Hi @quickfingersluc, @allyourbase11 made a slack group for people to chat, share charts and talk about bases. We're not asking you to join because we know you're busy, but it would be great if you could mention the Slack in a blog post so more people see about it and join.
Sure, I will come check out your room in the next few days.. Does a slack room have moderators? While I like the idea, I don't think there is enough action, during the day to keep a room active.. This market is soo small that I have no trouble keeping up with the opportunities.. I bearly take 3-5 trades a day most days in crypto.. whereas in the stockmarket there are thousands of stocks bouncing around.. Just OTCBB stocks alone have over 10,000 stocks.. Meanwhile Bittrex list 255 coins..So you can see how our little market is still quite small, dont get me wrong, there are plenty of opportunities trading crypto, and you can easily make a good living trading only this market, but it might be a little slow for a chatroom..
119 members and growing, content is pretty active and easy to navigate. I suspect this will help to reduce the number of questions you face in your blog Luc.
I like it. It may not be a place of action packed all the time trades like luc mentions(though it could be), but it seems like a nice middle ground between that and the pace of blog comments. Thanks for making it!
Maybe a telegram group? We can discuss trading and investing. I'm in a really constructive group already, search "ride to the moon" on telegram. Also "the coin farm" is good as well. Happy trading and investing!
Hi Luc and anyone one else here who could help, I'm fairly new to the crypto market but your videos have been perfect to build up my confidence to trade. I want to enter the market at £300 as a starting point and go from there, what would be the best way to start off and which coin
maybe? Really would appreciate advice from
everyone. Keep up with the vids !! @quickfingersluc
I am looking out for opportunities to do some serious position trading via Luc's method but so far I can't find any. At first I listened to the general opinion to buy only when a price is 10% below the base, now I compromised that to 5% but nothing seems to dip that far below the base.
This is how I split my coins. May help if you dont have android.
I started with my BTC on an Electrum wallet.
Sent my BTC to another wallet, in my case Bread Wallet on my iPhone. My Electrum wallet now showed a 0 balance of BTC.
uninstalled Electrum and installed Electrum Cash wallet. The config files were still all there, so it immediately showed a balance of BCC. I didn't even have to recover using secret phrase.
Sent the BCC to Bittrex.
Waited 24 hours and sold it for .0977! (YMMV on price)
I'd like to say a big Thanks for the knowledge that you share. It is so insightful and has made me money in a very reliable way. I really appreciate that you are back making videos :-))))))
@quickfingersluc -Can you please let me know how to handle those day trades ? I mean as soon as I get the alert i open the chart and I see the price is back to where it was before the drop or close to it so i cant make that trade. It seems to happen in seconds which is too fast to catch that trade. What I should do in this instance ? Placing a buy order to where the drop was seems not to be a good ideea as from what I see the drop seems to happen once not multiple times. Please help me with this. What I should do to catch those drops ? Its very frustrating not to be able to make a few trades because thigs happens in seconds not minutes. Thanks once again for everything and i`m looking forward for your answer
Hi Luc,
Thanks for the Videos And comments... what i have noticed is Bitcoin or cryptocurrency is quite confusing to people mainly the initial set up for accounts How small can they start trading capital. what exchanges they should use. even me i would love to see a full set up as there seems to be no videos explaining this in full. i tryed 2 platforms and found that position trading is the way to go i also tryed the other i was on iq options and the buy and put spread would kill you as a day trader like 50-80 pips at one point it was 50 in and then later when i had made some proffit to exit i would loose 40 pips so a total of 90 pips what a joke.... so i was hoping you might make a startup video on how to get started and how to trade with low capital for those that want to try but dont want to risk much regards Will-i-am-7521
1 month back, I had no idea about Crypto trading. After watching Luc's videos, I have started trading a few days back. Before that, I opened my accounts on Bittrex, Bitfinex, Kraken and waited for them to get verfied, bought Bitcoins from an ATM, Local Bitcoins and waiting for my account to get verified on Coinmama to buy directly from my card. I started very small (16$ to be exact) and steadily gaining each day just by following Luc's advice. 16$ is not much, but I am waiting to buy 100$ worth on Coinmama. But even with 16$, I have made it into 36$ in just a few days. So, in my opinion, nothing is small, where there is a will there is a way. I have wacthed Luc's videos more than 10 times each. Sometimes, I just observe his computer screen to see what things he do which sometimes he forgets to tell ( little things like his screen size, his alarm sound etc) because he is trading for 10 years+. I know 16$ could just be a price of a burger in your city, but where I am located currently, average salary is 200$. So, it's a decent amount of money for many people. Luc is very busy with his personal tradings and there are something which we have to find it on our own. All the best with your tradings. Hope you see only green days ahead :)
I am always checking this blog. I keep doing it few times per an hour, I always check whether Luc has posted a new video :-) Or replied to a comment.. I can't stop myself :-D I am addicted :-)
I have ton of questions to ask and I am waiting till Luc posts his next video to ask all there :-)
I really don't have much to make a video about today. Everyone has been asking me to make some videos on Day Trading, (but I'm hesitant, because its dangerous, and new traders could lose money, vs position trading which is so simple) ... As far as the position trading goes, its well explained in my videos.. I dont want to make videos, just to make videos.. It has to be valuable content, so perhaps when I see the next big opportunity on the market, Ill make another video.
I Luc, I would love more info on day trading as well. Even though it's a bit more dangerous, I feel that it's a great way to learn because you can get more trades on your shoulders and learn how the market works. At least that's how I see it after doing it for about two weeks. I Think people need to consider that it's a bit more risky so just put less money into it until you feel more comfortable. In my case, I've been making some money but I need more guidance, I feel most of the time I'm acting on gut feeling. So it would be great if you could make a video more in depth about it
@quickfingersluc While I agree that day trading is very dangerous, I feel that people will do it anyway, so it's best to inform them instead of letting them go their own way.
it's the perfect storm.. everyone trying to sell, but unable to move there free coins... it's like a rat race to hit the sell button, only you have to wait many hours to move it to the exchanges.. Im ready to buy into big down spikes when they happen...
For most of your followers the question remains: how do we know when its profitable to buy on a downspike via daytrading on a chart like BCC which appears to be heading down down down down down? Your position trade method is very logical, but day trading with a coin such as BCC doesn't share the same obvious traits @quickfingerluc. Help?
Every situation is different, but trading is always the same, because you are dealing with humans.. SO daytrading is alot like the position trading that you are getting use to.. with bases and surprise panics, the only big differences is timing and risk.. Daytrading is risky (not safe like the position trading) Panics dont always bounce like they should, but the chart always tells you the story...
1st thing is your daytrading, so you have to be on a 5min candle chart.. then you have to read the chart so you know when panics are getting rediculous.. heres the current 5 min chart of BCC
can you see that every few hours we get a big sell off? thats when a block happens and finally some people have there BCC moved to bttrex.. then they dump the price and then it has a chance to settle for a few hours while we wait for the next block.. but the chart is showing this, even without knowing the back story... it tells you that there is way way more sellers than buyers, and they show up every few hours.. Notice the one 47% 5 minute drop ... it was so rediculous that it almost bounced back to the base.. thats a true panic... then every other smaller drop didnt make it back to there bases because there are way way too many sellers, this chart shows extreeme weakness... the next drop was 27% and the last drop was only 13% but i drew in Xs to show you where they didnt return to there 5 min bases..
