Thanks Tom for your hard work. I hope your forum grows and is another avenue to help new traders. Ill try to visit regular, to answer some questions and chit chat
This is a FANTASTIC post! I'm kind of ashamed to say it, but I made that mistake in a lot of my alt trades earlier this month. The ones where I didn't layer in and layer out, I'm still sitting with. I expect they will come back, even though it will take a while - I'm patient. ;) But, the ones that I did layer in and out (just like you described) were successful and profitable trades. Your video just crystallized this for me in my mind. Thank you for sharing your wealth of knowledge! You are a God send!
Hi Luc, this is the ADX back in "real time".
How do you decide to exit the bounce (participate)? Is it the last red bar that shows you the resistance or?
Participate in every bounce, not exit... Only participate.. You cannot predict the future so if you see that many alts are being dropped all at the same time because something like BTC is soaring, then you may want to exit for smaller profits, but you must atleast participate in the bounces.. that means you layer some sells at or just above your break even price.. take some profit.. work your position, so that if does drop suddenly again you are in a better position to average down more..
yes, you work the position.. no one can predict whats going to happen, so you make sure that you atleast participate in every bounce.. and read the signs.. if it pops into profit fast, then you sell fast.. if it grinds up slow, then you sell slow, little by little.. theres also volume to consider, but thats more detail than necessary to explain (less important)
Yeah, its true, there are alot of losers in trading :( Very unfortunate, and I only buy a coin when someone is giving it away at unreasonable prices. But thats trading, I feel bad for whoever sold it to me, but they did and I was there.
There's gonna be people who lose money in the market, typically people new to trading or even more experienced traders who use methods with not a great success rate... ie using technical analysis and then the market moves the other way.
One of your all-time great posts, Luc. The "hope it goes down more" mentality, and "participate in every bounce" ... pure gold. Thanks so much for sticking with us.
I think he practically nailed it with the mentality thing here... With this I guess, no more panics when price falls. Now I can get my glass of juice and celebrate. I'm a MILLIONAIRE!!!
Hi Luc, thank you very much for going over ADX. I was one of the traders who didn't follow the system correctly and got caught up in that one. I've been great at layering in but up til now, I've been very lax in both layering back out and participating in every bounce. Just lazily setting the entire sell right below the base and calling it a day. That usually works but it bit me with ADX. When it went south, I shamefully panicked and got out with a small loss. The thing about your method is it is deceptively easy but once you dig in, it's fractally complex. Laziness is the culprit on my end though. I figured, yeah yeah layering out whatever. The more I follow this way though, the more I realize everything Luc has demonstrated is necessary to keep those probabilities high. So, thanks Luc and carry on! I love and upvote every video.
Thanks for another great video Luc, like others this really helped crystallize it for me.
I have a question about down time. The cryptos are open 24/7, how do you deal with this, when for example it was a slow day, your about to shut everything down (or not, do you shut off your computer?) and all of a sudden things pick up, you were just about to go to bed? Or even better you got into a coin, expecting a bounce and it didnt happen as fast as you thought it would and it is way past bed time? This last one has kicked my but several times, just missing the sell with my stop.
My main motivation for this question is that my wife is not digging my new choice of career direction. Mostly because of all the interruptions at odd hours and it would certainly be easier if I had an external office, but then I would feel like I am missing out on some really great deals on the flip side? I suspect as a new trader I may be a little over enthusiastic, but in part I think this is part of the territory. I would appreciate some in-put from you and others that have found some systems that function better than mine. Thanks.
I use my phone alot.. I just have coinigy set up to email me when a trade goes off and then I run to the office to set up additional buys or sells as needed.. and for the major coins I always have alarms set up with apps on my phone, so yes, if there is a big move happening anytime, then I might be up middle of the night to buy something.. China's day is my night, so its just what it is..
Otherwise, yeah I work mon to frid 9-430
Thanks Luc,
Would you mind sharing what apps you are using, or do you mean sms notification on Coinigy. I have noticed that the emails on my phone are not able to update sooner that 15 minutes. Also do you ever do trades on you phone when you are out and about, and if not is it for security reasons, or separation of work and play reasons?
I use Bitcoin Ticker Widget the most, because it not only gives alerts but it has charts.. I also like Crypto Prices All-in-One... those are my favorite apps..
Hey Luc, great video as always and thank for such amazing insight.
For the current state of BTC, the last clear base appears to be at 3500, which is obviously now quite far away from the 5700 its sitting at. When it starts to panic what are you working off of? Are you waiting for a nice panic and then strong reaction to identify a new base before buying? Who knows when or if we ever crack that 3500 base.......
