Prepare for success this new year

Good afternoon everyone. Thanks for tuning in to our first podcast of 2023. I'm joined with Lou as Craig is still on holidays. So we'll be filling in until he gets back in early Fed. So hey, how you doing Lou? Yeah, good. Just a quick happy new year to everyone. Merry Christmas for the one in Spain. And yeah, I'm really keen to chat about the markets. I'm

coming to you because it's a fresh year. Fresh year new growth, all that stuff. So really keen to dive into it. I'm like another trader. You're sorry what was that, mate? I said put everything behind us from last year. Yeah. And also talk about the markets with another trader. Like, yeah, you know, it's hard to talk. It's easier to talk about the market. No one else

is interested in the markets far from traders. So it's nice to talk about it from that perspective with another trader. We've got a full tutorial on how to raise orders and how to get access to your trading account. As well as a 10% trading fee discount, if you click and sign up with the link below. With great liquidity and great order systems, this is the premier

platform for us going forward. Join up with the link in the description to get 10% off your trading fees. Did you get up too much over there? Christmas break? Mate, I just only took one full week, week and a half. I took a full week and a half where I didn't look at a computer at all. Like I didn't look at the markets at all for

that whole week and a half. So that was very refreshing, good little reset button. And I've certainly come back like really refreshed, looking at the markets more with more creativity, I guess, if that's the right word. And just with the dress of fresh set of eyes. Clarity, yes. Clarity is the right word there for sure. What about you, mate? Did you get up too much? Yeah,

I went down and visited the parents when our camping and yeah, similar to you, just spent some time away from the charts. And it's amazing what they can do when you come back with a fresh set of eyes and the bit of clarity in the market hasn't moved too much. Do your first scan and you just notice things that you probably wouldn't normally notice, which is

it's really good. And I'll encourage everyone to do that if you didn't do that over the Christmas break. But I'm sure most of you did. Or just take whatever break you can, even if it's two or three days, like turn it all off. Yeah. I realize. Always another trade. You won't miss out. No. But you had a bit of a fight with the surfboard, or something

didn't you? I did yet. That's why I've got two black eyes to show for it. The surf's been pumping up here in the North Coast. That's been another bonus being able to step away from the charts, been like being able to really get back to the North Coast. Back into the ocean, which we really love. We love surfing. So yeah, when I go on holidays, I

don't kind of I still like I still enjoy working out and surfing and doing active things. And I still get up early and stuff like that. But just not looking at the markets is a good break for me. That's so good. Just getting outside and camping was so good. You know, like a nice break from Sydney. Sydney, you just get caught up. You know, I'm just

trying to miss track of working all the time. And in your free time, you're too tired to do anything. And it's a, you know, an hour and an hour and a half drive to get out of do stuff. So just spending some time away from the charts and out of Sydney was just so good. So I can understand why Craig is spending so much time away

this holiday. And he'll come back fresh. But I'm. Yeah. It's like we didn't miss much. Did we have the Christmas break? Yeah. Yeah. Which in one of those like, okay. Talk about it. Yeah, I've been talking about in life training for the past couple of weeks, like coming into the back end of last year and all of last week. You know, yeah, we didn't miss much.

It's like that low volatility period. It's so typical Bitcoin isn't it typical crypto like low volatility period. And every single time. I think you can say that with 100% send it's followed by move a big move to the upside down. So yeah, you've been. I'm saying this for a while, just periods of low volatility, slow price action and then a quick pop, which I wouldn't say

this is a quick pop on Bitcoin. It's. Yeah, it's gone up. It's tested that $70,000 range. But I don't think it's anything extravagant. We did see some huge moves across the board. But that's a Bitcoin until we get above this level around the 17,200. I think, you know, we could still reject that and move low. We just don't. I know. Oh, 100%. I think like something

we're talking about in life training for as well was how I read this report ages ago, like, it's towards the beginning of last year from glass notes. I've shut up to glass. I don't really read them anymore. About how rallies and crypto bear market rallies are often sometimes more vicious than or aggressive. Intraday rallies. Then. In the bull market. So yeah, we'll see what happens, but

