Curriculum

Trading Charts

Cryptocurrency Trading

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TradingView.com (TV)

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TV Indicator Algo

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Auto Trading Bots

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Video lesson

TradingView Mobile App

In the ever-evolving world of finance and investing, having the right tools can be a game-changer. The TradingView mobile app serves as a comprehensive platform for monitoring and analyzing various asset classes, including cryptocurrencies, stocks, and Forex. Understanding how to effectively use this app is not just beneficial, it’s essential for anyone looking to thrive in today’s digital trading environment. This lesson provides insights into the key features of the TradingView app, emphasizing its importance in both traditional finance and the exciting realm of cryptocurrencies and blockchain technology.

Core Concepts

Watchlist:
- Traditional Finance: A watchlist is a curated list of stocks or financial instruments that an investor tracks for potential trading opportunities.
- Crypto World: Similarly, in crypto, a watchlist allows you to keep an eye on your favorite cryptocurrencies or tokens, helping you identify buying or selling opportunities.
- Importance: Understanding the watchlist feature helps you stay organized and focused on the assets that matter most to your trading strategy.
Alerts:
- Traditional Finance: Alerts notify investors of significant price movements or news related to specific stocks.
- Crypto World: In cryptocurrencies, alerts can notify you of price thresholds or market changes, which is crucial given the market’s volatility.
- Importance: Setting alerts ensures that you never miss an opportunity, allowing you to act swiftly in your trading decisions.
Charting:
- Traditional Finance: Charts are integral for analyzing price movements and trends, helping investors make informed decisions.
- Crypto World: Charting tools in the crypto space are essential for understanding market dynamics, given that prices can swing dramatically.
- Importance: Proficiency in reading charts enhances your analytical skills, which is vital in both traditional and crypto trading.
Indicators:
- Traditional Finance: Indicators such as moving averages or Bollinger Bands offer insights into market trends and potential price movements.
- Crypto World: Indicators are equally relevant in crypto, helping traders assess market conditions and make informed decisions.
- Importance: Familiarity with different indicators empowers you to leverage technical analysis effectively in your trading strategy.
Asset Classes:
- Traditional Finance: Various asset classes, including stocks, bonds, and commodities, have defined characteristics that influence investment strategies.
- Crypto World: Cryptocurrencies represent a new asset class with unique traits, such as decentralization and blockchain technology.
- Importance: Understanding the nuances of different asset classes aids in diversifying your portfolio appropriately.
Economic Calendar:
- Traditional Finance: An economic calendar lists important upcoming events that may affect market conditions, such as earnings reports or economic data releases.
- Crypto World: Events like regulatory announcements or major updates in blockchain projects can similarly impact cryptocurrency prices.
- Importance: Keeping track of advancements ensures you are always prepared for potential market-moving events.

Key Steps to Mastering TradingView

1. Set Up Your Watchlist

Key Points:
- Add symbols from various asset classes, including stocks, ETFs, and cryptocurrencies.
- Create multiple watchlists catered to your specific interests.
- Use color flags for quick sorting and organization.
Detailed Explanation:
Setting up a watchlist in TradingView allows you to monitor assets that catch your attention. It’s not just about convenience; it’s about proactive management of your investments. By categorizing stocks like Tesla and cryptocurrencies such as BTC USD, you position yourself for quick decision-making when market conditions shift. Adding a Forex pair can also diversify your observations, making it easier to analyze broader market trends.
Crypto Connection: In the crypto world, having a well-structured watchlist can alert you to sudden price changes, while giving you the ability to track developments among your chosen tokens.

2. Utilize Chart Features

Key Points:
- Navigate different time frames to observe patterns in price movements.
- Customize charts to suit your trading style.
- Use technical indicators to refine your analysis.
Detailed Explanation:
The charting feature is where the magic happens. As you tap into different time frames—from minute charts to daily—you’re able to grasp the short-term and long-term movements of your assets. Customizing your charts can include adding various indicators like Bollinger Bands or Moving Averages. Each adjustment brings you closer to understanding your trades in a nuanced manner.
Crypto Connection: In the cryptocurrency market, where volatility reigns supreme, being able to quickly switch between timeframes can provide valuable insights into potential rapid movements—something not typically as pronounced in traditional markets.

