Crypto Traders Pro is proud to present its latest podcast featuring ChingasX, a trader and educator for the Trading Room App. The Trading Room Price Action App is a multifaceted, Cryptocurrency Trading Scanner that will help you Save Time and Profit More while you’re navigating the Crypto Markets.
Lessons Learned When Bulls Turned Bear
The interview kicks off with ChingasX revealing a bit about his tech and cryptocurrency background and what motivated and inspired him to educate people about the Trading Room App. ChingasX started trading 2 years ago. As the market switched from bull to bear, he struggled with being emotionally attached to his investments and managing a portfolio that was in a loss. But ChingasX was not alone – the giant swing in market conditions from late 2017 to 2018 took a toll on a HUGE portion of investors, especially those that jumped in late in the game. People previously not involved in the crypto space heard about Bitcoin from mainstream news like CNBC & CNN, where celebrities in the finance and tech world like James Altucher and John Mcafee made predictions like Bitcoin easily hitting $1 million by 2020. And that’s when FOMO kicked in and many people made investment moves that would soon completely wipe out their portfolios.
However, ChingasX decided that rather than going sour on the concept of cryptocurrency, he would take away two lessons from his experience – the importance of sound Technical Analysis along with NOT allowing himself to be an emotional trader. We couldn’t agree more! Taking profits and using stop losses to avoid emotional investment are a few of the pieces of fundamental advice we give to traders over and over again. If you haven’t already, check out our free video series on growing a small trading account, it’s one of our favorites and aligns perfectly with the takeaways ChingasX had in 2017-2018.
ChingasX has started to build up an audience as he set out to educate people on how to utilize the scanner and understand things like Fibonacci within the Trading Room App. He does a great job explaining the scanner for beginners so they can Save Time and Profit More when trading in the Cryptocurrency markets.
Trading Room Future Developments
If you’d like to start using the Trading Room app, the great news is that it is currently FREE! The Trading Room team is working on new modules, adding other exchanges & trading pairs, and more features like price alerts, which will likely be a paid feature upon release. As of now, the app is integrated with Binance, but plans to expand to other exchanges include Bittrex, Bitmex, Bitfinex, and Kraken. Even KuCoin is on the radar! RSI and Watchlist are already live on the Trading Room app, but keep your eye out for upcoming features like:
- MA Crossover Scan
- MA Distance Tracker
- Live Support & Resistance Levels
- Trading Room Liquidity Index
- Volume Scanner
Who the Trading Room App is For
ChingasX is envisioning a platform that acts as more than just a scanner. As someone who shares our passion for crypto education, he hopes the app will help connect traders with the educators they need at their current level. Whether they are brand new to the trading game, intermediate, or advanced, there is a learning or mentorship program available.
On the other hand, the market scanning features of the app are best positioned for those who have a basic understanding of Technical Analysis (TA), and are searching for trending coins that deserve deeper analysis. If you spend hours looking at charts to get a grasp of which coins are going which way, this app is for you.
How Do You Grow and Develop as a Trader?
ChingasX emphasizes in this interview that it’s important to have a form of mentorship when you are first navigating the intricacies of cryptocurrency and trading (whether it’s stock trading, FOREX, commodities, or anything else.) Luckily in this day and age, there are a tremendous amount of free learning resources available to get you started. Here’s a few that we recommend:
- This video from the Trading Room YouTube channel goes over the basics of using the Trading Room scanner
- ChingasX YouTube channel has a large collection of Technical Analysis videos
- Crypto Traders YouTube channel has a variety of video content, ranging from FA to TA, developer interviews, trading strategy, and opinion pieces
- Twitter – Twitter is full of drama at times, but it also gives you insight to what’s going on with key players in the crypto space. Give us all a follow – @chingasX, @tradingroomapp, @cryptotraderspr, @kurtwuckertjr, and @mjtraderpro
The first few weeks of getting serious with cryptocurrency are the hardest. Free resources like those we shared above are a fantastic place to start. Some people learn better via mentorship, which we offer via Crypto Traders Pro. Even once you are established in your fundamentals, a support system and trading community will bring your knowledge and skill to the next level. ChingasX doesn’t believe that it takes years for to become an intermediate or pro, and we don’t either!
This is where we shamelessly plug our community at Crypto Traders Pro. We have an active and growing community that helps bring efficiency to your trading, similar to Trading Room. Having a lot of eyes on the charts helps bring the best trades into focus and gives you the support and knowledge you need to trade with confidence. We’d love if you joined today!
In conclusion, ChingasX emphasizes that he doesn’t believe in frivolous things like price predictions, how 2019 will be, what the space will look like in terms of lambos, and anything else not based in sound Technical Analysis. What he does believe in is that cryptocurrency and blockchain tech is in the early stages of the growth cycle and that’s exciting stuff!
We think that there are big things ahead for Trading Room and we are excited to finally see a scanner app like Trading Room become available to the cryptocurrency community.
What do you think? Do you plan on using Trading Room to search for coins? Do you plan on sharpening your skills to execute a trade without emotion? Let us know on our Facebook Page!
Watch the interview here or listen to it via podcast at any of the links below: