PDCA BTC Trader

Originally I'm a doctor (double specialist in internal medicine and cardiology).
I have been fascinated by forex trading for 10 years. Now that's what I do every minute of my time outside being a physician!
I have found my nemesis- BTCUSD trading- the beast!
It's training in self-management and psychology and I'm all in.

My strategy: Plan-Execute-Evaluate-Adapt (17point plan):

1. macro trend- analysis
- MA20D, 50D, 100D and MA21W
- RSI and MACD on 4h (and 1H!) (obs- divergence doesn’t work in strong trending market)
- patterns forming on daily and 4H-1H

2. VWAPw and VWAPd- extremely important pivot points!!! (Avoid trading Mondays and if so remember that Mondays almost always start in one direction and flips during the day!)
3. draw support and resistance lines on the 4H chart
4. identify entries- mainly in the trend direction, confirmation via VWAPd (but first decide if range or trend?!) (If range- trade opposite to the VWAP baseline!)
5. Be careful taking trades in counter-trend direction and if not price and VWAPs are aligned!
6. always check 4H and 1H before trade entry, always take time into consideration!
7. always check 4H and 1H before trade entry- stand aside if dangerous counter patterns!!
8. trade entry always on the 5 min chart, always in consideration to VWAPd
9. follow trade on the 1min chart, exit in a short time, minimize risk.
10. target take profit: 300-1300 pips
11. stop-loss analysis continuously, exit if 1-10 has changed the outcome probability!
12. Enter countertrade if settings have changed to the opposite!
13. If trading on weekends, remember that the market tends to go back to the CME price levels, at least in "normal market conditions".
14. Also remember in weekends- evenings usually minor movements suits perfectly for my trading as weekday evenings
15. If the market is in extremes- indicators are useless!
16. Don’t trade breakouts unless they are confirmed or extreme!
17. NEVER SECOND GUESS THE MARKET PRICE AT BREAKOUT LEVELS!!!

ALWAYS maintain self-control!

NEVER get too greedy!

WAIT for the right setup! Let the market come to you!

Target 100x within 6 months

Version 3 ongoing.
The Closed P&L does not include the transaction fee and funding rate of the crypto currency exchange. BitCopy is free to use.