So you can see how this is very unpredictable, and you could easily get stuck in a trade that leaves you bought in too high while the price slowly disappears on you.. You have to respect the risk.. you have to act fast.. You have to be willing to take a loss quick too if your wrong.. Its not an easy game..
Thats why I avoid trying to teach people how to daytrade, because so many will lose there money trying to time fast moving panics that dont bounce like they should...
Anyway, in regards BCC.. if there is a quick 5-10 minute drop of 30-50% or more I would be loading for a good bounce... so here at 273 i would consider buying around 160 and under, only if it happened in a fast drop, then if it paints a 2nd red bar to under 100, oh man i would get monkey long/buy big... and make huge percentages on the bounce..
I hate to say any of this on my blog, because its soo unsafe, and could get people hurt, and please remember I have been day trading for many many years, so I have an unfair advantage... (so if you feel nervous you are in too big, keep it small when your new)
If you start posting tutorials on daytrading like you have been on position trading, then It might be wise to add a disclaimer image at the start of the video which states something about how by daytrading a person will likely lose money if they don't know what they're doing. Then you can share whatever risky information knowing fully that every person who watches the video is responsible for their own decisions to take risks and you did your best to warn them.
I'm saying this to let you know that I'm one person (probably among others) who wants to get into daytrading cryptos but I'd like to do it right, and I trust your experience and value the information you put forward. I hope that when you post daytrading videos, you won't hold back.
I have noticed that the people who are attempting to daytrade in the Slack group (see above) are almost always (1) brand new traders (2) do not have the fundamentals of position trading down yet (3) haven't payed attention to Luc's content or might have poor comprehension skills. They tend to be here for the gamble, the thrill of the experience, but they are taking great risks without the firm logic to back it up. I know this won't be popular, but perhaps Luc would be best to not discuss his day trading philosophies until his community has caught up with the basics of position trading. Personally this suggestion hurts me because I have the fundamentals of position trading down pat, but I know that the needs of the community outweighs my own needs. With that said, we cannot stop someone from taking risks, it's their life and they have the power of choice - so maybe my suggestion to tone down the more risky day trading content is pointless. I see both sides of this coin so to speak.
People will always complain about losing money, but they can only blame themselves. I don't mind taking risks and even if I got wiped out I wouldn't complain. I like your in-depth chart analysis, it helps understand more chart types and how you can trade other coins in different ways.
As there is little historical data to technical trade, you have to think about fundementals.Keep an eye on spreads on different exchanges and mining hash power.The difficulty level dropping will also make it more profitable to mine.
As of a few hrs ago most exchanges were more or less at same price so price will stabalise more now.
BCC is here to stay, Roger Ver will make sure of that.
I would say daytrading BCC is as dangerous as it gets. It's freefalling and doesn't even touch previous tops. Luc's probably mainly trading it cuz it allows insane volume on a trade, and you can squeeze in 10-20% if you catch things perfectly.
Luc showed some of the trades we should buy, but I think daytrading is quite a science more complicated than the usual.
Edit: Never mind. Just read Luc's comment.
YES YES YES and more YES. To illustrate, check the price of XBT at .0729130 at that time was roughly equivalent in USD to the price at ETH/USD. In fact at this moment you get almost $1 USD extra equity from trading ETH/XBT over ETH/USD. When trading currency pairs the proportions may look different visually due to the economies of scale.
I'm very happy that there are people like Luc who are willing to share their trading strategies in order to help strangers in need. It's amazing, thank you very much!
I know you have posted 3 good strategies that we can utilize with the scanner. However, I would like to ask for your opinion on what you think about trading simple support and resistance with stop loss?
I think that's what Luc means when he says "trading in range". He mentioned a few times that he considers charts like these with high percentages good "account building charts".
How can you even stop loss except on Poloniex or making makeshift orders?
Thanks for the awesome video's, Luc! One thing you have mentioned a few times but never gone over in detail is the Series 2 chart. What is a Series 2 telling us and how do you use it?
Series 2 seems to give detailed information about the candlesticks(open, high, low etc.) So you don't have to search for that on the chart. It lets you analyze each candlestick in detail, uou can check it out on Coinigy. I don't know how one would utilize this more advanced information though.
Thank you so much!! I always appreciate your consideration, letting us know your opinion on this as well as other advice. I'm trying to learn more about day trading too!!
I pulled all funds from Poloniex yesterday morning, after they were having issues and the site was down weds.. I dont waste time getting the heck out at first signs of trouble with cypto exchanges..
Sounds sensible.
I raised a support ticket on Poloniex 57 days ago and I have still not had a response, which is clearly unacceptable. If you have a issue while using their exchange don't expect their help to resolve it.
Since the May/June boom in crypto they have really struggled, it appears to be a HR and miss management problem rather anything underhand going on, but in this unregulated world of crypto, you never know!
Hi Luc,
I want to thank you for sharing your experiences and knowledge in both Steemit and Youtube, I am learning a lot thank you very much.
I need to ask you a favor, in steemit the person @andreaskrieger downloaded your previous channel your videos, he is willing to share them if you authorize it, is that possible?
There are some people with me who are eager to enjoy this information, please consider it and give us your authorization.
Thank you
I was given that entire library, so I now have all my old videos. I am planning to review them and then re-upload them on the my new channel.. Here's the thing, I ran into security issues with that old channel, so I need to review those videos carefully, to make sure I dont have any sensitive info on display... But after I go through them, i'll gladly re-upload them for everyone.
The other consideration, is that the subject is often about daytrading pennystocks which is not crypto, the theme of this blog.. but Ill still upload them with some sort of explaination that its not exactly on topic.
Regarding Coinbase.. if you kept your BTC on Coinbase/GDAX after all of their warnings to move to a private wallet, and all of the 100s of crypto articles warning you to take your coins off exchanges.... then you deserve to wait for 2018.
If Bitcoin Cash has a future, then all those people that have their BCC locked in Coinbase, will thank Coinbase for making sure they didn't panic sell it like the rest of us haha.
One small problem... most of those articles were also partially wrong. The people who did the best with BCC trades were those who left BTC on HitBIT and Bittrex. Everyone else is either fucked, or left with the scraps. I've learned that cold storage is for savings, while exchanges are for active trading - I am prepared to lose everything I am trading with at any given time. Those articles that tell EVERYONE to get their coins off exchanges weren't seeing the bigger picture, they should have included numerous caveats.
Very true. I wish i kept more on Bittrex.. that said, i dumped what i had on bittrex at like $350.. before it went up to $1200. But regardles.. i have no sympathy for people who left their coins on Coinbase.
hey Luc so I have been trading Bitcoin Cash non stop last couple days and all was well until the panic set in. I have been watching it and waiting to see when we could get in and it looks to me like there is heavy support around .150 - .153 . Would you suggest anything below that would be nice to buy? I bought 1 BCC at .091 just in case but wanted to hear when would you start buying in?
Hey guys, a question from a new trader here (I know my question isn't related to Luc's specific post here, but as it is the most recent, I decided I'd ask here.). As someone who is just starting out with a small account, how should I divide funds between exchanges? Should I put all my funds into a single exchange, build up and then spread out? Recommendations for an exchange with good day trading potential?
I have been following Luc for the past month, slowly watching all his videos and taking things in. Last week I was finally ready to start trading, so I bought some ETH on Coinbase - it was a great deal in comparison to buying BTC - and opened up accounts with a number of brokerages since it would take time to get verified. Now that I finally have my coins and am ready to move them into the exchange, I don't know where to start. I won't be able to jump on any daytrading opportunities in time if I wait to spot a trade before moving it to the exchange with that trade.
