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How to Trade Double Tops And Double Bottoms
 With Up to 79% Winning Percentage

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Double Tops

Many of my clients acknowledge that my FREE double top and bottom indicator is a very good indicator for intraday trading across various markets. This includes forex, stock indices, commodities and futures.

But there is a simple trick or a method that you can apply to greatly improve the performance of this Double Top/Bottom indicator. On average, my indicator currently gives a 57%-win rate. But using the methods I outline below, you can extend your wining rate of trades to as high as 79%.

This is no marketing hype but mere common sense and understanding of how the financial markets work. So, read on to know more.

As I explain this indicator, you will see why it can give you up to 79% winning trades using some simple methods.

But before we go into the details of how to use the double top/bottom indicator, I want you to understand the concept before you start using this great tool.

The reason is that, when you understand the concept that I teach, you can use this indicator to dramatically improve your trading performance. In fact, you do not need to stick to the four methods that I outline here.

You can very well experiment on your find and something that is unique to you and works for you to improve your trading.

Up to 79% winning trades with the Free Double Top/Bottom Indicator:

The double top and double bottom indicator is a simple yet robust trading indicator. It is available free of cost and you can download it to see how well it captures the double top and double bottom patterns in the market.

Forex chart

By just following my advice and reading below, you can improve your results by up to 22% with this indicator.

A simple way to understand what I’m about to teach you is by this example.

If you want to cross a street with heavy traffic and not get hit by a vehicle, then you need to be patient until you have a high probability to get to the other side safely. My trading concept is no different to this.

You already know how to cross the street. What I will teach you is when you should cross the street safely.

This is the same philosophy in my trading.

You should only trade those signals that give you a high probability of winning. In the rest of this article, you will learn how to do this.

The 1 + 1 = 3 Effect

chart

Yes, 1 + 1 is not three. But in trading, you can have the effect of 1 + 1 = 3.

This is because when you combine two edges rather than one, your trading performance will simply skyrocket. This simple tweak can improve your risk-reward ratio tremendously.

Of course, you have to put in some effort on your end as well.

The 1+1 =3 effect is the very concept behind increasing your winning percentage to up to 79%.

In my Free Telegram group, I select only those double top and bottom signals from the M30 and H1 time frame if they have an edge. How do we find this edge, you ask?

We look to the bigger time frame such as the H4 and D1 which will enable use to edge to our advantage. We combine the larger and smaller time frame charts to get this envious edge in the market.

M30/H1 Signal + H4/D1 Edge = 3 Times Better Trading!

Yes! As you can see above, we use the larger time frame charts to give us the edge to trade from the smaller time frame chart. There are of course different signals that you can trade. This combination is what I will teach you on how to improve your winning performance.

A Mechanical Winning Percentage of 57%

If you are thinking where I got the above number from, then below is an explanation. It is not made up, but rather an enthusiastic member of my group stumbled upon this when researching the winning probability of the Double Top/Bottom indicator.

Recently, a member of my Telegram group analyzed 182 signals that were sent to the community during a span of the past 10 months.

The signal was based on the double top and bottom indicator which also gave an exact entry, target and stop price level. The risk or the distance between the entry and the stop loss level had a ratio of one. In other words, the risk/reward ratio was 1:1.

A profitable trade was identified as followed for the purpose of this analysis:

  • If price moved from the entry price with at least one time the risk into profit, then this was a winning trade
  • Thus, a risk/reward ratio of 1:1 was used in this analysis.

In the next screenshot, you can see the mechanical signals from the Free double top and bottom indicator. This produced 57% of winning trades out of 182 signals over 10 months.

The 57% of winning trades is already outstanding for a mechanical trading system. Most would agree!

A mechanical trading system can be compared to a set of rules for a blind and a deaf person who wants to cross the street. They can’t hear or see the street. They only walk to the other side.

A mechanical trading system is a type of a tool that will ensure that the blind and deaf person crosses the street safely simply by following the rules.

