Gate.io AMA - Livestream, Review Basic Operation and Fibonacci Retracement and Extension | Oct.18th

Let's review last week's basic operation:

How to place an order

1.There are kinds of different ways to play trade:

Limit order

Stop Order : Set up a assumed price, set up TP and SL. Once the price be triggered, the order will start to run.

Ice berg and Reduce-Only, for big size position order. Suggest that beginners don't use it.

Remarks:

Limit Order and Stop Order are popular methods

Ice berg and Recude-only, are for bigger size positions. Being a beginner, please ignore it.

Trigger order

1.Set up a Trgger price and Buy/Sell price, once it's triggered, the order will start to run.

2.There are two kinds of orders, Limit and Market.

3.Above two may not be suitable for fast increase and decrease.

Market order

Entry by current market order, after the order start to run, then set up TP and SL. When you see the fast increase or decrease, use Market order will be more effective.

Let's see how to set the above orders.

1.The leverage, for new beginners, you can use 5U plus 10-20X leverage to test.

2.Where to click leverage.

Points to be noted

1.Always check long term patterns, to recognize the major trends.

2.Long term and short term has conflict, set up short term.

Conclusion:

1.Reviewing longer-term charts can help traders to confirm their hypotheses but, more importantly, it can also warn traders of when the separate time frames are in disaccord.

2.By using narrower time frames, traders can also greatly improve on their entries and exits.

Indicators tool bar

1.Long term trade indicators: BOLL, MA, MACD

2.Short term trade indicators: KDJ, RSI

3.Indicator suitable for all the time frames: Volume, Long/Short ba

Basic Knowledge of Fibonacci

Q: What is Fibonacci?

A:

We usually use two major tools:

1.Fibonacci Retracements. These are horizontal lines on a chart that indicate areas of support and resistance.

2.Fibonacci Extensions. These are horizontal lines on a chart that indicate where a strong price wave may reach.

Let's do real time analysis with the above two tools.