Hey Luc, bummer about missing the size trade at 3k, i literally was staring at it ready to load up......went to take a shower hoping maybe it would drop into the 2's like we were all hoping, get out of the shower and dressed and boom back at 3200.....i was legit staring at the 3k price on btc with a decent amount of size (for my account at least lol) and didnt pull the trigger.
Anyway i did buy on the way down as you can see, but my question now is idk if i have my base is correct on BTC or BCC here, would you say 4100ish is a base? If so it hasnt been respected yet as you can see my sell is set for just under it, all the sells going up prior have been small, nibble sells if you will, trying to unload the majority at just under 4100 but im wondering whether that is really a base now. I know you were saying 3900 is the btc base but thats on bittrex im trading usd on kraken.
With BCC i had a base at 500, i missed calling the 468 area a base, wondering now whether i should just sell or if that "500 base" will be respected. Some people in slack have pointed out that both bases i drew have weakened
Would love your feedback on whether im in the safe zone or not.
I was looking at that 4100 area to on kraken and wondering if it was going to bounce back that high.. Here's the issue with Kraken, it trades USD instead of USDT and because it also trades USD/USDT pair, its BTC chart is often off from other exchanges by $100-$200 .. and other times when USD/USDT pair is almost par, then the price of BTC is closer to that of other exchanges.. So this actually throws off the chart.. So I don't know what to tell you, it might get back to 4100s much later than you hope.. like perhaps not on this bounce.. hard to know when there are other forces at play.
Yea its a tough call, I'm gonna ride it out for now, I have more wired to Kraken so i can play if it drops more and be patient, at some point it will have to respect that 4100.....
Both of those trades worked out today and the bases were respected! As you preach Luc the key is patience lol, all in all took like 3 days for them to work out so not too bad. Still beating myself up about not buying large when ETH (200), BTC (3000) and BCH (300) were at those lows. But as you said live to fight another day, still made some good profit so cheers to that!
I thought you entered below 3k because you had told us about this.
I had orders following what you said in the past, bought under 3k and made a good profit :) You forgot to follow your own analysis? haha Maybe you were tired, Luc.
Thank you teacher!
I had only gotten a part fill at 2940ish.. So it didnt show up as a green arrow on my chart.. But yeah, I was off my game this morning.. Kinda painful to watch things go up without you.. although I did make a good trade in ETH and BCC.. but the BTC was kinda crappy, selling 3250s way way to soon..
Think of it this way... you still made money. First one in and first one out and on to the next one. I got in around 3050 and sold off 3200 and 3600. Thank you for all you do man. Wouldn't be doing any of this without that random video of you that I stumbled upon a few weeks ago. Keep up the good work.
With today's video You have me worried that I should sell now at this price of$3,840? It has tried to pass this mark today 6 times on kraken today and today's highs and lows are tightening . Its about to break out or fail. Volume looks much lower then when it was near 3k. What do you think?
i chickened out and sold for 3910. now I can root for the price to tank. actually litecoin. im just judging when to buy and sell my litecoin by what bitcoin is doing since litecoin has no independent news for itself right now. lol
I know. it had to come down to fix the chart he said. I forgot what it had to come down to but when I looked at the chart I decided it was $3000. So I set up to go all in at $3,050.00 but my son turned off my trading computer for me last night. Thanks a lot son! I was going all in on litecoin. Litecoin went up 60% without me! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I simply set my buys below the bases too conservatively, so by the time the big rundown happened, I was already all in, having triggered all my buys. I need to get better about keeping some capital/coins set aside so that I can really benefit during these slumps, but now I'm stuck waiting for 'normal' to return to sell some of these positions... :(
I often struggle knowing when to take profit (mentally flipping between 'Am I being too greedy?' and 'why am I bothering with these low percentage gains?') so I've found myself not trading during spans I should probably have had more activity, even if the trades I do complete are positive/successful ones.
So much more to learn and I appreciate you putting these videos out in an effort to teach us noobies. Also appreciate this humble video that shows us even a veteran trader like yourself can slip up from time to time (if only my slip ups were so few and still netting me gains!) and it helps me ease up on myself mentally as I make my missteps.
