Thanks @quickfingersluc , What do you think of the idea of starting a slack channel or discord (or other chat application) for your community so that we can discuss your tips and videos and help answer each others questions and faq's. This would help take some of the load of of you and all the questions you get.
Beautiful, I was logging on to ask the exact same question! I think it would be fun to be in a forum where we can discuss the different charts we are tracking as well.
I agree, a discord group for @quickfingersluc followers is a great idea. I'm involved in a few other discord groups on similar topics and they are very helpful.
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? :)
Luc's info and strategy is the best I've found so far. He's strategy is gold if you're new to this world. I cannot stop watching the videos and reading the blog. The community is also a great help. The scanner is amazing and quick with the updates. I'm catching a lot of the notifications. The extra information provided in this scanner is very helpful.
Big thank you to Luc, the programmers and the community.
Is there a way to maybe highlight the spread between the "Change To" and "Current Bid"? Have another column showing a green arrow or symbol if it's within 3% and a red arrow if it's greater than 3% (we can change the percent range based on preference). This will help in reacting faster to the drop knowing we haven't missed out and can put a bid in instead of having to check all the numbers to confirm. Thoughts?
I like the way your thinking.. The real opportunities are often when the ask is still at the low..Sometimes a seller will overwhelm the bid and drop the price quite low, but then the ask will still remain at the low, because he has not sold his entire lot, and he used a limit order.. In that case, you can quickly grab what he has left, directly on the ask... Im not really sure how to get the scanner to spot these situations, and they dont happen that often, but you need to react very fast when you see them, because there will be a ton of buyers behind you typing buy orders as fast as they can.
There was a very nice opportunity a couple days ago with a huge limit offer in XEL that I was alerted to with the other scanner - illustrates your point. I lifted some as the buys accelerated. Then exited on a push to 70s. Did you catch this one?
No I didn't catch it.. but there are so many that I miss. I try to just work a schedule, only watching the scanner for a 6 hour shift and then I try not to think about all the ones I missed.. My big money comes from the larger position type trades that I take, but it is certainly fun to catch those drops on quick day trades too ..
Thank you. I'm trying to better understand this. Are you saying when the ask is still at or near the 'change to' low? Instead of just the bid being at the low? I know you're super busy and I appreciate you taking the time to answer a question but could you give an example of what you mean exactly because I'm trying to picture what this scenario would look like as you describe it. Wouldn't there be asks in front of his limit order if the price drops?
Think off it as a box of apples.. say Ryan has 20 apples in his box and wants to sell them, and jack wants 2 apples at $4 (so she puts out a bid at 4.00)an apple and jill wants 3 apples at 3.75 (so he bids ) and peter want 3 apples at 3.65 (so he bids) and tom want 2 apples at 3.50 (s0 he bids)... But Ryan decided to sell his apples no lower than $2.00.. So he puts a limit order to sell them at 2.00 .. Well than Jack Jill Peter and Tom all get bid orders filled, but Ryan still has 10 Apples in his box, for sale at 2.00.. Ryan now sitting on the ask, and he is the low of the day.. He is asking $2.00 still for his apples.. but at $2.00 people are going to come in quick and buy up his ask
Luc, what's the best criteria if I just want to position trade higher volume coins with large dollar amounts ($5000-20000)? I want to find those big beautiful dips like on ETH, everyday. 10% drop over the past 4 hours? 15% over 2 hours? Thank you again..
Yes I would also be very interested in this. I have around $10-15,000 to trade with and wondering what type of positions to get in to maximize daily profit. This blog has been a massive incentive for me. Thank you Luc!
I think Luc said this few times "don't put all eggs in one basket". If it will not bounce-back you will lose a lot so you have to be really careful and be 99.99% sure that bounce back will happen. I think you should look at coins with higher volume and you should be fine.
yes, ETH seems to be the perfect chart, except that it doesn't dive enough! I just want a scanner that can identify these types of trades on higher volume coins. I have had some luck with coindera, and just setting alerts on coinigy, but a scanner would make a world of difference. Personally, id rather make 1-3 trades a week, make 2-5k and be "bored" than sitting in front of my computer all day scraping together tiny $50 dollar trades. That's just me though :)
I'm in the same situation, but I don't think there are many that have the consistency of ETH. I think that is part of the reason why he says that you could make real money position trading but you'll get board as hell. The daily action is in day trading. Paraphrasing from memory... pretty sure that was his message.
yes, but day trading honestly feels like small time gambling. You rush to click the coin, and out bid the other guy for some low volume coin that barely will net you $50-100 over a few hours because the book is too thin to use more than 1 BTC per trade. Im getting tired of it, but it fills in the time between the larger dips I guess
Would it make sense to build a position trading scanner?
One that tracks patterns, Identifies bases, how far the panic sell goes on average once the base is cracked, how far it typically bounces back after, and what the probability that the pattern will continue based on past results?
That would be awesome, but many have requested this type of scanner, and it seems too complicated to build.. it is possible, but it would have to adjust to many different looking charts, Im not sure how that could be coded.
I am a seasoned c# .net developer and have been thinking about how to do this since I started following your method.
I am willing to develop it for free if you can give some guidance? @quickfingersluc
Thanks for the reply luc! I figured it wasn't a novel idea. I have no idea how difficult it would be make that software - Maybe someone will take up that project one day, but until then I really appreciate you taking on the difficult task of teaching us how to do it manually! Teaching a man to fish and all of that!
