I've absolutely crushed it over the last few weeks. Since January 7th, when we opened up this By bit account for trading on YouTube, we're up a total of $700K. You guys see these numbers every day if you watch us on our live streams. And I can tell you before I really learned how to use Market Cipher, I was not a great trader. In fact, I was downright bad. So many of you guys have asked about Market Cipher that we decided to do a series of tutorials on it, starting with the basics. It takes the guesswork out of the trading and it can take your portfolio to a whole 'other level. Find out how.
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If we don't start with how to use TradingView and how to set Market Cipher up, then you're not going to really be able to do much. And I know it's overwhelming if you haven't used TradingView, or you haven't ever used an indicator before. So the first thing you do is here on bitboycrypto.com/deals,you will find our By bit tutorial if you want to know how to set up By bit. Make sure to sign up for an account for By bit. That way, you can take part in our trading competitions. And, you know, we just gave away a full Bitcoin and things like that, so make sure to head on over to By bit and sign up.
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That's our No. 1 trading site. We like some other ones as well, but By bit is our No. 1. It's where I do most of my trading. If you run into a problem with a VPN, you can cover that there with UnlimitedVPN.Here is Market Cipher. Now, we got a special right where you can get 10% off if you want to use Market Cipher. And here's-- in this tutorial video, we go over some of the, you know, how I use it, but it's not really the basics. And I want to show you guys how to start off brand new. You've never used TradingView. You've never used an indicator. I'll show you that. So you can click right here, and it'll take you to the Market Cipher page. You can sign up there. Make sure to get the deal. And so, once-- once you do that, once you sign up with Market Cipher, and, of course, this is kind of what it looks like it right here.
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This is where you're going to be able to buy it, you're going to be able to learn more about tutorials, learn how to set it up, but I'm going to show you guys how to do that today. We've been using it to crush the market as you guys know. Right now, we're up, you know, about 7 ETH on this trade, I've got going on this morning. Got a nice entry price at $1709.Gonna go ahead and lock some profits in with that one so we can't lose the trade. So that's good news. Of course, if you guys want some proof of how well, Market Cipher has been working for us, just go here to our close P& L here on By bit. I mean, guys, the numbers here do not lie.
Easiest Way To Make Money Trading Crypto in 2021
They absolutely do not lie. This is--The market had a little bit of a dip since we showed those screenshots a minute ago. As you guys can see, this is dynamic based on, you know, what's happening at the moment. That's our P& L with Bitcoin. We just started doing some trading with Ethereum. You can see our P& L with Ethereum is pretty good, and then we got this outstanding trade right now. All of these, I mean, look at all these green trades. With Ethereum, we did have a few red ones, but going back to Bitcoin and you guys will look at our Bitcoin trades,, it's pretty remarkable what we've been able to do with Market Cipher. There was a 5 Bitcoin liquidation. We made that back up in four trades. But, you guys, look, you just see all the green. I mean, if you can look at the numbers and you compare those out, then you can see that we're winning obviously a whole lot more than we're losing. And we got some pages where we have pages with no reds, all greens.
Easiest Way To Make Money Trading Crypto in 2021
So, guys, here we are on TradingView.Now, you're going to need TradingView to set up Market Cipher. What's going to happen is you're going to sign up for Market Cipher, you're going to send them your TradingView username, so you're going to want to have that setup. I'm on premium. There are some different options to sign up for. I use a premium. I think it's $30 a month, something like that. You can get the plan kind of in the middle that's $7.50, or you have a free version. I would suggest if you're going to pony up the money for Market Cipher, go ahead and pony up the money for the upgraded plans. I mean, it's only, you know, a minimal amount to how much you can make with this. And, of course, guys, trading results, these trading results I've had over the last couple of weeks, they've been absolutely phenomenal.
Easiest Way To Make Money Trading Crypto in 2021
Most traders are going to get in, you're going to have some losses. You've just got to take those as some lessons sometimes. Don't get wrecked. Don't get liquidated. Make sure you got tight stop losses. And you can learn over time how to lock in profits. That's a big key to how to make money with trading. So this is TradingView right here. There's a lot of different options, but what you're going to need to know is how to search the charts that you want to use. So we're going to be using Bitcoin and USD.This will link up directly to the By-bit chart. You can also create a watchlist over here on the top right. If you see, I have a watchlist. It's the icon with the four lines there. And then I've got someones that I watch all the time.