3. Set Alerts for Key Movements

Key Points:
- Easily add alerts for specific price points.
- Customize alerts based on your trading strategy.
- Stay informed on price breaks and movements.
Detailed Explanation:
Setting alerts is like having a personal assistant that nudges you when your asset hits that sweet spot. When you customize alerts, you can align them with your trading plan—perhaps getting a notification when Bitcoin surpasses a certain price point. This feature can prevent missed opportunities that could impact your overall performance.
Crypto Connection: Alerts in the crypto world take on heightened importance given the inherent volatility. Quick notifications can enable decisive action, distinguishing between profitable and missed trades.

4. Explore Asset Classes and Ideas

Key Points:
- Navigate through different asset classes to broaden your market understanding.
- Engage with ideas published by the TradingView community.
- Discover trends and trading strategies from professional traders.
Detailed Explanation:
The exploration feature on TradingView isn’t just about learning; it’s about connecting with others who share your interest. By engaging with different asset classes and ideas, you can absorb insights from a global community of traders. Whether you’re looking into macroeconomic factors or the latest cryptocurrency trends, this feature centralizes vital information at your fingertips.
Crypto Connection: The collaborative aspects of the platform can foster new ideas, particularly in the rapidly evolving cryptocurrency sector, where knowledge sharing can lead to trading success.

5. Understand the Economic Calendar

Key Points:
- Access critical upcoming events that can influence market dynamics.
- Prepare for volatility during major announcements.
- Utilize the calendar for strategic trading decisions.
Detailed Explanation:
The economic calendar is your roadmap to foresight in the markets. Each date marked holds the potential for price fluctuations driven by economic reports, corporate earnings, and significant geopolitical events. By keeping an eye on these happenings, you may proactively adjust your trading strategy to mitigate risks or seize opportunities.
Crypto Connection: Similar calendar events exist within the crypto ecosystem, from protocol upgrades to regulatory announcements that might shake the market. Thus, being aware can allow you to better position yourself amidst changing tides.

Crypto Trading

Each core topic in this lesson connects to the dynamic world of cryptocurrencies. For instance, while managing a watchlist traditionally revolves around stocks, it now expands to incorporate a wide range of digital assets—letting you diversify beyond conventional markets. Similarly, the analysis techniques you apply using indicators and charting tools can directly transfer over to crypto trading, enabling more informed decisions in this less predictable environment.

Charts become crucial in a landscape where prices ebb and flow dramatically, and the added functionality of tracking alerts ensures you’re always ready to spring into action. Ultimately, TradingView’s features not only transform traditional trading methods but also encourage effective practices in the cryptocurrency realm, making your financial journey as smooth as possible.

Examples

Unfortunately, the provided transcript did not mention any specific charts or visual aids from the TradingView app. However, I encourage you to consider enhancements that might include real-time price changes or comparative trends between traditional and crypto assets.

Hypothetical Examples:

Stock vs. Crypto Dashboard: Imagine viewing a dashboard where you can seamlessly switch between Tesla stock and Bitcoin prices, using the same technical indicators to analyze both. This would help you see price correlations or divergences in reaction to market events.
Alerts on Price Movements: Let’s say you set a price alert for Ethereum at $2,500. When it triggers, you’re instantly notified, allowing you to consider selling or buying in an opportune moment—just as you would with a stock when it hits your target.
Using Economic Calendars: If you knew of an impending Bitcoin halving event (which often influences price), you could prepare your trading strategy around it, akin to preparing for a major earnings report in traditional stocks.

Real-World Applications

With the development of cryptocurrencies, the traditional concepts of finance are shifting. Historical trading dynamics are playing out differently as blockchain technology disrupts everything from decentralization to transaction efficiency. For instance, as central bank activities influence traditional finance, similar regulatory news can drastically swing cryptocurrency markets.

Consider the rise of Bitcoin: Initially ignored by mainstream finance, it now commands attention, influencing trading strategies across global markets. In this way, your ability to bridge traditional finance with blockchain technology and cryptocurrencies sets the stage for successful trading moves.