This is what I am after also! Couldn't we just change the parameters of the current scanner to look for a 5-15% (adjustable) drop over 1-4 hours (adjustable) with a volume greater than 30 BTC (also should be adjustable)? It would be crude, but effective, right? Thanks again man. If I had it my way I would just make 1-3 large trades per week and live the good life :)
thank you for the scanner @dogphish for the scanner.
and thank you @quickfingersluc I watched one of your videos about 3 weeks ago it made so much sense! you triggered what is most likely a life changing event. I'm a pretty hard core gamer, music producer, and music teacher. I stop gaming for a long time until a few years ago when I started playing EvE online. it's awesome pvp space game with a player run economy. One of the aspects of the game you can get into is Day Trading. I was saying that it be so awesome to be able to make real money like I can in a video game. my wife started talking about bitcoin, and I have known about it for years. I stumbled across your video explaining day trading. low cost of entry.. and bam! So I have been studying 10 - 12 hours a day. I'm learning so much. I'm multiplying my actual trade accounts by 100 in my head so that I respect it. This helps a lot. So much information int he net I'm learning from some great masters! Thank for being awesome and sharing your knowladge!
Hey Luc, Just letting you know, someone created a slack chat channel based on your blog and there are about 25 people who have joined so far. Why not stop by sometime whenever you aren't busy?
Its not over till its over. Be patient. The market is filled with new money, when there is a dip, it may panic accordingly. It may not dip all the way down to the 1800s, but you should still be prepared.
I think this is a very basic question... but I really don't understand..
this was just captured.. so the price changed from 0.000337 to 0.000265.. but the current ask is at 0.00034.. so I can't buy at the current price.. It happens over and over.. why is it?
you can try to outbid the other guy, but you may have to sit there for two hours as you guys slowly drive up the bid price while waiting for a buyer, and then maybe you cant sell it for another few hours, and when you do, the profit is minimal. this is why I dont like low volume coins
Thanks @quickfingersluc for your great videos, could you please make a video explaining how you use the scanners?.
I am new, I have been trying and in the very moment I get the alert I jump into coinigy, I place my buy order (sometimes few cents higher than the one in the alert) but most of the times (95%) my orders don't get filled. I am sure I am doing something wrong and it will be great if you can make one of your great videos explaining that.
Thanks
there was a nice move on fair coin chart. i missed it 2 times and today being rewarded with a pinpoint sell. had not enough coins to enter below last base.. :)
I have the same problem. I see it dipping from let's say .0039 to .003, so I set an order at .0031, but it never get's filled. How do you deal with that?
Correct me if I'm wrong but wouldn't the new scanner help in this regard? If you see what the current bid is, would it be smart to bid slightly higher to make sure your order gets filled?
that would be one option but also don't blindly buy any dip and you still should read the chart. You have to be careful as it might drop dipper so read the chart.
Yea of course assuming the chart looks good to trade. So you think what I said will work to ensure getting orders filled when you know you're ready? Makes sense to me but I haven't been able to trade on the exchanges the scanner regularly scans yet so unsure until I do it.
I have a question about how orders are fulfilled. There was a dump on EOS/BTC at around 0.00056, but to be safe I put an order at 0.00059. At the time there was only 1 other order at 0.00063 But my order got fulfilled only after a while. So in this case, would the higher prices be fulfilled first? Or would matching the order at exactly the ask price (0.00056) get fulfilled first?
Hey Luc and others, I know the market is open nonstop but do you guys think there is an optimal time to be actively trading during the day? I've noticed that the market gets kind of crazy in the early morning (PDT) , winds up a little bit before lunch and settles until the evening,
What do you guys think? Is there an optimal time of day to trade cryptocurrencies?
Yeah I am in Vietnam at the moment and during the daytime only getting around 1 or 2 notifications on the scanner. I'm wondering if it would be better to try and focus more on the evenings..
Does anyone have any insight into the massive spike on this chart for CRB/BTC that I found on the new scanner a few mins ago? 49% spike that lasted seconds with the BTC pairing and a similar 42% spike in the ETH pairing.
I'm going to give this market scanner a go in a minute. As for the BCH fork, that has been incredibly underwhelming. I was expecting carnage, drama, romance and some extra money.
Oh well. Like Luc said, I'll give it a few more hours and if still quiet will buy back in and see what that scanner is capable of. Thanks @dogphish !
Holy shit. This scanner is perfect for me. Thanks for the option to filter out the markets and currency pairs I don't use, as well as all the other awesome features @dogphish! I will definitely support this project.
To Luc and anyone here wanting to claim their BCC:
I finally found a how to that works and is very simple to follow. His article wasn't on steemit so I posted a link to it myself. Don't forget to leave this man a thank you!
There is now a less technical way of doing.. with Coinomi.. they has an app that you can use to split your coins.. I split a few, and sent some BCC to bittrex, but now im waiting for confirmations, before I do any more.. there are youtube videos already on this if you want to use the app.. worked good for me so far..
I really love your vids and your methods.
But i am wondering now about something you said in one of your last videos "Level 2" (market depth) and i wonder if you wouldn't mind explaining about it here or in your next vids.
thanks a lot
Last but not least big thanks for @dogphish the Crypto Market Scanner .it looks Amazing!!
yeah, im watching it closely.. its around $200ish USDT right now, and its tempting to sell BCC and just collect free money, but who knows, maybe more miners will start supporting this alt coin and then we have a quick jump in price.. its very unpredictable
I sold a bit more on HitBTC between $300 and $350ish.. thank you free money... I still have lots in cold wallets, but this is a nice little bonus at these exchanges..
hi luc
I am new to crypto but just managed to get bitcoin purchased on craken and bittrex before fork so now have btc and bcc and looking to get into other long term as well as following your trading method (fantastic ) but you say above you store in cold wallets, can you tell me were and how to store in cold wallets for btc bcc mtl ark dash ltc etc as i am very worried about security ? And also you talked in recent video about letting us know when you where entering and exiting trade which would be awesome to follow and learn, so are you doing this and how do i see it ? ALL VERY MUCH APPRECIATED thanks memsc
sold my BCC at 0.4 BTC on Bittrex from Coinigy aaaaaaaaaaaaaaaaaand had no BTC in return ! did you all get your BTC in your account after selling your BCCs ?
