1) are there any other trading strategies that actually work? i can't think about any other methods that would make a profit as safe as the one described here and all the strategies i think of are based on emotions ( i _believe_ the price will go up )
There are virtually unlimited trading strategies that work. The purpose of this thread was to show how even the simplest trading strategies yield profit if applied with discipline and risk control.
Some advice for making a strategy would be to write the following on a piece of paper:
- Entry - when will you enter the market
- Exit - when will you exit the market
- Trade size - how much you will trade
- Test your strategy using historic dataThe most important step here is testing. You'll find that if you haven't adequately quantified your methodology, you will be unable to test using historic data. Unfortunately, the vast majority of market participants are not willing to put forth the effort to actually backtest their theories.
2) what triggers the trends? it seems that since i uploaded fiat into my account ( nothing more then i can withstand to lose ) the market has come to a stop. Prices dabble around $122 but nowhere near anything profitable
"What" and "why" are surprisingly deceptive questions. If your goal is to be a technical trader who relies on objective analysis, these questions are deadly. If you are seeking to be a fundamental trader, these are important questions, with one very important caveat: you must test how the market has historically behaved under similar conditions.
The absolute lack of any tangible fundamental information that influences the price of BTC means that you should seriously consider not asking or trying to answer why, what, or how prices move.
The key to successful trading is what I've repeated throughout this entire thread: create, validate, and trade a method with tight control of risk and emotion.