What is going on snipers 90-mile baby here, hope all of you guys are having a wonderful day today
Let's go ahead and dive right into our daily cryptocurrency content for today
I pretty much get this question every single day at least once a day and Nayeem
How do you set up your alerts for your Bitcoin pricing?
What is your strategy with that and I want to talk about that and cover that today? If you guys aren't using alerts?
I highly encourage you to do so as a trader of course legally can't give you guys financial advice
But if I was trading in the cryptocurrency
market
I
Would highly highly encourage you guys to set up alerts for your trades because alerts allow you to be proactive and aware
and if you're not setting up alerts it typically means you're not using strategy and
Going into the market and not utilizing a strategy is a really good way to lose a lot of money
So I'm gonna start this series. Hope you guys enjoy this talking about trading tips and stuff
I know you guys enjoy that content for me, but before we start
Let's go ahead and just quickly give away $100 every single day
We give away $100 on our channel all you have to do is be subscribed have your post notifications on
Like this video and then lastly answer the thought-provoking question at the end of this video
I'm gonna choose our $100 giveaway from yesterday's video and by the way
I'm gonna be posting this on Instagram if you're not following us on Instagram
go to the link in the description follow us on Instagram and
You can go ahead and see if you want our giveaway
If that's you go ahead and send me a message on Instagram you can claim your $100
So let's go ahead and just kind of talk about price alerts, and why you want to utilize that in the Bitcoin trading market
So pretty much with this market. It's extremely volatile so what you're looking to do here is set up a strategy so for example
I'm on a 5-minute chart here. Let's say I was day trading Bitcoin right now, and I was working off the support level
That's built here
You see two supports here around 14 eight nine and then fourteen seven fifty seven
So let's say this was a support level right now that I was actually trading on
what I would want to do at this point is set up an alert a
percentage down just in case
Prices decrease and then percentage up just in case prices increase to indicate when I can sell so for example
Let's say we see that we see some resistance up here around what?
15501 we could say we can assume here, let's say I was swing trading this for the short-term five-minute chart
We could say we can say here. I can put in a position
Right here at the support level. This is very big. You know don't criticize. This is a very basic strategy
I probably wouldn't use this typically in the real world, but I just want to show you guys alert strategies here
So let's say I was to trade here a 14-8 and then sell around 15 for 20 right before
Previous resistance levels what I would want to do is set up an alert right?
over here where I want to trade so I would set up an alert at 15 4 5 3 and then I'll set up an
alert here at 15
4 8 7 and this is just in case
The price hits either point I know when to buy and sell and for my sell order I would more than likely
Set this price right above the actual
support level so that I'm aware of
Exactly when that's approaching especially if I just put in a position of course
I would only put in position if RSI and MACD levels were correct and obviously utilizing my strategy here
But what I would not show you guys here if you guys use trading view the free version allows you to set up one free
Alert, so you go here. It's trading view calm. I'll put the link in the description below
You can click Add alert here, and you only have one
With the paid version you have multiple alerts, I think 10 for the first premium upgrade
But what you guys can do is use this website called coin wing and I've actually used this website before
And it allows you to send email and SMS alerts
I wouldn't recommend
SMS alerts because the SMS alerts are a little bit harder to utilize you have to actually have a phone API system set up
But for the email alert so what I would recommend
See the biggest thing with email alerts most of us don't get our emails notified on our phones at least me
I don't I because I get so many emails, but what you'll want to do is create a new email
So I would go on Gmail or any one of those email platforms create an email
Specifically for price alerts and you can set up as many of these as alerts as you want for free
And then use that email, let's say my email was trading alerts
snipers at gmail.com
So if this was my email that I'm using
specifically for alerts
That all of these alerts will come straight to that email and what I would do on my phone is set up a specific
Notification with push notification so that it instantly goes on my phone as soon as that alert happens
And I would set up like a really crazy ringtone based upon that one
So that as soon as that happens I can go ahead and see that I got a price
indicator here
and then I can make my trade whatever that whether that's me selling or buy or
Maybe you want to just set up price alerts for different reasons or maybe when you want to get into your position however you want
To utilize this so then go ahead and put alert when prices above let's say
In this case if we were going to trade this then we could say alert when price is gonna be above
Let's say fifteen four three nine so fifteen four three nine, and then when price is below
Let's say fourteen eight seven four I would like to know that
As well and then this utilizes a specific price points an average of most exchanges as price points
And that's typically what its utilizing and it's based on coin market cap so this is using coin market caps
Price indicators, so um that's pretty much what I do with these alerts typically
I also set up stop-loss orders as well if you guys aren't utilizing that I would highly recommend that but start with alerts
That's pretty much the most basic way to set up a stop-loss
I guess but if you guys don't have that ability on your exchange
I know a lot of exchanges don't have that like Gemini for example
So this is a good way to still utilize an alert to make sure that you're not losing out on profits
So hopefully this tutorial helped out a little bit. I'm gonna be doing more advanced tutorials as time progresses
I just want to start slow with you guys make sure you guys have a complete understanding of the basics
but that's it for today guys through our thought-provoking question for today's gonna be pretty simple and that's
What do you see the benefit of using stop-loss orders or even using price alerts in Bitcoin trading?
Where's the benefit for you? Do you even see that as a benefit, or do you see that as more of a hindrance?
Just let us know in the comments below most likely gonna be a benefit
There's not really a hindrance to it at all if you're a knowledgeable trader, but with that being said guys
Thank you so much for watching this video
Hopefully this helped out for some of you guys that wanted to get this question answered and until next time guys snipers out