Very lucky to get that price, currently selling at 201 on Kraken. Jumped up to over $300 for a bit on Bittrex, so interesting to see how vastly different the two exchanges are. Also fascinating to see this new coin trade under different symbols BCC and BCH at the same time depending on the exchange.
all exchanges will be trading BCC at different prices right now, because you cant easily move your BCC around, so that limits the arbitrage and makes every exchange an island
Wow! I just woke up to look at the price and it's up to $532. This is pretty crazy and I'm really tempted to cash out but, maybe it it'll keep rising...(any profit is good profit , right?).
I have a dumb question though. I'm looking at the BCC page on Bittrex and when I enter the price in the sell section, I entered max units from available BCC and the total comes out to 10% of what I had in Bitcoin. I thought it was 1 to 1... I don't want to make a trade and just give up 90% of a potential profit because of a glitch. Am I missing something?
Exactly why I decided I'm going to hold it like I do Bitcoin and see which one prevails in the future. Nevertheless Im having a lot of fun trading it as it is extremely volatile and over 50000 btc in volume
It seems that most of the altcoins have had their initial rise after the fork. Was there any way to know this? Now, it's hard to tell what to expect next. Is it wiser to wait for a while to see which way the wind is blowing or to just take up looking for bases and cracks from this new level? Oh, by the way, Luc, love the scanners and what you provide for us all.
Hi Luc,
Seran said,"Can you please make a video about setting up trades.
I'm having a hard time setting trades that never gets filled."
I am having the same trouble. Could you make a video explaining how you catch these trades? I'm new to coinigy and find this the most confusing aspect. Are you using limit or stop/limit to trade?
This might be so simple and obvious to you and others but I need help explaining how each one works and why you might use one over the other.
Love the content you are providing.
thanks, that helps. but still I wonder how Luc manages to buy those very low dips, since I seem to miss those, because there's no one filling the bid. If you see his charts he often buys at super low dips. How does he manage that? @krakan / @quickfingersluc
You must place buy orders when you suspect that a dip might occur. Set your alerts higher than you plan for your trades, then commit the the buy by layering in. If the dip doesn't occur then you cancel the buy order.
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?
Since no deposits are allowed for BCCH between exchanges, seems pump and dumps are happening. Managed to get in on one but too bad I'm only using Kraken. Anyone managed to get into Bittrex until 1400?
HitBTC is now allowing deposits, but its the only exchange I know of that you can try to move your BCC to.. And the blocks are taking forever, so im not sure how long it would take to even try to send your BCC .. Add to that, i cannot even find a wallet that will allow me to import private keys from my cold wallets to split my BTC ... So yeah, BCC is not doing so hot.. It looks like its climbing, but its in a bubble, because all the sellers are stuck out of the market, looking for way to move there BCC onto an exchange.
@quickfingersluc thank so much for responding! I really look forward to your daytrading videos as yesterday I made 100+USD just by catching pump and dumps with 300 USD (exact gain was 36% which is huge for me). I used to drive an uber/grab part time for extra income and I'd probably get half of that driving full time for a day where I come from.
Hi Luc I think I messed this trade up. I was a little bit too confident in this trade I guess. Went in with too much size for my taste (25% of portfolio) and now stuck holding.
Can you give me some advice how to first of all prevent this from happening again and what to do next? Appreciate your video's, learning a lot from them!
Alright so I played off the base with the blue arrow. I bought in quite low at the time and set my sell order for the base level (blue arrow line) but it never reached that level. I also missed the bounce and now I'm stuck holding. Do you think it's going to that base in the near future or do I need to suck up my loss and get out on the next bounce? (that seems to be right now)
Im sorry, I wouldnt have considered that blue arrow a base.. you are using a great chart, and the bases are defined by the bounce that happened off them.. so you look back at all those bounces and you will see what should be defined as a base.. your last yellow line was a base, but the other two are questionable.. atleast you wont lose much if you bail on the trade and try again ..
Man I can see it now. That blue arrow base bounce can't be considered an average bounce compared to the other base bounces. So it's not a base, why didn't I see this -_-
I took the L and going to try again. Thanks for your comment!
The base for where you bought seem to be at .0065 and if you based it on that you should have been looking for the bounce back to .0065 and it did. And if you based you purchased on that, you'd be able to get out, not sure I'd make that buy myself though. I would have waited until it dropped below the first based you marked around .0062 but I would also draw that base lower around . 0055 and wait for that to crack
Thanks for your comment. But the 0.065 looks like such a weak base though. Yes it would've worked but I don't see it as a base. First of all it didn't reach the blue arrow line and therefore I thought we just had to wait for the bounce to the blue arrow line (which never came). Oh and the reason I didn't play off that 0.062 base is because the blue arrow base seemed pretty clear (2x touching for example) and that was the last base so it looked safe...
Sorry for the double post Luc.
But I felt like you didn't notice my question on your last blog post.
So I am copying it here...
Hi great Luc!! :-D
This is not related to this video and I still couldn't watch this also. Sorry if you have already addressed these in the video.
How you buy right away when market scanner alerts? I still didn't start trading but I mimicked of doing it. But those movements are so fast that no matter how fast I try the prices bounce back up and I don't get to buy low. How you manage these things? This is regarding day trading actually.
Do you trade forex much? I also like to get into that and I wonder if you have any books or guides that you can suggest for me to read and find a good strategy. I have the basics but haven't traded yet.
Thanks a lot man. As i always say. You are a gem!!!
I miss 80% of the daytrades off these crypto scanners.. This market is so new that things spike down with all the thin bids and then rebound instantly.. it is frustrating.. but that what its like when you are day trading in a very safe way.. we are not robots, and we dont have all the info on one screen.. we have to press links and write orders and that takes 10-20seconds.. and thats a little slow for daytrading, so we will always miss a ton of opportunities..
