Steemit Crypto Academy | Season 3: Week 5 || Death cross & Golden cross, How to use Binance P2P trade by @vhenom

### INTRODUCTION Goodday sir @yousafharoonkhan hope you are doing great? Nice lecture you've got there I've gone though it and it's an interesting one, the golden cross ,death cross and the p2p. Now from my knowledge of what I've learnt this is what I've come up with

Define Death Cross and Golden Cross in your own words. And what is the significance of DC and GC in trade? And what effect do these two have on the market?(in your own words.)

THE CONCEPT OF DEATH CROSS AND GOLDEN CROSS
Before talking about the death and golden cross we have to talk about indicators cause the golden and death cross are more like indicators and what do indicators do? They help us to predict the price movement of asset. We must understand the moving average first before learning the concept of the golden and death cross. The moving average is actually calculated automatically as soon as your add your moving average indicator it's calculated already. But for the calculation The MA is a technical indicator that's is derived by the addition of points to a period and then dividing it by the number of periods for instance a 80 moving average is the addition of the closing price for the last 80 days.

Both the death and golden cross are derived from the combination of 2 MA's i.e the combination of a short moving average and a long one, the death cross I'd derived when the long moving average passes through the short moving average while the golden cross is derived when the short moving average passes through the long moving average

From the chart above you can notice that when the short MA passes through the long MA which leads to a golden trend is formed, there is an upward movement in price and likewise when the long MA passes through the short MA which causes a death cross is formed, there is a downward movement in price. So whenever we see a death cross a downtrend awaits and whenever we see a golden cross an uptrend awaits.

Explain the points given below;
How many days moving average is taken to see Death cross and Golden cross in market for better result and why?
How to see death cross and golden cross on the chart.
Explain Death cross and Golden cross on the chart, (screenshot necessary)

Like I said earlier to determine the golden cross and the death cross we need 2 moving average along MA and a short MA. To get like the most appropriate or perfect cross you need to select the right proportion of both the long and short moving average. For example a short MA of 20 is very compatible with a long MA of 100 likewise a short MA of 20 is compatible with a long MA of 200 but the most appropriate is combination of "the the 50 length short MA with the 200 length long MA" it's mostly used by traders and the death and golden cross works on any given time frames depending of the type of trader you are weather you are a long term or a short term trader ,for a short term trader you can use a time frame of 5min, 15min 30mins time frame why a long term trader Cain use a time frame of 1day 3days 1week e.t.c

The golden and death cross forms faster of a shorter time frames than a longer time frame. The 50 short MA and the 200 long ma are the perfect combination of both the short and long MA cause the combination of the 50 MA and the 200 MA. the 50 MA might serve as a short or a long MA depending on the the moving average that is against it, the 50 MA shows the price of the last 50days the fact that's the 50 MA isn't really a short one, but it's made a short one cause the the moving average that is against it which is the 200 MA shows the that the tends coming trend will be a strong one.

HOW TO SEE THE DEATH CROSS AND GOLDEN CROSS
• The first step we taking in finding our death and golden cross is to open or trading app, here I'll be using the binance app

• Go to market and select any pair of your choice

• click on the switch over sign which I already indicate

• select indicators

• select MA since we need moving average to fine the death and golden cross

• unclick the MA3 since we dealing with only 2 moving average and input 50 in MA1 and 200 in MA2

• after doing all these input your 500 and 200 respectively

The death cross

The Charts below shows a death cross cause whenever the 200ma moves past the 50ma there is usually a downward movement in price after that so whenever we see a death cross we should expect a downtrend which is a sell signal just observe the chart below.

the golden cross

Whenever the 50ma pass accross the 200ma there is usually an upward movement in price so whenever vwe see a golden cross we should should expect and uptrend is which Also a buying opportunity

What is Binance P2P and how to use it ?
How to transfer cryptocurrency to p2p wallet?
How to sell cryptocurrency in local currency via p2p (any country or coin)(screen shot neccessary to verify account)

BINANCE P2P
The p2p is an acronym for peer to peer or person to person. This platform helps traders to buy and sell asset from one to another.

How to transfer your crypto to your p2p wallet
• The first step you taken is to go to your wallet

• click on spot

• click on transfer • select the amount of the asset you want to transfer

• and then select transfer

How to sell your cryptocurrency via p2p
• You go to your wallet and click p2p

• click on sell botton since we are selling

• click on the asset you want to sell if it's USDT, BTC, BNB, NGN e.t.c

• you can also use the filter to input the amount you want to sell

• you'll see a lot of buyers that's are willing to buy at that price just select one

• click on "by crypto"

• And your selling trade is active, now binance enables both traders to be able to communicate to eachother by chatting and you can even call the buyer also.

I couldn't complete the sell trade because I don't have enough asset in my binance, I sold them a week ago

THINGS TO KEEP IN MIND WHEN DOING P2P TRADE
• Before engaging in the p2p trading you me have patience like they all say patience is the best virtue. There are lot of times where I do sell my asset but the buyers always pay late or few minutes to the end of the transaction which is actually frustrating but you can't blame then cause it might be the network from Their end or not.

• Be cautious of scammers there alre lot of people there who are scams so before trading with anyone on the p2p platform try as much as possible to check out Their rating or feedbackif their rating or feedback is good you can't trade with then but if it's not it's a risk you are willing to take, actually trading int the p2p is a risk.

• Always read terms and conditions before trading. You can select a buyer and the buyer's terms and condition is that he's going to deduct certain amount cause of bank charges and other but the fact that you didn't take your time to read the terms and condition you just went into the trade and when he transferred you your money which you think isn't complete you give him a bad rating which actually affects his profile negatively.

ADVANTAGES	DISADVANTAGE
*It gives you the chance to meet new traders	there are lot of scammers
• Trading on p2p is free	it's sometimes slow which is influenced by the buyer who didn't transfer funds immediately
• It doesn't involve a 3rd party	there are no rules guiding the p2p except it's made by the trader which is his/her terms and condition
• you can sellor buy any amount of crypto you want to buy or sell using different methods as long as there is a buyer or seller for it	there are lot of frauds if you are scammed there is no one to pay you back... No insurance.

conclusion

Thank you for the lecture professor @yousafharoonkhan I really enjoyed this one the death and the gilded cross I'll add it to my collection of indicatirs. The more indicator the better

#yousafharoonkhan-s3week5 #cryptoacademy #goldencross #deathcross #p2ptrading #nigeria