Thanks in advance for any help and comments from the many knowledge trades I've seen in the comments!
Start with Bittrex or HitBTC. Bittrex has around 200 altcoins to trade, and hitBTC has lower volume so you will probably be able to trade some ETH pairs. If you're new and you want to daytrade then you should probably trade with like 1% of your account. Look for coins paired with ETH that have high volatility and move in a range. I don't bother spreading between exchanges but then again i only have like 0.20btc. Just customize the scanner to one exchange and you are good to go.
I use Bittrex (very easy to start and so far very trustworthy). For now I too have a small account and trade exclusively on Bittrex. As you get more experience, trading on multiple exchanges is very beneficial but even on one exchange I have been making a killing all thanks to luc and his trading methods and the experience i get every day learning more and more about trading patterns in cryptoworld. I highly suggest starting out on Bittrex and get familiar with trading because you will make horrible trades once you start to make money. I realized you really do have to learn how to control your emotions to make the decisions for you.
I'm not sure from your post if you purchased coins from coinbase and paid the fee? Or if you used the GDAX?
If you PURCHASE COINS from Coinbase, they charge you a somewhat small fee.
But something kinda cool(in case others may not know), is that if you link a bank account with Coinbase, you can deposit hard cash directly to your wallet. Once you deposit the cash, you can then purchase whatever coin you want on the GDAX EXCHANGE directly with your cash, and avoid ALL/ANY fees!!!
Once you do that, you can transfer from your GDAX wallets to wallets on any other exchange you want to trade on (BitTrex for example).
NOTE: You automatically have A GDAX Account if you have a Coinbase account.
I transfered my BTC to Coinimi and tried the procedure but never received any BCC. In their FAQ's it states: -
----Any BTC sent to Coinomi after block 478558, the block which initiated the fork, are NOT liable for BCH claim.---
I wish had seen this before I attempted it, it's cost me.
oh, that's ok @profitsfinder. Your BCC is still on your old wallet's address, just on the new chain. Download Electrum Cash wallet and restore your keys using the 12 word restore code from your now empty BTC wallet. As long as you had BTC on it before the fork, the BCC will be there waiting.
Hello Luc, thanks as usual for the new content!
What exchanges do you use for trading cryptos? I currently have half of my assets in poloniex and bittrex (and a tiny bit on Kraken) and half out in my wallets, and I want to put mostly everything back for trading. I'm considering adding Etherdelta, although that wouldn't work with Coinigy. Any other suggestion?
I like to live dangerously
My sell order missed by 2 satoshi as usual so I had to sell later. There was big FOMO and the rally so buying as risky, but I could have walked with 20% profit if i was a tiny bit more lucky.
I think loss would be minimal, the real problem was i mistyped a 0 in my sell order and lost like $20 cause of it. It wasn't a smart trade either way, I just bought cause of the endless rally expecting it to go to 150 or 200, my order almost went thru at 140.
Hey Luc! Brand new to the blog here. First of all, thanks for all the videos and tips! It's easy to see there is huge opportunity here and I'm ready to start. The thing is I'm having trouble getting started. I currently have 1ETH in a coinbase wallet that i purchased a week ago, but I'm not sure of the best coins to trade in right now considering i have such a small amount of starting capital to trade with. Currently, is trading coins with coins the best way to go? Any advice would be appreciated! Thanks!
1 ETH is more than enough to start on Bittrex. You should find smaller coins with decent volumes to make profits and shift to the bigger coins. I am sure Luc has mentioned this more than once in many of his videos.
Hey guys, the slack group is nice. But slack chat is VERY MESSY!!!
I opened a facebook group for Luc traders...you can share whatever, and facebook is great at organizing replies and threads.
please join here
Disagree. Slack chat is far superior over Facebook, it is designed for business teams, highly searchable and threaded with bots and even voice over IP abilities. Slack is my favorite team communication tool by far, I won't use Facebook Groups anymore.
Hi, @quickfingersluc I love your videos, was considering trading for some time and I always look for simple no bullshit strategies and ofc you got me amped up like crazy. :)
I know you're busy but if you find time for this one cos i went over all your videos and couldn't find info on this..
I have questions about those spikes trades… So I caught this one and I went on monthly chart to check if it happens before and it did.
What's the time frame from 10 min chart that you wait to go for 50% drop? (so it doesn't slowly grind down...)
My solution for this would be to go back to previous spikes in 10min frames to check how spikes reacts but coinigy doesn’t let me go back that far… As far as I can read from those charts in 60min frames it looks like we get 30% drop but no 50% ones. So are those trades interesting in risk award fashion?
Repeat of my comment on your last post :)
Hello! Thank you again @quickfingerluc ! In the video of 'Day trading vs Position trading', you mentioned that videos directed specifically at daytraders will be released, once the scanners are out. Well, fortunately, the scanners are out, so will we be getting the daytrading vids soon? :)
Hi Luc, I have a quick question about bases. The image below is yours that you used in another comment on this blog. The thing I'm a little confused about is with the blue arrow. Why didn't you consider it a base a base? Because it gave a pullback and a big bounce.
Hope you can answer it and keep up your great work! I'm in profit thanks to you!
Yup, that can be considered a base for sure.. I missed it, because I take 2 seconds when I drew that chart up.. I just looked at the chart a drew a bunch of bases, but didnt notice that one .. Your totally right tho, it qualifies
So I'm getting confused...shall we use position trading to trade the minor bases too or do you not bother with it? I feel like there's a few % profit if we exit at bases, but often it goes 5% down 15% up.
Examples:
I feel like these minor bases break all the time, they seem pretty reliable but I dunno...If I use 2 or 3 months chart most of them will be almost invisible. is it worthwhile to do all these trades? It seems that the profit is minimal if we sell at the bases, but if we try to ride the profits that kinda goes outside of the strategy.
you are entering the realm of daytrading.. if you scale down to smaller charts like 2 weeks worth of data, then you have to scale down to 15min or 5 min candles, to get a clear picture of how reliable the small panics are.. But remember that the % of profit will be smaller, which means more risk.. Thats why I stick to 1hour candles and 1-2month charts, so that the set ups are very reliable and the % of profit are bigger.. But if your comfortable with more risk, than it is very doable to trade 5min charts on a very active coin.. you just have to be fast at taking small profits
I am new too, but in my opinion, the base is depend on the rebounce, in this case is has a rebounce for sure, but when you zoom out, you wont consider thisis a base.the lower one,touched twice, and look at that huge bounce all the way up to the top,and this is one is absolute safe than the one near the blue arrow.I hope this can help you a bit
@quickfingersluc: I noticed that NBT/BTC took a huge panic dive yesterday as BTC was popping, seemed like a great opportunity to buy up at the bottom. But there was something VERY odd about this chart that I haven't seen before.
The data showed that there was one guy selling 15 BTC worth of NBT, he is clearly a NBT whale on the ask side because the total volume was only 100BTC or so. As he ran out of coins to sell, suddenly someone appeared on the bid side requesting the same amount of coin for the same price. As the day wore on, this whale (we can only assume its the same same person or team) went back and forth across both the ask and bid sides of the data.... the question is WHY? This doesn't make sense to me, do you have any insight? Its as if he is holding the price down intentionally, I cannot figure it out.
Level 2 is always hard to figure out, unless you have context.. So in this example, there is a big seller, and he keeps flipping back and forth from bid to ask.. Is he trying to manipulate the price buy scaring sellers or buyers by flashing big orders? Does he actually have a ton to sell and he only adds to the bid now and again to try to get the price to turn back up so that he can sell into it? Its very hard to figure out off level 2..
