2016 is turning out to be an exciting year for the cryptocurrency markets. Ethereum kicked off the year with a strong bull run, gaining 1500% over the course of a few months. This had a chain reaction as pushing altcoins into a bull market.
In our cryptocurrency mentoring program we offer private coaching, trade alerts, weekly markets reports and access to our professional trading room. For our trade alerts we walk you through our personal trade set ups, showing you when we scale in, where we take profits and how we manage risk. We generally like to aim for quality over quantity and swing hard on the biggest moves.
The market reports focus more on longer term accumulation trades that can take months. I combine fundamental and technical analysis to find potential opportunities. These reports also share trading tips and highlight important news events.
Here’s a recap of some of our trades for 2016:
Ethereum
I noticed ether during the very first signs of the trend back on 12/10/16 when the price was only 0.002 ($0.91). I made several public Tweets about it here, here and here.
Chris Dunn sent out the first ether trade alert on the breakout of 0.004. The markets were trending on high volume which was a good sign that ether was getting ready for a big move. We sold into strength just before the correction.
When trading a new market with uncharted territory nobody really knows where the top is going to be. As traders we scale in and out of the markets at key times and always make sure to lock in profits. The chart below shows another long on the breakout of a second ascending triangle.
After a price correction and some consolidation, ether had another major breakout and doubled in value again. We scaled out at different areas to lock in profits along the way.
The markets went parabolic and started showing signs of a reversal so we sent out a few alerts and shorted on a head and shoulders pattern. Our target for closing the short was 0.015.
Dogecoin
For trade alerts we like to stick with markets that have decent trading volume. That said, there’s still money to be made accumulating cheap and illiquid altcoins over a longer timeframe. When volume pours into an illiquid market it tends to spike prices high.
On 01/09/16 I sent out a market report letting everyone know that dogecoin was exiting the accumulation zone of Chinese whales. I’ve traded dogecoin during every major rally since it was first released in 2013 so recognize its habits.
The markets were showing the first signs of a big move and 17 days later the price increased 350%! Altcoin rallies generally don’t last very long, which means you can also make money shorting them once the price crashes.
Bitshares
On 01/23/16, I sent out a report with this Bitshares chart showing a double bottom reversal pattern. The markets spiraled on a long downtrend and this appeared to be the perfect entry point to buy some cheap coins.
We were early to the game because price action made three progressive waves, each one larger than the others. The markets were getting primed and the last wave happened to coincide with news of Bitshares getting listed on Microsoft’s Azure platform. The price had a 290% increase since releasing that report.
Counterparty XCP
On 02/06/16, I sent out a market report mentioning that XCP had the potential to pop on the next major news even. A month and a half later a rumor leaks out that Counterparty was integrating ethereum smart contracts and over $1M in volume spiked the price up 500%.
Anyone with patience and foresight had the potential to make a lot of money by acquiring cheap coins in my target accumulation zone.
Factom
Sometimes I’ll post my thoughts on the markets using Twitter. On 02/10/16, I sent out this Tweet about Factom. Both Chris and I acquired FCT at these levels anticipating the potential for a really big move in this new market.
Chris even educated his followers by interviewing Paul Snow, the founder of Factom. About a month later FCT tripled in price!
Conclusion
Although we’ve had some fairly accurate and profitable trades, by no means are we claiming to be right 100% of the time. Trading still comes with a degree of risk and nobody can ever predict with absolute certainty where the markets will go. Sometimes we’ll even take a bad trade but the key is to manage risk by having a solid exit strategy.
The crypto world has many pump and dump groups that manipulate the markets but we do not condone this as we feel it to be unethical. Our goal is to educate people on how to trade, making informed decisions based on technical and fundamental analysis.
We never tell our students how to trade, instead we walk them through our thought process and trade setups to teach them how to make independent trade decisions.
Cryptocurrencies may be one of the biggest financial paradigms of the century and our mission is to increase user adoption by showing people how to make money. We have a mixed community of professional stock, futures and crypto traders.
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