Cause and Effect Relationships

In trading, a cause such as an earnings report can lead to an effect—e.g., a stock price rapidly rising or falling. In the cryptocurrency realm, the same holds true; news about regulatory changes or partnerships can create swift shifts in a digital asset’s price. Recognizing these relationships lets you navigate the markets with more foresight.

To extend this further, if a major exchange announces support for a new cryptocurrency, it could catalyze rapid demand, reflecting a direct cause-and-effect relationship that mirrors trends often seen with stocks and other financial instruments.

Challenges and Solutions

Despite its advantages, TradingView, like any tool, presents challenges. For instance:

Complexity of Features: New users may find the array of tools overwhelming. However, starting with basic functionalities can ease the learning curve.
Volatility in Crypto: Crypto markets can behave unpredictably. Utilizing alerts and economic calendars nurtures preparedness in managing these rapid changes.

Common misconceptions newcomers may have include thinking that cryptocurrency trading is merely speculative. In reality, with research, charting, and data analysis—similar to stock trading—strategic approaches can yield informed decisions on asset management.

Key Takeaways

Utilize a Watchlist: Keep an organized list of assets, both traditional and crypto, to focus your monitoring efforts.
Set Alerts: Taking advantage of the alert system aids in timely decision-making based on price movements.
Master the Charting Tools: Understanding chart functionalities can enhance your technical analysis, allowing you to identify trading opportunities.
Explore Ideas: Engage with community insights to diversify your trading strategies and keep abreast of market trends.
Monitor Economic Calendars: This helps you anticipate market movements and adjust your trades accordingly.
Understand Asset Classes: Familiarize yourself with the properties and dynamics of various asset classes, including cryptocurrencies.
Be Proactive in Education: Continuous learning and adapting to changes in both traditional finance and cryptocurrency landscapes is vital for success.

Each of these insights is crucial for navigating both traditional and crypto markets effectively. Embracing this knowledge sets you on the path to becoming a confident trader, armed with tools and strategies to excel.

Discussion Questions and Scenarios

How does an economic calendar influence trading decisions in traditional finance compared to cryptocurrency trading?
What are some advantages of using alerts in the context of high volatility assets like cryptocurrency?
In what ways might the principles of managing a stock watchlist manifest differently with crypto assets?
How do you perceive the role of community insights shared on TradingView in shaping trading strategies?
Compare and contrast the technical indicators commonly used in stock trading and cryptocurrency trading—are they fundamentally similar or different in their applications?

Glossary

Watchlist: A curated list of financial instruments that investors monitor for performance and potential trades.
Alerts: Notifications set for specific price movements or market events related to an asset.
Charting: The practice of using graphical representations of price movements to analyze historical and potential future trends.
Indicators: Tools used in technical analysis to help predict future price movements based on historical data.
Asset Classes: Different categories of investments, such as stocks, bonds, and cryptocurrencies.
Economic Calendar: A schedule of upcoming events that can influence market conditions and investor decisions.

As you embark on your journey to becoming a savvy trader, remember that tapping into educational resources empowers you to make informed and confident decisions.

Continue to Next Lesson

Excited to explore further? You’re just scratching the surface of what TradingView and the world of cryptocurrency have to offer. Get ready to dive deeper into advanced trading techniques and strategies in the next lesson of the Crypto Is FIRE training plan. Your journey towards financial mastery continues ahead!

Read Video Transcript

TradingView Mobile App: Tutorial for Traders

https://www.youtube.com/watch?v=KHiS8gBLXjs

Transcript:

Welcome to the TradingView Mobile app where we are currently starting on the watch list and we will work our way through the chart, explore, ideas, and menu. Starting with the watch list, take a look at the symbols we have added here including Tesla, Apple, Alphabet, Nvidia, the QQQ ETF, and BTC USD.

The point here is you can add multiple symbols to your watch list and across all asset classes so if we wished we can click add a symbol as you just saw then type in the symbol name and add that symbol to our watch list and just like that we have now added a forex pair to our watch list as well we have crypto etfs stocks and a forex pair we could add futures as well keep in mind you can have multiple watch lists you can manage them all right here at the top left and for example here are all of the different watch lists that we manage with different points and reasons for creating such watch lists we can also add

color flags to specific symbols to sort them in another custom way that we wish let’s click back here go back to our watch list because now we want to show you that if you tap a symbol on your watch list, you’re going to get a wonderful preview that looks like this.