I just got HitBTC --BCC/ETH .64s and sold .95s.. sweet trade and that was fast..
No I dont trade Forex to more.. only tried it for a few months, years back
wow, sorry to hear that.. So you are new to this blog I'm guessing?
Ok so you bought BBC at $773 x 5 coins = 3,865 and now they are trading in the $250 range x 5coins = 1,250.. therfore you are down $2,615 ouch :(
I cannot advise you on what to do to turn around this trade.. I can only say, please watch my videos and you will recover your losses in no time..
Heres how my BCC trading went: I had some BTC at various exchanges, So Yesterday I sold some $275s and then some $350s and later some $450s.. and then I was out...while I watched it climb all the way to over $1,000... So I by no means can predict the future, and really sold early, but it was a great profit.. then I waited to see price action I can trade (panic selling) ... So off HitBTC I bought BCC/ETH at .64 and sold.95 .. thats a near 50% profit in 15 mins
Again my entries are not perfect, but they are the safest trades that were availible... And that's the secret to trading : never lose money, only take the safest trades, so that you don't allow your capital to go down... I am a reaction trader, I let the market tell me where I should enter, and never base my trades off a gut feeling, or something everyone is telling me is going to be the next big thing. I just read charts and let the chart tell me where to get in.. and I usually get a 2month picture of the chart for big trades, but in the chart above, there is only today to see, so its a smaller trade, and a day trade, and those are 5 minute bars...
I've been watching your videos for the last month and am starting to get the hang of day trading - thank you.
After reading cryptosuf's last message I think I may have made a really foolish and novice error. I'm super confused and I hope you can shed some light on the situation!
I was using the Bittrex exchange on Coinigy and after the fork I watched BCC start to rise. I used my BTC to buy BCC and now they money has evaporated and there's no trading history on the BCC/BTC page in Coinigy and in the orders section it shows I place four BCC orders and two failed and two were cancelled. Now I have no BTC and a random very low amount of BCC. What has happened to my BTC?
Did I stuff up majorly? I thought they were two separate currencies? Or is something fishy going on? I've emailed Bittrex and Coinigy for help but haven't had a response yet.
Thats very strange.. I really don't know what could have happened there.. I hope Bittrex gets back to you about that, because you should have a balance of BTC if your orders got cancelled. Or you should have BCC if your orders got filled, but it should not just disappear. very strange
Did you went into your bittrex wallet account to check? It should be there.
Sometimes Coinigy doesnt update promptly . You'll have to refresh account, the button is at the bidding column of Type - Limit, There's two mini icons just right beside it. It's the 2nd one.
Nice, I made 3 solid trades on BCC at Bittrex. Should have been on Hitbtc though I only averaged 25%. I also sold BCC immediately, expecting a massive selloff, oh well! I may buy more when wallets open up and it bottoms out
Good advice. Wild swings yesterday and today. Got a little last night and sold for a small profit today. Waiting for the next entry point tonight. Seems like it may jump when the other side of the planet wakes up and starts trading. :)
Thanks @quickfingersluc , What do you think of the idea of starting a slack channel or discord (or other chat application) for your community so that we can discuss your tips and videos and help answer each others questions and faq's. This would help take some of the load of of you and all the questions you get.
I made a Slack
https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ
But I work 60 hours a week so I wont be around to admin it much haha
@quickfingersluc please weigh in on this.
Thanks! People are already joining the channel!
Thanks for doing this. It would be great to have a place to ask quick questions such as... is this a new base?
how he works bro
Beautiful, I was logging on to ask the exact same question! I think it would be fun to be in a forum where we can discuss the different charts we are tracking as well.
It would also be a good place to share which charts we're having the best/worst luck with using @quickfingersluc 's techniques.
Yes, start one up on Telegram
Now that will be interesting!
Thats a beautiful idea. Personally i would prefer Slack Chat.
I agree, a discord group for @quickfingersluc followers is a great idea. I'm involved in a few other discord groups on similar topics and they are very helpful.
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? :)
Great stuff. Will test it.
Luc's info and strategy is the best I've found so far. He's strategy is gold if you're new to this world. I cannot stop watching the videos and reading the blog. The community is also a great help. The scanner is amazing and quick with the updates. I'm catching a lot of the notifications. The extra information provided in this scanner is very helpful.
Big thank you to Luc, the programmers and the community.
I have a Bittrex scanner at twitter.com/cryptobeard if anyone wants a Twitter version. Adding more exchanges soon.
Is there a way to maybe highlight the spread between the "Change To" and "Current Bid"? Have another column showing a green arrow or symbol if it's within 3% and a red arrow if it's greater than 3% (we can change the percent range based on preference). This will help in reacting faster to the drop knowing we haven't missed out and can put a bid in instead of having to check all the numbers to confirm. Thoughts?
I like the way your thinking.. The real opportunities are often when the ask is still at the low..Sometimes a seller will overwhelm the bid and drop the price quite low, but then the ask will still remain at the low, because he has not sold his entire lot, and he used a limit order.. In that case, you can quickly grab what he has left, directly on the ask... Im not really sure how to get the scanner to spot these situations, and they dont happen that often, but you need to react very fast when you see them, because there will be a ton of buyers behind you typing buy orders as fast as they can.
There was a very nice opportunity a couple days ago with a huge limit offer in XEL that I was alerted to with the other scanner - illustrates your point. I lifted some as the buys accelerated. Then exited on a push to 70s. Did you catch this one?
No I didn't catch it.. but there are so many that I miss. I try to just work a schedule, only watching the scanner for a 6 hour shift and then I try not to think about all the ones I missed.. My big money comes from the larger position type trades that I take, but it is certainly fun to catch those drops on quick day trades too ..
