How to Trade Crypto’s, Indices and the Commodity Markets

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#516: How to Trade Crypto’s, Indices and the Commodity Markets

In this video:

00:28 – We don’t only trade the Forex market 

00:50 – Bitcoin’s massive crash in price

02:03 – We trade Crypto’s in the same way as we trade the Forex market

03:07 – Trading the Patterns that work  

03:27 – Indices taken just this week

03:58 – Book a call with me and my team

04:31 – Blueberry Markets

So you want to know a safe way in which you can trade cryptos, but also indices, commodities as well as the forex market. Let me explain how we do that. Right now.

Hey, the Forex Traders! This is Andrew Mitchem at the Forex Trading Coach with video and podcast number 516.

We don’t only trade the Forex market 

So obviously at the Forex Trading Coach we trade the forex market, but there's so many of you out there that want to look at other markets as well, and metals, indices, other commodities and of course cryptos.

Now crypto has been still the buzz word, although things have just quietened it off a little bit. But you know, the issue that I see with a lot of those markets.

Bitcoin’s massive crash in price

Especially if you look at Bitcoin, for example, you know, the most well known crypto is that if you go back, let's say to the end of 2021, Bitcoin was up around $69,000 and everybody was predicting it was going to get to 100,000 and then just keep going.

And of course, what happened? Well, it did the complete opposite. It absolutely crashed and it fell away. And by the way, back then, I predicted that would happen. And I was looking at the charts and looking at the monthly or the weekly charts back then. And on one of my live webinars clients, I said, it's going to really drop. And we have a price prediction level. And guess what? It did that and ended up going even further.

But here we are right now, August 2023, and right now the price of Bitcoin is around $26,000. And imagine being back then sort of 65, 68, 69, just about reached $69,000, but somewhere around about then and, you know, buying a whole lot of Bitcoin. First of all, you need a huge amount of money upfront and to invest. But also if you've bought a $65,000 and it sort of dropped to today, $26,000, that's a massive loss. You've taken that huge hit.

We trade Crypto’s in the same way as we trade the Forex market

And so the way that we trade cryptos, just this week I've taken trades on Bitcoin itself and the Etherium and also Chainlink is exactly the same as looking at the forex market.

So we can buy, we can sell, you know, go long and short week and look at the same charts on our Metatrader 4, Metatrader 5 and we have the same patterns, the same candle patterns. We're looking for continuations, we're looking for reversals. We can use different time frame charts. We have the same risk of our trade goes against us.

We have the same reward to risk. We're looking at the same time of day. So there's nothing different to what we're doing trading, say, like cryptos than if we were trading the EUR/USD for example. And that's the beauty of it. It's just opened up a massive bigger amount of markets. And therefore when we come to look at chart patterns, which is what we do, we're looking for patterns and we know the patterns that we look at have high probability of a successful outcome based off history in all the years of doing what we're doing.

Trading the Patterns that work  

So when it comes to the pattern, I'm not really bothered if I'm taking a trade on Bitcoin or Chainlink or the EUR/USD. It does not matter to me. And so we're taking the patterns based on what we know works for us. So that's for me is the way that I can trade these other markets.

Indices taken just this week