Really been enjoying your vids, as everyone else has here. You make a lot of sense, and kudos for helping all of us make some money on the CryptoMarkets.
As a newbie, I am trying to find the best exchange to use in order to make trades quickly and securely. I was looking at Krakken (sp?) but read some posts on reddit that they are not the best for day trading — trades happen slow sometimes, and other times not at all.
Which exchange do you recommend to get started trading with? Obviously it takes some time/effort to get verified on these exchanges, and I'd like to go with the best first, instead of wasting time and/or $$ trying to find out for myself.
Yeah, Im really having a hard time with Kraken lately.. there are times when I cannot submit an order for hours.. it really not a great place to be trading.. I would say most of my trades have been on Bittrex or HitBTC
Thanks for your different style of trading, looks promising.
But what if the chart keeps going down, like ETC since september. Would you be keep on buying and buying? At a point you will be feeling sorry you bought in, and want to get out...
Edit: Never mind, I found an answer in one of your fine video's. Thanks for you sharing this awesome technique.
Oh ok good.. I know there are always alot of questions until new traders watch all the videos.. but feel free to ask some questions in the slack also.. you will get answers quicker then here sometimes..
Participate on every bounce! This is the key rule i've been missing. Thank you Luc great video. I know you are extremely busy but i think a list of the rules you must follow for QFL method would be extremely helpful to new traders.
Excellent video as always Luc and thanks for mentioning the forum. It's growing slowly but surely, hopefully more will participate and it will grow.
Upvoted as always!
Thanks Tom for your hard work. I hope your forum grows and is another avenue to help new traders. Ill try to visit regular, to answer some questions and chit chat
The forum rocks Tom!!!!! I am learning a ton :) SUNSHINE247
This is a FANTASTIC post! I'm kind of ashamed to say it, but I made that mistake in a lot of my alt trades earlier this month. The ones where I didn't layer in and layer out, I'm still sitting with. I expect they will come back, even though it will take a while - I'm patient. ;) But, the ones that I did layer in and out (just like you described) were successful and profitable trades. Your video just crystallized this for me in my mind. Thank you for sharing your wealth of knowledge! You are a God send!
Hi Luc, this is the ADX back in "real time".
How do you decide to exit the bounce (participate)? Is it the last red bar that shows you the resistance or?
Participate in every bounce, not exit... Only participate.. You cannot predict the future so if you see that many alts are being dropped all at the same time because something like BTC is soaring, then you may want to exit for smaller profits, but you must atleast participate in the bounces.. that means you layer some sells at or just above your break even price.. take some profit.. work your position, so that if does drop suddenly again you are in a better position to average down more..
yes, you work the position.. no one can predict whats going to happen, so you make sure that you atleast participate in every bounce.. and read the signs.. if it pops into profit fast, then you sell fast.. if it grinds up slow, then you sell slow, little by little.. theres also volume to consider, but thats more detail than necessary to explain (less important)
Yes, wondering about that as well.
Just wondering what software or exchange are you trading with there? (noob here)
Some daytrades
first time taking profits on BTC
thanks @nbiroz beautiful trading.. posting you trades will encourage the new traders..
Nice trading! But how did you catch that EBET trade?
Congratulations @quickfingersluc! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPFor every winner there is a loser, more or less. Are these losers not traders Too?
Yeah, its true, there are alot of losers in trading :( Very unfortunate, and I only buy a coin when someone is giving it away at unreasonable prices. But thats trading, I feel bad for whoever sold it to me, but they did and I was there.
There's gonna be people who lose money in the market, typically people new to trading or even more experienced traders who use methods with not a great success rate... ie using technical analysis and then the market moves the other way.
I'm always getting that feeling that this is getting ridiculous. Thanks for the simple refresher.
Excellent video and trade method, I've been doing something similar and had bad and good trades but in average good, thanks for sharing
Hey @quickfingersluc would I be able to get an invite to your slack channel? Thanks
the invite is few blog post back
there you are https://steemit.com/trading/@quickfingersluc/would-you-like-to-join-the-quickfingerstraders-slack-channel-here-is-the-invite
Thanks Luc for another insightful video. Cheers from the Netherlands :)
One of your all-time great posts, Luc. The "hope it goes down more" mentality, and "participate in every bounce" ... pure gold. Thanks so much for sticking with us.
I think he practically nailed it with the mentality thing here... With this I guess, no more panics when price falls. Now I can get my glass of juice and celebrate. I'm a MILLIONAIRE!!!