The next chart below is a screenshot from the analysis that was done.

The conclusion of the study was that the free double top and bottom indicator had a 57%-win ratio which reached the initial profit level which was the same as the risk.

Chart

But you can greatly improve the win ratio by just using common sense 🙂

Increase your win rate to 79% with applied concepts

If you apply the concepts that I will teach you, then you can improve the win ratio from 57% to 79%. I will show you how you can use simple logic to achieve this. It is as simple as waiting for the traffic to allow you to cross the street.

The member of my Telegram group also conducted this analysis to see the improvement in the performance.

I will teach multiple strategies on how to select the best double top or bottom trading signals. By using this concept, the strategy quickly improved to 79%-win rate.

forex 1

forex 2

How is this performance increased possible? Read further! You can pick and choose from any of the concepts that I will explain below. It is best that you find one concept from the below which you are comfortable with and keep practicing it.

Strategies to select high probability trading signals!

Just like there are many ways to cross a street, I will also show you the different strategies you can use to trade only the high probability setups. I will explain these multiple strategies very briefly in this article, so you can get an understanding.

You do not have to use all the strategies mentioned. Just pick one that you line and you will automatically see an increase in your trading performance with a factor of 3!

Here are the strategies we use to get that winning edge:

Strategy #1: H4 Divergence for M30/H1 signals

Strategy #2: Trading signals directly at the trend line

Strategy #3: Trading signals when a trend line is broken

Strategy #4: M30/H1 Signals After Steeper Trend Lines

Strategy #1: H4 Divergence for M30/H1 signals

The first strategy is making use of divergence on the H4 chart to trade the double bottom and top pattern on the 30-minute or 1-hour chart.

The next screenshot gives an example of an effective trading set up. This is when a double top or a double bottom pattern is formed on the smaller time frame chart such as the M30 or H1 time frame.

We trade this pattern only when there is a MACD divergence on the H4 chart.

In the article, you will come across divergence analysis of over 34 instruments on the H4 time frame.

The screenshot shows how a double bottom can be traded within the bullish divergence of a MACD on the H4 chart. It is as simple as that!

forex 9

The next chart shows a double top pattern that is formed within a bearish MACD divergence on the H4 chart.

forex 8

Strategy #2: Trading signals directly at the trend line

A trend line is probably the most important tool you can use to gauge the trend of an instrument. Double top and double bottom patterns that form directly at the trend line and in the direction of the trend can greatly improve your probability of winning trades.

This is because the trend from the larger time frame carries the price away from the entry point as you use the smaller time frame to pinpoint the trade entry with precision.

We start with drawing trend lines on the H4 or the D1 chart time frames. This becomes your major reference point.

The chart below illustrates a double bottom pattern that appears directly near the trend line.

forex 7

The next screenshot below shows a bearish double top pattern formed near the falling trend line.

forex 6

Strategy #3: Trading signals when a trend line is broken

The next strategy is using the trading signals when a trend line is broken. Finding a double top or a double bottom pattern after a trend is broken is a great way to picking successful or high probability trades.

Finding the double top and bottom pattern after a trend line break can be compared to a football that is held under water. You know that the football wants to pop up above the water line. It is the same case with this strategy.

You can expect price to rapidly rise after the double top or bottom is formed when a trend line is broken. Price action is quite volatile here and this set up can give big results very quickly.

forex 5

The screenshot above shows a double bottom pattern that is formed after a falling trend line broken. In the next screenshot below, you will see a double top pattern that is formed after a rising trend line is broken.

You can expect a big move once this pattern appears right after a major trend line break.

forex 4

Strategy #4: M30/H1 Signals After Steeper Trend Lines

Trading with the steeper trend line set up is yet another way to capture the big move in price just before it happens.

In this strategy, we look at two trend lines. The first trend line is a major trend line and is often sloped at a 45-degree angle. This is the major trend line that is respected and can potentially signal a trend reversal if it is breached.