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I watch Ethereum. I watch Bitcoin. I watch Chainlink. And I watch--This is the CME futures. But let's just say you don't have that. How would you find the chart you need? Well, first of all, you're going to come up here to the bar and you're just going to type in " BTCUSD", and that's going to take you to the Bitcoin chart. You want to find the perpetual contract chart for By bit. So we are going to click right there. So this is how you pull up charts. You can also search for other things. This is also a social media site where people can publish charts and things like that, so you can search, you know, plenty of different things here, but what we're gonna do is once you're here on the chart that you want, you guys can see it's got different charts you can, you know, quickly click. You can hit Bitstamp here.
Easiest Way To Make Money Trading Crypto in 2021
It would take you to the Bitstamp chart. You could click Coinbase. And you can see those numbers as well. But we're going to stick with By bit. There--If you want to see what some people think about-- about Bitcoin and its current, you know, state, you guys can see the post from the social media aspect of TradingView.Different charts are published. You can look at the charts. And it's a good way to get a kind of a feel about what's happening. You can also see that there are some news stories over here. You can see about Bitcoin if you want to keep up with the news.Related ticker symbols.You can check XRP if you're into that kind of thing. And right now, it's got a grade that shows you where the technicals are. Right now, it's showing it at a buy.
Easiest Way To Make Money Trading Crypto in 2021
It's slowly moving back over to neutral. I think that'll move over a little bit today. But this chart right here isn't going to really help us. We're going to have to click The full-featured chart here. And we're going to go to the full-featured chart. Now, I'm going to have Market Cipher already pulled up on here. I'm going to show you guys how to add it from scratch. Okay, so here I am on the chart. Now, you guys can see this is blinding. I need some sunglasses. It's ridiculous. So we've got to turn this tonight mode first the thing you're going to want to do. What we're going to do here is we're going to go down here to Color Theme, and we're just going to hit Dark. Boom!
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So much better. Especially if you're trading for long hours. And I know newer people that are getting into this, and they're having a really hard time with, you know, staring at charts all night long. You're not going to want to be staring at something that's light like that. So this is the chart right now for Bitcoin. As you guys can see, it's not doing great. Now, for Market Cipher, you're going to want to use the Heiken Ashi candles. And you guys can see here at the top of the screen, you can click the candles. It's going to probably default on Candles right here. We're going to want to use Heiken Ashi. That's what Market Cipher uses.
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Now, I went ahead and removed Market Cipher from here so I can show you guys exactly how to pull it up, how to use it, and things like that. So what you're going to want to do is you're going to want to come up here to Indicators. Now, once you send them your username, you're going to be able to pull this up. Click on Indicators here. It's going to take you to this screen. This is an invite-only script. So they're going to send it to you once you sign up. So click on Invite-only scripts. And you can see I have these favorites with some stars on the right. So once we click these, it's going to add them. This is Market Cipher A. This is MarketCipher B. And this is MarketCipher SR.So, the top part here on Market Cipher is going to be some icons and some lines down hereon MarketCipher B. This uses what we call oscillators. So what you want to do here is up at the top, you can see it says MarketCipher A here on the left, MarketCipher SR right here, we want to keep these here--if you ever want to turn them off and just see what it looks like without Market Cipher, you can click the eyeball button there, okay? But we want to click this Hide Indicator Legen and pull that up so we have more of the screen to work with. And, of course, down here, if you ever want to get rid of the oscillators, you just hit the X here to delete the pane.