Something I'll have to get used to. I've seen you set alerts for trades below your bases.
Do you ever set low-ball bids overnight? Not the nibbles, to get a feel...but a modest position (nothing crazy) far off from market?
It's something I've been considering, although I imagine I'll only be comfortable after a few months learning the personality of certain coins.
Thank you. I'm trying to better understand this. Are you saying when the ask is still at or near the 'change to' low? Instead of just the bid being at the low? I know you're super busy and I appreciate you taking the time to answer a question but could you give an example of what you mean exactly because I'm trying to picture what this scenario would look like as you describe it. Wouldn't there be asks in front of his limit order if the price drops?
Think off it as a box of apples.. say Ryan has 20 apples in his box and wants to sell them, and jack wants 2 apples at $4 (so she puts out a bid at 4.00)an apple and jill wants 3 apples at 3.75 (so he bids ) and peter want 3 apples at 3.65 (so he bids) and tom want 2 apples at 3.50 (s0 he bids)... But Ryan decided to sell his apples no lower than $2.00.. So he puts a limit order to sell them at 2.00 .. Well than Jack Jill Peter and Tom all get bid orders filled, but Ryan still has 10 Apples in his box, for sale at 2.00.. Ryan now sitting on the ask, and he is the low of the day.. He is asking $2.00 still for his apples.. but at $2.00 people are going to come in quick and buy up his ask
Thank you, Luc. That was a very clear explanation and I get it now.
As a beginning trader, this will be of tremendous value! Thanks @quickfingersluc and @dogphish!
Luc, what's the best criteria if I just want to position trade higher volume coins with large dollar amounts ($5000-20000)? I want to find those big beautiful dips like on ETH, everyday. 10% drop over the past 4 hours? 15% over 2 hours? Thank you again..
Yes I would also be very interested in this. I have around $10-15,000 to trade with and wondering what type of positions to get in to maximize daily profit. This blog has been a massive incentive for me. Thank you Luc!
I think Luc said this few times "don't put all eggs in one basket". If it will not bounce-back you will lose a lot so you have to be really careful and be 99.99% sure that bounce back will happen. I think you should look at coins with higher volume and you should be fine.
yes, ETH seems to be the perfect chart, except that it doesn't dive enough! I just want a scanner that can identify these types of trades on higher volume coins. I have had some luck with coindera, and just setting alerts on coinigy, but a scanner would make a world of difference. Personally, id rather make 1-3 trades a week, make 2-5k and be "bored" than sitting in front of my computer all day scraping together tiny $50 dollar trades. That's just me though :)
I'm in the same situation, but I don't think there are many that have the consistency of ETH. I think that is part of the reason why he says that you could make real money position trading but you'll get board as hell. The daily action is in day trading. Paraphrasing from memory... pretty sure that was his message.
yes, but day trading honestly feels like small time gambling. You rush to click the coin, and out bid the other guy for some low volume coin that barely will net you $50-100 over a few hours because the book is too thin to use more than 1 BTC per trade. Im getting tired of it, but it fills in the time between the larger dips I guess
Got Alerts?!?!?! ;)
http://imgur.com/VbxP3lH
thats how i do it too
Would it make sense to build a position trading scanner?
One that tracks patterns, Identifies bases, how far the panic sell goes on average once the base is cracked, how far it typically bounces back after, and what the probability that the pattern will continue based on past results?
Is there a flaw with this sort of thinking?
That would be awesome, but many have requested this type of scanner, and it seems too complicated to build.. it is possible, but it would have to adjust to many different looking charts, Im not sure how that could be coded.
I am a seasoned c# .net developer and have been thinking about how to do this since I started following your method.
I am willing to develop it for free if you can give some guidance? @quickfingersluc
Thanks for the reply luc! I figured it wasn't a novel idea. I have no idea how difficult it would be make that software - Maybe someone will take up that project one day, but until then I really appreciate you taking on the difficult task of teaching us how to do it manually! Teaching a man to fish and all of that!
This is what I am after also! Couldn't we just change the parameters of the current scanner to look for a 5-15% (adjustable) drop over 1-4 hours (adjustable) with a volume greater than 30 BTC (also should be adjustable)? It would be crude, but effective, right? Thanks again man. If I had it my way I would just make 1-3 large trades per week and live the good life :)
thank you for the scanner @dogphish for the scanner.
and thank you @quickfingersluc I watched one of your videos about 3 weeks ago it made so much sense! you triggered what is most likely a life changing event. I'm a pretty hard core gamer, music producer, and music teacher. I stop gaming for a long time until a few years ago when I started playing EvE online. it's awesome pvp space game with a player run economy. One of the aspects of the game you can get into is Day Trading. I was saying that it be so awesome to be able to make real money like I can in a video game. my wife started talking about bitcoin, and I have known about it for years. I stumbled across your video explaining day trading. low cost of entry.. and bam! So I have been studying 10 - 12 hours a day. I'm learning so much. I'm multiplying my actual trade accounts by 100 in my head so that I respect it. This helps a lot. So much information int he net I'm learning from some great masters! Thank for being awesome and sharing your knowladge!
No problem, thanks for sharing your story.. I love trading, I couldnt imagine a better job.. Easy and Fun..
Hey Luc, Just letting you know, someone created a slack chat channel based on your blog and there are about 25 people who have joined so far. Why not stop by sometime whenever you aren't busy?
Here's the link: https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ
Luc, what are your thoughts on BTC following yesterday?
The plunge didn't happen :-)
Its not over till its over. Be patient. The market is filled with new money, when there is a dip, it may panic accordingly. It may not dip all the way down to the 1800s, but you should still be prepared.
