Kevin Ou – Intro to Cryptocurrency Trading
Beginners Guide to Trading Cryptocurrency from Crypto Millionaire Kevin Ou, who has made over 10,000% returns, turning just $30,000 to $3.3 Million in 6 Months time.
What You’ll Learn In Intro to Cryptocurrency Trading
1. Mindset, Profit Potential, and Tools and Resources
- Mindset (What kind of mindset you need to win)
- Stick with long-term plan
- What is cryptocurrency
- What is blockchain
- Bitcoin VS Alt Coins? (Difference?)
- Top 10 Coins
- Crypto Terminology
- Tools/Resources
- Coinmarketcap, Coinmarketcal
- Spreadsheet for managing crypto
- Tips and strategies to go to research
- Types of cryptocurrencies
- Looks at the results (subtle sway to join fb group if haven’t already)
2. Crypto Wallet Setup and Trading Platforms
- Setting Up Your First Wallet – The Right Way
- Paypal, Robinhood, Coinbase, Coinbase Pro
- Securing Your Wallet (2FA)
- New Account On Crypto Exchange
- Notification & Immediate Alerts
- Storing your crypto
3. Trading (Buy/Sell)/Mistakes To Avoid
WELCOME to module 3 everybody, in this section of the course we will be going over how to really start trading our first cryptocurrency coins. The purpose of this course is to help you guys develop a good understanding of the basics of trading, as well setting up the foundation for you guys to learn the proven cryptocurrency trading strategies that have helped experienced traders and some of our students, make 20,50, even 400% returns.
- This module outline goes as follows:
- Things to Remember Before You Start Trading
- KYC (Know Your Customer for higher limits)
- Buying Binance or Kucoin tokens for cheaper trading fees
- Support Available in case anything goes wrong
- Sometimes things go wrong with exchanges, you might even forget your password or lose access to your account. Most exchanges have a pretty good support team so make sure you’re taking full advantage of that.
- Changing overlay settings light/dark whatever works best for you
- Trading Overview
- Fast Convert Method
- Placing trades (show placing a trade then the balance in the dashboard and wallet)
- Basic Overview of Trading: Candles, Charting, Volume? Limit Orders, Stoplosses (Order book, Trade history)
- Transferring to wallets on different exchanges
- How to Exchange between Cryptocurrencies
- What to Look Out for When Buying Cryptocurrencies
- Different from traditional stocks
So clearly cryptocurrency investing is very different from stocks right? When you value a company traded on the Nasdaq, you can use several factors to determine whether or not the stock is worth its price right now like price to earnings ratio, or by looking at its balance sheet, income statements, BUT when it comes to crytptocurrency its not always black and white, or laid out for you, in my opinion its harder to value a cryptocurrency coin but over the years I have traded crypto, I was able to formulate my very own checklist of factors that tell you as an investor, whether or not it is fairly value and if it has potential to make big gains.
- Valuing Cryptocurrency Coins (Marketcap, Upcoming Events, Use Case, Availability on Exchanges)
- We covered marketcap in the 2nd module so we know it is one of the main benchmarks that we can use as investors to measure the value of one cryptocurrency coin to another.
- Another
- Online Communities: Are People Talking About It?
- How to Cash Out
- P2P Exchanges
Person to person, I wouldn’t recommend trading crypto person to person since there are some risks and you would be selling or buying your crypto at a premium of 5%, so generally for every $100 of btc you sell youd lose $5. While on exchanges you can probably get closer to 100%, I’m just mentioning P2P exchanges as another possible way you can sell your crypto quickly for other payment methods and even cash if the need arises.
- Attaching Bank Account on Exchange
- Mistakes to Avoid
- Mindset Review
- Managing Emotions
- Dollar Cost Averaging
- Setting a Stoploss
- Going over candles
- Understanding basic charting
- What To Look Out For When Buying Cryptocurrencies
- Buying Your First Cryptocurrency
- Examples of buying different cryptocurrencies
- Exchanging between cryptocurrencies
- Transferring to different wallets
- Coin valuations (how it works)
- Converting to fiat currency
- Scams
- Mistakes to Avoid
- Managing Emotions
4. Strategy/Exit Plan Cryptocurrency Profitable Trading Strategies
You finally made it! This is the last module for this course, but also the most important one, in this module I will be going over the following:
- How To Trade & Strategy Overview
- Determine What Type of Trader You’re Going to Be
- Day Trader (Holds positions for hours, heavily influenced by technical indicators)
- Swing Trader (Hold positions for several days to 1-2 weeks)
- Long Term Investor
- Ways to Play it Safe, if you’re a more short term type of trader, in the event of a bear market, you would always be able to convert your crypto into USDT to shelter your portfolio.
- Diversify Your Portfolio
- The Basics of Technical Analysis
- Tradingview Introduction (think I went over it in previous lessons already)
- Candlesticks and how to read them
- The Importance of Time Frames with Candlesticks/ 5min, 15min, 30min, 4hr, 1day
- EMA, Moving Averages What They Are Basic Graph Overview
- Profitable Technical Indicators
- When to Use Technical Indicators
- The Trading Work Flow
- Where to Find Potential Winner Coins
- Apply Due Diligence/ Analysis for Cryptocurrency:
- Market Cap, Events, Use Case
- Entry/Exit Strategies
- Mindset: Dollar Cost Averaging
- You will never get the perfect entry and its so common for traders to lose money when trying to find the perfect entry point. Its best to apply dollar cost averaging when trying to enter in a trade
- Using Technical Indicators to Determine Entry Points
- Taking Profits: Exiting with A Plan
- Remember you’re entering into trades with a strategy to reduce emotional trading, depending on a lot of factors like volume or technical analysis of the charts and determining whether or not a coin’s hype is done according to online community groups, take profit of half your position at your intended exit % gain.
- Using Technical Analysis with News Catalysts
- How news events effects cryptocurrency coins
- How to use Technical Indicators in tandem with News Catalyst Events
- Draw comparison to the stock market and Quarterly earnings reports and how even on good news a coin will dump at the time of the event because its already priced in. So timing is everything
- The Importance of Market Cycles:
- Comparing 2017’s bull run with 2021’s The Future of Crypto
- Conclusion
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