most likely another bear market rally. But. You know, let's see the thing is from 17,000 to 20,000. That's still like a 10 or 15% move for Bitcoin. Yeah, we still. We're still below 20,000. So, you know, it's not out of the realms of possibility for Bitcoin to jump to 20,000. And then we go, oh, for sure. It's still that still attend. I'm not sure, you know,

do before kicking off trading for this year? Like, I would suggest maybe reviewing a trade plan and, you know, coming up with a profit taking strategy because, you know, towards the end of last year and the beginning of this year, I know a lot of our community members have been sort of DCing into their favorite projects. But we've found in the past that it's hard for

people to take profits than what it is to cut losses. You know, when you're in the red, you're down a few percent. If fear gets in the way, it's pretty easy to cut your losses, but when you're in the green and things are going up and things are going well, you know, you think Bitcoin's going to 200,000, Bitcoin's going to 100,000, I'm just going to hold

it. I'm just going to hold on. That's why I'm having rules and a trade plan in place could really help to have anything to add there. Yeah. Yeah. So profit taking plans for long terms. It's really important to write them out of heated the moment, like what you were saying, man. So it's important to write them now during periods of a bear market. So out of

the heat of the moment, out of the heated battle, you know, and so when it really does start to get, when the volatility starts to pick up on like the climate, like what race was talking about does kind of group everyone. You just know what to do. You know how to execute and you don't get caught in that trap. So even so, should we pull that

string a bit more in place and even talk about something life. So what would you do if you bought Bitcoin, if you were DCA into Bitcoin and did run up to 30,000 US dollars? Like that's fair. There's a fair bit of profit on the table. What would you do in that situation? And that's why we need those profit plans. Of course. So you don't get caught

out, flat footed. Yeah. And set realistic targets, I think. We found that during the last bull run, people had unrealistic profit. So we had a lot of profit targets. And normally just one profit target, which was quite odd. Like I'm going to sell my full bag of Bitcoin when it gets to 80,000. So we didn't get there. And now you're still holding that same bag and

we're down at 17,000. So, always have a plan B, a plan C, even take profits on the way up at staggered intervals at key support resistance levels at, you know, points where historically Bitcoin has a lot of money. So we're going to be able to react it and reverse from those levels. I think that's really important. Yeah. And having that balance of, like for example, using

our portfolios as an example, having a balance between Bitcoin and US dollars. So and getting used to that as well. So let's say, for example, we did see, we see run up from 20,000 to 30,000 over the next two or three months. And you're holding this bag of Bitcoin. We're going to be able to sell it below 20. You know, why not sell half of that

and hold it in US dollars and have some type of plan or 25% or whatever your plan is like, hold it there. Get used to having a balance and not just buying and holding forever. No one ever lost money taking profits around. Well, yes and no. But mostly in crypto, definitely, definitely yes. No one takes profits in crypto. It's just crazy. That's so crazy. And we

know from experience, we both did the same thing in 2017, 2018. Yeah. And we could have taken more profits. The year before last as well in 2021 as well. So, you know, like, it's a thing in crypto. People just don't take enough money off the table. And it's important to get used to taking money off the table as well. Just for example, we're going to be

able to sell it. So, one other quick thing on that, if you have and think about the situation you've been if you're accumulating Bitcoin, say this year, the better part of last year and next year even. And then a bull run does occur. What makes you think you'll have the discipline to take profits at all if you've just been buying and accumulating. You're just going to

buy and hold back everyone else. You know, you might maybe you'll take 15% profits, 20% profits or something. But, but chance is, you know, you're going to be able to get the answers out. You will make the same mistake again because you don't have, you're not used to taking profits. You're not used to holding US dollars. You're not used to. You're not in practice. Let's say,

you know, discipline. I know that I find it hard to take profits at times, especially on some long term holds when you're in the midst of a bull market. It is hard. It is hard to take profits. You know, the shiny things do come into your eyes and you think, you know, just squeeze out a little bit more profits. You know, that's a life-changing amount of

money. And you wake up the next day and it's down 5% and then just that vicious circle going through your mind of, you know, what, this is just a pool back. It's fine. We'll just keep going up and it doesn't. It just goes back down and. Yeah, it's just a vicious circle. You don't want to enter. You want to have very strict rules on your profit