Excellent, I am learning a new lesson :-)
I think this is a very basic question... but I really don't understand..
this was just captured.. so the price changed from 0.000337 to 0.000265.. but the current ask is at 0.00034.. so I can't buy at the current price.. It happens over and over.. why is it?
Can you see BID price? You don't have to buy from someone who is selling at 0.00034
you can try to outbid the other guy, but you may have to sit there for two hours as you guys slowly drive up the bid price while waiting for a buyer, and then maybe you cant sell it for another few hours, and when you do, the profit is minimal. this is why I dont like low volume coins
does this happens even with a small amount?
Thanks @quickfingersluc for your great videos, could you please make a video explaining how you use the scanners?.
I am new, I have been trying and in the very moment I get the alert I jump into coinigy, I place my buy order (sometimes few cents higher than the one in the alert) but most of the times (95%) my orders don't get filled. I am sure I am doing something wrong and it will be great if you can make one of your great videos explaining that.
Thanks
there was a nice move on fair coin chart. i missed it 2 times and today being rewarded with a pinpoint sell. had not enough coins to enter below last base.. :)
gah.. i didnt notice that yesterday either, with all that BCC stuff going on
Hi @quickfingersluc
Can you please make a video about setting up trades.
I'm having a hard time setting trades that never gets filled.
I have the same problem. I see it dipping from let's say .0039 to .003, so I set an order at .0031, but it never get's filled. How do you deal with that?
Correct me if I'm wrong but wouldn't the new scanner help in this regard? If you see what the current bid is, would it be smart to bid slightly higher to make sure your order gets filled?
that would be one option but also don't blindly buy any dip and you still should read the chart. You have to be careful as it might drop dipper so read the chart.
Yea of course assuming the chart looks good to trade. So you think what I said will work to ensure getting orders filled when you know you're ready? Makes sense to me but I haven't been able to trade on the exchanges the scanner regularly scans yet so unsure until I do it.
Great materials, you have inspired me a lot can't wait to get slack invitation URL
I have a question about how orders are fulfilled. There was a dump on EOS/BTC at around 0.00056, but to be safe I put an order at 0.00059. At the time there was only 1 other order at 0.00063 But my order got fulfilled only after a while. So in this case, would the higher prices be fulfilled first? Or would matching the order at exactly the ask price (0.00056) get fulfilled first?
Hey Luc and others, I know the market is open nonstop but do you guys think there is an optimal time to be actively trading during the day? I've noticed that the market gets kind of crazy in the early morning (PDT) , winds up a little bit before lunch and settles until the evening,
What do you guys think? Is there an optimal time of day to trade cryptocurrencies?
Yeah I am in Vietnam at the moment and during the daytime only getting around 1 or 2 notifications on the scanner. I'm wondering if it would be better to try and focus more on the evenings..
Does anyone have any insight into the massive spike on this chart for CRB/BTC that I found on the new scanner a few mins ago? 49% spike that lasted seconds with the BTC pairing and a similar 42% spike in the ETH pairing.
BTC pairing: https://www.coinigy.com/s/i/59849c62bb235/
Ether pairing: https://www.coinigy.com/s/i/59849d2a535e7/
Good work @dogphish
I'm going to give this market scanner a go in a minute. As for the BCH fork, that has been incredibly underwhelming. I was expecting carnage, drama, romance and some extra money.
Oh well. Like Luc said, I'll give it a few more hours and if still quiet will buy back in and see what that scanner is capable of. Thanks @dogphish !
buy some altcoins!
It was underwhelming for sure but it got me out of a couple bad trades that I had trying to be greedy so i'm happy about what happened.
But all the alt coins jumped up, no extra money on that front?
Holy shit. This scanner is perfect for me. Thanks for the option to filter out the markets and currency pairs I don't use, as well as all the other awesome features @dogphish! I will definitely support this project.
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STOPTo Luc and anyone here wanting to claim their BCC:
I finally found a how to that works and is very simple to follow. His article wasn't on steemit so I posted a link to it myself. Don't forget to leave this man a thank you!
https://steemit.com/bitcoin/@iijokerzace/how-to-finally-claim-with-a-private-key-seed
There is now a less technical way of doing.. with Coinomi.. they has an app that you can use to split your coins.. I split a few, and sent some BCC to bittrex, but now im waiting for confirmations, before I do any more.. there are youtube videos already on this if you want to use the app.. worked good for me so far..
That is much simpler for my friends that simply own bitcoin that would love this. thanks Luc for the tip! I'm going to check it out asap.
Beep beep. Hi @quickfingersluc! I am @tipU - a service designed to make sending tips super easy.
I also share my profits with the users ;) Click here if you wish to learn more!
Hi @quickfingersluc
I really love your vids and your methods.
But i am wondering now about something you said in one of your last videos "Level 2" (market depth) and i wonder if you wouldn't mind explaining about it here or in your next vids.
thanks a lot
Last but not least big thanks for @dogphish the Crypto Market Scanner .it looks Amazing!!
Woah this is awesome! Thanks for this amazing tool!
So excited! These programmers are awesome!
this will be of tremendous value! Thanks now i am following you :)
Thanks @quickfingersluc and @dogphish!..Seems pretty simple..I think?
Thanks so much guys, appreciate the hard work!
Thank you, I will be trying this out tomorrow.
