Exercises

1. After taking the risk assessment questionnaire, ask yourself (and write down) three things you’re doing to keep your emotions in check in real life. I know a couple that say that when they want to fight, they speak in pirate English. Think: “Ye be mighty pushy! Belay that!” ... or just use The Pirate Translator here: https://pirate.monkeyness.com/translate.
2. Identify 3 daily candles in TradingView, then go to the 4-hour and 1-hour timeframe and look at the candles that formed them. See how the low of the bigger candle was formed using the low of the lowest candle in the group, how the high was formed, and so on. How does the price move inside that big candle? Is it going directly to the close? Is it pushing toward the high, then dropping to the low, then jumping to the close?
3. Identify a big news event in crypto (which happened at a specific hour, on a specific day). Tip: You can look for big Fed announcements or a black swan event (such as the crash of FTX). Check on the chart how the price reacted to the news and for how long. Imagine the market participants getting fueled by the news and trading during those times. Which market participants were involved? What was their thought process?
4. Go to TradingView and open the daily chart for BTCUSD. First, try to identify the periods I’ve shown you in the screenshots about the bear market and the bull market, and then, go to a lower timeframe (4 hours or 1 hour) and identify 2 bullish trends, 2 bearish trends, and 2 sideways trends.