My Career and Success in Cryptocurrency – Miscellaneous – December 29, 2023
I started trading 7 years ago. Initially, I started out as an investor and bought some shares in the stock market and was very happy as I was able to make some profits within a few weeks. Then I was introduced to Intraday, which temporarily ruined my life. At first I started trading with a gambling mindset and slowly I started trading with indicators such as buy when price is above 50EMA and RSI is 40 and sell when price is below 50EMA and RSI is 60. It was profitable, but not in the right way. For long-term sustainability. Then my friend introduced me to Crypto. I liked this market because I was a full margin trader. I learned how to trade on full margin in Malaysia.
While learning MT5, I had a dream of using EA to automate, but that plan didn’t work out due to lack of funds and knowledge, so I started learning MQL5 and my coding became so perfect that I finished all the trading methods. It seems impossible to me all at once. My experience at MQL5 is very good today and I am very proud of it. The main purpose of learning MQL5 was not to sell EA or indicators to the market, but to solve trading puzzles, coding indicators was like a dream come true. My trading decisions are 95% automated.
Just move the lines and the indicator will be ready for any analysis. Before you think about the indicator, please note that this is not an indicator based on built-in indicators such as RSI MACD.
This is based on price action. I can do whatever I want, find and research operational algorithms that many retailers may lack.
I trade $SOL full time. I moved to Dubai from India, a cryptocurrency-friendly country, and I’m really enjoying it. Soon I will also call my parents to come live with me in India.
I want to share information about trading and MQL5 in this blog.
Cryptocurrency, Forex and Commodities are the world’s best markets for day trading. I only have vast knowledge about cryptocurrencies and I don’t know much about Forex as I don’t like spreads and market closings. 24×7 cryptocurrency operation is great for me.
I started trading cryptocurrencies using basic price action methods and Fibonacci. Later I found that I had to code market dynamics that I couldn’t keep in mind every time I placed a trade, where one mistake meant big financial losses because I was trading with leverage on 1-minute charts. So we keep coding the indicators for several weeks until they are perfect and transparent so you don’t have to have any doubts before making a trade. Having confidence is 100% essential and 0% is necessary if you have lost money and have not backtested the history of your strategy’s win rate.
I was very careless at first making thousands of dollars worth of trades, but after losing or not winning and making every trade a zero-sum game, I decided to correct my mistake by programming the indicator. Let’s say you have a strategy of buying above EMA 50. You need to know that this strategy can either succeed or fail. But if you keep looking for the reasons for the failure, which factor is to blame, everything is related only to technology and nothing to do with fundamentals or news. Because I’m talking about day trading.
If you start looking for factors that cause your trades to fail, you can write them down, but it won’t be effective. This needs to be recorded and made to work as a program to avoid errors.
Examples of factors:
It is the highest price factor with 3 lower lows. really? huh. That’s a factor. This is a simple example of a factor. In this case, the strategy may perform differently if there are three lower lows, and the strategy may perform differently if there are three lower lows.
There can be a variety of factors that traders can look into.
MQL5 is the best companion responsible for my cryptocurrency trading success.
Learning MQL5 may not be easy, but you can do it if you are determined to learn and are dedicated to it.
Those learning MQL5 are encouraged to visit the MQL5 Russian website, which is more active than the English version, and engage using Google Translate.
Learn the code and read the articles in our codebase. You don’t need to learn everything, but there are few topics that will help you code all the price action logic.
1. Loops: While, for, etc.
2. if else switch statement
3. Basic MQL5 like GlobalVariables, features like Alert
4. Classes and Structure
I hope you enjoyed the article. See you soon.