PS: Where do you chat with folks? I'd likely lurk for a while as I feel I'm too green to provide any real useful insight, but it would be fun to see others talking the craft.
I learn something new everytime from your videos. The level of detail and insight into your trading mind is phenomenal. It's also good to see the honesty side of you, everyone else would have bragged just being in a trade shadowing any mistakes along the way. That's why you are the best and one of a kind
Your very kind. I enjoy trading, but after spending the whole night up and then making a crappy trade in the morning, I just took the day off to shake it off. We all wait so long to have a good trade (with size), but to watch the trade that you were waiting for go off without you. Its tough, but theres always another one and another one.
Its awesome that we have a great community here, and we all support and learn from each other.
Luc, don't be too hard on yourself.... you called 3000! If it wasn't for your video a few days ago I never would of placed bigger orders at 3300, 3100 and 3000. I know a lot of other people did the same too. You made us money plain and simple. Thank you!
Hey @quickfingersluc sorry it didn't work out the way you wanted it to on this one, but please take solace in the fact that you really are benefitting so many people's lives in a positive way here.
I have been studying your videos and your feedback and I think it's incredibly valuable and I am incredibly grateful for all your efforts. I'm just starting out as a trader and I've been using your methods on my tiny $50 dollar trades and have been slowly building up what little I have.
Your efforts have also built up a community of people advising and helping one another in such a positive way that would not have been possible without your initiative.
Just wanted to say thank you again. I have complete faith that you'll make plenty more than what you would've made here, cause basically you're the man! Keep rockin up there!
This is actually the first time I bought back in at the right time. I was waiting for so long watching it rise without me. I won't make the same mistakes again!
Be careful bitcoin is powerful and WILL "leave you scratching your head" it did come down to fix the chart like you said but it may not come down to 2800 again until the 5th wave up is complete.
The way you broke down everything and the mistakes, that I made pretty much exactly as you did, is one of the best lessons I have learned since getting into this. Mistakes are meant for learning, not repeating. I feel a lot less less a donkey now. Thanks so much.
I have a theory about the large buy and sell Walls close to the current price both being owned by the same whale. I watched for Litecoin for 3hrs between $55 and $58 with a wall of 3,000 orders 4% over current price and 2% under current price. Both walls seem to move slowly up or down with the current price. They would move a couple cents especially if I placed a large buy order just above theirs. Seems like maybe they see a spike in volume and they hope for someone with a large single order to panic sell or Panic buy at market driving the price for a quick Spike down or a quick Spike up either one would benefit them because they could slowly sell off or by back closer to the current but seemingly stable price? This would have to be automated in order to work. And with as much as kraken is non-functional it's hard to believe it would work at all on this Exchange. I can't see how this strategy could help when the price is moving quickly unless you're on a responsive Exchange and you start moving your walls much further from the current price which could be an option built into the bot. Watching the size of the transactions that are actually going through is definitely helpful because it tells a much different story then giant price dodging walls.
I feel your pain Luc. I was right in there too. Got in at 2950 with all the fiat I had left and sold a big chunk of 32s expecting another drop. Then sold the rest as 35s and 36s. My big mistake here was not having enough around to go in size in the first place, and then selling too much of it too low. Still made money, but here I am with BTC having shot way up and my short position was all sold.
Anyway, I wouldn't be participating in all the fun if I hadn't found your inspiring videos and network. Hope to buy you a beer one day.
Been following you on youtube for months. This is great stuff! I agree that breaking 3,000 again would be difficult, do you have another load point if it doesn't retest the 3,000?
I had almost all of my USD into a trade right before the bad news, so while I've recovered and made a small profit from that, I only made like $100 off the HUGE bounce. Ugh.
What's not 'almost' embarassing is selling a lot of coins at $.18 instead of $.28 as that coin had just risen $.12+. And not even noticing that happened till later in the day. That sucked. Still made a little profit when it came back down later (lucky me!) but damn.....