The second trend line or the steeper trend line is smaller in scope. At the same time, this second trend line is steeper compared to the first trend line. The second trend line can slope to an extent of 60 degrees if not more.

Between the two trend lines, there is a significant space. This space is your profit potential. The entry of the double top pattern (between the two rising trend lines) or the double bottom pattern (between the two falling trend lines) is the trigger for the trade.

The following screenshot shows such a steeper trend line setup:

forex 3

Also, my trading system V-Power (a day trading system for trading reversals) can highly benefit from such steeper trend line setups.

Conclusion:

As you can see from the above, the presented “1+1 = 3” effect is a great way to increase the performance of your trading. This effect is universal in the financial markets and is not just limited to forex or futures.

In fact, this effect is not bound to the signals of just the double top or the double bottom indicator. For example, you could also use my MagicEntry-system (a momentum trading system) which will give you the same desired effect when you use the bigger picture to your advantage.

Make use of the “1+1 = 3” effect and see the results with your own eyes.

This article was contributed by Mike Semlitsch, founder of PerfectTrendSystem. 

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this paid sponsored post.

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A Safer and More Secure Alternative to Paxful to Buy Bitcoin In Nigeria CoinCola

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CoinCola

Bitcoin trading has become a phenomenon in the financial landscape since the creation of the cryptocurrency in 2008. Due to the potentials of Bitcoin as a currency and an investment, the cryptocurrency has gained popularity in Nigeria.

However, due to the problems that the country has faced in the past regarding cybercrime, it is difficult to get Bitcoin directly from local currency on most central crypto exchanges. This has given rise to decentralised exchanges where buyers and sellers meet to transact in Bitcoins and other digital assets.

Paxful is the most popular platform for Nigerians

The most popularly used platform for purchasing cryptocurrency is Paxful. The platform which was launched in 2015 provides an environment for buyers and sellers to interact and make transactions.

Paxful

Paxful has Become a Haven for Scams

Although Paxful provides a simple and easy platform for trading, it has gained a tainted reputation in the past few years. 

One major problem that Paxful has suffered in recent years is the accusations of scam by users on the platform. Paxful does not do much on its security as the platform has become overrun with scammers.

Paxful forum is filled with several comments from users about how funds have been missing from users wallets with no reason offered by Paxful. There have been accusations of buyers using chargeback scams whereby transactions would be made via PayPal.

When the Bitcoin or Gift card purchase is made, the buyer will open a dispute on PayPal reversing the transaction, thereby robbing the seller of his money and also stealing the digital asset on offer. These problems keep up mounting, but Nigerians have continued to transact on the platform due to lack of a viable alternative.

However, this is set to end with the arrival of Hong Kong-based Bitcoin trading platform CoinCola. The reputable exchange platform has rolled out its services to Nigerians as it looks to take a major share of the market.

CoinCola

How Does CoinCola Compare with Paxful?

CoinCola implements similar features with Paxful as it is an OTC (Over the Counter) exchange that allows buyers to sellers. Sellers can also exchange digital assets such as gift cards for Bitcoins and vice versa. Users can also buy Bitcoins from other sellers on the platform.

This looks similar to Paxful, but where CoinCola stands out is in terms of security. The HongKong bases platform takes the security of users seriously and is considered as one of the safest OTC exchange platforms.

There are little to no cases of scams on the platform with several positive reviews about CoinCola regarding its services.

CoinCola Uses Real Name System to Prevent Scams

CoinCola utilises a unique Real Name System for traders to avoid scams; with this system, the trader would have to fill his/her entire information to be able to receive payments.

This way, it becomes difficult for a seller to scam a buyer because if a dispute is filed, the seller would be unable to access funds.

CoinCola

Coincola Has An Excellent Customer Support System

CoinCola has a responsive customer support system which provides quick solutions in the cases of disputes. Some randy sellers have also been removed from the platform due to the proactive intervention from customer support.

