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How to use the Mango Dashboard – A Quick Guide!

This is a quick guide on the Mango Dashboard writen by Ajesh, a Seedling & an esteemed member of the Mango community. Ajesh is a seasoned trader who walks you through his process on how he utilizes the Mango Dashboard in score successful trades. 

Introduction

I just wanted highlight how I have been using the dashboard in the last month or so, in the hope it will help somebody. The dashboard has a range of amazing features and can be used in many ways. Like many of you I have a full time job so do not have hours to search the charts. For the purpose of this write up I will be focusing on longs only.

Part of my daily routine

It  is very tempting to go straight to the charts first thing in the morning. However, I like having a system/routine that I follow. So, the first thing I do is look at BTC on the dashboard (BTC is king). I then filter for longs only (in this juncture of the market), this keeps it simple for me. What the dashboard allows me to do is search hundreds of coins in just a few minutes and clicks – saving a huge amount of time. This then gives me a handful of charts to check out if I like the volatility profile.

Volatility profile

Colour

Volatility

Volatility Numbers

BLUE

LOW

1 - 40

AMBER

MEDIUM

41 - 60

RED

HIGH

61 - 100

Looking for a LONG Setup

The reason I like the profile on the right is that every timeframe is long and the volatility is super low (compression leads to expansion). To give me additional confidence we also have bullish ichimoku flags on the 12hr, 1d and 2d.

I look for the higher time frames to be long and the lower timeframes 4hr and 12hr to be neutral or long. In some cases the 4hr can even be short.

The reason I like the profile on the right is that every timeframe is long and the volatility is super low (compression leads to expansion). To give me additional confidence we also have bullish ichimoku flags on the 12hr, 1d and 2d.

This profile on the right would match the example of price action I was discussing. Where higher timeframes are long and the 4hr is short

Taking profits

When in a long once the volatility starts to become high (red) I start being cautious and begin to expect the trend to becoming to an end soon and can look to take profits. Of course using nothing in isolation. For example, if you were in a long and volatility was high you could then switch over to your chart to see where the resistance is coming in at.

Using FVG’s on Mangoview

Fair value gap (FVG) occur when there is an inefficiency or imbalance in the market. This is an amazing feature on Mangoview which automatically draws in FVGs on your chart. I like to use the bullish FVG to catch a good bid. I then use the bearish FVGs to take profit.

Process

  1. Filter dashboard for trend and volatility
  2. Check out the chart
  3. Does the chart fit your system/strategy
  4. If so use the FVG for entry

Summary

There are lots of ways to use the dashboard. I have highlighted a couple of ways that I like to use it. Please remember not to use the dashboard in isolation.

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Bybit Crypto Options Trading Tutorial 

Bitcoin Options Trading on Bybit

Crypto Options Trading has been unavailable to the mass public for a very long time. However, Bybit  recently released their Bitcoin Options Trading Platform. And boy are we excited!

Now, we understand that Options Trading may be intimidating to many folk! We’ve been there. We’ve been just as scared. But it’s actually a lot simpler than it looks!

Options Trading: Crypto Just Got Safer 

It may surprise you to hear us say this: Crypto just got safer because of Options Trading! 

Most people think that Derivatives like Options are far too risky and are only for gamblers. But in truth, Bybit’s introduction of Options trading has actually made their platform safer than other Futures & Derivatives platforms that don’t have access to Options.

One of the golden tenets of the Mango Way of Trading - is to Risk Manage First, Profits Second! And now with Options Trading, Bybit offers increased safety by allowing you easier risk management.

Hedging with Calls & Puts using Options Trading

Many folk don’t know this: Options derivatives are primarily used for HEDGING.

Yes, that’s right. Professionals use options primarily to hedge their positions. Now, don’t get me wrong - there are definitely enough people who gamble using Options Trading. But they aren't professional traders with any size.

The big traders use Calls & Puts to hedge against upside risk, as well as downside risk.
“Wait - what do you mean by ‘upside risk’ ?? “ - Yes, there is upside risk as well.

Farmers, for example, use derivative contracts like Options to hedge against upside risk all the time. Farming is a very risky business - sudden changes in weather or pest-infestation can cause massive supply issues and increase the farmer’s costs, and hence reduce revenue.

To mitigate this risk - farmers protect themselves using Options & Futures derivatives trading.  Hedge Funds & Corporates routinely use options contracts to ensure that a price of an asset does not run away from them.

Bitcoin Options Can Protect Against Fomo

Now, you might be thinking: “Well, this won’t apply to me, I’m not a farmer or a hedge fund”

Well, that may be true. But have you not ever worried about missing a certain price-point of the market? For example at the moment, Bitcoin is currently sitting at a key-level $20,000. Many people are wondering if this is the bottom. You might be waiting for confirmation about a certain level?