Hey luc!!! New to steemit thanks to you!!! Still learning a lot. I found your youtube and that lead me hear wanting to create and comment where before I had no desire on other social media.
So thank you sir and i'm excited to see what we all make of this great space.
I would also like to add a note I found this ICO Called Cobinhood. Its a crypto trade market with no transaction fees! Sounds cool, im still new to this and honestly do not even know anyone to ask for advise. This seems like something you may get excited about so I thought I would share and get your opinion. https://cobinhood.com/
I found it on a instagram ad so i assume its going to be big. Look forward to your response.
Hi Luc. So sad what happened. I followed your advice, and waited for the long term chart, the GAP you talked about in a video, so I went big at 30's. As you said, the chart needed to be fixed and your were absolutely right, it went bounced at the bottom part of the Box you drew! I did sell at 36's and 37's, I think the price won't handle the bad news. Anyways, thanks a lot!!
I remember going to EF Hutton with my father and watching the older men who hung out there complain about missed opportunities. I shoulda bought IBM, if only I woulda... I later learned to dismiss the shoulda's, woulda's and coulda's from my vocabulary. Let's just move on. Luc, I truly appreciate what you and my fellow followers of you are doing here. This last video was a sincere and truthful lesson of what not to do (probably because of lack of sleep - not your method and abilities). I know that deep inside you there is a powerful positive attitude. So let's learn from this and move on.
I believe it would go to the early 3,000$ so we shall all get advantage of this dump, you can even transfer your BTC to tether to avoid its value loss with this bearish movements and then buy again, making up these losses, which I believe alot of us have fallen for them too.
Hi Luc - Have been watching some of your videos - like it a lot. I am only dipping into it really small - but i have 3 more general questions.
1 - is this the best way to get in touch with you ? To send you messages ?
2 - In General - i have the impression the 5 major coins are very much correlated - at least more on a macro scale. What can you say about correlation and how did you ever trade it ?
3 - I heard you saying you are still trading stocks or penny stocks ... do you make any videos about that - what were you trading when it comes to stocks the last days / weeks - how do you pick them ? Do you use some kind of scanner- or just by looking at the chart ? - Would be great if you find the time to drop me a few lines ? Have a great weekend - Luigi
Yeah, (1)I basically only answer questions on my blog.. Sometimes im in the chatroom. .. (2)The crypto market is alot like the stock market, in that the larger coins are pretty correlated.. Thats how the market works, if there is news that benifits BTC, that is also good for the bigger coins.. Unfortunatly that often means your alert on a bunch of coins will all go off at the same time. (3) No I dont do videos on trading pennystocks, thats a little too complicated and not what my blog is about. But yeah, i use scanners from EquityFeed
Luke, You are one of the most straight forward and easy to follow traders that I have found as a newbie. Your method makes the downs bearable (pardon the pun). So thank you for all of your invaluable posts, and the market scanner. I really appreciate your honesty in sharing your misses as well as your successes. It shows that all are fallible, and even the very experienced are subject to screen blindness after staring at the charts for too long.
My personal tip is that I'm testing out setting the scanner at a -% on my pc and +% on my phone so that I don't have to sit and watch so long. But hey, I know that won't help in the middle of the night when I need to sleep.
I set my alarms, and turn up the volume on my computer for the middle of the night. I am a full time trader, so for if I have to stay up all night for a trade, I can just sleep through the day the next day.. no biggie..
Hey Luc, bummer about missing the size trade at 3k, i literally was staring at it ready to load up......went to take a shower hoping maybe it would drop into the 2's like we were all hoping, get out of the shower and dressed and boom back at 3200.....i was legit staring at the 3k price on btc with a decent amount of size (for my account at least lol) and didnt pull the trigger.
Anyway i did buy on the way down as you can see, but my question now is idk if i have my base is correct on BTC or BCC here, would you say 4100ish is a base? If so it hasnt been respected yet as you can see my sell is set for just under it, all the sells going up prior have been small, nibble sells if you will, trying to unload the majority at just under 4100 but im wondering whether that is really a base now. I know you were saying 3900 is the btc base but thats on bittrex im trading usd on kraken.
