Thank you so much philakone for your hard work and taking the time and effort to help us newbies get a decent start.
The most important thing you said was back test whatever strategy you want to use, sim, then live.
I currently been sim trading BTCUSD, but would like to add 2 more markets for study incase one is too choppy or stale
May I please have some help as I am bit new to cryptocurrency market, but not new to TA study?
Questions please:
1. Do you use Bitfinex as your chart analysis and broker as well to day trade all 3 coins?
2. For now, I work a full time job, and I use MT4 mobile (at work to watch the charts every hour or so) and desktop app (at home) with SimpleFx as my broker. What timeframe do you recommend for my case? I was thinking of just watching the 1 hour chart once per hour for long buy and sell swing trades.
3. What stop loss do you recommend if starting with $200 - $300?
4. Do you have a video on how to increase lots size as account balance increase?
5. Do you recommend trading with coins or just deposit cash in the account? Like you, I don't care about buy and hold forever.
6. I plan to manual back test a few methods over the weekend. Do you have a spreadsheet you use to determine if a strategy is profitable?
7. Do you back test by or some type of market replay software?
8. After backtesting, how do you make the decision if a strategy is profitable, decent drawdown, or worth going sim/live with?
9. How many trades do you use to have statistically confidence in a method?
9. Do you know of app that can alert when EMA crossover occurs?
10. What are you thoughts on programming and backtesting a bot for testing ideas?
Thank you kindly for help