So I only use level 2 in a context situation. ... An example of a context situation is: there is a quick sell off, the price drops big and then some huge bids appear, then i am ready to start buying in with them.. the context is the huge drop and then buyers are starting to support the price..
Another example of context is where again the price drops huge and then there is still a big seller sitting on the ask, only he is alone and then buys start gobbling him up.. the context is that the one seller dropped the market, he had a huge order to sell and hes almost out of coins, so I eat what he has left and once hes gone, there is no longer a motivated seller present so the coin should rally.. In these type of instances, where you have clear context, then level 2 is useful.. Otherwise its a guessing game trying to make sense of people motives on level 2
hey Luc, I need help with this trade. Did I mess up? EOS/BTC on HITbtc. I bought at 59 and 56 thinking it would retest support at 61, but it fell short. I am wondering if maybe the larger green candle a few days back was the real support. Do I sell or hold? I am 7k into this trade LOL. Also, any news on when the market scanner will allow us to change the time frame?
thank you! https://www.coinigy.com/s/i/5987429b68c74/
Not Luc. This is not a base, at least not a major one. The base was lower where u can see the price bounced to. There was no big bounce or drop off this one. You should try selling off significant bounces.
I am new to all of this and have watched Luc's videos. WOW! what great information. I made a trade and sold half at an 8.4% profit, then later sold the other half for a 16.5% profit. :)))))
Can anyone tell me how I can tell what I actually made, BTC or USD??? Is there any kind of calculator available that I can use to compute the profit/loss of trades?
Ik dont no if the methode stil works, al alt coins are only going down, down, down and no bounce up OR little ones. Had siacoin and etc buth only lossing on them becouse the only going down.... When Bitcoin crash alts go down when Bitcoin gose up alts go down, dosnt make any sense...
H Luc, thanks a lot for you're interesting videos !
Could you tell us here or in a video, if you're using simple sell limit orders or sell stop limit orders. If you're using the latter, could you give us an example of where you put the stop and where you put the limit order ?
Hey Luc, Thank you for your videos, I am learning alot about cryptotrading.
How do you do your trades? Do you stick to the pair or do you switch between coins?
For example if you buy Ethereum with bitcoin do you then sell it back to bitcoin at a profit or will you trade it to something else (like USD)?
I have noticed on some of the coins that I have in my portfolio that I bought with bitcoin that the value of bitcoin keeps going down but up against USD so it made me think that perhaps I could sell the coin to USD instead of waiting for the price of bitcoin to go up higher than I bought to make a profit.
The problem is to know by doing this how do I know selling it this way its at a profit?
So I was wondering if you do this and if yes do you have some sort of strategy in place that ensures you are getting a profit?
For me, this comes with experience and you have to actually get out there and do trades yourself. You are on the right track tho that observing the price or demand shifts and how each coin or USD gets affected. Studying the coin's chart and history will help you buy and sell at the right moments. Right now, I have sold some of my BTC for USD at $3400/coin since btc has risen so fast, but more importantly chart history says btc will likely fall hard again. I could then use the USD to buy coins lower, and now I'll have more coins.
Even though this answer isn't from Luc, I hope this helps.....I want to contribute from time to time since Luc has helped me on my crypto trading ventures.
I marked a base for XVG and guess what proving you are always correct it cracked the base today and bounced back.
I wasn't aware of this because I almost forgot to check and I marked that base on 2nd August at 11.25P.M GMT+5.30
It did bounce back but I have a doubt, Did I identify the base correctly? I don't take the very bottom of the dip I take sightly up before that where the price touched 2 or more times.
I also check for the same base in the past to see how many bumps it had.
Yellow is the base I drew and red is the lowest price of that dip.
Since now it bounced back up which point I should consider as the new base ?
White line (0.000000090) or Light blue line (0.00000093) ?
Hey Luc, just wanted to share a successful trade I made using your method. I set an alert for when price cracked the base and waited until I got alert. Bought in the morning and set a sell limit right away. First one for me!
While the method works most of the times, it can fail from time to time; so, good that you made profit, but buying something that fell 4% and using Luc's method is quite risky. Before you buy you want to see a big drop, especially for smaller coins! Things can drop 50% or more, so if you buy after a 5% drop (with a 5% expected return), you'll get into trouble when one such trade fails, burning the profit of tens of such trades!
Hey Luc, have you ever had problems with the coinigy interface (failed to cancel, failed to buy etc)? All my trades were geared to profits but when I can't cancel a trade or buy during a dump it just pointless. I hate it when the only reason I lose is because of the interface.
Yeah, that happens.. thats why its good to be signed into the exchange as well , during any big trades, so that you can manually enter your trades on there platform if Coinigy lets you down.
Is this a valid base. I feel the support and resistance that make up the arguement could have to small of a spread to be profitable. https://www.coinigy.com/s/i/598ae239770a1/
HI Luc, if you get a chance, can you comment on this. Is my line a base line. I used because there are three bases. Now the time scale is 15 min not 1 hour and some are suggesting the base is far lower. Just wondering your thoughts.
Have a look at the price action straight after a bcc block comes in, so much edge there.
I love the way how Luc explains everything in his trading and share it with us. Highly recommended to anyone out there!
Hi @quickfingersluc, @allyourbase11 made a slack group for people to chat, share charts and talk about bases. We're not asking you to join because we know you're busy, but it would be great if you could mention the Slack in a blog post so more people see about it and join.
https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ
Thanks again for sharing your strategies with us!
Sure, I will come check out your room in the next few days.. Does a slack room have moderators? While I like the idea, I don't think there is enough action, during the day to keep a room active.. This market is soo small that I have no trouble keeping up with the opportunities.. I bearly take 3-5 trades a day most days in crypto.. whereas in the stockmarket there are thousands of stocks bouncing around.. Just OTCBB stocks alone have over 10,000 stocks.. Meanwhile Bittrex list 255 coins..So you can see how our little market is still quite small, dont get me wrong, there are plenty of opportunities trading crypto, and you can easily make a good living trading only this market, but it might be a little slow for a chatroom..
119 members and growing, content is pretty active and easy to navigate. I suspect this will help to reduce the number of questions you face in your blog Luc.
Gonna join, sounds like a decent idea.
Its been pretty boss so far. Let me know if you join, I'll make you an owner
I like it. It may not be a place of action packed all the time trades like luc mentions(though it could be), but it seems like a nice middle ground between that and the pace of blog comments. Thanks for making it!
Just joined, love the idea!
Maybe a telegram group? We can discuss trading and investing. I'm in a really constructive group already, search "ride to the moon" on telegram. Also "the coin farm" is good as well. Happy trading and investing!
Hi Luc and anyone one else here who could help, I'm fairly new to the crypto market but your videos have been perfect to build up my confidence to trade. I want to enter the market at £300 as a starting point and go from there, what would be the best way to start off and which coin
maybe? Really would appreciate advice from
everyone. Keep up with the vids !! @quickfingersluc
I would also like to know which cryto pairs are the best and most reliable to trade using your method. especially the bitcoin pairs
I am looking out for opportunities to do some serious position trading via Luc's method but so far I can't find any. At first I listened to the general opinion to buy only when a price is 10% below the base, now I compromised that to 5% but nothing seems to dip that far below the base.
What penny stocks broker are you using ? platform ?