taking. Yeah. And one of the, and one of the best ways is to have one of the streets. The so called street rules, it's actually what Craigs talked about is having separate accounts. So you have your int day trading account, for example, and you have your long term account. And then when you take profits out of, if one of those accounts that money can go into

a third account, but then that third account. That money never goes back into the market. There are very strict rules around that. So if you're a person that likes things segmented. I know I'm like that. You know, one very small technique to help you. Collapses and you lose everything anyway. I guess I'll leave this into an x point about FTX and SPF. Do you have any

updates on SPF? I believe he's pleaded guilty. I pleaded innocent. Not guilty. Not guilty. I'll look at SPF. I've actually been staying up to it. I've been staying updated with it all. So a few things that happened. So number one, he was extradited by the Justice Department of the US into America for charges of fraud. Wire fraud, money laundering, everything. Every charge, every criminal charge that

you can think of. He's being charged with by the Department of Justice by the DOJ and US. In fact, he's facing up to 110 years in prison. Over a century in prison. If he gets done on all the charges, I'm guessing that's what that number is. So that's interesting. I listen to a person that's investigated this whole thing and it is a fraud on a massive,

on a huge, huge, huge level. And he will most likely get done. Like he, this guy's going to prison. If he doesn't go to prison, it's going to be. It's going to be a first. The only thing, and also the currency of FTX, this guy called John Ray, I believe his name is, don't quite me on. He's testified in front of Congress in America saying this

is one, the biggest frauds, one, the biggest old school frauds he's ever seen. He was literally taking money from users deposits. $1,100% were Sean Johnson. Not just our money, but money of huge players in the United States. Like, there are people out that need that have been really, really effed over. And this guy's going away. 100% he is. And whether he pleads not guilty, whether he

pleads innocent, whether he becomes an informant, he's going away. Like this is a huge deal. This is bigger than Bernie Mattoff in many regards. And he's been granted bail. He's had to post a through I think it was like a two, it's like the biggest bail ever posted or something in US history. $200 million or something. Yeah, I think it was just over $200 million. $200

million. Yeah, where did he get that money from? Well, they've asked to redact the names of the people that have posted that bail up for him. But he's told all his parents assets are being posted to bail up because he's, you know, he's got two parents. He's an only child. And they're they're giving up all their assets, the post bail for him, the house and everything.

And I mean, imagine this guy's parents like all the son and their son who's like a prodigy like his parents, a economics professors at Ivy League colleges in America. The sounds like a prodigy. And now he's. Like the biggest fraud of the century. I'm going down as one of the biggest frauds of yeah. Yeah, yeah. And they're going to lose everything as well. So that's what's

happening with SVF Merry Christmas. Imagine how he felt after a few days behind bars in a. But Harming Jail. Oh, go ahead. Imagine. Yeah. He definitely has a big target on his head now. Yeah, he definitely does. And as you should, it's. Yeah, what he's done. And. And this and this personality. Trady has very like, oh, guys, I'm sorry. Like I don't have access to this.

So like it's it's BS. Like you're a criminal and you'll get and you get treated like one. So that's what I think is going to happen. And it appears that's what's happening. Well, I, what are your thoughts on, I guess, another nice rally in the market to the upside. With all of this lingering over our heads with FTX, gray scale, DCG, like all of these, I

guess, problems within the crypto space that emerged late last year. These are going to play out FTX will play out for months, if not years. Same as DCG. Same as great scale, same as Genesis, even Celsius, I think, is still going. I think they really. The director, the CEO of Celsius, I posted a news article in our discord group. He's being sued by the Department of

Justice of New York now. Oh, is he. There you go. Well, I think they had in some fine print when a user like yourself or me, deposited funds onto Celsius, then it was essentially their money. And they could do what they wanted with it. It was in some fine print. So I found that very interesting. It's yeah, we were reading that fine print, but you wouldn't

deposit funds. I guess this has never really happened before. So no one really needed to read the fine print. But now, I guess, everyone's being super vigilant about things like that. Yeah, for sure. What do you reckon the market will do stuff over? Look, it's a huge event. Like FTX, like, did black hole that's like that that that has left in the market. And like, the

effects of that would be felt for a very different. It's just ridiculous. Isn't it? Well, yeah, I'm not sure. I would like to think that crypto will push on. But all time highs. No, I don't think so. I think all stars need to be aligned before we start leaving all time highs. And, you know, we've still got the Fed releasing CPI data and interest rates as

