 All righty guys, we are back with another video basically an update from the day trading challenge where I will trade $10,000 all the way up to one million dollars The last video I uploaded was kind of a negative one because I Admit it that I made a mistake and I had to hold my cryptocurrency because I didn't want to take the loss Luckily for me bounced right back up. It was kind of like a short correction. So two days later I was right back in the game. So the day trading challenge I'm not gonna have you wait to see how far I've come. I'm gonna tell you right now My current portfolio is worth $38,800 which brings my trades that I have to do to reach one million dollars brings it down to 165 trades so within the next 165 trades I will be a crypto millionaire This is insane because I still remember when I wrote down the list and I realized I need 234 2% trades to reach one million dollars all the way down from 10,000 all the way up to one million and now I've traded so much that all I have left is 165 trades for all of you guys who haven't seen the first video click here That's the initial idea how I wanted to get started since then a lot of things have changed I made a lot of mistakes and I've learned from them But like I said, I still remember the day when I started 234 days to hit one million dollars and I made so many mistakes And it was so stressful at points where I was just too greedy where I didn't want to take the 2% because I thought oh my god This is gonna go up way up really up to the moon And then it didn't well. I have learned from my mistakes and in today's video. I'm gonna show you how I Analyze or look at charts where I believe it's a good time to get it Mind you neither am I a professional trader nor am I a financial advisor? I just started trading I discovered it for myself in December And I wanted to play around with it and educate myself on the topic of trading my Technique or strategy or whatever you want to call it isn't is a combination of indicators that make sense to me right now There are so many more indicators out there, but I understand or believe to understand four of them So this is not an official trading strategy that gives you 100% success rate. This is just Me looking at charts and believing. Oh, this is good. This is bad All I can say is that I almost quadrupled my money within five to six months, which is insane and yeah Let's get started. So before we begin. I am not I financial advisor I'm a dude on YouTube that gets people in shape who also Traits cryptocurrency. This video is not financial advice. This video is for entertainment purposes only Do your own research and trust nobody. I Said nobody with your money and of course he needs to interrupt. Say hi to YouTube. Come here Hi Hey, oh crazy. The first indicator that I use is the RSI Relative strength index It is a momentum indicator that measures the magnitude of recent price changes to make things easier It basically is an indicator that tells you if a coin is overbought or oversold according to the definition of the RSI an Asset is considered overbought when the RSI is above 70% and oversold when it's below 30 I found that the RSI by itself is not a great indicator to just you know decide if you if it's oversold or Overbought, but it's in addition to other indicators. So I started with that one Realized that's not really the best thing. So I added more the next indicator that I use is just volume I mean, that's very simple to explain It just shows you exactly the volume of a traded coin within a certain time frame But let's look at an example if you see a coin on the rise within out of the norm high volume It indicates that the push is healthy and might keep going if the coin has a Decreasing volume while it's near it's all-time high you might see a reversal if a coin is losing value with an increasing volume You can expect a deeper drop and if the volume gets smaller on the downtrend you might have found another reversal Okay, so these two indicators basically right now don't really show you a lot It's still a speculation They can like flip in a second, but it kind of shows you what the market is trying to do But it will never give you a hundred percent direction to where the market is going But for my challenge where I only want to take two percent This helped me a lot because whenever I saw something that was overbought and there was a high volume I kept waiting till the volume dropped to like a very small or normal amount And then I bought in and took my two percent right there Just that little dip and I was out till I don't I would not consider myself an Expert in chart reading so I just want to be honest with myself and just take the two percent's where I know I can take him I recently started adding two more indicators due to a really interesting conversation I had with one of my community members Wati shout out to you. Thank you for the input One is the balling of bands. Guess what? It also shows you if an asset is overbought or oversold So now I have three indicators that could tell me if something is overbought or oversold If all those three indicators tell me that it's overbought for me That's a sign where I'm like, all right I'm gonna go in and then two percent and out and last but not least guess what? I have another indicator to see if it's overbought or oversold. It's the stock RSI. I don't even know it's called stoch. I would say stoch in German Stock stoch This I guess what it's another one tells you if something is overbought or oversold a reading of over 80 means that it's overbought And the reading under 20 means that it's oversold I've used the balling of bands for my past five or six trades and it helped me a lot because without the balling of bands I would have gotten in but it wouldn't have gone too well So I waited a little bit longer and it I think it dropped another three to four dollars And then when the balling of bands told me hello, it's oversold and then I got right back in got my two percent And I was out, but let me give you an example. All right, so let's look at this example right here This is light coin USD on the five-minute chart This is an actual trade that I really did So on the first one you see the actual chart of light coin going up and down and around it We see the balling of bands over here right below it. We see the volume and Then the stock RSI the RSI beneath it So this is basically how I treat it as well priority number one if I see an outbreak I'm gonna look at the volume see what's happening here And then if I see okay, we are overbought on the stock RSI as well And then the last part is I'm gonna check the RSI So let's let's take this example right here because this is an actual trade that I did when we look Right here We are on a downtrend and it started to actually hit the balling of bands twice already Which technically would be an indicator to like buy in right but then I looked at the volume and realized Oh my god, the volume is really high. So that suggests a higher or deeper drop then the next step was I looked Okay, we are overextended. So this is oversold So I was waiting waiting waiting for confirmation to get back up So now I look and I see that the volume decreased by a lot So it normalized but I wanted to wait for more confirmation and wanted to come back in this purple area Which is right between 20 and 80 So the low was 343 Which I didn't buy in because I wanted to wait for confirmation So I bought in right here at the high 346 because that was right here and I was like, okay, that's confirmation now We're gonna break out and we actually did so we came up all the way to 352 which is where I sold because that was my 2% and I was out of the trade I wasn't even touching the balling of bands on top So I was happy I got my 2% and I was done now when you look at the chart you can say you're honest you missed another Five dollars on that trade. That's absolutely correct But at the same time My strategy or my idea is just to get 2% every single time and then I'm out. Alright guys That's it for today's video. The next video. I think will be when I hit $100,000 because It's just over. No, it's the same thing over and over again I don't want to like, you know repeat myself with the same indicators and the same trades. It's 2% until I hit $1 million I have 165 days or trades left if you want to join our community just click the link in the bio Sign up become a member then join our discord and then have conversations about trading fitness motivation anything We have a bunch of crazy cool people in there Benny for example shout out to you Benny He was able to learn a handstand within two weeks. Join us. We're crazy group of people, but we love each other I see you next time