconfident in assets you have already invested heavily in, leading to a portfolio lacking in diversification.
2. Limited Attention Span
There are countless crypto opportunities available. However, we only have a limited amount of attention to spare to properly understand each option before trading. Furthermore, there is often a lot of market noise surrounding different crypto opportunities. This could lead to trading decisions being made with incorrect or insufficient information.
3. Trend-Chasing
Due to the volatile nature of the crypto market, traders may be misled by a token’s exponential price increase and neglect studying the fundamentals that support this spike. Instead of jumping on the bandwagon, consider assets trading below what you feel is their intrinsic value instead of just focusing on tokens that have performed spectacularly well.
Here's the analysis of #ATOM :
#ATOM is been trending to the upside after making the bear flag invalid. Price moved above the resistance line showing bullish intention. Daily TF doesn't looks promising as its approaching the resistance area. No setups as of now until hourly support breaks.
#Bitcoin 💰 Reserves hits the #ATL (All-Time Low) since 2020 data. This data shows "The total number of coins held in the exchange". As the values continue to rise in reserve, it indicates higher selling pressure, and now it ATL. So, This might be the reason of consolidation in #Bitcoin for long-time.
Читать полностью…
Here's the analysis of #XRP :
#XRP rejected from the strong resistance of $0.372 - $0.376 and sharply rejected from the major support zone around $0.301 - $0.311. Its more likely a stop-hunt and trying to change the market structure. Right now, its a no trade level and short-sells at strong resistance with confirmation.
#Bitcoin continues with it parabolic move and given a decent up-move. Price already reached near its strong resistance level, so anticipating so a small range or a rejection here. Price break and close above $17,100 will kick-in small alts rally 📈.
Читать полностью…
Here's the analysis of #LINK :
#LINK break below after the consolidation range and tapped the major support zone of $5.30 - $5.41. Recently, price retested and rejected the structural level as resistance around $5.75 - $5.78. Currently, price trying to break above the resistance zone, which may eventually push till $6.02 - $6.07. A rejection will be potential short-sells opportunity.
#GALA broke the downtrend channel and price is moving toward the resistance zone. The alternative path is chosen by price. There is high probability that price reject from the resistance area and continue the downward movement. A short selling opportunity is there near $0.018 level.
Читать полностью…
Here's the analysis of #OCEAN :
#OCEAN floating above the major support zone of $0.146 - $0.155. Price more precisely ranging now, and forming a triangle pattern, where price gave a minor break. This can be a fake out, so not looking for any setups here.
Overall market is on a short-term pullback mode. #ZIL is also on its way too and might test the resistance zone of $0.0170 - $0.0173. You can look for confirmation in/ nearby that area of entries.
Читать полностью…
Here's the analysis of #WAVES :
#WAVES dropped sharply too the major support zone of $1.23 - $1.31. Recently price retraced hard and mitigated from the resistance zone of $1.47 - $1.49. The rejection were too hard, so a Consolidation range is expected. A break below of the support will be the perfect opportunity for sells.
#GALA travelling inside the downtrend channel pattern and a retracement is expected to the resistance line and drop. Alternatively, this can take a fake breakout of the channel till resistance zone, which will be a high probable shorts opportunity.
Читать полностью…