But what if you want to go on vacation? And Bitcoin breaks above that level and runs away from you? Hell, by the time you come back Bitcoin could be at $40,000 again!

This is precisely where Call Options help. You can protect yourself against the risk of Bitcoin running away from you by simply buying a call Option. You can learn how to do in this great video where Krisha explains it all super simply:

Crypto Options Trading on Bybit : How to use Call Options

Bitcoin Options Can Protect Against Downside

Similarly, using Bybit’s Options Trading platform can allow you to protect yourself against a massive dump. By using Put Options on Bybit, you can protect your portfolio from risk without having to use risky stop losses. 

How many times have you gotten “wicked out” of a good position only to see price go up? …way way up?

Imagine getting a great bid on Bitcoin or Ethereum. But now you have to leave for your long-weekend Cottage Vacation. Uh oh. What do you do? Do you place a stop loss? How far?

Most people place tight stop losses in crypto because they are afraid of the volatility. And inevitably, they come back to a position that got stopped out and now is much higher than before. Ouch.

Instead of using a stop-loss, we can now purchase Puts on Bybit’s Option Trading platform to protect ourselves! It reduces stress, and reduces risk 🙂

Bybit Crypto Options Trading: Stress Free

The Crypto markets are extremely volatile. And it’s precisely this volatility that plays with people’s emotions and causes them to make mistakes.

 “Oh God, what if Bitcoin pumps while I’m on vacation and I miss it → I’ll just buy here to be safe”

But then when you get back from vacation, you see a price of  $13k. Ouch.

Instead, you could have simply bought a Call option (a few strikes high) and gone on vacation. Sure, it would cost you a few hundred dollars. But it’s way better than coming up to a $10,000 loss!! Ouch. And on the flip side, if Bitcoin actually breaks up while you’re on vacation, you stand to gain a lot of profit! 

Options are literally insurance contracts! For both sides - the bulls & the bears. And Bybit introducing them on their platform has now allowed us to “insure” are positional biases.

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Ethereum Difficulty Bomb Explained Simply 2019

By Shawn Dexter / January 13, 2019

Ethereum's Difficulty Bomb is often misunderstood. Most explanations are convoluted and technical. This post is a simple & quick explanation of what is the Ethereum Difficulty Bomb. Shawn also explains it's relation to the block reward reduction in Ethereum and the Constantinople update!

What Is The Ethereum Difficulty Bomb?

With Ethereum's Constantinople update coming up on  January 16th 2019, there have been an increasing number of questions regarding Ethereum's "Difficulty Bomb".  Most other explanations out there are either far too complex are simply wrong.  In this post I will give you guys a simple and clear explanation of what Ethereum's Difficulty Bomb really is and why it was put in place.

Ethereum Difficulty Bomb: The Simple Explanation

The Ethereum Difficulty Bomb simply refers to a tool within Ethereum. This tool allows the core Ethereum developers to adjust how difficulty it is for a miner to win a reward. ​Miners win rewards each time they create a new block and add it to the blockchain.  

When the Ethereum Difficulty Bomb is set to "detonate", it will get exponentially difficult for miners to win rewards via mining. But why would the developers want this? Because eventually they will want miners to stop mining and start validating. Remember, Ethereum is set to transition from Proof of Work to Proof of Stake. There is no mining in Proof Of Stake. We will have validators instead.

Ethereum Difficulty Bomb: A Dis-Incentive For Miners

Even though Ethereum may switch to the Proof of Stake chain, the miners may  continue mining on the Proof Of Work chain if not properly incentivised. In order to avoid security issues (like a fork), the developers wanted to give the miners a little "nudge" to switch to Proof Of Stake. The Ethereum's Difficulty Bomb would reduce their rewards on the Proof Of Work chain, and thus incentivise them to switch to the Proof Of Stake Chain.

Why Was The Ethereum Difficulty Bomb Delayed

​Unfortunately, there was a delay in the upgrade to Proof Of Stake. And the entire point of the Difficulty Bomb was to incentivise miners to switch to Proof of Stake. So the Ethereum team decided to delay the difficulty bomb until Casper was ready.

ethereum-difficulty-bomb

Ethereum Difficulty Bomb Reduces Block Reward

Ethereum Inflation Rate & Difficulty Bomb

The delay, however, did not sit well with long term investors. Long term investors were looking forward to the difficulty bomb (and Proof of Stake). Why? Because lower Block Rewards would mean a lower Inflation Rate. This was going to be a very bullish update for long-term investors. Since people Difficulty Bomb was delayed, the Ethereum team decided to add a Block Reward Reduction to the Ethereum's Constantinople network upgrade!

Follow Up Reads:
Ethereum's Issuance & Inflation Rate Explained

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