Thank you @dogphish
I'm going to test it out the next couple days and use the tactics talked about in the video. Thanks again for all your hard work @quicfingersluc
BCC is now trading on Bittrex!!!
yeah, im watching it closely.. its around $200ish USDT right now, and its tempting to sell BCC and just collect free money, but who knows, maybe more miners will start supporting this alt coin and then we have a quick jump in price.. its very unpredictable
Oh oooh, i just sold a bit at $275
I sold a bit more on HitBTC between $300 and $350ish.. thank you free money... I still have lots in cold wallets, but this is a nice little bonus at these exchanges..
sold at $524!
hi luc
I am new to crypto but just managed to get bitcoin purchased on craken and bittrex before fork so now have btc and bcc and looking to get into other long term as well as following your trading method (fantastic ) but you say above you store in cold wallets, can you tell me were and how to store in cold wallets for btc bcc mtl ark dash ltc etc as i am very worried about security ? And also you talked in recent video about letting us know when you where entering and exiting trade which would be awesome to follow and learn, so are you doing this and how do i see it ? ALL VERY MUCH APPRECIATED thanks memsc
sold my BCC at 0.4 BTC on Bittrex from Coinigy aaaaaaaaaaaaaaaaaand had no BTC in return ! did you all get your BTC in your account after selling your BCCs ?
Yes i received my btc
Very lucky to get that price, currently selling at 201 on Kraken. Jumped up to over $300 for a bit on Bittrex, so interesting to see how vastly different the two exchanges are. Also fascinating to see this new coin trade under different symbols BCC and BCH at the same time depending on the exchange.
all exchanges will be trading BCC at different prices right now, because you cant easily move your BCC around, so that limits the arbitrage and makes every exchange an island
Wow! I just woke up to look at the price and it's up to $532. This is pretty crazy and I'm really tempted to cash out but, maybe it it'll keep rising...(any profit is good profit , right?).
I have a dumb question though. I'm looking at the BCC page on Bittrex and when I enter the price in the sell section, I entered max units from available BCC and the total comes out to 10% of what I had in Bitcoin. I thought it was 1 to 1... I don't want to make a trade and just give up 90% of a potential profit because of a glitch. Am I missing something?
you were right it went up to almost HALF a bitcoin!
bittrex is working fine, you have the same amount BCC and BTC but BCC worth (at this time) 0.196 BTC.
Cant believe it but it actually was over $1100 this morning. Can It go even higher?
Exactly why I decided I'm going to hold it like I do Bitcoin and see which one prevails in the future. Nevertheless Im having a lot of fun trading it as it is extremely volatile and over 50000 btc in volume
Simply amazing.Thankyou
Thank you Luc and Dogphish!! looking forward to using this scanner.
Hi there - did you delete your YouTube channel? I'm having trouble finding it.
https://www.youtube.com/channel/UCbcxHiowf0TSNKn3xVpGTiQ/videos
Great big thanks to Luc and especially to @dogfish for another great tool for this group!
It seems that most of the altcoins have had their initial rise after the fork. Was there any way to know this? Now, it's hard to tell what to expect next. Is it wiser to wait for a while to see which way the wind is blowing or to just take up looking for bases and cracks from this new level? Oh, by the way, Luc, love the scanners and what you provide for us all.
Thank you Luc and thank you @dogphish! What an amazing community we have...full of givers...lots of awesome support...so grateful to have found it!!!
Thanks for your hard work @dogphish! I'll be sending a donation shortly #InCryptosWeTrust
Hi Luc,
Seran said,"Can you please make a video about setting up trades.
I'm having a hard time setting trades that never gets filled."
I am having the same trouble. Could you make a video explaining how you catch these trades? I'm new to coinigy and find this the most confusing aspect. Are you using limit or stop/limit to trade?
This might be so simple and obvious to you and others but I need help explaining how each one works and why you might use one over the other.
Love the content you are providing.
I would suggest to read some "How To" and maybe watch some videos on youtube like this one:
thanks, that helps. but still I wonder how Luc manages to buy those very low dips, since I seem to miss those, because there's no one filling the bid. If you see his charts he often buys at super low dips. How does he manage that? @krakan / @quickfingersluc
You must place buy orders when you suspect that a dip might occur. Set your alerts higher than you plan for your trades, then commit the the buy by layering in. If the dip doesn't occur then you cancel the buy order.
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/
Since no deposits are allowed for BCCH between exchanges, seems pump and dumps are happening. Managed to get in on one but too bad I'm only using Kraken. Anyone managed to get into Bittrex until 1400?
HitBTC is now allowing deposits, but its the only exchange I know of that you can try to move your BCC to.. And the blocks are taking forever, so im not sure how long it would take to even try to send your BCC .. Add to that, i cannot even find a wallet that will allow me to import private keys from my cold wallets to split my BTC ... So yeah, BCC is not doing so hot.. It looks like its climbing, but its in a bubble, because all the sellers are stuck out of the market, looking for way to move there BCC onto an exchange.
@quickfingersluc thank so much for responding! I really look forward to your daytrading videos as yesterday I made 100+USD just by catching pump and dumps with 300 USD (exact gain was 36% which is huge for me). I used to drive an uber/grab part time for extra income and I'd probably get half of that driving full time for a day where I come from.
Not sure, but this may help.
https://bitcointalk.org/index.php?topic=2051845.0
https://bitcoinmagazine.com/articles/beginners-guide-claiming-your-bitcoin-cash-and-selling-it/
Hi Luc I think I messed this trade up. I was a little bit too confident in this trade I guess. Went in with too much size for my taste (25% of portfolio) and now stuck holding.
Can you give me some advice how to first of all prevent this from happening again and what to do next? Appreciate your video's, learning a lot from them!
Alright so I played off the base with the blue arrow. I bought in quite low at the time and set my sell order for the base level (blue arrow line) but it never reached that level. I also missed the bounce and now I'm stuck holding. Do you think it's going to that base in the near future or do I need to suck up my loss and get out on the next bounce? (that seems to be right now)
https://www.coinigy.com/s/i/59820d8450a48/
Im sorry, I wouldnt have considered that blue arrow a base.. you are using a great chart, and the bases are defined by the bounce that happened off them.. so you look back at all those bounces and you will see what should be defined as a base.. your last yellow line was a base, but the other two are questionable.. atleast you wont lose much if you bail on the trade and try again ..
