Crypto Investing #11 – What Is Cryptocurrency Technical Analysis?

This is Tai Zen again. Still, on my way to the Tampa Airport and in this video guys, I want to share with you guys what is technical analysis. In the previous video, I explained to you guys what is the fundamental analysis. That’s the characteristics and the traits that can that give the product that you are buying or selling value. And in this video, I want to talk about the technical analysis.

So once you select the right cryptocurrency to invest in, the next thing is to find the ideal entry point. If you buy, let’s say that you did your fundamental analysis and you discovered that Bitcoin is a fundamentally good investment to make, to jump in, but then you jump in when it’s at $1000. That’s not a very good place to get in on it.

So you want to make sure that you enter at the right time and when I say the right time, it’s not actually accurate. The reason why is because no matter what type of investing strategy that you use or trading strategy you use, more than likely 2/3 of your investments will not make money. They’ll not be profitable regardless of anyone says.

There are some scalping strategies out there where you are right 50% of the time but the majority of the time when you’re investing into stocks, futures, Forex or anything like that, where you are a trend type trader, you can expect about 2/3 of your trades will not be profitable.

So what that means is that if you know in advance that no matter what you do, 2/3 of your trades will not be profitable. Then what you want to focus on is getting bigger winners and that’s the strategy that Leonfu.com and I use is that we always focus on getting bigger winners, we don’t focus on getting more winners because we already know that when you are a trend type trader or investor, you are always looking for bigger winners.

So keep that in mind guys because whenever you hear somebody talk about their trading system produces 80% winners or 90% winners or anything like that, be very very cautious about that because your typical trend trader or investor is usually right on about 1/3 and on the high end it’s about like around 40% of their trades. So whenever you hear somebody go higher than 40%, be cautious and be careful about that.

And then like I said, this is for a trend type trader. So our investing and trading system is based on the fact that we are looking to capture big trends in the market, so when there’s a huge run-up, we look to capture that entire run-up.

We’re willing to take multiple entries and multiple shots at getting in at that launch of that big trend, even if we’re wrong 3, 4 or 5 times in a row, it doesn’t matter to us because we know that once we capture that one big trend, then that will make all the profits that we need to cover the losses of all the other ones.

So whenever we talk about doing technical analysis, we are talking about identifying where the launch of that trend begins, so that we don’t jump in at the top of the trend. We jump in at the bottom so that we can ride it all the way up.

Now in future videos, I’ll talk about going long versus going short and when we’re looking for the market to fall, we’re looking at short the market and I’ll talk about that in a future video.

So when you do trend analysis, you’re using technical analysis and you’re using candlestick charts, or some type of chart that maps out the action in the market, the price of what things are being traded for and against time.

So there will be time on the horizontal axis, and it’ll be priced on the vertical axis so that we can see at what time people bought or sold something. Now that’s gonna require some practice guys, and I’ll show you guys in future videos on how to practice.

Not just your fundamental analysis, but how to practice your technical analysis also. But we’ll be using a lot of charts to identify like “Hey, this is statistically a good entry point to jump in on this particular cryptocurrency.”

So hopefully this short video guys, in the previous video, gives you an idea of the two types of analysis that you need to become a successful and profitable cryptocurrency investor or trader. If you guys like these types of videos, give me a thumbs up. If you guys don’t like them, give me a thumbs down and then I’ll look forward to seeing you guys in the future video.

If you have some friends, there’s a big wave of people trying to jump into cryptocurrencies right now and if your friends are lost on what to do, make sure that you share these videos with them so that they don’t get lost.

Myself and Leonfu.com, we have lost a bunch of money trying to figure out how to learn, how to invest in cryptocurrencies and a lot of the exchanges that we got or Bitcoins from, they’ve all went out of business, they’ve all been hacked. So we got, you got to be really careful when you’re jumping into this. So thanks for watching this video guys and I’ll see you guys in a future video.

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