ChangeNOW AMA Recap With Alan Masters

ChangeNOW AMA Recap With Alan Masters

By xqanxxx | xqanxxx | 3 Jul 2020


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This article is a recap of the recent AMA session between the changeNOW Community and Alan Masters who is an author, №1 Crypto Blogger on TradingView! 🧘‍♂️ The session took place in ChangeNOW's Telegram Group and on the 29th of June 

The following text was edited for clarity.

Alan Masters - Background

Jeremy ChangeNOW: Hello @AlanMasters! Thank you for joining us today! So, let's start with the background!

Q: Could you please tell us a bit more about yourself: what are your interests and hobbies, how did you become familiar with crypto?

My pleasure... Let's get started. Sure thing... Thanks for your question. I am a young adult living in the Dominican Republic. I live with my girlfriend, we are a team :smile:... We work really hard. I am interested in life, spirituality, money, meditation, nature... Everything natural I love it. I enjoy sports, hanging out with people, sharing, having fun, drinking, studying, just being, and basically everything is good with me.

I started with cryptocurrency in a search for Money... Thinking now that this is something really common. I started seeing the charts and studying the altcoins with the purpose of making money out of it in the future.

Q: How long have you been in trading? And what are your main achievements now?

I've been trading since 2016 mainly... Been in crypto before that but actively buying started around that year. My achievements would be financial freedom... Lots of new friends and contacts. Huge entertainment, work is very entertaining. I don't know any other...

Jeremy: That's true! Freedom means a lot! Let's talk a bit about your blog and website:

Q: Why have you decided to start publishing your ideas and what do you offer to your subscribers, readers, and followers?

Same as what got me into crypto...The intention was to share information/knowledge that would help people earn/make money. I thought that if people could make money by learning from my educational content, eventually they would be able and willing to support me. So the main purpose was like work.

On the website/platform, we have a basic system that I developed that can be used to trade any asset... Can be crypto or anything else...We offer educational content and numbers which people call/consider trades.

Jeremy ChangeNOW: Let me share the links for those who haven't seen them yet:
@AMTrades
alanmasterstrades.com
tradingview.com/u/alanmasters

Alan Masters: We also have a chat room and we support each other by exchanging ideas... My supporters can also contact me directly when they have any questions related to our platform.

Questions From The Live Session

Q: Many believe that Traders offering premium signals do not actually make gains from their trading but profit majorly from the fees they charge for these signals, what do you have to say? and how would you shake off this notion?

Don't need to shake it... In my experience is also true. It took me a while to become profitable and trading can be hard if you have a very active/eventful life. Most likely most of them are profitable with trading, based on my experience and those that I know.

Q: What indicators do you use most often to prevent defeat?

RSI, MACD and EMAs mainly. I focus on Candlestick reading and market cycles.

Q: Can You talk about the trading Journey so that newbies like us can get some type of Knowledge/motivation? How did you become so successful?

Time and patience. It takes longer than any beginner would think. If you have patience, persistence, and dedication, trading can be a great tool for your finances.

Q: Many new crypto users are coming day by day, but they get confused about where to start, from where to learn about trading? What's your opinion on this?   It is something that they need to work on. We offer the basics in one single place but I know it can be hard to get started as there is tons of information and it can be overwhelming.  

Q: Once I found a complete E-book about the RSI indicator and it made me realize how little I knew about it and the same is probably true for other indicators. So my question is: Where do I find free and nice content about indicators and how do I know when I’m ready to use them in the right way?  

You can start by practicing... and use it live once you have the results you want.  

Q: Hi, MR.alan @alanmasters May I know the step or the secret how to do what you've done now? Being a trader it is very difficult to manage our emotions. How do you do that? Any motivation, please?

Meditation! It would have been impossible for me to control my emotions and be successful in trading without meditation. I would meditate every few minutes or hours in between work sessions. Breath deeply and study hard each time. The dedication also did a great part for me.

 Q: What advice would you give to someone who wants to learn to trade? Or which educational material they should read first? With so much content out there, what would you recommend?

Start as basic as possible. Start with no or little money...I would recommend candlestick reading which the method that I use to get started. From there you can expand but never get lost into too many tools as they are not necessary. Try to keep it simple, keep a cool head, breath deeply and everything will work wonders for you.  

Q: We see, Top traders so-called whales are able to fluctuate the price of any token when they want, Do you think its good for the market & new traders?  

We can only print temporary changes in the charts... They fluctuate and move according to market cycles. It is irrelevant to new and/or old traders... What is important is to buy in right so you can end up with a successful call.  

Q: In starting Any New trader just wants to make loads of money from trading, They do leverage trading & lose all the money, What's your advice to new traders, how to start in this market?

Forget leveraged trading. Beginners should skip leveraged/margin for at least the first 1-2 years...Start with spot trading and as basic as possible... And as you become successful and profitable you can go from there.  

