I’ve been trying to brush up on my TA skills and came across this video last night. It covers the basics of TA or Technical analysis. Using RSI, MACD, watching trade volume, looking for entries & exits in the trade.
The guy in the video does mention his paid group. I’m not a huge believer in paid groups. If your joining a paid group to learn from more advanced traders, or further your knowledge of trading, that might not be a bad idea. Although you can find the same info on Youtube or reading a decent article on investopedia. However, if you’re only joining a paid group to receive buying signals, or follow someone else’s trades, I think that’s a bad idea. I’ll post more about my thoughts on paid groups in future posts.
For now, thought this basic introduction to technical analysis was worth sharing.
Once you have the files go to the downloads directory and extract the compressed files you downloaded. I extracted mine with ARK. Use whatever you use for extracting compressed files.
Once the files are extracted. Drag and drop the smartcash-1.1.1 folder into your home directory.
Open the smartcash-1.1.1 folder and create a new folder inside it called smartcash
Open up the bin folder now, and cut smartcash-qt and paste it into the new smartcash folder that you just made.
We now have to make the smartcash-qt file executable. Open your terminal program amd cd to:
Once you’re inside the smartcash directory we need to make the smartcash-qt file executable. Type ls to make sure the file is there and that you’re in the proper directory. Once you verifie the smartcash-qt file is there type:
chmod +x smartcash-qt
The file is now executable. Next we want to open the program. Make sure you’re still in the smartcash folder and type:
This will open the smartcash wallet.
Whenever you need to open the wallet you need to go to the smartcash folder and open it using the above command. ./smartcash-qt
If you’ve done everything correct the wallet should open and ask you to select the data directory. I selected the default directory.
Once you select the data directory the program will open the wallet and begin to start downloading the blockchain. The size of the SmartCash blockchain is very large and depending on your internet connection could take several days. To fix this we’re going to click on “FILE” and “Exit” in the upper left hand corner of the wallet.
YOU ALWAYS WANT TO CLOSE THE PROGRAM LIKE THIS. DO NOT JUST CLOSE THE WINDOW USING THE X IN THE RIGHT HAND CORNER. IF THE PROGRAM IS NOT SHUTDOWN PROPERLY YOU COULD CORRUPT YOUR DATABASE FILE
Once we’ve closed the program we want to return to our downloads folder and uncompress the txindexstrap.zip file. Once the file is extracted we need to return to the file manager, in Dolphin you click control and check “show hidden files” to see all the hidden files on your computer. You are looking for the .smartcash folder.
Once you open the .smartcash folder you want to delete both the “blocks” and “chainstate” folders. Once those two folder are deleted. Return to the downloads folder or wherever you extracted the txindexstrap.zip file. Open up the extracted folder and cut the “blocks” and “chainstate” folders and paste them into the .smartcash folder.
OK we’re almost finished. Now create a text file inside the .smartcash folder and name it smartcash.conf
Inside smartcash.conf you will write one line of code.
Save the .conf file This basically helps the wallet to organize the blockchain data
Now from terminal return to ~/smartcash-1.1.1/smartcash
Once you are in the proper directory type:
And your wallet will open and begin to sync the new blockchain. It took about 8 hours on my computer. If you were to do this without the bootstrap file, it would probably take several days depending on the speed of your computer and internet connection.
Once the blockchain syncs you should have a working SmartCash wallet. At this point it is highly recommend that you back up your wallet. Simply go to “file” then “Backup Wallet” Save the backup file on a usb stick. I try to keep a couple different backups on different computers and usb sticks.
In the event you ever need your backup, simply go to the hidden folder .smartcash and replace wallet.dat with your backup file and all should be right again in your world.
I would suggest making backups after each use or at the very least weekly or monthly.
Hope you found this tutorial helpful. Thanks for reading and watching the video. Happy trading!
LINK: Video & tutorial on trading the head and shoulders pattern.
Technical analysis of charts can sometimes be very helpful to traders. There are many different patterns or trends that appear in stock and cryptocurrency charts. Understanding these patterns and recognizing them can help give the investor an edge.
Nothing is 100% when speculating on price, but this is a simple tool, many investors use to watch the price and speculate on its next likely position.
As many of you know The Dood is a huge fan of OKcash! I was talking with my cousin the other night and she expressed an interest in learning about cryptocurrency. I decided to get her and a couple other relatives started with OKcash this Christmas. It’s a strong coin, has a decent market cap for an alt, and lots of community support. Not to mention an easy to use wallet with support for most OS platforms.
IMO the best way to hand out holiday cryptocurrency would be to hand out paper wallets. However, to insure that the paper wallet had a backup I also backed it up with an image and uploaded it to a USB drive. I then placed the printed out paper wallet, and the USB stick in a gift box and wrapped it for presentation. Here’s what I did.
Finished product! Paper wallet printed out, usb stick with jpg image of paper wallet.
First thing go to the OKcash github to create your paper wallet.
There are multiple themes to choose from, I selected one of the Christmas themes.
Now make sure you press the single wallet tab, then click on generate wallet and it will automatically generate the wallet for you and create a couple matching QR codes for the public and private address. Now take a screen shot of the wallet you created and save it in jpg format.
The paper wallet screen shot that was printed out and saved to USB stick
I should note, that there is a way to create a really cute paper wallet / gift card but using my Firefox browser I just couldn’t get it to print large enough. I have no idea what I was doing wrong, whether it was my printer or the browser but it just wasn’t working for me. However, taking the screen shot and printing them out almost reminded me of a stock certificate and it looked really cute with the Xmas theme. So I took the screen shot, cropped the image in Gimp however any image editing software would do, printed it out and then loaded the image onto a USB stick for a backup.
Now if you have a phone wallet, that you’ll use to load the wallets, just scan the public qr code on the printout and transfer the OKcash. Send a small amount first, then go to the blockchain and make sure it accepted it and everything is working good.
If anyone is quick enough, there’s 9 OKcash for the grabbing. Not a lot but I wanted to show a test transfer for loading the wallet.
Once the paper wallet is loaded, place in box with USB drive, wrap and give for Xmas.
What a fun way to introduce friends and family to cryptocurrency. You can do this with any cryptocurrency that offers a paper wallet. The process is pretty much the same. Thanks for reading, happy holidays, and wishing you all a prosperous New Year!
The Dood wishes you all a happy holiday and prosperous new year!
Here’s a video from OKcashHelp showing you how to do it.
Don’t forget to check out the OKcash forum, when you get a chance.