CoinCola Escrow Prevents Chargeback Scams

Also, CoinCola escrow system is designed in a way that buyers are unable to use chargeback scams on sellers. This is because the funds deposited via escrow cannot be returned to the buyer unless there is a case of a dispute.

Conclusion

CoinCola a perfect alternative to Paxful for Nigerians. With this platform, you can buy bitcoin safely in Nigeria without worrying about scams. 

BONUS: Buy Bitcoin in Nigeria and Get 0.0001 Bitcoin Bonus Instantly!

CoinCola Bonus

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post.

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Digital Asset Evolution – the Long Hard Road to Stablecoins

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Digital Asset Evolution

You may often hear about cryptocurrency rates rise and fall, changing rates sharply within a single day. Lack of reliability and trust are the main reasons why digital assets have not yet come to worldwide adoption. Stablecoins has been developed to change this situation.

Obviously, cryptocurrencies had been invented and designed to ensure fairness, transparency, and decentralisation, to protect users from unfair regulation and interference by financial institutions, which makes financial transactions costly and burdensome.

That’s why the idea and forthcoming decision of creating special digital assets, that would be free of the burden of price fluctuations, being tied to more reliable assets have long been in the air.

The Key to Stability?

Stablecoin volatility is much lower than other cryptocurrencies since their price is directly dependent on the rate of the real asset. This creates new opportunities in the development of the cryptocurrency industry and digital assets.

Moreover, stablecoin has a real chance to be used as a global currency that can’t be influenced by the government or the banking system’ actions.

An ideal stablecoin must withstand significant market volatility, should not be extremely costly to support, have decent scalability, support privacy, and decentralisation, and be transparent for trading and arbitrage transactions. Such features can ensure maximum acceptance of stablecoin in the real world.

How Do Stablecoins Work?

1xBitThe stablecoins role in the market is just almost the same as in fiat currencies case. They can serve as a means of exchange, calculation or storage of capital. Their value is tied to traditional assets in a 1:1 ratio.

ST’s are divided into 3 main groups according to the method of rate stabilising. It can be:

  • Fiat-collateralised (pegged to fiat currency);
  • Crypto-collateralised (pegged to crypto);
  • Non-collateralised (the stablecoin rely on an algorithm generated mechanically which can change the supply volume if needs be so as to maintain the stablecoin’s price which is pegged to an asset).

However, what cons and pros define the stablecoin and it’s worldwide hot topics?

Stablecoin Benefits

  • Always stable

The main and known advantage of stablecoins is what it looks like from the asset group name – stability. The rate fluctuations of such coins are not significant.

For example, Tether or USDT rate during last years ranged only between $0.92 and $1.05. Occasional drops were associated with strong crypto market fluctuations.

  • Rate dependence

When using the stablecoins, a user can be sure that the goods purchased or sold to them for cryptocurrency will not radically change in price due to the rate volatility, which may well occur during operations with conventional cryptocurrency.

  • Low volatility

Stablecoin is several orders of magnitude lower than that of other cryptocurrencies since their price directly depends on the rate of the real asset. This turns their tokens into a means of payment that can be used to make payments in everyday life. Besides, their reliability is an additional incentive to spend them, and not keep them in the piggy bank.

Stablecoin Disadvantages

  • Dependence on digital assets

In some cases, stablecoin can be tied to other crypto assets. This may create severe issues due to the fact that all other digital assets can be volatile, thus – not reliable for different purposes.

  • Third party presence

Truth is, the very essence of stablecoin does not correspond to the philosophy of cryptocurrency, which lies in full anonymity and decentralisation since it depends on the traditional financial institutions of countries whose currencies are secured.

There are some more minor cons present, but the numerous advantages greatly outweigh it.