well. That are potentially. So we're going to increase. We don't know. But again, that's just another hindrance. Yeah. And I think, uh, in terms of trading. So all news aside, all events aside, it's important to only read the chart. That's right. Because in the same respect, how many people have we talked to, like, pretty major traders, like, we're talking about full time traders. And that's just,

who are now completely out of the crypto market. Like, they don't have funds on exchanges anymore because the risk is being too high, particularly after it with, particularly with all the fear uncertainty and doubt that was surrounding finance towards the end of last year. So it's almost like there's no trade is left. Like a lot of people are out. And to see some type of a

rally. Not I'm not talking about all time highs, but some type of ball market rally on an entry. So an entry day basis from where we are. In the same respect, wouldn't really surprise me that much. Just because there's no one left. Yeah. Like, like, there's no one left. The snow is exhausted. The sellers are exhausted. And maybe we'll see pop to the upside on the.

Yeah. That's a good point. The only people left are, you know, the buyers and the people that believe in the space and believe in the projects. And right now, after I've just gone through and the prices, maybe, you know, people think these are. Bargain prices, you know, yeah, yeah, that's right. Yeah. And we know that we know that when it's a new year, people tend to.

What happened last year just push that aside. Sorry, forget about that and just continue on. Yeah, for sure. You know, anything could happen, but some key levels that we're watching on Bitcoin. I'll just switch to the four out on frame makes it a little bit easier to read. Look at that four hour chart. The four hour chart is looking good. Just a lot of a nice

level through here or if tested a few times. Around the 70,200 to 50. Bitcoin did reject that yesterday and as drop below that. So, yeah, I'm not really looking to take any long trades on Bitcoin just yet. It needs to pop up and stay above that level. I'm not the four hour. So we've pointed the four hour out today in the community. There's a lot of

four hour credits going on. And something that I'm really, something that I've. Observed over the last couple of days is that a lot of key levels on many contracts have been broken. Like a lot of key levels to the upside prices broken through. And it's now currently pulling back now. Now price bounces off those levels. I mean, that obviously will. Signal this move to continue. But

look, I'm I'm pretty to be honest, what the charts telling me all this. New side like we've talked about like key levels have been broken to the upside and we're going to find out very soon if those key levels holds that have been broken. And for right now while we're looking at charts right now is Louis and race. It looks pretty. It looks pretty promising to

the up to the upside. Yeah, like right now all news aside, the market looks rather strong. Strong compared to what we've been through. Yeah, for what we've experienced lately. Ethereum. It's over in the daily. It's nice. That's almost a round number two of 13,000 or 1,300. Sorry. Round number there. Tested a few times. It's now breaking out. So a nice pullback off that level for a

cradle would be amazing. Be prime. Bnb. So we'll look at this. So four hour chart. Most of you are probably listening to this on the podcast, but it's definitely worth jumping on looking at the charts and going through and plotting levels. Plot your levels on the daily and before our time frames and just get back and watch our price interacts with those levels. It's crazy. Like

these. Such an easy. It's such a it's a really good way. You know, to find consistency and profitability in your trading. You have to be. Repeditive. And just trading off key levels is such a good way to start. And today's a perfect example of how price respects those levels and how you can trade off. Well, yesterday, you know, we're watching breakouts. We'll have our key levels

plotted. We're watching for breakouts and watching how price interacted around those those levels. We saw a few breakouts set up. They popped the upside and now we're just watching to see how price reacts to the next levels or whether they've pulled back and retest those same levels. XRP is not much to talk about here. It's just crab walking sideways, but in a nice downtrend. It'll level

through him. Doge. Not one. Not much to talk about here on Doge. There's not really any key levels. Maybe a level through here at 0.078, but there's definitely some better charts out there. Yeah. And it's out of. It's out of. If you go to the two on the two hour timeframe on ADA. There was a bit of. Yeah. There's a bit of a pullback there. It

was kind of hoping for the four to pull in a bit. Yeah. It didn't quite give us that pullback. But we want to. Manic is one that I really want to keep an eye on. There's it's a good project. And they're doing a lot in the group. Play space. Not that I let that affect my trading and just trade the charts, but on an investment. It's