There is also a facebook group. facebook is much more organized that slack messy chat.
https://www.facebook.com/groups/1064955490307688/
I trade with Questrade and Virtual Brokers for Stocks, and I use EquityFeed for scanner/charting
Thanks for setting this channel up!
wasn't me... thank allyourbase. i just want to help bring eyes to it.
ahh got it! Well it worked! (to get me in there anyway :)
I will join if slack let me... forever loading :(
This is how I split my coins. May help if you dont have android.
I started with my BTC on an Electrum wallet.
I'd like to say a big Thanks for the knowledge that you share. It is so insightful and has made me money in a very reliable way. I really appreciate that you are back making videos :-))))))
@quickfingersluc -Can you please let me know how to handle those day trades ? I mean as soon as I get the alert i open the chart and I see the price is back to where it was before the drop or close to it so i can
t make that trade. It seems to happen in seconds which is too fast to catch that trade. What I should do in this instance ? Placing a buy order to where the drop was seems not to be a good ideea as from what I see the drop seems to happen once not multiple times. Please help me with this. What I should do to catch those drops ? Its very frustrating not to be able to make a few trades because thigs happens in seconds not minutes. Thanks once again for everything and i`m looking forward for your answerHi Luc,
Thanks for the Videos And comments... what i have noticed is Bitcoin or cryptocurrency is quite confusing to people mainly the initial set up for accounts How small can they start trading capital. what exchanges they should use. even me i would love to see a full set up as there seems to be no videos explaining this in full. i tryed 2 platforms and found that position trading is the way to go i also tryed the other i was on iq options and the buy and put spread would kill you as a day trader like 50-80 pips at one point it was 50 in and then later when i had made some proffit to exit i would loose 40 pips so a total of 90 pips what a joke.... so i was hoping you might make a startup video on how to get started and how to trade with low capital for those that want to try but dont want to risk much regards Will-i-am-7521
1 month back, I had no idea about Crypto trading. After watching Luc's videos, I have started trading a few days back. Before that, I opened my accounts on Bittrex, Bitfinex, Kraken and waited for them to get verfied, bought Bitcoins from an ATM, Local Bitcoins and waiting for my account to get verified on Coinmama to buy directly from my card. I started very small (16$ to be exact) and steadily gaining each day just by following Luc's advice. 16$ is not much, but I am waiting to buy 100$ worth on Coinmama. But even with 16$, I have made it into 36$ in just a few days. So, in my opinion, nothing is small, where there is a will there is a way. I have wacthed Luc's videos more than 10 times each. Sometimes, I just observe his computer screen to see what things he do which sometimes he forgets to tell ( little things like his screen size, his alarm sound etc) because he is trading for 10 years+. I know 16$ could just be a price of a burger in your city, but where I am located currently, average salary is 200$. So, it's a decent amount of money for many people. Luc is very busy with his personal tradings and there are something which we have to find it on our own. All the best with your tradings. Hope you see only green days ahead :)
I am always checking this blog. I keep doing it few times per an hour, I always check whether Luc has posted a new video :-) Or replied to a comment.. I can't stop myself :-D I am addicted :-)
I have ton of questions to ask and I am waiting till Luc posts his next video to ask all there :-)
I really don't have much to make a video about today. Everyone has been asking me to make some videos on Day Trading, (but I'm hesitant, because its dangerous, and new traders could lose money, vs position trading which is so simple) ... As far as the position trading goes, its well explained in my videos.. I dont want to make videos, just to make videos.. It has to be valuable content, so perhaps when I see the next big opportunity on the market, Ill make another video.
Oops.. Anyway I will not stop checking your blog over and over again.. I have some questions I'll post them here then :-)
I Luc, I would love more info on day trading as well. Even though it's a bit more dangerous, I feel that it's a great way to learn because you can get more trades on your shoulders and learn how the market works. At least that's how I see it after doing it for about two weeks. I Think people need to consider that it's a bit more risky so just put less money into it until you feel more comfortable. In my case, I've been making some money but I need more guidance, I feel most of the time I'm acting on gut feeling. So it would be great if you could make a video more in depth about it
but we miss you man!
@quickfingersluc While I agree that day trading is very dangerous, I feel that people will do it anyway, so it's best to inform them instead of letting them go their own way.
Tone Vays has his finger on the pulse of BitcoinCash
Bittrex has opened BCC deposits.
BCC DUMPING after every Block Mined!
it's the perfect storm.. everyone trying to sell, but unable to move there free coins... it's like a rat race to hit the sell button, only you have to wait many hours to move it to the exchanges.. Im ready to buy into big down spikes when they happen...
For most of your followers the question remains: how do we know when its profitable to buy on a downspike via daytrading on a chart like BCC which appears to be heading down down down down down? Your position trade method is very logical, but day trading with a coin such as BCC doesn't share the same obvious traits @quickfingerluc. Help?
Every situation is different, but trading is always the same, because you are dealing with humans.. SO daytrading is alot like the position trading that you are getting use to.. with bases and surprise panics, the only big differences is timing and risk.. Daytrading is risky (not safe like the position trading) Panics dont always bounce like they should, but the chart always tells you the story...
1st thing is your daytrading, so you have to be on a 5min candle chart.. then you have to read the chart so you know when panics are getting rediculous.. heres the current 5 min chart of BCC
can you see that every few hours we get a big sell off? thats when a block happens and finally some people have there BCC moved to bttrex.. then they dump the price and then it has a chance to settle for a few hours while we wait for the next block.. but the chart is showing this, even without knowing the back story... it tells you that there is way way more sellers than buyers, and they show up every few hours.. Notice the one 47% 5 minute drop ... it was so rediculous that it almost bounced back to the base.. thats a true panic... then every other smaller drop didnt make it back to there bases because there are way way too many sellers, this chart shows extreeme weakness... the next drop was 27% and the last drop was only 13% but i drew in Xs to show you where they didnt return to there 5 min bases..
So you can see how this is very unpredictable, and you could easily get stuck in a trade that leaves you bought in too high while the price slowly disappears on you.. You have to respect the risk.. you have to act fast.. You have to be willing to take a loss quick too if your wrong.. Its not an easy game..
Thats why I avoid trying to teach people how to daytrade, because so many will lose there money trying to time fast moving panics that dont bounce like they should...
Anyway, in regards BCC.. if there is a quick 5-10 minute drop of 30-50% or more I would be loading for a good bounce... so here at 273 i would consider buying around 160 and under, only if it happened in a fast drop, then if it paints a 2nd red bar to under 100, oh man i would get monkey long/buy big... and make huge percentages on the bounce..
I hate to say any of this on my blog, because its soo unsafe, and could get people hurt, and please remember I have been day trading for many many years, so I have an unfair advantage... (so if you feel nervous you are in too big, keep it small when your new)
If you start posting tutorials on daytrading like you have been on position trading, then It might be wise to add a disclaimer image at the start of the video which states something about how by daytrading a person will likely lose money if they don't know what they're doing. Then you can share whatever risky information knowing fully that every person who watches the video is responsible for their own decisions to take risks and you did your best to warn them.
I'm saying this to let you know that I'm one person (probably among others) who wants to get into daytrading cryptos but I'd like to do it right, and I trust your experience and value the information you put forward. I hope that when you post daytrading videos, you won't hold back.