Stablecoin Projects Nowadays

BitcoinDuring the years passed since the first stablecoin was accepted by the cryptocurrency market, many similar assets appeared. At the moment, there had been many projects, aimed to create perfect stablecoin. The most popular nowadays are Tether (USDT), which holds 9th place in market cap with $3 billion, USD Coin (USDC), TrueUSD (TUSD), Paxos Standard Token (PAX), Gemini Dollar (GUSD), DAI MakerDao (DAI), STASIS EURS (EURS), Digix Gold (DGX) and others.

Stablecoin acceptance is growing steadily and in different fields – money transfers, means of payments for goods & services – that also goes for platforms, which provide sport betting services. One of such platforms, known for its reliability and convenience – is 1xBit.

The popular service provides many features: professional and quick client feedback, double checking of winnings and bets using 20 crypto assets. Now platform also supports most popular stablecoins –  Tether, USD Coin, True USD, and PAXOS Standard Token, which have been carefully chosen by 1xBit to be utilised on the gambling platform for users convenience and overall reliability.

Betting with stablecoins, one can play and be sure that his prize will not go down in rate over time.

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post.

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A Secure Cryptocurrency Wallet for Your Smartphone

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Totalcoin wallet

TotalcoinTotalcoin is a secure cryptocurrency wallet, that combines features of a Bitcoin exchange and a Bitcoin wallet, which makes it an extremely useful app for digital currency users. This app allows people from Africa to safely store and transfer their cryptocurrency, buy and sell Bitcoin for cash using multiple payment methods as well.

Key Features of the App:

  • Wallet — Deposit and withdraw various cryptocurrencies. Totalcoin charges no fees for cryptocurrency transactions. All you have to pay is a blockchain fee, that is calculated automatically and depends on the current congestion of the Bitcoin blockchain.
  • Trade — Buy BTC with cash and gift cards or sell Bitcoin. Totalcoin charges a 1% fee for any transaction.
  • Exchange — Exchange Bitcoin for various popular cryptocurrencies and vice versa. Totalcoin charges a 1% fee for any transaction.
  • Cryptocurrency charts, technical analysis tools;
  • Instant transactions between Totalcoin wallets;
  • Detailed transaction history;
  • USDC and USDT stablecoins, that can protect you from Bitcoin price drops;
  • Support for Nigerian naira and other African currencies.
  • Integrated customer support service.

Which cryptocurrencies does Totalcoin support?

As of May 2019, Totalcoin supports the following cryptocurrencies:

  • Bitcoin
  • Ethereum
  • Ripple
  • Bitcoin Cash ABC
  • Litecoin
  • Tether
  • USD Coin
  • And many other popular cryptocurrencies.

The list is regularly updated with new cryptocurrencies in line with demand from users. Developers plan to add support for ERC-20 tokens, which would make Totalcoin a way much popular and useful app.

Buy and sell Bitcoin on Totalcoin:

You can buy and sell Bitcoin using various popular partner payment methods:

  • Zenith Bank, First Bank of Nigeria, Access Bank and other popular African banks;
  • iTunes, Google, and Amazon gift cards;
  • Western Union.
  • Moneygram;
  • Other methods;

How to buy BTC on Totalcoin:

  1. Go to the «Trade» section and find available offers.
  2. Choose an ad. By tapping an ad you can find all necessary information, such as user rating and terms of the deal.
  3. Send money using payment details provided to you by the seller. If the deal is through gift cards, you must send the claim code of your card or a picture of it.
  4. Confirm your payment by tapping the button. If your payment is valid, you will receive Bitcoin to your Totalcoin wallet.

totalcoinEvery deal has a chat, where parties can discuss any problems and questions. You can open a dispute if you did not receive Bitcoin or money. Totalcoin moderators solve disputes in a fair manner.

To summarise, Totalcoin is a valuable mobile app for cryptocurrency users. This app is useful for newish digital currency users and for experienced traders. Totalcoin is a versatile app, that combines features of a cryptocurrency trading platform, Bitcoin exchange, and a multi-currency wallet.

You can download the app on Google Play and App Store or visit the official Totalcoin website.

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post.

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