Crypto Trading Basics Ep. 1

All right, welcome back to the Crypto Mason YouTube channel. Today we've got a dedicated trading education video. Drop a like if you want to get into crypto trading or have been trying, or you're an advanced trader. Um, if you know, depending on what skill level you are at, you're going to find something useful or valuable in today's video regarding trading. Basically what we're going to do is show my current setup, like how I trade. I don't trade on a daily basis, but I trade when the opportunities show themselves. Because one of the keys— we're already starting with a gem right here. This is a gem. One of the major keys on why other people are rich off crypto and you're not is because they are equipped and ready. Are you equipped and ready? What if I told you right now that I know or I have a strong chart set up for, you know, SWEET, right? What if I told you that and, you know, I'm longing it, I'm putting in a long trade with $10,000? What if I told you that you'd want to maybe go and look at that chart and put your money into, right, and try to make a trade on your own? But are you ready for that? Do you have funds in an account ready? Do you know how to place a trade? Do you know how to add some leverage and turn up the volume on that trade to make even more? That's what we're talking about, is equipping yourself with the best tools available. So drop a like, let's get straight into it right now. All right, so the first thing is, why would you even listen to me about trading, right? Number one, I've been in crypto for 7 years, right? I've placed a lot of trades over that time. Hundreds, thousands of trades over that time. Uh, number 2, we really do this. Take a look at your screen right now. We really do this. We really help people learn trading and make profits. I can scroll. I'm actually working on this right now, building a vault of every profit that you guys have made in our community and putting it in one folder, right? I mean, we're hitting crazy stuff. Look at these, $124, right? So real people, real profits. I could, you know, we could seriously put 1,000 more profit screenshots. We really do this and you're really missing out if you're not in. So link in the description if you want to join the free trading group. This is completely free. There's trading signals, there's market insights, there's live trading, there's a chat. It's strictly futures trading, leverage trading, spot trading, um, charting, etc., right? Uh, link in the description, you put your email, and that email is where your invite link is going to be sent, right? So put in a good email that you check because we're also going to send you tips, trading tips, free indicators, and interesting stuff on there. So if you want to step up your trading, join that. That's the number one tool, right? That's the number one tool because you're going to get into the Owl's Nest, which is our trading group right here. You can see we have a trading chat here, um, we've got the announcements channel, we've got scalp signals that, you know, show chart setups, and you can enter these trades if you see fit or wish. Uh, we've got swing trading, market analysis, live trading sessions with some of the guys from CoinW. You can post your wins up in here. We've got educational tutorials in there, a dedicated support chat. We also have a channel for mine and Megan's trades in here. And then we've got the best exchanges. Okay, so the next thing you need is a good exchange. Now, if you're in the States or Canada or basically anywhere, I urge you to try out CoinW, see if it works for you. in your location. Link is in the description. That's going to give you up to $30,000 in deposit bonuses, um, and they have all of the features you need, right? They've got bots, they've got copy trading, uh, they've got futures trading. Now, right now I have $6,500 loaded up in my account right there in the top right, um, and so what we're gonna do is go to the futures section. I'm going to turn on dark mode right here. This is your first step, right? Sign up for CoinW, uh, with the link in the description. That is a referral link. Why do you want to use our referral link? Number 1, you're supporting the channel, right, and making it so that we can keep making these videos. Number 2, you're going to be eligible for our trading, uh, contests, giveaways, and basically just free money just for trading on CoinW. Okay, so the first thing you need to do is sign up. Deposit some USDT into your account, right? If you go to wallets right here, um, and you go to the funding account and you click deposit here, this is going to allow you to deposit directly into your account. Now we always do USDT, right? Uh, this is trading basics, so we're going to cover everything from zero to one right here. So USDT, you're going to send that in to the wallet right here and then, you know, that's going to be in there, right, for you to trade. Now, if we go to assets overview, you have all of these different accounts. When you first get your money, it's going into your funding account. That's where you fund your account. Then you have to transfer it. And all exchanges work like this, by the way. Transfer it from the funding account to the spot account. This is where you can just make trades on spot, which means no leverage, okay? And we'll talk about what leverage means in a second. Then there's the peer-to-peer account. You don't really need to use that. And then there's the futures account, right? So $6.5K I've got in my futures account, and that's to to trade on futures right here. Now with futures, uh, you want to make sure you're always on isolated, you want to make sure you're on merge, and then you want to change your leverage to something lower, right? Like 3, you know, 3 could be good. Now what we're doing here is this is obviously the chart, uh, this is the order book. Right? This is live orders. So each one of these is a trade being placed. Okay, absolutely insane. You can see the live trades, uh, that are happening. You can see recent trades as well. You can also do different layouts here if you want to see just buys, just sells. You can see that there. Now let's explain leverage for a second. So let's say over here is your little window. This is how you, uh, place a trade, right? So let's say we want to use, um, if we go here, let's say we want to use— so I just changed this to, uh, USDT value so I could see the value. Now why is this so much? Like, why, if I use 100% of my available money, why is it $19,000? Why is it $19,000? Why, why am I now using $19,000? That's because I have leverage on. So what leverage does is it multiplies your starting amount, right? So if I do 50% of my money, we're actually going to be trading with $9,800. So the exchange is giving you that extra money so that you can make bigger profits, right? Because if you make 5% on $10,000 versus 5% on $100, that's a big difference, right? But there is risk involved with leverage, okay? So we'll explain the, explain the risk right here, um, for you. So let's say let's say we do— hold on, let's change to here. Let's