I have noticed that the people who are attempting to daytrade in the Slack group (see above) are almost always (1) brand new traders (2) do not have the fundamentals of position trading down yet (3) haven't payed attention to Luc's content or might have poor comprehension skills. They tend to be here for the gamble, the thrill of the experience, but they are taking great risks without the firm logic to back it up. I know this won't be popular, but perhaps Luc would be best to not discuss his day trading philosophies until his community has caught up with the basics of position trading. Personally this suggestion hurts me because I have the fundamentals of position trading down pat, but I know that the needs of the community outweighs my own needs. With that said, we cannot stop someone from taking risks, it's their life and they have the power of choice - so maybe my suggestion to tone down the more risky day trading content is pointless. I see both sides of this coin so to speak.
@tizzle - thanks, i think you just helped me a lot. Position trading it is until i get the fundamentals down and then some.
People will always complain about losing money, but they can only blame themselves. I don't mind taking risks and even if I got wiped out I wouldn't complain. I like your in-depth chart analysis, it helps understand more chart types and how you can trade other coins in different ways.
As there is little historical data to technical trade, you have to think about fundementals.Keep an eye on spreads on different exchanges and mining hash power.The difficulty level dropping will also make it more profitable to mine.
As of a few hrs ago most exchanges were more or less at same price so price will stabalise more now.
BCC is here to stay, Roger Ver will make sure of that.
I would say daytrading BCC is as dangerous as it gets. It's freefalling and doesn't even touch previous tops. Luc's probably mainly trading it cuz it allows insane volume on a trade, and you can squeeze in 10-20% if you catch things perfectly.
Luc showed some of the trades we should buy, but I think daytrading is quite a science more complicated than the usual.
Edit: Never mind. Just read Luc's comment.
Thanks. Good info here. I just subscribed to their channel.
Right now XBT is skyrocketing. Looking at the ETH/BTC pair, it seems Ether is heading back towards it's base.
https://www.coinigy.com/s/i/598547f4b8fec/
But on ETH/USD, it hasn't even budged.
https://www.coinigy.com/s/i/59854849ecc5a/
Would you buy into the ETH/BTC if the base cracked, knowing it's stable against the USD?
YES YES YES and more YES. To illustrate, check the price of XBT at .0729130 at that time was roughly equivalent in USD to the price at ETH/USD. In fact at this moment you get almost $1 USD extra equity from trading ETH/XBT over ETH/USD. When trading currency pairs the proportions may look different visually due to the economies of scale.
I'm very happy that there are people like Luc who are willing to share their trading strategies in order to help strangers in need. It's amazing, thank you very much!
I know you have posted 3 good strategies that we can utilize with the scanner. However, I would like to ask for your opinion on what you think about trading simple support and resistance with stop loss?
Examples:
https://www.coinigy.com/s/i/5981ed31bae6a/
https://www.coinigy.com/s/i/5981edd29823d/
https://www.coinigy.com/s/i/5981ee2e26e43/
I think that's what Luc means when he says "trading in range". He mentioned a few times that he considers charts like these with high percentages good "account building charts".
How can you even stop loss except on Poloniex or making makeshift orders?
Thanks Luc! 🙌
Thanks for the awesome video's, Luc! One thing you have mentioned a few times but never gone over in detail is the Series 2 chart. What is a Series 2 telling us and how do you use it?
Series 2 seems to give detailed information about the candlesticks(open, high, low etc.) So you don't have to search for that on the chart. It lets you analyze each candlestick in detail, uou can check it out on Coinigy. I don't know how one would utilize this more advanced information though.
Thank you so much!! I always appreciate your consideration, letting us know your opinion on this as well as other advice. I'm trying to learn more about day trading too!!
Am I the only one accumulating at each broken base?
I know I'm probably in it for the long haul but hey, let's take a shot at it.
https://poloniex.com/press-releases/2017.08.03-Bitcoin-Cash-Update/ Poloniex on Bitcoin Cash
I pulled all funds from Poloniex yesterday morning, after they were having issues and the site was down weds.. I dont waste time getting the heck out at first signs of trouble with cypto exchanges..
Thanks Luc. This is good advice. Too bad Poloniex is my favorite.
Yeah lots of shady stuff going on over there. I told them to cancel my account.
Sounds sensible.
I raised a support ticket on Poloniex 57 days ago and I have still not had a response, which is clearly unacceptable. If you have a issue while using their exchange don't expect their help to resolve it.
Since the May/June boom in crypto they have really struggled, it appears to be a HR and miss management problem rather anything underhand going on, but in this unregulated world of crypto, you never know!
Thanks i was looking for this info.
Hi Luc,
I want to thank you for sharing your experiences and knowledge in both Steemit and Youtube, I am learning a lot thank you very much.
I need to ask you a favor, in steemit the person @andreaskrieger downloaded your previous channel your videos, he is willing to share them if you authorize it, is that possible?
There are some people with me who are eager to enjoy this information, please consider it and give us your authorization.
Thank you
I was given that entire library, so I now have all my old videos. I am planning to review them and then re-upload them on the my new channel.. Here's the thing, I ran into security issues with that old channel, so I need to review those videos carefully, to make sure I dont have any sensitive info on display... But after I go through them, i'll gladly re-upload them for everyone.
The other consideration, is that the subject is often about daytrading pennystocks which is not crypto, the theme of this blog.. but Ill still upload them with some sort of explaination that its not exactly on topic.
Look forward to this valueble content being rereleased.Thankyou very much for all your work mate!
Thanks for this Luc! I'd love to watch videos about trading penny stocks as well!
Thank you very much, we will be waiting, meanwhile we will continue to progress in learning with your videos
Regarding Coinbase.. if you kept your BTC on Coinbase/GDAX after all of their warnings to move to a private wallet, and all of the 100s of crypto articles warning you to take your coins off exchanges.... then you deserve to wait for 2018.
If Bitcoin Cash has a future, then all those people that have their BCC locked in Coinbase, will thank Coinbase for making sure they didn't panic sell it like the rest of us haha.
One small problem... most of those articles were also partially wrong. The people who did the best with BCC trades were those who left BTC on HitBIT and Bittrex. Everyone else is either fucked, or left with the scraps. I've learned that cold storage is for savings, while exchanges are for active trading - I am prepared to lose everything I am trading with at any given time. Those articles that tell EVERYONE to get their coins off exchanges weren't seeing the bigger picture, they should have included numerous caveats.
Very true. I wish i kept more on Bittrex.. that said, i dumped what i had on bittrex at like $350.. before it went up to $1200. But regardles.. i have no sympathy for people who left their coins on Coinbase.
hey Luc so I have been trading Bitcoin Cash non stop last couple days and all was well until the panic set in. I have been watching it and waiting to see when we could get in and it looks to me like there is heavy support around .150 - .153 . Would you suggest anything below that would be nice to buy? I bought 1 BCC at .091 just in case but wanted to hear when would you start buying in?
Hey guys, a question from a new trader here (I know my question isn't related to Luc's specific post here, but as it is the most recent, I decided I'd ask here.). As someone who is just starting out with a small account, how should I divide funds between exchanges? Should I put all my funds into a single exchange, build up and then spread out? Recommendations for an exchange with good day trading potential?
I have been following Luc for the past month, slowly watching all his videos and taking things in. Last week I was finally ready to start trading, so I bought some ETH on Coinbase - it was a great deal in comparison to buying BTC - and opened up accounts with a number of brokerages since it would take time to get verified. Now that I finally have my coins and am ready to move them into the exchange, I don't know where to start. I won't be able to jump on any daytrading opportunities in time if I wait to spot a trade before moving it to the exchange with that trade.
Thanks in advance for any help and comments from the many knowledge trades I've seen in the comments!