Man I can see it now. That blue arrow base bounce can't be considered an average bounce compared to the other base bounces. So it's not a base, why didn't I see this -_-
I took the L and going to try again. Thanks for your comment!
The base for where you bought seem to be at .0065 and if you based it on that you should have been looking for the bounce back to .0065 and it did. And if you based you purchased on that, you'd be able to get out, not sure I'd make that buy myself though. I would have waited until it dropped below the first based you marked around .0062 but I would also draw that base lower around . 0055 and wait for that to crack
Thanks for your comment. But the 0.065 looks like such a weak base though. Yes it would've worked but I don't see it as a base. First of all it didn't reach the blue arrow line and therefore I thought we just had to wait for the bounce to the blue arrow line (which never came). Oh and the reason I didn't play off that 0.062 base is because the blue arrow base seemed pretty clear (2x touching for example) and that was the last base so it looked safe...
hello, luc, which trading platform you mostly use? ah..kraken and bitfinex 0.3% fee is huge for my day trading....
Luc mentioned this already like 5 times. Please watch his videos and read comments.
...emmm...too much comments.. i didnt found it .. could you teach me this...thank you ,kind person
If you simply watch the video you will hear what he uses. Just a little effort would serve you well.
We should get a scanner for wallet maintenance too, in order to avoid trading on them
Sorry for the double post Luc.
But I felt like you didn't notice my question on your last blog post.
So I am copying it here...
Hi great Luc!! :-D
This is not related to this video and I still couldn't watch this also. Sorry if you have already addressed these in the video.
How you buy right away when market scanner alerts? I still didn't start trading but I mimicked of doing it. But those movements are so fast that no matter how fast I try the prices bounce back up and I don't get to buy low. How you manage these things? This is regarding day trading actually.
Do you trade forex much? I also like to get into that and I wonder if you have any books or guides that you can suggest for me to read and find a good strategy. I have the basics but haven't traded yet.
Thanks a lot man. As i always say. You are a gem!!!
I miss 80% of the daytrades off these crypto scanners.. This market is so new that things spike down with all the thin bids and then rebound instantly.. it is frustrating.. but that what its like when you are day trading in a very safe way.. we are not robots, and we dont have all the info on one screen.. we have to press links and write orders and that takes 10-20seconds.. and thats a little slow for daytrading, so we will always miss a ton of opportunities..
I just got HitBTC --BCC/ETH .64s and sold .95s.. sweet trade and that was fast..
No I dont trade Forex to more.. only tried it for a few months, years back
hey luc, I bought BCC/BTC for .29 :(((((
Whats my best option at this point??
its crazy low but idk if I can get it back up?
what should I do? I bought 5 BCC @ .29btc ealier today when it was worth 700 :(
wow, sorry to hear that.. So you are new to this blog I'm guessing?
Ok so you bought BBC at $773 x 5 coins = 3,865 and now they are trading in the $250 range x 5coins = 1,250.. therfore you are down $2,615 ouch :(
I cannot advise you on what to do to turn around this trade.. I can only say, please watch my videos and you will recover your losses in no time..
Heres how my BCC trading went: I had some BTC at various exchanges, So Yesterday I sold some $275s and then some $350s and later some $450s.. and then I was out...while I watched it climb all the way to over $1,000... So I by no means can predict the future, and really sold early, but it was a great profit.. then I waited to see price action I can trade (panic selling) ... So off HitBTC I bought BCC/ETH at .64 and sold.95 .. thats a near 50% profit in 15 mins
Again my entries are not perfect, but they are the safest trades that were availible... And that's the secret to trading : never lose money, only take the safest trades, so that you don't allow your capital to go down... I am a reaction trader, I let the market tell me where I should enter, and never base my trades off a gut feeling, or something everyone is telling me is going to be the next big thing. I just read charts and let the chart tell me where to get in.. and I usually get a 2month picture of the chart for big trades, but in the chart above, there is only today to see, so its a smaller trade, and a day trade, and those are 5 minute bars...
Hi Luc,
I've been watching your videos for the last month and am starting to get the hang of day trading - thank you.
After reading cryptosuf's last message I think I may have made a really foolish and novice error. I'm super confused and I hope you can shed some light on the situation!
I was using the Bittrex exchange on Coinigy and after the fork I watched BCC start to rise. I used my BTC to buy BCC and now they money has evaporated and there's no trading history on the BCC/BTC page in Coinigy and in the orders section it shows I place four BCC orders and two failed and two were cancelled. Now I have no BTC and a random very low amount of BCC. What has happened to my BTC?
Did I stuff up majorly? I thought they were two separate currencies? Or is something fishy going on? I've emailed Bittrex and Coinigy for help but haven't had a response yet.
Thanks in advance
Thats very strange.. I really don't know what could have happened there.. I hope Bittrex gets back to you about that, because you should have a balance of BTC if your orders got cancelled. Or you should have BCC if your orders got filled, but it should not just disappear. very strange
Did you went into your bittrex wallet account to check? It should be there.
Sometimes Coinigy doesnt update promptly . You'll have to refresh account, the button is at the bidding column of Type - Limit, There's two mini icons just right beside it. It's the 2nd one.
Nice, I made 3 solid trades on BCC at Bittrex. Should have been on Hitbtc though I only averaged 25%. I also sold BCC immediately, expecting a massive selloff, oh well! I may buy more when wallets open up and it bottoms out
Good advice. Wild swings yesterday and today. Got a little last night and sold for a small profit today. Waiting for the next entry point tonight. Seems like it may jump when the other side of the planet wakes up and starts trading. :)
hey luc, thanks alot. do you think it will hit that price?
Also should i try to trade this bcc? or stick to smaller coins?
Thanks for the reply Luc...
Then I'll just have to forget about Forex.. If a legend like you are not doing Forex then amatures like us have no chance in that market.