You even have some preset timeframes that you can quickly access at the bottom. And of course, if you wish to add an alert, you can click the alert icon and very quickly add an alert, customize the price as needed, any level that you want. And just like that, we’ve set an alert. There’s also a buy button if you have a connected brokerage and you could go to the main chart as well and see some key stats and details at the bottom.

Let’s go ahead and go back to our watch list though, because now that we’ve covered the watch list, we want to make sure that we take you to the chart. We’re going to tap the chart icon and now we are on the chart that many of you have come to learn, love, and master. So what we did just there is we moved to a different time frame.

So once you do get familiar with your chart you can very quickly access different time frames for you depending on your trading style or what it is that you want to see so we just bounced around there from different time frames including getting to a daily chart it now says one day so that’s the first thing to know next up is that you can change the symbol at any point in time at the bottom left with a tap and symbol similar to adding a symbol to your watch list just go ahead and type in the name of that symbol and you can have that chart very quickly added front and center on your mobile screen you’re also going

to notice some key details here we can see some indicators that are added to our chart we can see a sell button and a buy button if we’re mobile trading, the name of the company, and the price. Keep in mind, this is your price scale on the right. This is your time scale at the bottom.

And at any point you wish, you can customize all of this by clicking the settings menu to customize the chart in the best way that works for you. Now, at the very bottom, you’re also going to notice off to the right this is where you can access your alerts, your drawing tools, and much more. If we click the plus icon we can very quickly add drawing tools.

We can add indicators, alerts, compare multiple symbols, symbols, access templates, add this symbol to our watch list, share a chart picture, or create an idea. You have the capabilities to access all of this once you have our mobile app and you click the plus button. For example, if you wanted to add an indicator to the chart, just click indicators, go ahead and search for the indicator that you are looking for. How about we type in Bollinger Bands.

Many of you are familiar with Bollinger Bands. There they are. We’re going to click. Let’s exit out. And we’ve now added Bollinger Bands to our chart. And we can see that on this exact view. Of course, there is this drawing icon as well. And if you want to draw on your chart, a trend line, a Fibonacci retracement, or anything else that scrolls across this menu or up and down, you can access that as well.

This means you can do drawings directly from your mobile device. The three dots here are the final thing we want to show you because of course this will let you optimize your full screen mode connect a broker get some security details if you’re looking at a stock you can access financials forecasts technicals chart type and alert management so there is quite a bit to learn and Master here and probably the key things to take away from the chart feature when you have it selected is to know you can change your symbol here change your time interval here add indicators and drawings and other tools like

alerts with the plus access some customizations related to drawing tools and the entire drawing tool menu with the drawing tool icon. And then of course, when you’re ready to go a bit deeper and access some more details, for example, why don’t we look at technicals? You can use the three dots at the bottom, right, to see this data as well.

Moving on, we can click the explore tab to read about different asset classes that interest us. So as you you can see here we just went to economy bonds futures forex and we can see some important prices and news flow right before our eyes moving off to ideas well the social network on tradingview does publish ideas we can look at editors picks to see what the editors are picking we can see who we’re following or sort by the asset class or region of the world as we wrap up this video it’s important to remind you that in the menu you can see everything about your profile so if you wish to make changes to your profile

see who you are see what links you’re showing that’s all just a tap away and then of course you’ve got your news here your economic calendar chats settings once again you can scroll down to access some other important features to follow us and to learn more about the mobile app.

But we do want to take a second to show you the economic calendar, because if you happen to be a Forex trader or a macro trader, you’re going to want to know where to see this so that you can see all of the upcoming events. Let’s tap menu to go back.

And now, ladies and gentlemen, with that being said, we have introduced you to our mobile app, starting with the watch list, now to add symbols to your watch list, moving on to the chart and all of the features you love, especially around adding indicators, drawings, tracking your favorite symbols, and of course, changing symbols effortlessly or the time interval effortlessly. And no matter where you are on the planet, as long as you have a stable internet connection, you can access these symbols and watch them trade.

Then for more information, use the explore and ideas tab to meet other traders and learn about markets, get some interesting news articles. And your menu is of course specifically for you and the things that are relevant to the things that you want to follow across markets or change within your profile.