With BCC i had a base at 500, i missed calling the 468 area a base, wondering now whether i should just sell or if that "500 base" will be respected. Some people in slack have pointed out that both bases i drew have weakened
Would love your feedback on whether im in the safe zone or not.
I was looking at that 4100 area to on kraken and wondering if it was going to bounce back that high.. Here's the issue with Kraken, it trades USD instead of USDT and because it also trades USD/USDT pair, its BTC chart is often off from other exchanges by $100-$200 .. and other times when USD/USDT pair is almost par, then the price of BTC is closer to that of other exchanges.. So this actually throws off the chart.. So I don't know what to tell you, it might get back to 4100s much later than you hope.. like perhaps not on this bounce.. hard to know when there are other forces at play.
Yea its a tough call, I'm gonna ride it out for now, I have more wired to Kraken so i can play if it drops more and be patient, at some point it will have to respect that 4100.....
Both of those trades worked out today and the bases were respected! As you preach Luc the key is patience lol, all in all took like 3 days for them to work out so not too bad. Still beating myself up about not buying large when ETH (200), BTC (3000) and BCH (300) were at those lows. But as you said live to fight another day, still made some good profit so cheers to that!
How to you evaluate the JPMorgan manipulation?
I thought you entered below 3k because you had told us about this.
I had orders following what you said in the past, bought under 3k and made a good profit :) You forgot to follow your own analysis? haha Maybe you were tired, Luc.
Thank you teacher!
I had only gotten a part fill at 2940ish.. So it didnt show up as a green arrow on my chart.. But yeah, I was off my game this morning.. Kinda painful to watch things go up without you.. although I did make a good trade in ETH and BCC.. but the BTC was kinda crappy, selling 3250s way way to soon..
Think of it this way... you still made money. First one in and first one out and on to the next one. I got in around 3050 and sold off 3200 and 3600. Thank you for all you do man. Wouldn't be doing any of this without that random video of you that I stumbled upon a few weeks ago. Keep up the good work.
Thanks for letting me know. We made close to the same trade on that one..
Great minds trade alike ;) haha
With today's video You have me worried that I should sell now at this price of$3,840? It has tried to pass this mark today 6 times on kraken today and today's highs and lows are tightening . Its about to break out or fail. Volume looks much lower then when it was near 3k. What do you think?
ohhhh this is exciting. its at 3878. watching close to see if it can hold above.
i chickened out and sold for 3910. now I can root for the price to tank. actually litecoin. im just judging when to buy and sell my litecoin by what bitcoin is doing since litecoin has no independent news for itself right now. lol
3900 yes yes yes.
kraken totally just crashed for 9 minutes.
I know. it had to come down to fix the chart he said. I forgot what it had to come down to but when I looked at the chart I decided it was $3000. So I set up to go all in at $3,050.00 but my son turned off my trading computer for me last night. Thanks a lot son! I was going all in on litecoin. Litecoin went up 60% without me! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Missed opportunities are no fun, but atleast you were right.
I simply set my buys below the bases too conservatively, so by the time the big rundown happened, I was already all in, having triggered all my buys. I need to get better about keeping some capital/coins set aside so that I can really benefit during these slumps, but now I'm stuck waiting for 'normal' to return to sell some of these positions... :(
I often struggle knowing when to take profit (mentally flipping between 'Am I being too greedy?' and 'why am I bothering with these low percentage gains?') so I've found myself not trading during spans I should probably have had more activity, even if the trades I do complete are positive/successful ones.
So much more to learn and I appreciate you putting these videos out in an effort to teach us noobies. Also appreciate this humble video that shows us even a veteran trader like yourself can slip up from time to time (if only my slip ups were so few and still netting me gains!) and it helps me ease up on myself mentally as I make my missteps.
PS: Where do you chat with folks? I'd likely lurk for a while as I feel I'm too green to provide any real useful insight, but it would be fun to see others talking the craft.