say we do half our bag, right? If I place this as a long or short— a long means you're— you think it's going to go up, right, from here, from the current price. So if I believe that it's going to go up, I'm going to place a long. If I believe it's going to go down, I'm going to place a short. So let's actually do this. Let's place a 10%. So I'm using 10% of my available capital Make sure you're on market, uh, open, right? And we're going to short Bitcoin. So it's going to give you a confirmation window. We're going to click confirm. So boom, our order has been filled, right? So now at the bottom, this is where you monitor your position. So we can move this up a little bit to see this better. So we are in a Bitcoin short with 3x leverage. So we beefed up our bag by 3x. So if you used $1,000 on 3x, you're actually trading with $3,000, which gives you that edge, right, to make more profit. Now what's the risk with this? The risk is they will give you a liquidation price. Okay, so the liquidation price if, if the price of Bitcoin or whatever you're trading hits that liquidation price, you get liquidated, which means you lose the initial amount of money you put in. So for example, if we put in $1,000 and then we go and get liquidated, we're going to lose that $1,000 even if we were on 5x leverage, right? So you don't lose more than you ever put in, right? You don't go in debt to this, right? Like, if you're using leverage, you don't go in debt to it. However, the higher your leverage, right, the higher you move this leverage right here, uh, let's say we put 10, right? The higher you move that the closer your liquidation price is going to be, the riskier it is, right? So we've got a really good liquidation price right here on ours, $144,000. So if Bitcoin goes to $144,000, you know, that's really high, but that's because we're using only 3x leverage, right? So you can monitor— this is what you care about right here. The P&L. So we're currently up, um, 72 cents on this trade, right? Because Bitcoin is not really moving right now. Um, but by the end of the video, we'll check what this is at. There we go, we're a dollar in profit. And by the way, if you want to add a take profit level, you can add a take profit level right here. Um, if you want to sell your entire position, this is all very straightforward. Don't be scared to like whip out your ChatGPT and like take a picture of certain stuff and, and ask it to explain exactly what certain things are. Um, but I'm giving you the raw basics of like get the account, fund it, and then just study like how do I place a trade. Because in our group, right, in our trading group, we make it easier for you to find trades. Um, the other platform that is absolutely amazing, um, which everyone uses in crypto is TradingView. We're going to put the link to TradingView in the description. That's a referral link as well. However, you don't need to buy the paid version. Don't— like, unless you want to take this seriously, you don't need to really buy the paid version, right? Um, the free version works, works well. Now, your candles will be red and green, right? I've changed mine to purple and yellow to match the patient's branding colors. And also just psychologically, I don't want to be influenced by seeing a lot of green and wanting to, you know, sell or take action based on color. So I've changed it to rewire my brain to where these don't affect me because they're purple and yellow, not green and red, like stop and go, buy and sell. I wanted to get out of that, right? Right, let's check up on our trade. Okay, we're still just doing nothing really. Um, let's go and analyze this chart, right? So we up here— by the way, we do have dedicated, uh, tutorials on TradingView as well. Um, if you go to the Patience YouTube channel, which is in the description as well, there's some tutorials on how to use TradingView. Um, but I did want to suggest this as the final tool that's really, really useful um, but this is your main 3. Get in the trading group, get on CoinW, fund your account, learn how to place a trade. Uh, if you don't like the risk of leverage, then you're gonna have to go to Trade and go to Spot. Okay, Spot right here is where you can trade the same charts and everything but not have that liquidation risk. Okay, this is just basic trading. Now obviously you're gonna make less or have less potential for profits because you're probably trading with a lower capital amount 'cause you don't have that leverage beefing it up, right? So trade is doing absolutely nothing. Oh wow, did we, oh, our leverage actually changed to 10 right here apparently. So that's crazy. Um, but yeah, this is the basics of trading, right? Keep it really simple. Don't get into all the weird stuff right away. Um, and you know, the tip— best tips I can give you is start with some money that you don't care about. This is the main thing. Take $100 or whatever, $50, and just get the feeling of placing a trade and closing it and monitoring it. Spend 1 hour, right? I want you to spend 1 hour. This is your, your homework. Get on CoinW, get on a chart on futures or whatever you want, whatever's available in your location. Get on there and just place a trade. Just do it. Get that over with because I know how When I started trading, I know how long I sat there being like, oh, I don't want to mess up. Like, I don't want to, you know, I don't want to mess up. Get over that anxiety, right? Get over that anxiety. Because I mean, what if your trade starts doing well, right? Then we didn't talk about the close buttons, but take profit, right? Then you can close right here. So you can close everything. If I slide to 100%, it's going to close at the current price. Or sorry, close by market is going to close it at the market price. Here you can close it, um, you know, wherever you want at a certain price. These are the basics though, right? So just really— oh shoot, you guys didn't even see that right here. Right here is where you close by market, right? If you want to close it, it's going to close it at this current price. That's going to cost more fees. Every exchange has fees. You can't get around them. And then here you can close based on what price you think it's going to go to. So you can set like a price like 100,000, 109,000, right? If I think it's going to, it's going to go there, I can do this and confirm and then that's going to get that put through and we close at that price. But make sure you use take profit levels and not that, right? So if we think it's going to go to $109,000— or wait, $110,000, right? You can actually see your return. So we're going to make $306— whoa, wait, 3— what is this saying? The return is $17,560. $1.8. I don't know, this, this is tripping right now, um, but you're gonna see how much money you'd, you'd gain or lose right there. So that is all, uh, for today's video. Thank you for watching. Let me know if you want to see more tutorials. We can go more in-depth how to actually strategically place trades, um, let me know. Thank you for watching, appreciate all of you, love every single one of you, and goodbye.