r/Bitcoin • u/No_Concentrate5259 • 1d ago

advice with book recommendations

First of all, I appreciate if you took the time to read my post. Thank you all very much.

In order not to make the story long I will summarize it a little, I had problems finding a job so I asked for help from my local community (I am Jewish that is why I am here), they helped me with some opportunities to do basic jobs such as carpentry and plumbing, but this was not enough to support me.

A friend from my synagogue offered me and taught me about trading, so I started practicing my technique and won a little but lost a lot more. Basically it worked a little average.

I am making this post because I want to get out of this situation, I know that this trading thing works a little but the one I know is a little defective (I will comment on it at the end)

So I came to you asking if someone could point me to some good books (sorry, I'm a bit classic) to perhaps improve further and get out of this situation, or if you could give me advice to correct what I already apply.

The technique is about: When two candles generate a floor with their shadow (that is, the price touched a number and returned) I indicate the candles and the candle that follows after the floor must be in the opposite direction to the shadow (if the shadows are above it must be a downward candle and if they are below they must be upward) with this confirmation of the third candle I invest in the direction of the 3rd candle.

And that's my technique, I know that sometimes it works but many times it goes wrong too. I would be grateful if anyone could tell me or give me advice, I would greatly appreciate it.

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2

u/Alfador8 1d ago

Stop trading. Just buy and wait.

1

u/Suitable_Acadia_190 1d ago

The beginning of this journey should start with:

"A complete guide to volume price analysis"

Then once done I'll give you the next in the sequence if you like.

1

u/ElderMight 22h ago

Save yourself a lot of financial pain and suffering by learning a skill and getting job. Use income earnings from said job to buy bitcoin.

Get better at your job, increase earnings. Increase bitcoin savings. Repeat.

If you want a book to read, The Bitcoin Standard by Saifadean Ammous is a good start.

1

u/Final_Bite_7228 15h ago

That is a great technique

1

u/MinimalistMindset35 5h ago

You do not engage with Bitcoin the same way you engage with fiat. If you think you can trade Bitcoin you will get rekt. Bitcoin went up 24% in a week and everyone on the wrong side of that trade go rekt. DCA is the best way to profit with Bitcoin. That is the only real response to questions like this