Just join the slack chatroom from the previous blog post, theres an invite.
I learn something new everytime from your videos. The level of detail and insight into your trading mind is phenomenal. It's also good to see the honesty side of you, everyone else would have bragged just being in a trade shadowing any mistakes along the way. That's why you are the best and one of a kind
Your very kind. I enjoy trading, but after spending the whole night up and then making a crappy trade in the morning, I just took the day off to shake it off. We all wait so long to have a good trade (with size), but to watch the trade that you were waiting for go off without you. Its tough, but theres always another one and another one.
Its awesome that we have a great community here, and we all support and learn from each other.
Nicely said. I couldn't agree more.
Luc, don't be too hard on yourself.... you called 3000! If it wasn't for your video a few days ago I never would of placed bigger orders at 3300, 3100 and 3000. I know a lot of other people did the same too. You made us money plain and simple. Thank you!
Well thats awesome. I'm glad my chart reading was helpful. I cant predict the future, but im pretty decent at reading the chart :)
^^ what he said
Hey @quickfingersluc sorry it didn't work out the way you wanted it to on this one, but please take solace in the fact that you really are benefitting so many people's lives in a positive way here.
I have been studying your videos and your feedback and I think it's incredibly valuable and I am incredibly grateful for all your efforts. I'm just starting out as a trader and I've been using your methods on my tiny $50 dollar trades and have been slowly building up what little I have.
Your efforts have also built up a community of people advising and helping one another in such a positive way that would not have been possible without your initiative.
Just wanted to say thank you again. I have complete faith that you'll make plenty more than what you would've made here, cause basically you're the man! Keep rockin up there!
Nice
This is actually the first time I bought back in at the right time. I was waiting for so long watching it rise without me. I won't make the same mistakes again!
Nice. Any buy during a panic under the 3,600 was a good buy..
Im right there with ya quickfingersluc..too much FUD last night :((
You're still a pro in my book. Thanks for the content, I've learned a lot from you in very little time, looking forward to more.
Be careful bitcoin is powerful and WILL "leave you scratching your head" it did come down to fix the chart like you said but it may not come down to 2800 again until the 5th wave up is complete.
The way you broke down everything and the mistakes, that I made pretty much exactly as you did, is one of the best lessons I have learned since getting into this. Mistakes are meant for learning, not repeating. I feel a lot less less a donkey now. Thanks so much.
I have a theory about the large buy and sell Walls close to the current price both being owned by the same whale. I watched for Litecoin for 3hrs between $55 and $58 with a wall of 3,000 orders 4% over current price and 2% under current price. Both walls seem to move slowly up or down with the current price. They would move a couple cents especially if I placed a large buy order just above theirs. Seems like maybe they see a spike in volume and they hope for someone with a large single order to panic sell or Panic buy at market driving the price for a quick Spike down or a quick Spike up either one would benefit them because they could slowly sell off or by back closer to the current but seemingly stable price? This would have to be automated in order to work. And with as much as kraken is non-functional it's hard to believe it would work at all on this Exchange. I can't see how this strategy could help when the price is moving quickly unless you're on a responsive Exchange and you start moving your walls much further from the current price which could be an option built into the bot. Watching the size of the transactions that are actually going through is definitely helpful because it tells a much different story then giant price dodging walls.
Thank you again Luc. Another video to prick the mind in the right frame of thinking. Cheers Paul :)
I feel your pain Luc. I was right in there too. Got in at 2950 with all the fiat I had left and sold a big chunk of 32s expecting another drop. Then sold the rest as 35s and 36s. My big mistake here was not having enough around to go in size in the first place, and then selling too much of it too low. Still made money, but here I am with BTC having shot way up and my short position was all sold.
Anyway, I wouldn't be participating in all the fun if I hadn't found your inspiring videos and network. Hope to buy you a beer one day.
Been following you on youtube for months. This is great stuff! I agree that breaking 3,000 again would be difficult, do you have another load point if it doesn't retest the 3,000?
"It's almost embarassing."
LOL. Yeah.