Start with Bittrex or HitBTC. Bittrex has around 200 altcoins to trade, and hitBTC has lower volume so you will probably be able to trade some ETH pairs. If you're new and you want to daytrade then you should probably trade with like 1% of your account. Look for coins paired with ETH that have high volatility and move in a range. I don't bother spreading between exchanges but then again i only have like 0.20btc. Just customize the scanner to one exchange and you are good to go.
I use Bittrex (very easy to start and so far very trustworthy). For now I too have a small account and trade exclusively on Bittrex. As you get more experience, trading on multiple exchanges is very beneficial but even on one exchange I have been making a killing all thanks to luc and his trading methods and the experience i get every day learning more and more about trading patterns in cryptoworld. I highly suggest starting out on Bittrex and get familiar with trading because you will make horrible trades once you start to make money. I realized you really do have to learn how to control your emotions to make the decisions for you.
I'm not sure from your post if you purchased coins from coinbase and paid the fee? Or if you used the GDAX?
If you PURCHASE COINS from Coinbase, they charge you a somewhat small fee.
But something kinda cool(in case others may not know), is that if you link a bank account with Coinbase, you can deposit hard cash directly to your wallet. Once you deposit the cash, you can then purchase whatever coin you want on the GDAX EXCHANGE directly with your cash, and avoid ALL/ANY fees!!!
Once you do that, you can transfer from your GDAX wallets to wallets on any other exchange you want to trade on (BitTrex for example).
NOTE: You automatically have A GDAX Account if you have a Coinbase account.
I transfered my BTC to Coinimi and tried the procedure but never received any BCC. In their FAQ's it states: -
----Any BTC sent to Coinomi after block 478558, the block which initiated the fork, are NOT liable for BCH claim.---
I wish had seen this before I attempted it, it's cost me.
oh, that's ok @profitsfinder. Your BCC is still on your old wallet's address, just on the new chain. Download Electrum Cash wallet and restore your keys using the 12 word restore code from your now empty BTC wallet. As long as you had BTC on it before the fork, the BCC will be there waiting.
Hello Luc, thanks as usual for the new content!
What exchanges do you use for trading cryptos? I currently have half of my assets in poloniex and bittrex (and a tiny bit on Kraken) and half out in my wallets, and I want to put mostly everything back for trading. I'm considering adding Etherdelta, although that wouldn't work with Coinigy. Any other suggestion?
He likes Bittrex, hitBTC and maybe Kraken, liqui and poloniex(but he pulled funds out of poloniex)
I like to live dangerously
My sell order missed by 2 satoshi as usual so I had to sell later. There was big FOMO and the rally so buying as risky, but I could have walked with 20% profit if i was a tiny bit more lucky.
That was a hard fall....so unlucky. Good think you caught that flash buy. Did you take a loss on this one?
I think loss would be minimal, the real problem was i mistyped a 0 in my sell order and lost like $20 cause of it. It wasn't a smart trade either way, I just bought cause of the endless rally expecting it to go to 150 or 200, my order almost went thru at 140.
Hi @quickfingersluc, I am under 18 and I was wondering if there are any cryptocurrency exchanges that have an option for a custodian account.
Hey Luc! Brand new to the blog here. First of all, thanks for all the videos and tips! It's easy to see there is huge opportunity here and I'm ready to start. The thing is I'm having trouble getting started. I currently have 1ETH in a coinbase wallet that i purchased a week ago, but I'm not sure of the best coins to trade in right now considering i have such a small amount of starting capital to trade with. Currently, is trading coins with coins the best way to go? Any advice would be appreciated! Thanks!
1 ETH is more than enough to start on Bittrex. You should find smaller coins with decent volumes to make profits and shift to the bigger coins. I am sure Luc has mentioned this more than once in many of his videos.
Thanks! I'll give it a go
Just watched a couple more videos. I see what you mean. Very informative for beginning traders like me
Such a fun day to trade! OMG/ETH is crazy! ETH/USD trading is moving quick. Lots of opportunities to make small profits on the chaos..
yeah
Being in profit is always a good thing. 12.4% is great. But, wait an hour or two and see what it might have been. Whoa!
It could also go reverse :) Btw, great trade. All the best finding such gems.
Hey guys, the slack group is nice. But slack chat is VERY MESSY!!!
I opened a facebook group for Luc traders...you can share whatever, and facebook is great at organizing replies and threads.
please join here
https://www.facebook.com/groups/1064955490307688/
Disagree. Slack chat is far superior over Facebook, it is designed for business teams, highly searchable and threaded with bots and even voice over IP abilities. Slack is my favorite team communication tool by far, I won't use Facebook Groups anymore.
Hi, @quickfingersluc I love your videos, was considering trading for some time and I always look for simple no bullshit strategies and ofc you got me amped up like crazy. :)
I know you're busy but if you find time for this one cos i went over all your videos and couldn't find info on this..
I have questions about those spikes trades… So I caught this one and I went on monthly chart to check if it happens before and it did.
https://www.screencast.com/t/UmYbTtITNg
So my problems: When I zoom last spike to 10min it’s like this.
https://www.screencast.com/t/JEYRRMLQmYN
Here is 5 min chart in case needed:
https://www.screencast.com/t/jfSNLXIWIIVC
My solution for this would be to go back to previous spikes in 10min frames to check how spikes reacts but coinigy doesn’t let me go back that far… As far as I can read from those charts in 60min frames it looks like we get 30% drop but no 50% ones. So are those trades interesting in risk award fashion?
Keep them coming and thank you once again!
Repeat of my comment on your last post :)
Hello! Thank you again @quickfingerluc ! In the video of 'Day trading vs Position trading', you mentioned that videos directed specifically at daytraders will be released, once the scanners are out. Well, fortunately, the scanners are out, so will we be getting the daytrading vids soon? :)
Hi Luc, I have a quick question about bases. The image below is yours that you used in another comment on this blog. The thing I'm a little confused about is with the blue arrow. Why didn't you consider it a base a base? Because it gave a pullback and a big bounce.
Hope you can answer it and keep up your great work! I'm in profit thanks to you!
http://imgur.com/a/gZTJ2
Yup, that can be considered a base for sure.. I missed it, because I take 2 seconds when I drew that chart up.. I just looked at the chart a drew a bunch of bases, but didnt notice that one .. Your totally right tho, it qualifies
So I'm getting confused...shall we use position trading to trade the minor bases too or do you not bother with it? I feel like there's a few % profit if we exit at bases, but often it goes 5% down 15% up.
Examples:
I feel like these minor bases break all the time, they seem pretty reliable but I dunno...If I use 2 or 3 months chart most of them will be almost invisible. is it worthwhile to do all these trades? It seems that the profit is minimal if we sell at the bases, but if we try to ride the profits that kinda goes outside of the strategy.
you are entering the realm of daytrading.. if you scale down to smaller charts like 2 weeks worth of data, then you have to scale down to 15min or 5 min candles, to get a clear picture of how reliable the small panics are.. But remember that the % of profit will be smaller, which means more risk.. Thats why I stick to 1hour candles and 1-2month charts, so that the set ups are very reliable and the % of profit are bigger.. But if your comfortable with more risk, than it is very doable to trade 5min charts on a very active coin.. you just have to be fast at taking small profits
Thank you luc
I am new too, but in my opinion, the base is depend on the rebounce, in this case is has a rebounce for sure, but when you zoom out, you wont consider thisis a base.the lower one,touched twice, and look at that huge bounce all the way up to the top,and this is one is absolute safe than the one near the blue arrow.I hope this can help you a bit
@quickfingersluc: I noticed that NBT/BTC took a huge panic dive yesterday as BTC was popping, seemed like a great opportunity to buy up at the bottom. But there was something VERY odd about this chart that I haven't seen before.