Best video!
I get it NOW. Layer in on panics and layer out on bounces. Can't believe I missed the layering out part. Thanks Luc.
Hi Luc, thank you very much for going over ADX. I was one of the traders who didn't follow the system correctly and got caught up in that one. I've been great at layering in but up til now, I've been very lax in both layering back out and participating in every bounce. Just lazily setting the entire sell right below the base and calling it a day. That usually works but it bit me with ADX. When it went south, I shamefully panicked and got out with a small loss. The thing about your method is it is deceptively easy but once you dig in, it's fractally complex. Laziness is the culprit on my end though. I figured, yeah yeah layering out whatever. The more I follow this way though, the more I realize everything Luc has demonstrated is necessary to keep those probabilities high. So, thanks Luc and carry on! I love and upvote every video.
Great video, thanks a lot. The nuances of your strategy are finally starting to come together in my head :)
Thanks Luc, very timely video. I needed this
Thanks for another great video Luc, like others this really helped crystallize it for me.
I have a question about down time. The cryptos are open 24/7, how do you deal with this, when for example it was a slow day, your about to shut everything down (or not, do you shut off your computer?) and all of a sudden things pick up, you were just about to go to bed? Or even better you got into a coin, expecting a bounce and it didnt happen as fast as you thought it would and it is way past bed time? This last one has kicked my but several times, just missing the sell with my stop.
My main motivation for this question is that my wife is not digging my new choice of career direction. Mostly because of all the interruptions at odd hours and it would certainly be easier if I had an external office, but then I would feel like I am missing out on some really great deals on the flip side? I suspect as a new trader I may be a little over enthusiastic, but in part I think this is part of the territory. I would appreciate some in-put from you and others that have found some systems that function better than mine. Thanks.
I use my phone alot.. I just have coinigy set up to email me when a trade goes off and then I run to the office to set up additional buys or sells as needed.. and for the major coins I always have alarms set up with apps on my phone, so yes, if there is a big move happening anytime, then I might be up middle of the night to buy something.. China's day is my night, so its just what it is..
Otherwise, yeah I work mon to frid 9-430
Thanks Luc,
Would you mind sharing what apps you are using, or do you mean sms notification on Coinigy. I have noticed that the emails on my phone are not able to update sooner that 15 minutes. Also do you ever do trades on you phone when you are out and about, and if not is it for security reasons, or separation of work and play reasons?
I use Bitcoin Ticker Widget the most, because it not only gives alerts but it has charts.. I also like Crypto Prices All-in-One... those are my favorite apps..
By participating in a bounce (with limit sells I set up last night that were executed while I slept) I was able to layer out with a 1% and 4.5% gain.
I look forward to participating in EVERY BOUNCE going forward.
Thanks @quickfingersluc
Hey Luc, great video as always and thank for such amazing insight.
For the current state of BTC, the last clear base appears to be at 3500, which is obviously now quite far away from the 5700 its sitting at. When it starts to panic what are you working off of? Are you waiting for a nice panic and then strong reaction to identify a new base before buying? Who knows when or if we ever crack that 3500 base.......
Hey Luc,
Really been enjoying your vids, as everyone else has here. You make a lot of sense, and kudos for helping all of us make some money on the CryptoMarkets.
As a newbie, I am trying to find the best exchange to use in order to make trades quickly and securely. I was looking at Krakken (sp?) but read some posts on reddit that they are not the best for day trading — trades happen slow sometimes, and other times not at all.
Which exchange do you recommend to get started trading with? Obviously it takes some time/effort to get verified on these exchanges, and I'd like to go with the best first, instead of wasting time and/or $$ trying to find out for myself.
Thanks,
JW
Yeah, Im really having a hard time with Kraken lately.. there are times when I cannot submit an order for hours.. it really not a great place to be trading.. I would say most of my trades have been on Bittrex or HitBTC
Thanks for your different style of trading, looks promising.
But what if the chart keeps going down, like ETC since september. Would you be keep on buying and buying? At a point you will be feeling sorry you bought in, and want to get out...
Edit: Never mind, I found an answer in one of your fine video's. Thanks for you sharing this awesome technique.
Oh ok good.. I know there are always alot of questions until new traders watch all the videos.. but feel free to ask some questions in the slack also.. you will get answers quicker then here sometimes..
Participate on every bounce! This is the key rule i've been missing. Thank you Luc great video. I know you are extremely busy but i think a list of the rules you must follow for QFL method would be extremely helpful to new traders.