I had almost all of my USD into a trade right before the bad news, so while I've recovered and made a small profit from that, I only made like $100 off the HUGE bounce. Ugh.
What's not 'almost' embarassing is selling a lot of coins at $.18 instead of $.28 as that coin had just risen $.12+. And not even noticing that happened till later in the day. That sucked. Still made a little profit when it came back down later (lucky me!) but damn.....
Hey luc!!! New to steemit thanks to you!!! Still learning a lot. I found your youtube and that lead me hear wanting to create and comment where before I had no desire on other social media.
So thank you sir and i'm excited to see what we all make of this great space.
I would also like to add a note I found this ICO Called Cobinhood. Its a crypto trade market with no transaction fees! Sounds cool, im still new to this and honestly do not even know anyone to ask for advise. This seems like something you may get excited about so I thought I would share and get your opinion. https://cobinhood.com/
I found it on a instagram ad so i assume its going to be big. Look forward to your response.
Hi Luc. So sad what happened. I followed your advice, and waited for the long term chart, the GAP you talked about in a video, so I went big at 30's. As you said, the chart needed to be fixed and your were absolutely right, it went bounced at the bottom part of the Box you drew! I did sell at 36's and 37's, I think the price won't handle the bad news. Anyways, thanks a lot!!
Also took advantage of btc balance and made really nice trades in the panic. This is my best one:
https://www.coinigy.com/s/i/59bdd9771f06f/
I remember going to EF Hutton with my father and watching the older men who hung out there complain about missed opportunities. I shoulda bought IBM, if only I woulda... I later learned to dismiss the shoulda's, woulda's and coulda's from my vocabulary. Let's just move on. Luc, I truly appreciate what you and my fellow followers of you are doing here. This last video was a sincere and truthful lesson of what not to do (probably because of lack of sleep - not your method and abilities). I know that deep inside you there is a powerful positive attitude. So let's learn from this and move on.
It's too hard to see you being upset :-(
Hello Luc,I've seen you talk about levels of trading, for example level 1 and 2. would you mind me asking what you mean by that??
I believe it would go to the early 3,000$ so we shall all get advantage of this dump, you can even transfer your BTC to tether to avoid its value loss with this bearish movements and then buy again, making up these losses, which I believe alot of us have fallen for them too.
Hi Luc - Have been watching some of your videos - like it a lot. I am only dipping into it really small - but i have 3 more general questions.
1 - is this the best way to get in touch with you ? To send you messages ?
2 - In General - i have the impression the 5 major coins are very much correlated - at least more on a macro scale. What can you say about correlation and how did you ever trade it ?
3 - I heard you saying you are still trading stocks or penny stocks ... do you make any videos about that - what were you trading when it comes to stocks the last days / weeks - how do you pick them ? Do you use some kind of scanner- or just by looking at the chart ? - Would be great if you find the time to drop me a few lines ? Have a great weekend - Luigi
Yeah, (1)I basically only answer questions on my blog.. Sometimes im in the chatroom. .. (2)The crypto market is alot like the stock market, in that the larger coins are pretty correlated.. Thats how the market works, if there is news that benifits BTC, that is also good for the bigger coins.. Unfortunatly that often means your alert on a bunch of coins will all go off at the same time. (3) No I dont do videos on trading pennystocks, thats a little too complicated and not what my blog is about. But yeah, i use scanners from EquityFeed
Luke, You are one of the most straight forward and easy to follow traders that I have found as a newbie. Your method makes the downs bearable (pardon the pun). So thank you for all of your invaluable posts, and the market scanner. I really appreciate your honesty in sharing your misses as well as your successes. It shows that all are fallible, and even the very experienced are subject to screen blindness after staring at the charts for too long.
My personal tip is that I'm testing out setting the scanner at a -% on my pc and +% on my phone so that I don't have to sit and watch so long. But hey, I know that won't help in the middle of the night when I need to sleep.
I set my alarms, and turn up the volume on my computer for the middle of the night. I am a full time trader, so for if I have to stay up all night for a trade, I can just sleep through the day the next day.. no biggie..