all right. Mindset. I'm definitely keeping you close on. Maddock. Doesn't look like it needs a little bit more to do before breaking through that level at sort of the 87 cents. What are your thoughts? Look, I wouldn't. I probably I be the only way I'd raise the intraday trade off Maddock in this case would be. Either number one, getting a breakout off that upper level. That

you have drawn in there. I can't see the numbers clearly enough, but yeah, what a yeah, that level there. That you point out. 87 cents. I get any. Getting a breakout off that on the 15 or 30. I probably wouldn't take it as a cradle before. Definitely not. Just because that resistance. Yeah. And you probably wouldn't have room to hit one to one. But yeah, looks

good. Looks strong. There's a number of tokens out there that are looking the same. Dot is looking really good, but another one with some overhead resistance. And around number of $5. So it's one thing to keep an eye on. I would say like when. Like I was quiet for a long time. It's sort of the historically, you know, it was always a top performer. There was

Bitcoin, Ethereum and like coin and like coins just done nothing. It's just so quiet, but who knows it could be a. Could just pop and outperform everything. It's broken that nice level on my coin. Like like coins clearly breaking out now, which is around that. She's obvious around that $80 mark that $80 around number where it's obviously tested a number of times and tried to hold

above that just couldn't. So we're in that key sort of range just above $80 at the moment. So a pop above or a strong candle off that level, you know, like bullish hammer or something off that level is what I'd be watching and she about to finish the top 10. Very erratic price action here on the four hour. Yeah. What is the daddy look like there

is. Let's have a look. Not too flashy. Not too flashy. So we can leave that. So I guess what's your plan? I'm just happy moving forward for today and probably tomorrow. My plan overtap today is getting the 2 p.m. close getting the 6 p.m. close as well. So, yes, today. So we. So in the community, we talk about like what strategy you have to match a

strategy to the market environment. So for example, last week we were hunting breakouts, which worked quite well. This week times come to hunt cradles and that's what we're going to do. So today, hunt cradles and the four. And I want to say we know what that means, but we've got a lot of times to go forward. So that's what we're going to do. So today, we're

going to do, we're going to do a hunt cradle, and so we'll do the same thing here. So we're going to do a great deal. So we're going to do a lot of things on the four hour and it's going to be a great deal. So we're going to do a lot of things on the four hour and you can do that and we're going to

do a lot of things on the four hour mostly. If we were to see this move not work out during our session, I'd be hunting shorts off those key levels. So seeing rejections of those levels to the short side on the 15 or 30. And then tomorrow just don't really have a plan for tomorrow yet until wake up and kind of see if the markets flow

through. I'll be positioned to profit off that already. But if the market hasn't flowed through then be looking to see what it's done. I think that's what I'm going to do. I think one thing to note as well is like these moves. Like let's say we were to see Bitcoin just go to 20,000 dollars, which is not really in the grand scheme of things that's nothing.

You know, that still could take three or four days, five days, six days. So these moves are protected. I work like if we were to see this upside move last a little bit longer. Just remember it takes time. That's what I'm saying. Don't expect it to happen straight away. Sometimes it does. It does take time. Yeah, for sure. I think keeping a keen eye on those

levels to see how price interacts. Well, we'll know if breakouts are sitting up if there's built up buying pressure up into those levels, those overhead levels, creating a series of high lows up into those levels for a breakout trade or potentially a reversal. We're looking for type reversal type chart price action. So that's, I guess that's our tip moving forward for today. And tomorrow, who knows

that'll be a new day. And this is crypto. So we don't know what the price will be doing tomorrow. But I think that just about sums up everything will keep this one short. First one for the year. And yeah, thanks for listening. Yeah. Thanks. Good morning. Yeah. Thanks. Thanks for hosting and thanks everyone for listening. And yeah, just this new year, new growth. Just keep on

stacking those sets and harvesting PNL. You know, and there is a link in the description below to create your big get accounts. If you don't have one, I do suggest hitting over and creating an account with big get they are the platform that we'll be using moving forward. And you receive 10% off your trading fees. If you do get in quick enough, you'll receive some other

little bonuses as well. But yeah, thanks, Trinion. And I'll see you guys next week.