Diary of a new Crypto Trader

[timsk]

Hi Charty,

I'm guessing that Renko is more suited to Swing Traders than intraday, as you are not too worried about small changes in price - as long as the general trend is up or down?
I think that's right?

Renko is just another way of presenting price in a visual format and has a lot in common with other graphic representations that don't use time, e.g. Kagi, 3 Line Break and, most notably, Point & Figure. (If you want to explore PnF - dentist007 is the forum expert, check out his thread: Trading with p/f) All of them can be used to day trade, swing trade or position trade. Theoretically, they could even be used by scalpers who are in and out of the market in a matter of minutes. How each trader utilizes their preferred chart type is entirely down to them - there is no right or wrong way - just what works for them.

If i was to switch over to stocks from Crypto where would you recommend a good start? I've opened an account on AJ Bell, but find the interface much harder than Binance which i use for Crypto. Any help would be appreciated.

I'm not 100% sure what you're asking here - is it what broker to use to trade stocks? If so, this will - to a greater or lesser extent - be determined by your chosen vehicle to trade them, i.e. direct market access (buying and selling actual shares) or a derivative product of some kind such as CFD's or spread betting. Thereafter, this FAQ will help you sort the wheat from the chaff: Can You Recommend a Data Feed, Charting Software & Broker?

Lastly, in response to your post replying to Quantt in which you ask for resources for trading by price, the go to member on this topic is dbphoenix - it's well worth looking at his threads. He's provided a lot of content, so I suggest you start with these two:
Straight Line Approach, The (the SLA)
Trading Price
Tim.

 

[Quantt]

Well thanks Quantt.

My purpose for posting this thread was to enable me to learn from other more experienced traders, which i am doing, but i would love some pointers as to what i should be studying - if my way is not the most profitable.

You and others have mentioned trading via price, with no indicators or candlesticks, how do you learn to do that? What resources are good to learn this?

I'm not here to argue the pro's and con's of what i trade, if i papertrade or not, and if i follow people on Twitter. I take those points on board, but i think that what i am doing is right for me.

Anyway, thanks for getting in touch and i look forward to your response.

Charty
x

Best is to get data and start experimenting... Tim also gave very good pointers above...