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If you want to switch these, if you want this at the top, you can just click that, which I don't know why anybody would want to do that. That looks so weird. And so, now, we've got Market Cipher set up and ready to use. Okay, so you guys can see at the top here, as far as timeframes go, I have some things that I've favorited. Okay, if you just click this right here, you guys can see that if you just click the star to the right, it will add these to your favorites up there, so. I don't want the 1-minute. I don't want the 3-minute. I don't want the 5-minute. I'll use the 15-minute, 30-minute, 45-minute.6-hour, and 8-hour, not that important. I do use the daily and the weekly for different stuff, I show you guys on videos. So, this is going to change this bar, so now, now, I can quickly move in between the different timeframes. The general rule with timeframes, the longer the timeframe, the more solid the information is. So, on the 4-hour timeframe, this is going to be very significant. Now, looking at just kind of understanding Market Cipher at, you know, a 30,000-foot view, if you will, okay?
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Basically, kind of some ways that I use it are you look at this-- at the icons here. Okay, this is very simple for new people to learn. These icons are based on proprietary indicators that have all been mashed into one. And so we don't exactly know what goes in to give these indicators, but what we do know is that when you see a green dot, it's good. When you see one of the kinds of yellowish diamonds here, that means the continuation of a trend. When you see the red blood diamond here, that means get out. That means the price is going to drop.--if you're in a long position. If you're in a short position, you would want to go in. We only like too long during a bull market.
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I talk a lot about them-- a lot about that. The trend is your friend. The blue di-- or the blue triangle here means the reversal of a trend. So you might have a trend that is going upwards and then you see the blue triangle, which means it is now reversed. You may want to exit your position, or it might be a good time to load up on a new position. Now, what I kind of use these-- the lines here for are to pick basically entry points into a trade. And we'll talk a lot more about those in the next Market Cipher video. I would just kind of ignore the lines, these waves right no,w and really focus on the icons, but your money-maker is really down here at the bottom. Your money-maker is the oscillators. This is where I do almost all of my trading. A good rule of thumb, when you see the green line here, that means it's a good time to buy. That means we are oversold.
Easiest Way To Make Money Trading Crypto in 2021
When you see the red line, we're overbought, which means that the price could be dropping soon. The green here or the red at the bottom of these waves, this is the money flow indicator. It shows the money's coming in on the positive side or the negative side. Usually, if it's coming in the red, we're going to see a dip. If it's coming in the green, we're going to see the prices climb. The blue is momentum waves. This means the momentum is going upwards. And when this white area here on the left side of the wave cuts in, that's usually, a good time to get in a position. So down here at the bottom, when you-- where you see the money flow also demonstrated by the red and the green, the green dots on the bottom means the momentum has been very strong bearish, and it is time to get in a position to go long. These are really good indicators on The 4-hour chart of when the price goes up. A good strategy with Market Cipher here is just waiting for these green dots on timeframes, the ones at the bottom. The ones at the bottom are stronger than the ones that are on the momentum waves themselves. So you can see that whenever you get a green dot, you do have a green dot on the wave as well, but you can look, you can see here's a green dot.
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Here's a green dot. Here's a green dot. Here's a green dot. These are not as strong indicators. So the most simple way I would say for you to start using Market Cipherwould be just to be looking on these for these green dots on the 15-minute charts and up. But remember, the stronger the--the lower the timeframe, it's not as reliable. So on the 15-minute chart, this is not going to be as reliable as it would be if this were on the, you know, 30-minute charter 1-hour chart, or especially the 4-hour or the daily chart. So that's just a brief introduction on how to set Market Cipher up. It's a lot about using TradingView.You're definitely going to want to learn how to use TradingView very well. If you're going to be using Market Cipher, then there's really-- I mean, you don't have to be using a lot of the stuff on the left, the drawing tools.
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Basically, if you're using an indicator, what you're saying is," I want to take advantage of other people's knowledge. I'm not so focused on setting up my own charting techniques." And it's paid off, you know, very big for me. So it's something that I definitely think, you know, is a very, very, very good strategy. So once again, if you want to check out Market Cipher, you can head on over to bitboycrypto.com/deals.Sign up for By bit and then come down here and sign up for Market Cipher. You can get 10% off through February. So, alright, guys. That's all I got. Drop me some comments down below and let me know what specific things you would like to learn about Market Cipher or about trading in general. Drop those comments down below. That's all I got. Be blessed.BitBoy out.
