Hello BT Family. I pray everyone is doing well.
Below are some key bits of info you might want to keep in mind over the next few weeks ahead.
Previous Mentor’s Memo Post
If you did not see the link or need to review what was said in the last memo post, please click here to view it…
NOTE: A new button has been added to the Main Page for easier access to all of the Mentor’s Memo posts.
Some Trading Setups By Who I’m Following
From time to time, I might post some trade setups from guys that I follow between YouTube, Telegram, Discord & Twitter. Most recently on 3/1, Crypto Rand posted something in his Discord group. Please see the screenshot below.
Basically, he’s suggesting to keep an eye on the following coins over the next few weeks: ADA, BNB, XRP, SOL, LUNA, DOT, AVAX, MATIC & ATOM.
Weekly Challenges – Did You Know???
I want you to know that I am extremely proud of everyone who has participated in the weekly challenges since we started the newer formats in December 2021.
What you probably did not know about yourselves is that these challenges are a way for you to “see how you do” in a trading setup during the most difficult times to trade in this bear market.
Give yourselves a pat on the back. Everyone has picked a trade at least 2-3 times since the major market dump in January 2022 that has produced a profit “if it were a live trade”. 🙂
Feeling Bad About Your Trading Performance???
I have gotten some comments from a few people over the last couple of months suggesting that they are either very upset that they are not earning good in their trades; or their trade decisions are making them feel like they cannot do this type of trading anymore because they are losing.
I have to give you a bit of insight on what you need to focus on. Especially if you want to master the craft of good to great trading. 🙂
- Markets go in waves. You cannot be perfect at any time to get the bottom of the wave or know when the wave has reached its actual peak. You must take notes of what went right and wrong to prepare for the next time you make your trade decisions.
- In a bear market, you will never regain your previous losses in a short period of time “in most cases”. So, do not sit around waiting for the market to just jump into the bullish world. Take what the market gives us and play with that for the time we are in.
- Do not compound your problem by “thinking” you are jumping into a trade at the right moments. Ensure you have gone thru your buyer’s checklist regarding the RSI levels and market structure pattern to make your best decisions when buying and/or selling.
- If you look at the January CPFT results, please tell me where anyone could have really earned much in any trade. LOL. When I saw that table, I could only squint my eyes and open slightly with one eye to see if I was looking at the reality of only a 50% effective rate of earning a 10% gain on any of those picks for the entire month.
To view the CPFT results of January, simply visit the CPFT page and look at the table for previous month’s results and find the table for January 2022. Much RED to be seen there. Blood bath for sure…LOL.
As you continue to trade every day, week and month. You will surely come across periods of time that are not so nice to you. But, you must keep a positive mind open that nothing continues to go up and nothing continues to go down in this market.
Q1 Trading Gems Update
Now that we are in March, it’s time to take a look at the current status of what my Q1 trading gems are based on my forecast given in mid-late January to earn into March-April.
The current status and analysis of each coin will be finally determined “IF” the market does reach the projected peaks that were mentioned in the January analysis.
No matter your decisions, always use your stop limit strategy until the market has reached at least the 20% gain level for your trades…
- ROSE – current price $0.24 USD is well below the previously reported major support price of $0.30 USD; great bargain buy at current price.
- HBAR – current price $0.218 is right at the previously reported major support price of $0.22 USD; still a good buy at this level for max possible profits.
- ENJ – current price $1.45 USD is well below the previously reported major support price of $2.10 USD; great bargain buy at current price.
- HIVE – current price $0.98 USD is slightly above the previously reported major support price of $0.93 USD; can still consider to buy at the current price for possible projected max profits to be seen.
- ATOM – current price $32.00 is above the major support price of $21.30; price did drop to $22.00 prior to now; buying at the current price is still a good position for nice possible gains based on projected peak price.
- RACA – current price $0.00157 USDT is below the previously reported major support price of $0.00206 USDT; great buy at current price for possible max profits based on projected peak.
- FTM – current price $1.85 USDT is well above the previously reported major support price of $1.26 USDT; market dropped as low as $1.31 on 2/24; buying at current price or below is still a good position based on possible market peak to be seen soon.
- ALGO – current price $0.87 USD is well below the previously reported major support price of $1.29 USD; great bargain buy at current price for possibly higher profits than originally projected.
- SUSHI – current price $2.82 USDT is well below the previously reported major support price of $5.05 USDT; great buy at the current price.
- SYS – this coin is being added after the survey from the group for which coin to make #10; current price today is $0.58 USD; pattern is in a possible head of an inverse head and shoulders; according to downtrend line on the daily chart we could see a breakout by end of March into April and retest higher prices near the last peak of around $1.20 USD; if price does reach this level in the near future, it would be around a 90-110% gain opportunity.