Q: As you mentioned about Premium member, What are the benefits of Alan masters PREMIUM membership? What is the requirement for being a premium member?

We offer the basics of trading based on my own method and experience. 100% original. It requires a small fee to gain access to educational content and chat rooms.  

Q: Could you tell us something about how do you started Trading, which Problems you've faced during Trading? & Which common mistakes we should not do while Trading, etc?

For sure...The first thing to avoid is jumping in too quickly and putting all of your "eggs" in one basket. That is one of the first actions to be aware of, can turn into a financially and emotionally painful mistake.

I faced many problems and always concluded that picking the wrong trades and making the wrong calls is more deeply connected with our thinking/mindset, who we are than the trade itself.

So, if we can calm our minds we can produce great/better results. If you manage to feel good inside and level out your emotions, you can always make the right calls... Not only in trading but in life as well.  

Q: Alan How is crypto’s market is different from the stock market??  

The difference between the Stock and Crypto markets are many. The access to the assets is quite different, cryptocurrency is more accessible. The prices swings/waves/market movements are so much bigger with crypto, the pace is faster. Crypto is more open and new.  

Q: Did BTC respect technical analysis then (2015-2017) more than now?  

I don't think BTC cares about TA but the charts can be really accurate if you know how to read them correctly.

Lately, TA has been working wonders on my end... But it isn't reading signals only, you have to deal with the feelings and emotions in yourself to be able to understand what you actually see.

I think there is so much going on in the background, feeling the market, that is necessary to be successful when reading charts.  

Questions from Twitter

Q: I'm part of the crypto community that still believes in diversification rather than just having everything under one egg. Do you agree with this concept?

For sure... I am 100% for diversifying, not only your coins/pairs but also the platforms you use and your savings. Diversify everything.

Q: Many people think that technical analysis is something to help us have the confidence to cling to the market, what do you think about this?

TA will definitely help you with your decision making and your own confidence and security when trading. "Knowing", in a way, what will happen next or the potential scenarios will have you more calm. Calmer can result in very decisions.

Q: Does fundamental analysis matter in crypto currency trading?

If you need it, it does. If you have a method that produces results, works for you, then it won't matter... For me it is irrelevant as I can produce the results that I am looking for without it.

Q: I have indicator on Tradingview called "gooner ema" that's something i use on every time frame and especially on lower time frames along with the 99sma close. I have a specific strategy built around these three MA's alone. That is successful on any time frame. Your opinion?

Keep it up, keep using it and add/remove when necessary.

Q: Many trading groups are used to give only signals, So is there any practice in your group to educate the newbies?

On the website, yes... There we have some of the basics, we call them strategy articles and how to get started. It explains how to use the signals and some general strategies that can help you maximize success while trading.

Q: Once I found a complete E-book about the RSI indicator and it made me realize how little I knew about it and the same is probably true for other indicators. So my question is: where do I find free and nice content about indicators and how do I know when I’m ready to use them in the right way?

You can always find lots of stuff on the search engines, basically endless.

Trading View is another great place to start.

You can start now, open a chart, put in the indicator and start playing with it... The rest will come up on its own.

Q: 1. Do you think ichimoku cloud is useful for technical analysis?
2. Is there a smooth strategy you would recommend for beginneres?
3. Is there any way to learn technical analysis academically?

1) It is a great indicator.

2) Always look for those that are low... Skip those moving big or already moving. Start with a calm feeling/mind/presence and go from there.

If you are too excited, sit back, relax and later try again.

Q: With Nasdaq & Dow Jones on an all-time high now, do you see BTC now coming to ATH this time around? What are the Do's & Don'ts in trading? Any advice you can share to those who wants to trade?

I don't see Bitcoin doing any ATH at the moment, it is a long ride to get there.

It can surely change as the charts are always changing, but right now I don't think it is the moment.

The Do's and Dont's are simple... Do stick to your plan. Don't panic (remain calm). Take your time. There is always a second, third, fourth and more chances.

Q: Most traders use variety of trading tools indicators such as Ichimoku Cloud, Bollinger's band, RSI, EMA, MACD etc to help them in decision making. What top 3 trading tools indicator would you recommend for every trader?

Mainly the moving average lines, great indicator.
The RSI, easy to use and gives out strong signals.

The MACD for the divergence and convergence and more.

I've tried so many and they all work but keeping it simple is even better.

Q: Why did you decide to unite the cryptographic world with spirituality? Any particular personal experience you wish to share with us?

Spirituality changed my life in ways that cannot be described.

Spirituality is what lead me to cryptocurrency as a source of income... It helped me so much in so many ways, that I wanted to share it with others.

You can make money and grow personally at the same time... Who doesn't like that? :blush:

I've had many visions while working for you guys... I have to stop right there on the spot, close my eyes, breath deeply and enjoy!

Namaste.

 

Looking forward to learn about and use  changeNOW Instant Exchange? Visit changenow Website

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