The data showed that there was one guy selling 15 BTC worth of NBT, he is clearly a NBT whale on the ask side because the total volume was only 100BTC or so. As he ran out of coins to sell, suddenly someone appeared on the bid side requesting the same amount of coin for the same price. As the day wore on, this whale (we can only assume its the same same person or team) went back and forth across both the ask and bid sides of the data.... the question is WHY? This doesn't make sense to me, do you have any insight? Its as if he is holding the price down intentionally, I cannot figure it out.
https://www.coinigy.com/s/i/59873a330033c/
This article may explain what happening. https://cointelegraph.com/news/single-trader-with-enormous-bankroll-is-manipulating-bitcoin-price-but-to-what-end
Level 2 is always hard to figure out, unless you have context.. So in this example, there is a big seller, and he keeps flipping back and forth from bid to ask.. Is he trying to manipulate the price buy scaring sellers or buyers by flashing big orders? Does he actually have a ton to sell and he only adds to the bid now and again to try to get the price to turn back up so that he can sell into it? Its very hard to figure out off level 2..
So I only use level 2 in a context situation. ... An example of a context situation is: there is a quick sell off, the price drops big and then some huge bids appear, then i am ready to start buying in with them.. the context is the huge drop and then buyers are starting to support the price..
Another example of context is where again the price drops huge and then there is still a big seller sitting on the ask, only he is alone and then buys start gobbling him up.. the context is that the one seller dropped the market, he had a huge order to sell and hes almost out of coins, so I eat what he has left and once hes gone, there is no longer a motivated seller present so the coin should rally.. In these type of instances, where you have clear context, then level 2 is useful.. Otherwise its a guessing game trying to make sense of people motives on level 2
outstanding answer, thank you!
damn you have good questions @tizzle ..i keep searching them
Same chart data, 3 hours later. Look at the whales now.... price has been adjusted downward, not upward. VERY ODD. What is going on here?
hey Luc, I need help with this trade. Did I mess up? EOS/BTC on HITbtc. I bought at 59 and 56 thinking it would retest support at 61, but it fell short. I am wondering if maybe the larger green candle a few days back was the real support. Do I sell or hold? I am 7k into this trade LOL. Also, any news on when the market scanner will allow us to change the time frame?
thank you! https://www.coinigy.com/s/i/5987429b68c74/
I cut my losses and sold, I think I misread that base. I'm still looking forward to the new scanner that can sense position trades though!
Not Luc. This is not a base, at least not a major one. The base was lower where u can see the price bounced to. There was no big bounce or drop off this one. You should try selling off significant bounces.
Hello everyone,
I am new to all of this and have watched Luc's videos. WOW! what great information. I made a trade and sold half at an 8.4% profit, then later sold the other half for a 16.5% profit. :)))))
https://www.coinigy.com/s/i/59870deb83c4d/
Can anyone tell me how I can tell what I actually made, BTC or USD??? Is there any kind of calculator available that I can use to compute the profit/loss of trades?
Confused!
TIA for any help anyone can give.
you receive BTC and you can change it in BTC/ USD btw BTC is increasing means more dollars xD hope this will help you
Ik dont no if the methode stil works, al alt coins are only going down, down, down and no bounce up OR little ones. Had siacoin and etc buth only lossing on them becouse the only going down.... When Bitcoin crash alts go down when Bitcoin gose up alts go down, dosnt make any sense...
calm down, on sunday,coins drop is normal (lack of thickness of arguement)
H Luc, thanks a lot for you're interesting videos !
Could you tell us here or in a video, if you're using simple sell limit orders or sell stop limit orders. If you're using the latter, could you give us an example of where you put the stop and where you put the limit order ?
only limit orders... nothing else.. no stops, no market orders.. just limit orders is all I need to make my trades..
Hey Luc, Thank you for your videos, I am learning alot about cryptotrading.
How do you do your trades? Do you stick to the pair or do you switch between coins?
For example if you buy Ethereum with bitcoin do you then sell it back to bitcoin at a profit or will you trade it to something else (like USD)?
I have noticed on some of the coins that I have in my portfolio that I bought with bitcoin that the value of bitcoin keeps going down but up against USD so it made me think that perhaps I could sell the coin to USD instead of waiting for the price of bitcoin to go up higher than I bought to make a profit.
The problem is to know by doing this how do I know selling it this way its at a profit?
So I was wondering if you do this and if yes do you have some sort of strategy in place that ensures you are getting a profit?
For me, this comes with experience and you have to actually get out there and do trades yourself. You are on the right track tho that observing the price or demand shifts and how each coin or USD gets affected. Studying the coin's chart and history will help you buy and sell at the right moments. Right now, I have sold some of my BTC for USD at $3400/coin since btc has risen so fast, but more importantly chart history says btc will likely fall hard again. I could then use the USD to buy coins lower, and now I'll have more coins.
Even though this answer isn't from Luc, I hope this helps.....I want to contribute from time to time since Luc has helped me on my crypto trading ventures.
Thank you luc, you gave me a chance to feed myself, to survive on my own,Thank you.
Hi Great Luc!!!
I marked a base for XVG and guess what proving you are always correct it cracked the base today and bounced back.
I wasn't aware of this because I almost forgot to check and I marked that base on 2nd August at 11.25P.M GMT+5.30
It did bounce back but I have a doubt, Did I identify the base correctly? I don't take the very bottom of the dip I take sightly up before that where the price touched 2 or more times.
I also check for the same base in the past to see how many bumps it had.
Yellow is the base I drew and red is the lowest price of that dip.
Since now it bounced back up which point I should consider as the new base ?
White line (0.000000090) or Light blue line (0.00000093) ?
https://www.coinigy.com/s/i/5989fd5834334/
https://www.coinigy.com/s/i/5989fd8eaf75d/
Thank you Luc :-)
@quickfingersluc Any comments on this one?? Anyone???
Please anyone?
Hey Luc, just wanted to share a successful trade I made using your method. I set an alert for when price cracked the base and waited until I got alert. Bought in the morning and set a sell limit right away. First one for me!
While the method works most of the times, it can fail from time to time; so, good that you made profit, but buying something that fell 4% and using Luc's method is quite risky. Before you buy you want to see a big drop, especially for smaller coins! Things can drop 50% or more, so if you buy after a 5% drop (with a 5% expected return), you'll get into trouble when one such trade fails, burning the profit of tens of such trades!
Hey Luc, have you ever had problems with the coinigy interface (failed to cancel, failed to buy etc)? All my trades were geared to profits but when I can't cancel a trade or buy during a dump it just pointless. I hate it when the only reason I lose is because of the interface.
Yeah, that happens.. thats why its good to be signed into the exchange as well , during any big trades, so that you can manually enter your trades on there platform if Coinigy lets you down.
Is this a valid base. I feel the support and resistance that make up the arguement could have to small of a spread to be profitable.
https://www.coinigy.com/s/i/598ae239770a1/
HI Luc, if you get a chance, can you comment on this. Is my line a base line. I used because there are three bases. Now the time scale is 15 min not 1 hour and some are suggesting the base is far lower. Just wondering your thoughts.
https://www.coinigy.com/s/i/598b327753a65/